Comparing 2025 vs 2024 $CDNS:
-Revenue +14.1%
-Backlog 7.8B (+14.7%)
-GAAP EPS +5.4%
-OPM -90bps
-Headcount +8.6%
-SBC +16.3%

China revenue share (21'-25'):
13%->15%->17%->12%->13%

That SBC really weighing down on stock.