ADSK vs PTC: Which Is the Better Buy in 2026?
Last updated October 2026
Short answer
ADSK is the larger of the two ($50.14B market cap): the incumbent the market prices for continued execution (16.90x forward earnings, beta 1.33). PTC is the smaller challenger ($20.96B), actually pricier on forward earnings (21.64x): more room to run, but more to prove. The real question is which set of drivers you believe, and whether owning one (or both) leaves you over-concentrated.
ADSK vs PTC: the tie-breaker metrics
Same yardstick, side by side (as of October 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.
| Metric | ADSK | PTC | What it tells you |
|---|---|---|---|
| Market cap | $50.14B | $20.96B | Size. The larger name is the incumbent; the smaller has more room to grow and more to prove. |
| Forward P/E | 16.90 | 21.64 | Valuation on next year's expected earnings, the same yardstick for both. Lower is cheaper for that growth; higher means the market is paying up. |
| Trailing P/E | 31.12 | 18.72 | Valuation on the last 12 months. A big drop from trailing to forward means the market expects earnings to jump, so more growth is already in the price. |
| Beta | 1.33 | 1.00 | Volatility vs the market. Above 1 swings harder than the index; below 1 is steadier. Higher beta means bigger drawdowns to hold through. |
| Price vs 52-week range | 40% of range | 86% of range | Where today's price sits between the 52-week low and high. Near the high is momentum with less margin of safety; near the low is out of favor or a discount, depending on why. |
| Price / book | 14.82 | 6.16 | How much you pay over book value. Very high can signal an asset-light, high-return business or a rich price. |
Reading it: ADSK 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.
Before you buy: how ADSK and PTC affect your concentration
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 PTC 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 PTC 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.
What does Autodesk (ADSK) do?
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.
What does PTC (PTC) do?
PTC Inc. is a Boston-based industrial-software company that builds the digital tools manufacturers use to design, engineer, and manage physical products. Its core franchises are Creo (parametric CAD for mechanical design), Windchill (enterprise PLM that manages product data across design, manufacturing, and service), and Onshape (browser-based cloud CAD acquired in 2019). Around those sit Arena (cloud PLM and quality management), Codebeamer (application lifecycle management for software-defined products), ThingWorx (industrial IoT), and ServiceMax (service lifecycle management). Nearly all of PTC's revenue is now subscription-based and recurring, which is why management steers the business by annual recurring revenue (ARR) rather than headline sales, and why the company earns software-like margins. It serves more than 30,000 customers.
ADSK vs PTC: how do they differ?
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.
- PTC drivers: The Schneider Electric deal and its timeline; Recurring-revenue ARR compounding (what Schneider is buying).
Which fits which kind of investor
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 sentiment: software multiples compressed in 2026 amid debate over whether AI-native tools erode incumbents, and Autodesk fell about 16% year to date even while beating estimates, which shows the stock can move independently of results. For PTC, the central risk is now deal risk: the merger needs approval from a majority of outstanding PTC shares and required regulatory approvals, and closing is not anticipated until Q3 2027, so a long review, a regulatory challenge, or a failure to close could send the shares back toward standalone value.
ADSK or PTC: which should you pick?
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; PTC 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 PTC guides.
ADSK vs PTC: the full fundamentals
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. At $240.26 the stock trades near 17x forward earnings and about 16x trailing free cash flow, well below the premium multiples it carried in past years, after a 16% decline in 2026. Analysts expect fiscal 2027 EPS of about $12.61 and revenue of about $8.3 billion; the next report, expected in late November, will show whether mid-teens growth holds.
PTC. Figures are approximate and tied to the asOf date; verify live numbers before acting. With a signed cash offer, earnings multiples no longer set PTC's price: the stock trades as a merger-arbitrage situation, where the roughly $12 gap between the $193 share price and the $205 offer is compensation for waiting until an anticipated Q3 2027 close and for the risk that the deal fails. Schneider is paying about 21x 2027 estimated adjusted EBITA before synergies.
Headline figures (approximate, October 2026): ADSK shows revenue (ttm) About $7.8 billion; fiscal 2026 was about $7.2 billion, up roughly 18%, latest quarter revenue (q2 fiscal 2027) About $2.05 billion, up roughly 16% year over year, net income (ttm) About $1.6 billion (GAAP EPS about $7.71), margins Gross about 92%, operating about 29%; PTC shows deal price $205 per share in cash from Schneider Electric (~$22.6 billion equity, ~$23.7 billion EV), share price and spread ~$193.01 (Oct 16, 2026), ~6% below the offer, expected close By Q3 2027, subject to PTC shareholder and regulatory approvals, revenue (ttm) ~$2.95 billion (fiscal Q3 2026 ~$600 million).
The bottom line: ADSK vs PTC
ADSK and PTC 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 PTC exposure against your real portfolio. It is not an investment adviser.
Wondering how ADSK or PTC fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in Autodesk with AI
Connect the broker you already use and ask Walnut's AI how ADSK fits what you actually hold: whether you own it already through a fund, what it would do to your concentration, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What is the difference between ADSK and PTC?
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Autodesk is a large-cap software company whose tools are the default in several design and engineering fields. PTC Inc. They show up together because they share investment themes, but they are different businesses, so the better fit depends on which thesis you are expressing.
Is ADSK or PTC the better stock?
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Neither is universally better. ADSK is the larger incumbent; PTC is the smaller challenger and looks pricier on forward earnings. Walnut is informational, not investment advice. Compare what each does, the tie-breaker metrics above, and the risks, then decide which fits your thesis and what you already own.
Which is cheaper, ADSK or PTC?
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On forward P/E (as of October 2026), ADSK trades at 16.90x and PTC at 21.64x, so ADSK is the cheaper of the two on next year's expected earnings. A lower multiple is not automatically the better buy: a richer valuation can be justified by faster growth, and a lower one can reflect real risk. Weigh the multiple against how fast each business is compounding.
Should you own both ADSK and PTC?
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Because they share themes, owning both concentrates you in that theme. That can be intentional (a focused bet) or accidental (less diversification than it looks). Walnut can show your combined exposure across both, and whether adding either over-concentrates you, before you buy.
What are the risks of ADSK vs PTC?
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ADSK: The most-cited risk is valuation sentiment: software multiples compressed in 2026 amid debate over whether AI-native tools erode incumbents, and Autodesk fell about 16% year to date even while beating estimates, which shows the stock can move independently of results. Its AEC and manufacturing revenue is tied to construction and industrial activity, which is cyclical and sensitive to interest rates, so a slowdown could pressure new seats and expansion. Competition is broad and capable, including Dassault Systemes and Siemens in manufacturing, Bentley and Nemetschek in AEC, Procore in construction, and free or low-cost tools like Blender in media, all pressing on different segments. Foreign-exchange swings matter because a large share of revenue is international. Debt of about $3.7 billion is covered by roughly $4.2 billion of cash. Finally, past changes to billing and go-to-market (including a shift in how it transacts with customers and channel partners) have periodically muddied reported metrics, so investors have to look through transition noise to judge underlying growth. PTC: The central risk is now deal risk: the merger needs approval from a majority of outstanding PTC shares and required regulatory approvals, and closing is not anticipated until Q3 2027, so a long review, a regulatory challenge, or a failure to close could send the shares back toward standalone value. PTC traded near $144 before the announcement (implied by the 42.3% premium), and the 52-week low was about $108.50, which gives a rough sense of the downside if the deal broke. The merger agreement also includes circumstances in which PTC would owe Schneider a termination fee. Upside is largely capped at $205 unless a competing bid emerges, which none has. Schneider is funding the purchase mostly with new debt, though financing is backed by a committed bridge facility. Underlying business risks remain in the background: demand tied to manufacturing and engineering budgets, intense competition from Dassault Systemes, Siemens, Autodesk and SAP, currency effects on ARR, and divestiture noise in reported comparisons.
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Walnut is informational, not investment advice. This page is descriptive and not a recommendation to buy or sell ADSK or PTC; figures are approximate and dated (as of October 2026). Verify current data before investing.