Stock CDS CADENCE DESIGN SYSTEMS, INC.
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Financials Cadence Design Systems, Inc. BOERSE MUENCHEN

Equities

CDS

US1273871087

Software

Real-time BOERSE MUENCHEN
Other stock markets
 01:13:47 03/07/2024 am IST 		5-day change 1st Jan Change
294 EUR +1.36% Intraday chart for Cadence Design Systems, Inc. +0.02% +16.94%
01:05pm Baird Adjusts Price Target on Cadence Design Systems to $341 From $322, Maintains Outperform Rating MT
27/06 KeyBanc Adjusts Price Target on Cadence Design Systems to $355 From $350, Maintains Overweight Rating MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 19,462 38,055 51,645 44,066 74,102 85,243 - -
Enterprise Value (EV) 1 19,103 37,823 50,904 43,932 73,742 84,066 82,865 80,876
P/E ratio 19.6 x 64.7 x 74.5 x 52 x 71.3 x 75.6 x 62.1 x 50.4 x
Yield - - - - - - - -
Capitalization / Revenue 8.33 x 14.2 x 17.3 x 12.4 x 18.1 x 18.6 x 16.4 x 14.4 x
EV / Revenue 8.18 x 14.1 x 17 x 12.3 x 18 x 18.3 x 15.9 x 13.7 x
EV / EBITDA 21.9 x 34.7 x 40.8 x 28 x 40.6 x 40.2 x 33.5 x 27.9 x
EV / FCF 29.2 x 46.7 x 49.2 x 39.3 x 59.1 x 66.1 x 47.8 x 35.6 x
FCF Yield 3.43% 2.14% 2.03% 2.55% 1.69% 1.51% 2.09% 2.81%
Price to Book 9.23 x 15.3 x 19 x 15.9 x 21.8 x 19.7 x 16.6 x 12.9 x
Nbr of stocks (in thousands) 2,80,593 2,78,931 2,77,141 2,74,316 2,72,062 2,74,164 - -
Reference price 2 69.36 136.4 186.4 160.6 272.4 310.9 310.9 310.9
Announcement Date 12/02/20 22/02/21 22/02/22 13/02/23 12/02/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 2,336 2,683 2,988 3,562 4,090 4,595 5,200 5,916
EBITDA 1 872.2 1,090 1,246 1,568 1,817 2,089 2,471 2,899
EBIT 1 749.4 944.1 1,104 1,436 1,672 1,956 2,300 2,716
Operating Margin 32.08% 35.19% 36.95% 40.33% 40.87% 42.57% 44.23% 45.9%
Earnings before Tax (EBT) 1 479 632.7 768.4 1,045 1,282 1,465 1,814 2,267
Net income 1 989 590.6 696 849 1,041 1,134 1,373 1,687
Net margin 42.33% 22.02% 23.29% 23.84% 25.46% 24.68% 26.41% 28.52%
EPS 2 3.530 2.110 2.500 3.090 3.820 4.115 5.009 6.168
Free Cash Flow 1 655 810.1 1,036 1,119 1,247 1,271 1,734 2,269
FCF margin 28.04% 30.2% 34.66% 31.41% 30.49% 27.67% 33.35% 38.35%
FCF Conversion (EBITDA) 75.1% 74.34% 83.1% 71.32% 68.63% 60.87% 70.2% 78.27%
FCF Conversion (Net income) 66.23% 137.16% 148.81% 131.77% 119.77% 112.11% 126.3% 134.48%
Dividend per Share 2 - - - - - - - -
Announcement Date 12/02/20 22/02/21 22/02/22 13/02/23 12/02/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 773 901.8 857.5 902.6 899.9 1,022 976.6 1,023 1,069 1,009 1,043 1,197 1,336 1,243 1,255
EBITDA 1 307.7 431.5 396.5 386.1 354.4 461.4 441.5 456.9 469 361.4 423.9 533 689.6 600.5 605.2
EBIT 1 272.3 396.7 363.6 355.6 320.5 427 405.4 420.6 430.5 321.8 406.8 525.1 645 543 542.3
Operating Margin 35.23% 43.99% 42.4% 39.4% 35.61% 41.79% 41.52% 41.11% 40.28% 31.89% 39.01% 43.87% 48.27% 43.68% 43.22%
Earnings before Tax (EBT) 1 194.1 309.9 272.6 252.3 210.5 321.5 298.4 300 362.1 310 275.5 391.2 495.6 389.2 430
Net income 1 176.6 235.3 186.9 186.3 240.4 241.8 221.1 254.3 323.9 247.6 215.4 300.1 383.8 308.9 301
Net margin 22.84% 26.1% 21.8% 20.64% 26.71% 23.67% 22.64% 24.86% 30.31% 24.54% 20.66% 25.08% 28.72% 24.85% 23.99%
EPS 2 0.6300 0.8500 0.6800 0.6800 0.8800 0.8900 0.8100 0.9300 1.190 0.9100 0.7591 1.078 1.367 1.150 1.097
Dividend per Share - - - - - - - - - - - - - - -
Announcement Date 22/02/22 25/04/22 25/07/22 24/10/22 13/02/23 24/04/23 24/07/23 23/10/23 12/02/24 22/04/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 359 232 741 134 359 1,177 2,378 4,367
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 655 810 1,036 1,119 1,247 1,271 1,734 2,269
ROE (net income / shareholders' equity) 36.4% 34% 35.1% 42.8% 45.7% 41% 45.9% 49.5%
ROA (Net income/ Total Assets) 21.2% 21.4% 22% 24.6% 26% 22.4% 23.6% 20.8%
Assets 1 4,664 2,760 3,159 3,445 4,005 5,069 5,815 8,111
Book Value Per Share 2 7.510 8.940 9.830 10.10 12.50 15.80 18.70 24.00
Cash Flow per Share 2 2.600 3.240 3.950 4.520 4.950 5.880 7.370 9.600
Capex 1 74.6 94.8 65.3 123 102 129 122 134
Capex / Sales 3.19% 3.53% 2.19% 3.46% 2.5% 2.8% 2.35% 2.26%
Announcement Date 12/02/20 22/02/21 22/02/22 13/02/23 12/02/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Cadence Design Systems, Inc.

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
16
Last Close Price
310.9 USD
Average target price
323.7 USD
Spread / Average Target
+4.12%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

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