{
  "docId": "019dd923-622b-71dc-a6da-573fccb2b451",
  "docSlug": "c35bfd8d19c8",
  "documentTitle": "Autodesk, Inc. (ADSK)",
  "authorId": "03_Starboard_Value",
  "authorName": "Starboard Value",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2024-08-06 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 49,
  "pageCount": 88,
  "prevPage": 48,
  "nextPage": 50,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "balanced",
  "nDataPoints": 7,
  "notes": "Uses a simple arithmetic bridge to highlight the gap between current consensus forecasts and the activist's proposed target.",
  "elementsJson": [
    "headline_text",
    "data_table",
    "callout_box",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6da-573fccb2b451/49",
  "deckHref": "/decks/019dd923-622b-71dc-a6da-573fccb2b451",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6da-573fccb2b451.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6da-573fccb2b451#slide-49",
  "components": [
    {
      "bbox": {
        "h": 0.1,
        "w": 0.9,
        "x": 0.05,
        "y": 0.78
      },
      "kind": "callout",
      "text": "36% incremental margins are not acceptable and not fully explained by the agency transition. We believe Autodesk should target 55% incremental margins.",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7095c2a0-8334-4ada-bf85-e1d7939d83df",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "incremental margin: 36%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-2b63-72e1-b606-30ee7a2bed2f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.9,
        "x": 0.05,
        "y": 0.92
      },
      "kind": "source-note",
      "text": "Source: Public company filings and Capital IQ. Market data as of July 29, 2024.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "47ae60af-3669-42a6-992c-1f2fb498fa78",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.5,
        "w": 0.9,
        "x": 0.05,
        "y": 0.25
      },
      "kind": "table",
      "text": "Revenue, Operating Profit, Operating Margin for FY2024 and FY2027E",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "186fad64-2395-4d8d-b9f6-691dceff0076",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.8,
        "x": 0.05,
        "y": 0.03
      },
      "kind": "title",
      "text": "Looking Forward, Incremental Margins Are Expected to Further Deteriorate",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "56f3944a-2b22-4caa-8235-3427cd43710d",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "expose_contradiction",
      "slug": null,
      "matchId": "44cdb31f-a852-4c23-844c-ea18cf112c76",
      "evidence": "Contrasts consensus forecast (36%) with activist target (55%) to argue for operational improvement.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}