Cadence Design Systems (NASDAQ:CDNS) Full Year 2023 Results

Key Financial Results

• Revenue: US$4.09b (up 15% from FY 2022).
• Net income: US$1.04b (up 23% from FY 2022).
• Profit margin: 26% (up from 24% in FY 2022). The increase in margin was driven by higher revenue.
• EPS: US$3.87 (up from US$3.13 in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Cadence Design Systems EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.2%.

Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Software industry in the US.

Performance of the American Software industry.

The company's shares are down 2.1% from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We've done some analysis and you can see our take on Cadence Design Systems' balance sheet.

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