Synopsys, Inc. (SNPS) Cash Flow Statement
Where SNPS’s cash came from and went, FY2025
October 31, 2025 · U.S. dollars- Cash from operations
- $1.52B +7.9% vs FY2024
- Capital expenditures
- $169.5M 2.4% of revenue
- Free cash flow
- $1.35B 19.1% margin
- Returned to shareholders
- —
- Change in cash
- −$1.01B cash at year-end $2.89B
Cash from operations
$1.52B
Capital expenditures
−$169.5M
Investments (net)
+$149.0M
Acquisitions & other
−$15.89B
Net borrowing (repayment)
+$13.47B
Shares issued
+$228.4M
Other financing
−$308.4M
Change in cash
−$1.01B
Drawn to scale: where the cash came from and how it was used. Hover for values.
SNPS operating cash flow, capex and free cash flow
Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)
SNPS cash flow trends, FY2016–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $586.6MFY2016 | $1.52BFY2025 | +11.1%/yr | |
| Capital expenditures | $71.0MFY2016 | $169.5MFY2025 | +10.1%/yr | |
| Free cash flow | $515.6MFY2016 | $1.35BFY2025 | +11.3%/yr | |
| Free cash flow margin | 21.3%FY2016 | 19.1%FY2025 | −2.2 pts | |
| Operating cash flow / net income | 2.20FY2016 | 1.14FY2025 | −1.06 | |
| Stock-based compensation | $97.6MFY2016 | $893.3MFY2025 | +27.9%/yr | |
| Dividends paid | $185.0MFY2016 | $276.5MFY2020 | +10.6%/yr | |
| Share buybacks (net) | $400.0MFY2016 | $0FY2025 | −100.0% | |
| Capex / revenue | 2.9%FY2016 | 2.4%FY2025 | −0.5 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
SNPS cash flow by activity
OperatingInvestingFinancingChange in cash
SNPS net income vs operating cash flow
Net incomeOperating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
SNPS cash flow statement
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | $1.33B | $2.24B | $1.22B | $978.4M | $756.4M | $664.3M | $532.4M | $432.5M | $136.6M | $266.8M |
| Depreciation & amortization | $660.4M | $295.1M | $247.1M | $228.4M | $203.7M | $210.0M | $201.7M | $209.2M | $189.4M | $207.0M |
| Stock-based compensation | $893.3M | $692.3M | $563.3M | $459.0M | $345.3M | $248.6M | $155.0M | $140.0M | $108.3M | $97.6M |
| Change in working capital | −$496.6M | −$707.6M | −$327.3M | −$59.3M | $130.2M | −$188.5M | −$75.3M | −$149.5M | $71.7M | $28.3M |
| Other non-cash items | −$871.8M | −$1.11B | $2.1M | $132.4M | $57.1M | $56.9M | −$13.2M | −$208.1M | $128.6M | −$13.1M |
| Cash from operating activities | $1.52B | $1.41B | $1.70B | $1.74B | $1.49B | $991.3M | $800.5M | $424.2M | $634.6M | $586.6M |
| Investing activities | ||||||||||
| Capital expenditures | −$169.5M | −$123.2M | −$191.8M | −$139.1M | −$95.7M | −$158.8M | −$202.4M | −$101.9M | −$73.6M | −$71.0M |
| Investments (net) | $149.0M | $1.22B | −$482.1M | −$572.6M | −$156.5M | −$611,000 | $3.1M | $9.4M | $141.4M | −$11.6M |
| Acquisitions & other investing | −$15.89B | $123.2M | $191.8M | $139.1M | −$296.8M | −$201.0M | −$36.6M | −$651.0M | −$257.1M | −$60.1M |
| Cash from investing activities | −$15.91B | $1.22B | −$482.1M | −$572.6M | −$549.0M | −$360.4M | −$235.9M | −$743.5M | −$189.3M | −$142.7M |
| Financing activities | ||||||||||
| Dividends paid | — | — | — | — | — | −$276.5M | −$192.9M | −$620.6M | −$320.0M | −$185.0M |
| Share repurchases & issuance (net) | $0 | −$337.5M | −$1.16B | −$1.10B | −$753.1M | −$242.1M | −$329.2M | −$400.0M | −$380.0M | −$400.0M |
| Net borrowing (repayment) | $13.47B | −$2.6M | −$2.6M | −$76.8M | −$28.1M | −$12.4M | −$331.2M | $325.3M | −$60.6M | −$60.6M |
| Shares issued | $228.4M | $232.2M | $253.0M | $238.0M | $210.7M | $197.4M | $156.4M | $123.8M | $0 | $0 |
| Other financing | −$308.4M | −$73.4M | −$286.5M | −$177.4M | −$178.3M | $192.9M | $135.0M | $576.6M | $387.5M | $338.7M |
| Cash from financing activities | $13.39B | −$181.3M | −$1.20B | −$1.12B | −$748.7M | −$140.6M | −$561.9M | $5.1M | −$373.1M | −$306.9M |
| Summary | ||||||||||
| Net change in cash | −$1.01B | $2.46B | $21.3M | −$15.3M | $197.2M | $507.4M | $5.5M | −$325.2M | $71.7M | $140.4M |
| Cash at end of period | $2.89B | $3.90B | $1.44B | $1.42B | $1.44B | $1.24B | $730.5M | $723.1M | $1.05B | $976.6M |
| Free cash flow | $1.35B | $1.28B | $1.51B | $1.60B | $1.40B | $832.6M | $598.1M | $322.3M | $561.0M | $515.6M |
| Free cash flow margin | 19.1% | 21.0% | 28.4% | 34.7% | 33.2% | 22.6% | 17.8% | 10.3% | 20.6% | 21.3% |
| Capex / revenue | 2.4% | 2.0% | 3.6% | 3.0% | 2.3% | 4.3% | 6.0% | 3.3% | 2.7% | 2.9% |
| Operating cash flow / net income | 1.14 | 0.63 | 1.40 | 1.78 | 1.97 | 1.49 | 1.50 | 0.98 | 4.65 | 2.20 |
| Jul '26 | Apr '26 | Jan '26 | Oct '25 | Jul '25 | Apr '25 | Jan '25 | Oct '24 | Jul '24 | Apr '24 | Jan '24 | Oct '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | $545.7M | $16.9M | $64.7M | $448.5M | $242.3M | $345.1M | $297.4M | $1.10B | $404.9M | $289.1M | $446.2M | $346.5M |
| Depreciation & amortization | $454.8M | $456.5M | $450.7M | $449.1M | $114.5M | $48.9M | $47.9M | $114.9M | $56.3M | $61.0M | $62.9M | $67.1M |
| Stock-based compensation | $231.6M | $222.3M | $258.7M | $237.4M | $267.7M | $201.7M | $186.5M | $152.3M | $181.5M | $177.8M | $180.7M | $141.3M |
| Change in working capital | −$81.7M | −$134.1M | $218.8M | $80.2M | $79.1M | −$137.1M | −$518.7M | $135.3M | −$139.4M | −$33.0M | −$670.5M | −$242.1M |
| Other non-cash items | −$337.6M | $67.4M | −$136.1M | −$575.4M | −$32.6M | −$183.2M | −$80.6M | −$935.3M | −$47.9M | −$18.3M | −$107.0M | $13.2M |
| Cash from operating activities | $812.8M | $628.9M | $856.8M | $639.7M | $671.0M | $275.4M | −$67.5M | $562.8M | $455.4M | $476.6M | −$87.8M | $326.1M |
| Investing activities | ||||||||||||
| Capital expenditures | −$66.6M | −$54.2M | −$35.3M | −$34.5M | −$38.6M | −$55.6M | −$40.7M | −$4.4M | −$40.0M | −$38.4M | −$40.4M | −$53.1M |
| Investments (net) | $69.7M | $1.3M | −$1.2M | −$5.3M | −$16.50B | $76.0M | −$22.0M | $1.44B | −$53.8M | −$111.8M | −$54.4M | −$300.5M |
| Acquisitions & other investing | $440.0M | $442,000 | $0 | $604.2M | $38.6M | $55.6M | $40.7M | $4.4M | $40.0M | $38.4M | $40.4M | $53.1M |
| Cash from investing activities | $443.1M | −$52.4M | −$36.5M | $564.4M | −$16.50B | $76.0M | −$22.0M | $1.44B | −$53.8M | −$111.8M | −$54.4M | −$300.5M |
| Financing activities | ||||||||||||
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | −$2.6M |
| Share repurchases & issuance (net) | −$37.5M | −$97.6M | — | — | −$138.1M | −$41.9M | −$125.0M | −$59.0M | −$66.0M | −$65.2M | −$147.3M | −$300.0M |
| Net borrowing (repayment) | −$1.4M | −$11.1M | −$3.45B | −$861.1M | $4.29B | $10.03B | −$1.3M | $0 | −$1.3M | — | — | — |
| Shares issued | $8.4M | $103.4M | $2.01B | $90.3M | $19.8M | $103.9M | $14.4M | $89.1M | $28.0M | $105.6M | $9.5M | $88.1M |
| Other financing | −$7.4M | −$130.5M | −$144.6M | −$65.1M | −$56.6M | $0 | −$30.0M | $0 | −$17.6M | −$7.8M | −$49.3M | −$39.8M |
| Cash from financing activities | −$37.8M | −$135.8M | −$1.58B | −$835.9M | $4.12B | $10.10B | −$141.8M | $30.1M | −$56.8M | $32.6M | −$187.2M | −$254.3M |
| Summary | ||||||||||||
| Net change in cash | $1.19B | $470.2M | −$759.4M | $356.8M | −$11.71B | $10.47B | −$240.9M | $2.04B | $347.8M | $390.5M | −$320.0M | −$246.8M |
| Cash at end of period | $3.61B | $2.42B | $2.13B | $2.89B | $2.41B | $14.12B | $3.66B | $3.90B | $1.86B | $1.50B | $1.12B | $1.44B |
| Free cash flow | $746.3M | $616.8M | $821.5M | $605.2M | $632.4M | $219.8M | −$108.2M | $558.4M | $415.4M | $438.2M | −$128.2M | $273.0M |
| Free cash flow margin | 30.1% | 27.1% | 34.1% | 26.8% | 36.3% | 13.7% | −7.4% | 34.1% | 27.2% | 30.1% | −8.5% | 17.1% |
| Capex / revenue | 2.7% | 2.4% | 1.5% | 1.5% | 2.2% | 3.5% | 2.8% | 0.3% | 2.6% | 2.6% | 2.7% | 3.3% |
| Operating cash flow / net income | 1.49 | 37.29 | 13.24 | 1.43 | 2.77 | 0.80 | −0.23 | 0.51 | 1.12 | 1.65 | −0.20 | 0.94 |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported; data from EODHD.
SNPS cash generation
In fiscal 2025 (ended October 31, 2025), Synopsys generated $1.5 billion of cash from operations (up 7.9%) and spent $169.5 million on capital expenditures, leaving free cash flow of $1.3 billion, 19.1% of revenue. Cash and equivalents fell by $1.0 billion over the year.
Related: SNPS income statement, SNPS balance sheet. See the SNPS stock overview for the latest quote and news.
SNPS cash flow FAQ
What is Synopsys's free cash flow?
Synopsys's free cash flow was $1.3 billion in fiscal 2025: $1.5 billion of operating cash flow minus $169.5 million of capital expenditures It was $1.3 billion a year earlier..
How much cash does Synopsys generate from operations?
Synopsys generated $1.5 billion of cash from operating activities in fiscal 2025, 1.14 times its net income of $1.3 billion.
How much does Synopsys spend on capital expenditures?
Synopsys spent $169.5 million on capital expenditures in fiscal 2025, 2.4% of revenue, compared with $123.2 million the year before.