Synopsys, Inc.
SNPS 6Price and target zones价格与目标区间
Near the buy zone接近买入区间
What the company does公司做什么
Synopsys sells the software used to design a computer chip, and ready-made circuit blocks that a customer drops into its own design. No advanced chip is made without tools from Synopsys or its one main rival.Synopsys卖的是用来设计计算机芯片的软件，以及可以让客户直接放进自己设计里的现成电路模块。没有一颗先进芯片能离开Synopsys或它唯一的主要对手的工具而造出来。
Earns from营收来源 multi-year software licences, and royalties on the circuit blocks it licenses.来自多年的软件授权，以及它所授权的电路模块带来的版税。
Read the full description查看完整介绍
Synopsys, Inc. provides design IP solutions in the semiconductor and electronics industries. It operates in two segments, Design Automation and Design IP. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers virtual prototyping, static and formal verification, simulation, emulation, field programmable gate array (FPGA)-based prototyping, and debug solutions; FPGA design products that are programmed to perform specific functions; synopsys technology computer-aided design (TCAD), mask synthesis, and manufacturing analytic solutions; and AI-driven EDA solutions. It also provides pre-verified and silicon-proven IP solutions, logic libraries and embedded memories, processor and security solutions, IP Offerings for the automotive market, SOC infrastructure IP, data path and building block IP, and mathematical and floating-point components. Synopsys, Inc. has a strategic collaboration with Arm Holdings plc for development of AGI CPU that provides solutions across its full-stack design portfolio including EDA, interface IP, and hardware-assisted verification (HAV). The company was incorporated in 1986 and is headquartered in Sunnyvale, California.
What the company sells公司卖什么
The tools that turn a description of a circuit into a layout a factory can print.把电路的描述转换成工厂能印制的版图的工具。
- Synthesis and place-and-route综合与布局布线
- Works out where each of billions of transistors sits and how the wires connect them. A human cannot do this by hand.算出数十亿个晶体管中每一个的位置，以及导线如何连接它们。这是人靠手工做不到的。
- Verification验证
- Simulates the chip before it is made. A fault found after manufacture costs millions to correct.在芯片制造之前进行仿真。制造之后才发现的缺陷要花数百万美元来纠正。
Plus:此外： Design IP设计IP — Circuit blocks that Synopsys designs once and licenses many times, such as memory interfaces and high-speed connections. The customer saves years of workSynopsys 设计一次、可以多次授权的电路模块，比如内存接口和高速连接。客户由此省下数年的工作量; Software integrity and systems软件完整性与系统 — Simulation of complete physical systems, largely from the Ansys acquisition对完整物理系统的仿真，主要来自对 Ansys 的收购.
Company facts公司资料
- Founded成立时间
- 1986
- Headquarters总部
- Sunnyvale, California
- Employees员工人数
- 28,000
- Industry行业
- Software - Infrastructure
- Country国家
- United States
Investment thesis投资逻辑 from the watchlist来自关注列表
👀 NOT — exited May 2026; prior tag was stale. EDA duopoly earning on design starts, less capex-cyclical than the AI Capex sleeve; core-EDA moat 9/10 (switching costs + foundry tool mandates).
What's working
- Guide raised 3× never cut, $11B backlog, Elliott on board, $3.5B debt retired. 26x FY26 non-GAAP looks 38% cheaper than CDNS — but only ~15-18% on EV/FCF (40.9x vs ~48x). FV $300-470, base $371 ≈ spot. Add $310-335, strong <$280. Trim $520+
Red flags
- But FCF/share flat 4yrs ($10.22 FY22 → $10.36 FY26E) despite $35B Ansys, $10.8B debt, +26% shares; ROIC 21%→5%, Ansys incremental ROIC 3.0% (5.5% w/ full synergies) vs 5.3% cost of debt. Organic FY25 growth +2.8%. Design IP (~20% rev) −6% y/y vs Cadence IP +40% — share loss, not market
- CEO sold $6.7M @ $459; CEO+CFO named in securities class action
Watch
- Earnings 8/26 Investor Day 9/30.
🔴 加仓区间 $310-335；现价高出约 19%。等 8/26 财报（需要设计 IP 利润率 >28% 且环比增长）。
Historical results历史业绩 past fiscal years — these values do not change过去财年——这些数值不会变动
Profit margins利润率 the share of revenue that stays as profit营收中留存为利润的比例
of every $1 of revenue每 $1 营收中的占比
- Return on equity净资产收益率
- 4%
- Revenue growth营收增长
- +42%
Competitors竞争对手
Why customers stay客户为什么留下
Chip factories certify designs only through approved tool flows, so the tool choice is partly set by the factory, not the customer. Engineers train for years on one tool set. Two suppliers share almost the whole market.芯片工厂只认可通过其批准的工具流程完成的设计，所以工具的选择有一部分是由工厂而不是客户决定的。工程师要在一套工具上训练好几年。两家供应商几乎瓜分了整个市场。
Recent news近期新闻 last 7 days近7天
- The Quiet Surface of Synopsys Stock Hides a Turbulent ForecastTrefis
- Prediction: Synopsys Could Become the Next $150 Billion Software Giant24/7 Wall St.
- Synopsys Just Solved a Bottleneck You Didn’t Even Know ExistedBarchart
- Synopsys Doubles Down on AI Chip Design With Microsoft and AMD. How to Play SNPS Stock Here.Barchart
- Here's Why Synopsys (SNPS) Fell More Than Broader MarketZacks
- Agentic AI Is Coming to Chip Design. Here Is Why Synopsys Stock Could Be the Biggest Beneficiary.Barchart