23 / 26 · EDA + IP

SNPS

Synopsys

1.5%target weight

Latest available close$494.51-1.6% · vs previous close

DAILY CLOSE · USD2026-10-13Yahoo Finance ↗

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Explore a date

Daily candles, not a live feed. Price series is split-adjusted; total-return mode uses provider-adjusted prices including distributions. The chart does not predict returns.

A great business. At what price?

Test earnings growth against a change in valuation. All multiples below are your assumptions — not current company fundamentals.

Illustrative price CAGR—

CAGR = (1 + EPS growth) × (exit P/E ÷ entry P/E)^(1/years) − 1. Excludes dividends, dilution beyond EPS, taxes and fees. Not a price target. Not suitable for gold, bonds or companies with negative earnings.

RESEARCH ENGINE / 1.2

What must this price deliver?

Inspect reported numbers, test your assumptions and follow the next filing. A calculation is not an approved investment case.

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NORMALIZATION / v1.0.0

Normalization workpaper

A company-specific protocol, not an approved normalized cash flow.

Reported proxy available · normalization pending

Model familySum-of-parts segment DCF

OCF − cash capex / diluted share8.14 USD

Price / reported cash proxy47.27×

Required adjustment tests

acquisitions
Build a pro-forma organic base and include the full capital paid for acquisitions.
net debt
Reconcile debt, cash, preferred claims and acquisition funding exactly once.
sbc
Measure dilution and treat share compensation consistently with per-share cash.
nonoperating
Remove investment revaluations, disposal gains and other non-operating items.

Reported financial base

Annual period: 2024-11-01 → 2025-10-31Filed: 2025-12-22Reporting currency: USDLast source retrieval: 2026-09-18T22:00:49.022Z

Unreviewed extraction

Reported financial base
Metric	Value	Unit	Source
Revenue	7,054,178,000	USD	us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax ↗
Operating income	914,927,000	USD	us-gaap:OperatingIncomeLoss ↗
Net income	1,332,220,000	USD	us-gaap:NetIncomeLoss ↗
Operating cash flow	1,518,608,000	USD	us-gaap:NetCashProvidedByUsedInOperatingActivities ↗
Cash capital expenditure	169,454,000	USD	us-gaap:PaymentsToAcquirePropertyPlantAndEquipment ↗
Share-based compensation	893,294,000	USD	us-gaap:ShareBasedCompensation ↗
Weighted diluted shares	165,656,000	shares	us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding ↗
Cash and equivalents	2,888,030,000	USD	us-gaap:CashAndCashEquivalentsAtCarryingValue ↗
Current long-term debt	22,117,000	USD	us-gaap:LongTermDebtCurrent ↗
Noncurrent long-term debt	13,462,398,000	USD	us-gaap:LongTermDebtNoncurrent ↗

OCF − cash capex (not normalized)1,349,154,000 USDNormalized owner cash: not approved

Annual figures, not trailing twelve months. No automatic currency/ADR conversion. Cash proxy excludes review of leases, debt service, SBC, acquisitions and cycle. Missing values are not zero.

Company-specific method

DCF with acquisition funding and normalized adjustments; reconcile GAAP to non-GAAP rather than selecting the larger EPS.

Your scenario · not our forecast

Equity-per-share DCF: do not subtract net debt again. Future dilution must already be included in cash-per-share growth. This does not measure analyst consensus. Replacement capex and sustainable terminal cash still require review.

What changed?

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FUNDAMENTAL RESEARCH · 2026-09-06

The investment case, under examination.

A dated research map, not completed valuations. The 25-company portfolio baseline is unchanged; IBM is monitored at 0% outside it. Public facts do not establish an edge: every hypothesis still needs normalized financials, price-implied expectations and independent forward tests.

Hypothesis · not a trading signal

Q3 FY2026 · Published 2026-08-26 · Source checked 2026-09-06

01 / What the issuer reported: Revenue was $2.477bn; GAAP EPS $2.84 versus non-GAAP EPS $3.91 for the quarter.
02 / Our hypothesis — not established alpha: Verification, IP and broader engineering tools may deepen the customer relationship, but purchased growth must earn its capital cost.
03 / What to measure next: Organic versus acquired growth, IP licensing, cash conversion, debt, integration expenses and diluted shares.
04 / What would challenge the thesis: Reassess if integration/dilution prevents recurring cash earnings per share from improving, or IP demand deteriorates.
05 / Appropriate valuation method: DCF with acquisition funding and normalized adjustments; reconcile GAAP to non-GAAP rather than selecting the larger EPS.
06 / Still missing: Missing: pro-forma organic base and justified treatment of each earnings adjustment.

No measured consensus gap or approved price target. A familiar good business can still be an expensive stock.

Read the primary source ↗

Issuer-reported figures, not an independent accounting audit. Review after the next report or material filing. These review triggers are proposed, not automatic sell rules. Weights and paper mandates are unchanged.

Why this position exists

EDA, IP and verification

Every generation of more complex silicon requires more design automation, verification and reusable IP.

Principal risk

Integration risk, regulation, valuation and the semiconductor cycle.

What the daily radar monitors

01EDA growthPRIMARY KPI

02IP backlogTREND + GUIDANCE

03Integration milestonesTHESIS TRIGGER

Decision rule

A headline never changes a weight by itself. The system verifies the primary source, tests the KPI trend and creates a proposal for the investment committee.