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Friday 6 November 2026
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Cadence Design Systems, Inc.
CDNS Technology Software Application
Cadence Design Systems, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $5.3 billion, up 14.1% from fiscal 2024.
- Revenue
- +22.0%
- EPS
- −0.15%
- Free cash flow
- +30.7%
- Total debt
- +6.22%
Quarter to September 2026, against a year earlier
312.11
17.41
−5.28%
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
76.43 | 77.24 | 68.11 | 51.00 | 73.08 | 63.46 | 19.21 | 34.51 | 56.07 | 35.69 |
Piotroski F-Score |
5 | 4 | 7 | 6 | 7 | 6 | 7 | 7 | 8 | 6 |
P/S ratio |
16.01 | 17.56 | 17.32 | 12.16 | 17.06 | 13.92 | 8.11 | 5.57 | 5.89 | 3.97 |
Altman Z-Score |
13.22 | 13.67 | 22.18 | 13.46 | 21.03 | 17.63 | 11.16 | 8.00 | 6.39 | 4.59 |
P/FCF ratio |
53.45 | 72.90 | 56.81 | 38.74 | 49.21 | 46.10 | 28.93 | 21.91 | 27.71 | 18.39 |
Altman Z″-Score (non-manufacturers) |
6.46 | 6.26 | 6.35 | 5.54 | 6.32 | 5.97 | 5.43 | 3.89 | 3.00 | 1.94 |
Beneish M-Score |
(2.43) | (2.40) | (2.67) | (2.49) | (2.93) | (2.74) | (1.95) | (2.41) | (2.83) | (3.18) |
P/Operating CF |
153.23 | 184.63 | 260.28 | 164.22 | 236.12 | 275.56 | 118.97 | 90.24 | 90.19 | 36.62 |
P/B ratio |
15.49 | 17.44 | 20.80 | 15.77 | 18.60 | 14.98 | 9.01 | 9.24 | 11.57 | 9.72 |
Price to Tangible BV |
42.26 | 47.93 | 46.24 | 42.60 | 32.28 | 24.89 | 14.94 | 29.70 | 257.94 | 0.00 |
EV/Sales |
15.98 | 17.60 | 17.23 | 12.12 | 16.82 | 13.83 | 7.97 | 5.53 | 5.91 | 4.09 |
EV/EBITDA |
49.21 | 52.77 | 50.45 | 35.76 | 54.47 | 46.84 | 30.25 | 22.89 | 26.06 | 20.34 |
EV/Operating CF |
48.96 | 64.79 | 52.23 | 34.75 | 45.64 | 41.01 | 25.52 | 19.53 | 24.39 | 16.71 |
EV/FCF |
53.34 | 73.06 | 56.52 | 38.62 | 48.52 | 45.81 | 28.43 | 21.75 | 27.81 | 18.96 |
Quick Ratio |
2.41 | 2.43 | 0.94 | 1.02 | 1.47 | 1.59 | 1.50 | 1.17 | 1.37 | 1.07 |
Current Ratio |
2.86 | 2.93 | 1.24 | 1.27 | 1.77 | 1.86 | 1.74 | 1.34 | 1.53 | 1.20 |
Net Debt/EBITDA |
(0.30) | (0.11) | (0.26) | (0.11) | (0.78) | (0.69) | (0.54) | (0.17) | 0.09 | 0.62 |
Debt/Assets |
24.43% | 27.59% | 11.45% | 14.56% | 8.49% | 9.64% | 11.08% | 18.04% | 30.16% | 33.07% |
Debt/Equity |
0.45 | 0.53 | 0.19 | 0.27 | 0.14 | 0.15 | 0.18 | 0.35 | 0.74 | 0.93 |
Asset Turnover |
0.55 | 0.63 | 0.76 | 0.75 | 0.72 | 0.73 | 0.80 | 0.87 | 0.86 | 0.82 |
Operating CF/Net income |
1.56 | 1.19 | 1.30 | 1.46 | 1.58 | 1.53 | 0.74 | 1.75 | 2.31 | 2.19 |
Capex/Depreciation |
(0.62) | (0.72) | (0.71) | (0.93) | (0.47) | (0.65) | (0.60) | (0.51) | (0.50) | (0.44) |
Interest Coverage |
12.80 | 17.77 | 34.58 | 46.82 | 45.88 | 31.11 | 26.12 | 17.12 | 12.62 | 10.35 |
| 21.85% | 26.13% | 33.86% | 30.95% | 26.60% | 25.70% | 58.32% | 30.36% | 23.58% | 19.18% | |
| 11.59% | 14.42% | 19.27% | 17.83% | 16.70% | 16.16% | 33.95% | 14.15% | 9.04% | 9.14% | |
ROIC |
18.83% | 18.74% | 25.68% | 25.70% | 24.05% | 20.74% | 17.37% | 20.63% | 19.65% | 15.83% |
Return on Tangible Assets |
31.22% | 34.00% | 132.03% | 116.21% | 66.25% | 59.49% | 127.97% | 69.89% | 34.66% | 57.19% |
Average Days of Receivables |
65.12 | 53.51 | 43.66 | 49.88 | 41.24 | 46.05 | 47.58 | 50.72 | 35.77 | 31.59 |
Research and Development Expense of Revenue |
33.39% | 33.38% | 35.25% | 35.14% | 37.96% | 38.53% | 40.06% | 41.38% | 41.39% | 40.49% |
Selling, General and Administrative Expense of Revenue |
21.07% | 22.22% | 22.81% | 23.76% | 25.07% | 25.01% | 26.60% | 26.80% | 28.48% | 28.65% |
Intangible Assets out of Total Assets |
0.34 | 0.33 | 0.33 | 0.34 | 0.26 | 0.25 | 0.25 | 0.36 | 0.39 | 0.40 |
Share Based Compensation of Revenue |
8.59% | 8.43% | 7.96% | 7.59% | 7.03% | 7.35% | 7.77% | 7.84% | 6.69% | 6.01% |
Graham Net Nets |
0.00 | 0.00 | 0.00 | (0.02) | 0.00 | 0.00 | 0.00 | (0.02) | (0.04) | (0.09) |
Graham Number |
43.09 | 38.84 | 33.13 | 26.70 | 23.98 | 20.99 | 25.00 | 11.55 | 7.83 | 6.45 |
Earnings Yield |
1.31% | 1.29% | 1.47% | 1.96% | 1.37% | 1.58% | 5.20% | 2.90% | 1.78% | 2.80% |
Free Cash Flow Yield |
1.87% | 1.37% | 1.76% | 2.58% | 2.03% | 2.17% | 3.46% | 4.56% | 3.61% | 5.44% |
Revenue per Share |
19.52 | 17.11 | 15.18 | 13.13 | 10.93 | 9.80 | 8.55 | 7.81 | 7.14 | 6.38 |
Operating CF per Share |
6.37 | 4.65 | 5.01 | 4.58 | 4.03 | 3.31 | 2.67 | 2.21 | 1.73 | 1.56 |
Capex per Share |
(0.52) | (0.53) | (0.38) | (0.46) | (0.24) | (0.35) | (0.27) | (0.22) | (0.21) | (0.19) |
Free Cash Flow per Share |
5.85 | 4.12 | 4.63 | 4.12 | 3.78 | 2.96 | 2.40 | 1.98 | 1.52 | 1.38 |
Cash per Share |
11.06 | 9.75 | 3.74 | 3.25 | 3.98 | 3.39 | 2.58 | 1.95 | 2.53 | 1.65 |
Shareholders Equity per Share |
20.18 | 17.23 | 12.64 | 10.12 | 10.02 | 9.11 | 7.70 | 4.71 | 3.64 | 2.61 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
20.18 | 17.23 | 12.64 | 10.12 | 10.02 | 9.11 | 7.70 | 4.71 | 3.64 | 2.61 |
Free Cash Flow |
1,586.91 | 1,118.01 | 1,246.67 | 1,117.68 | 1,034.08 | 810.11 | 655.00 | 543.25 | 412.84 | 392.09 |
Working Capital |
3,034.38 | 2,645.97 | 385.35 | 359.07 | 744.54 | 681.78 | 496.95 | 242.11 | 337.59 | 116.47 |
Capital Expenditures |
(141.87) | (142.54) | (102.50) | (124.21) | (66.88) | (94.81) | (74.60) | (61.50) | (57.90) | (52.79) |
Net Current Asset Value |
(9.30) | (284.82) | (289.00) | (685.19) | 70.15 | 20.82 | (84.99) | (229.16) | (449.52) | (653.10) |
EV/EBIT |
56.73 | 60.46 | 56.31 | 40.20 | 64.50 | 57.49 | 37.86 | 29.82 | 35.45 | 30.36 |
Capex to Sales |
0.03 | 0.03 | 0.03 | 0.03 | 0.02 | 0.04 | 0.03 | 0.03 | 0.03 | 0.03 |
Price to Operating Income |
56.84 | 60.33 | 56.60 | 40.32 | 65.42 | 57.85 | 38.54 | 30.04 | 35.32 | 29.44 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.44 | 0.43 | 0.36 | 0.36 | 0.47 | 0.47 | 0.45 | 0.47 | 0.46 | 0.51 |
Cash ROIC |
14.48% | 11.42% | 24.63% | 25.54% | 24.61% | 21.31% | 20.60% | 23.96% | 17.15% | 20.60% |
Accounts Receivable Turnover |
6.52 | 7.94 | 8.38 | 8.64 | 8.84 | 8.34 | 7.77 | 8.77 | 11.18 | 11.28 |
Accounts Payable Turnover |
0.97 | 1.07 | 0.77 | 0.76 | 0.80 | 0.92 | 0.93 | 1.08 | 1.03 | 1.07 |
Inventory Turnover |
2.57 | 2.95 | 2.81 | 3.05 | 3.20 | 4.64 | 6.34 | 8.43 | 6.53 | 5.33 |
Average Days of Payables |
433.03 | 356.65 | 483.73 | 547.23 | 496.11 | 418.11 | 434.27 | 361.87 | 339.95 | 340.81 |
Days of Inventory on Hand |
153.40 | 145.27 | 152.41 | 125.72 | 137.58 | 90.75 | 76.47 | 39.73 | 51.06 | 56.17 |
Average Receivables |
812.70 | 584.84 | 487.97 | 412.15 | 338.04 | 321.52 | 300.81 | 243.75 | 173.80 | 161.01 |
Average Payables |
744.77 | 604.63 | 566.86 | 487.22 | 383.62 | 333.43 | 286.72 | 238.81 | 230.30 | 238.76 |
Average Inventory |
280.63 | 219.69 | 154.83 | 121.86 | 95.84 | 65.88 | 41.98 | 30.69 | 36.34 | 48.12 |
Average Assets |
9,563.82 | 7,321.99 | 5,403.28 | 4,761.69 | 4,168.54 | 3,654.01 | 2,912.94 | 2,443.68 | 2,257.81 | 2,221.21 |
Average Common Equity |
5,073.88 | 4,038.92 | 3,074.69 | 2,742.89 | 2,616.85 | 2,297.96 | 1,695.65 | 1,138.80 | 865.49 | 1,058.94 |
Columns are period end dates · fundamentals updated 2 Nov 2026