CDNS Stock - Cadence Design Systems, Inc.
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Financial Statements
| Metric | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Revenue | $4.64B | $4.09B | $3.56B | $2.99B | $2.68B |
| Gross Profit | $3.99B | $3.65B | $3.19B | $2.68B | $2.38B |
| Gross Margin | 86.0% | 89.4% | 89.6% | 89.7% | 88.6% |
| Operating Income | $1.35B | $1.25B | $1.07B | $779.09M | $645.55M |
| Net Income | $1.06B | $1.04B | $848.95M | $695.96M | $590.64M |
| Net Margin | 22.7% | 25.5% | 23.8% | 23.3% | 22.0% |
| EPS | $3.89 | $3.86 | $3.13 | $2.54 | $2.16 |
Cadence Design Systems, Inc. provides software, hardware, services, and reusable integrated circuit (IC) design blocks worldwide. The company offers functional verification services, including emulation and prototyping hardware. Its functional verification offering consists of JasperGold, a formal verification platform; Xcelium, a parallel logic simulation platform; Palladium, an enterprise emulation platform; and Protium, a prototyping platform for chip verification. The company also provides digital IC design and sign off products, including Genus logic synthesis and Joules RTL power solutions, as well as Modus software solution to reduce systems-on-chip design-for-test time; physical implementation tools, such as place and route, optimization, and multiple patterning preparation; and signoff products to signoff the design as ready for silicon manufacturing. In addition, it offers custom IC design and simulation products to create schematic and physical representations of circuits down to the transistor level for analog, mixed-signal, custom digital, memory, and radio frequency designs; and system design and analysis products to develop printed circuit boards and IC packages, as well as to analyze electromagnetic, electro-thermal, and other multi-physics effects. Further, the company provides intellectual property (IP) products comprising pre-verified and customizable functional blocks to integrate into customer's ICs; and verification IP and memory models to emulate and model the expected behavior and interaction of standard industry system interface protocols. Additionally, it offers services related to methodology, education, and hosted design solutions, as well as technical support and maintenance services. The company serves 5G communications, aerospace and defense, automotive, industrial and healthcare, mobile, consumer, and hyperscale computing markets. Cadence Design Systems, Inc. was incorporated in 1987 and is headquartered in San Jose, California.
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Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| December 1st 2025 | Oppenheimer | Upgrade | Perform | - |
| November 24th 2025 | Citigroup | Initiation | Buy | $385 |
| October 2nd 2025 | BNP Paribas Exane | Initiation | Outperform | $400 |
| July 29th 2025 | Piper Sandler | Downgrade | Neutral | $355 |
| July 10th 2025 | Goldman | Initiation | Buy | $380 |
| April 24th 2025 | JP Morgan | Upgrade | Overweight | $325 |
| January 13th 2025 | Redburn Atlantic | Initiation | Buy | $350 |
| November 22nd 2024 | Wells Fargo | Initiation | Overweight | $350 |
| November 12th 2024 | Loop Capital | Initiation | Buy | $360 |
| October 22nd 2024 | Mizuho | Initiation | Outperform | $325 |
| October 15th 2024 | Berenberg | Initiation | Buy | $320 |
| September 25th 2024 | Oppenheimer | Initiation | Underperform | $225 |
| August 6th 2024 | Piper Sandler | Upgrade | Overweight | $318 |
| April 4th 2024 | Piper Sandler | Initiation | Neutral | $334 |
| February 14th 2024 | Morgan Stanley | Upgrade | Overweight | $350 |
Earnings History & Surprises
CDNSEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q2 2026 | Apr 27, 2026 | — | — | — | — |
Q1 2026 | Feb 17, 2026 | $1.90 | — | — | — |
Q4 2025 | Oct 27, 2025 | $1.79 | $1.93 | +7.8% | ✓ BEAT |
Q3 2025 | Jul 28, 2025 | $1.56 | $1.65 | +5.8% | ✓ BEAT |
Q2 2025 | Apr 28, 2025 | $1.49 | $1.57 | +5.4% | ✓ BEAT |
Q1 2025 | Feb 18, 2025 | $1.82 | $1.88 | +3.3% | ✓ BEAT |
Q4 2024 | Oct 28, 2024 | $1.46 | $1.64 | +12.3% | ✓ BEAT |
Q3 2024 | Jul 22, 2024 | $1.23 | $1.28 | +4.1% | ✓ BEAT |
Q2 2024 | Apr 22, 2024 | $1.13 | $1.17 | +3.5% | ✓ BEAT |
Q1 2024 | Feb 12, 2024 | $1.33 | $1.38 | +3.8% | ✓ BEAT |
Q4 2023 | Oct 23, 2023 | $1.21 | $1.26 | +4.1% | ✓ BEAT |
Q3 2023 | Jul 24, 2023 | $1.18 | $1.22 | +3.4% | ✓ BEAT |
Q2 2023 | Apr 24, 2023 | $1.25 | $1.29 | +3.2% | ✓ BEAT |
Q1 2023 | Feb 13, 2023 | $0.92 | $0.96 | +4.3% | ✓ BEAT |
Q4 2022 | Oct 24, 2022 | $0.97 | $1.06 | +9.3% | ✓ BEAT |
Q3 2022 | Jul 25, 2022 | $0.97 | $1.08 | +11.3% | ✓ BEAT |
Q2 2022 | Apr 25, 2022 | $1.01 | $1.17 | +15.8% | ✓ BEAT |
Q1 2022 | Feb 22, 2022 | $0.76 | $0.82 | +7.9% | ✓ BEAT |
Q4 2021 | Oct 25, 2021 | $0.75 | $0.80 | +6.7% | ✓ BEAT |
Q3 2021 | Jul 26, 2021 | $0.75 | $0.86 | +14.7% | ✓ BEAT |
Latest News
NVIDIA CEO Jensen Huang At CES 2026 Says Cadence Design Systems To Integrate Cuda X Technology Into Chip Design Software
📈 PositiveNeedham Reiterates Buy on Cadence Design Systems, Maintains $390 Price Target
📈 PositiveCitigroup Initiates Coverage On Cadence Design Systems with Buy Rating, Announces Price Target of $385
📈 PositiveShares of broader software stocks are trading lower. The tech sector has been under pressure amid AI valuation uncertainty and profit taking.
📉 NegativeTower Semiconductor Unveils CPO Foundry Technology Enabling Wafer-Scale 3D-IC Integration Of SiPho And SiGe EIC On 300mm Platforms, With Cadence Design Flow Support For Co-Packaged Optics
📈 PositiveOppenheimer Maintains Underperform on Cadence Design Systems, Raises Price Target to $225
➖ NeutralWells Fargo Maintains Overweight on Cadence Design Systems, Raises Price Target to $410
📈 PositiveBaird Maintains Outperform on Cadence Design Systems, Raises Price Target to $418
📈 PositiveJP Morgan Maintains Overweight on Cadence Design Systems, Raises Price Target to $405
📈 PositiveRosenblatt Maintains Neutral on Cadence Design Systems, Raises Price Target to $335
➖ NeutralNeedham Reiterates Buy on Cadence Design Systems, Maintains $390 Price Target
📈 PositiveCadence Design Systems Sees Q4 Adj EPS $1.88-$1.94 vs $1.92 Est
➖ NeutralCadence Design Systems Raises FY2025 Adj EPS Guidance from $6.85-$6.95 to $7.02-$7.08 vs $6.84 Est; Raises FY2025 Sales Guidance from $5.210B-$5.270B to $5.262B-$5.292B vs $5.248B Est
📈 PositiveCadence Design Systems Lowers FY2025 GAAP EPS Guidance from $3.97-$4.07 to $3.80-$3.86 vs $4.30 Est; Raises FY2025 Sales Guidance from $5.210B-$5.270B to $5.262B-$5.292B vs $5.248B Est
➖ NeutralCadence Design Sys Q3 Adj. EPS $1.93 Beats $1.79 Estimate, Sales $1.389B Beat $1.323B Estimate
📈 PositiveRosenblatt Maintains Neutral on Cadence Design Systems, Maintains $320 Price Target
➖ NeutralCadence Design Systems shares are trading higher, pulling back after recently falling in sympathy with Synopsys.
📈 PositiveCadence Design Systems shares are trading lower amid sympathy with Synopsys after the company reported Q3 financial results.
➖ NeutralCadence To Acquire Hexagon's Design & Engineering Business For €2.7B; Deal Includes 70% Cash, 30% Stock Consideration
📈 PositiveCadence capitalizes as Q2 chip design activity accelerates; analysts boost price targets
📈 PositiveFrequently Asked Questions about CDNS
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