Cadence Design Systems (CDNS) FY2016 results: revenue $1.8 billion, up 6.7% on the year
Cadence Design Systems Inc. (CDNS) reported revenue of $1.8 billion for fiscal 2016, the year ended 31 December 2016, up 6.7% on the year before. Net income was $203 million, down 19.5%, and diluted earnings per share $0.70. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2019.
Revenue
$1.8 billion
+6.7% on the year
FY2009FY2016
Operating margin
13.5%
16.8% a year earlier
FY2009FY2016
Net income
$203 million
-19.5% on the year
FY2009FY2016
Diluted EPS
$0.70
-13.6% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
1,816
1,702
1,581
+6.7%
Operating income
245
285
207
-14.2%
Operating margin
13.5%
16.8%
13.1%
Interest expense
23.7
28.3
34.1
-16.4%
Pre-tax income
237
268
181
-11.4%
Income tax
34.1
15.2
22.1
+124.4%
Effective tax rate
14.4%
5.7%
12.2%
Net income
203
252
159
-19.5%
Net margin
11.2%
14.8%
10.1%
Diluted EPS
$0.70
$0.81
$0.52
-13.6%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
445
378
317
+17.6%
Capital expenditure
53.7
44.8
39.8
+19.9%
Free cash flow
391
333
277
+17.3%
Free cash flow margin
21.5%
19.6%
17.5%
Cash from investing
1.4
-44.5
-198
Cash from financing
-593
-626
289
Depreciation and amortisation
120
118
116
+1.2%
Share-based compensation
109
92.3
83.8
+18.3%
Buybacks
960
333
100
+188.2%
Diluted shares, weighted
291m
312m
307m
-6.7%
Shares outstanding at period end
278m
309m
292m
-10.1%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
742
1,376
1,334
-46.1%
Debt
693
343
691
+102.0%
Other liabilities
662
626
1,185
+5.7%
Total liabilities and equity
2,097
2,346
3,210
-10.6%
Fixed assets
239
229
230
+4.4%
Goodwill
573
552
554
+3.8%
Intangible assets
259
296
361
-12.7%
Investments
3.1
94.5
90.4
-96.8%
Cash and equivalents
465
617
932
-24.6%
Receivables
157
165
122
-4.7%
Inventory
39.5
56.8
56.4
-30.5%
Other assets
362
336
863
+7.7%
Total assets
2,097
2,346
3,210
-10.6%
10-K for the year ended 31 December 2016, filed 27 February 2019: the filing.