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Synopsys cash flow, quarter by quarter

Latest: Q3 FY26 · from the cash-flow statements filed with the SEC

Free cash flow$746M in Q3 FY26 · $2.7B over twelve months

Operating cash flow$813M
Capital spending−$66.6M
Free cash flow+$746M
Cash / net income1.5×
Cash conversion cycle86 days

Analysis

In Q3 FY26, Synopsys generated $813M of operating cash flow and spent $66.6M on capital projects, leaving free cash flow of $746M. That is $114M more than in Q3 FY25 ($632M).

Over the twelve months to Jul 31, 2026, operating cash flow was $2.9B; the largest uses were net borrowing (+) / repaid (−) ($4.3B), taxes on employees’ shares ($325M), buybacks ($300M); besides operations, cash came from other financing ($2.2B), asset & business sales ($1.0B); the cash balance rose by $1.1B.

Operating cash flow was $813M against net income of $546M — 1.5× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$455M, stock-based pay +$232M, payables +$205M.

Its cash conversion cycle was 86 days (receivables 48 + inventory 62 − payables 25).

Free cash flow

Synopsys: free cash flow by quarterSynopsys: free cash flow by quarter$542MQ4 FY24−$108MQ1 FY25$220MQ2 FY25$632MQ3 FY25$605MQ4 FY25$822MQ1 FY26$575MQ2 FY26$746MQ3 FY26
Operating cash flow less capital spending.
Synopsys: operating cash flow against capital spendingSynopsys: operating cash flow against capital spendingOperating cash flowCapital spending$563M$20.7MQ4 FY24−$67.5M$40.7MQ1 FY25$275M$55.6MQ2 FY25$671M$38.6MQ3 FY25$640M$34.5MQ4 FY25$857M$35.3MQ1 FY26$629M$54.2MQ2 FY26$813M$66.6MQ3 FY26
Latest (Q3 FY26): Operating cash flow $813M, Capital spending $66.6M.

Capital allocation, year by year

Synopsys: where the cash came from (up) and went (down), by fiscal yearSynopsys: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksFY21: Operating cash flow $1.5BFY21: Net borrowing −$28.1MFY21: Shares issued $211MFY21: Capital spending −$93.8MFY21: Buybacks −$753M$1.7BFY21FY22: Operating cash flow $1.7BFY22: Net borrowing −$76.8MFY22: Shares issued $238MFY22: Capital spending −$137MFY22: Buybacks −$1.1B$2.0BFY22FY23: Operating cash flow $1.7BFY23: Net borrowing −$2.6MFY23: Shares issued $253MFY23: Capital spending −$190MFY23: Buybacks −$1.2B$2.0BFY23FY24: Operating cash flow $1.4BFY24: Net borrowing −$2.6MFY24: Shares issued $232MFY24: Asset sales $1.5BFY24: Capital spending −$140M$3.1BFY24FY25: Operating cash flow $1.5BFY25: Net borrowing $13.5BFY25: Shares issued $228MFY25: Asset sales $821MFY25: Capital spending −$169M$16.0BFY25
Over these 5 years operating cash flow totalled $7.9B; the largest uses were buybacks ($3.0B) and capital spending ($729M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$3.6B
Debt$10.0B
Net debt$6.4B
Due within a year$24.7M

Synopsys funds itself: free cash flow was $2.7B over the last twelve months, and $3.6B of cash and investments stands against $10.0B of debt ($24.7M due within a year, 145.9× covered by cash).

Synopsys: debt maturities by year (FY25)Synopsys: debt maturities by year (FY25)$24.7MYear 1$1.6BYear 2$3.9BYear 3$24.7MYear 4$2.0BYear 5$6.0BAfter year 5
Principal due in each year as disclosed in the annual report, against $3.6B of cash and investments now.

Where the cash came from and went

Synopsys: sources (+) and uses (−) of cash, Q3 FY26Synopsys: sources (+) and uses (−) of cash, Q3 FY26Cash drawn (+) / kept (−)−$1.2BOperating cash flow$813MAsset & business sales$440MOther investing$69.7MCapital spending−$66.6MTaxes on employees’ shares−$44.9MBuybacks−$37.5MOther financing$37.5MExchange rates−$24.2MShares issued$8.4MNet borrowing (+) / repaid (−)−$1.4M
Synopsys: sources (+) and uses (−) of cash, TTM to Q3 FY26Synopsys: sources (+) and uses (−) of cash, TTM to Q3 FY26Net borrowing (+) / repaid (−)−$4.3BOperating cash flow$2.9BOther financing$2.2BCash drawn (+) / kept (−)−$1.1BAsset & business sales$1.0BTaxes on employees’ shares−$325MBuybacks−$300MCapital spending−$191MOther investing$64.8MExchange rates−$40.2M

From profit to cash

Synopsys: net income to operating cash flow, Q3 FY26Synopsys: net income to operating cash flow, Q3 FY26Net income$546MDepreciation & amortization$455MStock-based pay$232MDeferred taxes−$675KOther non-cash$174KReceivables−$69.2MInventory−$48.1MPayables$205MDeferred revenue−$80.2MPrepaid and other assets−$115MIncome taxes payable$65.7MOperating cash flow$813M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 FY2648622586
Q2 FY2657592195
Q1 FY2660552095
Q4 FY2559532191
Q3 FY25639426131
Q2 FY255311326140
Q1 FY255813253138
Q4 FY24499235106

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 FY26$813M−$66.6M−$37.5M−$1.4M$8.4M−$1.2B$746M
Q2 FY26$629M−$54.2M—−$11.1M$103M−$282M$575M
Q1 FY26$857M−$35.3M—−$3.5B$12.7M$759M$822M
Q4 FY25$640M−$34.5M—−$861M$90.3M−$362M$605M
Q3 FY25$671M−$38.6M—$4.3B$39.6M$11.6B$632M
Q2 FY25$275M−$55.6M——$208M−$10.5B$220M
Q1 FY25−$67.5M−$40.7M—−$1.3M$28.8M$241M−$108M
Q4 FY24$563M−$20.7M——$89.1M−$2.0B$542M

Synopsys: income statement and cash flow

Synopsys, Q3 FY26: revenue $2.5B (+42% year over year), operating margin 14.4%. The chart follows the revenue to costs, profit and cash.

Synopsys: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.