CDNS

Nasdaq

CADENCE DESIGN SYSTEMS INC

Information Technology, Application Software

$339.24

close 7 Aug 2026

-2.82%

52-week change

$93.57B

market cap

$262.75

$416.69

52-week range

Expected price

$279.82 – $342.00

Current price

$339.24

Signal

Appears fairly valued

A historical-multiple reference, never a fair-value claim. The band uses only data public at each date and ends at the latest month — no forward estimates.

Current multiples

P/E (TTM)79.08x

P/S (TTM)16.92x

P/B14.26x

EV/EBITDA (TTM)52.20x

FCF yield (TTM)1.53%

PEG (TTM, GAAP)8.30

Context

P/E, own 5-year average72.73x

P/E, sector median37.34x*

Price at 5-year median P/E$311.50*

Forward — analyst consensus

Forward P/E (FY2026)70.66x*

Forward P/E (FY2027)35.57x

Forward PEG0.72*

Consensus EPS FY2026 (12 analysts)$4.80

EPS growth (FY2026→FY2027)98.64%

Revenue growth (FY2026)19.28%

Street view

Price target (mean)$403.67*

Target upside18.99%

Ratings (buy / hold / sell)22 / 3 / 0

FY2026 EPS revisions, 30d (up / down)1 / 1

5-year history

Dashed line: average of month-end values

P/E (TTM)

P/S (TTM)

P/B

FCF yield (TTM)

period to 31 Mar 2026, filed 1 May 2026, close 7 Aug 2026

Discounted cash flow

Ten projected years plus a perpetuity, prefilled from filings — a model to argue with, never a fair-value claim.

Free cash flow, last ten years and TTM

5Y CAGR +14.39%10Y CAGR +16.89%

Assumptions

Growth rate, years 1–10%

Perpetual growth%Discount rate%

Base FCF$M

As filed — not assumptions

Current price$339.24

Cash & equivalents$1.41B

Total debt$2.91B

Shares outstanding275.82M

Result

DCF price per share$238.33

Current price$339.24

Margin of safety-29.75%

PV of years 1–10$19.88B

PV of terminal value$47.35B

Equity value$65.73B

Market-implied growth+18.92%

Projected FCF, years 1–10

Hover for PV and growth

Projection detail

Override growth for any year; blank years use the uniform rate

Year	2026	2027	2028	2029	2030	2031	2032	2033	2034	2035	Terminal
Growth, %											2.5
FCF	$1.64B	$1.87B	$2.14B	$2.45B	$2.80B	$3.20B	$3.66B	$4.19B	$4.80B	$5.49B	$102.22B
PV	$1.51B	$1.60B	$1.70B	$1.80B	$1.91B	$2.02B	$2.14B	$2.26B	$2.40B	$2.54B	$47.35B

period to 31 Mar 2026, filed 1 May 2026, close 7 Aug 2026