Autodesk

[et3rn1ty]

Firma: Autodesk

Branche: Standardsoftware

WKN: 869964

ISIN: US0527691069

KGV 05: 50,3

 

Autodesk ist ein diversifiziertes Software-Unternehmen, das zielgerichtete Lösungen für die Erstellung, Verwaltung und gemeinsame Nutzung digitaler Datenbestände anbietet. Die Autodesk-Community umfasst mehr als sechs Millionen Anwender, vier globale strategische Partner Microsoft, Intel, Hewlett-Packard und IBM sowie 2.500 Entwickler von Zusatzwendungen. Sie alle verfolgen ein gemeinsames Ziel und jene Vision, mit der auch unser Unternehmen gegründet wurde: Innovation als treibende Kraft für Erfolg. Dieser Erfolg zeigt sich in den Leistungen und Errungenschaften unserer langjährigen Kunden, zu denen 100 Prozent der Fortune 100-Unternehmen und 98 Prozent der Fortune 500-Unternehmen zählen.....

 

Nicht nur AutoCAD ist die weltweit führende Architektursoftware, auch 3D Studio Max welches von Autodesk vertrieben wird, gehört zur führenden Softwarelösung im Bereich 3D-Software. Am 10.10.05 wurde bekanntgegeben, dass die neue Version von 3D Studio Max ausgeliefert wird. Aus meiner Sicht war die Vorgängerversion schon ein großer Erfolg.

 

Was denkt ihr?

Hat Autodesk noch weiteres Potenzial seine Marktführerschaft weiter auszubauen?

Was sagen die Charttechniker?

 

Grüße, et3rn1ty.

[Aktiencrash]

Aus charttechnischer Sicht ist der Aufwärtstrend noch intakt.

 

Als horiz. Unterstützung sehe ich zur Zeit die Marke um 32,- bzw. etwas tiefer bei ca. 28,30 . Die stärkste horiz. Unterstützung sehe ich bei ca. 20,50 , wenn alle Stricke reißen.

[Emilian]

Leider arbeite ich selbst in der Branche, die diese Firma abdeckt. Die Finanzkrise hat dem Kurs der Aktie naturgemäss recht übel mitgespielt. Dennoch hat Autodesk seine Marktführerschaft weiter ausgebaut und zwar gewaltig! Ich halte diesen Titel langfristig für unterbewertet - was meint Ihr?

[Owl]

https://investors.autodesk.com/news-releases/news-release-details/autodesk-inc-announces-fiscal-2023-third-quarter-results

 

Third Quarter Fiscal 2023 Financial Highlights

• Total revenue increased 14 percent to $1,280 million;
• GAAP operating margin was 20 percent, up 3 percentage points;
• Non-GAAP operating margin was 36 percent, up 4 percentage points;
• GAAP diluted EPS was $0.91; Non-GAAP diluted EPS was $1.70;
• Cash flow from operating activities was $469 million; free cash flow was $460 million.

"We recently announced Autodesk Fusion, Forma, and Flow, our three industry clouds, which will connect data, teams and workflows in the cloud on our trusted platform," said Andrew Anagnost, Autodesk president and CEO. "Increasing our engineering velocity, moving data from files to the cloud, and expanding our third-party ecosystem, will enable Autodesk to further increase customer value by delivering even greater efficiency and sustainability."

"In a more challenging macroeconomic environment, Autodesk performed in line with our expectations in the third quarter, excluding the impact of in-quarter currency movements on revenue. Subscription renewal rates remained strong, as did our competitive performance," said Debbie Clifford, Autodesk CFO. "Our fiscal 23 revenue, margin, and earnings per share guidance remains close to the previous mid-points at constant exchange rates and comfortably within our prior guidance ranges. Our lower billings and free cash flow guidance primarily reflect less demand for multi-year, up-front and more demand for annual contracts than we expected."

 

Additional Financial Details

• Total billings increased 16 percent to $1,360 million.
• Total revenue was $1,280 million, an increase of 14 percent as reported, and 15 percent on a constant currency basis. Recurring revenue represents 98 percent of total.
• Design revenue was $1,087 million, an increase of 12 percent as reported, and 14 percent on a constant currency basis. On a sequential basis, Design revenue increased 2 percent as reported and on a constant currency basis.
• Make revenue was $117 million, an increase of 24 percent as reported, and 26 percent on a constant currency basis. On a sequential basis, Make revenue increased 4 percent as reported and on a constant currency basis.
• Subscription plan revenue was $1,188 million, an increase of 14 percent as reported, and 15 percent on a constant currency basis. On a sequential basis, subscription plan revenue increased 2 percent as reported and on a constant currency basis.
• Net revenue retention rate remained within the range of 100 to 110 percent.
• GAAP operating income was $256 million, compared to $193 million in the third quarter last year. GAAP operating margin was 20 percent, up 3 percentage points compared to the third quarter last year.
• Total non-GAAP operating income was $465 million, compared to $365 million in the third quarter last year. Non-GAAP operating margin was 36 percent, up 4 percentage points compared to the third quarter last year.
• GAAP diluted net income per share was $0.91, compared to $0.62 in the third quarter last year.
• Non-GAAP diluted net income per share was $1.70, compared to $1.34 in the third quarter last year.
• Deferred revenue increased 13 percent to $3.78 billion. Unbilled deferred revenue was $896 million, an increase of $8 million compared to the third quarter of last year. Remaining performance obligations ("RPO") increased 11 percent to $4.68 billion. Current RPO increased 9 percent to $3.14 billion.
• Cash flow from operating activities was $469 million, an increase of $198 million compared to the third quarter last year. Free cash flow was $460 million, an increase of $203 million compared to the third quarter last year.

[Owl]

 

c) Autodesk (ADSK)

Results vs. Expectations:

Beat revenue estimate by 2.2% & beat guide by 2.2%.

Its 13.9% 3-yr revenue CAGR compares to 12.7% Q/Q & 13.6% 2 Qs ago.

Beat EBIT estimate by 6.9% & crushed FCF estimate.

Beat GAAP EPS estimate by $0.17 & beat guide by $0.20.

Beat EPS estimate by $0.18 & beat guide by $0.19.

 

Full Year Guidance:

Raised billings & revenue guide by 0.4% each.

Reiterated margin guidance & GAAP EPS guide while slightly raising EPS & FCF guide. Estimates & guidance were nearly identical.

Balance Sheet:

$2 billion in cash & equivalents.

Share count fell slightly Y/Y.

No debt.

 

Billings:

Autodesk is actively transitioning from up-front multi-year contracts to annual billings. This is why billings growth is negative while all other demand metrics show strong expansion. The impact will be largest in FY 2024 and smaller next year and will hit both billings and FCF generation throughout that period.

 

Macro:

Autodesk is still seeing the impact of a chaotic macro backdrop, but its own strong execution allowed it to overcome this challenge. Furthermore, “early customer expansions and strong renewal rates” as well as recovering engagement and “cautious channel partner optimism “ led it to raising the low end of its guidance. Its seamless ability to connect disparate workflows and consolidate vendors is a popular selling point in 2023 just like for the rest of the software ecosystem.

The firm’s revenue retention rate remains between 100% and 110%. I’d love to see them offer some more precision here.

An inspiring aside:

Autodesk’s CEO talked through a case study on its technology being used by Coral Maker to restore coral reefs. With current processes, about 1 hectare (about 2.5 acres) can be restored per year. Using Autodesk’s AI and automation capabilities, it’s 100Xing that metric. Coral reefs are at the heart of our world’s biodiversity and natural tropical storm protection. This matters a lot and is a real, tangible example of how incredible of an uplifter great software can be.