Latest revenue
$1.47B
as of 2026-03-31
Latest net income
$335.7M
as of 2026-03-31
Net margin
22.8%
as of 2026-03-31
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $103.04B
- Enterprise value
- $103.12B
- P/E (trailing)
- 92.9×
- Forward P/E
- —
- P/B
- 19.82×
- Dividend yield
- 0.0%
- 52-wk high
- $381.55
- 52-wk low
- $262.75
- Beta
- —
- Shares out
- 275.8M
5-year trend
What this company does
Cadence sells electronic design automation software, IP, and hardware systems that chipmakers and electronics firms use to design semiconductors and complex circuit boards. Recurring software licenses and maintenance generate the bulk of revenue, with hardware emulation systems and design services contributing the remainder. Revenue grew 17% year-over-year to $3.86 billion for the first nine months of 2025, driven by surging AI-chip design demand, though a $129 million contingent liability charge tied to export-control matters weighed on operating income.
Generated from CDNS's filing dated 2026-02-19
Key risks
- China export controls: $128.5M contingent liability loss recorded in 9M 2025 tied to BIS matter (Note 16), signaling regulatory exposure on China sales.
- Leverage rose sharply: $2.48B long-term debt drove interest expense to $87M (9M 2025) vs $46M prior year, pressuring earnings if rates persist.
- Aggressive capital return amid M&A: $725M buybacks plus $251M acquisitions in 9M 2025 lifted goodwill+intangibles to $3.3B, raising impairment risk.
Generated from CDNS's filing dated 2026-02-19
Profitability
Operating margin
28.2%
3.2%Net margin
20.9%
7.9%Return on equity
20.3%
10.3%Return on assets
10.9%
7.1%Leverage
Debt / equity
0.85×
7.1%Long-term debt / equity
0.45×
14.5%Debt / assets
46.1%
3.8%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $1.47B | +18.7% | $335.7M | +22.7% | 22.8% |
Q4 2025 2025-12-31 | $1.44B | +6.2% | $388.1M | +14.1% | 27.0% |
Q3 2025 2025-09-30 | $1.34B | +10.1% | $287.1M | +20.6% | 21.4% |
Q2 2025 2025-06-30 | $1.28B | +20.2% | $160.1M | -30.3% | 12.5% |
Q1 2025 2025-03-31 | $1.24B | +23.1% | $273.6M | +10.5% | 22.0% |
Q4 2024 2024-12-31 | $1.36B | — | $340.2M | — | 25.1% |
Q3 2024 2024-09-30 | $1.22B | +18.8% | $238.1M | -6.4% | 19.6% |
Q2 2024 2024-06-30 | $1.06B | +8.6% | $229.5M | +3.8% | 21.6% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Services-Prepackaged Software · SIC 7372
Your notes
Keep private notes on CDNS — thesis, target price, catalysts to watch.
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Insider activity
Insider buying
$0
Insider selling
$53.3M
Net activity
−$53.3M
Distinct insiders
7
Open-market trades over the last 365 days.
Recent transactions
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns CDNS
Institutional value
$21.93B
Total shares held
81.1M
Distinct holders
739
As of
2026-03-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | VANGUARD CAPITAL MANAGEMENT LLC | 17.8M | $4.95B | — | New |
| 2 | VANGUARD PORTFOLIO MANAGEMENT LLC | 7.0M | $1.95B | — | New |
| 3 | JENNISON ASSOCIATES LLC | 5.8M | $1.60B | — | New |
| 4 | Invesco Ltd. | 3.0M | $839.8M | — | New |
| 5 | Legal & General Group Plc | 2.0M | $546.9M | — | New |
| 6 | PRINCIPAL FINANCIAL GROUP INC | 1.9M | $524.9M | — | New |
| 7 | Swedbank AB | 1.8M | $510.1M | — | New |
| 8 | Bank of New York Mellon Corp | 1.6M | $452.1M | — | New |
| 9 | VANGUARD FIDUCIARY TRUST CO | 1.6M | $437.3M | — | New |
| 10 | DEUTSCHE BANK AG\ | 1.5M | $419.2M | — | New |
| 11 | Pictet Asset Management Holding SA | 1.2M | $346.6M | — | New |
| 12 | Nuveen, LLC | 1.2M | $320.3M | — | New |
| 13 | UBS Group AG | 1.1M | $310.1M | — | New |
| 14 | Sumitomo Mitsui Trust Group, Inc. | 1.0M | $283.0M | — | New |
| 15 | Swiss National Bank | 798.9K | $222.0M | — | New |
| 16 | Mitsubishi UFJ Asset Management Co., Ltd. | 776.3K | $215.7M | — | New |
| 17 | National Pension Service | 754.0K | $209.5M | — | New |
| 18 | Meridiem Investment Management Ltd. | 752.4K | $209.0M | — | New |
| 19 | Temasek Holdings (Private) Ltd | 749.1K | $208.2M | — | New |
| 20 | WELLS FARGO & COMPANY/MN | 679.4K | $188.8M | — | New |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
The $128.5M Note 16 contingent liability charge—what triggered it, is it tied to China export controls, and could further accruals follow?
- 2
Q3 product/maintenance growth was 9.7% YoY versus 17% YTD—is hardware/Palladium demand decelerating, and what's implied Q4 backlog conversion?
- 3
R&D rose to $1.30B YTD (+13%) while operating margin compressed ex-charge—how do you defend EDA pricing power against Synopsys/Ansys integration?
Refreshed when CDNS files a new report · last from 2026-02-19