AUTODESK Reports Q2 2023 Earnings Results on August 23
September 6, 2023
🌥️Earnings Overview
On August 23 2023, AUTODESK ($NASDAQ:ADSK) revealed their financial performance for their second fiscal quarter ending July 31 2023. The company had a total revenue of USD 1345.0 million, which was 8.7% more than the same period in the previous year. Likewise, the net income of USD 222.0 million was 19.4% higher year-over-year.
Price History
On Wednesday, August 23rd, AUTODESK reported its second quarter 2023 earnings results. AUTODESK stock opened at $202.2 and closed at $204.4, up by 1.9% from the previous closing price of 200.6. This increase represents an indication of investor optimism over the company’s financial performance. Combined with the strong balance sheet, these figures suggest that AUTODESK is on a positive trajectory for 2023. Analysts and investors are optimistic about the company’s performance and believe that AUTODESK will continue to deliver strong financial results in the future.
The continued growth of the company’s products and services, particularly in the areas of 3D animation and artificial intelligence, have made these predictions likely. Overall, AUTODESK’s second quarter 2023 earnings results show that the company is performing well in a competitive market. The stock price increase and strong financial results indicate that investors and analysts remain confident in its future performance. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Autodesk. More…
| Total Revenues | Net Income | Net Margin |
| 5.21k | 874 | 16.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Autodesk. More…
| Operations | Investing | Financing |
| 2.24k | -538 | -1.42k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Autodesk. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 9.11k | 7.9k | 5.64 |
Key Ratios Snapshot
Some of the financial key ratios for Autodesk are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 13.8% | 24.8% | 19.6% |
| FCF Margin | ROE | ROA |
| 42.1% | 60.6% | 7.0% |
Analysis
At GoodWhale, we ran an analysis of AUTODESK‘s fundamentals, and concluded that the company is classified as a ‘gorilla’ – that is, a type of company that has achieved stable and high revenue or earnings growth due to its strong competitive advantage. We believe that investors who are looking for an established and successful company with a long-term growth strategy would be interested in AUTODESK. The company is strong in terms of asset, growth, and profitability, yet weak in dividend. We also found that AUTODESK has a high health score of 8/10 with regard to its cashflows and debt, making us confident that the company is capable of sustaining future operations in times of crisis. More…
Peers
In the world of architectural and engineering design software, Autodesk Inc. is a giant. Its main competitors are Beijing YJK Building Software Co Ltd, Nemetschek SE, and ZUKEN Inc. All three companies offer similar products and services, but Autodesk Inc. has the lion’s share of the market.
– Beijing YJK Building Software Co Ltd ($SZSE:300935)
Beijing YJK Building Software Co Ltd is a leading provider of enterprise software solutions in China. The company offers a comprehensive suite of products and services that enable organizations to streamline their operations, improve their productivity, and reduce their costs. Beijing YJK Building Software Co Ltd has a market cap of 2.21B as of 2022, a Return on Equity of 2.61%. The company’s products and services are used by a wide range of industries, including manufacturing, construction, healthcare, education, and government. Beijing YJK Building Software Co Ltd has a strong focus on innovation and R&D, and has a number of patents and intellectual property rights. The company’s products are distributed through a network of resellers and distributors in China and around the world.
– Nemetschek SE ($LTS:0FDT)
Nemetschek SE is a holding company for a group of companies that develop software solutions for the AEC industry. The company operates in two segments, Architecture, Engineering, and Construction (AEC) and Media & Entertainment (M&E). The AEC segment provides software solutions for the design, construction, and operation of buildings and infrastructure. The M&E segment provides software solutions for the creation, distribution, and monetization of digital content.
Nemetschek SE has a market cap of 5.53B as of 2022 and a Return on Equity of 22.14%. The company’s strong market position and financial performance are due to its diversified portfolio of software products and solutions, which cater to the needs of the AEC and M&E industries.
– ZUKEN Inc ($TSE:6947)
Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the largest banks in the world with total assets of over $2.5 trillion. MUFG has a long history dating back to the Meiji period in Japan and is currently one of the leading banks in Asia. The company offers a wide range of financial services including retail banking, corporate banking, investment banking, and asset management. MUFG has a strong presence in Japan with over 3,000 branches and a market share of around 20%. The company also has a significant international presence with operations in over 50 countries.
Summary
Investors may want to consider AUTODESK as a potential investment opportunity. The company achieved strong growth in the second fiscal quarter of 2023, reporting total revenue of USD 1345.0 million, an 8.7% year-over-year increase, and net income of USD 222.0 million, a 19.4% year-over-year increase. Although the current market environment remains uncertain, AUTODESK’s results suggest that it is well-positioned to capitalize on the rebound in its chosen industries. Its strong balance sheet, cash flow and earnings growth provide confidence that its current business model is successful and will continue to produce long-term value for shareholders.
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