Stock Analysis on Net

Cadence Design Systems Inc. (NASDAQ:CDNS)

Analysis of Solvency Ratios
Quarterly Data

Microsoft Excel

Solvency Ratios (Summary)

Cadence Design Systems Inc., solvency ratios (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Oct 1, 2022 Jul 2, 2022 Apr 2, 2022 Dec 31, 2021 Oct 2, 2021 Jul 3, 2021 Apr 3, 2021 Dec 31, 2020 Sep 26, 2020 Jun 27, 2020 Mar 28, 2020 Dec 28, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019
Debt Ratios
Debt to equity 0.62 0.32 0.18 0.19 0.21 0.22 0.23 0.27 0.29 0.13 0.13 0.13 0.13 0.14 0.14 0.14 0.29 0.31 0.32 0.16 0.23 0.24 0.29
Debt to capital 0.38 0.24 0.15 0.16 0.17 0.18 0.19 0.21 0.23 0.12 0.11 0.11 0.12 0.12 0.12 0.12 0.23 0.24 0.24 0.14 0.19 0.19 0.22
Debt to assets 0.31 0.19 0.11 0.11 0.12 0.13 0.13 0.15 0.16 0.08 0.08 0.08 0.08 0.08 0.09 0.09 0.17 0.17 0.18 0.10 0.13 0.13 0.16
Financial leverage 2.01 1.70 1.60 1.67 1.74 1.77 1.76 1.87 1.83 1.66 1.59 1.60 1.60 1.64 1.57 1.58 1.73 1.77 1.75 1.60 1.80 1.83 1.86
Coverage Ratios
Interest coverage 24.99 33.48 36.67 36.43 32.16 34.13 38.63 46.58 57.84 58.34 52.92 46.26 44.21 40.38 35.68 31.50 28.46 27.45 27.61 26.44

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-K (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Cadence Design Systems Inc. debt to equity ratio deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Cadence Design Systems Inc. debt to capital ratio deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Cadence Design Systems Inc. debt to assets ratio deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Cadence Design Systems Inc. financial leverage ratio increased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Cadence Design Systems Inc. interest coverage ratio deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Debt to Equity

Cadence Design Systems Inc., debt to equity calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Oct 1, 2022 Jul 2, 2022 Apr 2, 2022 Dec 31, 2021 Oct 2, 2021 Jul 3, 2021 Apr 3, 2021 Dec 31, 2020 Sep 26, 2020 Jun 27, 2020 Mar 28, 2020 Dec 28, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019
Selected Financial Data (US$ in thousands)
Revolving credit facility 30,000 100,000 150,000 350,000 350,000 350,000 50,000
Current portion of long-term debt 349,958 349,732 349,507 349,285
Long-term debt, excluding current portion 2,475,232 998,935 299,805 299,771 648,801 648,551 648,301 648,078 647,799 347,999 347,792 347,588 347,385 347,186 346,988 346,793 346,584 346,394 346,205 346,019 345,833 345,652 345,470
Total debt 2,825,190 1,348,667 649,312 649,056 648,801 648,551 678,301 748,078 797,799 347,999 347,792 347,588 347,385 347,186 346,988 346,793 696,584 696,394 696,205 346,019 345,833 345,652 395,470
 
Stockholders’ equity 4,563,338 4,260,892 3,567,596 3,404,271 3,113,894 2,908,455 2,940,876 2,745,113 2,708,128 2,625,229 2,760,183 2,740,675 2,631,262 2,516,743 2,542,432 2,493,018 2,395,718 2,256,631 2,157,994 2,102,894 1,480,262 1,430,545 1,365,837
Solvency Ratio
Debt to equity1 0.62 0.32 0.18 0.19 0.21 0.22 0.23 0.27 0.29 0.13 0.13 0.13 0.13 0.14 0.14 0.14 0.29 0.31 0.32 0.16 0.23 0.24 0.29
Benchmarks
Debt to Equity, Competitors2
Accenture PLC 0.06 0.01 0.01 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Adobe Inc. 0.39 0.38 0.24 0.22 0.23 0.24 0.26 0.29 0.29 0.30 0.30 0.28 0.29 0.30 0.30 0.31 0.35 0.38 0.39 0.39 0.40 0.42 0.42
Autodesk Inc. 1.54 1.89 2.54 1.99 2.90 3.55 3.86 3.09 2.05 1.23 1.45 1.70 23.62 24.31
CrowdStrike Holdings Inc. 0.37 0.40 0.46 0.51 0.56 0.60 0.67 0.72 0.78 0.82 0.87 0.85 0.00 0.00 0.00 0.00 0.00 0.00 0.00
International Business Machines Corp. 2.31 2.35 2.56 2.51 2.39 2.59 2.72 2.32 2.53 2.59 2.85 2.74 2.45 2.51 2.64 2.99 3.08 3.15 3.22 3.02 3.69 4.14 3.03
Intuit Inc. 0.32 0.35 0.35 0.35 0.38 0.45 0.43 0.42 0.40 0.43 0.21 0.21 0.20 0.27 0.45 0.66 0.08 0.11 0.12 0.12 0.11 0.15 0.15
Microsoft Corp. 0.26 0.31 0.32 0.23 0.25 0.26 0.28 0.30 0.31 0.33 0.35 0.41 0.43 0.46 0.52 0.54 0.58 0.63 0.66 0.71 0.77 0.79 0.89
Oracle Corp. 15.65 22.97 37.53 84.33 16.08 7.79 8.94 7.46 5.93 3.63 3.32 2.95 2.58 2.37 1.90 1.53
Palo Alto Networks Inc. 0.26 0.42 0.90 1.14 2.99 5.05 7.24 17.51 10.89 31.19 7.08 5.08 3.20 3.04 4.18 2.80 1.98 0.91 0.95 0.90 1.08 1.45 1.30
Salesforce Inc. 0.16 0.16 0.17 0.18 0.18 0.18 0.18 0.18 0.19 0.24 0.06 0.06 0.07 0.07 0.08 0.08 0.08 0.17 0.19 0.20 0.25 0.27 0.29
ServiceNow Inc. 0.16 0.17 0.18 0.20 0.21 0.21 0.27 0.30 0.33 0.35 0.39 0.43 0.45 0.48 0.53 0.58 0.64 0.28 0.31 0.33 0.48 0.54 0.56
Synopsys Inc. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.02 0.02 0.02 0.03 0.03 0.03 0.06 0.08 0.03 0.04 0.07 0.14

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-K (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30).

1 Q3 2024 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= 2,825,190 ÷ 4,563,338 = 0.62

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Cadence Design Systems Inc. debt to equity ratio deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Debt to Capital

Cadence Design Systems Inc., debt to capital calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Oct 1, 2022 Jul 2, 2022 Apr 2, 2022 Dec 31, 2021 Oct 2, 2021 Jul 3, 2021 Apr 3, 2021 Dec 31, 2020 Sep 26, 2020 Jun 27, 2020 Mar 28, 2020 Dec 28, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019
Selected Financial Data (US$ in thousands)
Revolving credit facility 30,000 100,000 150,000 350,000 350,000 350,000 50,000
Current portion of long-term debt 349,958 349,732 349,507 349,285
Long-term debt, excluding current portion 2,475,232 998,935 299,805 299,771 648,801 648,551 648,301 648,078 647,799 347,999 347,792 347,588 347,385 347,186 346,988 346,793 346,584 346,394 346,205 346,019 345,833 345,652 345,470
Total debt 2,825,190 1,348,667 649,312 649,056 648,801 648,551 678,301 748,078 797,799 347,999 347,792 347,588 347,385 347,186 346,988 346,793 696,584 696,394 696,205 346,019 345,833 345,652 395,470
Stockholders’ equity 4,563,338 4,260,892 3,567,596 3,404,271 3,113,894 2,908,455 2,940,876 2,745,113 2,708,128 2,625,229 2,760,183 2,740,675 2,631,262 2,516,743 2,542,432 2,493,018 2,395,718 2,256,631 2,157,994 2,102,894 1,480,262 1,430,545 1,365,837
Total capital 7,388,528 5,609,559 4,216,908 4,053,327 3,762,695 3,557,006 3,619,177 3,493,191 3,505,927 2,973,228 3,107,975 3,088,263 2,978,647 2,863,929 2,889,420 2,839,811 3,092,302 2,953,025 2,854,199 2,448,913 1,826,095 1,776,197 1,761,307
Solvency Ratio
Debt to capital1 0.38 0.24 0.15 0.16 0.17 0.18 0.19 0.21 0.23 0.12 0.11 0.11 0.12 0.12 0.12 0.12 0.23 0.24 0.24 0.14 0.19 0.19 0.22
Benchmarks
Debt to Capital, Competitors2
Accenture PLC 0.06 0.01 0.01 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Adobe Inc. 0.28 0.27 0.19 0.18 0.19 0.20 0.20 0.23 0.22 0.23 0.23 0.22 0.22 0.23 0.23 0.24 0.26 0.27 0.28 0.28 0.29 0.29 0.29
Autodesk Inc. 0.61 0.65 0.72 0.67 0.74 0.78 0.79 0.76 0.67 0.55 0.59 0.63 0.96 0.96 1.09 1.07 1.11 1.12 1.14 1.11 1.27 1.18 1.09
CrowdStrike Holdings Inc. 0.27 0.29 0.32 0.34 0.36 0.38 0.40 0.42 0.44 0.45 0.47 0.46 0.00 0.00 0.00 0.00 0.00 0.00 0.00
International Business Machines Corp. 0.70 0.70 0.72 0.72 0.71 0.72 0.73 0.70 0.72 0.72 0.74 0.73 0.71 0.72 0.73 0.75 0.76 0.76 0.76 0.75 0.79 0.81 0.75
Intuit Inc. 0.24 0.26 0.26 0.26 0.27 0.31 0.30 0.30 0.29 0.30 0.17 0.17 0.17 0.21 0.31 0.40 0.08 0.10 0.10 0.10 0.10 0.13 0.13
Microsoft Corp. 0.21 0.24 0.24 0.19 0.20 0.21 0.22 0.23 0.23 0.25 0.26 0.29 0.30 0.32 0.34 0.35 0.37 0.39 0.40 0.41 0.44 0.44 0.47
Oracle Corp. 0.94 0.96 0.97 0.99 1.03 1.05 1.07 1.09 1.12 1.15 1.02 0.94 0.89 0.90 0.88 0.86 0.78 0.77 0.75 0.72 0.70 0.65 0.60
Palo Alto Networks Inc. 0.21 0.29 0.47 0.53 0.75 0.83 0.88 0.95 0.92 0.97 0.88 0.84 0.76 0.75 0.81 0.74 0.66 0.48 0.49 0.47 0.52 0.59 0.56
Salesforce Inc. 0.14 0.14 0.14 0.15 0.15 0.15 0.15 0.15 0.16 0.19 0.06 0.06 0.06 0.07 0.07 0.07 0.08 0.15 0.16 0.17 0.20 0.21 0.22
ServiceNow Inc. 0.14 0.15 0.16 0.16 0.17 0.18 0.21 0.23 0.25 0.26 0.28 0.30 0.31 0.33 0.35 0.37 0.39 0.22 0.24 0.25 0.32 0.35 0.36
Synopsys Inc. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.02 0.02 0.02 0.02 0.03 0.03 0.05 0.07 0.03 0.03 0.07 0.13

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-K (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30).

1 Q3 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= 2,825,190 ÷ 7,388,528 = 0.38

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Cadence Design Systems Inc. debt to capital ratio deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Debt to Assets

Cadence Design Systems Inc., debt to assets calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Oct 1, 2022 Jul 2, 2022 Apr 2, 2022 Dec 31, 2021 Oct 2, 2021 Jul 3, 2021 Apr 3, 2021 Dec 31, 2020 Sep 26, 2020 Jun 27, 2020 Mar 28, 2020 Dec 28, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019
Selected Financial Data (US$ in thousands)
Revolving credit facility 30,000 100,000 150,000 350,000 350,000 350,000 50,000
Current portion of long-term debt 349,958 349,732 349,507 349,285
Long-term debt, excluding current portion 2,475,232 998,935 299,805 299,771 648,801 648,551 648,301 648,078 647,799 347,999 347,792 347,588 347,385 347,186 346,988 346,793 346,584 346,394 346,205 346,019 345,833 345,652 345,470
Total debt 2,825,190 1,348,667 649,312 649,056 648,801 648,551 678,301 748,078 797,799 347,999 347,792 347,588 347,385 347,186 346,988 346,793 696,584 696,394 696,205 346,019 345,833 345,652 395,470
 
Total assets 9,167,031 7,225,741 5,722,130 5,669,491 5,431,375 5,155,124 5,171,619 5,137,071 4,968,087 4,361,274 4,395,067 4,386,299 4,213,875 4,122,548 3,998,959 3,950,785 4,140,152 3,999,497 3,767,973 3,357,225 2,662,198 2,612,325 2,546,311
Solvency Ratio
Debt to assets1 0.31 0.19 0.11 0.11 0.12 0.13 0.13 0.15 0.16 0.08 0.08 0.08 0.08 0.08 0.09 0.09 0.17 0.17 0.18 0.10 0.13 0.13 0.16
Benchmarks
Debt to Assets, Competitors2
Accenture PLC 0.03 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Adobe Inc. 0.19 0.19 0.13 0.12 0.12 0.13 0.14 0.15 0.15 0.16 0.16 0.15 0.16 0.16 0.16 0.17 0.18 0.19 0.19 0.20 0.21 0.21 0.21
Autodesk Inc. 0.25 0.25 0.25 0.24 0.30 0.32 0.32 0.31 0.31 0.22 0.22 0.22 0.28 0.28 0.30 0.34 0.35 0.38 0.41 0.44 0.42 0.41 0.41
CrowdStrike Holdings Inc. 0.13 0.13 0.14 0.15 0.17 0.18 0.19 0.20 0.22 0.24 0.26 0.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00
International Business Machines Corp. 0.42 0.42 0.43 0.42 0.43 0.43 0.44 0.40 0.40 0.39 0.41 0.39 0.38 0.38 0.38 0.39 0.42 0.42 0.42 0.41 0.44 0.47 0.38
Intuit Inc. 0.19 0.20 0.21 0.22 0.23 0.26 0.26 0.25 0.24 0.26 0.14 0.13 0.13 0.16 0.24 0.31 0.05 0.06 0.07 0.07 0.06 0.08 0.09
Microsoft Corp. 0.14 0.16 0.16 0.11 0.13 0.13 0.14 0.14 0.14 0.16 0.16 0.17 0.19 0.20 0.21 0.21 0.23 0.25 0.25 0.25 0.28 0.28 0.30
Oracle Corp. 0.64 0.66 0.65 0.67 0.70 0.71 0.70 0.69 0.72 0.73 0.67 0.64 0.59 0.64 0.62 0.62 0.53 0.52 0.51 0.52 0.51 0.49 0.45
Palo Alto Networks Inc. 0.06 0.10 0.13 0.14 0.26 0.28 0.29 0.30 0.33 0.35 0.35 0.31 0.33 0.33 0.36 0.34 0.23 0.20 0.21 0.22 0.25 0.27 0.28
Salesforce Inc. 0.10 0.10 0.10 0.11 0.12 0.11 0.11 0.11 0.12 0.15 0.04 0.04 0.05 0.05 0.05 0.05 0.06 0.09 0.10 0.10 0.14 0.14 0.14
ServiceNow Inc. 0.08 0.08 0.08 0.09 0.10 0.10 0.11 0.11 0.13 0.13 0.14 0.15 0.17 0.17 0.18 0.19 0.22 0.11 0.11 0.12 0.14 0.15 0.15
Synopsys Inc. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.01 0.01 0.02 0.02 0.02 0.03 0.05 0.02 0.02 0.05 0.09

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-K (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30).

1 Q3 2024 Calculation
Debt to assets = Total debt ÷ Total assets
= 2,825,190 ÷ 9,167,031 = 0.31

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Cadence Design Systems Inc. debt to assets ratio deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Financial Leverage

Cadence Design Systems Inc., financial leverage calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Oct 1, 2022 Jul 2, 2022 Apr 2, 2022 Dec 31, 2021 Oct 2, 2021 Jul 3, 2021 Apr 3, 2021 Dec 31, 2020 Sep 26, 2020 Jun 27, 2020 Mar 28, 2020 Dec 28, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019
Selected Financial Data (US$ in thousands)
Total assets 9,167,031 7,225,741 5,722,130 5,669,491 5,431,375 5,155,124 5,171,619 5,137,071 4,968,087 4,361,274 4,395,067 4,386,299 4,213,875 4,122,548 3,998,959 3,950,785 4,140,152 3,999,497 3,767,973 3,357,225 2,662,198 2,612,325 2,546,311
Stockholders’ equity 4,563,338 4,260,892 3,567,596 3,404,271 3,113,894 2,908,455 2,940,876 2,745,113 2,708,128 2,625,229 2,760,183 2,740,675 2,631,262 2,516,743 2,542,432 2,493,018 2,395,718 2,256,631 2,157,994 2,102,894 1,480,262 1,430,545 1,365,837
Solvency Ratio
Financial leverage1 2.01 1.70 1.60 1.67 1.74 1.77 1.76 1.87 1.83 1.66 1.59 1.60 1.60 1.64 1.57 1.58 1.73 1.77 1.75 1.60 1.80 1.83 1.86
Benchmarks
Financial Leverage, Competitors2
Accenture PLC 1.95 1.89 1.93 1.99 1.98 2.01 2.05 2.14 2.16 2.16 2.15 2.21 2.18 2.18 2.14 2.18 2.19 2.17 2.19 2.07 2.05 2.05 2.11
Adobe Inc. 2.05 2.02 1.86 1.80 1.84 1.88 1.88 1.93 1.86 1.88 1.89 1.84 1.81 1.85 1.84 1.83 1.91 1.99 2.03 1.97 1.96 1.98 1.98
Autodesk Inc. 6.23 7.55 10.11 8.24 9.53 11.12 12.13 10.14 6.67 5.59 6.47 7.54 85.78 85.40
CrowdStrike Holdings Inc. 2.87 3.00 3.20 3.43 3.40 3.39 3.48 3.53 3.48 3.47 3.39 3.14 2.15 2.04 2.02 1.89 1.75 1.61 6.29
International Business Machines Corp. 5.49 5.57 5.90 6.00 5.60 5.96 6.19 5.80 6.27 6.57 7.00 6.98 6.49 6.69 6.95 7.57 7.27 7.50 7.67 7.30 8.33 8.76 7.94
Intuit Inc. 1.68 1.76 1.68 1.61 1.64 1.72 1.69 1.69 1.68 1.69 1.53 1.57 1.58 1.65 1.85 2.14 1.64 1.80 1.70 1.68 1.70 1.91 1.77
Microsoft Corp. 1.91 1.97 2.02 2.00 1.95 1.99 2.07 2.19 2.12 2.13 2.21 2.35 2.30 2.34 2.44 2.55 2.49 2.57 2.63 2.80 2.78 2.81 3.00
Oracle Corp. 24.38 34.74 57.66 125.24 25.03 13.27 13.90 11.96 9.56 6.79 6.33 5.76 4.99 4.61 3.87 3.37
Palo Alto Networks Inc. 4.01 4.20 6.82 8.29 11.50 18.06 24.69 58.35 32.88 88.29 20.09 16.14 9.59 9.15 11.68 8.23 8.73 4.47 4.50 4.16 4.31 5.33 4.63
Salesforce Inc. 1.57 1.59 1.63 1.69 1.55 1.57 1.58 1.64 1.53 1.60 1.52 1.60 1.47 1.50 1.55 1.63 1.50 1.94 2.02 1.97 1.81 1.91 2.08
ServiceNow Inc. 1.98 2.10 2.16 2.28 2.10 2.15 2.43 2.64 2.46 2.65 2.75 2.92 2.68 2.81 2.90 3.07 2.88 2.63 2.73 2.83 3.33 3.65 3.68
Synopsys Inc. 1.51 1.54 1.58 1.68 1.67 1.68 1.70 1.71 1.66 1.66 1.65 1.65 1.65 1.64 1.64 1.64 1.67 1.71 1.74 1.57 1.56 1.58 1.68

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-K (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30).

1 Q3 2024 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= 9,167,031 ÷ 4,563,338 = 2.01

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Cadence Design Systems Inc. financial leverage ratio increased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Interest Coverage

Cadence Design Systems Inc., interest coverage calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Oct 1, 2022 Jul 2, 2022 Apr 2, 2022 Dec 31, 2021 Oct 2, 2021 Jul 3, 2021 Apr 3, 2021 Dec 31, 2020 Sep 26, 2020 Jun 27, 2020 Mar 28, 2020 Dec 28, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019
Selected Financial Data (US$ in thousands)
Net income 238,111 229,520 247,643 323,899 254,321 221,120 241,804 240,392 186,305 186,920 235,335 176,579 176,307 155,900 187,169 173,738 161,630 131,288 123,988 659,675 101,514 107,235 120,555
Add: Income tax expense 95,303 86,190 62,400 38,163 45,632 77,304 79,683 (29,867) 65,967 85,725 74,586 17,475 12,388 27,365 15,252 12,451 4,083 19,378 6,192 (554,250) 15,194 21,354 7,691
Add: Interest expense 24,495 12,905 8,692 8,989 9,059 8,877 9,260 9,082 5,463 4,281 4,108 4,251 4,196 4,316 4,217 4,873 5,325 5,914 4,637 4,222 4,240 4,976 5,391
Earnings before interest and tax (EBIT) 357,909 328,615 318,735 371,051 309,012 307,301 330,747 219,607 257,735 276,926 314,029 198,305 192,891 187,581 206,638 191,062 171,038 156,580 134,817 109,647 120,948 133,565 133,637
Solvency Ratio
Interest coverage1 24.99 33.48 36.67 36.43 32.16 34.13 38.63 46.58 57.84 58.34 52.92 46.26 44.21 40.38 35.68 31.50 28.46 27.45 27.61 26.44
Benchmarks
Interest Coverage, Competitors2
Accenture PLC 175.20 175.18 168.23 193.31 220.23 212.89 217.31 195.34 188.01 133.08 133.32 131.46 126.89 196.99 191.96 205.84 248.30 245.62 270.18 273.26
Adobe Inc. 46.90 53.43 58.12 61.17 58.59 55.57 53.27 54.64 54.21 54.34 53.39 51.49 49.52 45.92 42.50 37.00 32.36 28.08 23.87 21.38 20.83 22.62 26.41
CrowdStrike Holdings Inc. 1.41 -1.80 -4.04 -5.31 -4.72 -4.71 -5.09 -5.34 -6.41 -8.16 -12.40 -55.36 -151.33 -185.47 -226.03 -315.25
International Business Machines Corp. 4.69 6.33 6.21 6.41 6.44 2.34 2.25 1.95 1.59 6.01 5.40 5.19 3.79 4.56 4.97 4.60 6.54 5.90 6.64 8.56
Intuit Inc. 15.74 14.07 13.20 13.05 14.66 16.17 19.99 32.38 55.36 62.71 93.29 89.14 92.00 89.58 120.30 158.00 158.50 164.67 148.46 126.40
Oracle Corp. 4.08 3.88 3.74 3.60 3.96 4.41 3.33 3.78 3.98 4.23 6.06 6.21 6.27 6.48 6.76 7.05 7.31 7.14 6.96 6.89
Palo Alto Networks Inc. 72.96 46.08 35.96 21.82 10.40 4.05 -1.99 -6.56 -4.28 -3.42 -2.65 -1.85 -1.68 -1.49 -1.36 -1.61 -1.55 -0.92 -0.09 0.11

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-K (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30).

1 Q3 2024 Calculation
Interest coverage = (EBITQ3 2024 + EBITQ2 2024 + EBITQ1 2024 + EBITQ4 2023) ÷ (Interest expenseQ3 2024 + Interest expenseQ2 2024 + Interest expenseQ1 2024 + Interest expenseQ4 2023)
= (357,909 + 328,615 + 318,735 + 371,051) ÷ (24,495 + 12,905 + 8,692 + 8,989) = 24.99

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Cadence Design Systems Inc. interest coverage ratio deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.