Autodesk (ADSK) FY2025 results: revenue $6.1 billion, up 11.5% on the year

Autodesk, Inc. (ADSK) reported revenue of $6.1 billion for fiscal 2025, the year ended 31 January 2025, up 11.5% on the year before. Net income was $1.1 billion, up 22.7%, and diluted earnings per share $5.12. The figures are the company's own, from the 10-K it filed with the SEC on 6 March 2025.

Revenue

$6.1 billion

+11.5% on the year

FY2018FY2025

Operating margin

22.1%

20.5% a year earlier

FY2018FY2025

Net income

$1.1 billion

+22.7% on the year

FY2018FY2025

Diluted EPS

$5.12

+22.2% on the year

FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2025 · Q2 FY2025 · Q3 FY2025 · Q4 FY2025

Income statement (profit and loss)

$ million	FY2025	FY2024	FY2023	On the year
Revenue	6,131	5,497	5,005	+11.5%
Cost of revenue	578	511	480	+13.1%
Gross profit	5,553	4,986	4,525	+11.4%
Gross margin	90.6%	90.7%	90.4%
Research and development	1,485	1,373	1,219	+8.2%
Operating income	1,354	1,128	989	+20.0%
Operating margin	22.1%	20.5%	19.8%
Interest expense	71.0	71.0	83.0	0.0%
Pre-tax income	1,384	1,136	946	+21.8%
Income tax	272	230	123	+18.3%
Effective tax rate	19.7%	20.2%	13.0%
Net income	1,112	906	823	+22.7%
Net margin	18.1%	16.5%	16.4%
Diluted EPS	$5.12	$4.19	$3.78	+22.2%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2025	FY2024	FY2023	On the year
Operating cash flow	1,607	1,313	2,071	+22.4%
Capital expenditure	40.0	31.0	40.0	+29.0%
Free cash flow	1,567	1,282	2,031	+22.2%
Free cash flow margin	25.6%	23.3%	40.6%
Cash from investing	-903	-502	-143
Cash from financing	-987	-852	-1,487
Depreciation and amortisation	180	139	150	+29.5%
Share-based compensation	683	703	657	-2.8%
Buybacks	852	795	1,101	+7.2%
Dividends paid	0.0	0.0	0.0
Diluted shares, weighted	217m	216m	218m	+0.5%
Shares outstanding at period end	214m	214m	215m	0.0%

Balance sheet

$ million	FY2025	FY2024	FY2023	On the year
Shareholders' equity	2,621	1,855	1,145	+41.3%
Debt	2,300	2,300	2,300	0.0%
Operating lease liabilities	214	275	300	-22.2%
Other liabilities	5,698	5,482	5,693	+3.9%
Total liabilities and equity	10,833	9,912	9,438	+9.3%
Fixed assets	117	121	144	-3.3%
Goodwill	4,242	3,653	3,625	+16.1%
Intangible assets	574	406	407	+41.4%
Investments	554	588	227	-5.8%
Cash and equivalents	1,599	1,892	1,947	-15.5%
Receivables	1,008	876	961	+15.1%
Other assets	2,739	2,376	2,127	+15.3%
Total assets	10,833	9,912	9,438	+9.3%

10-K for the year ended 31 January 2025, filed 6 March 2025: the filing.