Cirrus Logic, Inc. (NASDAQ: CRUS)

Sector: Technology Industry: Semiconductors CIK: 0000772406
Market Cap 6.35 Bn
P/B 3.11
P/E 16.73
P/S 3.26
ROIC (Qtr) 18.10
Div Yield % 0.00
Rev 1y % (Qtr) 3.53
Total Debt (Qtr) 140.47 Mn
Debt/Equity (Qtr) 0.07

About

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Price action

Investment thesis

Bull case

  • Strong operating cash flow of 557.32M provides robust 3.97x coverage of total debt 140.47M, indicating excellent debt servicing capability and financial flexibility.
  • Healthy cash reserves of 593.48M provide 30.46x coverage of short-term debt 19.48M, demonstrating strong liquidity position and minimal refinancing risk.
  • Operating cash flow of 557.32M provides exceptional 621.31x coverage of interest expenses 897000, showing strong debt service capability.
  • Strong tangible asset base of 1.97B provides 14.02x coverage of total debt 140.47M, indicating robust asset backing and low credit risk.
  • Strong operating cash flow of 557.32M provides 3.60x coverage of SG&A expenses 154.75M, showing efficient operational cost management.

Bear case

  • Operating cash flow of 557.32M barely covers its investment activities of (66.39M), with a coverage ratio of -8.40, indicating heavy reliance on external financing for growth which may not be sustainable in a tighter credit environment.
  • Investment activities of (66.39M) provide weak support for R&D spending of 429.31M, which is -0.15x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • Long-term investments of 250.15M represent a high 0.90x of fixed assets 276.47M, indicating potential overexposure to financial assets versus operational capabilities.
  • Retained earnings of 139.03M provide limited buffer against comprehensive income items of (221000), which is -629.07x, indicating elevated exposure to market risks.
  • Operating cash flow of 557.32M is outpaced by equity issuance of (343.21M) (-1.62 ratio), indicating concerning reliance on equity markets for funding operations.

Geographical Breakdown of Revenue (2025)

Product and Service 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 4,516.69 Bn 45.53 24.14 10.48 Bn
2 TSM Taiwan Semiconductor Manufacturing Co Ltd 1,678.13 Bn 32.54 14.09 31.18 Bn
3 AVGO Broadcom Inc. 1,624.80 Bn 70.26 25.43 65.14 Bn
4 MU Micron Technology Inc 386.61 Bn 32.46 9.14 12.43 Bn
5 AMD Advanced Micro Devices Inc 330.88 Bn 100.08 10.33 3.87 Bn
6 INTC Intel Corp 300.63 Bn 1,518.33 5.63 46.55 Bn
7 QCOM Qualcomm Inc/De 195.07 Bn 35.20 4.40 14.81 Bn
8 TXN Texas Instruments Inc 173.86 Bn 34.48 10.07 14.05 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 2.45 4.22
EV to Cash from Ops. EV/CFO 10.66 -369.72
EV to Debt EV to Debt 42.29 90.98
EV to EBIT EV/EBIT 12.29 -66.75
EV to EBITDA EV/EBITDA 11.86 23.41
EV to Free Cash Flow [EV/FCF] EV/FCF 10.99 -8.88
EV to Market Cap EV to Market Cap 0.94 0.80
EV to Revenue EV/Rev 3.05 20.68
Price to Book Value [P/B] P/B 3.11 5.21
Price to Earnings [P/E] P/E 16.73 11.55
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 2.39
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 8.25
Dividend per Basic Share Div per Share (Qtr) 0.00 0.63
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 9.91
Interest Coverage Int. cover (Qtr) 538.71 8.38
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) 43.71 -155.98
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) 33.14 45.60
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 5.64
EBIAT Growth (1y) % EBIAT 1y % (Qtr) 15.76 26.23
EBITDA Growth (1y) % EBITDA 1y % (Qtr) 11.70 47.12
EBIT Growth (1y) % EBIT 1y % (Qtr) 12.57 25.83
EBT Growth (1y) % EBT 1y % (Qtr) 12.60 39.93
EPS Growth (1y) % EPS 1y % (Qtr) 18.95 24.64
FCF Growth (1y) % FCF 1y % (Qtr) -1.71 244.42
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) 5.23 43.10
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.80 0.49
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.09
Cash Ratio Cash Ratio (Qtr) 2.82 2.23
Current Ratio Curr Ratio (Qtr) 6.50 5.43
Debt to Equity Ratio Debt/Equity (Qtr) 0.07 0.34
Interest Cover Ratio Int Coverage (Qtr) 538.71 8.38
Times Interest Earned Times Interest Earned (Qtr) 538.71 8.38
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) 27.50 -112.38
EBIT Margin % EBIT Margin % (Qtr) 24.80 -91.98
EBT Margin % EBT Margin % (Qtr) 24.75 -132.25
Gross Margin % Gross Margin % (Qtr) 53.00 47.73
Net Profit Margin % Net Margin % (Qtr) 19.50 -133.26