Cadence Design Systems (CDNS) FY2018 results: revenue $2.1 billion, up 10.0% on the year
Cadence Design Systems Inc. (CDNS) reported revenue of $2.1 billion for fiscal 2018, the year ended 29 December 2018, up 10.0% on the year before. Net income was $346 million, up 69.4%, and diluted earnings per share $1.23. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2019.
Revenue
$2.1 billion
+10.0% on the year
FY2011FY2018
Operating margin
18.5%
16.7% a year earlier
FY2011FY2018
Net income
$346 million
+69.4% on the year
FY2011FY2018
Diluted EPS
$1.23
+68.5% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
2,138
1,943
1,816
+10.0%
Operating income
396
324
245
+22.3%
Operating margin
18.5%
16.7%
13.5%
Interest expense
23.1
25.7
23.7
-9.8%
Pre-tax income
376
315
237
+19.5%
Income tax
30.6
111
34.1
-72.4%
Effective tax rate
8.1%
35.2%
14.4%
Net income
346
204
203
+69.4%
Net margin
16.2%
10.5%
11.2%
Diluted EPS
$1.23
$0.73
$0.70
+68.5%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
605
471
445
+28.5%
Capital expenditure
61.5
57.9
53.7
+6.2%
Free cash flow
543
413
391
+31.6%
Free cash flow margin
25.4%
21.2%
21.5%
Cash from investing
-174
-191
1.4
Cash from financing
-568
-70.1
-593
Depreciation and amortisation
119
116
120
+2.8%
Share-based compensation
168
130
109
+29.0%
Buybacks
250
100
960
+150.0%
Diluted shares, weighted
281m
280m
291m
+0.3%
Shares outstanding at period end
280m
282m
278m
-0.7%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,288
989
742
+30.2%
Debt
445
729
693
-38.9%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
735
700
662
+5.0%
Total liabilities and equity
2,469
2,419
2,097
+2.1%
Fixed assets
253
251
239
+0.5%
Goodwill
662
666
573
-0.6%
Intangible assets
225
279
259
-19.1%
Investments
n/a
4.5
3.1
Cash and equivalents
533
688
465
-22.5%
Receivables
297
190
157
+56.0%
Inventory
28.2
33.2
39.5
-15.2%
Other assets
470
306
362
+53.3%
Total assets
2,469
2,419
2,097
+2.1%
10-K for the year ended 29 December 2018, filed 27 February 2019: the filing.