MeritValue

Autodesk, Inc.

ADSKdata completeness 100%19 fiscal years on file
i. The business — what you’d actually own
FigureFY 2022FY 2023FY 2024FY 2025FY 2026
Revenue$4.39B1$5.01B2$5.5B3$6.13B3$7.21B3
Net income$497M4$823M5$906M6$1.11B6$1.12B6
Operating cash flow$1.53B7$2.07B8$1.31B9$1.61B9$2.45B9
Capital expenditure$56M10$40M11$31M12$40M12$43M12
Free cash flow (derived)$1.48B7$2.03B8$1.28B9$1.57B9$2.41B9
Total debt$2.65B13$2.3B14$2.3B15$2.3B16$2.5B17
Cash & equivalents$1.53B18$1.95B19$1.89B20$1.6B21$2.25B21
Diluted shares222.0M218.0M216.0M217.0M215.0M

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

ii. Your slice — ownership made literal
If you owned
shares
You’d own
0.0000047%
of the whole company
Your share of last year’s profit
$52.28
Your share of its debt
$116.28
Your share of free cash flow
$112.05
iii. What it’s worth — engine v0.1.0
DCF · Growth Exit 10Y
$113.76
assumptions (10)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears10
  • fcfGrowth2.0%
  • fcfBase$1.57B
DCF · Growth Exit 5Y
$115.49
assumptions (10)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears5
  • fcfGrowth2.0%
  • fcfBase$1.57B
Earnings Power Value
$44.4
assumptions (8)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • normalizedEarnings$906M
  • growthAssumed0.0%
Graham Number
$40.82
assumptions (1)
  • grahamMultiplier2250.0%

Different models answer different questions — which to trust when →

iv. The price question — last, on purpose
What does today’s price assume?
Type a price. The ledger answers.
Or set your own belief
FCF growth, next 5 years2.0%
Discount rate (WACC)8.78%
Terminal growth2.5%
At your growth, a share is worth $115.49

Default growth 2.0%= this company’s own filed history (median-to-median FCF CAGR, clamped 0–20%). Your adjustments are recorded anonymously. They become the “what do owners actually believe” dataset.

Sources — the receipts
  1. 10-K · period ending 2022-01-31 · accession 0000769397-24-000090 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K · period ending 2023-01-31 · accession 0000769397-25-000019 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 10-K · period ending 2024-01-31 · accession 0000769397-26-000015 (RevenueFromContractWithCustomerExcludingAssessedTax)
  4. 10-K · period ending 2022-01-31 · accession 0000769397-24-000090 (NetIncomeLoss)
  5. 10-K · period ending 2023-01-31 · accession 0000769397-25-000019 (NetIncomeLoss)
  6. 10-K · period ending 2024-01-31 · accession 0000769397-26-000015 (NetIncomeLoss)
  7. 10-K · period ending 2022-01-31 · accession 0000769397-24-000090 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2023-01-31 · accession 0000769397-25-000019 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2024-01-31 · accession 0000769397-26-000015 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2022-01-31 · accession 0000769397-24-000090 (PaymentsToAcquirePropertyPlantAndEquipment)
  11. 10-K · period ending 2023-01-31 · accession 0000769397-25-000019 (PaymentsToAcquirePropertyPlantAndEquipment)
  12. 10-K · period ending 2024-01-31 · accession 0000769397-26-000015 (PaymentsToAcquirePropertyPlantAndEquipment)
  13. 10-K · period ending 2022-01-31 · accession 0000769397-22-000019 (LongTermDebt)
  14. 10-K · period ending 2023-01-31 · accession 0000769397-23-000036 (LongTermDebt)
  15. 10-K · period ending 2024-01-31 · accession 0000769397-24-000090 (LongTermDebt)
  16. 10-K · period ending 2025-01-31 · accession 0000769397-25-000019 (LongTermDebt)
  17. 10-K · period ending 2026-01-31 · accession 0000769397-26-000015 (LongTermDebt)
  18. 10-K · period ending 2022-01-31 · accession 0000769397-23-000036 (CashAndCashEquivalentsAtCarryingValue)
  19. 10-K · period ending 2023-01-31 · accession 0000769397-24-000090 (CashAndCashEquivalentsAtCarryingValue)
  20. 10-K · period ending 2024-01-31 · accession 0000769397-25-000019 (CashAndCashEquivalentsAtCarryingValue)
  21. 10-K · period ending 2025-01-31 · accession 0000769397-26-000015 (CashAndCashEquivalentsAtCarryingValue)