Synopsys (SNPS) FY2020 results: revenue $3.7 billion, up 9.7% on the year
Synopsys Inc. (SNPS) reported revenue of $3.7 billion for fiscal 2020, the year ended 31 October 2020, up 9.7% on the year before. Net income was $664 million, up 24.8%, and diluted earnings per share $4.27. The figures are the company's own, from the 10-K it filed with the SEC on 15 December 2020.
Revenue
$3.7 billion
+9.7% on the year
FY2013FY2020
Operating margin
16.8%
15.5% a year earlier
FY2013FY2020
Net income
$664 million
+24.8% on the year
FY2013FY2020
Diluted EPS
$4.27
+23.8% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
3,685
3,361
3,121
+9.7%
Cost of revenue
795
753
736
+5.5%
Gross profit
2,891
2,608
2,385
+10.8%
Gross margin
78.4%
77.6%
76.4%
Research and development
1,279
1,137
1,085
+12.5%
Operating income
620
520
360
+19.2%
Operating margin
16.8%
15.5%
11.5%
Interest expense
5.1
11.7
15.6
-55.9%
Pre-tax income
638
546
364
+17.0%
Income tax
-25.3
13.1
-69.0
Effective tax rate
-4.0%
2.4%
-19.0%
Net income
664
532
433
+24.8%
Net margin
18.0%
15.8%
13.9%
Diluted EPS
$4.27
$3.45
$2.82
+23.8%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
991
801
424
+23.8%
Capital expenditure
155
198
99.0
-21.9%
Free cash flow
837
602
325
+38.9%
Free cash flow margin
22.7%
17.9%
10.4%
Cash from investing
-360
-236
-744
Cash from financing
-141
-562
5.1
Depreciation and amortisation
210
202
209
+4.1%
Share-based compensation
249
155
140
+60.4%
Buybacks
242
329
400
-26.5%
Diluted shares, weighted
156m
154m
153m
+1.0%
Shares outstanding at period end
153m
150m
149m
+1.5%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
4,907
4,083
3,479
+20.2%
Non-controlling interest
5.0
5.9
5.9
-15.4%
Debt
128
138
469
-7.1%
Operating lease liabilities
462
0.0
n/a
Other liabilities
2,527
2,179
2,192
+16.0%
Total liabilities and equity
8,030
6,405
6,146
+25.4%
Fixed assets
484
430
309
+12.6%
Goodwill
3,365
3,171
3,143
+6.1%
Intangible assets
254
279
360
-9.0%
Investments
0.0
n/a
n/a
Cash and equivalents
1,236
729
723
+69.6%
Receivables
781
554
554
+40.9%
Inventory
192
142
122
+35.9%
Other assets
1,718
1,101
933
+56.0%
Total assets
8,030
6,405
6,146
+25.4%
10-K for the year ended 31 October 2020, filed 15 December 2020: the filing.