Balance Sheet Cadence Design Systems, Inc.

Equities

CDNS

US1273871087

Software

Market Closed - Nasdaq Other stock markets 04:00:00 2026-02-10 pm EST			After hours 05:03:46 pm
299.00 ^USD	+2.75%		307.00	+2.68%

02:52pm	Cadence Unleashes ChipStack Ai Super Agent	CI
08:34am	Cadence introduces an AI agent to speed up computer chip design	RE

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Published financial data: CADENCE DESIGN SYSTEMS, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	2.68B	2.99B	3.56B	4.09B	4.64B
Total Revenues	2.68B	2.99B	3.56B	4.09B	4.64B
Cost of Goods Sold, Total	305M	307M	372M	435M	648M
Gross Profit	2.38B	2.68B	3.19B	3.65B	3.99B
Selling General & Admin Expenses, Total	671M	749M	836M	921M	1.03B
R&D Expenses	1.03B	1.13B	1.25B	1.44B	1.55B
Amortization of Goodwill and Intangible Assets - (IS)	18.01M	19.64M	18.47M	18.16M	30.38M
Other Operating Expenses, Total	1.72B	1.9B	2.11B	2.38B	2.6B
Operating Income	655M	778M	1.08B	1.27B	1.39B
Interest Expense, Total	-20.75M	-16.98M	-22.93M	-36.18M	-76M
Interest And Investment Income	3.82M	2.63M	10.1M	29.64M	62.48M
Net Interest Expenses	-16.93M	-14.35M	-12.84M	-6.55M	-13.52M
Currency Exchange Gains (Loss)	4.43M	-2.79M	-459K	-5.49M	-965K
Other Non Operating Income (Expenses)	4.65M	5.9M	-9.6M	8.14M	-1.2M
EBT, Excl. Unusual Items	647M	767M	1.06B	1.27B	1.37B
Restructuring Charges	-9.22M	1.05M	-55K	-11.01M	-23.76M
Merger & Related Restructuring Charges	-	-	-10.1M	-12.1M	-14.6M
Gain (Loss) On Sale Of Investments	-4.95M	580K	-5.43M	34.6M	60.74M
Gain (Loss) On Sale Of Assets	-	-	-	-	-
EBT, Incl. Unusual Items	633M	768M	1.05B	1.28B	1.4B
Income Tax Expense	42.1M	72.48M	196M	241M	340M
Earnings From Continuing Operations	591M	696M	849M	1.04B	1.06B
Net Income to Company	591M	696M	849M	1.04B	1.06B
Net Income - (IS)	591M	696M	849M	1.04B	1.06B
Net Income to Common Incl Extra Items	591M	696M	849M	1.04B	1.06B
Net Income to Common Excl. Extra Items	591M	696M	849M	1.04B	1.06B
Per Share Items
Net EPS - Basic	2.16	2.54	3.13	3.86	3.89
Basic EPS - Continuing Operations	2.16	2.54	3.13	3.86	3.89
Basic Weighted Average Shares Outstanding	274M	274M	271M	269M	271M
Net EPS - Diluted	2.11	2.5	3.09	3.82	3.85
Diluted EPS - Continuing Operations	2.11	2.5	3.09	3.82	3.85
Diluted Weighted Average Shares Outstanding	280M	279M	275M	273M	274M
Normalized Basic EPS	1.48	1.75	2.45	2.95	3.17
Normalized Diluted EPS	1.45	1.72	2.41	2.91	3.13
American Depositary Receipts Ratio (ADR)	0.5	0.5	0.5	0.5	0.5
Supplemental Items
EBITDA	800M	920M	1.22B	1.42B	1.59B
EBITA	719M	845M	1.14B	1.34B	1.48B
EBIT	655M	778M	1.08B	1.27B	1.39B
EBITDAR	840M	964M	1.27B	1.48B	1.65B
Total Revenues (As Reported)	2.68B	2.99B	3.56B	4.09B	4.64B
Effective Tax Rate - (Ratio)	6.65	9.43	18.79	18.78	24.38
Current Domestic Taxes	21.48M	45.2M	220M	172M	332M
Current Foreign Taxes	46.74M	70.46M	84.36M	105M	137M
Total Current Taxes	68.22M	116M	304M	277M	469M
Deferred Domestic Taxes	-35.34M	-46.82M	-130M	-62.41M	-136M
Deferred Foreign Taxes	9.22M	3.64M	22.2M	25.9M	6.88M
Total Deferred Taxes	-26.12M	-43.18M	-108M	-36.51M	-129M
Normalized Net Income	404M	479M	663M	794M	858M
Interest on Long-Term Debt	20.75M	16.98M	23.13M	36.18M	76.1M
Non-Cash Pension Expense	-	-	-	-	-
Supplemental Operating Expense Items
Advertising Expense	-	-	-	-	-
Marketing Expenses	7.1M	7.5M	17M	21.7M	23.2M
Selling and Marketing Expenses	516M	560M	604M	690M	757M
General and Administrative Expenses	154M	189M	232M	230M	268M
Research And Development Expense From Footnotes	1.03B	1.13B	1.25B	1.44B	1.55B
Net Rental Expense, Total	39.73M	43.21M	49.16M	56.8M	61.83M
Imputed Operating Lease Interest Expense	13.87M	12.04M	12.85M	19.01M	21.9M
Imputed Operating Lease Depreciation	25.86M	31.17M	36.32M	37.8M	39.93M
Stock-Based Comp., COGS (Total)	6.64M	7.54M	8.67M	10.23M	14.55M
Stock-Based Comp., R&D Exp. (Total)	125M	131M	159M	195M	242M
Stock-Based Comp., S&M Exp. (Total)	42.1M	43.26M	54.77M	66.3M	77.2M
Stock-Based Comp., G&A Exp. (Total)	23.53M	28.04M	48.06M	54.37M	57.74M
Total Stock-Based Compensation	197M	210M	270M	326M	391M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	928M	1.09B	882M	1.01B	2.64B
Short Term Investments	4.45M	5.96M	4.49M	130M	141M
Total Cash And Short Term Investments	933M	1.09B	887M	1.14B	2.78B
Accounts Receivable, Total	348M	344M	509M	507M	680M
Total Receivables	348M	344M	509M	507M	680M
Inventory	75.96M	116M	128M	182M	258M
Prepaid Expenses	122M	75.42M	113M	124M	293M
Other Current Assets, Total	-	85.32M	69.5M	24.9M	-
Total Current Assets	1.48B	1.72B	1.71B	1.98B	4.02B
Gross Property Plant And Equipment	1.14B	1.17B	1.32B	1.39B	1.52B
Accumulated Depreciation	-694M	-733M	-777M	-837M	-917M
Net Property Plant And Equipment	444M	436M	542M	554M	604M
Long-term Investments	132M	128M	120M	138M	124M
Goodwill	782M	928M	1.37B	1.54B	2.38B
Other Intangibles, Total	211M	233M	355M	337M	595M
Accounts Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	732M	764M	854M	880M	982M
Deferred Charges Long-Term	36.7M	43.9M	41.7M	-	-
Other Long-Term Assets, Total	134M	138M	144M	248M	274M
Total Assets	3.95B	4.39B	5.14B	5.67B	8.97B
Liabilities
Accounts Payable, Total	-	-	-	91.19M	5.56M
Accrued Expenses, Total	316M	392M	466M	425M	586M
Short-term Borrowings	-	-	100M	-	-
Current Portion of Long-Term Debt	-	-	-	349M	-
Current Portion of Leases	33.92M	25.27M	36.74M	41.62M	41.55M
Current Income Taxes Payable	-	-	-	-	-
Unearned Revenue Current, Total	447M	554M	745M	684M	737M
Total Current Liabilities	797M	971M	1.35B	1.59B	1.37B
Long-Term Debt	347M	348M	648M	300M	2.48B
Long-Term Leases	114M	107M	139M	115M	109M
Unearned Revenue Non Current	107M	101M	91.52M	98.93M	115M
Pension & Other Post Retirement Benefits	-	-	-	-	-
Other Non Current Liabilities	93.19M	119M	165M	160M	231M
Total Liabilities	1.46B	1.65B	2.39B	2.27B	4.3B
Common Stock, Total	2.22B	2.47B	2.77B	3.17B	4.18B
Retained Earnings	2.35B	3.05B	3.9B	4.94B	5.99B
Treasury Stock	-2.06B	-2.74B	-3.82B	-4.6B	-5.31B
Comprehensive Income and Other	-17.42M	-33.31M	-91.64M	-94.75M	-190M
Total Common Equity	2.49B	2.74B	2.75B	3.4B	4.67B
Total Equity	2.49B	2.74B	2.75B	3.4B	4.67B
Total Liabilities And Equity	3.95B	4.39B	5.14B	5.67B	8.97B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	279M	277M	273M	272M	274M
ECS Total Common Shares Outstanding	279M	277M	273M	272M	274M
Book Value / Share	8.94	9.9	10.07	12.53	17.07
Tangible Book Value	1.5B	1.58B	1.02B	1.53B	1.7B
Tangible Book Value Per Share	5.38	5.7	3.73	5.64	6.21
Total Debt	495M	480M	924M	806M	2.63B
Net Debt	-438M	-615M	37.34M	-332M	-158M
Debt Equivalent of Unfunded Proj. Benefit Obligation	-	-	-	-	-
Debt Equivalent Oper. Leases	318M	346M	393M	454M	495M
Account Code - Inventory Valuation	3	3	5	5	5
Inventories - Raw Materials, Total	63.65M	88.63M	114M	163M	243M
Inventories - Work In Process, Total	-	-	-	-	1.22M
Inventories - Finished Goods, Total	12.31M	27.09M	14.02M	18.91M	13.25M
Land - (BS)	55.85M	55.84M	56.61M	56.64M	57.69M
Buildings, Total	127M	127M	132M	132M	138M
Machinery, Total	683M	704M	762M	822M	919M
Full Time Employees	8.8K	9.3K	10.2K	11.2K	12.7K
Accumulated Allowance for Doubtful Accounts (Supple)	2.87M	3.69M	2.29M	4.55M	5.81M
Order Backlog	-	-	-	-	-

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	591M	696M	849M	1.04B	1.06B
Depreciation & Amortization - CF	85.94M	75.09M	75.61M	83.77M	106M
Amortization of Goodwill and Intangible Assets - (CF)	64.19M	67.22M	59.82M	61.97M	90.45M
Depreciation & Amortization, Total	150M	142M	135M	146M	197M
Amortization of Deferred Charges, Total - (CF)	1.05M	1.22M	1.13M	1.26M	3.47M
(Gain) Loss From Sale Of Asset	-	-	-	-	-
(Gain) Loss on Sale of Investments - (CF)	4.95M	-580K	5.42M	-34.6M	-49.59M
Stock-Based Compensation (CF)	197M	210M	270M	326M	391M
Provision and Write-off of Bad Debts	1.63M	525K	204K	3.32M	2.08M
Other Operating Activities, Total	-25.34M	-54.36M	-107M	-34.53M	-130M
Change In Accounts Receivable	-25.93M	2.01M	-138M	-11.75M	-180M
Change In Inventories	-25.68M	-39.03M	-23.07M	-65.9M	-82.77M
Change In Accounts Payable	18.39M	67.36M	114M	5.42M	33.68M
Change in Unearned Revenues	110M	101M	131M	-21.58M	66.48M
Change in Other Net Operating Assets	-92.36M	-25.28M	3.68M	-4.97M	-46.07M
Cash from Operations	905M	1.1B	1.24B	1.35B	1.26B
Capital Expenditure	-94.81M	-65.3M	-123M	-102M	-143M
Sale of Property, Plant, and Equipment	-	-	-	-	-
Cash Acquisitions	-198M	-226M	-614M	-198M	-738M
Sale (Purchase) of Intangible assets	-	-1.58M	-1M	-166K	-
Investment in Marketable and Equity Securities, Total	217K	128K	-634K	-111M	43M
Cash from Investing	-292M	-293M	-739M	-412M	-837M
Short Term Debt Issued, Total	350M	-	585M	50M	-
Long-Term Debt Issued, Total	-	-	300M	-	3.2B
Total Debt Issued	350M	-	885M	50M	3.2B
Short Term Debt Repaid, Total	-350M	-	-485M	-150M	-
Long-Term Debt Repaid, Total	-	-	-	-	-1.35B
Total Debt Repaid	-350M	-	-485M	-150M	-1.35B
Issuance of Common Stock	74.8M	87.77M	105M	133M	204M
Repurchase of Common Stock	-490M	-730M	-1.16B	-837M	-788M
Other Financing Activities, Total	-	-1.28M	-425K	-	-23.83M
Cash from Financing	-415M	-644M	-657M	-804M	1.24B
Foreign Exchange Rate Adjustments	25.75M	-3.7M	-52.83M	-7.53M	-26.8M
Net Change in Cash	223M	161M	-207M	126M	1.64B
Supplemental Items
Cash Interest Paid	19.78M	15.95M	21.12M	34.93M	43.22M
Cash Income Tax Paid (Refund)	106M	146M	233M	254M	510M
Levered Free Cash Flow	680M	870M	1.01B	1.12B	1B
Unlevered Free Cash Flow	692M	880M	1.02B	1.14B	1.05B
Change In Net Working Capital	-29.88M	-108M	-65.93M	28.75M	265M
Net Debt Issued / Repaid	0	-	400M	-100M	1.85B

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	11.2	11.67	14.23	14.74	11.86
Return on Total Capital	14.76	15.67	19.66	20.22	15.09
Return On Equity %	25.7	26.6	30.95	33.86	26.13
Return on Common Equity	25.7	26.6	30.95	33.86	26.13
Margin Analysis
Gross Profit Margin %	88.61	89.73	89.57	89.36	86.05
SG&A Margin	25.01	25.07	23.48	22.51	22.09
EBITDA Margin %	29.83	30.8	34.14	34.71	34.17
EBITA Margin %	26.8	28.29	32.11	32.67	31.88
EBIT Margin %	24.41	26.04	30.43	31.16	29.93
Income From Continuing Operations Margin %	22.02	23.29	23.84	25.46	22.74
Net Income Margin %	22.02	23.29	23.84	25.46	22.74
Net Avail. For Common Margin %	22.02	23.29	23.84	25.46	22.74
Normalized Net Income Margin	15.07	16.04	18.62	19.41	18.5
Levered Free Cash Flow Margin	25.34	29.12	28.41	27.27	21.65
Unlevered Free Cash Flow Margin	25.78	29.44	28.78	27.79	22.59
Asset Turnover
Asset Turnover	0.73	0.72	0.75	0.76	0.63
Fixed Assets Turnover	6.54	6.79	7.28	7.46	8.01
Receivables Turnover (Average Receivables)	8.09	8.63	8.34	8.05	7.94
Inventory Turnover (Average Inventory)	4.64	3.2	3.05	2.81	2.95
Short Term Liquidity
Current Ratio	1.86	1.77	1.27	1.24	2.93
Quick Ratio	1.61	1.48	1.04	1.03	2.53
Operating Cash Flow to Current Liabilities	1.14	1.13	0.92	0.85	0.92
Days Sales Outstanding (Average Receivables)	45.84	42.18	43.63	45.35	46.12
Days Outstanding Inventory (Average Inventory)	80	113.63	119.36	129.9	124.18
Average Days Payable Outstanding	-	-	-	51.65	24.47
Cash Conversion Cycle (Average Days)	-	-	-	123.6	145.83
Long Term Solvency
Total Debt/Equity	19.84	17.51	33.67	23.68	56.2
Total Debt / Total Capital	16.56	14.9	25.19	19.14	35.98
LT Debt/Equity	18.48	16.59	28.68	12.19	55.31
Long-Term Debt / Total Capital	15.42	14.12	21.46	9.86	35.41
Total Liabilities / Total Assets	36.9	37.52	46.56	39.95	47.92
EBIT / Interest Expense	31.56	45.82	47.26	35.22	18.28
EBITDA / Interest Expense	40.49	56.75	55.16	40.8	21.68
(EBITDA - Capex) / Interest Expense	35.92	52.9	49.79	37.97	19.81
Total Debt / EBITDA	0.59	0.5	0.73	0.55	1.59
Net Debt / EBITDA	-0.52	-0.64	0.03	-0.23	-0.1
Total Debt / (EBITDA - Capex)	0.66	0.53	0.81	0.59	1.74
Net Debt / (EBITDA - Capex)	-0.59	-0.68	0.03	-0.24	-0.1
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	14.83	11.38	19.19	14.83	13.48
Gross Profit, 1 Yr. Growth %	14.85	12.78	18.98	14.57	9.27
EBITDA, 1 Yr. Growth %	28.44	14.98	31.74	16.75	11.72
EBITA, 1 Yr. Growth %	29.89	17.57	34.89	16.84	10.72
EBIT, 1 Yr. Growth %	30.84	18.83	38.84	17.58	9.01
Earnings From Cont. Operations, 1 Yr. Growth %	-40.28	17.83	21.98	22.64	1.38
Net Income, 1 Yr. Growth %	-40.28	17.83	21.98	22.64	1.38
Normalized Net Income, 1 Yr. Growth %	31.57	18.53	37.89	19.75	9.04
Diluted EPS Before Extra, 1 Yr. Growth %	-40.23	18.48	23.6	23.62	0.79
Accounts Receivable, 1 Yr. Growth %	10.62	-1.09	47.93	-0.53	39.09
Inventory, 1 Yr. Growth %	36.12	52.35	10.62	41.92	41.86
Net Property, Plant and Equip., 1 Yr. Growth %	18.15	-1.9	24.26	2.25	9.09
Total Assets, 1 Yr. Growth %	17.68	11.02	17.12	10.36	58.29
Tangible Book Value, 1 Yr. Growth %	18.26	5.25	-35.64	50.71	11.01
Common Equity, 1 Yr. Growth %	18.55	9.93	0.16	24.01	37.29
Cash From Operations, 1 Yr. Growth %	24.03	21.66	12.8	8.64	-6.57
Capital Expenditures, 1 Yr. Growth %	27.09	-31.13	88.7	-16.94	39.29
Levered Free Cash Flow, 1 Yr. Growth %	29.6	28.02	16.04	10.22	-9.91
Unlevered Free Cash Flow, 1 Yr. Growth %	29.22	27.18	16.3	10.89	-7.73
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	12.02	13.09	15.22	16.99	14.15
Gross Profit, 2 Yr. CAGR %	12.47	13.81	15.84	16.75	11.89
EBITDA, 2 Yr. CAGR %	23.36	21.52	23.07	24.02	14.21
EBITA, 2 Yr. CAGR %	24.93	23.58	25.91	25.54	13.74
EBIT, 2 Yr. CAGR %	26.79	24.69	28.42	27.77	13.21
Earnings From Cont. Operations, 2 Yr. CAGR %	30.7	-16.11	19.89	22.31	11.5
Net Income, 2 Yr. CAGR %	30.7	-16.11	19.89	22.31	11.5
Normalized Net Income, 2 Yr. CAGR %	29.67	24.88	27.83	28.5	13.31
Diluted EPS Before Extra, 2 Yr. CAGR %	30.98	-15.84	21.01	23.61	11.62
Accounts Receivable, 2 Yr. CAGR %	6.47	4.6	20.96	21.3	15.57
Inventory, 2 Yr. CAGR %	64.23	44.01	29.82	25.29	41.89
Net Property, Plant and Equip., 2 Yr. CAGR %	32.64	7.66	10.41	12.72	5.62
Total Assets, 2 Yr. CAGR %	26.51	14.3	14.03	13.69	32.17
Tangible Book Value, 2 Yr. CAGR %	93.51	11.56	-17.7	-1.51	29.35
Common Equity, 2 Yr. CAGR %	39.1	14.16	4.93	11.45	30.48
Cash From Operations, 2 Yr. CAGR %	22.33	22.84	17.15	10.7	0.75
Capital Expenditures, 2 Yr. CAGR %	24.16	-6.45	14	25.19	7.56
Levered Free Cash Flow, 2 Yr. CAGR %	31.8	28.81	21.86	13.09	-0.35
Unlevered Free Cash Flow, 2 Yr. CAGR %	30.75	28.2	21.6	13.56	1.15
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	11.35	11.81	15.09	15.09	15.81
Gross Profit, 3 Yr. CAGR %	11.7	12.58	15.51	15.41	14.2
EBITDA, 3 Yr. CAGR %	21.26	20.5	24.96	20.93	19.78
EBITA, 3 Yr. CAGR %	22.63	22.43	27.37	22.82	20.39
EBIT, 3 Yr. CAGR %	25.23	24.08	29.38	24.7	21.18
Earnings From Cont. Operations, 3 Yr. CAGR %	42.5	26.26	-4.96	20.8	14.89
Net Income, 3 Yr. CAGR %	42.5	26.26	-4.96	20.8	14.89
Normalized Net Income, 3 Yr. CAGR %	27.11	25.85	29.22	25.07	21.31
Diluted EPS Before Extra, 3 Yr. CAGR %	42.45	26.67	-4.34	21.88	15.48
Accounts Receivable, 3 Yr. CAGR %	21.45	3.89	17.41	13.33	25.48
Inventory, 3 Yr. CAGR %	31.76	60.17	31.88	33.73	30.59
Net Property, Plant and Equip., 3 Yr. CAGR %	20.93	19.95	12.93	7.62	11.5
Total Assets, 3 Yr. CAGR %	17.77	21.12	15.23	12.79	26.95
Tangible Book Value, 3 Yr. CAGR %	223.4	57.96	-7.13	0.69	2.49
Common Equity, 3 Yr. CAGR %	36.09	28.61	9.29	10.94	19.47
Cash From Operations, 3 Yr. CAGR %	24.34	22.1	19.4	14.24	4.62
Capital Expenditures, 3 Yr. CAGR %	17.87	2.02	18.2	2.58	29.72
Levered Free Cash Flow, 3 Yr. CAGR %	24.85	30.53	24.48	17.85	4.84
Unlevered Free Cash Flow, 3 Yr. CAGR %	23.85	29.55	24.18	17.92	5.97
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	9.53	10.47	12.88	13.85	14.72
Gross Profit, 5 Yr. CAGR %	10.19	11.45	13.34	14.23	14.05
EBITDA, 5 Yr. CAGR %	14.38	17.75	22.05	21.96	20.54
EBITA, 5 Yr. CAGR %	15.17	19.46	24.02	23.74	21.73
EBIT, 5 Yr. CAGR %	17.64	22.08	26.59	25.62	22.65
Earnings From Cont. Operations, 5 Yr. CAGR %	18.53	27.93	32.99	24.66	1.31
Net Income, 5 Yr. CAGR %	18.53	27.93	32.99	24.66	1.31
Normalized Net Income, 5 Yr. CAGR %	19.06	22.73	27.49	26.99	22.81
Diluted EPS Before Extra, 5 Yr. CAGR %	21.1	28.99	33.45	25.44	1.75
Accounts Receivable, 5 Yr. CAGR %	16.13	16.99	21.25	10.53	16.67
Inventory, 5 Yr. CAGR %	6	24	30.98	45.18	35.8
Net Property, Plant and Equip., 5 Yr. CAGR %	14.22	12.82	16.61	17.01	9.95
Total Assets, 5 Yr. CAGR %	10.99	15.91	16.26	18.09	21.73
Tangible Book Value, 5 Yr. CAGR %	23.24	77.43	87.07	30.76	6.03
Common Equity, 5 Yr. CAGR %	12.62	29.87	22.65	21.45	17.32
Cash From Operations, 5 Yr. CAGR %	19.06	19.87	21.41	17.41	11.56
Capital Expenditures, 5 Yr. CAGR %	16.17	3.98	16.3	10.72	13.82
Levered Free Cash Flow, 5 Yr. CAGR %	11.14	19.36	23.7	23.3	13.88
Unlevered Free Cash Flow, 5 Yr. CAGR %	11.07	18.72	23	22.94	14.4