Cadence Design Systems (CDNS) FY2015 results: revenue $1.7 billion, up 7.7% on the year
Cadence Design Systems Inc. (CDNS) reported revenue of $1.7 billion for fiscal 2015, the year ended 2 January 2016, up 7.7% on the year before. Net income was $252 million, up 58.9%, and diluted earnings per share $0.81. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2016.
Revenue
$1.7 billion
+7.7% on the year
FY2008FY2015
Operating margin
16.8%
13.1% a year earlier
FY2008FY2015
Net income
$252 million
+58.9% on the year
FY2008FY2015
Diluted EPS
$0.81
+55.8% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
1,702
1,581
1,460
+7.7%
Operating income
285
207
189
+38.1%
Operating margin
16.8%
13.1%
12.9%
Interest expense
28.3
34.1
37.6
-17.0%
Pre-tax income
268
181
159
+47.8%
Income tax
15.2
22.1
-5.2
-31.3%
Effective tax rate
5.7%
12.2%
-3.3%
Net income
252
159
164
+58.9%
Net margin
14.8%
10.1%
11.2%
Diluted EPS
$0.81
$0.52
$0.56
+55.8%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
378
317
368
+19.4%
Capital expenditure
44.8
39.8
44.9
+12.6%
Free cash flow
333
277
323
+20.4%
Free cash flow margin
19.6%
17.5%
22.1%
Cash from investing
-44.5
-198
-427
Cash from financing
-626
289
-116
Depreciation and amortisation
118
116
98.3
+2.2%
Share-based compensation
92.3
83.8
66.3
+10.2%
Buybacks
333
100
0.0
+232.8%
Diluted shares, weighted
312m
307m
295m
+1.8%
Shares outstanding at period end
309m
292m
288m
+6.1%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
1,376
1,334
1,156
+3.2%
Debt
343
691
325
-50.3%
Other liabilities
626
1,185
948
-47.2%
Total liabilities and equity
2,346
3,210
2,429
-26.9%
Fixed assets
229
230
239
-0.7%
Goodwill
552
554
457
-0.4%
Intangible assets
296
361
312
-17.9%
Investments
94.5
90.4
96.8
+4.5%
Cash and equivalents
617
932
536
-33.8%
Receivables
165
122
108
+34.6%
Inventory
56.8
56.4
50.2
+0.7%
Other assets
336
863
630
-61.1%
Total assets
2,346
3,210
2,429
-26.9%
10-K for the year ended 2 January 2016, filed 18 February 2016: the filing.