Stock Analysis on Net
Stock Analysis on Net

Cadence Design Systems Inc. (NASDAQ:CDNS)

Common-Size Income Statement

Cadence Design Systems Inc., common-size consolidated income statement

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12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 28, 2019
Product and maintenance 93.75 93.78 94.13 94.55 94.36
Services 6.25 6.22 5.87 5.45 5.64
Revenue 100.00% 100.00% 100.00% 100.00% 100.00%
Cost of product and maintenance -8.11 -7.68 -7.45 -8.61 -8.10
Cost of services -2.53 -2.75 -2.82 -2.78 -3.30
Cost of revenue -10.64% -10.43% -10.27% -11.39% -11.40%
Gross margin 89.36% 89.57% 89.73% 88.61% 88.60%
Marketing and sales -16.88 -16.96 -18.75 -19.25 -20.62
Research and development -35.25 -35.14 -37.96 -38.53 -40.06
General and administrative -5.93 -6.80 -6.33 -5.76 -5.98
Amortization of acquired intangibles -0.44 -0.52 -0.66 -0.67 -0.52
Restructuring -0.27 0.00 0.04 -0.34 -0.37
Income from operations 30.59% 30.15% 26.07% 24.06% 21.05%
Interest expense -0.88 -0.64 -0.57 -0.77 -0.81
Interest income 0.72 0.28 0.09 0.14 0.41
Gains (losses) on investments 0.85 -0.15 0.02 -0.18 -0.18
Gains (losses) on securities in NQDC trust 0.27 -0.25 0.21 0.18 0.23
Gains (losses) on foreign exchange -0.13 -0.01 -0.09 0.17 -0.18
Other expense, net -0.07 -0.02 -0.01 -0.01 -0.03
Other income (expense), net 1.64% -0.15% 0.21% 0.30% 0.26%
Income before (provision) benefit for income taxes 31.34% 29.35% 25.72% 23.58% 20.50%
(Provision) benefit for income taxes -5.89 -5.51 -2.43 -1.57 21.83
Net income 25.46% 23.84% 23.29% 22.02% 42.33%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-28).

Income statement item Description The company
Income from operations The net result for the period of deducting operating expenses from operating revenues. Cadence Design Systems Inc. income from operations as a percentage of revenue increased from 2021 to 2022 and from 2022 to 2023.
Income before (provision) benefit for income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Cadence Design Systems Inc. income before (provision) benefit for income taxes as a percentage of revenue increased from 2021 to 2022 and from 2022 to 2023.
Net income The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Cadence Design Systems Inc. net income as a percentage of revenue increased from 2021 to 2022 and from 2022 to 2023.