Cadence Design Systems market cap is $20.7 b, and annual revenue was $2.14 b in FY 2018

Cadence Design Systems Net income (Q3, 2019)101.5 M

Cadence Design Systems Cash, 28-Sept-2019655.2 M

Cadence Design Systems EV20.4 B

Cadence Design Systems revenue breakdown by geographic segment: 44.5% from Americas , 27.1% from Asia, 19.9% from Europe, Middle East and Africa and 8.6% from Japan

USD | FY, 2011 | FY, 2012 | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 | FY, 2018 |
---|---|---|---|---|---|---|---|---|

## Revenue | 1.1b | 1.3b | 1.5b | 1.6b | 1.7b | 1.8b | 1.9b | 2.1b |

| 8% | 8% | 7% | 7% | ||||

## Cost of goods sold | 69.7m | 73.4m | 237.4m | |||||

## Gross profit | 1.1b | 1.3b | 1.7b | |||||

| 94% | 94% | 88% | |||||

## Sales and marketing expense | 323.8m | 342.3m | 419.2m | 439.7m | ||||

## R&D expense | 400.7m | 454.1m | 735.3m | 804.2m | 884.8m | |||

## General and administrative expense | 92.9m | 112.1m | 125.1m | 131.2m | 133.4m | |||

## Operating expense total | 959.8m | 1.0b | 860.4m | 1.4b | 1.5b | |||

## Depreciation and amortization | 14.7m | 14.1m | ||||||

## EBIT | 120.4m | 211.7m | 189.0m | 206.6m | 285.4m | 244.9m | 324.0m | 396.2m |

| 10% | 16% | 13% | 13% | 17% | 13% | 17% | 19% |

## Interest expense | 43.0m | 34.7m | 37.6m | 34.1m | 28.3m | 23.7m | 25.7m | |

## Interest income | 1.3m | 1.5m | ||||||

## Investment income | (136.0k) | (65.0k) | ||||||

## Pre tax profit | 95.4m | 188.3m | 159.0m | 181.0m | 267.6m | 237.2m | 315.0m | 376.4m |

## Income tax expense | 23.2m | (251.7m) | (5.2m) | 22.1m | 15.2m | 34.1m | 110.9m | 30.6m |

## Net Income | 72.2m | 439.9m | 164.2m | 158.9m | 252.4m | 203.1m | 204.1m | 345.8m |

USD | FY, 2011 | FY, 2012 | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 | FY, 2018 |
---|---|---|---|---|---|---|---|---|

## Cash | 601.6m | 726.4m | 536.3m | 932.2m | 616.7m | 465.2m | 688.1m | 533.3m |

## Accounts Receivable | 136.8m | 97.8m | 48.0k | 190.4m | 297.1m | |||

## Prepaid Expenses | 64.2m | 127.0m | 63.8m | 92.6m | ||||

## Inventories | 43.2m | 36.2m | 50.2m | 56.4m | 56.8m | 39.5m | 33.2m | 28.2m |

## Current Assets | 1.1b | 1.4b | 1.2b | 1.9b | 964.8m | 702.0m | 980.0m | 951.1m |

## PP&E | 262.5m | 244.4m | 238.7m | 230.1m | 228.6m | 238.6m | 251.3m | 252.6m |

## Goodwill | 192.1m | 233.3m | 456.9m | 553.8m | 551.8m | 572.8m | 666.0m | 662.3m |

## Total Assets | 1.8b | 2.3b | 2.4b | 3.2b | 2.4b | 2.1b | 2.4b | 2.5b |

## Accounts Payable | 3.2m | 6.4m | 239.5m | 221.1m | 5.5m | |||

## Short-term debt | 91.5m | 104.4m | 85.0m | 100.0m | ||||

## Current Liabilities | 1.0b | 1.2b | 1.1b | 1.4b | 536.3m | 585.6m | 642.4m | 709.0m |

## Long-term debt | 348.7m | 348.8m | 643.5m | 705.9m | 345.3m | |||

## Non-Current Liabilities | 334.8m | 154.6m | 124.3m | 482.9m | 438.6m | 769.6m | 787.1m | 471.3m |

## Total Debt | 91.5m | 104.4m | 348.7m | 348.8m | 643.5m | 790.9m | 345.3m | |

## Total Liabilities | 1.3b | 1.9b | 974.9m | 1.4b | 1.4b | |||

## Common Stock | 272.7m | 280.6m | 1.8b | 280.0m | ||||

## Preferred Stock | ||||||||

## Additional Paid-in Capital | 1.9b | |||||||

## Retained Earnings | (1.1b) | (649.5m) | (485.3m) | (326.4m) | (74.0m) | 136.9m | 341.0m | 772.7m |

## Total Equity | 411.1m | 915.2m | 1.2b | 1.3b | 1.4b | 741.8m | 989.2m | 1.3b |

## Debt to Equity Ratio | 0.3 x | 0.3 x | 0.9 x | 0.8 x | 0.3 x | |||

## Debt to Assets Ratio | 0.1 x | 0.1 x | 0.3 x | 0.3 x | 0.1 x | |||

## Financial Leverage | 4.3 x | 2.5 x | 2.1 x | 2.4 x | 1.7 x | 2.8 x | 2.4 x | 1.9 x |

USD | Q1, 2011 | Q2, 2011 | Q3, 2011 | Q1, 2012 | Q2, 2012 | Q3, 2012 | Q1, 2013 | Q2, 2013 | Q3, 2013 | Q1, 2014 | Q2, 2014 | Q3, 2014 | Q3, 2015 | Q1, 2016 | Q2, 2015 | Q3, 2016 | Q1, 2016 | Q2, 2016 | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q1, 2018 | Q2, 2018 | Q3, 2018 | Q1, 2019 | Q2, 2019 | Q3, 2019 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|

## Cash | 612.2m | 665.3m | 696.1m | 659.7m | 661.7m | 649.1m | 810.2m | 577.2m | 620.4m | 532.8m | 557.4m | 500.5m | 616.1m | 887.7m | 647.9m | 524.3m | 810.4m | 669.6m | 544.1m | 656.0m | 678.3m | 747.0m | 819.5m | 544.6m | 538.9m | 633.4m | 655.2m |

## Accounts Receivable | 172.5m | 150.2m | 152.4m | 80.0m | 123.2m | 123.2m | 75.3m | 92.6m | 225.8m | 219.1m | 240.8m | 264.8m | 237.6m | 274.9m | |||||||||||||

## Prepaid Expenses | 80.0m | 59.9m | 69.2m | 62.0m | 60.8m | 122.6m | 120.6m | 61.6m | 56.0m | 67.0m | 76.8m | 58.9m | 53.1m | ||||||||||||||

## Inventories | 43.1m | 44.4m | 47.1m | 41.7m | 41.1m | 34.6m | 37.0m | 38.7m | 45.9m | 55.6m | 58.3m | 61.1m | 57.7m | 54.5m | 62.2m | 64.5m | 56.6m | 61.9m | 30.7m | 31.9m | 36.0m | 30.1m | 28.6m | 30.5m | 37.5m | 49.3m | 66.7m |

## Current Assets | 922.6m | 1.2b | 958.5m | 1.1b | 1.2b | 1.3b | 1.5b | 1.3b | 1.3b | 1.3b | 1.4b | 1.4b | 1.0b | 1.7b | 1.1b | 792.3m | 1.2b | 962.2m | 800.0m | 883.5m | 931.1m | 1.1b | 1.1b | 888.4m | 917.9m | 979.2m | 1.0b |

## PP&E | 273.2m | 267.8m | 259.9m | 257.7m | 251.9m | 246.9m | 237.5m | 243.3m | 249.8m | 252.2m | 248.2m | 253.4m | 257.9m | 259.5m | |||||||||||||

## Goodwill | 159.1m | 173.8m | 192.2m | 192.4m | 192.2m | 233.3m | 232.6m | 457.6m | 456.3m | 479.0m | 560.0m | 557.3m | 552.4m | 553.9m | 553.8m | 573.9m | 551.9m | 573.7m | 574.5m | 575.0m | 574.9m | 665.6m | 663.3m | 661.3m | 662.9m | 662.7m | 661.7m |

## Total Assets | 1.8b | 1.9b | 1.9b | 1.8b | 1.8b | 2.0b | 2.3b | 2.6b | 2.6b | 2.5b | 2.8b | 2.7b | 2.3b | 3.1b | 2.4b | 2.2b | 2.5b | 2.4b | 2.2b | 2.3b | 2.3b | 2.5b | 2.5b | 2.3b | 2.5b | 2.6b | 2.7b |

## Accounts Payable | 188.6m | 165.7m | 140.4m | 143.8m | 154.0m | 160.3m | 156.6m | 185.8m | 193.4m | 189.2m | 217.0m | 205.6m | 194.4m | 178.5m | 202.8m | 192.9m | 195.2m | 224.7m | 194.0m | 222.2m | 199.7m | 210.8m | 243.2m | 212.2m | 235.7m | 246.6m | 274.9m |

## Short-term debt | 70.0m | 77.4m | 84.7m | 82.5m | 89.6m | 97.7m | 104.8m | 115.4m | 299.8m | 299.9m | 50.0m | ||||||||||||||||

## Current Liabilities | 673.7m | 1.2b | 649.5m | 1.0b | 1.0b | 1.1b | 1.2b | 1.4b | 1.3b | 1.2b | 1.4b | 1.3b | 509.6m | 1.2b | 527.4m | 531.3m | 567.9m | 564.5m | 575.8m | 544.7m | 520.1m | 866.2m | 870.1m | 541.3m | 631.4m | 610.2m | 619.0m |

## Long-term debt | 348.8m | 348.7m | 348.7m | 643.3m | 642.9m | 643.1m | 643.7m | 643.9m | 644.1m | 344.8m | 344.9m | 345.1m | 345.5m | 345.7m | 345.8m | ||||||||||||

## Non-Current Liabilities | 844.3m | 358.9m | 834.5m | 322.7m | 324.4m | 325.5m | 93.0m | 160.9m | 163.5m | 117.3m | 117.3m | 125.2m | 436.9m | 472.9m | 456.1m | 736.0m | 737.1m | 738.0m | 774.8m | 771.2m | 774.4m | 478.1m | 469.8m | 474.5m | 549.0m | 571.6m | 563.0m |

## Total Debt | 70.0m | 77.4m | 84.7m | 82.5m | 89.6m | 97.7m | 104.8m | 115.4m | 348.8m | 348.7m | 348.7m | 643.3m | 642.9m | 643.1m | 643.7m | 643.9m | 644.1m | 644.6m | 644.8m | 345.1m | 345.5m | 345.7m | 345.8m | ||||

## Total Liabilities | 1.3b | 1.3b | 1.0b | ||||||||||||||||||||||||

## Common Stock | 179.7m | 257.8m | 219.2m | 287.1m | 315.9m | 335.1m | 1.9b | 1.9b | 1.9b | ||||||||||||||||||

## Additional Paid-in Capital | 1.9b | 2.0b | 2.0b | ||||||||||||||||||||||||

## Retained Earnings | (1.1b) | (1.1b) | (1.1b) | (1.1b) | (1.0b) | (962.5m) | (570.9m) | (561.5m) | (523.0m) | (452.2m) | (429.0m) | (391.4m) | (154.4m) | (290.1m) | (232.0m) | 98.4m | (15.6m) | 33.7m | 205.2m | 274.3m | 355.4m | 499.8m | 575.0m | 674.3m | 893.3m | 1.0b | 1.1b |

## Total Equity | 297.7m | 331.3m | 376.6m | 460.8m | 502.0m | 588.4m | 1.0b | 1.0b | 1.4b | 1.4b | 926.8m | 1.2b | 1.1b | 840.6m | 951.8m | 1.0b | 1.1b | 1.2b | 1.3b | 1.4b | 1.4b | 1.5b | |||||

## Debt to Equity Ratio | 0.3 x | 0.2 x | 0.7 x | 0.5 x | 0.6 x | 0.8 x | 0.7 x | 0.6 x | 0.6 x | 0.5 x | 0.3 x | 0.3 x | 0.2 x | 0.2 x | |||||||||||||

## Debt to Assets Ratio | 0.1 x | 0.1 x | 0.1 x | 0.3 x | 0.3 x | 0.3 x | 0.3 x | 0.3 x | 0.3 x | 0.3 x | 0.3 x | 0.2 x | 0.1 x | 0.1 x | 0.1 x | ||||||||||||

## Financial Leverage | 6.1 x | 5.7 x | 4.9 x | 3.9 x | 3.6 x | 3.4 x | 2.3 x | 2.5 x | 1.7 x | 1.7 x | 2.4 x | 2.1 x | 2.2 x | 2.6 x | 2.4 x | 2.3 x | 2.2 x | 2.1 x | 1.8 x | 1.9 x | 1.8 x | 1.8 x |

USD | FY, 2011 | FY, 2012 | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 | FY, 2018 |
---|---|---|---|---|---|---|---|---|

## Net Income | 72.2m | 439.9m | 164.2m | 158.9m | 252.4m | 203.1m | 204.1m | 345.8m |

## Depreciation and Amortization | 91.6m | 89.2m | 98.3m | 115.6m | 118.2m | 119.6m | 115.5m | 118.7m |

## Accounts Receivable | 14.4m | 45.6m | (28.4m) | (87.1m) | ||||

## Inventories | (6.8m) | 5.2m | (15.0m) | (12.0m) | (1.1m) | 4.9m | 5.0m | 752.0k |

## Accounts Payable | (46.9m) | 17.5m | (26.0m) | 1.6m | ||||

## Cash From Operating Activities | 240.3m | 316.0m | 367.6m | 316.7m | 378.2m | 444.9m | 470.7m | 604.8m |

## Purchases of PP&E | (31.4m) | (36.0m) | (44.9m) | (39.8m) | (44.8m) | (53.7m) | (57.9m) | (61.5m) |

## Cash From Investing Activities | (56.5m) | (201.2m) | (426.9m) | (198.0m) | (44.5m) | 1.4m | (191.2m) | (173.8m) |

## Short-term Borrowings | (100.0m) | (85.0m) | ||||||

## Cash From Financing Activities | (144.8m) | 15.8m | (116.3m) | 289.0m | (626.3m) | (592.7m) | (70.1m) | (567.9m) |

## Net Change in Cash | 44.2m | 124.8m | 222.9m | (154.8m) | ||||

## Interest Paid | 13.4m | 11.4m | 12.4m | 10.0m | 19.9m | 21.0m | 24.2m | 23.0m |

## Income Taxes Paid | 19.0m | 18.6m | 36.8m | 59.1m | 68.0m |

USD | Y, 2019 |
---|---|

## EV/CFO | 35.7 x |

## Debt/Equity | 0.2 x |

## Debt/Assets | 0.1 x |

## Financial Leverage | 1.8 x |