Cadence Design Systems

Information Technology Application Software San Jose, California Last filing Feb 19, 2026 · FY2025

                    Revenue
                    FY2025
                
$5.3B
                    3y CAGR +14.1%
                    
                    P79
                    
                    +14.1%
                    
                    Net income
                    FY2025
                
$1.1B
                    Net margin +20.9%
                    
                    P68
                    
                    +5.1%
                    
                    Total assets
                    FY2025
                
$10.2B
                    ROA +10.9%
                    
                    P59
                    
                    +13.1%
                    
                    Operating cash flow
                    FY2025
                
$1.7B
                    FCF margin +30.0%
                    
                    P78
                    
                    +37.1%

18 yrs · FY2008–FY2025 8 filed · 1 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

28 accounts · 3 years

Total assets $10.2B

Total liabilities ~$4.7B

Shareholders equity $5.5B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	29.6%	29.5%	17.8%
Short Term Investments	0.8%	1.6%	2.3%
Accounts Receivable	9.9%	7.9%	8.6%
Inventory	3.0%	2.9%	3.2%
Prepaid Expenses	4.1%	4.8%	5.2%
Total Current Assets	46.0%	44.7%	34.9%
Property,Plant and Equipment	5.1%	5.1%	7.1%
Goodwill	27.1%	26.5%	27.1%
Intangible Assets	7.1%	6.6%	5.9%
Long Term Investments	0.7%	0.6%	2.4%
Deferred Tax Assets	9.0%	10.9%	15.5%
Other Noncurrent Assets	9.0%	3.1%	4.4%
Total Assets	100.0%	100.0%	100.0%
Liabilities
Accounts Payable	8.4%	7.0%	10.2%
Accrued Liabilities	3.7%	3.3%	3.0%
Other Current Liabilities	4.0%	3.8%	4.9%
Total Current Liabilities	16.1%	15.3%	28.1%
Operating Lease Liabilities Noncurrent	1.3%	1.2%	2.0%
Deferred Tax Liabilities	0.0%	1.2%	1.5%
Other Noncurrent Liabilities	4.0%	3.8%	4.9%
Equity
Preferred Stock	0.0%	0.0%	0.0%
Common Stock	0.0%	12.8%	20.2%
Additional Paid In Capital	4.5%	4.4%	5.7%
Retained Earnings	69.9%	66.8%	87.1%
Treasury Stock	62.5%	59.2%	81.2%
Accumulated Other Comprehensive Income	-0.0%	-2.1%	-1.7%
Total Stockholders Equity	53.9%	52.1%	60.0%
Total Liabilitiesand Equity	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

19 accounts · 3 years

Revenue $5.3B

Operating income $1.5B

Net income $1.1B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	52.2%	51.7%	72.1%
Expenses Cost of Revenue	37.5%	36.7%	50.1%
Expenses Selling,General and Administrative	3.1%	3.1%	4.3%
Expenses Depreciation and Amortization	2.2%	2.2%	2.6%
Expenses Share Based Compensation	4.5%	4.4%	5.7%
Expenses Restructuring and Asset Impairment	0.3%	0.3%	0.2%
Expenses Operating Expenses	37.5%	36.7%	50.1%
Other Income Expense Operating Income	14.7%	15.1%	22.1%
Other Income Expense Interest Income	1.0%	0.7%	0.5%
Other Income Expense Interest Expense	1.1%	0.8%	0.6%
Other Income Expense Other Income/expense	1.4%	1.3%	1.2%
Other Income Expense Income Before Tax	15.0%	15.6%	22.6%
Income Tax Income Tax Expense	4.1%	3.8%	4.2%
net Income net Income	10.9%	11.8%	18.4%
net Income Comprehensive Income	12.8%	10.7%	18.3%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	2.7%	3.0%	4.8%
Earnings Per Share Weighted Average Shares Diluted	2.7%	3.1%	4.8%

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 3 years

Operating cash flow $1.7B

Investing cash flow $-460.5M

Financing cash flow $-949.0M

Account	2025	2024	2023
CashFlow
Operating Activities net Income	10.9%	11.8%	18.4%
Operating Activities Depreciation and Amortization	2.2%	2.2%	2.6%
Operating Activities Stock Based Compensation	4.5%	4.4%	5.7%
Operating Activities Deferred Income Taxes	0.7%	-1.4%	-0.6%
Operating Activities Changes In Operating Assets and Liabilities	1.2%	2.6%	0.1%
Operating Activities net Cash From Operating Activities	17.0%	14.0%	23.8%
Investing Activities Capital Expenditures	1.4%	1.6%	1.8%
Investing Activities Business Acquisitions	4.2%	8.2%	3.5%
Investing Activities Purchases of Investments	0.4%	0.1%	3.1%
Investing Activities net Cash From Investing Activities	-4.5%	-9.3%	-7.3%
Financing Activities Proceeds From Debt	0.0%	0.0%	0.9%
Financing Activities Repayment of Debt	0.0%	0.0%	2.6%
Financing Activities Repurchase of Common Stock	9.1%	6.1%	12.3%
Financing Activities Proceeds From Stock Issuance	0.3%	1.0%	0.5%
Financing Activities Tax Withholding On Stock Based Compensation	1.7%	2.6%	2.4%
Financing Activities net Cash From Financing Activities	-9.3%	13.8%	-14.2%
Cash Reconciliation Effect of Exchange Rate On Cash	0.4%	-0.3%	-0.1%
Cash Reconciliation net Change In Cash	3.5%	18.2%	2.2%
Cash Reconciliation Cash At Beginning of Period	29.6%	29.5%	17.8%
Cash Reconciliation Cash At End of Period	29.6%	29.5%	17.8%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+28.2%	+29.1%	+30.6%
Operating margin	+28.2%	+29.1%	+30.6%
Net margin	+20.9%	+22.7%	+25.5%
FCF margin	+30.0%	+24.1%	+30.5%
Growth
Revenue CAGR (3y)	+14.1%	+15.8%	—
Returns
ROE	+20.3%	+22.6%	+30.6%
ROA	+10.9%	+11.8%	+18.4%
ROIC	—	—	—
Liquidity
Current ratio	2.86x	2.93x	1.24x
Quick ratio	2.45x	2.45x	0.94x
Leverage
D/E	0.85x	0.92x	0.67x
Interest coverage	12.80x	17.77x	34.58x
Efficiency
Asset turnover	0.52x	0.52x	0.72x
Cash conversion cycle	+16d	+14d	-7d

Valuation

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FY2025 fundamentals · no price

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Cadence Design Systems

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