SYNOPSYS INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data SYNOPSYS INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	2,423	2,725	3,121	3,361	3,685	4,204	5,082	5,318	6,127	7,054
Cost of revenue	543	654	736	753	795	862	898	1,031	1,245	1,624
Gross profit	1,880	2,071	2,385	2,608	2,891	3,342	3,718	4,287	4,882	5,431
Research and development	857	909	1,085	1,137	1,279	1,505	1,590	1,850	2,082	2,479
Selling and marketing	502	549	623	633	632	712	643	725	859	1,074
General and administrative	166	197	263	229	285	323	314	377	568	770
Operating expenses	1,562	1,723	2,025	2,088	2,270	2,608	2,569	3,014	3,526	4,516
Operating income	317	348	360	520	620	735	1,149	1,273	1,356	915
Interest expense	3.77	7.3	15.6	11.7	5.14	3.37	1.7	1.18	36.8	447
Interest income	3.72	7.24	5.32	6.86	3.56	2.44	8.55	36.7	67	278
Other non-operating income	12.2	35.5	3.32	25.3	18	70.7	-45.3	34.9	195	925
Pre-tax income	330	383	364	546	638	806	1,103	1,305	1,514	1,393
Income tax	62.7	247	-69	13.1	-25.3	49.2	139	90.2	99.7	56
Income from continuing operations							970	1,227	1,442	1,336
Net income to minority interests			0	0	-0.9	-1.16	-6.16	-11.8	-27.6	1.03
Net income	267	137	433	532	664	758	985	1,230	2,263	1,332
EBITDA	524	537	569	722	830	938	1,377	1,520	1,651	1,575
EPS, basic	1.76	0.91	2.90	3.55	4.40	4.96	6.44	8.08	14.78	8.13
EPS, diluted	1.73	0.88	2.82	3.45	4.27	4.81	6.29	7.92	14.51	8.04
Shares, basic (weighted)	152	150	149	150	151	153	153	152	153	164
Shares, diluted (weighted)	155	155	153	154	156	157	156	155	156	166

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	977	1,048	723	729	1,236	1,433	1,418	1,434	3,897	2,888
Short-term investments	141	0			0	148	148	152	154	72.9
Receivables	439	451	554	554	781	569	796	857	934	1,505
Inventory		61.9	122	142	192	229	212	326	362	365
Other current assets	105	73	67.5	290	308	430	439	548	1,123	1,181
Total current assets	1,717	1,683	1,544	1,739	2,549	2,808	3,013	3,431	6,470	6,012
Property, plant and equipment	257	266	309	430	484	472	483	550	563	697
Lease right-of-use assets				0	466	493	559	560	566	702
Goodwill	2,518	2,707	3,143	3,171	3,365	3,576	3,121	3,346	3,449	26,899
Intangible assets	267	254	360	279	254	279	386	240	195	12,680
Other non-current assets	186	223	247	381	414	511	464	445	584	1,123
Total assets	5,240	5,396	6,146	6,405	8,030	8,752	9,418	10,333	13,074	48,224
Accounts payable	13.7	20	85	19.8	30	27.4	37.6	155	207	165
Accrued liabilities	321	383	413	417	493	582	560	532	625	823
Deferred revenue	1,086	1,065	1,153	1,212	1,388	1,518	1,911	1,559	1,392	2,246
Short-term debt	205	9.92	344	17.6	27.1	75	0		0	22.1
Total current liabilities	1,715	1,614	2,102	1,752	2,140	2,413	2,774	2,985	2,650	3,722
Long-term debt	0	134	126	120	101	25.1	20.8	18.1	15.6	13,462
Lease liabilities				0	462	487	581	580	574	681
Other non-current liabilities	211	252	266	324	285	391	328	382	470	1,649
Total liabilities	2,045	2,117	2,661	2,316	3,118	3,453	3,859	4,149	4,050	19,897
Total debt	0	134	126	120	101	25.1	20.8	18.1	15.6	13,485
Paid-in capital	1,645	1,622	1,645	1,635	1,653	1,576	1,487	1,276	1,211	18,641
Retained earnings	1,948	2,144	2,544	3,164	3,795	4,550	5,534	6,742	8,984	10,315
Treasury stock	-294	-426	-598	-626	-489	-783	-1,273	-1,676	-1,026	-398
Other comprehensive income	-105	-66	-113	-92.4	-54.1	-49.6	-234	-196	-180	-232
Shareholders' equity	3,195	3,276	3,479	4,083	4,907	5,295	5,516	6,147	8,991	28,328
Minority interests	0	4.1	5.86	5.86	4.96	3.81	4.8	5.95	2.5	-0.59
Total equity	3,195	3,280	3,485	4,089	4,912	5,299	5,521	6,153	8,993	28,327
Total liabilities and equity	5,240	5,396	6,146	6,405	8,030	8,752	9,418	10,333	13,074	48,224
Shares outstanding	151	150	149	150	153	153	152	152	154	186

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	267	137	433	532	663	756	978	1,218	2,236	1,333
Depreciation and amortization	207	189	209	202	210	204	228	247	295	660
Stock-based compensation	97.6	108	140	155	249	345	459	563	692	893
Deferred income tax	-14	123	-210	-82.6	-112	-129	-36.3	-208	-376	-464
Change in receivables	-43.3	2.3	-95.8	-8.58	-237	202	-251	-178	-103	-174
Change in inventory	-32.1	-20.1	-65.8	-17.4	-55	-48	1.32	-124	-51.4	-22.5
Change in payables	19	138	49	-19.3	114	125	-34.1	170	188	-13.5
Cash from operations	587	632	424	801	991	1,493	1,739	1,703	1,407	1,519
Capital expenditures	-66.9	-70.3	-99	-198	-155	-93.8	-137	-190	-140	-169
Purchases of investments	-169	-155	0	0	0	-162	-97.2	-131	-137	-65.7
Sales and maturities of investments	156	296	12.4	0	0	12.9	93.7	130	139
Cash from investing	-143	-189	-744	-236	-360	-549	-573	-482	1,223	-15,881
Debt issued								0	0	14,329
Debt repaid	-185	-381	-295	-524	-289	-28.1	-76.8	-2.6	-2.61	-864
Share buybacks	-400	-380	-400	-329	-242	-753	-1,100	-1,161	0	0
Cash from financing	-307	-373	5.14	-562	-141	-749	-1,116	-1,197	-181	13,356
Exchange rate effect	3.41	-0.43	-11.1	2.78	17.2	2.37	-65.3	-2.98	8.8
Net change in cash	140	69.7	-325	5.53	507	197	-15.3	21.3	2,458	-1,005
Free cash flow	520	562	325	602	837	1,399	1,602	1,514	1,268	1,349
Interest paid	3.71	7.1	15.3	12.4	5.14	3.37	1.26	1	0.81	354
Income taxes paid	69.4	103	253	75.7	70.7	150	168	98	680	513

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to July 31, 2026; growth uses fiscal years. Valuation uses the share price of $425.76 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	72.4%	Gross profit / revenue.
Operating margin	8.5%	Operating income / revenue.
EBITDA margin	27.8%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	13.8%	Pre-tax income / revenue.
Net margin	11.4%	Net income / revenue.
FCF margin	29.2%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	31.2%	Cash from operations / revenue.
Effective tax rate	17.2%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	3.5%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	2.3%	Net income / average total assets.
Return on invested capital (ROIC)	1.8%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	30.6%	Research and development expense / revenue.
Stock-based pay / revenue	10.1%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.0%	Capital expenditures / revenue.
D&A / revenue	19.2%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	15.1%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	11.6%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	13.9%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	11.2%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	13.5%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	13.4%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-32.5%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-7.3%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	8.1%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-4.6%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	4.6%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	13.7%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-41.1%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	10.6%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	14.9%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-44.6%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	8.5%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	13.5%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	7.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-4.4%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	8.9%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	6.4%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-5.6%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	10.0%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	215.1%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	72.5%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	42.0%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	268.9%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	72.4%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	43.1%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	6.2%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	1.9%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	1.2%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.34x	Current assets / current liabilities.
Quick ratio	0.99x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.73x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.32x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	21.0%	Total debt / total assets.
Liabilities / assets	34.7%	Total liabilities / total assets.
Net debt	$6.43B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	2.46x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	1.29x	Operating income / interest expense.
Working capital	$1.67B	Current assets - current liabilities.
Goodwill and intangibles / assets	80.2%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$7.14B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.20x	Revenue / average total assets.
Fixed asset turnover	12.6x	Revenue / average property, plant and equipment.
Inventory turnover	5.43x	Cost of revenue / average inventory.
Days inventory	67 days	365 x average inventory / cost of revenue.
Receivables turnover	7.14x	Revenue / average receivables.
Days sales outstanding	51 days	365 x average receivables / revenue.
Days payables	26 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	92 days	Days inventory + days sales outstanding - days payables.
FCF conversion	255.2%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	6.5%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$5.60	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$48.96	Revenue / diluted weighted shares.
FCF per share	$14.29	Free cash flow / diluted weighted shares.
Operating cash flow per share	$15.28	Cash from operations / diluted weighted shares.
Book value per share	$162.59	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$37.27	Tangible book value / shares outstanding.
Cash per share	$18.83	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$81.52B	Share price x shares outstanding.
Enterprise value	$87.95B	Market cap + total debt - cash - short-term investments.
P/E	75.7x	Market cap / net income. Only when net income is positive.
P/S	8.66x	Market cap / revenue.
P/B	2.62x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	29.7x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	27.7x	Market cap / cash from operations, when positive.
EV/Sales	9.34x	Enterprise value / revenue.
EV/EBIT	110x	Enterprise value / operating income, when both are positive.
EV/EBITDA	33.7x	Enterprise value / EBITDA, when both are positive.
EV/FCF	32.0x	Enterprise value / free cash flow, when both are positive.
FCF yield	3.4%	Free cash flow / market cap.
Earnings yield	1.3%	Net income / market cap (the inverse of P/E).
PEG	8.88x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was SYNOPSYS INC's revenue in fiscal 2025?

SYNOPSYS INC reported revenue of $7.05B for fiscal 2025, 15.1% higher than the year before.

Was SYNOPSYS INC profitable in fiscal 2025?

Yes. Net income was $1.33B, a net margin of 18.9%.

How much free cash flow did SYNOPSYS INC generate in fiscal 2025?

Cash from operations of $1.52B minus capital expenditures of $169.5M left free cash flow of $1.35B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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