EDA & IP

Electronic design automation software and semiconductor IP licensing. Every chip designed anywhere in the world uses Synopsys or Cadence tools. ARM architecture is in virtually every mobile and AI chip.

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HYPOTHESIS

β_SOXX expected 0.6–0.8 — clearly lower than hardware layers. Subscription and royalty revenue models insulate from fab cycle volatility. These are the tollbooths of the fabless model.

CAPITAL CYCLE

Capex/Depreciation: 0.6x

Software/IP model is structurally decoupled from fab capex cycles. Revenue grows with chip design activity, not wafer starts.

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BETA SPY

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BETA SOXX

CONSTITUENTS

OPTIONS ELIGIBLE

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INTRA-LAYER CORRELATION

Single constituent — intra-layer correlation not applicable.

CONSTITUENTS

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TICKER	COMPANY	LAST	CHG%	β SPY	β SOXX	SIGNALS	TAGS
SNPS	Synopsys Market leader in EDA software and semiconductor IP. Every advanced chip design flows through Synopsy...	...	...	—	—	OPTIONS	eda_tollboothanalog_moat
CDNS	Cadence Design Systems Co-duopolist with Synopsys in EDA. Increasingly strong in AI-assisted chip design and system analysi...	...	...	—	—	OPTIONS	eda_tollbooth
ARM	Arm Holdings Architecture licensor behind virtually every mobile chip, most data center CPUs, and increasingly AI...	...	...	—	—	OPTIONS	eda_tollboothai_infrastructure

SEMILENS v0.1 · Data via Tradier Production API · Not financial adviceBeta research: 5Y daily · Loading...