{"id":6212,"date":"2022-07-06T23:56:00","date_gmt":"2022-07-06T15:56:00","guid":{"rendered":"https:\/\/www.granitefirm.com\/blog\/us\/?p=6212"},"modified":"2025-10-05T10:10:34","modified_gmt":"2025-10-05T02:10:34","slug":"how-autodesk-make-money","status":"publish","type":"post","link":"https:\/\/www.granitefirm.com\/blog\/us\/2022\/07\/06\/how-autodesk-make-money\/","title":{"rendered":"How does Autodesk make money? Why is the stock price so amazing?"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/07\/06\/how-autodesk-make-money\/#Introduction\" >Introduction<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/07\/06\/how-autodesk-make-money\/#Company_Profile\" >Company Profile<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/07\/06\/how-autodesk-make-money\/#The_importance_of_Autodesk\" >The importance of Autodesk<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/07\/06\/how-autodesk-make-money\/#Products_and_operation\" >Products and operation<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/07\/06\/how-autodesk-make-money\/#What_products_does_it_have\" >What products does it have?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/07\/06\/how-autodesk-make-money\/#Diversify_among_regions\" >Diversify among regions<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/07\/06\/how-autodesk-make-money\/#Business_performance_and_market_valuation\" >Business performance and market valuation<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/07\/06\/how-autodesk-make-money\/#How_is_the_business_performing\" >How is the business performing?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/07\/06\/how-autodesk-make-money\/#Stock_valuation\" >Stock valuation<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/07\/06\/how-autodesk-make-money\/#Long_term_capital_return\" >Long term capital return<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/07\/06\/how-autodesk-make-money\/#Stock_split\" >Stock split<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/07\/06\/how-autodesk-make-money\/#Why_is_the_stock_price_so_amazing\" >Why is the stock price so amazing?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/07\/06\/how-autodesk-make-money\/#How_much_has_the_share_price_gone_up\" >How much has the share price gone up?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/07\/06\/how-autodesk-make-money\/#Related_article\" >Related article<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Introduction\"><\/span>Introduction<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\"><span class=\"ez-toc-section\" id=\"Company_Profile\"><\/span><strong>Company Profile<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>I used Autodesk (ticker: ADSK) and Adobe (ticker: ADBE) as examples when explaining corporate moats in subsections 2-3 of the book &#8220;The Rules of Super Growth Stocks Investing&#8221;. About Adobe, you can refer to my two blog articles: &#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/03\/17\/adobe-without-competitor\/\" target=\"_blank\" rel=\"noreferrer noopener\">Adobe, a company with no strong competitors in its main business for a long time<\/a>&#8221; and &#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/11\/15\/how-adobe-makes-money\/\" target=\"_blank\" rel=\"noreferrer noopener\">How Adobe makes money? irreplaceable undocumented standard<\/a>&#8220;.<\/p>\n\n\n\n<p>Most people may not have heard of this company, but if you have an engineering background, it is impossible not to have heard of the name of this company. You should have used at least a few software from this company in your career, but You didn&#8217;t know they were Autodesk products. The special effects of the famous movie &#8220;<a href=\"https:\/\/en.wikipedia.org\/wiki\/Avatar_(2009_film)\" target=\"_blank\" rel=\"noreferrer noopener\">Avatar<\/a>&#8221; were made with Autodesk products. When the film was launched, the special effects of the movie swept the major awards, and most people might not know about it.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\"><span class=\"ez-toc-section\" id=\"The_importance_of_Autodesk\"><\/span><strong>The importance of Autodesk<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Autodesk has developed a series of must-have software in the engineering world, which is synonymous with engineering drawing, 3D, and simulation. Its status is like the irreplaceable status of Adobe Creative Cloud family products among multimedia practitioners for more than 40 years. <\/p>\n\n\n\n<p>Engineering (whether electrical and electronic, civil, architectural, computer graphics, animation) is a very closed and highly specialized field of engineers, the daily working software that has won over decades of engineers&#8217; critical, precise, professional, and meticulous tests (please note that this is different from Adobe digital media users focus more on creativity, space, and imagination. The user group of the two sides are very different), it is impossible to change it at all, and the important thing is that there is no alternative to replace Autodesk&#8217;s products.<\/p>\n\n\n\n<p>Autodesk has another disadvantage. Its products are too professional, unlike Adobe&#8217;s main focus on multimedia. Almost everyone has heard of it, and many people have used it. But there are very few people who have used Autodesk products (although its products are very expensive), which is the fundamental reason why its market capital cannot surpass Adobe (table below).<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Products_and_operation\"><\/span>P<strong>roducts <\/strong>and operation<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\"><span class=\"ez-toc-section\" id=\"What_products_does_it_have\"><\/span><strong>What products does it have?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>In order to write this article, I looked it up, and it has more than 100 famous products; this does not include discontinue products, plug-ins, or derived software that are rarely used. AutoCAD, 3ds Max, Alias, Inventor, Maya, Navisworks, Revit are some of the best known products. The following are its main product lines:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>Product line<\/td><td>Flagship products<\/td><\/tr><tr><td>Architecture, engineering and construction<\/td><td>AutoCAD\u3001Revit\u3001Autodesk Construction Cloud (ACC)<\/td><\/tr><tr><td>Genetic engineering<\/td><td>Autodesk Life Sciences<\/td><\/tr><tr><td>A cloud-based design platform for mechanical, electrical, and manufacturing engineers<\/td><td>Fusion 360<\/td><\/tr><tr><td>Media and entertainment<\/td><td>Flame\u3001Media &amp; Entertainment Collection<\/td><\/tr><tr><td>Renderers<\/td><td>Autodesk Raytracer; Mainly bundled with the products of many well-known manufacturers, such as NVIDIA (ticker: NVDA) Mental Ray and Iray use its products internally<\/td><\/tr><tr><td>Cloud rendering services<\/td><td>Autodesk Rendering\u30013ds Max Cloud Rendering <\/td><\/tr><tr><td>Visualization tools<\/td><td>3ds Max\u3001ImageStudio<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Diversify_among_regions\"><\/span>Diversify among regions<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>From Autodesk&#8217;s latest annual report, as you can see from below table, it&#8217;s revenue are evenly spread across the 3 geos. This proves Autodesk&#8217;s products are popular and give investors resilience during market volatility caused by geopolitics.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><th scope=\"col\">Region<\/th><th scope=\"col\">Percent of Total Revenue<\/th><\/tr><tr><td>Americas<\/td><td>41.4%<\/td><\/tr><tr><td>EMEA<\/td><td>38.4%<\/td><\/tr><tr><td>APAC<\/td><td>20.2%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Business_performance_and_market_valuation\"><\/span>B<strong>usiness performance and market valuation<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\"><span class=\"ez-toc-section\" id=\"How_is_the_business_performing\"><\/span><strong>How is the business performing?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>Year 2021<\/td><td>Autodesk number<\/td><td>Adobe number<\/td><\/tr><tr><td>Revenue<\/td><td>$4,386.4 million (+15.72%)<\/td><td>15,785 million (+22.67%)<\/td><\/tr><tr><td>Gross margin<\/td><td>91.68%<\/td><td>88.18%<\/td><\/tr><tr><td>Operating margin<\/td><td>16.93%<\/td><td>36.76%<\/td><\/tr><tr><td>Net margin<\/td><td>11.33%<\/td><td>30.55%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\"><span class=\"ez-toc-section\" id=\"Stock_valuation\"><\/span><strong>Stock valuation<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>Index<\/td><td>Autodesk number<\/td><td>Adobe number<\/td><\/tr><tr><td>Share price<\/td><td>195.84<\/td><td>395.95<\/td><\/tr><tr><td>Market capital<\/td><td>42.56 billion<\/td><td>187.09 billion<\/td><\/tr><tr><td>P\/E<\/td><td>87.48<\/td><td>39.33<\/td><\/tr><tr><td>P\/S<\/td><td>10.46<\/td><td>12.02<\/td><\/tr><tr><td>Dividend yield<\/td><td>0%<\/td><td>0%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Long_term_capital_return\"><\/span>Long term capital return<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\"><span class=\"ez-toc-section\" id=\"Stock_split\"><\/span><strong>Stock split<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Its stock has been split four times since its listing:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>Date<\/td><td>Split ratio<\/td><\/tr><tr><td>03\/30\/1987<\/td><td>3 for 1<\/td><\/tr><tr><td>10\/31\/1994<\/td><td>2 for 1<\/td><\/tr><tr><td>04\/19\/2002<\/td><td>2 for 1<\/td><\/tr><tr><td>12\/21\/2004<\/td><td>2 for 1<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\"><span class=\"ez-toc-section\" id=\"Why_is_the_stock_price_so_amazing\"><\/span><strong>Why is the stock price so amazing?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The answer to this question is easy to answer: because it&#8217;s a specific piece of software that &#8220;industry&#8221; must use. The software industry has edge on valuation, and it has existed for decades; the company was established in 1982 and went public in 1985, a year earlier than Microsoft (ticker: MSFT), with high switching costs. <\/p>\n\n\n\n<p>The most important thing is that it is the unwritten software of the industry, just like Adobe&#8217;s position in the multimedia industry, and Autodesk is used in more industries, mostly in high-value industries, so its products are expensive. In architecture, engineering drawing, 3D, and simulation, there are almost no substitutes, because many of its products are almost designed to meet the needs of industry customers and belong to a niche market (and Adobe multimedia products are widely used &#8211; note this big difference), no one wants to take the risk to enter this field. The power to raise prices without substitutes.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"270\" height=\"63\" src=\"https:\/\/www.granitefirm.com\/blog\/us\/wp-content\/uploads\/sites\/2\/2022\/07\/a-3.jpg\" alt=\"Autodesk\" class=\"wp-image-11854\" style=\"width:270px;height:63px\"\/><figcaption class=\"wp-element-caption\">Credit: Wikimedia<\/figcaption><\/figure>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\"><span class=\"ez-toc-section\" id=\"How_much_has_the_share_price_gone_up\"><\/span><strong>How much has the share price gone up?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>It has risen 245% in the past 5 years and 812% in the past 10 years; there are not too many US listed companies performed better than Autodesk by this two bunbers. Even in the long run; it has gained 3,187% over the past 28 years (see chart below), with an annualized return of 13.68%; the S&amp;P 500&#8217;s annualized return over the same period was 8.65%.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"506\" height=\"164\" src=\"https:\/\/www.granitefirm.com\/blog\/us\/wp-content\/uploads\/sites\/2\/2022\/04\/ADSK-3187-1600x1200-1.png\" alt=\"\" class=\"wp-image-6234\" srcset=\"https:\/\/www.granitefirm.com\/blog\/us\/wp-content\/uploads\/sites\/2\/2022\/04\/ADSK-3187-1600x1200-1.png 506w, https:\/\/www.granitefirm.com\/blog\/us\/wp-content\/uploads\/sites\/2\/2022\/04\/ADSK-3187-1600x1200-1-300x97.png 300w\" sizes=\"auto, (max-width: 506px) 85vw, 506px\" \/><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Related_article\"><\/span>Related article<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/10\/04\/ai-software-make-money\/\">Some AI software vendors are starting to make money<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/06\/14\/eda-synopsys-cadence-mentor\/\">Three EDA oligopoly vendors: Synopsys, Cadence, and Siemens&#8217;s Mentor Graphics<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2024\/01\/22\/how-cadence-make-money\/\" target=\"_blank\" rel=\"noreferrer noopener\">How does, the EDA oligopoly, Cadence make money?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/12\/22\/how-synopsis-make-money\/\" target=\"_blank\" rel=\"noreferrer noopener\">How does Synopsis, the EDA oligopoly, make money?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/07\/06\/how-autodesk-make-money\/\" target=\"_blank\" rel=\"noreferrer noopener\">How does Autodesk make money? Why is the stock price so amazing?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/11\/15\/how-adobe-makes-money\/\" target=\"_blank\" rel=\"noreferrer noopener\">How Adobe makes money? irreplaceable undocumented standard<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/03\/17\/adobe-without-competitor\/\" target=\"_blank\" rel=\"noreferrer noopener\">Adobe, a listed company with no strong competitors in its main business for a long time<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/09\/18\/adobe-buy-figma\/\" target=\"_blank\" rel=\"noreferrer noopener\">Why Adobe&#8217;s Figma Acquisition Caused Upheaval<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/05\/05\/vertical-software\/\">Vertical software is expensive, but worth the investment<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/06\/30\/software-pe-ratio\/\">Software PE ratio is about twice that of hardware. What is the basis?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/08\/22\/salesforce-crm-cloud\/\" target=\"_blank\" rel=\"noreferrer noopener\">How does Salesforce make money? Why is it so successful?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/12\/13\/veeva-systems\/\">Veeva, the king of industry systems in the lifescience industry<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/08\/29\/fair-isaac\/\" target=\"_blank\" rel=\"noreferrer noopener\">Fair Isaac, one of the most important listed companies in the US consumer finance industry<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/09\/13\/there-are-indeed-monopoly\/\">There are indeed monopoly in this world<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/06\/30\/software-pe-ratio\/\">Software PE ratio is about twice that of hardware. What is the basis?<\/a>&#8220;<\/li>\n<\/ul>\n\n\n\n<p><em><strong>Disclaimer<\/strong><\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><em>The content of this site is the author\u2019s personal opinions and is for reference only. I am not responsible for the correctness, opinions, and immediacy of the content and information of the article. Readers must make their own judgments.<\/em><\/li>\n\n\n\n<li><em>I shall not be liable for any damages or other legal liabilities for the direct or indirect losses caused by the readers&#8217; direct or indirect reliance on and reference to the information on this site, or all the responsibilities arising therefrom, as a result of any investment behavior.<\/em><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>How does Autodesk make money? Why is the stock price so amazing? I used Autodesk (ADSK) and Adobe (ADBE) as examples when explaining corporate moats in subsections 2-3 of the book &#8220;The Rules of Super Growth Stocks Investing&#8221;. About Adobe, you can refer to my two blog articles: <\/p>\n","protected":false},"author":1,"featured_media":11854,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[492,528,739,483,122,484],"tags":[328,602,3,169],"class_list":["post-6212","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-undocumented-standard","category-business-diversity","category-geopolitics","category-price-power","category-software","category-switch-cost","tag-adbe","tag-adsk","tag-msft","tag-nvda"],"_links":{"self":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts\/6212","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/comments?post=6212"}],"version-history":[{"count":33,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts\/6212\/revisions"}],"predecessor-version":[{"id":39228,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts\/6212\/revisions\/39228"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/media\/11854"}],"wp:attachment":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/media?parent=6212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/categories?post=6212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/tags?post=6212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}