Synopsys (SNPS) FY2019 results: revenue $3.4 billion, up 7.7% on the year
Synopsys Inc. (SNPS) reported revenue of $3.4 billion for fiscal 2019, the year ended 31 October 2019, up 7.7% on the year before. Net income was $532 million, up 23.1%, and diluted earnings per share $3.45. The figures are the company's own, from the 10-K it filed with the SEC on 20 December 2019.
Revenue
$3.4 billion
+7.7% on the year
FY2012FY2019
Operating margin
15.5%
11.5% a year earlier
FY2012FY2019
Net income
$532 million
+23.1% on the year
FY2012FY2019
Diluted EPS
$3.45
+22.3% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
3,361
3,121
2,725
+7.7%
Cost of revenue
753
736
654
+2.3%
Gross profit
2,608
2,385
2,071
+9.3%
Gross margin
77.6%
76.4%
76.0%
Research and development
1,137
1,085
909
+4.8%
Operating income
520
360
348
+44.4%
Operating margin
15.5%
11.5%
12.8%
Interest expense
11.7
15.6
7.3
-25.3%
Pre-tax income
546
364
383
+50.1%
Income tax
13.1
-69.0
247
Effective tax rate
2.4%
-19.0%
64.4%
Net income
532
433
137
+23.1%
Net margin
15.8%
13.9%
5.0%
Diluted EPS
$3.45
$2.82
$0.88
+22.3%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
801
424
632
+88.6%
Capital expenditure
198
99.0
70.3
+100.2%
Free cash flow
602
325
562
+85.1%
Free cash flow margin
17.9%
10.4%
20.6%
Cash from investing
-236
-744
-189
Cash from financing
-562
5.1
-373
Depreciation and amortisation
202
209
189
-3.6%
Share-based compensation
155
140
108
+10.7%
Buybacks
329
400
380
-17.7%
Diluted shares, weighted
154m
153m
155m
+0.5%
Shares outstanding at period end
150m
149m
150m
+0.7%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
4,083
3,479
3,276
+17.4%
Non-controlling interest
5.9
5.9
4.1
0.0%
Debt
138
469
144
-70.7%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
2,179
2,192
1,973
-0.6%
Total liabilities and equity
6,405
6,146
5,396
+4.2%
Fixed assets
430
309
266
+38.9%
Goodwill
3,171
3,143
2,707
+0.9%
Intangible assets
279
360
254
-22.5%
Investments
n/a
n/a
0.0
Cash and equivalents
729
723
1,048
+0.8%
Receivables
554
554
451
-0.1%
Inventory
142
122
61.9
+15.6%
Other assets
1,101
933
608
+18.0%
Total assets
6,405
6,146
5,396
+4.2%
10-K for the year ended 31 October 2019, filed 20 December 2019: the filing.