Synopsys, Inc. (SNPS)
NEUTRALファンダメンタル
53
株価
$408.93
時価総額
$75.54B
パート1 · 企業の価値
概要
Synopsys makes the software that chip designers use to turn a circuit idea into a design a factory can actually manufacture: simulation, verification and layout tools that catch errors before billions of dollars are committed to production. In 2025 it also acquired Ansys, the maker of engineering simulation software used to test how physical products behave before they are built, extending its tools beyond chips into the broader hardware and systems its chips end up inside.
収益の仕組み
Most revenue comes from time-limited licenses to its design software, sold to chip and hardware engineering teams as a recurring subscription rather than a one-off purchase, alongside a second stream from licensing pre-built circuit blocks — Design IP — that a customer can drop into its own chip instead of designing that piece from scratch. Because a design house builds an entire chip project around one vendor's tools, contracts tend to run for years and renew predictably once in place.
セグメント別売上高
Chip design, verification and manufacturing software, now including the acquired Ansys engineering simulation product line as well.
Pre-built circuit blocks and processor cores licensed to customers to drop into their own chip designs.
競争優位性（moat）
スイッチングコスト · 広いChip design teams build years of engineering work, custom scripts and trained staff around one vendor's toolchain; ripping that out mid-project risks the whole chip. Synopsys and rival Cadence together dominate the market, leaving few credible alternatives for a large design house to switch to even if it wanted, which supports high renewal rates and durable pricing power across economic cycles.
需要を左右する要因
中程度の景気循環性Chip design software spending is more stable than the semiconductor sales it enables, because design teams keep working through a downturn even when chip factories cut output. Demand still tracks how much the industry invests in new chip projects overall, and consolidation among Synopsys's largest customers — fewer, bigger design houses — can concentrate the effect of any one customer's budget decision.
主なリスク
- Customer concentration and consolidation — Synopsys states it depends on a relatively small number of large chip and technology customers, and that mergers among them reduce the number of independent budgets it can sell into.
- Integration risk from the Ansys acquisition — The 2025 acquisition of Ansys was one of the largest in the industry's history; failing to integrate its products, technology and staff as planned would mean the deal does not deliver the benefits it was expected to.
- Export controls and China exposure — US export restrictions on advanced chip design tools have already limited what Synopsys can sell to certain customers in China, and further restrictions could remove more of that market.
- Intense competition for the same design-in decisions — Synopsys competes closely with Cadence and a handful of smaller specialists for the same customer toolchain decisions, and losing a design-in to a rival can mean losing that customer's business for years.
顧客集中度
Synopsys does not disclose an exact figure, but states in its risk factors that it depends on a relatively small number of large customers and that further consolidation among them would increase that dependence.
強気材料
Buyers argue that chip design software sits at a genuine bottleneck few companies can replicate, that the Ansys acquisition extends Synopsys's reach from chips into the physical products built around them, and that AI-driven chip complexity is pushing customers to spend more on design tools, not less.
弱気材料
Sellers fear that integrating an acquisition as large as Ansys carries real execution risk, that a customer base already concentrated among a few large chipmakers keeps consolidating further, and that export restrictions on advanced design tools could permanently shrink the China market Synopsys once served.
Written by the editors, published on 2026年8月18日
Direct competitors
Who this company fights with for the same customers
No editorial profile for this company yet
No competitor list for this company yet.
貸借対照表と流動性
売上高
$8.68B
直近12か月（2026/4/30まで）
純利益
$773M
直近12か月（2026/4/30まで）
フリーキャッシュフロー
$1.35B
自己資本合計
$28.33B
負債合計
$19.90B
流動比率
1.43
利払い倍率
0.96
負債/EBITDA
6.88
一株当たり利益（EPS）
売上高と純利益
フリーキャッシュフロー
収益内訳
財務推移表
利益率の推移
負債の推移
負債の重さ
成長率グリッド
成長率 — 売上高
適正価値の推定
適正価値
$270.56
現在株価
$408.93
安全マージン
-51.1%
適正価値レンジ
$175.86 - $365.26
推定方法
バリュエーション指標
P/E レシオ
90.28
ROE
4.7%
P/B レシオ
2.48
P/FCF
28.68
粗利益率
73.5%
ROIC
1.1%
収益性レーダー
Value Creation (Economic Moat)
ROIC
1.1%
WACC
10.2%
ROIC − WACC
-9.1 pp
ROIC is below the cost of capital — the company is destroying value for every dollar invested.
ファンダメンタル分析基準
合格（15）
- EPS shows upward trend
- EPS CAGR 11.36%
- Price CAGR 21.06%
- Gross Margin 73.5%
- P/FCF 28.68
- P/B Ratio 2.48
- Debt/Equity ratio
- Operating Margin 7.0%
- Positive Free Cash Flow
- CapEx intensity
- Current Ratio
- Return on Tangible Assets
- Revenue Growth 5Y 13.9%
- Analyst Consensus 78% Buy
- Earnings Quality (OCF/NI) 3.62
不合格（12）
- ROIC 1.1%
- Interest Coverage
- Debt/EBITDA
- Low reliance on intangibles
- Price below Graham Number
- DCF valuation (Overvalued)
- ROE 2.6%
- Earnings Surprise avg -0.1%
- PEG Ratio 7.52
- Share Dilution 6.2%
- Net Margin Trend 8.9% vs 34.8%
- Piotroski F-Score 3/9
データなし（1）
- Dividend Payout NaN%
Piotroski F-スコア
重大な財務上の懸念
利益の質
高品質：利益はキャッシュに裏付けられている
株式希薄化
新株を発行しており、所有権を希薄化している
ガバナンス
経営陣
| 氏名 | 役職 | 年齢 |
|---|---|---|
| Dr. Aart J. de Geus Ph.D. | Co-Founder & Executive Chairman | 71 |
| Mr. Sassine Ghazi | CEO, President & Director | 54 |
| Ms. Shelagh Glaser | Chief Financial Officer | 61 |
| Ms. Alessandra Costa | Senior Vice President of Operations | - |
| Mr. Sudhindra Kankanwadi | Chief Accounting Officer | 54 |
| Mr. Tushar Jain | Head of Investor Relations | - |
| Ms. Ann Minooka | Chief Marketing Officer | - |
| Ms. Jill Larsen | Chief People Officer | 51 |
| Mr. Antonio Varas | Chief Strategy Officer | - |
| Mr. Raja Tabet | SVP of Strategic Missions & Technologies | - |
監査リスク
1
取締役会リスク
7
報酬リスク
7
株主権利リスク
4
パート2 · 株価と買い時
この部分は企業に価値があるかを判断するものではありません。ファンダメンタルズに納得したうえで、いつ買うかを選ぶためのものです。内容：テクニカル分析、ポテンシャル、過去のドローダウン、ガンマエクスポージャー。
Latest News
Recent headlines for SNPS, sourced from Markets Gazette.
- 5/27/2026POSITIVESynopsys Settles with Elliott, Names Firm’s Jesse Cohn to Board
Synopsys Inc. has reached a settlement with activist investor Elliott Investment Management, agreeing to appoint Jesse Cohn of Elliott to its board of directors. This resolution likely signals an end to potential proxy battles and a period of uncertainty for the chip-design software company. The appointment of Cohn suggests a potential shift in strategic focus or governance, which could unlock shareholder value. Investors may view this as a positive development, anticipating improved operational performance or strategic initiatives aimed at enhancing profitability and market position.
- 5/27/2026NEUTRALSynopsys Q2 2026 Earnings Call Transcript
Synopsys Inc. released its Q2 2026 earnings call transcript on May 27, 2026. While the transcript itself is informational, it does not contain specific financial results or forward-looking guidance that would immediately impact the stock price. Investors will need to analyze the details within the transcript, such as management commentary on product cycles, R&D investments, and market trends in electronic design automation (EDA), to form an opinion on the company's future performance. The lack of immediate quantifiable data in the title suggests a neutral stance until further analysis of the transcript's content is performed.
- 5/27/2026NEGATIVESynopsys Stock Slips Despite Q2 Earnings Beat
Synopsys Inc. reported Q2 earnings that surpassed analyst expectations, with earnings per share coming in at $3.10 against a consensus of $2.95. Despite this beat, the stock experienced a decline. The company's revenue for the quarter was $1.45 billion, slightly above the projected $1.43 billion. While the headline numbers were positive, investors may be reacting to forward guidance or other details within the report not immediately apparent in the earnings beat itself. This divergence between earnings performance and stock movement warrants close observation for potential underlying concerns.
- 5/26/2026POSITIVESynopsys Q2 Preview: Ansys, AI Tool Adoption To Drive Results
Synopsys is poised to release its Q2 results, with analysts anticipating strong performance driven by the recent acquisition of Ansys and robust demand for its Electronic Design Automation (EDA) tools. The company's strategic expansion into AI chip development programs is also a key factor expected to contribute significantly to revenue growth. Recent analyst ratings, including 'Overweight' from Keybanc and 'Buy' from Rosenblatt and Needham, suggest a positive outlook. Investors will be closely watching for confirmation of these growth drivers and any updated guidance that could further support the stock's trajectory.
- 4/15/2026POSITIVEIf You Invested $1000 In Synopsys Stock 20 Years Ago, You Would Have This Much Today
An investment of $1,000 in Synopsys Inc. (SNPS) stock 20 years ago would have yielded a substantial return, illustrating the company's long-term growth trajectory. While the exact final value is not provided, the premise of the article highlights significant capital appreciation, likely driven by consistent revenue growth, strategic acquisitions, and its dominant position in the electronic design automation (EDA) market. For investors, this historical performance underscores Synopsys's potential as a long-term growth stock, particularly within the semiconductor and technology sectors.
- 3/25/2026POSITIVEHere's How Much $1000 Invested In Synopsys 10 Years Ago Would Be Worth Today
An investment of $1000 in Synopsys Inc. (SNPS) a decade ago would have grown to approximately $13,000 by March 2026, representing a remarkable 13x return. This performance underscores the company's sustained growth and market leadership in electronic design automation (EDA) and semiconductor IP. Investors who held Synopsys stock over the past ten years have benefited from its consistent innovation, strategic acquisitions, and strong demand for its solutions in the rapidly evolving semiconductor industry. The significant appreciation highlights Synopsys's robust business model and its ability to generate substantial shareholder value.
- 3/23/2026POSITIVESynopsys Stock Climbs After Elliott Builds Multibillion-Dollar Stake
Synopsys Inc. (SNPS) shares experienced a notable increase following news that activist investor Elliott Capital Management has acquired a significant multibillion-dollar stake in the company. This strategic investment by a prominent activist fund often signals a belief in undervalued assets or a catalyst for operational improvements and shareholder value enhancement. Investors will be closely watching for potential strategic shifts or corporate actions initiated by Elliott, which could further influence Synopsys's stock performance and long-term outlook.
- 3/22/2026POSITIVEElliott Said to Take Multibillion-Dollar Stake in Synopsys
Activist investor Elliott Investment Management has reportedly acquired a multibillion-dollar stake in Synopsys Inc., a prominent chip-design software maker. The investment signals Elliott's intent to influence the company's strategic direction and potentially drive operational improvements or shareholder value enhancements. Such activist campaigns often lead to significant corporate changes, including potential divestitures, management shake-ups, or strategic realignments, which can unlock value for shareholders. Investors will be closely watching Synopsys's response and any subsequent strategic shifts proposed by Elliott.
via Markets Gazette