- Price
- $505.17 → $509.99(+1.0%)
- Discount
- 2.9% → 1.9%(−0.9 pts)
- Next earnings
- 2026-11-26 → 2026-12-09
- Balance sheet
- Cash: $3.6B
Debt: $10.0B
Net debt: $6.4B
Interest cover: 4.7×
Undrawn credit line: $850M, to December 2027
Debt due within 12 months: $1.0B
Last debt due: 2055
Ratings: Moody's Baa1 (stable outlook), S&P BBB (stable outlook)
Synopsys borrowed to buy Ansys in July 2025. Goodwill and intangible assets from the deal are larger than total equity of $31.2 billion, so the value of the balance sheet depends on Ansys earning its price. All of its remaining debt is unsecured fixed-rate notes that the parent company issued. At July 31, 2026, debtthis was $10.0 billion: six series of senior notes at 4.55% to 5.70%, due from April 2027 to 2055. The $1.0 billion due within 12 months is due on April 1, 2027. Synopsys has already repaid all $4.3 billion of floating-rate term loans from the deal. $2.0 billion that Nvidia paid for new shares helped this. Cash and short-term investments wereAbout $3.6 billion, and about $1.7 billion of thisthe cash was outside the US. Thus net debt was about $6.4 billion. In the nine months to July 31, 2026,Interest cover is operating income plus amortization and depreciation wasof $2.0 billion, and over interest expense wasof $429 million. When Synopsys issued the notes, in March 2025the nine months to July 31, Moody's rated them Baa1 and S&P rated them BBB, both stable2026. An $850 million revolving credit line to December 2027 was undrawn. Goodwill and intangible assetsThe ratings are from the deal are larger than total equity of $31March 2025 note issue.2 billion. Thus the value of the balance sheet depends on Ansys earning its price. Synopsys guides fiscal 2027 free cash flow at about $3.1 billion. It plans to buy back about $1 billion of stock and return up to 50% of free cash flow. Thus debt will now fall more slowly than in the last year.
As of 2026-07-31.
- Checkpoints
- Nov 26Dec 9, 2026 (estimate): Fiscal Q4 2026 earnings: full-year result and Ansys integration. Pending. Watch: Revenue inside the raised $9.69 to $9.74 billion range and fiscal 2027 guidance kept near $11.15 billion pass; a miss or a lower 2027 outlook fails.
Feb 2027 (estimate): Fiscal Q1 2027 earnings: margin progress and buyback pace. Pending. Watch: Non-GAAP operating margin moving toward the 44% fiscal 2027 target and buybacks on plan pass; margin pressure from Ansys costs fails.
Apr 1, 2027: First $1.0 billion of Ansys deal notes fall due. Pending. Watch: Repayment from cash without new borrowing passes; refinancing that keeps gross debt at $10 billion fails the debt reduction test.