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Sentiment · FY2026 Q3
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Joe Vruwink | Robert W. Baird | 14 (0%) |
| Jason Celino | KeyBanc Capital Markets | 13 (15%) |
| Jay Vleeschhouwer | Griffin Securities | 13 (15%) |
| Charles Shi | Needham | 12 (33%) |
| Siti Panigrahi | Mizuho Securities | 12 (0%) |
| Joshua Tilton | Wolfe Research | 9 (22%) |
| Gary Mobley | StoneX | 8 (0%) |
| Lee Simpson | Morgan Stanley | 8 (38%) |
| Joe Quatrochi | Wells Fargo | 7 (0%) |
| Liam Pharr | Bank of America | 6 (17%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Robert W. Baird | 1 | 14 (0%) |
| Griffin Securities | 1 | 13 (15%) |
| KeyBanc Capital Markets | 1 | 13 (15%) |
| Mizuho Securities |
On August 21, 2026, the Board approved updated estimates for the restructuring plan originally approved November 9, 2025. Synopsys now estimates pre-tax GAAP charges ranging from $425 million to $500 million, consisting primarily of severance and other one-time termination benefits, plus other costs such as certain site closures as part of its global site strategy.
| 1 |
| 12 (0%) |
| Needham | 1 | 12 (33%) |
| Wolfe Research | 2 | 10 (20%) |
| Bank of America | 2 | 9 (22%) |
| Morgan Stanley | 1 | 8 (38%) |
Synopsys delivered Q2 revenue of $2.276B including approximately $652M from Ansys, with organic ex-Ansys growth of approximately 3-4% driven by AI-related chip design activity and hardware-assisted verification demand. Non-GAAP operating margin reached 39.5% and non-GAAP EPS of $3.35 both exceeded guidance, reflecting disciplined cost synergy execution from the Ansys integration. Management raised full-year FY2026 guidance across all metrics, including non-GAAP EPS up $0.34 to $14.76 midpoint, operating margin up 50bps to 41%, and free cash flow up $100M to approximately $2B. The Design IP segment showed sequential recovery of 12% from its Q1 trough, with management signaling new higher-value business models with hyperscaler customers expected by year-end.
Revenue Growth | Demand | M&A | Regulation Policy | Competitive Dynamics | Cloud & AI | Innovation & R&D | Margin | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 3 | 2 | 1 | 3 | 1 | 3 | 2 | 1 |
| 2025Q1 | 3 | 10 | 4 | 2 | 4 | 2 | 1 | |
| 2025Q2 | 5 | 6 | 2 | 8 | 1 | 5 | 3 | |
| 2025Q3 | 7 | 2 | 7 | 1 | 6 | 2 | 2 | |
| 2025Q4 | 9 | 2 | 3 | 3 | 3 | 1 | 2 | 4 |
| 2026Q1 | 8 | 6 | 6 | 1 | 3 | 4 | 4 | 2 |
| 2026Q2 | 8 | 6 | 6 | 4 | 2 | 4 | 3 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | '26Q2 | |
|---|---|---|---|---|---|---|---|
| Revenue Growth | 3 | 3 | 5 | 7 | 9 | 8 | 8 |
| Demand | 2 | 10 | 6 | 2 | 2 | 6 | 6 |
| M&A | 1 | 2 | 7 | 3 | 6 | 6 | |
| Regulation Policy | 3 | 4 | 8 | 1 | 3 | 1 | |
| Competitive Dynamics | 1 | 2 | 1 | 6 | 3 | 3 | 4 |
| Cloud & AI | 3 | 4 | 5 | 1 | 4 | 2 | |
| Innovation & R&D | 2 | 2 | 3 | 2 | 2 | 4 | 4 |
| Margin | 1 | 1 | 2 | 4 | 2 | 3 |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $1.64B | +2.3% | $7.14 | +215.9% | 77.1% | 19.0% | 68.1% | $558M |
| FY2025 Q1 | $1.46B | -3.7% | $1.89 | -34.6% | 81.4% | 17.3% | 20.3% | $-108M |
| FY2025 Q2 | $1.60B | +10.3% | $2.24 | +19.1% | 80.2% | 23.5% | 21.5% | $220M |
| FY2025 Q3 | $1.74B | +14.0% | $1.50 | -42.5% | 78.1% | 9.5% | 13.9% | $632M |
| FY2025 Q4 | $2.25B | +37.8% | $2.39 | -66.5% | 71.0% | 5.4% | 19.9% | $605M |
| FY2026 Q1 | $2.41B | +65.5% | $0.40 | -78.8% | 73.5% | 8.4% | 2.7% | $822M |
| FY2026 Q2 | $2.28B | +41.9% | $0.09 | -96.0% | 72.3% | 5.3% | 0.7% | $617M |
| FY2026 Q3 | $2.48B | +42.4% | $2.84 | +89.3% | 72.6% | 14.4% | 22.0% | $704M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
What SNPS and other companies said about each other on FY2026 Q2 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“we are working so closely with Cadence and Synopsys and to accelerate all of the world's tools”
NVIDIA is working closely with Synopsys to accelerate its EDA/engineering tools on CUDA/GPUs so agentic workloads run faster.
“when we see or you hear about customers like Intel, Intel Foundry, expanding their engagements”
Synopsys says Intel Foundry expanding its process engagements is an IP tailwind, since new foundries/nodes cannot on-ramp without Synopsys IP, a read-through to Intel Foundry momentum.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
SNPS Synopsys | 7 | +41.9% | |
| ADBE Adobe Inc. | 9 | +12.7% | |
| AKAM Akamai Technologies | 4 | +5.4% | |
| CPAY Corpay | 8 | +21.5% | |
| CRWD CrowdStrike | 10 | +25.6% | |
| CRWV CoreWeave, Inc. Class A Common Stock | 9 | +112.3% | |
| FFIV F5, Inc. | 9 | +10.8% | |
| FTNT Fortinet | 10 | +25.6% | |
| GDDY GoDaddy | 7 | +6.6% | |
| GEN Gen Digital | 8 | +6.3% | |
| MSFT Microsoft Corporation | 8 | +17.8% | |
| NET Cloudflare, Inc. | 9 | +35.9% | |
| ORCL Oracle Corporation | 9 | +20.6% | |
| PANW Palo Alto Networks | 9 | +31.1% | |
| PLTR Palantir Technologies | 10 | +92.8% | |
| VRSN Verisign | 7 | +6.0% | |
| XYZ Block, Inc. | 10 | +9.3% | |
| ZS Zscaler | 9 | +25.4% |