Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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- Income Statement
- Statement of Comprehensive Income
- Common-Size Income Statement
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Geographic Areas
- Common Stock Valuation Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Net Profit Margin since 2005
- Debt to Equity since 2005
- Price to Sales (P/S) since 2005
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Cadence Design Systems Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 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).
The overall capital structure exhibits a gradual shift toward a higher reliance on liabilities over the analyzed period. Total liabilities as a percentage of total liabilities and stockholders’ equity increased from 36.42% in April 2021 to 45.77% by March 2026, indicating a strategic move toward higher leverage.
- Liability Composition and Liquidity
- Current liabilities demonstrated a general downward trend from a peak of 26.23% in December 2022 to 17.87% by March 2026. This reduction is primarily driven by a decrease in the current portion of deferred revenue, which fell from highs of 14.22% in July 2021 to 7.22% by March 2026. Accounts payable and accrued liabilities remained relatively stable, fluctuating between 6% and 11%, suggesting consistent operational spending patterns.
- Long-Term Debt Profile
- Long-term debt, excluding the current portion, experienced significant volatility. After maintaining a stable range of approximately 8% through early 2022, the ratio spiked to 13.04% in October 2022, dipped to 5.29% by December 2023, and then rose sharply to a peak of 27.59% in December 2024. By March 2026, this figure moderated to 20.51%. This pattern indicates periods of aggressive borrowing, potentially for strategic acquisitions or capital investments, followed by periods of deleveraging.
- Deferred Revenue Trends
- A sustained contraction is observed in both current and long-term deferred revenue. Current deferred revenue declined from 13.03% in April 2021 to 7.22% in March 2026, while long-term deferred revenue decreased from 2.31% to 1.21% over the same period. This downward trajectory suggests a shift in the timing of revenue recognition or a change in the volume of advance payments received from customers.
- Stockholders’ Equity and Capital Management
- Total stockholders’ equity declined from 63.58% in April 2021 to 54.23% by March 2026. Retained earnings showed a strong upward trend, peaking at 90.60% in March 2023 before declining to 61.47% by March 2026. This decline in retained earnings, paired with the substantial and fluctuating negative values of treasury stock (which reached a peak negative of -84.59% in March 2023 and ended at -54.02% in March 2026), indicates an aggressive share repurchase program used to manage equity levels and return value to shareholders.
In summary, the financial profile is characterized by an increasing total liability ratio, driven largely by a significant increase in long-term debt during 2024 and 2025, and a simultaneous reduction in deferred revenue. The equity position has been heavily influenced by aggressive treasury stock activity and fluctuations in retained earnings.