Executive Summary
Autodesk LLC reported a resilient QQ3 2025 with solid top-line growth, strong profitability, and robust cash generation anchored by its subscription-driven software portfolio. Revenue reached $1.57 billion, up 12% year-over-year and 4.3% quarter-over-quarter, driven by continued demand for core design and engineering tools, as well as expanding adoption of cloud-enabled and subscription-based offerings. The company delivered an operating income of $346 million and net income of $275 million, translating to operating and net margins of roughly 22.0% and 17.5%, respectively. Free cash flow remained healthy at approximately $199 million, and Autodesk maintained a solid balance sheet with cash and short-term investments of about $1.71 billion and net debt of roughly $1.14 billion.
Key Performance Indicators
Key Insights
Revenue: $1.57B, YoY +12.14%, QoQ +4.32%; Gross Profit: $1.423B, Gross Margin ~90.6%; Operating Income: $346M, Operating Margin ~22.0%; EBITDA: $394M, EBITDA Margin ~25.1%; Net Income: $275M, Net Margin ~17.5%; EPS (GAAP): $1.28; EPS (Diluted): $1.27; Cash Flow: Operating Cash Flow $209M; Free Cash Flow $199M; Cash/Investments: Cash and equivalents $1.437B; Total Debt: $2.578B; Net Debt: $1.141B; Deferred Revenue (current): $3.277B; Deferred Revenue (non-current): $381M; Goodwill: $4.256B; Intan...
Financial Highlights
Revenue: $1.57B, YoY +12.14%, QoQ +4.32%; Gross Profit: $1.423B, Gross Margin ~90.6%; Operating Income: $346M, Operating Margin ~22.0%; EBITDA: $394M, EBITDA Margin ~25.1%; Net Income: $275M, Net Margin ~17.5%; EPS (GAAP): $1.28; EPS (Diluted): $1.27; Cash Flow: Operating Cash Flow $209M; Free Cash Flow $199M; Cash/Investments: Cash and equivalents $1.437B; Total Debt: $2.578B; Net Debt: $1.141B; Deferred Revenue (current): $3.277B; Deferred Revenue (non-current): $381M; Goodwill: $4.256B; Intangible Assets: $5.94B; Total Assets: $10.133B; Total Liabilities: $7.518B; Total Shareholders’ Equity: $2.616B; Current Ratio: 0.65; P/E: ~55.7x; P/S: ~39.1x; P/B: ~23.4x; FCF Yield: ~12.7%
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
1.57B |
12.14% |
4.32% |
| Gross Profit |
1.42B |
12.67% |
4.25% |
| Operating Income |
346.00M |
5.17% |
0.87% |
| Net Income |
275.00M |
14.11% |
-2.48% |
| EPS |
1.28 |
13.27% |
-2.29% |
Key Financial Ratios
operatingProfitMargin
22.4%
operatingCashFlowPerShare
$0.97
freeCashFlowPerShare
$0.93
Management Commentary
Note: The earnings transcript data set is not provided in the materials. As a result, no management quotes or call-by-call thematic highlights can be cited. The synthesis below relies on the disclosed financials and industry context.
Forward Guidance
The supplied data does not include an explicit forward guidance from Autodesk management for QQ4 2025 or beyond. Based on the QQ3 2025 results, the business exhibits solid revenue growth and strong profitability with high recurring revenue characteristics typical of a subscription software model. Investors should monitor: (1) ARR and renewal rates as a proxy for renewal stability and pricing power; (2) product mix shifts between core design tools and broader cloud-based offerings (e.g., BIM/Construction Cloud, Fusion 360) that may impact growth trajectory and gross margins; (3) the trajectory of deferred revenue and potential impairment risk given the large goodwill/intangible base; (4) capital allocation pace, including share repurchases versus investment in R&D and acquisitions; and (5) macroeconomic conditions and FX exposure given Autodesk’s international exposure.