Is Autodesk Still The Best Way To Own Faster Software Growth?

Autodesk (ADSK) stock lost 24.9% over the past year, while shares of Fair Isaac (FICO) fell 56.4%. Underneath those market declines, however, business at both software companies is accelerating. Each firm has posted faster sales growth in each of the past two years, and buyers of either stock are likely betting on that continued momentum. The similarities end there. The two companies operate with completely different financial structures. Fair Isaac retains far more of its sales as profit, yet Autodesk carries substantially less debt. So which of the two does the evidence favor?

In August, Autodesk Gave A Mixed Outlook

On August 27, Autodesk adjusted its expectations for the fiscal year ending in January 2027. The company raised its revenue forecast to a midpoint of $8.32 billion, up from $8.19 billion, and also increased its billings forecast. At the same time, it lowered its reported operating margin forecast down to 26.0% at the midpoint, from 27.0%.

Fair Isaac delivered a uniformly positive update on July 29, 2026. The company raised every forecast it gave for revenue, net income and earnings per share. For the fiscal year that ended in September 2026, management guided for $2.53 billion in revenue. Final results for that period are still to come.

Those optimistic projections arrived two months before a major industry announcement.

Autodesk Keeps Less Of Each Dollar, Holds More Cash

Looking at profitability, the two businesses operate in different tiers. Autodesk turned 27.9% of its sales into operating profit over the twelve months to July 2026. By contrast, Fair Isaac converted 52.1% of its sales into operating profit over the twelve months to June 2026.

When evaluating the balance sheet, Autodesk holds a commanding advantage. As of July 31, 2026, the company held $4.16 billion in cash and short-term investments, which easily exceeded its $3.71 billion of debt. Fair Isaac sits in a much tighter position. At June 30, 2026, the company owed $5.6 billion in debt against just $248 million of cash and short-term investments.

Autodesk Trails On P/E And Revenue Pace

Fair Isaac trades at a notable discount relative to its bottom line. The stock trades at 20.0 times its earnings over the past twelve months. Investors are paying a higher premium for Autodesk, which trades at 29.6 times trailing earnings.

The top line also favors Fair Isaac. The company expanded sales by 24.1% over the twelve months to June 2026, easily outpacing the 17.9% growth Autodesk recorded over the twelve months to July 2026. Expanding the timeline reveals a similar pattern. Over its last three twelve-month periods, Fair Isaac averaged 17.7% growth, compared to 14.4% for Autodesk.

Autodesk reclaims the advantage regarding debt. The company carries debt equal to 7.6% of its market value. That sits well below the 34.4% ratio for Fair Isaac.

Based on its earnings multiple, growth, margin and forecasts, Fair Isaac comes out ahead, while Autodesk owes far less. The key variable remains timing. Fair Isaac issued its results and forecasts entirely before the agency’s September move. The company expects to release its first report since that development on or around November 11, 2026. You should watch what Fair Isaac says about revenue in that report.

How To Act On ADSK?

Now you know ADSK better. And that’s our purpose: to make you informed before you invest your money. However, making a bet on a single stock carries its own risks.

There is a smarter choice. Since its inception, the Trefis High Quality (HQ) Portfolio has beaten the benchmark that combines the three major indices – the S&P 500, S&P Mid-cap, and Russell 2000. And it did so without taking the concentrated risk that comes with do-it-yourself stock picking.

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