ADSK vs OCTV: Which Is the Better Buy in 2026?

Same yardstick, side by side (as of August 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.

Reading it: OCTV is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.

The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. ADSK and OCTV share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.

This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined ADSK and OCTV exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.

Autodesk is a large-cap software company whose tools are the default in several design and engineering fields. Its best-known products are AutoCAD (2D and 3D drafting), Revit (building information modeling for architecture, engineering and construction), Fusion (cloud product design and manufacturing), and Maya and 3ds Max (media and entertainment). It serves roughly four end markets: architecture, engineering and construction (AEC), product design and manufacturing, media and entertainment, and a broad base of individual and small-business users.

Full ADSK guide

Octave Intelligence sells software that follows a physical asset through its whole life. The company organises its products into four workflow environments: Design (3D modelling, engineering analysis, simulation and geospatial work), Build (engineering, procurement, fabrication, construction and commissioning), Operate (operational data, maintenance, quality systems and operational-technology cyber security) and Protect (public safety, emergency management, physical security and regulatory compliance). Customers are refineries, chemical plants, utilities, shipyards, mines, transport authorities and police and fire agencies, the kind of buyer that keeps a system for a decade. The business was assembled inside Hexagon AB from the Asset Lifecycle Intelligence and Safety, Infrastructure & Geospatial divisions plus ETQ and Bricsys, and Hexagon distributed it to shareholders on May 22, 2026. Headquarters sit in Huntsville, Alabama, although the legal entity is an Irish public limited company.

Full OCTV guide

Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.

• ADSK drivers: Recurring revenue and high retention; Margins and free cash flow.
• OCTV drivers: The subscription conversion; Independence from Hexagon.

A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: The most-cited risk is valuation: as a high-quality, profitable software name, Autodesk often trades at a premium multiple, so growth that merely meets expectations can still disappoint the stock. For OCTV, the June quarter carried $2,134.7 million of non-cash impairments, made up of $1,671.0 million against goodwill and $463.7 million against trademarks, and the goodwill charge was triggered by the market capitalisation trading below the carrying value once regular-way trading began, which is a blunt statement that the market disagreed with Hexagon's carrying basis.

Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick ADSK if you believe its drivers more; OCTV if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the ADSK and OCTV guides.

ADSK. Figures are approximate, tied to the asOf date, and use Autodesk's fiscal calendar (its year ends in late January), so verify live numbers before acting. Autodesk's transition to subscriptions and past changes to its billing model can distort year-over-year comparisons, so free cash flow and remaining performance obligations are often more useful than a single quarter's headline revenue. As a profitable compounder, its multiple prices in continued growth, which raises the bar for the stock even when the business executes well.

OCTV. Full-year 2026 guidance calls for revenue of $1,635 million to $1,665 million, ARR of $1,185 million to $1,205 million, adjusted operating margin near 30% and a free-cash-flow margin near 20%. The GAAP loss is almost entirely the June-quarter writedowns, so the trailing price-to-earnings ratio is meaningless right now and most comparisons run on sales, EV/EBITDA or adjusted earnings. Roughly 3x sales for a 30% adjusted-margin software business with flat reported revenue puts Octave well below the multiples carried by faster-growing engineering-software peers.

Headline figures (approximate, Jul 2026): ADSK shows revenue (fiscal 2026) About $7.2 billion, up roughly 18% year over year, almost all subscription, recurring revenue mix Around 97% of revenue is recurring subscription and maintenance, profitability Solidly profitable; record operating income near $1.6 billion in fiscal 2026, free cash flow Strong, roughly $2.4 billion in fiscal 2026, up sharply as billing patterns normalized; OCTV shows revenue (ttm through q2 2026) ~$1.63B, latest quarter (q2 2026, ended june 30) ~$398M revenue, down ~4% year over year, annualized recurring revenue ~$1,143M, up ~7% year over year, q2 2026 earnings per share ~-$7.34 GAAP (after ~$2.13B of non-cash impairments), ~$0.36 adjusted.

ADSK and OCTV are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined ADSK and OCTV exposure against your real portfolio. It is not an investment adviser.