Autodesk, Inc.

Worth knowing

• Buybacks largely absorbed by stock pay. Stock-based pay expense $2.2B vs $3.0B spent repurchasing shares over the 3 fiscal years to FY Jan 2026. Shares outstanding changed −2.8% from January 2023 to August 2026.

  Over three fiscal years Autodesk recorded $2.2B of stock-based pay expense and spent $3.0B repurchasing shares (repurchases can include shares withheld to cover employees' taxes). The share count barely moved (−2.8%), so much of the repurchasing offset new employee shares rather than shrinking the count.Over three fiscal years Autodesk recorded $2.2B of stock-based pay expense and spent $3.0B repurchasing shares. The share count barely moved (−2.8%), so much of the repurchasing offset new employee shares rather than shrinking the count.

• Stock-based pay is a large cost. Stock pay was 11% of revenue in FY Jan 2026.

  Autodesk paid employees $788M in stock in FY Jan 2026, 11% of its $7.2B revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.

• Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $3.8B in FY Jan 2021 to $7.2B in FY Jan 2026.

  Autodesk's fiscal-year revenue rose in each of the five years to FY Jan 2026, from $3.8B to $7.2B.

• Profit is backed by cash. Free cash flow is 173% of reported profit.

  Autodesk's free cash flow is 173% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.