Cadence Design Systems (CDNS) FY2022 results: revenue $3.6 billion, up 19.2% on the year
Cadence Design Systems Inc. (CDNS) reported revenue of $3.6 billion for fiscal 2022, the year ended 31 December 2022, up 19.2% on the year before. Net income was $849 million, up 22.0%, and diluted earnings per share $3.09. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2023.
Revenue
$3.6 billion
+19.2% on the year
FY2015FY2022
Operating margin
30.1%
26.1% a year earlier
FY2015FY2022
Net income
$849 million
+22.0% on the year
FY2015FY2022
Diluted EPS
$3.09
+23.6% on the year
FY2015FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
1,242
1,101
905
+12.8%
Capital expenditure
123
65.3
94.8
+88.7%
Free cash flow
1,119
1,036
810
+8.0%
Free cash flow margin
31.4%
34.7%
30.2%
Cash from investing
-739
-293
-292
Cash from financing
-657
-644
-415
Depreciation and amortisation
132
142
146
-7.2%
Share-based compensation
270
210
197
+28.7%
Buybacks
1,050
612
380
+71.5%
Diluted shares, weighted
275m
279m
280m
-1.4%
Shares outstanding at period end
273m
277m
279m
-1.5%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
2,745
2,741
2,493
+0.2%
Debt
748
348
347
+115.2%
Operating lease liabilities
139
107
114
+30.1%
Other liabilities
1,505
1,191
997
+26.3%
Total liabilities and equity
5,137
4,386
3,951
+17.1%
Fixed assets
371
306
311
+21.4%
Goodwill
1,374
928
782
+48.0%
Intangible assets
355
233
211
+52.0%
Investments
4.5
n/a
n/a
Cash and equivalents
882
1,089
928
-19.0%
Receivables
487
338
338
+44.2%
Inventory
128
116
76.0
+10.6%
Other assets
1,535
1,377
1,304
+11.5%
Total assets
5,137
4,386
3,951
+17.1%
10-K for the year ended 31 December 2022, filed 13 February 2023: the filing.