OpenText
OTEX · Application Software
$27.95
0.0%Synopsys
SNPS · Application Software
$430.14
1.8%The short version
- Synopsys is the larger business, with $7.1B of revenue in fiscal 2025 against $5.2B for OpenText.
- Synopsys grew revenue faster (15.1%, against 1.5%).
- OpenText kept more of each dollar of sales as operating profit (20.6% operating margin, against 13.0% operating margin).
- Synopsys turned more of its sales into free cash flow (19.1% FCF margin, against 15.4% FCF margin).
- OpenText earned a higher return on the capital invested in it (9.0%, against 4.0%).
| Latest fiscal year | OTEX · FY26 | SNPS · FY25 |
|---|---|---|
| Size | ||
| Market cap | $7.0B | $82.7B |
| Revenue | $5.2B | $7.1B |
| Free cash flow | $808M | $1.3B |
| Net income | $643M | $1.3B |
| Growth | ||
| Revenue growth | 1.5% | 15.1% |
| 5-year growth | 9.2% | 13.9% |
| Share count change | −5.4% | 6.2% |
| Profitability | ||
| Gross margin | 73.7% | 77.0% |
| Operating margin | 20.6% | 13.0% |
| Net margin | 12.3% | 18.9% |
| FCF margin | 15.4% | 19.1% |
| Return on capital | 9.0% | 4.0% |
| Return on equity | 16.2% | 7.1% |
| Balance sheet | ||
| Net debt | $4.8B | $10.5B |
| Net debt / EBITDA | 3.2x | 6.7x |
| Dividends and buybacks | $685M | $0.0M |
| Valuation & quality | ||
| P/E | — | 75.2x |
| Piotroski F-score | 9 | 3 |
FY17
OTEX $2.3B
SNPS $2.7B
FY18
OTEX $2.8B
SNPS $3.1B
FY19
OTEX $2.9B
SNPS $3.4B
FY20
OTEX $3.1B
SNPS $3.7B
FY21
OTEX $3.4B
SNPS $4.2B
FY22
OTEX $3.5B
SNPS $5.1B
FY23
OTEX $4.5B
SNPS $5.3B
FY24
OTEX $5.8B
SNPS $6.1B
FY25
OTEX $5.2B
SNPS $7.1B
FY26
OTEX $5.2B
SNPS —
OTEX
SNPS
FY17
OTEX 15.5%
SNPS 12.8%
FY18
OTEX 18.0%
SNPS 11.5%
FY19
OTEX 19.8%
SNPS 15.5%
FY20
OTEX 16.2%
SNPS 16.8%
FY21
OTEX 21.9%
SNPS 17.5%
FY22
OTEX 18.5%
SNPS 22.6%
FY23
OTEX 11.5%
SNPS 23.9%
FY24
OTEX 15.4%
SNPS 22.1%
FY25
OTEX 17.3%
SNPS 13.0%
FY26
OTEX 20.6%
SNPS —
OTEX
SNPS
FY17
OTEX $361M
SNPS $562M
FY18
OTEX $603M
SNPS $325M
FY19
OTEX $812M
SNPS $602M
FY20
OTEX $882M
SNPS $837M
FY21
OTEX $812M
SNPS $1.4B
FY22
OTEX $889M
SNPS $1.6B
FY23
OTEX $655M
SNPS $1.5B
FY24
OTEX $808M
SNPS $1.3B
FY25
OTEX $687M
SNPS $1.3B
FY26
OTEX $808M
SNPS —
OTEX
SNPS
FY17
OTEX 8.4%
SNPS 7.8%
FY18
OTEX 5.6%
SNPS 13.7%
FY19
OTEX 6.6%
SNPS 16.0%
FY20
OTEX 5.7%
SNPS 17.1%
FY21
OTEX 5.9%
SNPS 18.4%
FY22
OTEX 7.9%
SNPS 26.0%
FY23
OTEX 3.9%
SNPS 27.7%
FY24
OTEX 5.4%
SNPS 26.5%
FY25
OTEX 8.7%
SNPS 4.0%
FY26
OTEX 9.0%
SNPS —
OTEX
SNPS
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.