Autodesk Inc (0HJF.L) Q2 2025 Earnings Report

Autodesk delivered solid QQ2 2025 results with revenue of $1.505 billion, up 13.3% year over year and 6.2% quarter over quarter. The company posted robust gross margin of 90.7%, driven by a high-margin software and subscription mix, and reported operating income of $343 million (operating margin ~22.8%), leading to net income of $282 million and EPS of $1.31 (diluted $1.30). Free cash flow stood at $198 million, underpinned by $212 million of operating cash flow and restrained capital expenditures of $14 million. On the balance sheet, Autodesk held $1.513 billion in cash and equivalents, supported by total liabilities of $7.486 billion and total stockholders’ equity of $2.474 billion, leaving net debt of approximately $1.09 billion. Deferred revenue remains a meaningful source of near-term revenue visibility, totaling about $3.228 billion, while the current ratio sits at 0.64, highlighting a liquidity profile that reflects a software subscription model with sizeable deferred revenue. Relative to peers and benchmarks, Autodesk continues to exhibit durable profitability with high gross margins and strong cash generation, albeit trading at premium multiples. The lack of an explicit management transcript in the provided data limits direct quotes from the call, but the quantitative results indicate a constructive quarter with favorable demand dynamics and healthy profitability.