Cadence Design Systems vs OpenText
Cadence Design Systems reported revenue of $5.3 billion in fiscal 2025, about the same as OpenText's $5.2 billion in fiscal 2026. Cadence Design Systems' revenue grew 14.1% in its latest year, and OpenText's grew 1.5%. Cadence Design Systems had an operating margin of 28.2%, against 20.6% at OpenText. Free cash flow was $1.6 billion at Cadence Design Systems and $808 million at OpenText. Their fiscal years end in different months (December 31 and June 30), so the periods don't line up exactly.
Side by side
| Cadence Design Systems | OpenText | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2026, Jun 30, 2026 |
| Revenue | $5.3B | $5.2B |
| Revenue growth | 14.1% | 1.5% |
| Revenue growth a year, last 5 years | 14.6% | 9.2% |
| Gross margin | — | 73.7% |
| Operating margin | 28.2% | 20.6% |
| Net margin | 20.9% | 12.3% |
| Free cash flow | $1.6B | $808M |
| Free cash flow margin | 30.0% | 15.4% |
| Return on capital | 23.7% | 9.0% |
| Net debt to EBITDA | −0.4x | 3.2x |
| Dividends and buybacks | $925M | $685M |
| Change in diluted share count | −0.2% | −5.4% |
| Last close | $322.17 | $27.63 |
| P/E at the last close | 75.1× | 10.7× |
| Insider trades, last 12 months | sold $104.2 million | — |
| Piotroski F-score | 5 of 8 | 9 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Cadence Design SystemsOpenText
Operating margin
Percent of revenue
Cadence Design SystemsOpenText
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Cadence Design SystemsOpenText
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Cadence Design Systems and OpenText pages.