Analysis of Long-term (Investment) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
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- Cash Flow Statement
- Analysis of Solvency Ratios
- Analysis of Geographic Areas
- Enterprise Value to EBITDA (EV/EBITDA)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Operating Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Debt to Equity since 2005
- Price to Operating Profit (P/OP) since 2005
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Long-term Activity Ratios (Summary)
Autodesk Inc., long-term (investment) activity ratios
Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).
- Net fixed asset turnover
- This ratio shows a steady and significant increase from 17.17 in 2019 to 45.43 in 2024, indicating a growing efficiency in utilizing net fixed assets to generate revenue. The rise is especially notable from 2021 onward, with a sharp acceleration in asset turnover performance.
- Net fixed asset turnover including operating lease, right-of-use asset
- When considering operating lease and right-of-use assets, the turnover ratio starts at the same level as the standard net fixed asset turnover in 2019 (17.17) but drops sharply to 5.45 in 2020. From 2020 onward, there is a gradual improvement, reaching 15.93 by 2024. Despite the improvement, the turnover including leased assets remains substantially lower than the standard fixed asset turnover, reflecting the additional asset base from leasing arrangements.
- Total asset turnover
- The total asset turnover ratio remains relatively stable over the six-year period, fluctuating narrowly between 0.51 and 0.55. This suggests consistent efficiency in using total assets to generate revenues without major shifts in overall asset productivity.
- Equity turnover
- Equity turnover data is partially available from 2021 onward. It peaks at 5.17 in 2022, indicating a particularly high efficiency at that time in generating sales from equity. However, this ratio declines to 4.37 in 2023 and further to 2.96 in 2024, signaling a reduction in the rate at which equity is being utilized to support revenue generation over the last two years.
Net Fixed Asset Turnover
Autodesk Inc., net fixed asset turnover calculation, comparison to benchmarks
| Jan 31, 2024 | Jan 31, 2023 | Jan 31, 2022 | Jan 31, 2021 | Jan 31, 2020 | Jan 31, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Net revenue | |||||||
| Computer equipment, software, furniture, and leasehold improvements, net | |||||||
| Long-term Activity Ratio | |||||||
| Net fixed asset turnover1 | |||||||
| Benchmarks | |||||||
| Net Fixed Asset Turnover, Competitors2 | |||||||
| Accenture PLC | |||||||
| Adobe Inc. | |||||||
| Cadence Design Systems Inc. | |||||||
| CrowdStrike Holdings Inc. | |||||||
| Fair Isaac Corp. | |||||||
| International Business Machines Corp. | |||||||
| Intuit Inc. | |||||||
| Microsoft Corp. | |||||||
| Oracle Corp. | |||||||
| Palantir Technologies Inc. | |||||||
| Palo Alto Networks Inc. | |||||||
| Salesforce Inc. | |||||||
| ServiceNow Inc. | |||||||
| Synopsys Inc. | |||||||
| Workday Inc. | |||||||
| Net Fixed Asset Turnover, Sector | |||||||
| Software & Services | |||||||
| Net Fixed Asset Turnover, Industry | |||||||
| Information Technology | |||||||
Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).
1 2024 Calculation
Net fixed asset turnover = Net revenue ÷ Computer equipment, software, furniture, and leasehold improvements, net
= ÷ =
2 Click competitor name to see calculations.
- Net Revenue
- The net revenue has shown a consistent upward trend over the six-year period. Beginning at 2,570 million US dollars in 2019, it increased annually to reach 5,497 million US dollars by 2024. This represents more than a doubling of revenue, indicating strong growth momentum.
- Net Fixed Assets (Computer equipment, software, furniture, and leasehold improvements, net)
- The net value of fixed assets has generally decreased after reaching a peak in 2021. Starting at 150 million US dollars in 2019, the figure slightly rose to 193 million in 2021, but thereafter it declined steadily to 121 million in 2024. This reduction may reflect accelerated depreciation, asset disposals, or a shift towards less capital-intensive operations.
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio exhibited a substantial increase during the observed period. It rose from 17.17 in 2019 to 45.43 in 2024, indicating a growing efficiency in utilizing fixed assets to generate revenue. The sharp rise, particularly after 2021, suggests that the company is achieving more revenue per unit of net fixed assets, possibly due to improved operational efficiency or asset optimization.
- Overall Trends and Insights
- The combination of rising net revenue and declining net fixed assets, coupled with a significantly increased fixed asset turnover ratio, points to enhanced asset productivity. The company seems to be leveraging its assets more effectively to drive revenue growth, potentially through investment in technology, process improvements, or a shift towards cloud-based or software-as-a-service models that require less physical asset investment.
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Autodesk Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks
| Jan 31, 2024 | Jan 31, 2023 | Jan 31, 2022 | Jan 31, 2021 | Jan 31, 2020 | Jan 31, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Net revenue | |||||||
| Computer equipment, software, furniture, and leasehold improvements, net | |||||||
| Operating lease right-of-use assets | |||||||
| Computer equipment, software, furniture, and leasehold improvements, net (including operating lease, right-of-use asset) | |||||||
| Long-term Activity Ratio | |||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | |||||||
| Benchmarks | |||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | |||||||
| Accenture PLC | |||||||
| Adobe Inc. | |||||||
| Cadence Design Systems Inc. | |||||||
| CrowdStrike Holdings Inc. | |||||||
| Fair Isaac Corp. | |||||||
| International Business Machines Corp. | |||||||
| Intuit Inc. | |||||||
| Microsoft Corp. | |||||||
| Oracle Corp. | |||||||
| Palantir Technologies Inc. | |||||||
| Palo Alto Networks Inc. | |||||||
| Salesforce Inc. | |||||||
| ServiceNow Inc. | |||||||
| Synopsys Inc. | |||||||
| Workday Inc. | |||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector | |||||||
| Software & Services | |||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry | |||||||
| Information Technology | |||||||
Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).
1 2024 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Net revenue ÷ Computer equipment, software, furniture, and leasehold improvements, net (including operating lease, right-of-use asset)
= ÷ =
2 Click competitor name to see calculations.
- Net Revenue
- There is a consistent upward trend in net revenue over the analyzed periods. Starting from 2,570 million US dollars in 2019, the revenue increased steadily each year, reaching 5,497 million US dollars by 2024. This represents more than a doubling of revenue within six years, indicating strong and continuous business growth.
- Computer Equipment, Software, Furniture, and Leasehold Improvements, Net (Including Operating Lease, Right-of-Use Asset)
- The net value of fixed assets in this category showed substantial fluctuation. Initially, there was a significant increase from 150 million US dollars in 2019 to 601 million in 2020, remaining relatively stable in 2021 at 610 million. However, from 2022 onwards, the asset base declined gradually each year, decreasing to 345 million by 2024. This suggests a reduction in capital investment or accelerated depreciation/amortization in the more recent years.
- Net Fixed Asset Turnover (Including Operating Lease, Right-of-Use Asset)
- The net fixed asset turnover ratio presents a contrasting trend compared to the asset base. It decreased sharply in 2020 to 5.45 from 17.17 in 2019, indicating a lower efficiency in generating revenue from fixed assets during that year. Subsequently, the ratio improved steadily each year, rising to 15.93 by 2024. This recovery and upward trend imply enhanced utilization of fixed assets or improved operational efficiency, aligning with the steady increment in net revenue.
- Overall Insights
- The data reveals a pattern of rapid revenue growth accompanied by initial expansion followed by a contraction in fixed asset values. The decrease in fixed assets after 2021, coupled with a rising asset turnover ratio, indicates that the company may have optimized its asset base to generate higher revenue efficiently. This suggests a strategic shift toward better asset management or a transition to a less asset-intensive business model over the period analyzed.
Total Asset Turnover
Autodesk Inc., total asset turnover calculation, comparison to benchmarks
| Jan 31, 2024 | Jan 31, 2023 | Jan 31, 2022 | Jan 31, 2021 | Jan 31, 2020 | Jan 31, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Net revenue | |||||||
| Total assets | |||||||
| Long-term Activity Ratio | |||||||
| Total asset turnover1 | |||||||
| Benchmarks | |||||||
| Total Asset Turnover, Competitors2 | |||||||
| Accenture PLC | |||||||
| Adobe Inc. | |||||||
| Cadence Design Systems Inc. | |||||||
| CrowdStrike Holdings Inc. | |||||||
| Fair Isaac Corp. | |||||||
| International Business Machines Corp. | |||||||
| Intuit Inc. | |||||||
| Microsoft Corp. | |||||||
| Oracle Corp. | |||||||
| Palantir Technologies Inc. | |||||||
| Palo Alto Networks Inc. | |||||||
| Salesforce Inc. | |||||||
| ServiceNow Inc. | |||||||
| Synopsys Inc. | |||||||
| Workday Inc. | |||||||
| Total Asset Turnover, Sector | |||||||
| Software & Services | |||||||
| Total Asset Turnover, Industry | |||||||
| Information Technology | |||||||
Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).
1 2024 Calculation
Total asset turnover = Net revenue ÷ Total assets
= ÷ =
2 Click competitor name to see calculations.
- Net Revenue
- Net revenue demonstrates a consistent upward trajectory over the six-year period under review. Beginning at 2,570 million US dollars in early 2019, it increased steadily each year, reaching 5,497 million US dollars by early 2024. This represents more than a twofold increase, indicating robust growth in sales or service income.
- Total Assets
- Total assets also exhibit a strong growth trend. Starting from 4,729 million US dollars in early 2019, assets climbed significantly each year to reach 9,912 million US dollars by early 2024. This growth suggests ongoing investment in assets or accumulation of resources, nearly doubling the asset base within the period.
- Total Asset Turnover
- The total asset turnover ratio, which measures the efficiency in using assets to generate revenue, remained relatively stable across the reviewed years. It started at 0.54 in 2019, slightly declined to around 0.51 in 2022, but then increased to 0.55 by 2024. This stability, despite the increase in both revenue and assets, indicates a consistent, efficient use of assets to produce revenue over time.
- Overall Insights
- The data points to a company experiencing steady growth in both revenue generation and asset accumulation. The steadiness of the asset turnover ratio amidst asset and revenue growth suggests efficient operational management. There is no evidence of deteriorating efficiency despite the scale of growth, implying effective utilization of resources and capacity expansion aligned with revenue increases.
Equity Turnover
Autodesk Inc., equity turnover calculation, comparison to benchmarks
| Jan 31, 2024 | Jan 31, 2023 | Jan 31, 2022 | Jan 31, 2021 | Jan 31, 2020 | Jan 31, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Net revenue | |||||||
| Stockholders’ equity (deficit) | |||||||
| Long-term Activity Ratio | |||||||
| Equity turnover1 | |||||||
| Benchmarks | |||||||
| Equity Turnover, Competitors2 | |||||||
| Accenture PLC | |||||||
| Adobe Inc. | |||||||
| Cadence Design Systems Inc. | |||||||
| CrowdStrike Holdings Inc. | |||||||
| Fair Isaac Corp. | |||||||
| International Business Machines Corp. | |||||||
| Intuit Inc. | |||||||
| Microsoft Corp. | |||||||
| Oracle Corp. | |||||||
| Palantir Technologies Inc. | |||||||
| Palo Alto Networks Inc. | |||||||
| Salesforce Inc. | |||||||
| ServiceNow Inc. | |||||||
| Synopsys Inc. | |||||||
| Workday Inc. | |||||||
| Equity Turnover, Sector | |||||||
| Software & Services | |||||||
| Equity Turnover, Industry | |||||||
| Information Technology | |||||||
Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).
1 2024 Calculation
Equity turnover = Net revenue ÷ Stockholders’ equity (deficit)
= ÷ =
2 Click competitor name to see calculations.
- Net Revenue
- Net revenue exhibited a consistent upward trend over the six-year period, increasing from $2,570 million in 2019 to $5,497 million in 2024. The year-on-year growth reflects steady sales expansion, with particularly notable increments from 2019 to 2020 and continuing through 2023, though the absolute growth rate appears to moderate slightly in the most recent year.
- Stockholders’ Equity (Deficit)
- The stockholders’ equity position showed significant improvement throughout the period. Starting at a negative balance of $-211 million in 2019, equity gradually improved to a small deficit of $-139 million in 2020. A marked turnaround occurred in 2021, with equity reaching a positive value of $966 million. Although there was a slight decline in 2022 to $849 million, the subsequent years displayed robust recovery and further growth, culminating at $1,855 million in 2024. This trajectory indicates successful efforts in strengthening the company’s financial foundation.
- Equity Turnover
- The equity turnover ratio data is unavailable for the initial two years but becomes available from 2021 onward. The ratio peaked at 5.17 in 2022, indicating efficient utilization of equity to generate revenue during that year. However, it declined in 2023 to 4.37 and further to 2.96 in 2024. This downward trend in equity turnover suggests a decrease in revenue generated per unit of equity in the last two years, potentially reflecting a relative increase in equity base or slower revenue growth efficiency compared to earlier performance.
- Overall Analysis
- The company demonstrated strong revenue growth across the entire period, accompanied by significant improvement in equity from a deficit to a solid positive position. While the equity turnover ratio’s decline in recent years points to less efficient use of equity capital in generating revenue, the overall financial health appears to be improving, supported by a growing equity base and continuously increasing net revenue.