Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Cadence Design Systems Inc., consolidated balance sheet: assets

US$ in thousands

	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash and cash equivalents	3,001,317)	2,644,030)	1,008,152)	882,325)	1,088,940)
Receivables, net	944,939)	680,460)	489,224)	486,710)	337,596)
Inventories	303,545)	257,711)	181,661)	128,005)	115,721)
Short-term investments	154,213)	140,625)	130,359)	4,490)	5,956)
Other prepaid expenses and other assets	265,659)	293,253)	166,821)	205,237)	167,556)
Prepaid expenses and other	419,872)	433,878)	297,180)	209,727)	173,512)
Current assets	4,669,673)	4,016,079)	1,976,217)	1,706,767)	1,715,769)
Property, plant and equipment, net	517,004)	458,200)	403,213)	371,451)	305,911)
Goodwill	2,749,143)	2,378,671)	1,535,845)	1,374,268)	928,358)
Acquired intangibles, net	718,223)	594,734)	336,843)	354,617)	233,265)
Deferred taxes	917,733)	982,057)	880,001)	853,691)	763,770)
Long-term investments	67,517)	124,086)	138,321)	119,997)	127,501)
ROU operating lease assets	175,964)	146,190)	150,797)	170,379)	130,124)
Other long-term assets	337,891)	274,465)	248,254)	185,901)	181,601)
Other assets	581,372)	544,741)	537,372)	476,277)	439,226)
Long-term assets	5,483,475)	4,958,403)	3,693,274)	3,430,304)	2,670,530)
Total assets	10,153,148)	8,974,482)	5,669,491)	5,137,071)	4,386,299)

Based on: 10-K (reporting date: 2025-12-31), 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).

The company’s total assets experienced substantial growth over the five-year period, increasing from approximately US$4.39 billion in 2021 to US$10.15 billion in 2025. This growth was primarily driven by significant increases in both current and long-term assets. A notable acceleration in asset growth is observed between 2023 and 2025.

Current Assets: Current assets demonstrated a generally increasing trend, though with some fluctuation. After remaining relatively stable between 2021 and 2022, current assets increased significantly in 2024 and 2025, rising from US$1.98 billion to US$4.67 billion. This increase was largely attributable to substantial growth in cash and cash equivalents, receivables, and inventories. Specifically, cash and cash equivalents more than tripled between 2021 and 2025. Receivables also exhibited a consistent upward trend, nearly doubling over the period. Inventory levels also increased steadily.
Long-Term Assets: Long-term assets also showed a consistent upward trend, increasing from US$2.67 billion in 2021 to US$5.48 billion in 2025. Goodwill constituted a significant and growing portion of these assets, more than doubling over the period. Acquired intangibles also increased substantially, though at a slower rate than goodwill. Property, plant, and equipment, net, experienced more moderate growth. Deferred taxes remained relatively stable, with minor fluctuations. Long-term investments decreased slightly in 2025.
Asset Composition: The composition of assets shifted over the period. While long-term assets initially represented a larger proportion of total assets, the rapid growth of current assets in 2024 and 2025 resulted in current assets comprising a larger percentage of the total asset base by 2025. Goodwill and acquired intangibles collectively represent a substantial portion of long-term assets, indicating a significant role of acquisitions in the company’s growth strategy.

Overall, the asset base expanded considerably during the analyzed period, with both current and long-term assets contributing to the growth. The increasing levels of cash and cash equivalents, receivables, and inventories suggest a potential increase in operational activity and sales. The substantial growth in goodwill and acquired intangibles highlights the importance of acquisitions in the company’s expansion.

Cadence Design Systems Inc. (NASDAQ:CDNS)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items