Cadence Design Systems (CDNS) financial statements
Cadence Design Systems reported revenue of $5.3B in fiscal 2025, up 12.6% a year over 9 years.
Net income was $1.1B and the operating margin 28.2%, against 13.5% in 2016.
Free cash flow was $1.6B, and the company returned $925M in net buybacks.
The diluted share count fell 6% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Cadence Design Systems's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.8B | $1.9B | $2.1B | $2.3B | $2.7B | $3.0B | $3.6B | $4.1B | $4.6B | $5.3B |
| Selling, general and admin | $520M | $553M | $573M | $621M | $671M | $749M | $846M | $933M | $1.0B | $1.1B |
| Operating income | $245M | $324M | $396M | $492M | $646M | $779M | $1.1B | $1.3B | $1.4B | $1.5B |
| Interest expense | $24M | $26M | $23M | $19M | $21M | $17M | $23M | $36M | $76M | $117M |
| Pre-tax income | $237M | $315M | $376M | $479M | $633M | $768M | $1.0B | $1.3B | $1.4B | $1.5B |
| Income tax | $34M | $111M | $31M | -$510M | $42M | $72M | $196M | $241M | $340M | $413M |
| Net income | $203M | $204M | $346M | $989M | $591M | $696M | $849M | $1.0B | $1.1B | $1.1B |
| EPS (diluted) | $0.70 | $0.73 | $1.23 | $3.53 | $2.11 | $2.50 | $3.09 | $3.82 | $3.85 | $4.06 |
| Diluted shares | 291M | 280M | 281M | 281M | 280M | 279M | 275M | 273M | 274M | 273M |
| Operating margin | 13.5% | 16.7% | 18.5% | 21.1% | 24.1% | 26.1% | 30.1% | 30.6% | 29.1% | 28.2% |
| Net margin | 11.2% | 10.5% | 16.2% | 42.3% | 22.0% | 23.3% | 23.8% | 25.5% | 22.7% | 20.9% |
Balance sheet
Fiscal years, from Cadence Design Systems's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $468M | $693M | $533M | $705M | $928M | $1.1B | $887M | $1.1B | $2.8B | $3.2B |
| Receivables | $157M | $190M | $297M | $305M | $338M | $338M | $487M | $489M | $680M | $945M |
| Inventory | $39M | $33M | $28M | $56M | $76M | $116M | $128M | $182M | $258M | $304M |
| Total current assets | $702M | $980M | $951M | $1.2B | $1.5B | $1.7B | $1.7B | $2.0B | $4.0B | $4.7B |
| Property, plant and equipment | $239M | $251M | $253M | $276M | $311M | $306M | $371M | $403M | $458M | $517M |
| Goodwill | $573M | $666M | $662M | $662M | $782M | $928M | $1.4B | $1.5B | $2.4B | $2.7B |
| Total assets | $2.1B | $2.4B | $2.5B | $3.4B | $4.0B | $4.4B | $5.1B | $5.7B | $9.0B | $10.2B |
| Total current liabilities | $586M | $642M | $709M | $672M | $797M | $971M | $1.3B | $1.6B | $1.4B | $1.6B |
| Total liabilities | $1.4B | $1.4B | $1.2B | $1.3B | $1.5B | $1.6B | $2.4B | $2.3B | $4.3B | $4.7B |
| Shareholders' equity | $742M | $989M | $1.3B | $2.1B | $2.5B | $2.7B | $2.7B | $3.4B | $4.7B | $5.5B |
| Net debt | -$465M | -$688M | -$533M | -$705M | -$928M | -$1.1B | -$882M | -$1.0B | -$2.6B | -$3.0B |
Cash flow
Fiscal years, from Cadence Design Systems's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $445M | $471M | $605M | $730M | $905M | $1.1B | $1.2B | $1.3B | $1.3B | $1.7B |
| Capital spending | $54M | $58M | $62M | $75M | $95M | $65M | $123M | $102M | $143M | $142M |
| Free cash flow | $391M | $413M | $543M | $655M | $810M | $1.0B | $1.1B | $1.2B | $1.1B | $1.6B |
| Stock-based compensation | $109M | $130M | $168M | $182M | $197M | $210M | $270M | $326M | $391M | $455M |
| Share buybacks (net) | -$960M | -$100M | -$250M | -$306M | -$380M | -$612M | -$1.1B | -$700M | -$550M | -$925M |
| Free cash flow margin | 21.5% | 21.2% | 25.4% | 28.0% | 30.2% | 34.7% | 31.4% | 30.5% | 24.1% | 30.0% |
Questions
What was Cadence Design Systems's revenue in 2025?
$5.3B in fiscal 2025, from its 10-K filing.
How much free cash flow does Cadence Design Systems generate?
$1.6B in fiscal 2025 (operating cash flow minus capital spending).
From Cadence Design Systems's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.