CDNS · Cadence Design Systems Inc - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $5.30B | $4.64B | $4.09B | $3.56B | $2.99B | $2.68B |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - |
| SG&A | $313.39M | $282.28M | $242.43M | $242.12M | $189.02M | $154.43M |
| Total Operating Expenses | $3.80B | $3.29B | $2.84B | $2.49B | $2.21B | $2.04B |
| D&A | $227.83M | $196.94M | $145.29M | $132.09M | $142.31M | $145.65M |
| Operating Income | $1.49B | $1.35B | $1.25B | $1.07B | $779.09M | $645.55M |
| Interest Expense | $116.54M | $76.00M | $36.19M | $22.93M | $16.98M | $20.75M |
| Income Tax | $413.15M | $340.33M | $240.78M | $196.41M | $72.48M | $42.10M |
| Net Income | $1.11B | $1.06B | $1.04B | $848.95M | $695.96M | $590.64M |
| EPS - Basic | $4.09 | $3.89 | $3.86 | $3.13 | $2.54 | $2.16 |
| EPS - Diluted | $4.06 | $3.85 | $3.82 | $3.09 | $2.50 | $2.11 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $3.00B | $2.64B | $1.01B | $882.33M | $1.09B | $928.43M |
| Accounts Receivable | $944.94M | $680.46M | $489.22M | $486.71M | $337.60M | $338.49M |
| Inventory | $303.55M | $257.71M | $181.66M | $128.00M | $115.72M | $75.96M |
| Accounts Payable | - | - | - | - | - | - |
| Current Assets | $4.67B | $4.02B | $1.98B | $1.71B | $1.72B | $1.48B |
| Total Assets | $10.15B | $8.97B | $5.67B | $5.14B | $4.39B | $3.95B |
| Current Liabilities | $1.64B | $1.37B | $1.59B | $1.35B | $971.23M | $796.81M |
| Long-term Debt | - | - | - | - | - | - |
| Total Liabilities | - | - | - | - | - | - |
| Stockholders' Equity | $5.47B | $4.67B | $3.40B | $2.75B | $2.74B | $2.49B |
| Retained Earnings | $7.10B | $5.99B | $4.94B | $3.90B | $3.05B | $2.35B |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.73B | $1.26B | $1.35B | $1.24B | $1.10B | $904.92M |
| Investing Cash Flow | ($460.52M) | ($837.12M) | ($412.25M) | ($738.63M) | ($292.95M) | ($292.16M) |
| Financing Cash Flow | ($948.98M) | $1.24B | ($803.57M) | ($657.05M) | ($643.79M) | ($415.29M) |
| CapEx | $141.87M | $142.54M | $102.34M | $123.22M | $65.30M | $94.81M |
| Free Cash Flow | $1.59B | $1.12B | $1.25B | $1.12B | $1.04B | $810.11M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | 28.2% | 29.1% | 30.6% | 30.1% | 26.1% | 24.1% |
| EBITDA margin | 32.5% | 33.3% | 34.1% | 33.9% | 30.8% | 29.5% |
| Net margin | 20.9% | 22.7% | 25.5% | 23.8% | 23.3% | 22.0% |
| Free cash flow margin | 30.0% | 24.1% | 30.5% | 31.4% | 34.7% | 30.2% |
| FCF / Net income | 1.43 | 1.06 | 1.20 | 1.32 | 1.49 | 1.37 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 5.9% | 6.1% | 5.9% | 6.8% | 6.3% | 5.8% |
| Effective tax rate | 27.1% | 24.4% | 18.8% | 18.8% | 9.4% | 6.7% |
| Return on assets | 10.9% | 11.8% | 18.4% | 16.5% | 15.9% | 15.0% |
| Return on equity | 20.3% | 22.6% | 30.6% | 30.9% | 25.4% | 23.7% |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 2.86 | 2.93 | 1.24 | 1.27 | 1.77 | 1.86 |
| Quick ratio | 2.67 | 2.74 | 1.13 | 1.17 | 1.65 | 1.76 |
| Cash ratio | 1.84 | 1.93 | 0.63 | 0.65 | 1.12 | 1.17 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | 12.8x | 17.8x | 34.6x | 46.8x | 45.9x | 31.1x |
| Equity multiplier | 1.85 | 1.92 | 1.67 | 1.87 | 1.60 | 1.58 |
| Liabilities / Assets | - | - | - | - | - | - |
| Efficiency | ||||||
| Asset turnover | 0.52 | 0.52 | 0.72 | 0.69 | 0.68 | 0.68 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 65d | 54d | 44d | 50d | 41d | 46d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 77.0x | 78.0x | 71.3x | 52.0x | 74.5x | 64.7x |
| P / B | 15.6x | 17.6x | 21.8x | 16.1x | 19.0x | 15.3x |
| P / S | 16.1x | 17.7x | 18.2x | 12.4x | 17.4x | 14.2x |
| EV / EBITDA | 47.9x | 51.5x | 52.5x | 35.9x | 55.2x | 47.0x |
| Growth | ||||||
| Revenue growth (YoY) | 14.1% | 13.5% | 14.8% | 19.2% | 11.4% | 14.8% |
| Revenue CAGR (3y) | 14.1% | 15.8% | 15.1% | 15.1% | 18.1% | 11.4% |
| Revenue CAGR (5y) | 14.6% | 14.7% | 17.6% | 12.9% | 10.5% | 9.5% |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | 10.5% | 8.0% | 16.5% | 37.8% | 20.7% | 31.3% |
| Net income growth (YoY) | 5.1% | 1.4% | 22.6% | 22.0% | 17.8% | -40.3% |
| EPS growth (YoY) | 5.5% | 0.8% | 23.6% | 23.6% | 18.5% | -40.2% |
| EPS CAGR (3y) | 9.5% | 15.5% | 21.9% | -4.3% | 26.7% | 42.4% |
| EPS CAGR (5y) | 14.0% | 1.8% | 25.4% | 33.5% | 29.0% | 21.1% |
| FCF growth (YoY) | 41.9% | -10.3% | 11.5% | 8.0% | 27.8% | 23.7% |
| FCF CAGR (5y) | 14.4% | 11.3% | 18.1% | 22.1% | 21.5% | 19.4% |
| Book value growth (YoY) | 17.1% | 37.3% | 24.0% | 0.2% | 9.9% | 18.6% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$5.30B totalReportable Segment$5.30B · 100.0%
Product / service
$5.30B totalProductandmaintenance$4.82B · 91.0%
Technology Service$475.17M · 9.0%
Geographic
$9.46B totalAmericas$2.48B · 26.2%
US$2.31B · 24.4%
Asia$1.69B · 17.8%
Other Asia$1.01B · 10.6%
EMEA$790.57M · 8.4%
CN$679.97M · 7.2%
JP$341.67M · 3.6%
Other America$168.35M · 1.8%
Stability scores
Piotroski F-score
FY 2025 · 9-point quality
5/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✗Current ratio improved
- ✓No share dilution
- -Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Services-Prepackaged Software
Comparing CADENCE DESIGN SYSTEMS INC against the 5 most active filers in the same SIC group.