FIG vs. ADSK: Which Company Holds a Competitive Advantage in the Design SaaS Sector?

Comparing Figma and Autodesk: Leaders in Design SaaS and AI Innovation

Figma (FIG) and Autodesk (ADSK) stand out as major forces in the design software-as-a-service sector, each targeting unique customer bases and rapidly evolving through artificial intelligence. Figma specializes in collaborative digital product design, while Autodesk is renowned for its engineering and industrial design solutions.

Both companies are embracing AI to drive value. Figma is focused on boosting creative output and expanding its user base with AI, whereas Autodesk is leveraging AI to enhance engineering efficiency and minimize risks.

This analysis explores the growth opportunities and strategies of both companies, providing insights for investors seeking to make informed decisions.

Figma: Harnessing AI for Creative Empowerment

Figma has integrated AI throughout its suite of products, introducing features such as AI agents within Figma Canvas powered by its MCP server. These agents allow users to modify Figma files based on established design systems. Additionally, tools like Claude Code and Codex automate the creation and updating of designs.

The platform has also benefited from incorporating Gemini 3 Pro and Nano Banana Pro into its workflow. A partnership with OpenAI enables users to prompt ChatGPT for visual asset creation, which can then be refined in Figma Buzz. This collaboration also allows for the direct generation of FigJam diagrams from ChatGPT conversations.

Figma’s acquisition of Weavy has further strengthened its offering, allowing users to access top AI models and editing tools on a unified platform. Users can select from models such as Seedance, Sora, Veo, Nano-Banana, and Seedream to suit their specific needs, making Figma a formidable competitor in the image editing arena.

Figma Make, an AI-powered creative tool, has seen a 70% quarter-over-quarter increase in weekly active users. Over half of its customers generate more than $100,000 in annual recurring revenue, and about 60% of files are created by individuals without a design background. By the end of 2025, Figma’s paying customer base included 13,861 clients with over $10,000 ARR and 1,405 clients exceeding $100,000 ARR.

Despite these advancements, Figma’s non-GAAP operating profit dropped 22% year-over-year to $44 million in the fourth quarter of 2025, with its operating margin falling by 1,200 basis points to 14%. This margin compression is largely due to increased costs from launching Figma Make and other AI features. Analyst consensus for FIG’s 2026 earnings predicts a 23% decline, with estimates trending downward over the past month.

Source: Zacks Investment Research

Autodesk: Leveraging Decades of Data for AI-Driven Growth

Autodesk is uniquely positioned to capitalize on its extensive repository of proprietary data from design, engineering, architecture, and construction to train advanced AI models. The integration of generative design, predictive analytics, and automated workflows is revolutionizing productivity for professionals, supporting Autodesk’s premium pricing strategy.

Management reports increasing adoption of AI-powered features across platforms like AutoCAD, Revit, and Fusion. For example, the AI-based Sketch AutoConstrain tool in Fusion has generated over 3.8 million constraints since launch, with a two-thirds acceptance rate and nearly 90% of sketches fully constrained.

These advancements position Autodesk to benefit from new revenue streams, including AI monetization, consumption-based pricing for machine execution, APIs, MCPs, and subscriptions. The company’s deep industry expertise enables it to combine project data, constraints, and workflows with AI for enhanced solutions.

Autodesk is experiencing robust growth in infrastructure, emerging markets, and industrial construction. AI-driven data center projects are expected to fuel multi-year expansion. Analyst projections for ADSK’s fiscal 2027 earnings indicate an 18.7% year-over-year increase, with estimates recently revised upward.

Source: Zacks Investment Research

Stock Performance and Valuation: FIG vs. ADSK

Over the last six months, FIG shares have declined by 58.7%, while ADSK shares have dropped by 25.9%.

Six-Month Price Performance

Source: Zacks Investment Research

In terms of valuation, FIG is currently trading at a forward 12-month price-to-sales ratio of 6.73, below its median of 11.92. ADSK’s forward P/S ratio stands at 6.12, also lower than its median of 8.04.

Forward 12-Month P/S Valuation

Source: Zacks Investment Research

Final Thoughts: Which Stock Stands Out?

Figma is facing margin pressures as it invests in future growth, while Autodesk currently boasts a stronger earnings outlook. Both companies are enhancing their offerings with AI, but Autodesk’s wealth of proprietary data gives it a competitive edge in delivering unique solutions. Based on these factors, Autodesk appears to be the more attractive option at this time.

Currently, Autodesk holds a Zacks Rank #2 (Buy), whereas Figma is rated Zacks Rank #3 (Hold).

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