Cadence Design Systems (CDNS) FY2017 results: revenue $1.9 billion, up 7.0% on the year
Cadence Design Systems Inc. (CDNS) reported revenue of $1.9 billion for fiscal 2017, the year ended 30 December 2017, up 7.0% on the year before. Net income was $204 million, up 0.5%, and diluted earnings per share $0.73. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2019.
Revenue
$1.9 billion
+7.0% on the year
FY2010FY2017
Operating margin
16.7%
13.5% a year earlier
FY2010FY2017
Net income
$204 million
+0.5% on the year
FY2010FY2017
Diluted EPS
$0.73
+4.3% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
1,943
1,816
1,702
+7.0%
Operating income
324
245
285
+32.3%
Operating margin
16.7%
13.5%
16.8%
Interest expense
25.7
23.7
28.3
+8.4%
Pre-tax income
315
237
268
+32.8%
Income tax
111
34.1
15.2
+225.7%
Effective tax rate
35.2%
14.4%
5.7%
Net income
204
203
252
+0.5%
Net margin
10.5%
11.2%
14.8%
Diluted EPS
$0.73
$0.70
$0.81
+4.3%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
471
445
378
+5.8%
Capital expenditure
57.9
53.7
44.8
+7.8%
Free cash flow
413
391
333
+5.5%
Free cash flow margin
21.2%
21.5%
19.6%
Cash from investing
-191
1.4
-44.5
Cash from financing
-70.1
-593
-626
Depreciation and amortisation
116
120
118
-3.4%
Share-based compensation
130
109
92.3
+19.1%
Buybacks
100
960
333
-89.6%
Diluted shares, weighted
280m
291m
312m
-3.8%
Shares outstanding at period end
282m
278m
309m
+1.4%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
989
742
1,376
+33.4%
Debt
729
693
343
+5.2%
Other liabilities
700
662
626
+5.8%
Total liabilities and equity
2,419
2,097
2,346
+15.3%
Fixed assets
251
239
229
+5.3%
Goodwill
666
573
552
+16.3%
Intangible assets
279
259
296
+7.7%
Investments
4.5
3.1
94.5
+45.7%
Cash and equivalents
688
465
617
+47.9%
Receivables
190
157
165
+21.2%
Inventory
33.2
39.5
56.8
-15.9%
Other assets
306
362
336
-15.3%
Total assets
2,419
2,097
2,346
+15.3%
10-K for the year ended 30 December 2017, filed 27 February 2019: the filing.