Synopsys Inc., current enterprise value calculation

Current share price (P)	$425.97
No. shares of common stock outstanding	185,748,673
US$ in thousands
Common equity (market value)¹	79,123,362)
Add: Preferred stock, $0.01 par value; none outstanding (per books)	—)
Add: Non-controlling interest (per books)	2,504)
Total equity	79,125,866)
Add: Short-term debt (per books)	—)
Add: Long-term debt (per books)	15,601)
Total equity and debt	79,141,467)
Less: Cash and cash equivalents	3,896,532)
Less: Short-term investments	153,869)
Enterprise value (EV)	75,091,066)

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

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 425.97 × 185,748,673

Synopsys Inc., EV calculation

	Oct 31, 2024	Oct 31, 2023	Oct 31, 2022	Oct 31, 2021	Oct 31, 2020	Oct 31, 2019
Share price^1, 2	$493.35	$567.06	$334.34	$362.23	$242.74	$139.88
No. shares of common stock outstanding¹	154,578,449	151,986,878	152,417,194	153,438,336	153,032,497	150,534,877
US$ in thousands
Common equity (market value)³	76,261,278)	86,185,679)	50,959,165)	55,579,968)	37,147,108)	21,056,819)
Add: Preferred stock, $0.01 par value; none outstanding (book value)	—)	—)	—)	—)	—)	—)
Add: Non-controlling interest (book value)	2,504)	5,950)	4,801)	3,806)	4,963)	5,863)
Total equity	76,263,782)	86,191,629)	50,963,966)	55,583,774)	37,152,071)	21,062,682)
Add: Short-term debt (book value)	—)	—)	—)	74,992)	27,084)	17,614)
Add: Long-term debt (book value)	15,601)	18,078)	20,824)	25,094)	100,823)	120,093)
Total equity and debt	76,279,383)	86,209,707)	50,984,790)	55,683,860)	37,279,978)	21,200,389)
Less: Cash and cash equivalents	3,896,532)	1,438,913)	1,417,608)	1,432,840)	1,235,653)	728,597)
Less: Short-term investments	153,869)	151,639)	147,913)	147,949)	—)	—)
Enterprise value (EV)	72,228,982)	84,619,155)	49,419,269)	54,103,071)	36,044,325)	20,471,792)

Based on: 10-K (reporting date: 2024-10-31), 10-K (reporting date: 2023-10-31), 10-K (reporting date: 2022-10-31), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-10-31), 10-K (reporting date: 2019-10-31).

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Synopsys Inc. Annual Report.

³ 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 493.35 × 154,578,449

The analyzed financial data reveals several notable trends across the periods from October 31, 2019, to October 31, 2024.

Common equity (market value): There is a significant increase in common equity market value from 21,056,819 thousand USD in 2019 to a peak of 86,185,679 thousand USD in 2023. However, this is followed by a decline to 76,261,278 thousand USD in 2024. This indicates a strong growth trajectory over the initial years, peaking in 2023, before experiencing a moderate decrease in the most recent year.
Total equity: Total equity mirrors the trend seen in common equity market value, beginning at 21,062,682 thousand USD in 2019 and rising sharply to 86,191,629 thousand USD in 2023. It then marginally falls to 76,263,782 thousand USD in 2024. The close alignment of total equity figures with common equity market value suggests limited additional components affecting equity beyond common equity.
Total equity and debt: The total of equity and debt follows a similar pattern, starting at 21,200,389 thousand USD in 2019, rising steeply to 86,209,707 thousand USD in 2023, before decreasing to 76,279,383 thousand USD in 2024. The similarity in growth and decline patterns compared to equity alone hints at relatively stable debt levels during the period, with the majority of changes driven by equity fluctuations.
Enterprise value (EV): Enterprise value exhibits analogous behavior, increasing from 20,471,792 thousand USD in 2019 to a substantial high of 84,619,155 thousand USD in 2023. The value then diminishes to 72,228,982 thousand USD in 2024. This reflects market valuation dynamics consistent with the movements observed in both equity and total capitalization measures.

Overall, the data portrays a strong expansion phase in capital metrics between 2019 and 2023, marked by almost fourfold increases in market value and equity measures. The subsequent decrease in 2024 across all metrics suggests either a market correction, changes in capital structure, or other external factors impacting valuation and equity. The close correlation between equity and total financing (equity plus debt) implies a consistent capital structure without major shifts in leverage during the period. The enterprise value tracking closely with equity and total capitalization supports the interpretation of stable debt levels and market valuation movements primarily driven by changes in equity value.

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Synopsys Inc. (NASDAQ:SNPS)

Enterprise Value (EV)

Current Enterprise Value (EV)

Historical Enterprise Value (EV)