Balance Sheet Cadence Design Systems, Inc.

Equities

CDNS

US1273871087

Software

Market Closed - Nasdaq Other stock markets 04:00:00 2024-09-10 pm EDT			5-day change	1st Jan Change
255.85 ^USD	+1.20%		-0.17%	-6.07%

Aug. 22	Intel Board Member Lip-Bu Tan Leaves After 2-Year Stint	MT
Aug. 15	Cadence Design Systems Lands $1.25 Billion Revolving Credit Facility	MT

cf.4a2LUdP2a4G4ib_97QMZDeaxqhU6dNwzAHjV6V6BU0w.1t_dYKGCX_P_5JKR3GdXb6_T3mJVNplKaR-kggqzZH_X3L0U5ZkosdTu8g

Published financial data: CADENCE DESIGN SYSTEMS, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	2.34B	2.68B	2.99B	3.56B	4.09B
Total Revenues	2.34B	2.68B	2.99B	3.56B	4.09B
Cost of Goods Sold, Total	266M	305M	307M	372M	435M
Gross Profit	2.07B	2.38B	2.68B	3.19B	3.65B
Selling General & Admin Expenses, Total	621M	671M	749M	836M	921M
R&D Expenses	936M	1.03B	1.13B	1.25B	1.44B
Amortization of Goodwill and Intangible Assets - (IS)	12.13M	18.01M	19.64M	18.47M	18.16M
Other Operating Expenses, Total	1.57B	1.72B	1.9B	2.11B	2.38B
Operating Income	500M	655M	778M	1.08B	1.27B
Interest Expense, Total	-18.83M	-20.75M	-16.98M	-22.93M	-36.18M
Interest And Investment Income	9.51M	3.82M	2.63M	10.1M	29.64M
Net Interest Expenses	-9.32M	-16.93M	-14.35M	-12.84M	-6.55M
Currency Exchange Gains (Loss)	-4.11M	4.43M	-2.79M	-459K	-5.49M
Other Non Operating Income (Expenses)	4.69M	4.65M	5.9M	-9.6M	8.14M
EBT, Excl. Unusual Items	492M	647M	767M	1.06B	1.27B
Restructuring Charges	-8.62M	-9.22M	1.05M	-55K	-11.01M
Merger & Related Restructuring Charges	-	-	-	-10.1M	-12.1M
Gain (Loss) On Sale Of Investments	-4.09M	-4.95M	580K	-5.43M	34.6M
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	479M	633M	768M	1.05B	1.28B
Income Tax Expense	-510M	42.1M	72.48M	196M	241M
Earnings From Continuing Operations	989M	591M	696M	849M	1.04B
Net Income to Company	989M	591M	696M	849M	1.04B
Net Income - (IS)	989M	591M	696M	849M	1.04B
Net Income to Common Incl Extra Items	989M	591M	696M	849M	1.04B
Net Income to Common Excl. Extra Items	989M	591M	696M	849M	1.04B
Per Share Items
Net EPS - Basic	3.62	2.16	2.54	3.13	3.86
Basic EPS - Continuing Operations	3.62	2.16	2.54	3.13	3.86
Basic Weighted Average Shares Outstanding	273M	274M	274M	271M	269M
Net EPS - Diluted	3.53	2.11	2.5	3.09	3.82
Diluted EPS - Continuing Operations	3.53	2.11	2.5	3.09	3.82
Diluted Weighted Average Shares Outstanding	281M	280M	279M	275M	273M
Normalized Basic EPS	1.12	1.48	1.75	2.45	2.95
Normalized Diluted EPS	1.1	1.45	1.72	2.41	2.91
American Depositary Receipts Ratio (ADR)	0.5	0.5	0.5	0.5	0.5
Supplemental Items
EBITDA	623M	800M	920M	1.22B	1.42B
EBITA	553M	719M	845M	1.14B	1.34B
EBIT	500M	655M	778M	1.08B	1.27B
EBITDAR	658M	840M	964M	1.27B	1.48B
Total Revenues (As Reported)	2.34B	2.68B	2.99B	3.56B	4.09B
Effective Tax Rate - (Ratio)	-106.48	6.65	9.43	18.79	18.78
Current Domestic Taxes	18M	21.48M	45.2M	220M	172M
Current Foreign Taxes	48.73M	46.74M	70.46M	84.36M	105M
Total Current Taxes	66.73M	68.22M	116M	304M	277M
Deferred Domestic Taxes	-2.41M	-35.34M	-46.82M	-130M	-62.41M
Deferred Foreign Taxes	-574M	9.22M	3.64M	22.2M	25.9M
Total Deferred Taxes	-577M	-26.12M	-43.18M	-108M	-36.51M
Normalized Net Income	307M	404M	479M	663M	794M
Interest on Long-Term Debt	18.83M	20.75M	16.98M	23.13M	36.18M
Non-Cash Pension Expense	-	-	-	-	-
Supplemental Operating Expense Items
Advertising Expense	-	-	-	-	-
Marketing Expenses	8.4M	7.1M	7.5M	17M	21.7M
Selling and Marketing Expenses	482M	516M	560M	604M	690M
General and Administrative Expenses	140M	154M	189M	232M	230M
Research And Development Expense From Footnotes	936M	1.03B	1.13B	1.25B	1.44B
Net Rental Expense, Total	34.71M	39.73M	43.21M	49.16M	56.8M
Imputed Operating Lease Interest Expense	11.6M	13.87M	12.04M	12.85M	19.01M
Imputed Operating Lease Depreciation	23.11M	25.86M	31.17M	36.32M	37.8M
Stock-Based Comp., COGS (Total)	6.27M	6.64M	7.54M	8.67M	10.23M
Stock-Based Comp., R&D Exp. (Total)	115M	125M	131M	159M	195M
Stock-Based Comp., S&M Exp. (Total)	39.09M	42.1M	43.26M	54.77M	66.3M
Stock-Based Comp., G&A Exp. (Total)	21.53M	23.53M	28.04M	48.06M	54.37M
Total Stock-Based Compensation	182M	197M	210M	270M	326M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	705M	928M	1.09B	882M	1.01B
Short Term Investments	4.6M	4.45M	5.96M	4.49M	130M
Total Cash And Short Term Investments	710M	933M	1.09B	887M	1.14B
Accounts Receivable, Total	315M	348M	344M	509M	507M
Total Receivables	315M	348M	344M	509M	507M
Inventory	55.8M	75.96M	116M	128M	182M
Prepaid Expenses	88.98M	122M	75.42M	113M	124M
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	-	-	85.32M	69.5M	24.9M
Total Current Assets	1.17B	1.48B	1.72B	1.71B	1.98B
Gross Property Plant And Equipment	1.01B	1.14B	1.17B	1.32B	1.39B
Accumulated Depreciation	-635M	-694M	-733M	-777M	-837M
Net Property Plant And Equipment	376M	444M	436M	542M	554M
Long-term Investments	138M	132M	128M	120M	138M
Goodwill	662M	782M	928M	1.37B	1.54B
Other Intangibles, Total	172M	211M	233M	355M	337M
Accounts Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	732M	732M	764M	854M	880M
Deferred Charges Long-Term	31.6M	36.7M	43.9M	41.7M	-
Other Long-Term Assets, Total	75.27M	134M	138M	144M	248M
Total Assets	3.36B	3.95B	4.39B	5.14B	5.67B
Liabilities
Accounts Payable, Total	-	-	-	-	91.19M
Accrued Expenses, Total	291M	316M	392M	466M	425M
Short-term Borrowings	-	-	-	100M	-
Current Portion of Long-Term Debt	-	-	-	-	349M
Current Portion of Leases	25.56M	33.92M	25.27M	36.74M	41.62M
Current Income Taxes Payable	-	-	-	-	-
Unearned Revenue Current, Total	355M	447M	554M	745M	684M
Other Current Liabilities	-	-	-	-	-
Total Current Liabilities	672M	797M	971M	1.35B	1.59B
Long-Term Debt	346M	347M	348M	648M	300M
Long-Term Leases	84.78M	114M	107M	139M	115M
Unearned Revenue Non Current	73.4M	107M	101M	91.52M	98.93M
Pension & Other Post Retirement Benefits	-	-	-	-	-
Other Non Current Liabilities	77.74M	93.19M	119M	165M	160M
Total Liabilities	1.25B	1.46B	1.65B	2.39B	2.27B
Common Stock, Total	2.05B	2.22B	2.47B	2.77B	3.17B
Retained Earnings	1.76B	2.35B	3.05B	3.9B	4.94B
Treasury Stock	-1.67B	-2.06B	-2.74B	-3.82B	-4.6B
Comprehensive Income and Other	-36.93M	-17.42M	-33.31M	-91.64M	-94.75M
Total Common Equity	2.1B	2.49B	2.74B	2.75B	3.4B
Total Equity	2.1B	2.49B	2.74B	2.75B	3.4B
Total Liabilities And Equity	3.36B	3.95B	4.39B	5.14B	5.67B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	280M	279M	277M	273M	272M
ECS Total Common Shares Outstanding	280M	279M	277M	273M	272M
Book Value / Share	7.51	8.94	9.9	10.07	12.53
Tangible Book Value	1.27B	1.5B	1.58B	1.02B	1.53B
Tangible Book Value Per Share	4.53	5.38	5.7	3.73	5.64
Total Debt	456M	495M	480M	924M	806M
Net Debt	-253M	-438M	-615M	37.34M	-332M
Debt Equivalent of Unfunded Proj. Benefit Obligation	-	-	-	-	-
Debt Equivalent Oper. Leases	278M	318M	346M	393M	454M
Account Code - Inventory Valuation	3	3	3	5	5
Inventories - Raw Materials, Total	36.64M	63.65M	88.63M	114M	163M
Inventories - Finished Goods, Total	19.16M	12.31M	27.09M	14.02M	18.91M
Land - (BS)	55.82M	55.85M	55.84M	56.61M	56.64M
Buildings, Total	127M	127M	127M	132M	132M
Machinery, Total	617M	683M	704M	762M	822M
Full Time Employees	8.1K	8.8K	9.3K	10.2K	11.2K
Accumulated Allowance for Doubtful Accounts (Supple)	869K	2.87M	3.69M	2.29M	4.55M
Order Backlog	-	-	-	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	989M	591M	696M	849M	1.04B
Depreciation & Amortization - CF	70.27M	85.94M	75.09M	75.61M	83.77M
Amortization of Goodwill and Intangible Assets - (CF)	53.08M	64.19M	67.22M	59.82M	61.97M
Depreciation & Amortization, Total	123M	150M	142M	135M	146M
Amortization of Deferred Charges, Total - (CF)	1M	1.05M	1.22M	1.13M	1.26M
(Gain) Loss From Sale Of Asset	-	-	-	-	-
(Gain) Loss on Sale of Investments - (CF)	4.09M	4.95M	-580K	5.42M	-34.6M
Stock-Based Compensation (CF)	182M	197M	210M	270M	326M
Provision and Write-off of Bad Debts	632K	1.63M	525K	204K	3.32M
Other Operating Activities, Total	-576M	-25.34M	-54.36M	-107M	-34.53M
Change In Accounts Receivable	-4.72M	-25.93M	2.01M	-138M	-11.75M
Change In Inventories	-33.02M	-25.68M	-39.03M	-23.07M	-65.9M
Change In Accounts Payable	33.92M	18.39M	67.36M	114M	5.42M
Change in Unearned Revenues	27.5M	110M	101M	131M	-21.58M
Change in Other Net Operating Assets	-17.36M	-92.36M	-25.28M	3.68M	-4.97M
Cash from Operations	730M	905M	1.1B	1.24B	1.35B
Capital Expenditure	-74.6M	-94.81M	-65.3M	-123M	-102M
Sale of Property, Plant, and Equipment	-	-	-	-	-
Cash Acquisitions	-338K	-198M	-226M	-614M	-198M
Sale (Purchase) of Intangible assets	-	-	-1.58M	-1M	-166K
Investment in Marketable and Equity Securities, Total	-30.76M	217K	128K	-634K	-111M
Cash from Investing	-106M	-292M	-293M	-739M	-412M
Short Term Debt Issued, Total	150M	350M	-	585M	50M
Long-Term Debt Issued, Total	-	-	-	300M	-
Total Debt Issued	150M	350M	-	885M	50M
Short Term Debt Repaid, Total	-250M	-350M	-	-485M	-150M
Long-Term Debt Repaid, Total	-	-	-	-	-
Total Debt Repaid	-250M	-350M	-	-485M	-150M
Issuance of Common Stock	52.84M	74.8M	87.77M	105M	133M
Repurchase of Common Stock	-397M	-490M	-730M	-1.16B	-837M
Other Financing Activities, Total	-	-	-1.28M	-425K	-
Cash from Financing	-444M	-415M	-644M	-657M	-804M
Foreign Exchange Rate Adjustments	-8.09M	25.75M	-3.7M	-52.83M	-7.53M
Net Change in Cash	172M	223M	161M	-207M	126M
Supplemental Items
Cash Interest Paid	17.84M	19.78M	15.95M	21.12M	34.93M
Cash Income Tax Paid (Refund)	41.95M	106M	146M	233M	254M
Levered Free Cash Flow	525M	680M	870M	1.01B	1.12B
Unlevered Free Cash Flow	535M	692M	880M	1.02B	1.14B
Change In Net Working Capital	7.78M	-29.88M	-108M	-65.93M	28.75M
Net Debt Issued / Repaid	-100M	0	-	400M	-100M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	10.74	11.2	11.67	14.23	14.74
Return on Total Capital	14.57	14.76	15.67	19.66	20.22
Return On Equity %	58.32	25.7	26.6	30.95	33.86
Return on Common Equity	58.32	25.7	26.6	30.95	33.86
Margin Analysis
Gross Profit Margin %	88.6	88.61	89.73	89.57	89.36
SG&A Margin	26.6	25.01	25.07	23.48	22.51
EBITDA Margin %	26.67	29.83	30.8	34.14	34.71
EBITA Margin %	23.69	26.8	28.29	32.11	32.67
EBIT Margin %	21.42	24.41	26.04	30.43	31.16
Income From Continuing Operations Margin %	42.33	22.02	23.29	23.84	25.46
Net Income Margin %	42.33	22.02	23.29	23.84	25.46
Net Avail. For Common Margin %	42.33	22.02	23.29	23.84	25.46
Normalized Net Income Margin	13.15	15.07	16.04	18.62	19.41
Levered Free Cash Flow Margin	22.45	25.34	29.12	28.41	27.27
Unlevered Free Cash Flow Margin	22.91	25.78	29.44	28.78	27.79
Asset Turnover