Autodesk Inc. (NASDAQ:ADSK)

Receivables Turnover

The receivables turnover ratio fluctuated over the six-year period. It began at 5.42 in early 2019, then declined to 5.02 in 2020. Thereafter, it increased steadily, reaching 6.28 by early 2024. This upward trend after 2020 indicates improving efficiency in collecting receivables.

Payables Turnover

The payables turnover ratio showed a general upward trend. Starting at 2.81 in 2019, it rose sharply to 3.88 in 2020, then experienced some variation but increased overall, reaching 5.11 by 2024. This suggests the company has been accelerating its payments to suppliers over time.

Working Capital Turnover

No data was provided for the working capital turnover ratio, so no analysis can be offered for this item.

Average Receivable Collection Period

The average receivable collection period showed fluctuations. It increased from 67 days in 2019 to 73 days in 2020, which indicates a slower collection process. Subsequently, it decreased to 62 in 2021 and further to 60 in 2022, suggesting improved collection efficiency. However, it rose again to 70 days in 2023 before falling to the lowest point of 58 days in 2024, reflecting overall improvement in receivables management by 2024.

Average Payables Payment Period

The average payables payment period showed a steady decline over the period. Starting at 130 days in 2019, it decreased to 94 days in 2020, then oscillated but trended downward, reaching 71 days in 2024. This indicates that the company has been shortening the time it takes to pay suppliers, which aligns with the increasing payables turnover ratio.

Net revenue

Net revenue shows a consistent upward trend over the six-year period. Starting at $2,570 million in January 2019, revenue increased each year, reaching $5,497 million by January 2024. The growth rate is relatively steady, indicating ongoing expansion in sales or service income without significant fluctuations.

Accounts receivable, net

Accounts receivable exhibits fluctuations but an overall increasing trend. From $474 million in January 2019, it rises to $961 million by January 2023, before a slight decline to $876 million in January 2024. This pattern suggests increasing credit sales over time, with a minor reduction in the latest period that could imply improved collection efforts or changes in credit policies.

Receivables turnover ratio

The receivables turnover ratio demonstrates variability without a clear linear trend. Starting at 5.42 in 2019, it declines slightly in 2020, then increases to 6.13 by 2022, dips again in 2023, and rises to the highest ratio of 6.28 in 2024. These fluctuations indicate changes in the efficiency of collecting accounts receivable, with the general trend suggesting an improvement in collection speed in the most recent year.

Cost of Revenue

The cost of revenue exhibited an upward trend throughout the periods analyzed. It increased from $286 million in January 2019 to $511 million in January 2024. This consistent growth suggests rising expenses associated with revenue generation over time, with a particularly notable increase between January 2021 and January 2022, and continuing through to January 2024.

Accounts Payable

Accounts payable showed fluctuations without a definitive trend. It decreased from $102 million in January 2019 to $84 million in January 2020, then rose to $123 million by January 2021. Subsequently, it slightly declined to $121 million in January 2022, followed by a further decrease to $102 million and $100 million in January 2023 and January 2024 respectively. The pattern indicates variability in short-term liabilities management.

Payables Turnover Ratio

The payables turnover ratio demonstrated a general upward trajectory, rising from 2.81 in January 2019 to 5.11 in January 2024. This increase suggests an acceleration in the rate at which the company is paying off its suppliers. The ratio dipped in January 2021 to 2.75 but increased significantly thereafter, reaching its highest level in January 2024. This may reflect improved liquidity or tighter credit terms with suppliers.

The financial data reveals several notable trends over the six-year period ending January 31, 2024, particularly in the areas of net revenue and working capital.

Net Revenue

The net revenue exhibits a consistent upward trend throughout the observed period. Beginning at $2,570 million in 2019, it increases each year, reaching $5,497 million by 2024. The growth is steady and substantial, demonstrating a strong and continuous expansion in sales or service income. This nearly doubles the revenue within five years, indicating robust operational performance and potential market growth.

Working Capital

The working capital figures remain negative throughout the entire period, indicating that current liabilities exceed current assets consistently. The values fluctuate notably: from -$681 million in 2019, improving slightly to -$560 million in 2020 and -$556 million in 2021, then declining sharply to -$1,246 million in 2022. This significant dip suggests increased short-term obligations or a reduction in liquid assets during that year. Subsequent years show some recovery to -$659 million in 2023, but the figure worsens again to -$772 million in 2024. The overall pattern indicates volatility and challenges in managing working capital efficiently despite growing revenues.

Working Capital Turnover

No data is available for working capital turnover, making it impossible to assess the efficiency of working capital utilization relative to sales.

In summary, while the company has achieved commendable growth in net revenue, the consistently negative and volatile working capital suggests a tight liquidity position. The sharp deterioration in 2022 may signal heightened operational risks or strategic changes affecting short-term financial management. The inability to report or calculate working capital turnover data limits further insights into how the company manages its working capital relative to its sales volume.

Receivables Turnover

The receivables turnover ratio exhibits a fluctuating pattern over the six-year period. Starting at 5.42 in 2019, it decreased to 5.02 in 2020, indicating a slower collection of receivables during that year. However, from 2020 onwards, the ratio improved, reaching 5.89 in 2021 and further increasing to 6.13 in 2022. A decline occurred again in 2023, with the ratio dropping to 5.21, followed by a recovery to 6.28 in 2024, the highest point in the period analyzed. Overall, the trend suggests variability in the company's efficiency in collecting receivables, with periods of both weakening and strengthening performance.

Average Receivable Collection Period

The average collection period corresponds inversely with the receivables turnover, reflecting the number of days taken to collect receivables. It started with a relatively high 67 days in 2019 and increased to 73 days in 2020, indicating longer collection times. Subsequently, the period shortened notably to 62 days in 2021 and further to 60 days in 2022, demonstrating improved collection efficiency. However, in 2023, the collection period extended again to 70 days, before reducing significantly to 58 days in 2024, the shortest period over the span. This pattern highlights the company's fluctuating receivables management effectiveness, with a general improvement from 2020 to 2024 despite mid-period setbacks.

Payables Turnover

The payables turnover ratio exhibits notable fluctuations over the six-year period. It started at 2.81 in 2019, increased substantially to 3.88 in 2020, then decreased to 2.75 in 2021. From 2021 onward, there has been a consistent upward trend, reaching 3.46 in 2022 and accelerating further to 4.71 in 2023 and 5.11 in 2024. This pattern indicates an overall improvement in the company's ability to manage and settle its payables more frequently each year, particularly over the recent three years.

Average Payables Payment Period

The average payables payment period, measured in days, shows an inverse pattern relative to the payables turnover ratio, as expected. Beginning at a high of 130 days in 2019, the payment period shortened significantly to 94 days in 2020, then lengthened again to 133 days in 2021. From 2021, a pronounced decreasing trend is observed, with the period reducing to 105 days in 2022, 78 days in 2023, and 71 days in 2024. This decline indicates the company has been paying its suppliers faster in recent years, particularly since 2021, improving its payment efficiency.

Overall Analysis

The contrasting trends between payables turnover and payment period align with each other, reflecting changes in payment practices. The initial variability from 2019 through 2021 suggests some instability in payables management. However, from 2021 forward, there is a clear, consistent improvement in payables turnover alongside a reduction in payment periods, implying enhanced liquidity management or evolving supplier terms. This may have positive implications for supplier relationships and the company's creditworthiness.