FirmAtlas

Company handbook · CDNS · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17

CDNS · CIK 813672 · LATEST FILING: 10-Q JUN '26 · FILED JUL 29, 2026

CADENCE DESIGN SYSTEMS, INC.

$319.51 −4.87 (−1.50%)

Close, Oct 16, 2026 · 52-week $263–417

↗ cadence.com

Last fiscal year

CADENCE DESIGN SYSTEMS, INC. reported revenue of $5.3B for the year ended Dec 31, 2025 (FY25), up 14.1% from FY24. Net income was $1.1B, operating cash flow $1.7B and free cash flow $1.6B. Source: 10-K filed Feb 19, 2026.

Market cap

$86.8B

P/E

74.2

EV/EBITDA

48.7x

P/B

13.2

ROIC

51.7%

Revenue 1Y

14.1%/yr

EPS 1Y

5.5%/yr

Shares 1Y

−0.7%

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Daily closes, split-adjusted · ratios at each fiscal year end

Company

CEOAnirudh Devgan

HQSan Jose, CA

AuditorPricewaterhouseCoopers LLP

Employees13,800

Year endsDecember

Compounded growth & averages

10Y

TTM

Share price

28.5%

15.5%

8.3%

−1.5%

Upgrade to see 10 years

Share price: yearly compound rate of the traded close; the last column is the past year.

Where the cash went · FY24–FY25

$2.9B deployed

Capex $284M 9.7%

Acquisitions $1.2B 39.9%

Buybacks $1.5B 50.4%

Operating cash flow over the period: $3.0B. Total debt changed by $0M.

Sources 10-K FY25 10-Q Jun '26 All filings on EDGAR

Latest filings

Jul 27, 2026 Quarterly results 8-K May 12, 2026 Executive or director change 8-K Apr 27, 2026 Quarterly results 8-K Feb 23, 2026 Other announcement 8-K Feb 17, 2026 Quarterly results 8-K

Growth engines

How much of the profit growth came from new investment, and how much from running the business better.

Upgrade to see 10 years

Financials

Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year

Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier

TTM = the last four quarters, to Mar '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.

Income

FY24 FY25

TTM

Revenue

4,641

5,297+14.1%

5,529

YoY

+14.1%

Operating income

1,351

1,492+10.5%

1,562

Operating margin

29.1%

28.2%−0.9 pp

—

EBITDA

1,548

1,720+11.1%

—

EBITDA margin

33.3%

32.5%−0.9 pp

—

Interest expense

117+53.3%

—

Interest coverage

20.36x

14.76x−5.61x

—

Net income

1,055

1,109+5.1%

1,171

YoY

+5.1%

Net margin

22.7%

20.9%−1.8 pp

—

EPS (diluted, $)

3.85

4.06+5.5%

4.30

YoY

+5.5%

Balance sheet

FY24 FY25

TTM

Total assets

8,974

10,153+13.1%

12,098

Cash & short-term investments

2,785

3,156+13.3%

—

Accounts receivable

680

945+38.9%

—

Inventory

258

304+17.8%

—

Net PP&E

458

517+12.8%

—

Other assets

4,793

5,232+9.2%

—

Total liabilities

4,301

4,679+8.8%

5,537

Accounts payable

633

857+35.4%

—

Other liabilities

3,668

3,822+4.2%

—

Shareholders’ equity

4,674

5,474+17.1%

6,561

Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.

Cash flow statement · as filed

FY24 FY25

TTM

Cash from operations

1,261

1,729+37.1%

1,598

Net income

1,055

1,109+5.1%

—

Depreciation & amortization

197

228+15.7%

—

Stock-based compensation

391

455+16.3%

—

Working capital & other

(383)

(63)n/m

—

Cash from investing

(837)

(461)n/m

—

Capex

(143)

(142)n/m

—

Acquisitions

(738)

(430)n/m

—

Investments bought

(5)

(41)n/m

—

Other investing

152+216.3%

—

Cash from financing

1,239

(949)−176.6%

—

Debt raised

3,197

0−100.0%

—

Debt repaid

(1,350)

0n/m

—

Buybacks

(550)

(925)n/m

—

Shares issued

204

146−28.6%

—

Other financing

(262)

(170)n/m

—

Net change in cash

1,636

357−78.2%

—

Free cash flow (OCF − capex)

1,118

1,587+41.9%

1,430

Where the cash went

FY24 FY25

TTM

Operating cash flow

1,261

1,729+37.1%

1,598

Reinvested in the business

880

571−35.1%

—

% of operating cash flow

69.8%

33.1%

Capex

143

142−0.5%

168

Acquisitions

738

430−41.8%

—

Free cash flow

1,118

1,587+41.9%

1,430

YoY

+41.9%

Returned to shareholders

550

925+68.2%

—

% of free cash flow

49.2%

58.3%

Buybacks

550

925+68.2%

—

FCF conversion (FCF ÷ net income)

105.9%

143.1%+37.2 pp

—

Owner earnings

—

1,109

—

Owner earnings margin

—

20.9%

—

Returns & ratios

FY24 FY25

TTM

ROIC (all capital)

54.1%

51.7%−2.4 pp

—

ROIC (operating)

133.7%

130.0%−3.7 pp

—

ROE

22.6%

20.3%−2.3 pp

—

ROA

11.8%

10.9%−0.8 pp

—

ROCE

17.8%

17.5%−0.2 pp

—

NOPAT

1,021

1,087+6.4%

—

Invested capital (operating)

764

909+19.0%

—

Invested capital (all)

1,889

2,319+22.7%

—

Reinvestment rate

—

13.3%

—

Income

Jun '25

Sep '25

Dec '25

Mar '26

Revenue

1,275

1,339

1,440

1,474

vs year-ago quarter

Operating income

242

425

463

431

Net income

160

287

388

336

vs year-ago quarter

Net margin

12.5%

21.4%

27.0%

22.8%

EPS (diluted, $)

0.59

1.05

1.43

1.23

vs year-ago quarter

Balance sheet

Jun '25

Sep '25

Dec '25

Mar '26

Total assets

9,509

9,599

10,153

12,098

Cash & equivalents

2,823

2,753

3,156

1,407

Shareholders’ equity

5,007

5,199

5,474

6,561

Cash flow

Jun '25

Sep '25

Dec '25

Mar '26

Operating cash flow

378

311

553

356

Capex

Free cash flow

334

277

512

307

vs year-ago quarter