D

Autodesk, Inc. — Earnings Quality Grade D

ADSK · Technology

Significant concerns

i
行业适配说明:人工复核:请参阅报告了解发布评级与算法输出差异的原因。 算法评级 D → 调整后评级 C
Revenue
$7.2B
2026
Net Income
$1.1B
2026
Gross Margin
91.0%
Free Cash Flow
$2.4B
01

Screening Summary

12
Passed
3
Watch
2
Failed
-2.68
M-Score
02

Financial Trends

Revenue & Net Income ($B)

Margins (%)

03

18-Point Screening

01

Revenue Quality

!
A1DSO Change

DSO increased by 13 days

A2AR vs Revenue Growth

AR outpaced revenue for 2 consecutive years

A3Revenue vs CFFO

Revenue 17.5%, CFFO 52.6%. Cash follows revenue

02

Expense Quality

B1Inventory vs COGS

No material inventory

B2CapEx vs Revenue

CapEx growth -25.5% vs revenue 17.5%. Normal

B3SG&A Ratio

SG&A/Gross Profit = 46.8%. Normal

B4Gross Margin

Gross margin 91.0%, change +0.4pp. Stable

03

Cash Flow Quality

C1CFFO vs Net Income

CFFO/NI = 2.18. Profits backed by cash

C2Free Cash Flow

FCF $2.4B, FCF/NI = 2.11

C3Accruals Ratio

Accruals ratio = -10.7%. Low accruals

!
C4Cash vs Debt

Cash $2.6B covers 95% of debt $2.7B

04

Balance Sheet Health

D1Goodwill + Intangibles

Goodwill+Intangibles $4.8B = 156% of equity. Over 50%

D2Leverage

Debt/EBITDA = 1.4x. Healthy

!
D3Soft Asset Growth

Other assets grew 63.1% vs revenue 17.5%

D4Asset Impairment

No write-off data

05

Acquisition Risk

E1Serial Acquirer FCF

FCF after acquisitions positive

E2Goodwill Surge

Goodwill+Intangibles change -1% YoY. Normal

06

Manipulation Score

F1Beneish M-Score

M-Score = -2.68 (< -2.22). Unlikely manipulator

04

Beneish M-Score

Manipulation Probability-2.68
-4.0 Clean-2.22 Grey-1.78 Danger0
1.215
DSRI
AR growing faster than revenue?
0.996
GMI
Gross margin declining?
0.891
AQI
Asset quality deteriorating?
1.175
SGI
Revenue growth rate
0.937
DEPI
Depreciation slowing?
0.984
SGAI
SG&A ratio changing?
-0.1065
TATA
Accruals level
1.009
LVGI
Leverage increasing?
05

Altman Z-Score

0.48
Distress Zone
0 Distress1.102.605.0+ Safe
-0.0695
Liquidity
-0.1149
Cumulative profit
0.1439
Operating efficiency
0.3232
Leverage

Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-08

Autodesk, Inc. (ADSK) 财报排雷评级 D — EarningsGrade