Subtext

Cadence Design Systems, Inc. CDNS

SectorInformation Technology
Transcripts33
Date range2017-04-25 – 2025-04-28
Calls charted33

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-22-11+0+11+222017 Q12018 Q22019 Q32020 Q42022 Q12023 Q22024 Q32017 Q1 · Overall: +11.82017 Q2 · Overall: +11.82017 Q3 · Overall: +8.22017 Q4 · Overall: +8.12018 Q1 · Overall: +15.12018 Q2 · Overall: +19.52018 Q3 · Overall: +12.32018 Q4 · Overall: +13.12019 Q1 · Overall: +12.42019 Q2 · Overall: +8.42019 Q3 · Overall: +12.12019 Q4 · Overall: +14.52020 Q1 · Overall: +6.12020 Q2 · Overall: +5.72020 Q3 · Overall: +11.72020 Q4 · Overall: +13.32021 Q1 · Overall: +8.82021 Q2 · Overall: +12.42021 Q3 · Overall: +12.32021 Q4 · Overall: +10.32022 Q1 · Overall: +13.42022 Q2 · Overall: +14.32022 Q3 · Overall: +11.32022 Q4 · Overall: +13.22023 Q1 · Overall: +12.22023 Q2 · Overall: +13.62023 Q3 · Overall: +14.32023 Q4 · Overall: +16.22024 Q1 · Overall: +14.32024 Q2 · Overall: +10.02024 Q3 · Overall: +17.82024 Q4 · Overall: +14.22025 Q1 · Overall: +13.6
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-51-26+0+26+512017 Q12018 Q22019 Q32020 Q42022 Q12023 Q22024 Q32017 Q1 · CEO: +24.92017 Q2 · CEO: +16.52017 Q3 · CEO: +13.32017 Q4 · CEO: +21.62018 Q1 · CEO: +25.82018 Q2 · CEO: +32.82018 Q3 · CEO: +21.92018 Q4 · CEO: +25.82019 Q1 · CEO: +24.02019 Q2 · CEO: +24.42019 Q3 · CEO: +27.32019 Q4 · CEO: +27.12020 Q1 · CEO: +30.42020 Q2 · CEO: +24.62020 Q3 · CEO: +28.52020 Q4 · CEO: +44.82021 Q1 · CEO: +33.42021 Q2 · CEO: +25.22021 Q3 · CEO: +23.22021 Q4 · CEO: +20.52022 Q1 · CEO: +22.02022 Q2 · CEO: +30.82022 Q3 · CEO: +19.22022 Q4 · CEO: +20.52023 Q1 · CEO: +21.42023 Q2 · CEO: +22.92023 Q3 · CEO: +22.02023 Q4 · CEO: +25.42024 Q1 · CEO: +22.22024 Q2 · CEO: +17.12024 Q3 · CEO: +27.42024 Q4 · CEO: +26.92025 Q1 · CEO: +23.52017 Q1 · CFO: +12.72017 Q2 · CFO: +0.02017 Q3 · CFO: +10.82017 Q4 · CFO: +2.32018 Q1 · CFO: +9.22018 Q2 · CFO: +16.22018 Q3 · CFO: +10.42018 Q4 · CFO: +5.62019 Q1 · CFO: +13.82019 Q2 · CFO: +11.52019 Q3 · CFO: +9.42019 Q4 · CFO: +10.22020 Q1 · CFO: -0.72020 Q2 · CFO: +0.02020 Q3 · CFO: +7.92020 Q4 · CFO: +10.92021 Q1 · CFO: +4.82021 Q2 · CFO: +10.02021 Q3 · CFO: +13.52021 Q4 · CFO: +14.82022 Q1 · CFO: +19.22022 Q2 · CFO: +9.42022 Q3 · CFO: +11.02022 Q4 · CFO: +15.72023 Q1 · CFO: +11.42023 Q2 · CFO: +10.62023 Q3 · CFO: +11.22023 Q4 · CFO: +11.42024 Q1 · CFO: +12.12024 Q2 · CFO: +15.22024 Q3 · CFO: +22.32024 Q4 · CFO: +16.72025 Q1 · CFO: +7.2
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-37-18+0+18+372017 Q12018 Q22019 Q32020 Q42022 Q12023 Q22024 Q32017 Q1 · Prepared remarks: +23.12017 Q2 · Prepared remarks: +15.02017 Q3 · Prepared remarks: +15.62017 Q4 · Prepared remarks: +15.72018 Q1 · Prepared remarks: +20.12018 Q2 · Prepared remarks: +17.92018 Q3 · Prepared remarks: +20.22018 Q4 · Prepared remarks: +21.42019 Q1 · Prepared remarks: +20.22019 Q2 · Prepared remarks: +19.42019 Q3 · Prepared remarks: +24.62019 Q4 · Prepared remarks: +27.22020 Q1 · Prepared remarks: +15.72020 Q2 · Prepared remarks: +10.72020 Q3 · Prepared remarks: +20.72020 Q4 · Prepared remarks: +25.92021 Q1 · Prepared remarks: +12.82021 Q2 · Prepared remarks: +22.82021 Q3 · Prepared remarks: +21.42021 Q4 · Prepared remarks: +21.62022 Q1 · Prepared remarks: +24.72022 Q2 · Prepared remarks: +24.82022 Q3 · Prepared remarks: +21.32022 Q4 · Prepared remarks: +26.72023 Q1 · Prepared remarks: +25.22023 Q2 · Prepared remarks: +26.72023 Q3 · Prepared remarks: +25.02023 Q4 · Prepared remarks: +25.02024 Q1 · Prepared remarks: +29.62024 Q2 · Prepared remarks: +28.22024 Q3 · Prepared remarks: +28.82024 Q4 · Prepared remarks: +23.82025 Q1 · Prepared remarks: +25.32017 Q1 · Q&A responses: +16.62017 Q2 · Q&A responses: +16.12017 Q3 · Q&A responses: +11.22017 Q4 · Q&A responses: +9.42018 Q1 · Q&A responses: +19.82018 Q2 · Q&A responses: +31.82018 Q3 · Q&A responses: +13.92018 Q4 · Q&A responses: +18.52019 Q1 · Q&A responses: +16.62019 Q2 · Q&A responses: +15.52019 Q3 · Q&A responses: +19.02019 Q4 · Q&A responses: +16.62020 Q1 · Q&A responses: +10.52020 Q2 · Q&A responses: +8.42020 Q3 · Q&A responses: +18.72020 Q4 · Q&A responses: +11.52021 Q1 · Q&A responses: +14.82021 Q2 · Q&A responses: +9.72021 Q3 · Q&A responses: +16.92021 Q4 · Q&A responses: +14.02022 Q1 · Q&A responses: +16.82022 Q2 · Q&A responses: +20.12022 Q3 · Q&A responses: +13.22022 Q4 · Q&A responses: +15.12023 Q1 · Q&A responses: +15.82023 Q2 · Q&A responses: +14.72023 Q3 · Q&A responses: +13.32023 Q4 · Q&A responses: +17.82024 Q1 · Q&A responses: +13.72024 Q2 · Q&A responses: +11.32024 Q3 · Q&A responses: +23.22024 Q4 · Q&A responses: +19.32025 Q1 · Q&A responses: +16.1
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$0.98$4.02$7.072017 Q12018 Q22019 Q32020 Q42022 Q12023 Q22024 Q32017 Q1: $1.402017 Q2: $1.442017 Q3: $1.482017 Q4: $1.522018 Q1: $1.602018 Q2: $1.702018 Q3: $1.802018 Q4: $1.962019 Q1: $2.082019 Q2: $2.182019 Q3: $2.262019 Q4: $2.342020 Q1: $2.502020 Q2: $2.582020 Q3: $2.692020 Q4: $2.872021 Q1: $3.092021 Q2: $3.202021 Q3: $3.402021 Q4: $3.562022 Q1: $3.912022 Q2: $4.182022 Q3: $4.472022 Q4: $4.642023 Q1: $5.122023 Q2: $5.382023 Q3: $5.662023 Q4: $5.872024 Q1: $6.192024 Q2: $6.422024 Q3: $6.65

Forward P/E

19.0536.6154.182017 Q12018 Q22019 Q32020 Q42022 Q12023 Q22024 Q32017 Q1: 22.602017 Q2: 23.852017 Q3: 25.302017 Q4: 28.332018 Q1: 24.312018 Q2: 26.302018 Q3: 25.022018 Q4: 21.472019 Q1: 29.232019 Q2: 32.772019 Q3: 29.962019 Q4: 29.892020 Q1: 21.772020 Q2: 36.142020 Q3: 38.122020 Q4: 43.692021 Q1: 41.582021 Q2: 40.062021 Q3: 49.352021 Q4: 51.762022 Q1: 38.492022 Q2: 35.342022 Q3: 37.412022 Q4: 35.662023 Q1: 39.622023 Q2: 43.922023 Q3: 42.622023 Q4: 47.122024 Q1: 49.452024 Q2: 50.822024 Q3: 40.55

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2017 Q3 tone ↓ -3.6 fwd EPS ↑ +0.04 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q3 tone ↓ -7.2 fwd EPS ↑ +0.10 Tone cooled even as the forward EPS estimate rose.
  • 2019 Q2 tone ↓ -4.0 fwd EPS ↑ +0.10 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q1 tone ↓ -8.4 fwd EPS ↑ +0.16 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q1 tone ↓ -4.5 fwd EPS ↑ +0.22 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q3 tone ↓ -3.0 fwd EPS ↑ +0.29 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q2 tone ↓ -4.3 fwd EPS ↑ +0.23 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-04-28+13.6——View →
2024 Q42025-02-18+14.2——View →
2024 Q32024-10-28+17.8$6.6540.5View →
2024 Q22024-07-22+10.0$6.4250.8View →
2024 Q12024-04-22+14.3$6.1949.5View →
2023 Q42024-02-12+16.2$5.8747.1View →
2023 Q32023-10-23+14.3$5.6642.6View →
2023 Q22023-07-24+13.6$5.3843.9View →