Cadence Design Systems (CDNS) FY2024 results: revenue $4.6 billion, up 13.5% on the year
Cadence Design Systems Inc. (CDNS) reported revenue of $4.6 billion for fiscal 2024, the year ended 31 December 2024, up 13.5% on the year before. Net income was $1.1 billion, up 1.4%, and diluted earnings per share $3.85. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2025.
Revenue
$4.6 billion
+13.5% on the year
FY2017FY2024
Operating margin
29.1%
30.6% a year earlier
FY2017FY2024
Net income
$1.1 billion
+1.4% on the year
FY2017FY2024
Diluted EPS
$3.85
+0.8% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
1,261
1,349
1,242
-6.6%
Capital expenditure
143
102
123
+39.3%
Free cash flow
1,118
1,247
1,119
-10.3%
Free cash flow margin
24.1%
30.5%
31.4%
Cash from investing
-837
-412
-739
Cash from financing
1,239
-804
-657
Depreciation and amortisation
197
145
132
+35.5%
Share-based compensation
391
326
270
+20.1%
Buybacks
550
700
1,050
-21.4%
Diluted shares, weighted
274m
273m
275m
+0.4%
Shares outstanding at period end
274m
272m
273m
+0.8%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
4,674
3,404
2,745
+37.3%
Debt
2,476
649
748
+281.5%
Operating lease liabilities
109
115
139
-5.6%
Other liabilities
1,716
1,501
1,505
+14.3%
Total liabilities and equity
8,974
5,669
5,137
+58.3%
Fixed assets
458
403
371
+13.6%
Goodwill
2,379
1,536
1,374
+54.9%
Intangible assets
595
337
355
+76.6%
Investments
265
130
4.5
+103.1%
Cash and equivalents
2,644
1,008
882
+162.3%
Receivables
680
489
487
+39.1%
Inventory
258
182
128
+41.9%
Other assets
1,696
1,584
1,535
+7.1%
Total assets
8,974
5,669
5,137
+58.3%
10-K for the year ended 31 December 2024, filed 21 February 2025: the filing.