Synopsys
SNPS on Nasdaq. Synopsys sells chip design software and services to engineers. Market value $93.6bn.
Price checks use the past 12 months to July 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to October 2025.
Should I look at this?
Good business, but not cheap right now
Why it could be worth it
What to watch out for
See cheaper Technology stocks on the list
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $1.39 of spare cash last year. A savings account pays about $4.
You pay 128.7 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns 21 cents a year. Above 10 is good.
Quality score: 100 of 100. Price score: 13 of 100. Our list needs 70 on quality and 60 on price.
$505.17 a share, 39% above its 1-year low
Over the past year the price has ranged from $362.55 to $539.48.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $4.2bn | $5.1bn | $5.3bn | $6.1bn | $7.1bn |
| Operating margin | |||||
| Operating margin | 17.5% | 22.6% | 23.9% | 22.1% | 13.0% |
| Debt to equity | |||||
| Debt to equity | 0.02 | 0.00 | 0.00 | 0.00 | 0.48 |
| Shares outstanding | |||||
| Shares outstanding | 0.15bn | 0.15bn | 0.15bn | 0.19bn | 0.19bn |
Health checks
- Free cash flow positive5 of 5 years
- Accounting looks honest (Beneish)Watch
- Financial strength (Piotroski)4 of 9
- Profit backed by cash (accruals)Yes
- Debt0.48× equity
- Revenue growth, five yearsStrong, 13.9% a year
- Buying back its own sharesNo, 25% more shares since 2021
The quarter to July 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $2.5 billion last quarter, up 42% on a year ago.
- Profit: $546 million, up 125% on a year ago.
- It keeps 9 cents of each $1 of sales as operating profit, down from 17 cents a year earlier.
- 19% more shares than a year ago. Each share owns a bit less of the company.
- Debt is $6.4 billion more than cash, down from $11.8 billion a year ago.
| Quarter to | Amount |
|---|---|
| October 2024 | Not reported |
| January 2025 | $1.5bn |
| April 2025 | $1.6bn |
| July 2025 | $1.7bn |
| October 2025 | $2.3bn |
| January 2026 | $2.4bn |
| April 2026 | $2.3bn |
| July 2026 | $2.5bn |
| Quarter to | Amount |
|---|---|
| October 2024 | $1.1bn |
| January 2025 | $296m |
| April 2025 | $345m |
| July 2025 | $243m |
| October 2025 | $449m |
| January 2026 | $65m |
| April 2026 | $17m |
| July 2026 | $546m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- 9 December 2026
- Last annual report (10-K)
- 22 December 2025
- Next quarterly (estimated, 10-Q)
- 25 November 2026
Who owns it
10 long-term investors we follow own it, up from 9 last quarter. 1,445 funds in all.
- First Manhattan Co.First Manhattan partners
- Value
- $383m
- Share of fund
- 1.0%
- Dodge & CoxDodge & Cox investment committee
- Value
- $5m
- Share of fund
- <0.1%
- H&H International InvestmentDuan Yongping
- Value
- $4m
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Aristotle Capital ManagementHoward Gleicher | $775m | 1.6% | Cut |
| GMOJeremy Grantham | $429m | 1.0% | Added |
| First Manhattan Co.First Manhattan partners | $383m | 1.0% | |
| Elliott Investment ManagementPaul Singer | $101m | 0.7% | New |
| Polen CapitalDan Davidowitz | $18m | 0.2% | Cut |
| Davis Selected AdvisersChris Davis | $11m | <0.1% | Cut |
| Dodge & CoxDodge & Cox investment committee | $5m | <0.1% | |
| H&H International InvestmentDuan Yongping | $4m | <0.1% | |
| Gotham Asset ManagementJoel Greenblatt | $1m | <0.1% | Cut |
| GAMCO InvestorsMario Gabelli | $513,427 | <0.1% | Added |
Largest holders overall
- BlackRock$7.2bnAdded
- Vanguard Capital Management$5.6bn
- State Street$4.0bn
- Invesco$2.7bn
- FMR$2.7bnCut
- Assenagon Asset Management$2.2bnAdded
- Nvidia$2.2bn
- Geode Capital Management$2.0bn
- Vanguard Portfolio Management$2.0bnCut
- Morgan Stanley$1.7bnCut
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
1 investor owns more than 5%.
- Vanguard Capital ManagementPassive investor7.5%Since 31 March 2026
- Capital World InvestorsPassive investorSold down below 5%Since 30 September 2025
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
Vanguard Capital Management Passive investor | 7.5% | 31 March 2026 | |
Capital World Investors Passive investor | Sold down below 5% | 30 September 2025 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 4 sold $48m, $48m of it under preset trading plans.
- Ghazi SassinePRESIDENT AND CEO, DirectorSoldunder a preset trading plan
- Date
- 15 September 2026
- Shares
- 14,604
- Price
- $374.88
- Value
- $5m
- DE GEUS AARTEXECUTIVE CHAIR, DirectorSoldunder a preset trading plan
- Date
- 1 September 2026
- Shares
- 24,641
- Price
- $419.44
- Value
- $10m
- DE GEUS AARTEXECUTIVE CHAIR, DirectorSoldunder a preset trading plan
- Date
- 31 August 2026
- Shares
- 25,000
- Price
- $441.76
- Value
- $11m
- DE GEUS AARTEXECUTIVE CHAIR, DirectorSoldunder a preset trading plan
- Date
- 28 August 2026
- Shares
- 25,000
- Price
- $445.55
- Value
- $11m
- Ghazi SassinePRESIDENT AND CEO, DirectorSoldunder a preset trading plan
- Date
- 15 June 2026
- Shares
- 14,603
- Price
- $458.96
- Value
- $7m
- Glaser ShelaghCFOSoldunder a preset trading plan
- Date
- 12 June 2026
- Shares
- 3,394
- Price
- $450.02
- Value
- $2m
- LEE JANETGC & Corporate SecretarySoldunder a preset trading plan
- Date
- 12 January 2026
- Shares
- 250
- Price
- $530.00
- Value
- $132,500
- LEE JANETGC & Corporate SecretarySoldunder a preset trading plan
- Date
- 7 January 2026
- Shares
- 250
- Price
- $510.00
- Value
- $127,500
- Glaser ShelaghCFOSoldunder a preset trading plan
- Date
- 19 December 2025
- Shares
- 3,657
- Price
- $460.77
- Value
- $2m
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 15 September 2026 | Ghazi Sassine PRESIDENT AND CEO, Director | Sold under a preset trading plan | 14,604 | $374.88 | $5m |
| 1 September 2026 | DE GEUS AART EXECUTIVE CHAIR, Director | Sold under a preset trading plan | 24,641 | $419.44 | $10m |
| 31 August 2026 | DE GEUS AART EXECUTIVE CHAIR, Director | Sold under a preset trading plan | 25,000 | $441.76 | $11m |
| 28 August 2026 | DE GEUS AART EXECUTIVE CHAIR, Director | Sold under a preset trading plan | 25,000 | $445.55 | $11m |
| 15 June 2026 | Ghazi Sassine PRESIDENT AND CEO, Director | Sold under a preset trading plan | 14,603 | $458.96 | $7m |
| 12 June 2026 | Glaser Shelagh CFO | Sold under a preset trading plan | 3,394 | $450.02 | $2m |
| 12 January 2026 | LEE JANET GC & Corporate Secretary | Sold under a preset trading plan | 250 | $530.00 | $132,500 |
| 7 January 2026 | LEE JANET GC & Corporate Secretary | Sold under a preset trading plan | 250 | $510.00 | $127,500 |
| 19 December 2025 | Glaser Shelagh CFO | Sold under a preset trading plan | 3,657 | $460.77 | $2m |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
Not checked yet. We haven’t read Synopsys’ annual report.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
- It isn't cheap on profits: 128.7× operating profit.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.