{ "ok": true, "cik": "813672", "ticker": "CDNS", "name": "CADENCE DESIGN SYSTEMS, INC.", "filings": [ { "form": "10-Q", "filed": "2026-07-29", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/813672/000081367226000092/0000813672-26-000092-index.htm" }, { "form": "8-K", "filed": "2026-07-27", "items": [ "2.02 Results of Operations and Financial Condition", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/813672/000081367226000089/0000813672-26-000089-index.htm" }, { "form": "8-K", "filed": "2026-05-12", "items": [ "5.02 Departure or Election of Directors; Appointment of Officers", "5.07 Submission of Matters to a Vote of Security Holders" ], "url": "https://www.sec.gov/Archives/edgar/data/813672/000081367226000067/0000813672-26-000067-index.htm" }, { "form": "10-Q", "filed": "2026-05-01", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/813672/000081367226000047/0000813672-26-000047-index.htm" }, { "form": "8-K", "filed": "2026-04-27", "items": [ "2.02 Results of Operations and Financial Condition", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/813672/000081367226000044/0000813672-26-000044-index.htm" }, { "form": "DEF 14A", "filed": "2026-03-25", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/813672/000119312526124264/0001193125-26-124264-index.htm" } ], "events12m": 7, "healthWatch": { "window": "last 12 months", "since": "2025-09-26", "signals": [ { "code": "5.02", "label": "Director or officer change", "count": 2, "latest": { "filed": "2026-05-12", "url": "https://www.sec.gov/Archives/edgar/data/813672/000081367226000067/0000813672-26-000067-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0000813672.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=813672" }, "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.", "notAdvice": "Reporting, not investment advice. No price targets and no trading recommendations.", "edgar": "🫧 Edgar looked up CADENCE DESIGN SYSTEMS, INC. ($CDNS). Last filing: 10-Q, 2026-07-29. 7 event filings (8-K) in the past twelve months.", "auditor": { "changes": [], "nonReliance": [], "restatedSince": null }, "metrics": { "fiscalYearEnd": "2025-12-31", "revenue": 5296759000, "revenueGrowth1y": 0.14123200059294194, "revenueGrowthPerYear": 0.15396093456423676, "yearsOfData": 5, "operatingMargin": 0.28168961434718853, "operatingMarginPrior": 0.29103343399556675, "netMargin": 0.20935217177145496, "operatingCashFlow": 1728781000, "capitalSpending": 141871000, "freeCashFlow": 1586910000, "researchAndDevelopment": null, "researchShareOfRevenue": null, "cash": 3001317000, "longTermDebt": null, "longTermDebtChange": null, "revenueHistory": [ { "fiscalYearEnd": "2022-01-01", "revenue": 2988244000 }, { "fiscalYearEnd": "2022-12-31", "revenue": 3561718000 }, { "fiscalYearEnd": "2023-12-31", "revenue": 4089986000 }, { "fiscalYearEnd": "2024-12-31", "revenue": 4641264000 }, { "fiscalYearEnd": "2025-12-31", "revenue": 5296759000 } ], "totalEquity": 5474181000, "totalAssets": 10153148000, "equityRatio": 0.5391609577640354, "returnOnEquity": 0.20256692279630506, "dividendsPaid": null, "payoutRatio": null, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.", "earningsPerShare": 4.09, "sharesOutstanding": 273312000, "bookValuePerShare": 20.029054706708816, "revenuePerShare": 19.37989916286149, "range80": { "low": 5441358397.100256, "high": 6411627411.894036, "baseline": 6045361822.185742, "n": 4599, "band": "b1", "bandLabel": "$1B–10B", "method": "v4.1", "credibility": 0.5714285714285714, "growthYears": 5, "ownVolatility": 0.02486074385864004, "classVolatility": 0.07701947805587882, "volatility": 0.05380948713592591 }, "ifPaceHeld": { "low": 5441358397.100256, "high": 6411627411.894036 } }, "edgarette": "🔖 Exposure: revenue $5.3B (FY2025). Experience: revenue up 14.1% on the year, up 15.4% a year over 4 years; operating margin 28.2%, down from 29.1%. Soundness: equity 53.9% of assets, return on equity 20.3%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $5.4B and $6.4B next year (method v4.1: its own 5-year record of growth weighed at 57% against $1B–10B filers; on a year the method never saw, 83.4% landed inside). In a shock year the stress range is $5.1B to $6.8B. A statistical range, not company guidance. Against peers (140 filers, $50M+ revenue, services-prepackaged software): operating margin 28.2% against a 0.9% median; growth 14.1% against 13.0%.", "peers": { "sic": 7372, "sicDescription": "Services-Prepackaged Software", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "7372", "growth": [ 0.1304, 140 ], "opMargin": [ 0.0091, 140 ], "equityRatio": [ 0.4999, 136 ], "returnOnEquity": [ 0.0234, 120 ], "payoutRatio": [ 0.3057, 11 ] }, "summary": "Cadence Design Systems (CDNS) grew revenue 14.1% in FY2025 to $5.3 billion, operating margin 28.2% against a 0.9% median for services-prepackaged software, equity 53.9% of assets. Every figure is from the company’s own annual report filed with the SEC.", "chart": "
CADENCE DESIGN SYSTEMS, INC. against its own record and its peers
Operating marginPeer median 0.9%28.2%Revenue, on the yearPeer median 13.0%14.1%Equity of assetsPeer median 50.0%53.9%Return on equityPeer median 2.3%20.3%Gold tick: the median of 120–136 peers with $50M+ revenue in services-prepackaged software
", "chartHorizon": null, "backtest": { "tests": 14, "hits": 12, "rate": 0.8571428571428571, "method": "v4", "byYear": { "2012": [ 1, 1 ], "2013": [ 1, 1 ], "2015": [ 1, 1 ], "2016": [ 2, 2 ], "2017": [ 1, 1 ], "2018": [ 1, 1 ], "2019": [ 1, 1 ], "2021": [ 0, 1 ], "2022": [ 1, 2 ], "2023": [ 1, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-26T16:34:36.921Z", "hash": "43d14808fb031f9e", "status": "open" }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "schema": "pops4.edgarette.card/1", "card": { "summary": "Cadence Design Systems (CDNS) grew revenue 14.1% in FY2025 to $5.3 billion, operating margin 28.2% against a 0.9% median for services-prepackaged software, equity 53.9% of assets. Every figure is from the company’s own annual report filed with the SEC.", "exposure": { "fiscalYearEnd": "2025-12-31", "revenue": 5296759000, "totalDebt": null, "cash": 3001317000 }, "experience": { "revenueGrowth1y": 0.14123200059294194, "revenueGrowthPerYear": 0.15396093456423676, "operatingMargin": 0.28168961434718853, "operatingMarginPrior": 0.29103343399556675, "netMargin": 0.20935217177145496, "freeCashFlow": 1586910000 }, "soundness": { "equityRatio": 0.5391609577640354, "returnOnEquity": 0.20256692279630506, "payoutRatio": null, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown." }, "peers": { "sic": 7372, "sicDescription": "Services-Prepackaged Software", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "7372", "growth": [ 0.1304, 140 ], "opMargin": [ 0.0091, 140 ], "equityRatio": [ 0.4999, 136 ], "returnOnEquity": [ 0.0234, 120 ], "payoutRatio": [ 0.3057, 11 ] }, "credibility": { "auditedYears": 5, "weight": "reasonable", "standard": "ASOP No. 25", "nonReliance": null, "auditorChange": null }, "healthWatch": { "window": "last 12 months", "since": "2025-09-26", "signals": [ { "code": "5.02", "label": "Director or officer change", "count": 2, "latest": { "filed": "2026-05-12", "url": "https://www.sec.gov/Archives/edgar/data/813672/000081367226000067/0000813672-26-000067-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "range": { "low": 5441358397.100256, "high": 6411627411.894036, "baseline": 6045361822.185742, "coverage": 0.8, "method": "v4.1", "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); width = the company's own volatility of yearly growth, credibility-weighted against its size class (Buhlmann), scaled to the 80% target on 2023 and tested on 2024", "calibratedOn": { "companyYears": 4599, "sizeBand": "$1B–10B", "fitYears": [ 2018, 2022 ], "tuneYear": 2023, "testYear": 2024, "coverageOnTestYear": 0.8341 }, "credibility": { "weightOnOwnRecord": 0.571, "growthYears": 5, "ownVolatility": 0.02486074385864004, "classVolatility": 0.07701947805587882, "pricedVolatility": 0.05380948713592591, "k": 3 }, "stress": { "low": 5124862813.914185, "high": 6807983517.632126, "basis": "the same range with widths set to hold 80% across 2018-2023, pandemic years included" }, "kind": "a statistical range, not company guidance; no view on the share price", "track": { "backtest": { "tests": 14, "hits": 12, "rate": 0.8571428571428571, "method": "v4", "byYear": { "2012": [ 1, 1 ], "2013": [ 1, 1 ], "2015": [ 1, 1 ], "2016": [ 2, 2 ], "2017": [ 1, 1 ], "2018": [ 1, 1 ], "2019": [ 1, 1 ], "2021": [ 0, 1 ], "2022": [ 1, 2 ], "2023": [ 1, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-26T16:34:36.921Z", "hash": "43d14808fb031f9e", "status": "open" }, "scorecard": "https://www.pops4.com/boards/scorecard" } }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0000813672.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=813672" }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.3264, "growth3y": 0.1414, "volatility": 0.0222, "paysDividend": false, "raisedDividend": false, "equityRatio": 0.5392, "quadrant": { "code": "fs", "label": "Fast and steady", "plain": "growing faster than its size class, with steadier revenue" }, "compass": { "code": "later", "inside": "Turns 32.6% of revenue into operating cash; revenue growing 14.1% a year over three years; no common dividend.", "outside": "Among $1B-10B companies: 85th percentile for cash, 80th for growth.", "emoji": "🌱", "label": "Cash cow later", "plain": "growing fast, and already turning revenue into cash" }, "band": "$1B-10B", "cashPctInClass": 85, "growthPctInClass": 80, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 0, "name": "New ship", "plain": "no warning signs" }, "cashFlow": { "fiscalYearEnd": "2025-12-31", "operating": 1728781000, "investing": -460523000, "financing": -948975000, "capitalSpending": 141871000, "free": 1586910000, "trend": [ { "fiscalYearEnd": "2022-01-01", "operating": 1100958000, "free": 1035660000 }, { "fiscalYearEnd": "2022-12-31", "operating": 1241894000, "free": 1118679000 }, { "fiscalYearEnd": "2023-12-31", "operating": 1349176000, "free": 1246839000 }, { "fiscalYearEnd": "2024-12-31", "operating": 1260551000, "free": 1118009000 }, { "fiscalYearEnd": "2025-12-31", "operating": 1728781000, "free": 1586910000 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-31", "cash": 3001317000, "shortTerm": 1150000, "longTerm": 69820000, "equityHoldings": 83200000, "totalAssets": 10153148000, "ladder": { "within1y": 1150000, "y1to5": 15481000, "y5to10": 26916000, "y10plus": 27423000, "noSingleDate": null }, "currentRatio": 2.86, "unrealizedGain": 852000, "unrealizedLoss": 199000, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }, "definitions": { "operatingMargin": "Operating income divided by revenue.", "netMargin": "Net income divided by revenue.", "freeCashFlow": "Cash from operations minus spending on property and equipment.", "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.", "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.", "returnOnEquity": "Net income for the year against shareholders equity at year end.", "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.", "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.", "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.", "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.", "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.", "backtest": "The same range method applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so.", "healthWatch": "Distress-type events the company filed in the last 12 months (late-filing notices; 8-K items 1.03, 3.01, 2.04, 4.02, 4.01, 2.05, 2.06, 1.05, 5.02), each with its count and newest filing. Display only: they do not change the range or its receipt." }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.3264, "growth3y": 0.1414, "volatility": 0.0222, "paysDividend": false, "raisedDividend": false, "equityRatio": 0.5392, "quadrant": { "code": "fs", "label": "Fast and steady", "plain": "growing faster than its size class, with steadier revenue" }, "compass": { "code": "later", "inside": "Turns 32.6% of revenue into operating cash; revenue growing 14.1% a year over three years; no common dividend.", "outside": "Among $1B-10B companies: 85th percentile for cash, 80th for growth.", "emoji": "🌱", "label": "Cash cow later", "plain": "growing fast, and already turning revenue into cash" }, "band": "$1B-10B", "cashPctInClass": 85, "growthPctInClass": 80, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 0, "name": "New ship", "plain": "no warning signs" }, "cashFlow": { "fiscalYearEnd": "2025-12-31", "operating": 1728781000, "investing": -460523000, "financing": -948975000, "capitalSpending": 141871000, "free": 1586910000, "trend": [ { "fiscalYearEnd": "2022-01-01", "operating": 1100958000, "free": 1035660000 }, { "fiscalYearEnd": "2022-12-31", "operating": 1241894000, "free": 1118679000 }, { "fiscalYearEnd": "2023-12-31", "operating": 1349176000, "free": 1246839000 }, { "fiscalYearEnd": "2024-12-31", "operating": 1260551000, "free": 1118009000 }, { "fiscalYearEnd": "2025-12-31", "operating": 1728781000, "free": 1586910000 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-31", "cash": 3001317000, "shortTerm": 1150000, "longTerm": 69820000, "equityHoldings": 83200000, "totalAssets": 10153148000, "ladder": { "within1y": 1150000, "y1to5": 15481000, "y5to10": 26916000, "y10plus": 27423000, "noSingleDate": null }, "currentRatio": 2.86, "unrealizedGain": 852000, "unrealizedLoss": 199000, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }