Synopsys (SNPS) 10-K Summary — Year Ended Oct 31, 2023
Synopsys provides software and services for semiconductor design and verification. The company reported higher revenue and operating income for the period, with operating cash flow exceeding net income.
Key takeaway
Year ended Oct 31, 2023 · FY2025 10-K
Synopsys provides software and services for semiconductor design and verification. The company reported higher revenue and operating income for the period, with operating cash flow exceeding net income.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$5.3B
Revenue reported for the fiscal year.
Operating income
$1.3B
Income from operations reported for the year.
Net income
$1.2B
Net income reported for the year.
Operating cash flow
$1.7B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Oct 31, 2021 | $4.2B | n/a |
| Oct 31, 2022 | $4.6B | +9.8% |
| Oct 31, 2023 | $5.3B | +15.2% |
Business overview
Synopsys is a provider of electronic design automation software and services used to design and verify semiconductors and electronic systems. The company also offers intellectual property and software security products. Its offerings support customers in developing complex integrated circuits and software applications.
Financial performance
Revenue increased compared to the prior year, and operating income also rose. Net income was lower than operating cash flow, indicating strong cash generation from operations. The trend shows revenue growth over the past three reported periods.
Material risks
The filing identifies risks related to cybersecurity, unresolved staff comments, and potential changes in liquidity. The company notes that a portion of cash is held in foreign jurisdictions, which may be subject to withholding taxes. No other specific material risks are detailed in the supplied context.
Liquidity and capital
The company relies on operating cash flow and credit facilities for liquidity. It held significant cash and short-term investments, with a portion overseas, and believes existing resources are sufficient for near-term needs and capital return programs.
What to watch
Monitor any changes in the company's cash position held in foreign jurisdictions and related tax provisions.