CDNS financial statements

The full income statement, balance sheet, and cash-flow statement for Cadence Design Systems Inc. (CDNS), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-03 272.1M2024-06 273.8M2024-09 274.3M2024-12 274.1M2025-03 273.0M2025-06 272.5M2025-09 272.2M2025-12 272.7M2026-03 275.8M+1.4% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofJan 1 ’22	as ofJan 2 ’21
Revenue	5.30B YoY+14.1%	4.64B YoY+13.5%	4.09B YoY+14.8%	3.56B YoY+19.2%	2.99B YoY+11.4%	2.68B YoY+14.8%
Selling, general & administrative	313M YoY+14.4%	274M YoY+13.0%	242M YoY+0.1%	242M YoY+28.1%	189M YoY+22.4%	154M YoY+10.5%
General & administrative	313M YoY+14.4%	274M YoY+13.0%	242M YoY+0.1%	242M YoY+28.1%	189M YoY+22.4%	154M YoY+10.5%
Selling & marketing	803M YoY+6.0%	757M YoY+9.7%	690M YoY+14.2%	604M YoY+7.8%	560M YoY+8.5%	516M YoY+7.2%
Restructuring	29.2M YoY+22.8%	23.8M YoY+115.8%	11.0M YoY+19923.6%	55.0K YoY+105.2%	-1.05M YoY-111.4%	9.21M YoY+6.9%
Amortization of intangibles	39.9M YoY+31.5%	30.4M YoY+67.2%	18.2M YoY-1.7%	18.5M YoY-6.0%	19.6M YoY+9.1%	18.0M YoY+48.5%
Provision for credit losses	829K YoY-60.1%	2.08M YoY-37.5%	3.33M YoY+1529.9%	204K YoY-61.1%	525K YoY-67.8%	1.63M YoY+157.6%
Operating income	1.49B YoY+10.5%	1.35B YoY+8.0%	1.25B YoY+16.5%	1.07B YoY+37.8%	779M YoY+20.7%	646M YoY+31.3%
Interest expense	117M YoY+53.3%	76.0M YoY+110.0%	36.2M YoY+57.8%	22.9M YoY+35.1%	17.0M YoY-18.2%	20.7M YoY+10.2%
Interest & investment income	102M YoY+62.6%	62.5M YoY+110.8%	29.6M YoY+193.5%	10.1M YoY+283.4%	2.63M YoY-31.0%	3.82M YoY-59.9%
Other non-operating income	147M YoY+21.1%	121M YoY+81.0%	66.9M YoY+1341.2%	-5.39M YoY-185.2%	6.33M YoY-20.4%	7.95M YoY+32.4%
Equity-method income	—	—	2.70M YoY-25.0%	3.60M YoY+227.3%	1.10M YoY+123.9%	-4.60M YoY+33.3%
Gain (loss) on equity securities	57.8M YoY+16.4%	49.7M YoY+43.3%	34.7M YoY+749.4%	-5.34M	—	—
Pre-tax income	1.52B YoY+9.0%	1.40B YoY+8.9%	1.28B YoY+22.6%	1.05B YoY+36.0%	768M YoY+21.4%	633M YoY+32.1%
Income tax	413M YoY+21.4%	340M YoY+41.3%	241M YoY+22.6%	196M YoY+171.0%	72.5M YoY+72.1%	42.1M YoY+108.3%
Net income	1.11B YoY+5.1%	1.06B YoY+1.4%	1.04B YoY+22.6%	849M YoY+22.0%	696M YoY+17.8%	591M YoY-40.3%
	$4.06 YoY+5.5%	$3.85 YoY+0.8%	$3.82 YoY+23.6%	$3.09 YoY+23.6%	$2.50 YoY+18.5%	$2.11 YoY-40.2%
EPS (basic)	$4.09 YoY+5.1%	$3.89 YoY+0.8%	$3.86 YoY+23.3%	$3.13 YoY+23.2%	$2.54 YoY+17.6%	$2.16 YoY-40.3%
	271M YoY+0.0%	271M YoY+0.7%	269M YoY-0.7%	271M YoY-0.8%	274M YoY-0.1%	274M YoY+0.2%
	273M YoY-0.2%	274M YoY+0.4%	273M YoY-0.8%	275M YoY-1.4%	279M YoY-0.3%	280M YoY-0.3%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofJan 1 ’22	as ofJan 2 ’21
	4.67B YoY+16.3%	4.02B YoY+103.2%	1.98B YoY+15.8%	1.71B YoY-0.5%	1.72B YoY+16.0%	1.48B YoY+26.4%
Cash & equivalents	3.00B YoY+13.5%	2.64B YoY+162.3%	1.01B YoY+14.3%	882M YoY-19.0%	1.09B YoY+17.3%	928M YoY+31.7%
Short-term investments	154M YoY+9.7%	141M YoY+7.9%	130M YoY+2803.3%	4.49M	—	—
Accounts receivable	945M YoY+38.9%	680M YoY+39.1%	489M YoY+0.5%	487M YoY+44.2%	338M YoY-0.3%	338M YoY+11.1%
Inventory	304M YoY+17.8%	258M YoY+41.9%	182M YoY+41.9%	128M YoY+10.6%	116M YoY+52.4%	76.0M YoY+36.1%
Prepaid expenses	420M YoY-3.2%	434M YoY+46.0%	297M YoY+41.7%	210M YoY+20.9%	174M YoY+27.9%	136M YoY+30.8%
	10.2B YoY+13.1%	8.97B YoY+58.3%	5.67B YoY+10.4%	5.14B YoY+17.1%	4.39B YoY+11.0%	3.95B YoY+17.7%
Property, plant & equipment	517M YoY+12.8%	458M YoY+13.6%	403M YoY+8.6%	371M YoY+21.4%	306M YoY-1.7%	311M YoY+12.8%
Operating lease right-of-use	176M YoY+20.4%	146M YoY-3.1%	151M YoY-11.5%	170M YoY+30.9%	130M YoY-2.4%	133M YoY+32.9%
Goodwill	2.75B YoY+15.6%	2.38B YoY+54.9%	1.54B YoY+11.8%	1.37B YoY+48.0%	928M YoY+18.7%	782M YoY+18.2%
Intangible assets	718M YoY+20.8%	595M YoY+76.6%	337M YoY-5.0%	355M YoY+52.0%	233M YoY+10.8%	211M YoY+22.2%
Long-term investments	67.5M YoY-45.6%	124M	—	—	—	—
Deferred tax assets	918M YoY-6.5%	982M YoY+11.6%	880M YoY+3.1%	854M YoY+11.8%	764M YoY+4.3%	732M YoY-0.0%
Other non-current assets	338M YoY+23.1%	274M YoY+10.6%	248M YoY+33.5%	186M YoY+2.4%	182M YoY+6.5%	171M YoY+59.6%
	1.64B YoY+19.4%	1.37B YoY-13.9%	1.59B YoY+18.0%	1.35B YoY+38.8%	971M YoY+21.9%	797M YoY+18.5%
Accrued liabilities	857M YoY+35.4%	633M YoY+9.7%	577M YoY+3.5%	557M YoY+33.5%	417M YoY+19.2%	350M YoY+10.4%
Deferred revenue	778M YoY+5.6%	737M YoY+10.9%	665M YoY-3.7%	691M YoY+24.7%	554M YoY+24.0%	447M YoY+25.7%
Current lease liability	49.9M YoY+20.1%	41.6M YoY-0.2%	41.6M YoY+13.3%	36.7M YoY+45.4%	25.3M YoY-25.5%	33.9M YoY+32.7%
Deferred revenue (non-current)	156M YoY+35.5%	115M YoY+16.4%	98.9M YoY+8.1%	91.5M YoY-9.5%	101M YoY-5.5%	107M YoY+45.9%
Non-current lease liability	136M YoY+25.2%	109M YoY-5.6%	115M YoY-17.2%	139M YoY+30.1%	107M YoY-6.0%	114M YoY+34.4%
Operating lease liability (total)	186M YoY+23.7%	150M YoY-4.2%	157M YoY-10.8%	176M YoY+33.0%	132M YoY-10.4%	148M YoY+34.0%
Deferred tax liabilities	48.0M	—	—	—	—	—
Other non-current liabilities	408M YoY+20.1%	339M YoY+23.1%	276M YoY-9.5%	305M YoY+35.0%	226M YoY+9.0%	207M YoY+27.4%
Total non-current liabilities	3.04B YoY+3.9%	2.93B YoY+334.6%	674M YoY-35.4%	1.04B YoY+54.8%	674M YoY+2.0%	661M YoY+13.6%
	5.47B YoY+17.1%	4.67B YoY+37.3%	3.40B YoY+24.0%	2.75B YoY+0.2%	2.74B YoY+9.9%	2.49B YoY+18.6%
Preferred stock	0.00	0.00	0.00	0.00	0.00	0.00
Retained earnings	7.10B YoY+18.5%	5.99B YoY+21.4%	4.94B YoY+26.7%	3.90B YoY+27.9%	3.05B YoY+29.6%	2.35B YoY+33.4%
Treasury stock	6.34B YoY+19.5%	5.31B YoY+15.3%	4.60B YoY+20.4%	3.82B YoY+39.6%	2.74B YoY+33.2%	2.06B YoY+23.4%
Accumulated other comprehensive income	-1.80M YoY+99.1%	-190M YoY-101.0%	-94.8M YoY-3.4%	-91.6M YoY-175.1%	-33.3M YoY-91.2%	-17.4M YoY+52.8%
Total liabilities & equity	10.2B YoY+13.1%	8.97B YoY+58.3%	5.67B YoY+10.4%	5.14B YoY+17.1%	4.39B YoY+11.0%	3.95B YoY+17.7%
	272M YoY-0.7%	274M YoY+0.8%	272M YoY-0.4%	273M YoY-1.5%	277M YoY-0.8%	279M YoY-0.3%
	272M YoY-0.7%	274M YoY+0.8%	272M YoY-0.4%	273M YoY-1.5%	277M YoY-0.8%	279M YoY-0.3%
	273M YoY-0.5%	274M YoY+0.7%	272M YoY-0.3%	273M YoY-1.6%	277M YoY-0.6%	279M YoY-0.4%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofJan 1 ’22	as ofJan 2 ’21
	1.73B YoY+37.1%	1.26B YoY-6.6%	1.35B YoY+8.6%	1.24B YoY+12.8%	1.10B YoY+21.7%	905M YoY+24.0%
Depreciation & amortization	228M YoY+15.7%	197M YoY+35.5%	145M YoY+10.0%	132M YoY-7.2%	142M YoY-2.3%	146M YoY+18.6%
Intangible amortization	39.9M YoY+31.5%	30.4M YoY+67.2%	18.2M YoY-1.7%	18.5M YoY-6.0%	19.6M YoY+9.1%	18.0M YoY+48.5%
Share-based compensation	455M YoY+16.3%	391M YoY+20.1%	326M YoY+20.4%	270M YoY+28.7%	210M YoY+6.5%	197M YoY+8.7%
Deferred income taxes	66.0M YoY+151.3%	-129M YoY-252.6%	-36.5M YoY+66.1%	-108M YoY-149.2%	-43.2M YoY-65.3%	-26.1M YoY+95.5%
Change in inventory	91.0M YoY+10.0%	82.8M YoY+25.6%	65.9M YoY+185.6%	23.1M YoY-40.9%	39.0M YoY+51.9%	25.7M YoY-22.2%
	-461M YoY+45.0%	-837M YoY-103.1%	-412M YoY+44.2%	-739M YoY-152.1%	-293M YoY-0.3%	-292M YoY-176.4%
Capital expenditure	142M YoY-0.5%	143M YoY+39.3%	102M YoY-16.9%	123M YoY+88.7%	65.3M YoY-31.1%	94.8M YoY+27.1%
Free cash flow	1.59B YoY+41.9%	1.12B YoY-10.3%	1.25B YoY+11.5%	1.12B YoY+8.0%	1.04B YoY+27.8%	810M YoY+23.7%
Acquisitions	430M YoY-41.8%	738M YoY+271.9%	198M YoY-67.7%	614M YoY+171.3%	226M YoY+14.5%	198M YoY+58350.3%
Purchases of investments	40.9M YoY+720.9%	4.98M YoY-97.2%	176M YoY+17517.0%	1.00M	0.00	0.00 YoY-100.0%
	-949M YoY-176.6%	1.24B YoY+254.2%	-804M YoY-22.3%	-657M YoY-2.1%	-644M YoY-55.0%	-415M YoY+6.4%
Long-term debt issued	0.00	0.00	0.00	0.00	0.00	0.00
Long-term debt repaid	0.00	0.00	0.00	0.00	0.00	0.00
Common stock issued	146M YoY-28.6%	204M YoY+53.6%	133M YoY+26.2%	105M YoY+20.0%	87.8M YoY+17.3%	74.8M YoY+41.6%
Common stock repurchased	925M YoY+68.2%	550M YoY-21.4%	700M YoY-33.3%	1.05B YoY+71.5%	612M YoY+61.1%	380M YoY+24.1%
Dividends paid	0.00	0.00	0.00	0.00	0.00	0.00
FX effect on cash	38.0M YoY+241.8%	-26.8M YoY-256.0%	-7.53M YoY+85.8%	-52.8M YoY-1326.2%	-3.70M YoY-114.4%	25.7M YoY+418.1%
Net change in cash	357M YoY-78.2%	1.64B YoY+1200.1%	126M YoY+160.9%	-207M YoY-228.7%	161M YoY-28.1%	223M YoY+29.8%
Interest paid	112M YoY+159.0%	43.2M YoY+23.7%	34.9M YoY+65.4%	21.1M YoY+32.4%	15.9M YoY-19.4%	19.8M YoY+10.9%
Income taxes paid	247M YoY-51.5%	510M YoY+101.0%	254M YoY+8.8%	233M YoY+59.3%	146M YoY+38.2%	106M YoY+152.5%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofJan 1 ’22	as ofJan 2 ’21
Market cap	85.2B YoY+3.5%	82.4B YoY+11.1%	74.1B YoY+68.2%	44.1B YoY-14.7%	51.6B YoY+35.7%	38.1B YoY+92.9%
P/E	76.9× YoY-1.5%	78.0× YoY+0.8%	77.4× YoY+37.9%	56.1× YoY-24.7%	74.5× YoY+110.8%	35.3× YoY-23.3%
P/S	16.1× YoY-9.3%	17.7× YoY-6.1%	18.9× YoY+47.3%	12.8× YoY-26.1%	17.4× YoY+15.1%	15.1× YoY+76.4%
P/B	15.6× YoY-11.7%	17.6× YoY-25.9%	23.8× YoY+46.2%	16.3× YoY-17.1%	19.6× YoY+23.6%	15.9× YoY+19.2%
P/FCF	53.7× YoY-27.1%	73.7× YoY+22.8%	60.0× YoY+48.7%	40.3× YoY-26.6%	55.0× YoY+21.0%	45.4× YoY+46.2%
	1.3% YoY+1.5%	1.3% YoY-0.8%	1.3% YoY-27.5%	1.8% YoY+32.8%	1.3% YoY-52.6%	2.8% YoY+30.4%
	1.9% YoY+37.2%	1.4% YoY-18.6%	1.7% YoY-32.8%	2.5% YoY+36.3%	1.8% YoY-17.4%	2.2% YoY-31.6%
Source filing	10-K	10-K	10-K	10-K	10-K	10-K/A

About this data

Source: CDNS's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all CDNS filings on SEC EDGAR → Not investment advice.