Synopsys, Inc.

SNPS · NASDAQ · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990
Valuation
Market cap	$84,296	$78,898	$71,394	$44,734	$51,123	$32,814	$20,829	$13,737	$13,275	$9,100	$7,669	$6,354	$5,584	$4,730	$3,930	$3,767	$3,165	$2,619	$4,068	$3,215	$2,747	$2,502	$4,999	$2,507	$2,848	$2,389	$3,938	$2,218	$2,660	$1,922	$1,456	$839	$746	$436	$394	$350
Enterprise value	$95,628	$75,534	$70,492	$43,830	$50,212	$32,247	$20,244	$13,489	$12,375	$8,188	$6,909	$5,443	$4,666	$4,207	$2,926	$2,828	$1,997	$1,667	$3,084	$2,642	$2,161	$1,923	$4,302	$2,093	$2,372	$1,961	$3,254	$2,079	$2,600	$1,916	$1,365	$746	$709	$416	$385	$343
P/E (TTM) at period end	63.28×	34.86×	58.05×	45.43×	67.49×	49.39×	39.13×	31.76×	97.21×	34.11×	33.94×	24.52×	22.53×	25.93×	17.75×	15.89×	18.88×	13.78×	31.18×	129.95×	–	33.65×	33.39×	–	50.14×	24.44×	24.40×	24.18×	36.74×	81.09×	48.05×	53.10×	56.55×	61.46×	112.50×	87.50×
P/S (TTM) at period end	11.95×	12.88×	13.42×	9.69×	12.16×	8.90×	6.20×	4.40×	4.87×	3.76×	3.42×	3.09×	2.85×	2.69×	2.56×	2.73×	2.33×	1.96×	3.36×	2.93×	2.77×	2.29×	4.25×	2.76×	4.19×	3.05×	4.88×	3.09×	4.11×	3.66×	5.48×	4.28×	6.91×	6.93×	9.72×	15.84×
P/B at period end	2.98×	8.78×	11.61×	8.11×	9.65×	6.69×	5.10×	3.95×	4.05×	2.85×	2.45×	2.08×	2.00×	1.89×	1.87×	1.79×	1.72×	1.71×	2.83×	2.76×	2.25×	1.98×	3.49×	2.25×	5.86×	3.50×	4.55×	3.36×	6.46×	8.26×	7.99×	6.93×	9.08×	7.51×	18.84×	29.41×
EV / EBITDA (TTM)	60.70×	45.76×	46.37×	31.83×	53.50×	38.85×	28.04×	23.69×	23.04×	15.61×	14.45×	12.33×	10.75×	12.13×	8.57×	9.91×	6.45×	5.27×	13.80×	18.36×	19.82×	6.82×	11.35×	58.50×	36.55×	11.49×	11.31×	9.39×	15.72×	15.69×	20.22×	17.46×	25.58×	26.52×	43.80×	54.49×
EV / Sales (TTM)	13.56×	12.33×	13.26×	9.50×	11.94×	8.75×	6.02×	4.32×	4.54×	3.38×	3.08×	2.65×	2.38×	2.40×	1.91×	2.05×	1.47×	1.25×	2.54×	2.41×	2.18×	1.76×	3.66×	2.31×	3.49×	2.50×	4.04×	2.90×	4.02×	3.64×	5.14×	3.80×	6.56×	6.61×	9.52×	15.53×
Returns
Return on equity	4.7%	25.2%	20.0%	17.9%	14.3%	13.5%	13.0%	12.4%	4.2%	8.4%	7.2%	8.5%	8.9%	7.3%	10.5%	11.3%	9.1%	12.4%	9.1%	2.1%	(1.3%)	5.9%	10.4%	(18.0%)	11.7%	14.3%	18.6%	13.9%	17.6%	10.2%	16.6%	13.0%	16.1%	12.2%	16.7%	33.6%
Return on invested capital	2.2%	21.9%	22.0%	21.1%	15.2%	14.3%	14.5%	11.1%	5.2%	10.6%	8.5%	11.0%	11.8%	8.7%	17.1%	13.9%	13.1%	20.0%	10.7%	2.0%	(7.3%)	7.9%	14.6%	(6.9%)	(0.1%)	13.3%	25.2%	18.1%	22.0%	17.2%	36.3%	69.8%	28.4%	17.6%	25.8%	65.4%
Dividend yield	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Financial health
Current ratio	1.62×	2.44×	1.15×	1.09×	1.16×	1.19×	0.99×	0.73×	1.04×	1.00×	0.93×	1.09×	1.18×	0.91×	1.32×	1.35×	1.80×	1.45×	1.29×	1.03×	1.16×	1.23×	1.54×	1.20×	1.26×	1.94×	3.18×	2.87×	2.36×	1.98×	2.28×	2.06×	2.55×	2.77×	1.79×	2.03×
Debt / equity	0.48×	0.00×	0.00×	0.00×	0.02×	0.03×	0.03×	0.13×	0.04×	0.06×	0.07×	0.02×	0.04×	0.05×	–	–	–	–	–	–	–	–	–	0.00×	0.00×	0.01×	0.02×	0.03×	0.04×	0.12×	–	–	–	0.02×	0.19×	0.22×
Effective tax rate	4.0%	6.6%	6.9%	12.6%	6.1%	(4.0%)	2.4%	(19.0%)	64.4%	19.0%	19.8%	4.8%	10.1%	9.3%	(1.0%)	(19.3%)	28.1%	13.2%	21.3%	43.4%	(119.7%)	18.8%	31.6%	30.8%	32.0%	33.0%	35.8%	46.9%	38.3%	58.2%	36.5%	37.1%	36.8%	36.0%	36.4%	33.3%
Share count
Diluted shares outstanding	166	156	155	156	157	156	154	153	155	155	158	158	157	150	150	152	146	148	150	145	145	158	165	132	129	142	147	139	131	83	95	74	63	59	50	44

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990
Revenue and gross profit
Revenue	$9,416	$7,054	$6,127	$5,318	$4,616	$4,204	$3,685	$3,361	$3,121	$2,725	$2,423	$2,242	$2,057	$1,962	$1,756	$1,536	$1,381	$1,360	$1,337	$1,212	$1,096	$992	$1,092	$1,177	$907	$680	$784	$806	$718	$647	$526	$266	$196	$108	$63	$40	$22
Cost of revenue	($2,601)	($1,624)	($1,245)	($1,031)	($898)	($862)	($795)	($753)	($736)	($654)	($543)	($519)	($457)	($454)	($393)	($340)	($281)	($274)	($259)	($234)	($224)	($255)	($154)	($147)	($173)	($130)	($76)	($63)	($50)	($47)	($37)	($15)	($14)	($8)	($6)	($4)	($2)
Gross profit	$6,815	$5,431	$4,882	$4,287	$3,718	$3,342	$2,891	$2,608	$2,385	$2,071	$1,880	$1,723	$1,601	$1,509	$1,363	$1,195	$1,100	$1,086	$1,078	$978	$872	$737	$938	$1,030	$733	$550	$708	$743	$668	$600	$489	$250	$182	$100	$57	$37	$20
Operating expenses
Research and development	($2,882)	($2,479)	($2,082)	($1,850)	($1,590)	($1,505)	($1,279)	($1,137)	($1,085)	($909)	($857)	($776)	($719)	($669)	($582)	($492)	($449)	($420)	($395)	($379)	($371)	($317)	($284)	($286)	($226)	($190)	($189)	($167)	($154)	($115)	($84)	($59)	–	–	–	–	–
Selling, general and administrative	($718)	($770)	($568)	($377)	($314)	($323)	($285)	($229)	($263)	($197)	($166)	($165)	($155)	($144)	($157)	($113)	($115)	($119)	($104)	($451)	($443)	($434)	($424)	($401)	($472)	($344)	($348)	($289)	($293)	($215)	($162)	($124)	($139)	($72)	($41)	($28)	($14)
Total operating expenses	($6,013)	($4,516)	($3,526)	($3,014)	($2,569)	($2,608)	($2,270)	($2,088)	($2,025)	($1,723)	($1,562)	($1,457)	($1,352)	($1,262)	($1,173)	($982)	($915)	($878)	($859)	($860)	($843)	($797)	($848)	($835)	($814)	($550)	($601)	($508)	($491)	($474)	($396)	($198)	($151)	($80)	($46)	($32)	($15)
Total costs and expenses	($8,614)	($6,139)	($4,772)	($4,045)	($3,467)	($3,469)	($3,065)	($2,840)	($2,761)	($2,377)	($2,105)	($1,976)	($1,809)	($1,716)	($1,566)	($1,323)	($1,197)	($1,152)	($1,118)	($1,094)	($1,066)	($1,052)	($1,003)	($982)	($987)	($681)	($677)	($570)	($541)	($521)	($432)	($214)	($165)	($88)	($52)	($35)	($17)
Operating income	$802	$915	$1,356	$1,273	$1,149	$735	$620	$520	$360	$348	$317	$266	$249	$246	$190	$213	$184	$208	$219	$118	$29	($60)	$89	$195	($80)	($0)	$107	$236	$177	$126	$93	$52	$31	$20	$10	$5	$5
Earnings
EBITDA	$2,614	$1,575	$1,651	$1,520	$1,377	$938	$830	$722	$569	$537	$524	$478	$442	$434	$347	$341	$285	$310	$316	$223	$144	$109	$282	$379	$36	$65	$171	$288	$221	$165	$122	$68	$43	$28	$16	$9	$6
Interest income	$69	$278	$67	$37	$9	$2	$4	$7	$5	$7	$4	$3	$1	$2	$2	$2	$5	$11	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Interest expense	($624)	($447)	($37)	($1)	($2)	($3)	($5)	($12)	($16)	($7)	($4)	($3)	($2)	($2)	($2)	($0)	($0)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Pre-tax income	$1,299	$1,393	$1,514	$1,305	$1,103	$806	$638	$546	$364	$383	$330	$282	$272	$276	$201	$219	$199	$233	$219	$166	$44	($8)	$92	$219	($289)	$84	$146	$251	$119	$133	$40	$48	$25	$21	$11	$6	$5
Income tax expense	($223)	($56)	($100)	($90)	($139)	($49)	$25	($13)	$69	($247)	($63)	($56)	($13)	($28)	($19)	$2	$38	($65)	($29)	($35)	($19)	($9)	($17)	($69)	$89	($27)	($48)	($90)	($56)	($51)	($23)	($17)	($9)	($8)	($4)	($2)	($2)
Net income	$1,077	$1,332	$2,263	$1,230	$985	$758	$664	$532	$433	$137	$267	$226	$259	$248	$182	$221	$237	$168	$190	$130	$25	($15)	$74	$150	($200)	$57	$98	$161	$92	$72	$24	$30	$16	$13	$7	$4	$4
Per share
Diluted EPS (GAAP)	$5.65	$8.04	$14.51	$7.92	$6.29	$4.81	$4.27	$3.45	$2.82	$0.88	$1.73	$1.43	$1.64	$1.58	$1.21	$1.47	$1.56	$1.15	$1.29	$0.87	$0.17	($0.11)	$0.47	$0.91	($1.51)	$0.44	$0.69	$1.10	$0.65	$0.63	$0.14	$0.30	$0.12	$0.21	$0.12	$0.07	$0.09
Basic EPS (GAAP)	$5.69	$8.13	$14.78	$8.08	$6.44	$4.96	$4.40	$3.55	$2.90	$0.91	$1.76	$1.46	$1.67	$1.62	$1.24	$1.51	$1.60	$1.17	$1.33	$0.91	$0.17	($0.11)	$0.49	$0.95	($1.51)	$0.47	$0.72	$1.15	$0.67	$0.66	$0.14	$0.32	$0.15	$0.21	$0.12	$0.07	$0.09
Basic shares outstanding	190	164	153	152	153	153	151	150	149	150	152	155	155	153	147	147	148	144	143	144	143	145	152	158	132	121	137	140	133	125	83	95	74	63	59	50	44
Margins
Gross margin	72.4%	77.0%	79.7%	80.6%	80.5%	79.5%	78.4%	77.6%	76.4%	76.0%	77.6%	76.9%	77.8%	76.9%	77.6%	77.8%	79.6%	79.9%	80.6%	80.7%	79.6%	74.3%	85.9%	87.5%	80.9%	80.9%	90.3%	92.2%	93.1%	92.7%	93.0%	94.3%	92.7%	92.1%	90.5%	90.9%	91.9%
Operating margin	8.5%	13.0%	22.1%	23.9%	24.9%	17.5%	16.8%	15.5%	11.5%	12.8%	13.1%	11.9%	12.1%	12.6%	10.8%	13.9%	13.3%	15.3%	16.4%	9.7%	2.7%	(6.0%)	8.2%	16.6%	(8.9%)	(0.0%)	13.6%	29.2%	24.7%	19.4%	17.7%	19.6%	15.6%	18.5%	16.7%	12.6%	23.1%
Net margin	11.4%	18.9%	36.9%	23.1%	21.3%	18.0%	18.0%	15.8%	13.9%	5.0%	11.0%	10.1%	12.6%	12.6%	10.4%	14.4%	17.2%	12.3%	14.2%	10.8%	2.3%	(1.6%)	6.8%	12.7%	(22.1%)	8.3%	12.5%	20.0%	12.8%	11.2%	4.5%	11.4%	8.1%	12.2%	11.3%	8.6%	18.1%

Analyst consensus

Buy30 analysts

Bearish · 0 · Hold · 2 · Bullish · 28

Earnings history

	EPS	Estimate
Q4 2024	$3.40	$3.30	Beat
Q1 2025	$3.03	$2.79	Beat
Q2 2025	$3.67	$3.39	Beat
Q3 2025	$3.39	$3.80	Miss
Q4 2025	$2.90	$2.78	Beat
Q1 2026	$3.77	$3.56	Beat
Q2 2026	$3.35	$3.15	Beat
Q3 2026	$3.91	$3.67	Beat

Peers

Company overview

IPO dateFeb 26, 1992

CEOSassine Ghazi

Employees28,000

SectorTechnology

IndustrySoftware - Infrastructure

CountryUS

ExchangeNASDAQ Global Select

Websitewww.synopsys.com

Synopsys, Inc. is a leading provider of electronic design automation (EDA) software, instrumental in the creation and validation of integrated circuits. The company offers a robust portfolio of platforms, including the Fusion Design Platform for digital implementation, and the comprehensive Verification Continuum Platform. The latter provides a suite of solutions such as virtual prototyping, static and formal verification, simulation, emulation, and FPGA-based prototyping with integrated debugging tools. Synopsys also develops FPGA design products, which enable programming for specific functions. A significant part of its business involves intellectual property (IP) solutions. This encompasses IP for widely adopted communication standards like USB, PCI Express, DDR, Ethernet, SATA, MIPI, HDMI, and Bluetooth Low Energy. They also furnish analog IP, including data converters and audio codecs, alongside system-on-chip (SoC) infrastructure IP, specialized datapath and building block IP, and verification IP products. Furthermore, their offerings include mathematical and floating-point components, as well as Arm AMBA interconnect fabric and peripherals. Beyond core IP, Synopsys supplies logic libraries, embedded memories, and configurable processor cores, complemented by application-specific instruction-set processor tools for embedded applications. They also develop IP subsystems for audio, sensor, and data fusion functionalities, in addition to specialized security IP solutions. For advanced system design and analysis, Synopsys provides Platform Architect solutions for SoC architecture optimization, along with general virtual prototyping tools and HAPS FPGA-based prototyping systems. Their expertise extends to tools designed for optical systems and photonic devices. In addition to software and IP, the company delivers a range of services, including security testing, managed services, professional programs, and training. These services are designed to help customers identify and resolve security vulnerabilities and defects across the software development lifecycle. Manufacturing solutions are also part of their extensive offerings. Synopsys serves a diverse global client base, with applications across electronics, financial services, automotive, medicine, energy, and various industrial sectors. The company was founded in 1986 and is headquartered in Mountain View, California.

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