Overview
CADENCE DESIGN SYSTEMS INC
Latest 10-K: FY2025, filed Feb 19, 2026 · Open the 10-K (Inline XBRL) ↗
- Revenue
- $5.30B
- 14.1%YoYup from FY2024
- TotalRevenue
- Gross profit
- Not reported
- Operating income
- $1.49B
- 10.5%YoYup from FY2024
- OperatingIncome
- Net income
- $1.11B
- 5.1%YoYup from FY2024
- NetIncome
- Diluted EPS
- $4.06
- 5.5%YoYup from FY2024
- EPSDiluted
- Diluted shares
- 273.3M
- 0.2%YoYdown from FY2024
- WeightedAvgSharesDiluted
At a glance
Growth
- CADENCE DESIGN SYSTEMS INC reported revenue of $5.30B for fiscal 2025, up 14.1% from fiscal 2024.
- Revenue grew faster than the median S&P 500 member in 4 of the last 5 fiscal years.
Profitability
- Operating margin was 28.2% and net margin was 20.9%, against a median net margin of 12.8% across S&P 500 members for the same fiscal year.
Per share
- Diluted EPS was $4.06, up 5.5% from the prior year.
Written from the filed figures on this page by fixed rules — no AI.
Data as of Oct 31, 2026 · Sources: SEC EDGAR 10-K
Financial statements
Annual figures from the 10-K, most recent fiscal year first.
Income Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Revenue | $5.30B14.1%up Benchmark median 6.4% | $4.64B13.5%up Benchmark median 4.5% | $4.09B14.8%up Benchmark median 4.8% | $3.56B19.2%up Benchmark median 10.3% | $2.99B11.4%up Benchmark median 13.8% | 15.4% Benchmark median 6.6% |
| Gross Profit Median of 315 / 498 | — | — | — | — | — | — Benchmark median 6.2% |
| Operating Income Median of 373 / 498 | $1.49B10.5%up Benchmark median 7.3% | $1.35B8.0%up Benchmark median 7.4% | $1.25B16.5%up Benchmark median 4.9% | $1.07B37.8%up Benchmark median 7.5% | $0.78B20.7%up Benchmark median 23.5% | 17.6% Benchmark median 7.2% |
| Net Income | $1.11B5.1%up Benchmark median 4.8% | $1.06B1.4%up Benchmark median 5.7% | $1.04B22.6%up Benchmark median 1.9% | $0.85B22.0%up Benchmark median 1.3% | $0.70B17.8%up Benchmark median 33.9% | 12.4% Benchmark median 4.1% |
| EPS (Diluted) | $4.065.5%up Benchmark median 6.2% | $3.850.8%up Benchmark median 7.9% | $3.8223.6%up Benchmark median 1.9% | $3.0923.6%up Benchmark median 1.5% | $2.5018.5%up Benchmark median 34.8% | 12.9% Benchmark median 5.6% |
Balance Sheet
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Total Assets | $10.15B13.1%up Benchmark median 5.6% | $8.97B58.3%up Benchmark median 3.4% | $5.67B10.4%up Benchmark median 4.1% | $5.14B17.1%up Benchmark median 2.2% | $4.39B11.0%up Benchmark median 6.7% | 23.3% Benchmark median 4.7% |
| Total Liabilities Median of 357 / 498 | — | — | — | — | — | — Benchmark median 4.4% |
| Stockholders' Equity | $5.47B17.1%up Benchmark median 6.8% | $4.67B37.3%up Benchmark median 5.4% | $3.40B24.0%up Benchmark median 7.3% | $2.75B0.2%up Benchmark median 2.5% | $2.74B9.9%up Benchmark median 9.0% | 18.9% Benchmark median 6.1% |
| Cash & Equivalents | $3.00B13.5%up Benchmark median 5.2% | $2.64B162.3%up Benchmark median 1.9% | $1.01B14.3%up Benchmark median 6.7% | $0.88B19.0%down Benchmark median -8.6% | $1.09B17.3%up Benchmark median -2.9% | 28.8% Benchmark median 2.0% |
| Total Debt | — | — | — | — | — | — Benchmark median 4.3% |
Cash Flow Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.73B37.1%up Benchmark median 6.3% | $1.26B6.6%down Benchmark median 4.8% | $1.35B8.6%up Benchmark median 9.9% | $1.24B12.8%up Benchmark median -0.7% | $1.10B21.7%up Benchmark median 10.7% | 11.9% Benchmark median 7.0% |
| Capital Expenditures | $141.87M0.5%down Benchmark median 5.4% | $142.54M39.3%up Benchmark median 2.8% | $102.34M16.9%down Benchmark median 11.3% | $123.22M88.7%up Benchmark median 14.0% | $65.30M31.1%down Benchmark median 8.1% | 21.4% Benchmark median 9.0% |
| Free Cash Flow Median of 378 / 498 | $1.59B41.9%up Benchmark median 7.3% | $1.12B10.3%down Benchmark median 6.1% | $1.25B11.5%up Benchmark median 8.8% | $1.12B8.0%up Benchmark median -11.3% | $1.04B27.8%up Benchmark median 10.2% | 11.3% Benchmark median 4.9% |
n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.
Benchmark median = median of the companies in the benchmark universe on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-27. This compares reported figures, not share-price returns. Methodology
Ratios & valuation
FY2025Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.
Valuation · Earnings yield
What a dollar of market value earned
1.3%
Wall Street
on net earnings
FY2024 1.3%
1.9%
Value investor
on free cash flow
FY2024 1.4%
Gap +0.6 pts: Value-investor figure 0.6 points higher
How it’s calculated
Wall Street · on net earnings
Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)
pe_ratio (ratio table)
P/E 77.0×Value investor · on free cash flow
(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)
free cash flow ÷ market cap
Valuation · Book yield
Net assets behind a dollar of market value
6.4%
Wall Street
on book equity
FY2024 5.7%
2.3%
Value investor
on tangible book
FY2024 2.1%
Gap −4.1 pts: Value-investor figure 4.1 points lower
How it’s calculated
Wall Street · on book equity
Book value of equity ÷ market capitalisation (1 ÷ P/B)
pb_ratio (ratio table)
P/B 15.6×Value investor · on tangible book
Tangible book value (equity less goodwill and intangibles) ÷ market capitalisation
tangible_book_value_per_share ÷ (pb_ratio × book_value_per_share)
Quality · Return on capital
Profit earned on the money in the business
21.9%
Wall Street
ROE: net income ÷ equity
FY2024 26.1%
20.3%
Value investor
ROIC: after-tax operating profit ÷ invested capital
FY2024 21.3%
Gap −1.6 pts: Value-investor figure 1.6 points lower
How it’s calculated
Wall Street · ROE: net income ÷ equity
Net income ÷ average stockholders' equity (start and end of year), including noncontrolling interests. Buybacks shrink equity and lift it.
return_on_equity (ratio table)
Value investor · ROIC: after-tax operating profit ÷ invested capital
Operating profit after tax ÷ invested capital (total assets − cash − non-interest-bearing current liabilities), so leverage cannot flatter it
roic (ratio table)
Quality · Cash margin
Cash profit kept from each dollar of sales
32.5%
Wall Street
EBITDA margin
FY2024 33.3%
30.0%
Value investor
Free-cash-flow margin
FY2024 24.1%
Gap −2.5 pts: Value-investor figure 2.5 points lower
How it’s calculated
Wall Street · EBITDA margin
EBITDA ÷ revenue
ebitda ÷ revenue
Value investor · Free-cash-flow margin
(Operating cash flow − capital expenditures) ÷ revenue: taxes, interest, working capital and capex all paid
free cash flow ÷ revenue
Balance sheet · Liquidity
Short-term assets per dollar of bills due within a year
2.86×
Wall Street
Current ratio
FY2024 2.93×
2.67×
Value investor
Quick ratio, inventory excluded
FY2024 2.74×
Gap −0.19×: Value-investor figure 0.19 lower
How it’s calculated
Wall Street · Current ratio
Current assets ÷ current liabilities
current_ratio (ratio table)
Value investor · Quick ratio, inventory excluded
(Current assets − inventory) ÷ current liabilities
quick_ratio (ratio table)
Balance sheet · Interest cover
How many times earnings pay the year's interest
14.8×
Wall Street
EBITDA ÷ interest
FY2024 20.4×
12.8×
Value investor
EBIT ÷ interest
FY2024 17.8×
Gap −2.0×: Value-investor figure 2.0 lower
How it’s calculated
Wall Street · EBITDA ÷ interest
EBITDA ÷ interest expense
ebitda_interest_coverage (ratio table)
Value investor · EBIT ÷ interest
Operating income ÷ interest expense
interest_coverage (ratio table)
Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.
Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.
Smart money
Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.
Peers, filings & research
Research Reports
No published research on CDNS yet.
Reports appear here as analysts publish research on this company — built with Valuein's agentic workflows on data pinned to its SEC filing. Be the first: run equity_research_brief on CDNS and publish the result to your public profile.
Cite this page
Data as of Oct 31, 2026. Canonical address: https://valuein.biz/data/CDNS
Valuein. (2026, October 31). CADENCE DESIGN SYSTEMS INC (CDNS) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/CDNS
@misc{valuein_cdns_2026,
author = {{Valuein}},
title = {CADENCE DESIGN SYSTEMS INC (CDNS) financial statements, earnings power and smart-money summary},
year = {2026},
howpublished = {\url{https://valuein.biz/data/CDNS}},
note = {Data as of 2026-10-31; source: SEC EDGAR filings}
}10-K filed Feb 19, 2026 · accession 0000813672-26-000016
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