Is the business good?
How good a business is CRUS?
Cirrus Logic, Inc. earns 27% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
27%
Return on invested capital · cost of capital 9.0% · 18 points above what the capital costs: growth creates value
- Operating margin
- 23%
Operating margin · Semiconductors median 8.5% · 12 months to Q4 2026
- Cash conversion
- 1.54×
Cash conversion · 1.27× a year ago · every dollar of reported profit arrived as cash, and more
- R&D as % of revenue
- 22%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2021 | 17% |
| FY2022 | 21% |
| FY2023 | 13% |
| FY2024 | 19% |
| FY2025 | 22% |
| FY2026 | 23% |
Details›
- Gross margin12 months to Q4 2026
- 53%
- Operating margin12 months to Q4 2026
- 23%
- Net margin12 months to Q4 2026
- 21%
- Free cash flow margin
- 32%
- R&D as % of revenue
- 22%
- Revenue, trailing twelve months
- $2.00B
- Free cash flow, trailing twelve months
- $637M
- Net income, trailing twelve months
- $414M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 27%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.