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Synopsys, Inc.

SNPS Technology Software Infrastructure

Synopsys, Inc.’s revenue for fiscal 2025 (year ended October 2025) was $7.1 billion, up 15.1% from fiscal 2024.

Revenue
+42.4%
EPS
+88.7%
Free cash flow
+18.0%
Total debt
−30.0%

Quarter to July 2026, against a year earlier

441.93 21.02 −4.54%
Market cap
$84.4B
P/E
77.5×
Fwd P/E
114×
Dividend yield
—
F-score
3/9
Altman Z
2.81
Beneish M
−1.92
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2025

  • Design Automation:
  • Design IP:

Every year since 2009 →

Insider Decisions last twelve months

Sold, $m 55.50
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 1 2 — — — — 2 — 2 1 2 —
Insider Ownership 4.97%

Capital & Financial Ratios $m

Size
Market Cap 84,380.00
Revenue ttm 9,416.47
Net income ttm 1,075.74
Free cash flow ttm 2,747.71
Net debt Q 6,429.69
Valuation
P/E 77.53 (above 35: high)
Forward P/E 114.00 (above 35: high)
Price / sales 8.99
Forward P/S Powerpack
Price / FCF 30.81
Price / book 2.72
Financial health
Current ratio Q 1.34
Debt / equity Q 0.32 (at or below 0.5: strong)
Interest coverage Q 2.68
Growth
Revenue growth Q +42.37% (above 0%: growing)
Operating income growth Q +116.31% (above 0%: growing)
EPS, this year +17.44% (at or above 15%: strong)
EPS, next year A +24.19% (at or above 15%: strong)
Revenue, next year A +37.82% (at or above 10%: strong)
EPS, past 5 yrs +13.49%
EPS, next 5 yrs A +21.68% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 9.7×, against a ten-year median of 9.4×; over the ten years it ranged from 2.6× in 2016 to 17.6× in 2025.
P/E against its own 10 years 87.53%
10-year low 10-year high
P/S against its own 10 years 47.34%
10-year low 10-year high
P/B against its own 10 years 11.51%
10-year low 10-year high
EV/Sales against its own 10 years 53.58%
10-year low 10-year high
EV/FCF against its own 10 years 40.15%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,586 4,050 2,961 3,608
Receivables 857 934 1,505 1,319
Inventory 326 362 365 479
Other — — — —
3,431 6,470 6,012 6,644
2023 2024 2025 Q'26
Payables 1,060 1,164 1,326 1,481
ST’ Debt 86 — 22 1,020
Other — — — —
2,985 2,650 3,722 4,970

Compound Annual Growth %

10y 5y 3y
Sales 12.14% 13.87% 15.19%
Cash Flow 11.86% 8.90% (4.41%)
Earnings 19.42% 14.93% 10.60%
Book Value 24.63% 41.97% 72.48%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 3.67 Actual 3.91

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 2.79 2.90 Beat by 0.11
Q1 FY26 3.57 3.77 Beat by 0.20
Q2 FY26 3.17 3.35 Beat by 0.18
Q3 FY26 3.67 3.91 Beat by 0.24
Q4 FY26 4.12 — Reports 9 December 2026

EPS $

Jan Apr Jul Oct Year
’26 0.34 0.09 2.84 — —
’25 1.89 2.21 1.50 2.39 8.04
’24 2.89 1.88 2.61 7.14 14.51
’23 1.75 1.76 2.17 2.26 7.92
’22 1.99 1.89 1.43 0.99 6.29
’21 1.03 1.24 1.27 1.28 4.81
’20 0.67 0.71 1.62 1.26 4.27
Fiscal quarters ending in the months shown.

Revenue $m

Jan Apr Jul Oct Year
’26 2,409 2,276 2,477 — —
’25 1,455 1,604 1,740 2,255 7,054
’24 1,511 1,455 1,526 1,636 6,127
’23 1,361 1,263 1,354 1,340 5,318
’22 1,270 1,279 1,248 818 4,616
’21 970 1,024 1,057 1,152 4,204
’20 834 861 964 1,025 3,685
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Jan Apr Jul Oct Year
’26 857 629 813 — —
’25 (67) 275 671 640 1,519
’24 (88) 477 455 563 1,407
’23 115 703 560 326 1,703
’22 156 750 440 394 1,739
’21 174 526 422 371 1,493
’20 10 380 399 202 991
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Jan Apr Jul Oct Year
’26 822 575 746 — —
’25 (108) 294 632 605 1,423
’24 (128) 438 415 558 1,284
’23 71 654 513 273 1,511
’22 113 767 360 359 1,600
’21 145 510 399 343 1,397
’20 (46) 353 359 167 833
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 17.6% a year for ten years. It grew 4.8% a year over the last ten.

Implied
17.6%
10 years, reported
4.8%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to October

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jul ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 2,423 2,725 3,121 3,361 3,685 4,204 4,616 5,318 6,127 7,054 9,416 +12.6% 9,722 11,003 12,507 +21.0%
Gross margin, % 77.59 75.99 76.42 77.60 78.44 79.50 80.54 80.62 79.68 76.98 72.38 (0.6) pt
EBT 330 383 364 546 638 806 1,103 1,305 1,514 1,393 1,299 +17.4%
EBT margin, % 13.60 14.06 11.65 16.23 17.32 19.16 23.91 24.55 24.71 19.75 13.79 +6.2 pt
Net income 267 137 433 532 663 756 978 1,218 2,236 1,333 1,076 +19.6%
Per share, $
Per share, $ Revenue 15.94 18.11 20.94 22.42 24.38 27.53 30.17 34.95 40.01 43.03 49.16 +11.7%
Earnings 1.76 0.91 2.90 3.55 4.40 4.96 6.44 8.08 14.78 8.13 5.70 +18.5%
Cash flow 3.86 4.20 2.85 5.34 6.56 9.78 11.37 11.20 9.19 9.26 15.34 +10.2%
Capex (0.47) (0.49) (0.67) (1.35) (1.05) (0.63) (0.91) (1.26) (0.80) (0.58) (1.00) +2.4%
Free cash flow 3.39 3.71 2.17 3.99 5.51 9.15 10.46 9.93 8.38 8.68 14.35 +11.0%
Book value 21.02 21.80 23.38 27.28 32.50 34.70 36.08 40.44 58.73 172.78 162.64 +26.4%
Shares, m 152 150 149 150 151 153 153 152 153 164 184 +0.8%
Valuation, ×
Valuation, × P/E 33.70 96.13 30.77 38.13 49.15 66.50 45.43 58.10 34.80 56.24 77.53 50.9
P/S 3.72 4.78 4.28 6.05 8.55 11.98 9.70 13.43 12.84 10.55 8.99 8.6
P/B 2.82 3.97 3.83 4.98 6.64 9.50 8.11 11.61 8.75 2.63 2.72 6.3
EV/Sales 3.35 4.45 4.19 5.88 8.26 11.63 9.37 13.15 12.19 12.04 9.67 8.5
EV/FCF 15.76 21.67 40.38 33.03 25.46 35.00 27.05 46.27 58.19 59.66 33.15 36.2
Cash, $m
Cash, $m Operating cash flow 587 632 424 801 991 1,493 1,739 1,703 1,407 1,519 2,938 +11.1%
Capex (71) (74) (100) (202) (159) (96) (139) (192) (123) (95) (191) +3.3%
Free cash flow 516 559 324 598 833 1,397 1,600 1,511 1,284 1,423 2,748 +11.9%
Balance, $m
Balance, $m Working capital 2 68 (559) (14) 409 395 238 445 3,820 2,290 1,674 +118.8%
Net debt (912) (904) (254) (591) (1,108) (1,481) (1,491) (1,482) (4,035) 10,524 6,430 n/m
Shareholders’ equity 3,195 3,280 3,485 4,089 4,912 5,299 5,521 6,153 8,993 28,327 31,151 +27.4%
Returns, %
Returns, % ROA 5.19 2.57 7.49 8.48 9.20 9.03 10.84 12.45 19.34 4.35 2.24 (0.8) pt
ROIC 8.69 9.15 6.97 9.30 10.19 12.03 17.82 17.03 17.09 1.47 1.33 (7.2) pt
ROE 8.43 4.22 12.79 14.06 14.76 14.84 18.20 21.07 29.89 7.14 3.66 (1.3) pt
People
People Employees 10,669 11,686 13,245 13,896 15,036 16,361 19,000 20,300 20,000 28,000 — +11.3%
Revenue/emp, $m 0.23 0.23 0.24 0.24 0.25 0.26 0.24 0.26 0.31 0.25 — +1.2%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Oct 2025 · latest quarter Jul 2026

Business profile

Updated

Synopsys is a silicon-to-systems engineering software company. It supplies tools used to design, test and prepare integrated circuits for manufacture; pre-designed semiconductor intellectual-property blocks; engineering simulation and analysis software; and related design services, support and training. Its customers include chip designers, electronics systems companies, software developers and engineering teams across industries.

Its electronic design automation, or EDA, software helps engineers move through the steps of creating a chip: specifying an architecture, writing and verifying its logic, arranging its physical layout, checking that it can be manufactured, and testing hardware and software together. Its hardware-assisted verification products emulate or prototype chip designs before production.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by segment, and margins
Design Automation: 5,302 75.17%
Design IP: 1,752 24.83%
Gross margin 76.98%
Operating margin 12.97%
Pre-tax margin 19.75%

Revenue by segment since 2009

Synopsys, Inc. vs peers in Software Infrastructure (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
FTNT Fortinet, Inc. $90.0B 39.5× 42.2× +20.49% (above 0%: growing) +38.10% (above 0%: growing) +55.38% (above 0%: growing) 78.95% 33.89% Compare
NET Cloudflare, Inc. $87.1B — (loss-making) — (loss-making) +39.23% (above 0%: growing) n/m +9.48% (above 0%: growing) 71.21% (8.68%) Compare
SNPS Synopsys, Inc. $84.4B 77.5× 114× +42.37% (above 0%: growing) +88.74% (above 0%: growing) +18.01% (above 0%: growing) 72.57% 14.43%
XYZ Block, Inc. $50.8B 112× 44.1× +9.88% (above 0%: growing) +23.20% (above 0%: growing) −30.59% (below 0%: shrinking) 48.15% 6.38% Compare
NTAP NetApp, Inc. $33.3B 23.8× 25.7× +29.89% (above 0%: growing) +64.66% (above 0%: growing) −35.32% (below 0%: shrinking) 70.07% 23.90% Compare
ZS Zscaler, Inc. $33.2B — (loss-making) 8,874× +24.88% (above 0%: growing) n/m −64.66% (below 0%: shrinking) 76.73% (1.72%) Compare
NBIS Nebius Group N.V. $32.7B 466× 34.8× +454.04% (above 0%: growing) n/m −399.28% (below 0%: shrinking) 77.06% (30.21%) Compare
TWLO Twilio Inc. $31.1B 24.3× 22.8× +19.93% (above 0%: growing) +333.33% (above 0%: growing) +54.25% (above 0%: growing) 48.77% 9.53% Compare
OKTA Okta, Inc. $29.9B 102× 105× +10.58% (above 0%: growing) +76.32% (above 0%: growing) +38.89% (above 0%: growing) 79.63% 13.29% Compare
Median of peers $33.3B 70.6× 42.2× +22.69% +64.66% −10.55% 73.97% 7.96%

All 183 Software Infrastructure stocks →

From the latest earnings call

Updated

  • Sassine Ghazi said Synopsys expects double-digit organic EDA revenue growth in Q4 and for FY2026, citing AI-driven design complexity and hardware demand.
  • Ghazi said Multiphysics Fusion is expected to begin contributing to EDA growth in FY2027 as customers move early deployments into production.

Analyst rating changes each firm’s latest, last six months

Firm Date Action Rating Target
Morgan Stanley Oct 10, 2026 Downgrade — —
Rosenblatt Oct 5, 2026 Target raised Buy 575.00 → 620.00
KeyBanc Oct 5, 2026 Target raised Outperform 600.00 → 605.00
Wells Fargo Oct 5, 2026 Target raised Outperform 475.00 → 540.00
Bank of America Oct 1, 2026 Target raised — —

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 92.27%
Held by the ten largest 41.66%
Holder Shares Stake Change
Vanguard 18.97m 9.91% −168.99k
BlackRock 16.20m 8.46% +338.18k
State Street 9.07m 4.74% +174.85k
Invesco 6.03m 3.15% +116.50k
Fidelity (FMR) 5.99m 3.13% −2.38m
UBS 5.49m 2.87% +1.37m
Assenagon Asset Management S.A. 4.91m 2.56% +3.15m
NVIDIA CORP 4.82m 2.52% 0.00
Geode Capital Management 4.51m 2.36% −54.07k
Morgan Stanley 3.77m 1.97% −147.22k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 19 February 2026

Ownership

Directors and executive officers, together less than 1%
Entities associated with The Vanguard Group, Inc. 7.10% of the votes
Entities associated with BlackRock, Inc. 6.20% of the votes
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Synopsys, Inc. (SNPS) Latest News

4 Nov

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27 Oct

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26 Oct

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13 Oct

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SNPS metrics, ten years each

stockrow.com/SNPS · Data as of Jul 31, 2026 · For information only; not investment advice. · © 2026 stockrow.com