Stock CDNS CADENCE DESIGN SYSTEMS, INC.
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Financials Cadence Design Systems, Inc.

Equities

CDNS

US1273871087

Software

Market Closed - Nasdaq
Other stock markets
 04:00:00 2024-05-16 pm EDT 		5-day change 1st Jan Change
288.9 USD -1.42% Intraday chart for Cadence Design Systems, Inc. +1.28% +6.08%
May. 06 Declaration of Voting Results by Cadence Design Systems, Inc CI
Apr. 24 Cadence Design Systems, Inc. and TSMC Collaborate on Wide-Ranging Innovations to Transform System and Semiconductor Design CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 19,462 38,055 51,645 44,066 74,102 79,762 - -
Enterprise Value (EV) 1 19,103 37,823 50,904 43,932 73,742 78,600 77,358 75,514
P/E ratio 19.6 x 64.7 x 74.5 x 52 x 71.3 x 71.2 x 58.3 x 46.9 x
Yield - - - - - - - -
Capitalization / Revenue 8.33 x 14.2 x 17.3 x 12.4 x 18.1 x 17.4 x 15.3 x 13.5 x
EV / Revenue 8.18 x 14.1 x 17 x 12.3 x 18 x 17.1 x 14.9 x 12.7 x
EV / EBITDA 21.9 x 34.7 x 40.8 x 28 x 40.6 x 37.6 x 31.3 x 25.9 x
EV / FCF 29.2 x 46.7 x 49.2 x 39.3 x 59.1 x 61.6 x 44.7 x 33.4 x
FCF Yield 3.43% 2.14% 2.03% 2.55% 1.69% 1.62% 2.24% 3%
Price to Book 9.23 x 15.3 x 19 x 15.9 x 21.8 x 18.6 x 15.6 x 12.2 x
Nbr of stocks (in thousands) 280,593 278,931 277,141 274,316 272,062 272,134 - -
Reference price 2 69.36 136.4 186.4 160.6 272.4 293.1 293.1 293.1
Announcement Date 2/12/20 2/22/21 2/22/22 2/13/23 2/12/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 2,336 2,683 2,988 3,562 4,090 4,594 5,197 5,924
EBITDA 1 872.2 1,090 1,246 1,568 1,817 2,089 2,470 2,911
EBIT 1 749.4 944.1 1,104 1,436 1,672 1,959 2,305 2,700
Operating Margin 32.08% 35.19% 36.95% 40.33% 40.87% 42.65% 44.35% 45.58%
Earnings before Tax (EBT) 1 479 632.7 768.4 1,045 1,282 1,477 1,811 2,279
Net income 1 989 590.6 696 849 1,041 1,135 1,376 1,706
Net margin 42.33% 22.02% 23.29% 23.84% 25.46% 24.7% 26.47% 28.8%
EPS 2 3.530 2.110 2.500 3.090 3.820 4.114 5.027 6.244
Free Cash Flow 1 655 810.1 1,036 1,119 1,247 1,276 1,731 2,262
FCF margin 28.04% 30.2% 34.66% 31.41% 30.49% 27.77% 33.3% 38.19%
FCF Conversion (EBITDA) 75.1% 74.34% 83.1% 71.32% 68.63% 61.06% 70.07% 77.72%
FCF Conversion (Net income) 66.23% 137.16% 148.81% 131.77% 119.77% 112.39% 125.82% 132.59%
Dividend per Share 2 - - - - - - - -
Announcement Date 2/12/20 2/22/21 2/22/22 2/13/23 2/12/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 773 901.8 857.5 902.6 899.9 1,022 976.6 1,023 1,069 1,009 1,043 1,197 1,336 1,243 1,254
EBITDA 1 307.7 431.5 396.5 386.1 354.4 461.4 441.5 456.9 469 361.4 423.9 533 689.6 600.5 605.2
EBIT 1 272.3 396.7 363.6 355.6 320.5 427 405.4 420.6 430.5 321.8 407.4 528 640.2 546.3 536
Operating Margin 35.23% 43.99% 42.4% 39.4% 35.61% 41.79% 41.52% 41.11% 40.28% 31.89% 39.06% 44.12% 47.91% 43.97% 42.74%
Earnings before Tax (EBT) 1 194.1 309.9 272.6 252.3 210.5 321.5 298.4 300 362.1 310 275.5 391.2 495.6 389.2 430
Net income 1 176.6 235.3 186.9 186.3 240.4 241.8 221.1 254.3 323.9 247.6 213.9 303.2 381.1 308.9 301
Net margin 22.84% 26.1% 21.8% 20.64% 26.71% 23.67% 22.64% 24.86% 30.31% 24.54% 20.51% 25.33% 28.52% 24.86% 24%
EPS 2 0.6300 0.8500 0.6800 0.6800 0.8800 0.8900 0.8100 0.9300 1.190 0.9100 0.7591 1.078 1.367 1.150 1.097
Dividend per Share - - - - - - - - - - - - - - -
Announcement Date 2/22/22 4/25/22 7/25/22 10/24/22 2/13/23 4/24/23 7/24/23 10/23/23 2/12/24 4/22/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 359 232 741 134 359 1,162 2,405 4,248
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 655 810 1,036 1,119 1,247 1,276 1,731 2,262
ROE (net income / shareholders' equity) 36.4% 34% 35.1% 42.8% 45.7% 40.7% 45.9% 49.5%
ROA (Net income/ Total Assets) 21.2% 21.4% 22% 24.6% 26% 22.4% 23.6% 20.8%
Assets 1 4,664 2,760 3,159 3,445 4,005 5,073 5,834 8,203
Book Value Per Share 2 7.510 8.940 9.830 10.10 12.50 15.80 18.70 24.00
Cash Flow per Share 2 2.600 3.240 3.950 4.520 4.950 5.880 7.370 9.600
Capex 1 74.6 94.8 65.3 123 102 127 124 137
Capex / Sales 3.19% 3.53% 2.19% 3.46% 2.5% 2.76% 2.38% 2.31%
Announcement Date 2/12/20 2/22/21 2/22/22 2/13/23 2/12/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Cadence Design Systems, Inc.

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
16
Last Close Price
293.1 USD
Average target price
323.3 USD
Spread / Average Target
+10.29%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

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