Autodesk vs Toyota: Revenue, Profit and Business Model
Autodesk reported $7.2B of revenue in FY2026 and $1.1B of net income. Toyota reported ~$339.6B of revenue in FY2026 and ~$25.8B of net income.
Latest financial snapshot
Financial summary
Autodesk
Autodesk stopped selling new perpetual licenses for its core desktop products in 2016 and spent the following years converting customers to subscriptions. Reported revenue fell to $2.03 billion in fiscal 2017 with a $582 million net loss before the subscription base compounded. Fiscal 2026 shows the finished version of that model: $7.206 billion of revenue, up 18 percent, of which 94 percent was subscription and maintenance; gross profit of $6.56 billion, or 91 percent of revenue; a GAAP operating margin of 22 percent and a non-GAAP operating margin of 38 percent; net income of $1.124 billion; and free cash flow of $2.409 billion, up 54 percent, from $2.452 billion of cash from operations. Remaining performance obligations, the contracted revenue not yet recognized, were $8.30 billion at January 31, 2026, of which $5.48 billion is expected to convert within twelve months. Autodesk pays no dividend and returns cash through share repurchases.
Toyota
Toyota's fiscal 2026 showed record revenue alongside sharply lower profit. Sales revenues reached ~$340 billion (¥50.68 trillion) while operating margin narrowed to about 7.4% from 10.0% a year earlier, mostly because of roughly $9.25 billion (¥1.38 trillion) in U.S. tariff costs. North America swung to a much weaker profit, Japan remained the largest profit contributor, and financial services kept growing. For fiscal 2027, Toyota's August 2026 forecast calls for ~$362 billion (¥54.0 trillion) in revenue, ~$22.8 billion (¥3.4 trillion) in operating income and ~$21.8 billion (¥3.25 trillion) in net income, assuming 160 yen per dollar.
Revenue and profit by year
Autodesk
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | $7.2B | $1.1B | 15.6% | +17.5% | Source |
| FY2025 | $6.1B | $1.1B | 18.1% | +11.5% | Source |
| FY2024 | $5.5B | $906M | 16.5% | +9.8% | Source |
| FY2023 | $5B | $823M | 16.4% | +14.1% | Source |
| FY2022 | $4.4B | $497M | 11.3% | +15.7% | Source |
| FY2021 | $3.8B | $1.2B | 31.9% | +15.7% | Source |
| FY2020 | $3.3B | $214.5M | 6.6% | +27.4% | Source |
| FY2019 | $2.6B | -$80.8M | -3.1% | +25.0% | Source |
| FY2018 | $2.1B | -$566.9M | -27.6% | +1.3% | Source |
| FY2017 | $2B | -$582.1M | -28.7% | — | Source |
Toyota
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | ~$339.6B | ~$25.8B | 7.6% | +5.5% | Source |
| FY2025 | ~$321.8B | ~$31.9B | 9.9% | +6.5% | Source |
| FY2024 | ~$302.1B | ~$33.1B | 11.0% | +21.4% | Source |
| FY2023 | ~$248.9B | ~$16.4B | 6.6% | +18.4% | Source |
| FY2022 | ~$210.2B | ~$19.1B | 9.1% | +15.3% | Source |
| FY2021 | ~$182.3B | ~$15B | 8.3% | -9.1% | Source |
| FY2020 | ~$200.5B | ~$13.9B | 6.9% | -1.0% | Source |
| FY2019 | ~$202.5B | ~$12.6B | 6.2% | +2.9% | Source |
| FY2018 | ~$196.8B | ~$16.7B | 8.5% | +6.5% | Source |
| FY2017 | ~$184.9B | ~$12.3B | 6.6% | -2.8% | Source |
| FY2016 | ~$190.3B | ~$15.5B | 8.1% | — | Source |
Where the revenue comes from
Autodesk
- Subscription and maintenance revenue~94%
US$6.776 billion in fiscal 2026, made up of US$6.743 billion of subscription revenue and US$33 million of legacy maintenance plans. By product family this is AECO US$3.583 billion, AutoCAD and AutoCAD LT US$1.787 billion, Manufacturing US$1.379 billion, Media and Entertainment US$332 million and other US$125 million, per the fiscal 2026 results.
- Other revenue (products and services)~6%
US$430 million in fiscal 2026, up 15 percent, from consulting, training and other products and services, recognized as they are delivered or performed.
Toyota
- Automotive~89%
Toyota, Lexus, Daihatsu and Hino vehicles, plus parts and service
- Financial services~9%
Retail loans, leases and dealer financing
- All other~2%
Housing-related, telecommunications and other businesses
Business model and strategy
Autodesk
How it makes money
Autodesk sells subscriptions to design software used by professionals: AutoCAD and AutoCAD LT for drafting, Revit and Civil 3D for buildings and infrastructure, Inventor and Fusion for manufacturing, Maya and 3ds Max for animation.
Growth strategy
With drafting seats a mature market, Autodesk's growth depends on construction and manufacturing workflow software rather than on selling more AutoCAD licenses. AECO revenue grew 22 percent in fiscal 2026 to $3.58 billion, the fastest of the four product families, led by construction products that handle cost, scheduling, bidding and field work rather than design.
Competitive advantage
Autodesk's advantage is that its file formats and its products are what the industry trains on. Architecture and engineering programs teach AutoCAD and Revit, project data is exchanged as DWG and RVT files, and a firm that switches has to retrain staff and accept conversion risk on decades of legacy drawings.
Toyota
How it makes money
Toyota makes most of its money building and selling vehicles under the Toyota and Lexus brands (plus Daihatsu and Hino), led by high-volume models such as the RAV4, Corolla, Camry and Hilux. A large financial services arm earns interest and lease income on loans and leases to Toyota buyers and dealers, and parts, service and other value-chain businesses add recurring revenue from the installed base of vehicles.
Growth strategy
Toyota's strategy centers on hybrid leadership, battery EV scaling, software improvement, localized manufacturing, Lexus and truck/SUV profitability, financial services, and disciplined capital allocation.
Competitive advantage
Toyota's advantage is manufacturing discipline, hybrid technology, global supplier relationships, brand trust, reliability, and scale. Those strengths are durable, but they must be paired with faster software and EV execution.
Questions about Autodesk vs Toyota
Which company has higher revenue — Autodesk, Inc. or Toyota Motor Corporation?
Autodesk, Inc. reported $7.2B (FY2026), while Toyota Motor Corporation reported ~$339.6B (FY2026). By last reported revenue, Toyota Motor Corporation is the larger business, with Autodesk, Inc. reporting a smaller revenue base.
What is the market cap of Autodesk, Inc. vs Toyota Motor Corporation?
Autodesk, Inc.'s market capitalisation stands at $43.7B, while Toyota Motor Corporation's is $258.0B. Toyota Motor Corporation carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to Autodesk, Inc..
Which is more financially efficient — Autodesk, Inc. or Toyota Motor Corporation?
Autodesk, Inc. generates $504k / employee in revenue per employee, while Toyota Motor Corporation generates $905k / employee. Toyota Motor Corporation shows higher revenue efficiency per headcount, though this reflects business model differences — capital-light software companies routinely outperform labour-intensive manufacturers on this metric.
How do Autodesk, Inc. and Toyota Motor Corporation make money?
Autodesk, Inc. and Toyota Motor Corporation generate revenue in fundamentally different ways. Autodesk, Inc.: Autodesk sells subscriptions to design software used by professionals: AutoCAD and AutoCAD LT for drafting, Revit and Civil 3D for buildings and infrastructure, Inventor and Fusion for manufacturing, Maya and 3ds Max for animation. Toyota Motor Corporation: Toyota makes most of its money building and selling vehicles under the Toyota and Lexus brands (plus Daihatsu and Hino), led by high-volume models such as the RAV4, Corolla, Camry and Hilux.
Which company is valued higher relative to revenue — Autodesk, Inc. or Toyota Motor Corporation?
On a price-to-sales (P/S) basis, Autodesk, Inc. trades at 6.1x P/S and Toyota Motor Corporation at 0.8x P/S. Autodesk, Inc. commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to Toyota Motor Corporation. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is Autodesk, Inc. bigger than Toyota Motor Corporation?
By last reported revenue, Toyota Motor Corporation (~$339.6B (FY2026)) is the larger company compared to Autodesk, Inc. ($7.2B (FY2026)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Autodesk vs Toyota overview