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NASDAQ NMS - GLOBAL MARKET · Technology · CIK 0000813672
$309.65
-5.04% · delayed ~15 min
Last price from Oct 22, 2026
$84.16B market value
From CADENCE DESIGN SYSTEMS INC's FY2025 10-K, filed Feb 19, 2026 · read the filing
CADENCE DESIGN SYSTEMS makes and sells software and computing services. It took in $5.30B last year, which makes it a mid-sized company. Of every dollar it sells, about 21 cents is left as profit.
The financial picture is led by profitability and debt, with growth worth watching.
A conclusion from the filings, not a recommendation. Detailed figures and supporting evidence appear in their dedicated sections below.
Financial health
Strong finances across the board.
From CADENCE DESIGN SYSTEMS INC's FY2025 annual filing · share price scored separately
Largest year-over-year changes in FY2025
Free cash flow
$1.12B → $1.59B
Revenue
$4.64B → $5.30B
Operating income
$1.35B → $1.49B
Profit
$1.06B → $1.11B
Measured against FY2024, from the 10-K filed Feb 19, 2026
Improved: +41.9%
$1.12B to $1.59BCritical
Why it matters: Cash left after paying for the plant that produced it — the money genuinely available for dividends, buybacks or paying down debt. Harder to flatter than profit.
How the latest move compares (quote delayed ~15 min), and what was published around it
CDNS fell 5.04% on the latest quote. The average Technology company tracked here moved −1.23%, and the S&P 500 −1.04%. That is 3.8 points below its sector and 4.0 points below the market.
Expectations
Not from the filings — what other people are betting on, and what the price already assumes.
The growth rate someone buying today is paying for, against what the company has delivered
At today's price, the market is paying for free cash flow to grow by about 18% a year for the next 10 years. Over the last 12 years it grew by about 14% a year.
The essentials
Each answered from the filings, with the numbers behind it.
Yes. It keeps about 21 cents of every dollar of sales as profit, earning $1.11B last year.
Slowly. Sales grew 14.1% last year.
It does not appear so. For every $1 it owes, it owns $2.17 in assets.
Core operating and valuation reference metrics
Income
This company pays no dividend. It keeps its profits and reinvests them in the business instead, so any return would have to come from the share price.
Figures from the FY2025 annual filing
Last year it earned $1.11B and generated $1.73B of cash from operations.
Reported annual figures
As reported to the SEC, in USD. Hover or show sources to see where each figure came from.
| Income statement | FY202510-K · Feb 19, 2026Filing for FY2025 | FY202410-K · Feb 19, 2026Filing for FY2024 | FY202310-K · Feb 14, 2024Filing for FY2023 | FY202210-K · Feb 13, 2023Filing for FY2022 | FY202110-K · Feb 22, 2021Filing for FY2021 | ChangeFY2025 vs FY2024 |
|---|---|---|---|---|---|---|
| RevenueWhat is this? | $5.30B | $4.64B | $4.09B | $3.56B | $2.68B | +14.1% |
| Selling, general and administrative | $313.4M | $274.0M | $242.4M | $242.1M | $154.4M | +14.4% |
| Operating income | $1.49B | $1.35B | $1.25B | $1.07B | $645.6M | +10.5% |
| Operating marginOperating income ÷ revenueWhat is this? | 28.2% | 29.1% | 30.6% | 30.1% | 24.1% | −0.9 pts |
| Interest expense | $116.5M | $76.0M | $36.2M | $22.9M | $20.7M | +53.3% |
| Income before tax | $1.52B | $1.40B | $1.28B | $1.05B | $632.7M | +9.0% |
| Net income | $1.11B | $1.06B | $1.04B | $849.0M | $590.6M | +5.1% |
| Net marginNet income ÷ revenueWhat is this? | 20.9% | 22.7% | 25.5% | 23.8% | 22.0% | −1.8 pts |
| Earnings per shareNet income ÷ shares outstanding at the period end — close to, but not the same as, the reported EPSWhat is this? | $4.08 | $3.85 | $3.83 | $3.11 | $2.12 | +5.9% |
† calculated from other reported figures, such as total liabilities as assets minus equity.
This company's latest filing beside its peers' stored scores
| Company | Health | F-Score | Revenue growth | Profit margin | P/E | Debt to equity |
|---|---|---|---|---|---|---|
| CDNSCADENCE DESIGN SYSTEMS INC · this page | 8.7/10 | 6/7 | 14.1% | 20.9% | 75.90x | 0.85x |
Insider activity, ownership stakes and what's coming — straight from EDGAR, before any article is written about it
Officers, directors and major shareholders must report within two business days of a trade.
Exercised stock options — 1,000 shares at $138.02 ($138.0K)
Holds 121,612 shares after this filing.
Sold on the open market — 2,000 shares at $324.13 ($648.3K)
Holds 119,612 shares after this filing.
20 recent filings, newest first. Each is labelled from its form and item numbers, not from its wording.
Quarterly report on Form 10-Q
Read the filingPublished results
Read the filingWrite down why you are following CADENCE DESIGN SYSTEMS INC, what has to go right and what would change your mind, then see each new annual report measured against it. Sign in to start one.
Go deeper
Every figure above traces back to a filing in the timeline, each linked to the document itself.
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Every company's figures are checked for internal consistency: the balance sheet adding up, figures sharing one currency, cash flow and share counts within plausible ranges, and how recent the latest annual report is. Nothing here changes a figure.
Financial figures are from CDNS's 10-K for fiscal year 2025 (period ending 2025-12-31, filed Feb 19, 2026), reported under the US GAAP taxonomy. View the source filing. Total liabilities were not tagged directly and were calculated as assets minus equity.
3 of 4 scored areas had enough reported figures to judge
The score averages profitability, growth, debt and accounting. Accounting had too few reported figures and is left out of the average rather than counted as a weakness, so a company is never marked down for a figure it did not publish. Cash generation is shown for context and already feeds profitability. Valuation is scored separately, because a share price says nothing about whether the business is sound. 7 of the 9 Piotroski checks could be evaluated. How the score works
Each year scored only from its annual report as it was first filed
| Fiscal year | Health | F-Score | Scored from |
|---|---|---|---|
| FY2025 | 8.7 | 6/7 | 10-K, filed Feb 19, 2026 |
| FY2024 | 8.7 | 6/7 | 10-K, filed Feb 21, 2025 |
| FY2023 | 8.7 | 6/7 | 10-K, filed Feb 14, 2024 |
| FY2022 | 10.0 | 6/7 | 10-K, filed Feb 13, 2023 |
| FY2021 | 10.0 | 3/3 | 10-K, filed Feb 22, 2021 |
| FY2019 | 8.7 | 5/7 | 10-K, filed Feb 24, 2020 |
A later restatement never reaches back into an earlier year, and every year is scored without a share price, so the latest point can differ a little from the headline score, which uses today's price.
Every check behind the three models, and what each one tests
6 of 7 checks passed
Nine yes-or-no tests of whether this year's finances improved on last year's. 2 could not be evaluated and are excluded from the total rather than counted as failures.
6.46
In the safe zone
For this model, above 2.6 is safe and below 1.1 is distress.
Distance from bankruptcy, from a model fitted on companies that did and did not go bust. It describes a balance sheet's shape today; it does not forecast a failure.
not reported — This company has not reported enough of the required figures to calculate this score.
This company has not reported enough of the required figures to calculate this score.
Screens eight accounting ratios for the pattern earnings manipulators tend to leave. A flag is a reason to read the filing closely, never evidence of wrongdoing.
Every figure above comes from the FY2025 filing as filed with the SEC.
Improved: +14.1%
$4.64B to $5.30BNotable
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Improved: +10.5%
$1.35B to $1.49BNotable
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Improved: +5.1%
$1.06B to $1.11BNotable
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Deteriorated: −1.8 pts
22.7% to 20.9%Notable
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Improved: +5.9%
$3.85 to $4.08Notable
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Improved: +13.5%
$2.64B to $3.00BNotable
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Q1 FY2026 against Q1 FY2025, from the 10-Q filed May 1, 2026 — read it.
Deteriorated: -49.4%
$2.78B to $1.41BCritical
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Changed: +111.7%
$23.1M to $48.8MCritical
Why it matters: Neither good nor bad on its own. Heavy spending is a company building capacity or a company struggling to stand still, and the two look identical in this figure.
Improved: +18.7%
$1.24B to $1.47BSignificant
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Improved: +19.3%
$361.5M to $431.3MSignificant
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Improved: +22.7%
$273.6M to $335.7MSignificant
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Deteriorated: -33.8%
$464.0M to $307.0MSignificant
Why it matters: Cash left after paying for the plant that produced it — the money genuinely available for dividends, buybacks or paying down debt. Harder to flatter than profit.
Improved: +21.5%
$1.00 to $1.22Significant
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Deteriorated: +1.0%
273.0M to 275.8MNotable
Why it matters: New shares divide the same company into more pieces, so each existing holding owns slightly less of it. Often pay for staff or an acquisition rather than anything wrong.
3 other measures barely moved. Figures compare the two most recent annual filings — read the latest one. Moves are graded on fixed lines — 5%, 15% and 40% for amounts, and 1, 3 and 8 points for margins — as notable, significant or critical. Nothing here reads the management commentary, which is where a company explains its own numbers.
These coincide with the move in time. None is presented as its cause: a price can move on news that names no company, on the wider market, or on trading that no document records.
Filter by minute, hour, day or week — or compare against peers
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Discounted at 8%–10% a year, with growth settling to 2.5% after 10 years. Those rates are ordinary choices, not measurements: across that range the assumed growth works out between 15% and 21%. This describes what the price implies — it is not a forecast, and not a view on whether the price is right.
Opinions from 31 analysts covering this company, as of . Their views, not this site's.
Of 31 analysts publishing on this company, 9 say strong buy, 20 say buy and 2 say hold. Analysts are paid to publish a view and are wrong often; the split above says how much they agree with each other, which is the part a single headline rating hides.
Published by Finnhub. Analyst coverage skews towards larger companies and towards optimism — sell ratings are rare across the whole market, so a company with none is ordinary rather than endorsed.
Measured on and published about a week later — this is a fortnightly snapshot, not a live position.
About 2.2% of this company's shares have been borrowed and sold by people expecting to buy them back cheaper. That is a bet the price falls. Those people can be wrong, and when a heavily shorted share rises they have to buy it back, which pushes it up further.
Collected by FINRA from broker-dealers twice a month. It counts positions, not intentions, and some of it is hedging rather than a directional bet against the company.
Nothing in this section is a figure this company reported about itself. These are expectations and positions — what the price implies, what analysts have published, what short sellers are betting, and what large funds held at the last count. WylthIQ reports them; it does not endorse them, does not forecast prices, and takes no view on whether any of them will turn out to be right.
The trailing P/E is 79.7x — a high multiple relative to the current trailing profit.
This company has not reported enough of the required figures to calculate this score.
| CRMSalesforce, Inc. |
|---|
| 9.0/10 |
| 7/9 |
| 9.6% |
| 18.0% |
| 31.18x |
| 0.90x |
| ADBEADOBE INC. | 9.0/10 | 7/9 | 10.5% | 30.0% | 15.67x | 1.54x |
|---|
| INTUINTUIT INC. | 8.7/10 | 7/8 | 13.9% | 21.3% | 20.86x | 0.94x |
|---|
| DDOGDatadog, Inc. | 6.0/10 | 5/8 | 27.7% | 3.1% | 830.87x | 0.78x |
|---|
| SNPSSYNOPSYS INC | 7.0/10 | 3/9 | 15.1% | 18.9% | 58.98x | 0.70x |
|---|
| Median of peers | 8.7/10 | — | 13.9% | 18.9% | 31.18x | 0.90x |
|---|
Peers come from the company's industry classification. A difference describes the companies; it does not rank them.
Sold on the open market — 1,250 shares at $350.07 ($437.6K)
Holds 39,544 shares after this filing.
Had shares withheld to cover taxes — 1,181 shares at $280.76 ($331.6K)
Holds 120,612 shares after this filing.
Had shares withheld to cover taxes — 1,433 shares at $280.76 ($402.3K)
Holds 79,459 shares after this filing.
Had shares withheld to cover taxes — 1,181 shares at $280.76 ($331.6K)
Holds 136,075 shares after this filing.
Had shares withheld to cover taxes — 3,779 shares at $280.76 ($1.1M)
Holds 247,201 shares after this filing.
Had shares withheld to cover taxes — 937 shares at $280.76 ($263.1K)
Holds 30,783 shares after this filing.
Had shares withheld to cover taxes — 793 shares at $273.96 ($217.3K)
Holds 137,256 shares after this filing.
Notice filed ahead of a planned sale — the sale itself has not necessarily happened yet.
Filed notice to sell 1,250 shares ($437.6K) on or after .
Shares originally obtained via Restricted Stock Lapse.
Filed notice to sell 6,000 shares ($1.7M) on or after .
Shares originally obtained via Exercise of Stock Options.
Filed notice to sell 180 shares ($285.5K) on or after .
Shares originally obtained via RSU Vest.
Filed notice to sell 1,250 shares ($401.1K) on or after .
Shares originally obtained via Restricted Stock Lapse.
Not investment advice, and not a signal to act on by itself — a filing says what happened, not why, and insiders trade for ordinary reasons having nothing to do with where they think the company is headed.
Had a director or senior officer leave or join · Held a shareholder vote
Had a director or senior officer leave or join
Read the filingQuarterly report for Q1 FY2026
Revenue +18.7% · Cash -49.4% · Capital spending +111.7% — against Q1 FY2025
Read the filingPublished results
Read the filingProxy statement for a shareholder meeting
Read the filingSold shares outside a public offering
Read the filingAnnual report for FY2025
Revenue +14.1% · Profit margin −1.8 pts · Free cash flow +41.9% — against FY2024
Read the filingPublished results
Read the filingHad a director or senior officer leave or join
Read the filingQuarterly report for Q3 FY2025
Revenue +10.1% · Operating margin +3.0 pts · Operating income +21.5% — against Q3 FY2024
Read the filingPublished results
Read the filingSigned a material agreement · Sold shares outside a public offering
Read the filingQuarterly report for Q2 FY2025
Revenue +20.2% · Operating margin −8.8 pts · Profit margin −9.1 pts — against Q2 FY2024
Read the filingSigned a material agreement
Read the filingPublished results
Read the filingReported another event
Read the filingReported another event
Read the filingHeld a shareholder vote · Reported another event
Read the filingCadence Design Systems (CDNS) Stock Sinks As Market Gains: Here's Why
Yahoo Finance ·
Primary sources and further research