CDNSCADENCE DESIGN SYSTEMS INC
Services-Prepackaged Software
- Revenue
- $5.3B
- 14% YoY
- Operating margin
- 28.2%
- 3.2% YoY
- EBITDA
- $1.7B
- 11% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- 0.6×
- $1.0B net debt
- AI in 10-K
- —
Red flags 1 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear156% of net incomeCash flow under 80% of net income
- Dilutive SBCClear9% of revenueOver 10% of revenue
- Payouts exceed cash flowClear54% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyFired40% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $2.7B | $3.6B | $4.1B | $4.6B | $5.3B | 14% |
| Operating income | $646M | $1.1B | $1.3B | $1.4B | $1.5B | 10% |
| Net income | $591M | $849M | $1.0B | $1.1B | $1.1B | 5.1% |
| Operating cash flow | $905M | $1.2B | $1.3B | $1.3B | $1.7B | 37% |
| Capex | $95M | $123M | $102M | $143M | $142M | 0.5% |
| Stock-based comp | $197M | $270M | $326M | $391M | $455M | 16% |
| Buybacks | $380M | $1.1B | $700M | $550M | $925M | 68% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $2M · 7
- Net
- −$2M
Pay vs performance
No pay-versus-performance disclosure yet.