Stock Analysis on Net
Stock Analysis on Net

Cadence Design Systems Inc. (NASDAQ:CDNS)

$24.99

Common-Size Balance Sheet: Assets

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Cadence Design Systems Inc., common-size consolidated balance sheet: assets

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Cash and cash equivalents
Receivables, net
Inventories
Short-term investments
Other prepaid expenses and other assets
Prepaid expenses and other
Current assets
Property, plant and equipment, net
Goodwill
Acquired intangibles, net
Deferred taxes
Non-marketable investments
ROU operating lease assets
Other long-term assets
Other assets
Long-term assets
Total assets

Based on: 10-K (reporting date: 2024-12-31), 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).

Cash and Cash Equivalents
The proportion of cash and cash equivalents relative to total assets initially rose from 23.5% in 2020 to 24.83% in 2021, then declined sharply to 17.18% in 2022 and remained relatively steady in 2023 at 17.78%. A notable increase occurred in 2024, reaching 29.46%, the highest level in the observed period.
Receivables, net
The net receivables as a percentage of total assets fluctuated moderately, decreasing from 8.57% in 2020 to 7.7% in 2021, then peaking at 9.47% in 2022, followed by a gradual decline to 8.63% in 2023 and further down to 7.58% in 2024.
Inventories
Inventories showed a general increasing trend from 1.92% in 2020 to 3.2% in 2023, with a slight reduction to 2.87% in 2024. This indicates a moderate accumulation of inventory over time with a small correction in the latest period.
Short-term Investments
Short-term investments were minimal, starting at 0.11% in 2020 and maintaining low levels through 2022. A significant rise occurred in 2023 to 2.3%, followed by a reduction to 1.57% in 2024, suggesting some variability in short-term investment positioning.
Prepaid Expenses and Other Related Assets
Combined categories relating to prepaid expenses and other assets showed small variations. "Other prepaid expenses and other assets" increased from 3.32% in 2020 to a peak of 4% in 2022 before declining to 2.94% in 2023 and partially recovering to 3.27% in 2024. "Prepaid expenses and other" rose steadily from 3.44% in 2020 to a high of 5.24% in 2023, then decreased slightly to 4.83% in 2024.
Current Assets
Current assets as a proportion of total assets increased from 37.43% in 2020 to a high of 39.12% in 2021, then dropped to 33.22% in 2022. They experienced a moderate rise again in 2023 to 34.86%, followed by a substantial jump to 44.75% in 2024, indicating a growing liquidity or short-term resource base in the latest year.
Property, Plant and Equipment, Net
The net property, plant, and equipment figure steadily declined from 7.88% in 2020 to 5.11% in 2024, showing a gradual reduction in fixed asset intensity compared to total assets over the period.
Goodwill
Goodwill increased considerably from 19.8% in 2020 to 27.09% in 2023 and slightly decreased to 26.5% in 2024. This trend suggests ongoing acquisitions or intangible asset recognition contributing significantly to asset composition.
Acquired Intangibles, Net
After stability around 5.3% in 2020 and 2021, acquired intangibles rose to 6.9% in 2022, dipped to 5.94% in 2023, and increased again to 6.63% in 2024. This indicates fluctuations in intangible asset valuations or amortization patterns.
Deferred Taxes
Deferred tax assets steadily decreased from 18.54% in 2020 to 10.94% in 2024, representing a significant reduction in this asset category relative to total assets, which could reflect changes in tax positions or accounting estimates.
Non-marketable Investments
There was a continuous decline in non-marketable investments, dropping from 3.35% in 2020 to 1.38% in 2024, indicating divestitures or write-downs in this asset segment.
ROU Operating Lease Assets
Right-of-use lease assets decreased from 3.38% in 2020 to 1.63% in 2024, showing diminishing lease asset balances or lease expirations over time.
Other Long-term Assets
Other long-term assets fluctuated moderately, declining from 4.32% in 2020 to 3.06% in 2024, with intermediate variability suggesting slight asset reclassifications or disposals.
Other Assets
Other assets consistently decreased from 11.04% in 2020 to 6.07% in 2024, indicating a significant reduction in miscellaneous asset components within the company's total asset base.
Long-term Assets
The total proportion of long-term assets showed a downward trend after peaking at 66.78% in 2022, declining to 55.25% in 2024. This overall decrease reflects shifts toward more current asset holdings or asset base simplification.
Total Assets
Total assets consistently sum to 100% by definition for each year, serving as the denominator for all calculations.