CADENCE DESIGN SYSTEMS INC

Listed Company

CDNSCIK 0000813672NasdaqLarge AcceleratedServices-Prepackaged SoftwareDelawareFY ends Dec 31

Period

FY 2025

Revenue

$5.30B

Net Income

$1.11B

Total Assets

$10.15B

Equity

$5.47B

Shares Out

272.65M

Op. Cash Flow

$1.73B

Business

CADENCE DESIGN SYSTEMS INC develops computational, AI-driven software, accelerated hardware, and intellectual property solutions that enable engineers and scientists to design, verify and analyze complex semiconductors and electronic systems. It offers Core EDA tools, semiconductor IP (including controllers, interfaces and Tensilica DSPs), system design and analysis software (multiphysics, PCB, packaging, CFD), hardware acceleration and prototyping platforms, cloud access, and related design, education and engineering services. Its business is organized around Core EDA, Semiconductor IP, and System Design and Analysis product categories along with services and cloud offerings. Cadence serves semiconductor companies and systems manufacturers across multiple industries worldwide through a direct sales force, value-added resellers, subsidiaries, third-party distributors and cloud-based delivery.

Summary from filing dated 2025-02-21

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue	5,297	4,641	4,090	3,562	2,988
Marketing and sales	803	757	690	604	560
Research and development	1,769	1,549	1,442	1,252	1,134
General and administrative	313	274	242	242	189
Amortization of acquired intangibles	40	30	18	18	20
Loss related to contingent liability	129	8	0	—	—
Restructuring	29	24	11	55,000	−1
Total costs and expenses	3,805	3,291	2,839	2,488	2,209
Income from operations	1,492	1,351	1,251	1,074	779
Interest expense	−117	−76	−36	−23	−17
Other income, net	147	121	67	−5	6
Income before provision for income taxes	1,522	1,396	1,282	1,045	768
Provision for income taxes	413	340	241	196	72
Net income	1,109	1,055	1,041	849	696
Net income per share - basic (in usd per share)	4.09	3.89	3.86	3.13	2.54
Net income per share - diluted (in usd per share)	4.06	3.85	3.82	3.09	2.5
Weighted average common shares outstanding - basic (shares)	271	271	269	271	274
Weighted average common shares outstanding - diluted (shares)	273	274	273	275	279

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	3,001	2,644	1,008	882	1,089
Receivables, net	945	680	489	487	338
Inventories	304	258	182	128	116
Prepaid expenses and other	420	434	297	210	174
Total current assets	4,670	4,016	1,976	1,707	1,716
Property, plant and equipment, net	517	458	403	371	306
Goodwill	2,749	2,379	1,536	1,374	928
Acquired intangibles, net	718	595	337	355	233
Deferred taxes	918	982	880	854	764
Other assets	581	545	537	476	439
Total assets	10,153	8,974	5,669	5,137	4,386
Accounts payable and accrued liabilities	857	633	577	557	417
Current portion of deferred revenue	778	737	665	691	554
Total current liabilities	1,635	1,370	1,591	1,348	971
Long-term portion of deferred revenue	156	115	99	92	101
Long-term debt	2,480	2,476	300	648	348
Other long-term liabilities	408	339	276	305	226
Total long-term liabilities	3,044	2,931	674	1,044	674
Commitments and contingencies	—	—	—	—	—
Preferred stock $0.01 par value; authorized 400 shares, none issued or outstanding	0	0	0	0	0
Common stock $0.01 par value; authorized 600,000 shares; issued and outstanding shares: 271,799 and 273,851, respectively	4,719	4,182	3,167	2,766	2,468
Treasury stock, at cost; 59,101 shares and 57,049 shares, respectively	−6,344	−5,310	−4,604	−3,824	−2,740
Retained earnings	7,101	5,992	4,936	3,895	3,046
Accumulated other comprehensive loss	−2	−190	−95	−92	−33
Total stockholders equity	5,474	4,674	3,404	2,745	2,741
Total liabilities and stockholders equity	10,153	8,974	5,669	5,137	4,386

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	228	197	145	132	142
Stock-based compensation	455	391	326	270	210
Gain on divestitures and investments, net	−69	−50	−35	5	−580,000
Deferred income taxes	66	−129	−37	−108	−43
ROU asset amortization and change in operating lease liabilities	6	−2	451,000	3	−12
Other non-cash items	7	6	7	371,000	427,000
Receivables	−275	−180	−12	−138	2
Inventories	−91	−83	−66	−23	−39
Prepaid expenses and other	43	−82	39	−39	−34
Other assets	−19	12	−46	−933,000	−7
Accounts payable and accrued liabilities	185	34	5	114	67
Deferred revenue	69	66	−22	131	101
Other long-term liabilities	14	24	2	44	16
Net cash provided by operating activities	1,729	1,261	1,349	1,242	1,101
Purchases of investments	−41	−5	−176	−1	0
Proceeds from the sale and maturity of investments	140	48	65	366,000	128,000
Proceeds from the sale of IP and other assets	12	0	0	—	—
Purchases of property, plant and equipment	−142	−143	−102	−123	−65
Purchases of intangible assets	0	0	−166,000	−1	−2
Cash paid in business combinations, net of cash acquired	−430	−738	−198	−614	−226
Net cash used for investing activities	−461	−837	−412	−739	−293
Proceeds from revolving credit facility	0	0	50	585	0
Payments on revolving credit facility	0	0	−150	−485	0
Proceeds from the issuance of debt	0	3,197	0	300	0
Payments of debt	0	−1,350	0	0	—
Payments of debt issuance costs	0	−24	0	−425,000	−1
Proceeds from issuance of common stock	146	204	133	105	88
Stock received for payment of employee taxes on vesting of restricted stock	−170	−238	−136	−112	−118
Payments for repurchases of common stock	−925	−550	−700	−1,050	−612
Net cash provided by (used for) financing activities	−949	1,239	−804	−657	−644
Effect of exchange rate changes on cash and cash equivalents	38	−27	−8	−53	−4
Increase in cash and cash equivalents	357	1,636	126	−207	161
Cash paid for interest	112	43	35	21	16

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro