Cirrus Logic, Inc. (NASDAQ: CRUS)

Sector: Technology Industry: Semiconductors CIK: 0000772406
Market Cap 7.36 Bn
P/B 3.50
P/E 18.21
P/S 3.73
ROIC (Qtr) 17.81
Div Yield % 0.00
Rev 1y % (Qtr) 4.48
Total Debt (Qtr) 137.31 Mn
Debt/Equity (Qtr) 0.07

About

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Price action

Investment thesis

Bull case

  • Strong operating cash flow of 629.57M provides robust 4.58x coverage of total debt 137.31M, indicating excellent debt servicing capability and financial flexibility.
  • Healthy cash reserves of 778.08M provide 39.47x coverage of short-term debt 19.71M, demonstrating strong liquidity position and minimal refinancing risk.
  • Operating cash flow of 629.57M provides exceptional 701.86x coverage of interest expenses 897000, showing strong debt service capability.
  • Robust free cash flow of 614.54M exceeds capital expenditure of 15.02M by 40.91x, indicating strong organic growth funding capability.
  • Strong tangible asset base of 2B provides 14.55x coverage of total debt 137.31M, indicating robust asset backing and low credit risk.

Bear case

  • Operating cash flow of 629.57M barely covers its investment activities of (33.82M), with a coverage ratio of -18.61, indicating heavy reliance on external financing for growth which may not be sustainable in a tighter credit environment.
  • Investment activities of (33.82M) provide weak support for R&D spending of 429.89M, which is -0.08x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • Long-term investments of 259.56M represent a high 0.96x of fixed assets 271.78M, indicating potential overexposure to financial assets versus operational capabilities.
  • Retained earnings of 178.69M provide limited buffer against comprehensive income items of (702000), which is -254.55x, indicating elevated exposure to market risks.
  • Operating cash flow of 629.57M is outpaced by equity issuance of (344.10M) (-1.83 ratio), indicating concerning reliance on equity markets for funding operations.

Product and Service Breakdown of Revenue (2025)

Geographical Breakdown of Revenue (2025)

Peer comparison

Companies in the Semiconductors
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 NVDA Nvidia Corp 4,120.22 Bn 6,867.04 847.78 10.48 Bn
2 TSM Taiwan Semiconductor Manufacturing Co Ltd 1,782.57 Bn 362.79 138.75 31.18 Bn
3 AVGO Broadcom Inc. 1,393.11 Bn 119.76 35.84 65.14 Bn
4 MU Micron Technology Inc 453.24 Bn 657.82 30.76 12.43 Bn
5 AMD Advanced Micro Devices Inc 338.42 Bn 78.07 9.77 3.85 Bn
6 TXN Texas Instruments Inc 225.71 Bn 66.70 17.17 14.05 Bn
7 INTC Intel Corp 225.13 Bn -843.17 4.26 46.59 Bn
8 QCOM Qualcomm Inc/De 147.37 Bn 27.47 3.28 14.82 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 2.81 4.15
EV to Cash from Ops. EV/CFO 10.96 -405.91
EV to Debt EV to Debt 50.27 81.67
EV to EBIT EV/EBIT 14.03 -94.01
EV to EBITDA EV/EBITDA 13.58 112.02
EV to Free Cash Flow [EV/FCF] EV/FCF 11.23 103.01
EV to Market Cap EV to Market Cap 0.94 0.77
EV to Revenue EV/Rev 3.50 36.18
Price to Book Value [P/B] P/B 3.50 24.05
Price to Earnings [P/E] P/E 18.21 97.65
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 2.38
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 3.97
Dividend per Basic Share Div per Share (Qtr) 0.00 0.63
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 21.06
Interest Coverage Int. cover (Qtr) 548.47 8.98
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) 43.11 -149.31
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) 47.80 70.06
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 5.42
EBIAT Growth (1y) % EBIAT 1y % (Qtr) 32.33 51.85
EBITDA Growth (1y) % EBITDA 1y % (Qtr) 19.11 91.14
EBIT Growth (1y) % EBIT 1y % (Qtr) 19.74 36.72
EBT Growth (1y) % EBT 1y % (Qtr) 19.78 30.25
EPS Growth (1y) % EPS 1y % (Qtr) 36.59 49.61
FCF Growth (1y) % FCF 1y % (Qtr) 34.15 281.55
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) 8.46 37.25
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.80 0.50
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.09
Cash Ratio Cash Ratio (Qtr) 4.22 2.35
Current Ratio Curr Ratio (Qtr) 7.65 5.61
Debt to Equity Ratio Debt/Equity (Qtr) 0.07 -0.02
Interest Cover Ratio Int Coverage (Qtr) 548.47 8.98
Times Interest Earned Times Interest Earned (Qtr) 548.47 8.98
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) 27.60 -113.04
EBIT Margin % EBIT Margin % (Qtr) 24.93 -92.05
EBT Margin % EBT Margin % (Qtr) 24.89 -132.99
Gross Margin % Gross Margin % (Qtr) 52.90 47.72
Net Profit Margin % Net Margin % (Qtr) 20.50 -133.93