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CDNS CADENCE DESIGN SYSTEMS INC

NasdaqTechnologyServices-Prepackaged SoftwareSan Jose, CAFY ends December 31

Profitable 5/5: Fiscal years with net income above zero, out of the last five reported.FY2025 10-K filed Feb 19, 2026 (SEC EDGAR)

FY2025 at a glance

Fundamentals from SEC filings, not quotes
Revenue
$5.3BYoYup 14.12%ended Dec 31, 2025
Net income
$1.11B20.9% margin
Diluted EPS
$4.06YoYup 5.45%
Free cash flow
$1.59B30.0% margin
Cash
$3B
Total debt
—
About CADENCE DESIGN SYSTEMS INC

Overview

CADENCE DESIGN SYSTEMS INC (CDNS) is listed on Nasdaq; the SEC classifies it under "Services-Prepackaged Software".

For fiscal 2025 (ended Dec 31, 2025) it reported revenue of $5.3B, up 14.1% from fiscal 2024.

Net income was $1.11B, a net margin of 20.9%.

At fiscal year end it had total assets of $10.15B and stockholders' equity of $5.47B (53.9% of assets).

Fiscal years shown
FY2016–FY2025 (10 years)
Latest 10-K
Feb 19, 2026
Latest filing
10-QOct 28, 2026
FY2016–FY2025 · annual 10-K

Charts

Revenue and net income

Revenue and net income, fiscal years FY2016 to FY2025.
PeriodRevenueNet incomeNet margin
FY2016$1.82B$203M11.2%
FY2017$1.94B$204M10.5%
FY2018$2.14B$346M16.2%
FY2019$2.34B$989M42.3%
FY2020$2.68B$591M22.0%
FY2021$2.99B$696M23.3%
FY2022$3.56B$849M23.8%
FY2023$4.09B$1.04B25.5%
FY2024$4.64B$1.06B22.7%
FY2025$5.3B$1.11B20.9%

Diluted EPS

Diluted EPS, fiscal years FY2016 to FY2025.
PeriodEPS (diluted)
FY2016$0.70
FY2017$0.73
FY2018$1.23
FY2019$3.53
FY2020$2.11
FY2021$2.50
FY2022$3.09
FY2023$3.82
FY2024$3.85
FY2025$4.06

Free cash flow vs net income

Free cash flow vs net income, fiscal years FY2016 to FY2025.
PeriodFree cash flowNet income
FY2016$391M$203M
FY2017$413M$204M
FY2018$543M$346M
FY2019$655M$989M
FY2020$810M$591M
FY2021$1.04B$696M
FY2022$1.12B$849M
FY2023$1.25B$1.04B
FY2024$1.12B$1.06B
FY2025$1.59B$1.11B

Diluted shares

Diluted shares, fiscal years FY2016 to FY2025.
PeriodDiluted shares (weighted)
FY2016291M
FY2017280M
FY2018281M
FY2019281M
FY2020280M
FY2021279M
FY2022275M
FY2023273M
FY2024274M
FY2025273M

Cash vs total debt

Cash vs total debt, fiscal years FY2016 to FY2025.
PeriodCash & equivalents
FY2016$465M
FY2017$688M
FY2018$533M
FY2019$705M
FY2020$928M
FY2021$1.09B
FY2022$882M
FY2023$1.01B
FY2024$2.64B
FY2025$3B

Each bar is one fiscal year as reported in its 10-K; bars below the zero line are negative and gaps are years not reported. Per-share figures are as reported, not adjusted for stock splits; comparisons across a likely split are left blank.

FY2025 · 5-year trend

Ratios

Profitability

Operating margin
28.2%
Net margin
20.9%
FCF margin
30.0%
Return on equity
21.9%
Return on assets
11.6%

Growth

Growth. Compound annual growth: (end ÷ start)^(1 ÷ years) − 1, both ends positive.
Metric1y3y CAGR5y CAGR9y CAGR
Revenueup 14.12%up 14.14%up 14.57%—
EPS (diluted)up 5.45%up 9.53%up 13.99%up 21.57%
Free cash flowup 41.94%up 12.36%up 14.39%up 16.84%
Change in share count
-0.19%

Financial strength

Current ratio
2.86×
Interest coverage
12.8×
Equity / assets
53.9%

Shareholder returns

Buybacks
$925M
Stock comp. / revenue
8.6%
Piotroski F-Score · Altman Z''-Score

Quality screens

Piotroski F-Score

4 of 7 checks passed

FY2025 vs FY2024

Partial: 7 of 9 checks could be computed.

  • PassPositive return on assets12.4%
  • PassPositive operating cash flow$1.73B
  • FailReturn on assets improved12.4% vs 18.6%
  • PassOperating cash flow above net income19.3% vs 12.4%
  • —Not computableLong-term debt / assets fell—
  • FailCurrent ratio improved2.86× vs 2.93×
  • PassNo increase in share count273M vs 274M
  • —Not computableGross margin improved—
  • FailAsset turnover improved0.59× vs 0.82×

Altman Z''-Score

Needs current assets and liabilities, retained earnings, operating income, total assets, liabilities and equity from the latest 10-K.

Screening heuristic, not a recommendation. Per-share figures are as reported, not adjusted for stock splits; comparisons across a likely split are left blank.

Last 10 fiscal years · newest first

Financial statements

USD millions, except per-share figures (USD). Share counts in millions.

Income statement

Income statement. USD millions, except per-share figures (USD). Share counts in millions.
MetricFY2025Dec 31, 2025FY2024Dec 31, 2024FY2023Dec 31, 2023FY2022Dec 31, 2022FY2021Jan 1, 2022FY2020Jan 2, 2021FY2019Dec 28, 2019FY2018Dec 29, 2018FY2017Dec 30, 2017FY2016Dec 31, 2016
Revenue5,2974,6414,0903,5622,9882,6832,3362,1381,9431,816
YoY (Revenue)+14.12%+13.48%+14.83%+19.19%+11.38%+14.83%+9.27%—+6.99%—
Operating income1,4921,3511,2511,074779646492396324245
Interest expense1177636.222.91720.718.823.125.723.7
Pretax income1,5221,3961,2821,045768633479376315237
Income tax41334024119672.542.1-51030.611134.1
Net income1,1091,0551,041849696591989346204203
YoY (Net income)+5.06%+1.38%+22.64%+21.98%+17.83%-40.28%+186.02%+69.41%+0.50%—
EPS (basic)4.093.893.863.132.542.163.621.260.750.71
EPS (diluted)4.063.853.823.092.502.113.531.230.730.70
YoY (EPS (diluted))+5.45%+0.79%+23.62%+23.60%+18.48%-40.23%+186.99%+68.49%+4.29%—
Diluted shares (weighted)273274273275279280281281280291

Balance sheet

Balance sheet. USD millions, except per-share figures (USD). Share counts in millions.
MetricFY2025Dec 31, 2025FY2024Dec 31, 2024FY2023Dec 31, 2023FY2022Dec 31, 2022FY2021Jan 1, 2022FY2020Jan 2, 2021FY2019Dec 28, 2019FY2018Dec 29, 2018FY2017Dec 30, 2017FY2016Dec 31, 2016
Cash & equivalents3,0012,6441,0088821,089928705533688465
Inventory3042581821281167655.828.233.239.5
Current assets4,6704,0161,9761,7071,7161,4791,169951980702
Goodwill2,7492,3791,5361,374928782662662666573
Intangible assets718595337355233211172225279259
Total assets10,1538,9745,6695,1374,3863,9513,3572,4692,4192,097
Current liabilities1,6351,3701,5911,348971797672709642586
Retained earnings7,1015,9924,9363,8953,0462,3501,762773341137
Stockholders' equity5,4744,6743,4042,7452,7412,4932,1031,288989742
Shares outstanding272274272273277279280280282278

Cash flow

Cash flow. USD millions, except per-share figures (USD). Share counts in millions.
MetricFY2025Dec 31, 2025FY2024Dec 31, 2024FY2023Dec 31, 2023FY2022Dec 31, 2022FY2021Jan 1, 2022FY2020Jan 2, 2021FY2019Dec 28, 2019FY2018Dec 29, 2018FY2017Dec 30, 2017FY2016Dec 31, 2016
Operating cash flow1,7291,2611,3491,2421,101905730605471445
Capital expenditures14214310212365.394.874.661.557.953.7
Free cash flow1,5871,1181,2471,1191,036810655543413391
YoY (Free cash flow)+41.94%-10.33%+11.46%+8.02%+27.84%+23.68%+20.57%+31.59%+5.54%—
Depreciation & amortization228197145132142146123119116120
Stock-based compensation455391326270210197182168130109
Share repurchases9255507001,050612380306250100960
Key financials (annual, 10-K)

Values as reported in each fiscal year's Form 10-K (XBRL data on SEC EDGAR); growth and ratios are computed from those values. Revenue is the total revenue figure the company tagged (omitted when the only figure tagged is evidently partial, e.g. below net income); growth is only shown between consecutive ~12-month fiscal years reported with the same revenue measure. Per-share figures and share counts are as reported and not adjusted for later stock splits. — = not reported.

FY2025 · per diluted weighted share

Per share and valuation context

EPS (diluted)
$4.06
Revenue per share
$19.38
FCF per share
$5.81
Book value per share
$20.03
Tangible book per share
$7.34
Cash per share
$10.98
Public floatas of Jun 30, 2025
$84B

Price ratios need a live quote. This page shows no stock prices. Per-share figures are as reported, not adjusted for stock splits; comparisons across a likely split are left blank.

Price ratio calculator

Type a share price to compute ratios from the latest 10-K figures. Nothing is stored or sent. (FY2025)

Market capPrice × diluted weighted shares
—
P/EPrice ÷ diluted EPS
—
P/BPrice ÷ book value per share
—
P/SPrice ÷ revenue per share
—
P/FCFPrice ÷ FCF per share
—
Dividend yieldDividends per share ÷ price
—
SEC EDGAR

Filing timeline

  1. 10-Q
    Quarterly report· Sep 30, 2026(SEC EDGAR)
  2. 8-K
    Current report· Oct 23, 2026(SEC EDGAR)
    • 2.02Results of operations
    • 8.01Other events
    • 9.01Financial statements and exhibits
  3. 10-Q
    Quarterly report· Jun 30, 2026(SEC EDGAR)
  4. 8-K
    Current report· Jul 27, 2026(SEC EDGAR)
    • 2.02Results of operations
    • 9.01Financial statements and exhibits
  5. 8-K
    Current report· May 7, 2026(SEC EDGAR)
    • 5.02Officer or director changes
    • 5.07Shareholder vote results
  6. 8-K/A
    Current report (amendment)· Nov 17, 2025(SEC EDGAR)
    • 5.02Officer or director changes
  7. 10-Q
    Quarterly report· Mar 31, 2026(SEC EDGAR)
  8. 8-K
    Current report· Apr 27, 2026(SEC EDGAR)
    • 2.02Results of operations
    • 9.01Financial statements and exhibits
  9. DEF 14A
    Proxy statement· May 7, 2026(SEC EDGAR)
  10. 8-K
    Current report· Feb 23, 2026(SEC EDGAR)
    • 3.02Unregistered sale of equity
All filings on SEC EDGAR
SIC 7372 · Services-Prepackaged Software

Peers (same SIC code)

Peers (same SIC code)
TickerRevenue (FY)YoYNet marginROEF-Score5y revenue
MSFTMICROSOFT CORP$332B—40.3%———
ORCLORACLE CORP$67.4B—25.4%———
CRMSalesforce, Inc.$41.5Bup 9.58%18.0%12.4%7/9
SHOPSHOPIFY INC.$11.6B—10.7%———
CDNSCADENCE DESIGN SYSTEMS INC (This company)$5.3Bup 14.12%20.9%21.9%—
CRWDCrowdStrike Holdings, Inc.$4.81B—-3.4%———
SNOWSnowflake Inc.$4.68Bup 29.16%-28.4%-54.1%—
PLTRPalantir Technologies Inc.$4.48B—36.3%———
SAPSAP SE——————
Peer median$11.6Bup 19.37%18.0%-20.8%7/9—

Companies with the same 4-digit SIC code, ordered by latest revenue. The median excludes this company. — = not reported or not computable.

Frequently asked questions

What does CADENCE DESIGN SYSTEMS INC do?

The SEC classifies CADENCE DESIGN SYSTEMS INC under Standard Industrial Classification (SIC) code 7372, "Services-Prepackaged Software". It is headquartered in San Jose, CA. It is incorporated in DE. In fiscal 2025 it reported revenue of $5.3B and net income of $1.11B in its annual 10-K report.

What was CADENCE DESIGN SYSTEMS INC's revenue in 2025?

CADENCE DESIGN SYSTEMS INC reported revenue of $5.3B for fiscal 2025, which ended Dec 31, 2025, up 14.1% from $4.64B in fiscal 2024, according to its annual 10-K report filed with the SEC on Feb 19, 2026.

What was CADENCE DESIGN SYSTEMS INC's net income in 2025?

CADENCE DESIGN SYSTEMS INC reported net income of $1.11B for fiscal 2025, a net margin of 20.9% of revenue.

Where is CADENCE DESIGN SYSTEMS INC listed?

According to the SEC, CADENCE DESIGN SYSTEMS INC's ticker CDNS is listed on Nasdaq.

When does CADENCE DESIGN SYSTEMS INC's fiscal year end?

According to the SEC, CADENCE DESIGN SYSTEMS INC's fiscal year ends on December 31; its latest reported fiscal year (2025) ended Dec 31, 2025.

Source: SEC EDGAR · Last updated:

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Not investment advice: This page shows financial data that companies reported to the US Securities and Exchange Commission, for information only. It is not investment advice or a recommendation to buy or sell any security, and it shows no stock prices. Data may be incomplete, restated or out of date — check the original filings on SEC EDGAR before making decisions.