ADSK (Update)

Autodesk Inc

TMT


Presented:05/17/2018
Price:$136.52
Cap:$29.91B
Current Price:$286.48
Cap:$61.59B

Presented

Date05/17/2018
Price$136.52
Market Cap$29.91B
Ent Value$25.60B
P/E RatioN/A
Book ValueN/A
Div Yield0%
Shares O/S219.10M
Ave Daily Vol2,290,728
Short Int2.58%

Current

Price$286.48
Market Cap$61.59B
Autodesk, Inc. engages in the designing and developing multimedia software products. It includes Autodesk 360 cloud services, AutoCAD civil 3D and LT, 3Ds Max, Maya, and Revit. The company was founded by John Walker in April 1982 and is headquartered in San Rafael, CA.

Please note, this is an update to Autodesk Inc (ADSK) - Long, presented on 11/10/2017.

Publicly traded companies mentioned herein: Autodesk Inc (ADSK), PTC Inc (PTC)

Highlights

The presenter remains long shares of Autodesk (ADSK), gaining confidence in ADSK’s ability to benefit from its transition to a subscription business and realizing higher ARPS (average revenue per subscription) while also growing subscriber numbers. He models $11 - $12 of FCF per share in fiscal 2023 (calendar 2022), assuming subscribers grow from 3.7m today (fiscal 2018) to 7.1m in the exit year, with an 8% ARPS CAGR over 5 years. A 25x FCF multiple yields a $300 price target on fiscal 2023 numbers.

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Idea Discussion

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