Tax

Tax Reconciliation: Tax Credits

Cadence Design Systems Tax Reconciliation: Tax Credits remained flat by 0.0% to $33.84M in Q4 2024 compared to the prior quarter. Year-over-year, this metric grew by 3.8%, from $32.60M to $33.84M. Over 3 years (FY 2021 to FY 2024), Tax Reconciliation: Tax Credits shows an upward trend with a 14.5% CAGR. This is a positive signal — higher values indicate stronger performance for this metric.

Analysis

StatementIncome Statement
SectionTax
CategoryProfitability
SignalHigher is better
VolatilityModerate
First reportedQ1 2023
Last reportedQ4 2025

How to read this metric

Higher credits generally signal strong investment in R&D or effective utilization of international tax incentives.

Detailed definition

The total value of tax credits, such as research and development or foreign tax credits, that reduce the company's overa...

Peer comparison

Widely used by R&D-intensive companies to demonstrate tax-efficient innovation funding.

Metric ID: is_tmo_tax_reconciliation_tax_credits

Historical Data

4 years
 FY'21FY'22FY'23FY'24
Value$90.05M$105.37M$130.38M$135.34M
YoY Change—+17.0%+23.7%+3.8%
Range$90.05M – $135.34M
CAGR+14.5%
Avg YoY Growth+14.9%
Median YoY Growth+17.0%
Current Streak3+ years growth

Frequently Asked Questions

What is Cadence Design Systems's tax reconciliation: tax credits?
Cadence Design Systems (CDNS) reported tax reconciliation: tax credits of $33.84M in Q4 2024.
How has Cadence Design Systems's tax reconciliation: tax credits changed year-over-year?
Cadence Design Systems's tax reconciliation: tax credits increased by 3.8% year-over-year, from $32.60M to $33.84M.
What is the long-term trend for Cadence Design Systems's tax reconciliation: tax credits?
Over 3 years (2021 to 2024), Cadence Design Systems's tax reconciliation: tax credits has grown at a 14.5% compound annual growth rate (CAGR), from $90.05M to $135.34M.
What does tax reconciliation: tax credits mean?
The total amount of tax credits used to lower the company's tax bill.