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  "documentTitle": "Autodesk, Inc. (ADSK)",
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  "notes": "The slide uses a 'bridge' style calculation to show how revenue growth and profit growth result in a 71% incremental margin.",
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      "text": "Autodesk produced meaningful margin improvement from FY2018 – FY2021, with adjusted operating margins expanding from (5%) in FY2018 to nearly 30% in FY2021",
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      "text": "incremental operating margin: 71%",
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      "text": "Source: Public company filings.",
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      "text": "FY2018 Revenue: $2.06 billion, Operating Profit: ($112 million), Operating Margin: (5%). FY2021 Revenue: $3.79 billion, Operating Profit: $1.11 billion, Operating Margin: 29%. Change Revenue: +$1.73 billion, Operating Profit: +$1.22 billion, Incremental Margin: 71%",
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