Analysis of Solvency Ratios
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Autodesk Inc., solvency 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).
- Debt to Equity
- The debt to equity ratio, available from 2021, shows a decreasing trend from 3.09 in 2022 to 1.23 in 2024. When including operating lease liabilities, the ratio follows a similar pattern, peaking at 3.6 in 2022 and declining to 1.42 in 2024. This indicates a reduction in reliance on debt relative to equity in recent years, reflecting improved capitalization.
- Debt to Capital
- Over the entire period, the debt to capital ratio trends downward from 1.11 in 2019 to 0.55 in 2024. Including operating lease liabilities, the ratio also declines steadily from 1.11 in 2019 to 0.59 in 2024. The decrease suggests a consistent reduction in debt financing as a proportion of total capital.
- Debt to Assets
- The debt to assets ratio decreases from 0.44 in 2019 to 0.23 in 2024, despite a slight uptick in 2022. When operating lease liabilities are accounted for, this ratio similarly declines from 0.44 to 0.26 over the period. This pattern illustrates a gradual decline in the extent to which assets are financed by debt, implying enhanced asset stability.
- Financial Leverage
- Data from 2021 onward shows financial leverage rising sharply to 10.14 in 2022 before falling to 5.34 in 2024. This volatility indicates changes in the equity base or asset structure, with recent years showing a trend toward lower leverage and potentially reduced financial risk.
- Interest Coverage
- Interest coverage improves significantly from 0.18 in 2019 to peak at 14.32 in 2023, reflecting stronger earnings relative to interest obligations. The absence of data for 2024 prevents further analysis, but the prior trend signals enhanced ability to meet interest payments.
- Fixed Charge Coverage
- The fixed charge coverage ratio exhibits consistent growth from 0.62 in 2019 to a notable 26.24 in 2024. This substantial increase points to a marked improvement in capacity to cover fixed financial charges, indicating increased operational performance or lower fixed costs over time.
Debt Ratios
Coverage Ratios
Debt to Equity
Autodesk Inc., debt to equity 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) | |||||||
| Current portion of long-term notes payable, net | —) | —) | 350) | —) | 450) | —) | |
| Long-term notes payable, net, excluding current portion | 2,284) | 2,281) | 2,278) | 1,637) | 1,635) | 2,088) | |
| Total debt | 2,284) | 2,281) | 2,628) | 1,637) | 2,085) | 2,088) | |
| Stockholders’ equity (deficit) | 1,855) | 1,145) | 849) | 966) | (139) | (211) | |
| Solvency Ratio | |||||||
| Debt to equity1 | 1.23 | 1.99 | 3.09 | 1.70 | — | — | |
| Benchmarks | |||||||
| Debt to Equity, Competitors2 | |||||||
| Accenture PLC | 0.04 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Adobe Inc. | 0.40 | 0.22 | 0.29 | 0.28 | 0.31 | 0.39 | |
| Cadence Design Systems Inc. | 0.53 | 0.19 | 0.27 | 0.13 | 0.14 | — | |
| CrowdStrike Holdings Inc. | 0.32 | 0.51 | 0.72 | 0.85 | 0.00 | — | |
| Fair Isaac Corp. | — | — | — | — | 2.54 | 2.87 | |
| International Business Machines Corp. | 2.01 | 2.51 | 2.32 | 2.74 | 2.99 | — | |
| Intuit Inc. | 0.33 | 0.35 | 0.42 | 0.21 | 0.66 | 0.12 | |
| Microsoft Corp. | 0.29 | 0.31 | 0.39 | 0.50 | 0.62 | 0.77 | |
| Oracle Corp. | 9.98 | 84.33 | — | 16.08 | 5.93 | — | |
| Palantir Technologies Inc. | 0.00 | 0.00 | 0.00 | 0.00 | 0.13 | — | |
| Palo Alto Networks Inc. | 0.19 | 1.14 | 17.51 | 5.08 | 2.80 | 0.90 | |
| Salesforce Inc. | 0.17 | 0.20 | 0.19 | 0.07 | 0.09 | — | |
| ServiceNow Inc. | 0.15 | 0.20 | 0.30 | 0.43 | 0.58 | — | |
| Synopsys Inc. | 0.00 | 0.00 | 0.00 | 0.02 | 0.03 | 0.03 | |
| Workday Inc. | 0.37 | 0.53 | 0.41 | 0.55 | 0.51 | — | |
| Debt to Equity, Sector | |||||||
| Software & Services | 0.54 | 0.64 | 0.71 | 0.83 | 0.95 | — | |
| Debt to Equity, Industry | |||||||
| Information Technology | 0.61 | 0.66 | 0.71 | 0.83 | 0.97 | — | |
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
Debt to equity = Total debt ÷ Stockholders’ equity (deficit)
= 2,284 ÷ 1,855 = 1.23
2 Click competitor name to see calculations.
- Total Debt
- Over the six-year period, the total debt exhibited some fluctuations. Initially, the debt remained relatively stable between 2019 and 2020, with values close to 2,088 million US dollars and 2,085 million US dollars respectively. In 2021, there was a noticeable drop to 1,637 million US dollars, representing a reduction in debt. However, in 2022 the debt increased significantly to 2,628 million US dollars, the highest level during the observed period. Following this peak, debt levels decreased again to 2,281 million US dollars in 2023 and remained nearly constant at 2,284 million US dollars in 2024. This pattern indicates variability in debt management with peaks and troughs rather than a steady trend.
- Stockholders’ Equity (Deficit)
- The equity position showed a marked improvement across the years. Starting from a negative equity of -211 million US dollars in 2019 and improving slightly to -139 million US dollars in 2020, the company transitioned to positive equity in 2021 with 966 million US dollars. Although there was a minor decline to 849 million US dollars in 2022, equity rose again in the subsequent periods, reaching 1,145 million US dollars in 2023 and substantially increasing to 1,855 million US dollars in 2024. This progression from deficit to substantial positive equity reflects strengthening financial stability and accumulation of net assets.
- Debt to Equity Ratio
- The debt to equity ratio was not reported for 2019 and 2020 but provides insight from 2021 onward. In 2021, the ratio was 1.7, indicating that debt was 1.7 times the equity. This ratio increased sharply to 3.09 in 2022, signifying a higher reliance on debt relative to equity during that year. Subsequently, the ratio improved to 1.99 in 2023 and further decreased to 1.23 in 2024, indicating a trend towards a healthier balance between debt and equity. The drop to near 1.23 suggests a more conservative capital structure and reduced financial risk.
Debt to Equity (including Operating Lease Liability)
Autodesk Inc., debt to equity (including operating lease liability) 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) | |||||||
| Current portion of long-term notes payable, net | —) | —) | 350) | —) | 450) | —) | |
| Long-term notes payable, net, excluding current portion | 2,284) | 2,281) | 2,278) | 1,637) | 1,635) | 2,088) | |
| Total debt | 2,284) | 2,281) | 2,628) | 1,637) | 2,085) | 2,088) | |
| Current operating lease liabilities | 67) | 85) | 87) | 71) | 48) | —) | |
| Long-term operating lease liabilities | 275) | 300) | 346) | 396) | 412) | —) | |
| Total debt (including operating lease liability) | 2,626) | 2,666) | 3,060) | 2,105) | 2,545) | 2,088) | |
| Stockholders’ equity (deficit) | 1,855) | 1,145) | 849) | 966) | (139) | (211) | |
| Solvency Ratio | |||||||
| Debt to equity (including operating lease liability)1 | 1.42 | 2.33 | 3.60 | 2.18 | — | — | |
| Benchmarks | |||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | |||||||
| Accenture PLC | 0.15 | 0.12 | 0.15 | 0.18 | 0.21 | 0.00 | |
| Adobe Inc. | 0.43 | 0.25 | 0.33 | 0.32 | 0.35 | 0.39 | |
| Cadence Design Systems Inc. | 0.56 | 0.24 | 0.34 | 0.18 | 0.20 | — | |
| CrowdStrike Holdings Inc. | 0.34 | 0.54 | 0.76 | 0.89 | 0.00 | — | |
| Fair Isaac Corp. | — | — | — | — | 2.83 | 2.87 | |
| International Business Machines Corp. | 2.14 | 2.66 | 2.46 | 2.92 | 3.23 | — | |
| Intuit Inc. | 0.36 | 0.39 | 0.46 | 0.25 | 0.71 | 0.12 | |
| Microsoft Corp. | 0.36 | 0.39 | 0.47 | 0.58 | 0.69 | 0.84 | |
| Oracle Corp. | 10.85 | 88.84 | — | 16.61 | 6.10 | — | |
| Palantir Technologies Inc. | 0.05 | 0.07 | 0.10 | 0.11 | 0.30 | — | |
| Palo Alto Networks Inc. | 0.27 | 1.33 | 19.12 | 5.68 | 3.16 | 0.90 | |
| Salesforce Inc. | 0.23 | 0.25 | 0.25 | 0.15 | 0.18 | — | |
| ServiceNow Inc. | 0.24 | 0.30 | 0.44 | 0.60 | 0.75 | — | |
| Synopsys Inc. | 0.08 | 0.11 | 0.12 | 0.13 | 0.14 | 0.03 | |
| Workday Inc. | 0.41 | 0.58 | 0.46 | 0.68 | 0.63 | — | |
| Debt to Equity (including Operating Lease Liability), Sector | |||||||
| Software & Services | 0.63 | 0.73 | 0.81 | 0.94 | 1.06 | — | |
| Debt to Equity (including Operating Lease Liability), Industry | |||||||
| Information Technology | 0.67 | 0.73 | 0.77 | 0.91 | 1.04 | — | |
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
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Stockholders’ equity (deficit)
= 2,626 ÷ 1,855 = 1.42
2 Click competitor name to see calculations.
The financial data reveals several noteworthy trends related to debt levels, equity, and leverage ratios over the six-year period.
- Total Debt (Including Operating Lease Liability)
-
The total debt fluctuated considerably during the period under review. It increased from $2,088 million in early 2019 to a peak of $3,060 million by January 2022. Subsequently, there was a decline to $2,666 million in January 2023 and further to $2,626 million in January 2024. This indicates a period of elevated leverage around 2022, followed by a moderate reduction in debt levels thereafter.
- Stockholders’ Equity (Deficit)
-
Stockholders’ equity started in a negative position of -$211 million in 2019, showing improvement over time. The deficit narrowed slightly in 2020 to -$139 million, followed by a substantial positive turnaround reaching $966 million in 2021. Although there was a slight dip to $849 million in 2022, equity resumed an upward trajectory, reaching $1,145 million in 2023 and $1,855 million in early 2024. This trend demonstrates strengthening financial stability and an improving capital structure over the period.
- Debt to Equity Ratio (Including Operating Lease Liability)
-
The debt to equity ratio was not available for the initial two years but showed considerable variation from 2021 onwards. The ratio stood at 2.18 in 2021, indicating more than double the amount of debt relative to equity. This ratio increased sharply to 3.60 in 2022, reflecting higher leverage and increased financial risk during that year. However, the ratio declined significantly to 2.33 in 2023 and further to 1.42 in 2024, indicating a notable reduction in leverage and an improvement in the capital structure.
Overall, the data indicates a period of rising debt and leverage culminating in 2022, followed by a strategic reduction in debt levels and improvement in equity positions, leading to enhanced financial stability by 2024. The improving debt to equity ratio supports this observation, suggesting the company has been actively managing its capital structure to reduce financial risk.
Debt to Capital
Autodesk Inc., debt to capital calculation, comparison to benchmarks
| Jan 31, 2024 | Jan 31, 2023 | Jan 31, 2022 | Jan 31, 2021 | Jan 31, 2020 | Jan 31, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current portion of long-term notes payable, net | —) | —) | 350) | —) | 450) | —) | |
| Long-term notes payable, net, excluding current portion | 2,284) | 2,281) | 2,278) | 1,637) | 1,635) | 2,088) | |
| Total debt | 2,284) | 2,281) | 2,628) | 1,637) | 2,085) | 2,088) | |
| Stockholders’ equity (deficit) | 1,855) | 1,145) | 849) | 966) | (139) | (211) | |
| Total capital | 4,139) | 3,426) | 3,477) | 2,603) | 1,946) | 1,877) | |
| Solvency Ratio | |||||||
| Debt to capital1 | 0.55 | 0.67 | 0.76 | 0.63 | 1.07 | 1.11 | |
| Benchmarks | |||||||
| Debt to Capital, Competitors2 | |||||||
| Accenture PLC | 0.03 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Adobe Inc. | 0.29 | 0.18 | 0.23 | 0.22 | 0.24 | 0.28 | |
| Cadence Design Systems Inc. | 0.35 | 0.16 | 0.21 | 0.11 | 0.12 | — | |
| CrowdStrike Holdings Inc. | 0.24 | 0.34 | 0.42 | 0.46 | 0.00 | — | |
| Fair Isaac Corp. | 1.77 | 1.59 | 1.76 | 1.10 | 0.72 | 0.74 | |
| International Business Machines Corp. | 0.67 | 0.72 | 0.70 | 0.73 | 0.75 | — | |
| Intuit Inc. | 0.25 | 0.26 | 0.30 | 0.17 | 0.40 | 0.10 | |
| Microsoft Corp. | 0.23 | 0.24 | 0.28 | 0.33 | 0.38 | 0.43 | |
| Oracle Corp. | 0.91 | 0.99 | 1.09 | 0.94 | 0.86 | — | |
| Palantir Technologies Inc. | 0.00 | 0.00 | 0.00 | 0.00 | 0.12 | — | |
| Palo Alto Networks Inc. | 0.16 | 0.53 | 0.95 | 0.84 | 0.74 | 0.47 | |
| Salesforce Inc. | 0.15 | 0.16 | 0.16 | 0.06 | 0.08 | — | |
| ServiceNow Inc. | 0.13 | 0.16 | 0.23 | 0.30 | 0.37 | — | |
| Synopsys Inc. | 0.00 | 0.00 | 0.00 | 0.02 | 0.03 | 0.03 | |
| Workday Inc. | 0.27 | 0.35 | 0.29 | 0.35 | 0.34 | — | |
| Debt to Capital, Sector | |||||||
| Software & Services | 0.35 | 0.39 | 0.42 | 0.45 | 0.49 | — | |
| Debt to Capital, Industry | |||||||
| Information Technology | 0.38 | 0.40 | 0.41 | 0.45 | 0.49 | — | |
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
Debt to capital = Total debt ÷ Total capital
= 2,284 ÷ 4,139 = 0.55
2 Click competitor name to see calculations.
- Total Debt
- The total debt exhibited fluctuations over the observed years. It started at 2,088 million US dollars in early 2019 and slightly decreased to 2,085 million in early 2020. In 2021, there was a notable reduction to 1,637 million, followed by a sharp increase to 2,628 million in 2022. The subsequent two years saw a decline, with debt levels recorded at 2,281 million and 2,284 million respectively in 2023 and 2024.
- Total Capital
- Total capital showed a generally increasing trend throughout the period. Beginning at 1,877 million US dollars in 2019, it increased modestly to 1,946 million in 2020. A more significant rise occurred in 2021, reaching 2,603 million, followed by continued growth to 3,477 million in 2022. There was a slight decrease to 3,426 million in 2023, which was reversed with a considerable increase to 4,139 million in 2024.
- Debt to Capital Ratio
- This ratio consistently declined from 1.11 in 2019 to 0.55 in 2024, indicating an improved capital structure over time. The sharpest decrease was observed between 2020 (1.07) and 2021 (0.63), coinciding with the reduction in total debt and the increase in total capital. Although debt saw a temporary rise in 2022, the ratio remained lower than earlier periods at 0.76, followed by further decreases in subsequent years.
- Overall Analysis
- Over the analyzed timeframe, the company’s capital base expanded significantly while maintaining a downward trend in the debt-to-capital ratio. Despite volatility in debt levels, the firm strengthened its capital structure, reflected in a lower reliance on debt financing relative to overall capital. This suggests a strategic shift towards enhanced financial stability and potentially lower risk exposure.
Debt to Capital (including Operating Lease Liability)
Autodesk Inc., debt to capital (including operating lease liability) 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) | |||||||
| Current portion of long-term notes payable, net | —) | —) | 350) | —) | 450) | —) | |
| Long-term notes payable, net, excluding current portion | 2,284) | 2,281) | 2,278) | 1,637) | 1,635) | 2,088) | |
| Total debt | 2,284) | 2,281) | 2,628) | 1,637) | 2,085) | 2,088) | |
| Current operating lease liabilities | 67) | 85) | 87) | 71) | 48) | —) | |
| Long-term operating lease liabilities | 275) | 300) | 346) | 396) | 412) | —) | |
| Total debt (including operating lease liability) | 2,626) | 2,666) | 3,060) | 2,105) | 2,545) | 2,088) | |
| Stockholders’ equity (deficit) | 1,855) | 1,145) | 849) | 966) | (139) | (211) | |
| Total capital (including operating lease liability) | 4,481) | 3,811) | 3,909) | 3,070) | 2,406) | 1,877) | |
| Solvency Ratio | |||||||
| Debt to capital (including operating lease liability)1 | 0.59 | 0.70 | 0.78 | 0.69 | 1.06 | 1.11 | |
| Benchmarks | |||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | |||||||
| Accenture PLC | 0.13 | 0.11 | 0.13 | 0.15 | 0.17 | 0.00 | |
| Adobe Inc. | 0.30 | 0.20 | 0.25 | 0.24 | 0.26 | 0.28 | |
| Cadence Design Systems Inc. | 0.36 | 0.19 | 0.25 | 0.15 | 0.17 | — | |
| CrowdStrike Holdings Inc. | 0.26 | 0.35 | 0.43 | 0.47 | 0.00 | — | |
| Fair Isaac Corp. | 1.75 | 1.57 | 1.72 | 1.09 | 0.74 | 0.74 | |
| International Business Machines Corp. | 0.68 | 0.73 | 0.71 | 0.74 | 0.76 | — | |
| Intuit Inc. | 0.26 | 0.28 | 0.31 | 0.20 | 0.42 | 0.10 | |
| Microsoft Corp. | 0.27 | 0.28 | 0.32 | 0.37 | 0.41 | 0.46 | |
| Oracle Corp. | 0.92 | 0.99 | 1.08 | 0.94 | 0.86 | — | |
| Palantir Technologies Inc. | 0.05 | 0.06 | 0.09 | 0.10 | 0.23 | — | |
| Palo Alto Networks Inc. | 0.21 | 0.57 | 0.95 | 0.85 | 0.76 | 0.47 | |
| Salesforce Inc. | 0.19 | 0.20 | 0.20 | 0.13 | 0.16 | — | |
| ServiceNow Inc. | 0.19 | 0.23 | 0.31 | 0.37 | 0.43 | — | |
| Synopsys Inc. | 0.07 | 0.10 | 0.11 | 0.11 | 0.12 | 0.03 | |
| Workday Inc. | 0.29 | 0.37 | 0.32 | 0.41 | 0.39 | — | |
| Debt to Capital (including Operating Lease Liability), Sector | |||||||
| Software & Services | 0.39 | 0.42 | 0.45 | 0.48 | 0.51 | — | |
| Debt to Capital (including Operating Lease Liability), Industry | |||||||
| Information Technology | 0.40 | 0.42 | 0.44 | 0.48 | 0.51 | — | |
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
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 2,626 ÷ 4,481 = 0.59
2 Click competitor name to see calculations.
- Total Debt (including operating lease liability)
- The total debt displayed fluctuations over the observed period. There was an initial increase from 2088 million US dollars in 2019 to 2545 million in 2020, followed by a decrease to 2105 million in 2021. Subsequently, the debt escalated significantly to 3060 million in 2022 before declining moderately to 2666 million in 2023 and slightly to 2626 million in 2024. Overall, the debt peaked in 2022 and showed a slight reduction thereafter.
- Total Capital (including operating lease liability)
- Total capital demonstrated a consistent upward trend from 1877 million US dollars in 2019 to 4481 million in 2024. This represents a substantial growth across the six-year span. Notably, the capital rose steadily each year with pronounced increases in 2021 and 2024, indicating a significant enhancement in the company’s capital base.
- Debt to Capital Ratio (including operating lease liability)
- The debt to capital ratio decreased notably over the period. Starting above 1.0 in 2019 and 2020 (1.11 and 1.06 respectively), it declined sharply to 0.69 in 2021. Subsequently, the ratio hovered around 0.7 in 2022 and 2023, before further decreasing to 0.59 in 2024. This downward trend suggests an improvement in the financial structure, with a relatively lower reliance on debt compared to the total capital.
- Summary of trends
- While total debt showed variability with a peak in 2022, total capital consistently increased, signifying growth in resources or equity. The decreasing debt to capital ratio corroborates a strengthening capital structure, reflecting reduced leverage and potentially lower financial risk. This pattern may indicate strategic efforts to improve solvency and financial stability over the evaluated years.
Debt to Assets
Autodesk Inc., debt to assets 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) | |||||||
| Current portion of long-term notes payable, net | —) | —) | 350) | —) | 450) | —) | |
| Long-term notes payable, net, excluding current portion | 2,284) | 2,281) | 2,278) | 1,637) | 1,635) | 2,088) | |
| Total debt | 2,284) | 2,281) | 2,628) | 1,637) | 2,085) | 2,088) | |
| Total assets | 9,912) | 9,438) | 8,607) | 7,280) | 6,179) | 4,729) | |
| Solvency Ratio | |||||||
| Debt to assets1 | 0.23 | 0.24 | 0.31 | 0.22 | 0.34 | 0.44 | |
| Benchmarks | |||||||
| Debt to Assets, Competitors2 | |||||||
| Accenture PLC | 0.02 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Adobe Inc. | 0.19 | 0.12 | 0.15 | 0.15 | 0.17 | 0.20 | |
| Cadence Design Systems Inc. | 0.28 | 0.11 | 0.15 | 0.08 | 0.09 | — | |
| CrowdStrike Holdings Inc. | 0.11 | 0.15 | 0.20 | 0.27 | 0.00 | — | |
| Fair Isaac Corp. | 1.29 | 1.18 | 1.29 | 0.80 | 0.52 | 0.58 | |
| International Business Machines Corp. | 0.40 | 0.42 | 0.40 | 0.39 | 0.39 | — | |
| Intuit Inc. | 0.19 | 0.22 | 0.25 | 0.13 | 0.31 | 0.07 | |
| Microsoft Corp. | 0.15 | 0.16 | 0.18 | 0.21 | 0.24 | 0.27 | |
| Oracle Corp. | 0.62 | 0.67 | 0.69 | 0.64 | 0.62 | — | |
| Palantir Technologies Inc. | 0.00 | 0.00 | 0.00 | 0.00 | 0.07 | — | |
| Palo Alto Networks Inc. | 0.05 | 0.14 | 0.30 | 0.31 | 0.34 | 0.22 | |
| Salesforce Inc. | 0.10 | 0.12 | 0.12 | 0.04 | 0.06 | — | |
| ServiceNow Inc. | 0.07 | 0.09 | 0.11 | 0.15 | 0.19 | — | |
| Synopsys Inc. | 0.00 | 0.00 | 0.00 | 0.01 | 0.02 | 0.02 | |
| Workday Inc. | 0.18 | 0.22 | 0.18 | 0.21 | 0.19 | — | |
| Debt to Assets, Sector | |||||||
| Software & Services | 0.23 | 0.25 | 0.26 | 0.28 | 0.30 | — | |
| Debt to Assets, Industry | |||||||
| Information Technology | 0.25 | 0.26 | 0.26 | 0.29 | 0.31 | — | |
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
Debt to assets = Total debt ÷ Total assets
= 2,284 ÷ 9,912 = 0.23
2 Click competitor name to see calculations.
- Total debt
- The total debt exhibited fluctuations over the analyzed period. Initially, it remained relatively stable from 2019 to 2020, with a slight decrease observed in 2021. However, it increased markedly in 2022, reaching the highest level within the timeframe. Subsequent years saw a decrease in total debt, which then stabilized through 2024.
- Total assets
- Total assets showed a consistent upward trend throughout the period. The increase was steady each year, with no downturns or stagnation, reflecting ongoing growth in the asset base from 2019 through 2024.
- Debt to assets ratio
- The debt to assets ratio generally decreased over the examined years, indicating an improvement in the company's leverage position. Notably, the ratio dropped significantly from 2019 to 2021, suggesting a reduction in reliance on debt relative to asset size. Although there was a temporary increase in 2022 that corresponds with the rise in total debt during that year, the ratio resumed its downward trend in the following years, remaining at a relatively low level by 2024.
Debt to Assets (including Operating Lease Liability)
Autodesk Inc., debt to assets (including operating lease liability) 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) | |||||||
| Current portion of long-term notes payable, net | —) | —) | 350) | —) | 450) | —) | |
| Long-term notes payable, net, excluding current portion | 2,284) | 2,281) | 2,278) | 1,637) | 1,635) | 2,088) | |
| Total debt | 2,284) | 2,281) | 2,628) | 1,637) | 2,085) | 2,088) | |
| Current operating lease liabilities | 67) | 85) | 87) | 71) | 48) | —) | |
| Long-term operating lease liabilities | 275) | 300) | 346) | 396) | 412) | —) | |
| Total debt (including operating lease liability) | 2,626) | 2,666) | 3,060) | 2,105) | 2,545) | 2,088) | |
| Total assets | 9,912) | 9,438) | 8,607) | 7,280) | 6,179) | 4,729) | |
| Solvency Ratio | |||||||
| Debt to assets (including operating lease liability)1 | 0.26 | 0.28 | 0.36 | 0.29 | 0.41 | 0.44 | |
| Benchmarks | |||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | |||||||
| Accenture PLC | 0.07 | 0.06 | 0.07 | 0.08 | 0.09 | 0.00 | |
| Adobe Inc. | 0.20 | 0.14 | 0.17 | 0.17 | 0.19 | 0.20 | |
| Cadence Design Systems Inc. | 0.29 | 0.14 | 0.18 | 0.11 | 0.13 | — | |
| CrowdStrike Holdings Inc. | 0.12 | 0.16 | 0.21 | 0.29 | 0.00 | — | |
| Fair Isaac Corp. | 1.31 | 1.21 | 1.33 | 0.85 | 0.58 | 0.58 | |
| International Business Machines Corp. | 0.43 | 0.44 | 0.42 | 0.42 | 0.43 | — | |
| Intuit Inc. | 0.20 | 0.24 | 0.27 | 0.16 | 0.33 | 0.07 | |
| Microsoft Corp. | 0.19 | 0.19 | 0.21 | 0.25 | 0.27 | 0.30 | |
| Oracle Corp. | 0.67 | 0.71 | 0.73 | 0.66 | 0.64 | — | |
| Palantir Technologies Inc. | 0.04 | 0.05 | 0.07 | 0.08 | 0.17 | — | |
| Palo Alto Networks Inc. | 0.07 | 0.16 | 0.33 | 0.35 | 0.38 | 0.22 | |
| Salesforce Inc. | 0.14 | 0.15 | 0.15 | 0.10 | 0.11 | — | |
| ServiceNow Inc. | 0.11 | 0.13 | 0.17 | 0.21 | 0.24 | — | |
| Synopsys Inc. | 0.05 | 0.07 | 0.07 | 0.08 | 0.08 | 0.02 | |
| Workday Inc. | 0.20 | 0.24 | 0.20 | 0.26 | 0.23 | — | |
| Debt to Assets (including Operating Lease Liability), Sector | |||||||
| Software & Services | 0.27 | 0.29 | 0.30 | 0.32 | 0.34 | — | |
| Debt to Assets (including Operating Lease Liability), Industry | |||||||
| Information Technology | 0.27 | 0.28 | 0.29 | 0.31 | 0.33 | — | |
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
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 2,626 ÷ 9,912 = 0.26
2 Click competitor name to see calculations.
- Total Debt (Including Operating Lease Liability)
- The total debt experienced fluctuations over the examined periods. Starting at 2,088 million USD in 2019, it increased to 2,545 million USD in 2020, then decreased to 2,105 million USD in 2021. A significant rise occurred in 2022 to 3,060 million USD, followed by a decline to 2,666 million USD in 2023 and a slight decrease to 2,626 million USD in 2024. This indicates variability in the company's leverage management, with a notable peak in 2022 before reducing again.
- Total Assets
- Total assets showed a consistent upward trend throughout the period. Starting at 4,729 million USD in 2019, the assets expanded annually, reaching 6,179 million USD in 2020 and continuing to 7,280 million USD in 2021. The growth persisted with 8,607 million USD in 2022, 9,438 million USD in 2023, and 9,912 million USD in 2024. This steady increase reflects ongoing asset accumulation or investment by the company.
- Debt to Assets Ratio (Including Operating Lease Liability)
- The debt to assets ratio demonstrated a general decline over the six-year span, suggesting improved solvency or reduced reliance on debt financing relative to asset size. Starting at 0.44 in 2019, the ratio decreased to 0.41 in 2020 and further dropped to 0.29 in 2021. Although there was a temporary increase to 0.36 in 2022, the ratio declined again to 0.28 in 2023 and 0.26 in 2024. This trend implies that despite fluctuations in total debt, asset growth outpaced debt increases, enhancing the company's financial leverage position.
Financial Leverage
Autodesk Inc., financial leverage 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) | |||||||
| Total assets | 9,912) | 9,438) | 8,607) | 7,280) | 6,179) | 4,729) | |
| Stockholders’ equity (deficit) | 1,855) | 1,145) | 849) | 966) | (139) | (211) | |
| Solvency Ratio | |||||||
| Financial leverage1 | 5.34 | 8.24 | 10.14 | 7.54 | — | — | |
| Benchmarks | |||||||
| Financial Leverage, Competitors2 | |||||||
| Accenture PLC | 1.98 | 1.99 | 2.14 | 2.21 | 2.18 | 2.07 | |
| Adobe Inc. | 2.14 | 1.80 | 1.93 | 1.84 | 1.83 | 1.97 | |
| Cadence Design Systems Inc. | 1.92 | 1.67 | 1.87 | 1.60 | 1.58 | — | |
| CrowdStrike Holdings Inc. | 2.88 | 3.43 | 3.53 | 3.14 | 1.89 | — | |
| Fair Isaac Corp. | — | — | — | — | 4.85 | 4.95 | |
| International Business Machines Corp. | 5.02 | 6.00 | 5.80 | 6.98 | 7.57 | — | |
| Intuit Inc. | 1.74 | 1.61 | 1.69 | 1.57 | 2.14 | 1.68 | |
| Microsoft Corp. | 1.91 | 2.00 | 2.19 | 2.35 | 2.55 | 2.80 | |
| Oracle Corp. | 16.20 | 125.24 | — | 25.03 | 9.56 | — | |
| Palantir Technologies Inc. | 1.27 | 1.30 | 1.35 | 1.42 | 1.77 | — | |
| Palo Alto Networks Inc. | 3.87 | 8.29 | 58.35 | 16.14 | 8.23 | 4.16 | |
| Salesforce Inc. | 1.67 | 1.69 | 1.64 | 1.60 | 1.63 | — | |
| ServiceNow Inc. | 2.12 | 2.28 | 2.64 | 2.92 | 3.07 | — | |
| Synopsys Inc. | 1.45 | 1.68 | 1.71 | 1.65 | 1.64 | 1.57 | |
| Workday Inc. | 2.04 | 2.41 | 2.31 | 2.66 | 2.74 | — | |
| Financial Leverage, Sector | |||||||
| Software & Services | 2.36 | 2.55 | 2.73 | 2.96 | 3.14 | — | |
| Financial Leverage, Industry | |||||||
| Information Technology | 2.46 | 2.56 | 2.69 | 2.90 | 3.12 | — | |
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
Financial leverage = Total assets ÷ Stockholders’ equity (deficit)
= 9,912 ÷ 1,855 = 5.34
2 Click competitor name to see calculations.
- Total Assets
- The total assets have shown a consistent upward trend over the analyzed periods. Starting at approximately 4,729 million US dollars in January 2019, the assets increased steadily each year, reaching about 9,912 million US dollars by January 2024. This represents more than a doubling of total assets over five years, indicating sustained growth in the company's asset base.
- Stockholders’ Equity (Deficit)
- The stockholders' equity experienced significant fluctuations during the period. Initially, there was a deficit of 211 million US dollars in January 2019, which slightly improved to a deficit of 139 million US dollars by January 2020. From January 2021 onward, there was a notable positive shift, with equity turning positive at 966 million US dollars and fluctuating thereafter. By January 2024, stockholders’ equity had increased to 1,855 million US dollars, reflecting an overall strengthening of the company’s net equity position.
- Financial Leverage Ratio
- Financial leverage ratios are available from January 2021 onwards, starting at 7.54 and increasing to a peak of 10.14 in January 2022. After this peak, the leverage ratio declined to 8.24 in January 2023 and further decreased to 5.34 by January 2024. This pattern suggests an initial increase in the use of debt relative to equity followed by a reduction in leverage, potentially indicating improved financial stability and lower reliance on debt financing toward the end of the period.
Interest Coverage
Autodesk Inc., interest coverage 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 income (loss) | 906) | 823) | 497) | 1,208) | 215) | (81) | |
| Add: Income tax expense | 230) | 123) | 68) | (662) | 80) | 38) | |
| Add: Interest and investment income (expense), net | (26) | 71) | 65) | 51) | 54) | 52) | |
| Earnings before interest and tax (EBIT) | 1,110) | 1,017) | 630) | 598) | 349) | 9) | |
| Solvency Ratio | |||||||
| Interest coverage1 | — | 14.32 | 9.69 | 11.70 | 6.46 | 0.18 | |
| Benchmarks | |||||||
| Interest Coverage, Competitors2 | |||||||
| Accenture PLC | 165.48 | 193.31 | 195.34 | 131.46 | 205.84 | 273.26 | |
| Adobe Inc. | 42.01 | 61.17 | 54.64 | 51.49 | 37.00 | 21.38 | |
| Cadence Design Systems Inc. | 19.37 | 36.43 | 46.58 | 46.26 | 31.50 | — | |
| CrowdStrike Holdings Inc. | 5.77 | -5.31 | -5.34 | -55.36 | -315.25 | — | |
| Fair Isaac Corp. | 7.08 | 6.79 | 7.83 | 12.80 | 7.09 | 6.44 | |
| International Business Machines Corp. | 4.40 | 6.42 | 1.97 | 5.20 | 4.62 | — | |
| Intuit Inc. | 15.67 | 13.05 | 32.38 | 89.14 | 158.00 | 126.40 | |
| Microsoft Corp. | 37.72 | 46.38 | 41.58 | 31.31 | 21.47 | 17.27 | |
| Oracle Corp. | 4.39 | 3.65 | 3.84 | 6.28 | 7.13 | — | |
| Palantir Technologies Inc. | — | 69.33 | -87.97 | -133.20 | -82.39 | — | |
| Palo Alto Networks Inc. | 120.07 | 21.82 | -6.56 | -1.85 | -1.61 | 0.11 | |
| Salesforce Inc. | 18.49 | 3.20 | 7.93 | 21.49 | 6.43 | — | |
| ServiceNow Inc. | 76.57 | 43.00 | 15.78 | 9.89 | 5.56 | — | |
| Synopsys Inc. | 44.06 | 1,106.08 | 657.96 | 240.38 | 125.16 | 47.79 | |
| Workday Inc. | 4.12 | -1.54 | 1.97 | -3.00 | -7.22 | — | |
| Interest Coverage, Sector | |||||||
| Software & Services | 17.98 | 17.22 | 18.09 | 17.35 | 13.97 | — | |
| Interest Coverage, Industry | |||||||
| Information Technology | 19.55 | 17.69 | 22.65 | 19.92 | 14.14 | — | |
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
Interest coverage = EBIT ÷ Interest expense
= 1,110 ÷ -26 = —
2 Click competitor name to see calculations.
- Earnings before interest and tax (EBIT)
- The EBIT showed a sharp decline from 9,349 million USD in 2019 to 598 million USD in 2020, representing a significant drop. Following this, there was a steady recovery and growth trend from 2020 onward, with EBIT rising to 630 million USD in 2021, 1,017 million USD in 2022, and further to 1,110 million USD in 2024. This indicates a strong rebound and improved operational performance in recent years after the initial sharp decrease.
- Interest and investment income (expense), net
- The net interest and investment income remained relatively stable between 2019 and 2023, fluctuating modestly from 52 million USD in 2019 to a peak of 71 million USD in 2023. However, in 2024, there was a notable negative shift to -26 million USD, suggesting increased expense or reduced income in this category for that year.
- Interest coverage
- The interest coverage ratio exhibited a remarkable improvement from an extremely low level of 0.18 in 2019 to 6.46 in 2020. It further increased to 11.7 in 2021, indicating enhanced ability to meet interest obligations. In 2022 and 2023, the ratio remained strong at 9.69 and 14.32 respectively, reflecting continued robust earnings relative to interest expense. The value for 2024 was not reported, which limits assessment for the most recent period.
Fixed Charge Coverage
Autodesk Inc., fixed charge coverage 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 income (loss) | 906) | 823) | 497) | 1,208) | 215) | (81) | |
| Add: Income tax expense | 230) | 123) | 68) | (662) | 80) | 38) | |
| Add: Interest and investment income (expense), net | (26) | 71) | 65) | 51) | 54) | 52) | |
| Earnings before interest and tax (EBIT) | 1,110) | 1,017) | 630) | 598) | 349) | 9) | |
| Add: Operating lease cost | 71) | 85) | 98) | 101) | 87) | 61) | |
| Earnings before fixed charges and tax | 1,181) | 1,102) | 728) | 699) | 436) | 70) | |
| Interest and investment income (expense), net | (26) | 71) | 65) | 51) | 54) | 52) | |
| Operating lease cost | 71) | 85) | 98) | 101) | 87) | 61) | |
| Fixed charges | 45) | 156) | 163) | 153) | 141) | 113) | |
| Solvency Ratio | |||||||
| Fixed charge coverage1 | 26.24 | 7.06 | 4.46 | 4.58 | 3.09 | 0.62 | |
| Benchmarks | |||||||
| Fixed Charge Coverage, Competitors2 | |||||||
| Accenture PLC | 13.46 | 10.98 | 12.25 | 10.41 | 9.66 | 10.07 | |
| Adobe Inc. | 26.20 | 30.56 | 26.79 | 25.59 | 18.77 | 10.78 | |
| Cadence Design Systems Inc. | 11.13 | 14.79 | 15.50 | 13.77 | 11.46 | — | |
| CrowdStrike Holdings Inc. | 3.98 | -3.39 | -3.39 | -6.40 | -12.01 | — | |
| Fair Isaac Corp. | 6.35 | 5.94 | 6.39 | 8.93 | 4.91 | 4.52 | |
| International Business Machines Corp. | 3.13 | 4.32 | 1.52 | 3.13 | 2.62 | — | |
| Intuit Inc. | 11.14 | 9.03 | 14.67 | 25.58 | 27.48 | 34.00 | |
| Microsoft Corp. | 17.61 | 19.44 | 19.50 | 16.90 | 12.44 | 10.94 | |
| Oracle Corp. | 3.55 | 3.12 | 3.22 | 5.17 | 5.68 | — | |
| Palantir Technologies Inc. | 9.48 | 4.62 | -5.06 | -7.89 | -16.41 | — | |
| Palo Alto Networks Inc. | 12.78 | 7.20 | -1.18 | -1.09 | -0.52 | 0.41 | |
| Salesforce Inc. | 4.74 | 1.51 | 2.18 | 2.92 | 1.68 | — | |
| ServiceNow Inc. | 12.36 | 7.59 | 3.87 | 2.95 | 2.29 | — | |
| Synopsys Inc. | 12.88 | 14.38 | 12.91 | 9.29 | 7.46 | 6.30 | |
| Workday Inc. | 2.60 | -0.29 | 1.15 | -0.69 | -2.35 | — | |
| Fixed Charge Coverage, Sector | |||||||
| Software & Services | 9.99 | 9.48 | 9.44 | 9.23 | 7.43 | — | |
| Fixed Charge Coverage, Industry | |||||||
| Information Technology | 12.44 | 11.34 | 13.44 | 12.21 | 9.04 | — | |
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
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 1,181 ÷ 45 = 26.24
2 Click competitor name to see calculations.
- Earnings before fixed charges and tax
- The earnings before fixed charges and tax show a consistent and substantial upward trend over the six-year period. Starting from 70 million US dollars in 2019, the figure increases significantly to 1181 million US dollars by 2024. This indicates strong growth in the company's operating profitability before accounting for fixed charges.
- Fixed charges
- Fixed charges increased gradually from 113 million US dollars in 2019 to a peak of 163 million US dollars in 2022, followed by a decrease to 45 million US dollars in 2024. This decline in fixed charges in the final year could suggest changes in the company's capital structure or cost management strategies related to interest expenses or lease obligations.
- Fixed charge coverage ratio
- The fixed charge coverage ratio improved dramatically over the analyzed years. Beginning at a low ratio of 0.62 in 2019, the coverage ratio climbs steadily to 7.06 by 2023 and then surges to 26.24 in 2024. This sharp increase reflects the combination of rising earnings before fixed charges and tax and the reduction in fixed charges, indicating greatly enhanced ability to meet fixed financial obligations.