Cadence Design Systems (CDNS) FY2021 results: revenue $3.0 billion, up 11.4% on the year
Cadence Design Systems Inc. (CDNS) reported revenue of $3.0 billion for fiscal 2021, the year ended 1 January 2022, up 11.4% on the year before. Net income was $696 million, up 17.8%, and diluted earnings per share $2.50. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2022.
Revenue
$3.0 billion
+11.4% on the year
FY2014FY2021
Operating margin
26.1%
24.1% a year earlier
FY2014FY2021
Net income
$696 million
+17.8% on the year
FY2014FY2021
Diluted EPS
$2.50
+18.5% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
1,101
905
730
+21.7%
Capital expenditure
65.3
94.8
74.6
-31.1%
Free cash flow
1,036
810
655
+27.8%
Free cash flow margin
34.7%
30.2%
28.0%
Cash from investing
-293
-292
-106
Cash from financing
-644
-415
-444
Depreciation and amortisation
142
146
123
-2.3%
Share-based compensation
210
197
182
+6.5%
Buybacks
612
380
306
+61.1%
Diluted shares, weighted
279m
280m
281m
-0.3%
Shares outstanding at period end
277m
279m
280m
-0.8%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
2,741
2,493
2,103
+9.9%
Debt
348
347
346
+0.2%
Operating lease liabilities
107
114
84.8
-6.0%
Other liabilities
1,191
997
824
+19.4%
Total liabilities and equity
4,386
3,951
3,357
+11.0%
Fixed assets
306
311
276
-1.7%
Goodwill
928
782
662
+18.7%
Intangible assets
233
211
172
+10.8%
Cash and equivalents
1,089
928
705
+17.3%
Receivables
338
338
305
-0.3%
Inventory
116
76.0
55.8
+52.4%
Other assets
1,377
1,304
1,182
+5.6%
Total assets
4,386
3,951
3,357
+11.0%
10-K for the year ended 1 January 2022, filed 22 February 2022: the filing.