CIRRUS LOGIC, INC. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data CIRRUS LOGIC, INC. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	1,539	1,532	1,186	1,281	1,369	1,781	1,898	1,789	1,896	1,997
Cost of revenue	781	771	588	607	662	858	941	873	900	943
Gross profit	758	761	597	674	707	924	957	916	996	1,054
Research and development	304	366	375	348	343	406	458	426	435	434
Selling, general and administrative	127	132	127	131	127	151	153	144	151	160
Operating expenses	441	498	497	501	470	557	708	573	586	594
Operating income	317	262	101	173	237	366	249	343	410	460
Interest expense	3.6	1.15	1.06	1.06	1.06	0.95	0.9	0.92	0.9	0.9
Other non-operating income	-0.08	-0.97	-0.22	-1.62	2.84	1.71	-3.38	-0.11	1.47	-0.49
Pre-tax income	315	265	93.7	181	245	369	255	364	445	497
Income tax	53.8	103	3.75	21.8	27.9	42.3	78	89.4	113	82.3
Net income	261	162	90	159	217	326	177	275	332	414
EBITDA	380	344	181	242	284	428	320	392	461	513
EPS, basic	4.12	2.55	1.50	2.74	3.74	5.70	3.18	5.06	6.24	8.10
EPS, diluted	3.92	2.46	1.46	2.64	3.62	5.52	3.09	4.90	6.00	7.85
Shares, basic (weighted)	63.3	63.4	60.1	58.3	58.1	57.3	55.6	54.3	53.1	51.1
Shares, diluted (weighted)	66.6	66	61.6	60.5	60.1	59.1	57.2	56	55.2	52.8

Balance sheet

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	351	236	216	292	442	370	446	503	540	801
Short-term investments	99.8	26.4	70.2	22	55.7	10.6
Receivables	120	101	121	154	109	240	150	162	216	220
Inventory	168	206	165	147	173	138	233	227	299	241
Other current assets	12.1	13.9	22.4	11.8	25.1	40.1	57	55.2	28.1	22.7
Total current assets	776	614	625	650	843	840	1,018	1,106	1,240	1,434
Property, plant and equipment	168	191	186	158	155	157	163	170	160	144
Lease right-of-use assets				141	134	171	128	138	127	121
Goodwill	287	289	286	287	288	436	436	436	436	436
Intangible assets	135	112	67.8	34.4	22	158	38.9	29.6	27.5	20.7
Long-term investments	0	172	159	284	313	63.7
Other non-current assets	14.6	37.8	19.7	27.8	67.3	91.6	73.7	68.6	34.7	18.4
Total assets	1,413	1,430	1,353	1,593	1,831	2,123	2,064	2,232	2,327	2,489
Accounts payable	73.8	69.9	48.4	78.4	103	115	81.5	55.5	63.2	80.6
Accrued liabilities	40.2	35.7	29.3	42.4	54.8	65.3	50.6	47.6	52.1	52.7
Total current liabilities	144	140	116	159	214	265	216	186	195	195
Lease liabilities				129	128	163	123	135	122	114
Other non-current liabilities	3.68	7.66	9.89	0		13.6	1.13	0.51	0
Total liabilities	262	268	212	363	442	524	406	415	378	361
Paid-in capital	1,259	1,312	1,364	1,435	1,499	1,578	1,670	1,761	1,860	1,946
Retained earnings	-107	-139	-222	-202	-113	23.4	-9.32	58.9	90.4	185
Other comprehensive income	-0.57	-11.4	-1.07	-3.47	2.88	-2.05	-2.54	-2.6	-1.18	-2.84
Shareholders' equity	1,152	1,162	1,140	1,230	1,389	1,600	1,658	1,817	1,949	2,128
Total equity	1,152	1,162	1,140	1,230	1,389	1,600	1,658	1,817	1,949	2,128
Total liabilities and equity	1,413	1,430	1,353	1,593	1,831	2,123	2,064	2,232	2,327	2,489
Shares outstanding	64.3	62	59	58.2	57.7	56.6	55.1	53.5	52.3	50.6

Cash flow statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	261	162	90	159	217	326	177	275	332	414
Depreciation and amortization	63.4	81.4	79.8	68.2	47.1	62.1	71.2	48.3	51	52.3
Stock-based compensation	39.6	48.7	49.7	53.8	56.8	66.4	81.6	89.3	84.1	81.8
Deferred income tax	10.9	11.6	1.72	-5.89	-5.58	-15	-34.5	-13.4	-0.1	-1.13
Change in receivables	-31.4	19.2	-14.3	-33.1	45.3	-125	89.8	-12.8	-53.5	-4.14
Change in inventory	-25.9	-37.9	40.6	17.8	-26.5	42.5	-95	6.2	-71.8	58.2
Change in payables	1.77	0.14	-22	27.6	21.1	10.5	-34.3	-23.9	9.15	17.5
Cash from operations	370	319	207	296	349	125	340	422	444	651
Capital expenditures	-41.8	-55.2	-31.6	-15.7	-18.3	-26.1	-35.1	-37.7	-22.8	-14
Acquisitions	0	0		0	0	-277	0	0
Purchases of investments	-231	-238	-98.9	-249	-226	-83	-15.3	-162	-131	-208
Cash from investing	-69.9	-185	-54.7	-100	-77.7	-18.4	-33.3	-163	-124	-75.1
Stock issued	16.5	4.42	1.62	18.6	7.13	13.2	10.1	3.33	15.4	3.87
Share buybacks	-15.4	-176	-160	-120	-110	-168	-191	-186	-261	-280
Cash from financing	-118	-250	-171	-120	-121	-179	-230	-202	-283	-314
Net change in cash	182	-116	-19.4	75.9	150	-72.4	76	57	36.9	261
Free cash flow	328	264	175	280	331	98.6	304	384	422	637
Interest paid	2.95	0.84	0.61	0.46	0.61	0.57	0.54	0.66	0.4	0.53
Income taxes paid	8	34.4	20.6	22.3	29	35.7	92	43.4	51.7	49.6

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to September 26, 2026; growth uses fiscal years. Valuation uses the share price of $120.17 on November 10, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	53.1%	Gross profit / revenue.
Operating margin	22.5%	Operating income / revenue.
EBITDA margin	25.1%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	24.4%	Pre-tax income / revenue.
Net margin	20.2%	Net income / revenue.
FCF margin	25.7%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	27.2%	Cash from operations / revenue.
Effective tax rate	17.1%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	18.9%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	16.0%	Net income / average total assets.
Return on invested capital (ROIC)	25.9%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	22.4%	Research and development expense / revenue.
SG&A / revenue	8.2%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	3.9%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.5%	Capital expenditures / revenue.
D&A / revenue	2.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	5.3%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	1.7%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	7.8%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	5.8%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	3.3%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	8.3%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	12.2%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	22.7%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	14.2%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	11.1%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	17.0%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	12.5%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	25.0%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	32.9%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	13.8%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	30.8%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	36.4%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	16.7%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	46.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	24.2%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	13.3%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	51.0%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	27.9%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	14.0%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	9.2%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	8.7%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	8.9%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	7.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	6.4%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	6.3%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-4.4%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-2.6%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-2.5%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	6.41x	Current assets / current liabilities.
Quick ratio	4.75x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	3.15x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	15.3%	Total liabilities / total assets.
Interest coverage	452x	Operating income / interest expense.
Working capital	$1.24B	Current assets - current liabilities.
Goodwill and intangibles / assets	17.5%	(Goodwill + intangible assets) / total assets.
Tangible book value	$1.74B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.79x	Revenue / average total assets.
Fixed asset turnover	13.5x	Revenue / average property, plant and equipment.
Inventory turnover	3.54x	Cost of revenue / average inventory.
Days inventory	103 days	365 x average inventory / cost of revenue.
Receivables turnover	5.60x	Revenue / average receivables.
Days sales outstanding	65 days	365 x average receivables / revenue.
Days payables	40 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	129 days	Days inventory + days sales outstanding - days payables.
FCF conversion	127.2%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	5.6%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$8.04	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$39.79	Revenue / diluted weighted shares.
FCF per share	$10.22	Free cash flow / diluted weighted shares.
Operating cash flow per share	$10.83	Cash from operations / diluted weighted shares.
Book value per share	$42.58	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$33.77	Tangible book value / shares outstanding.
Cash per share	$13.99	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	57.0%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$6.02B	Share price x shares outstanding.
Enterprise value	$5.30B	Market cap + total debt - cash - short-term investments.
P/E	14.6x	Market cap / net income. Only when net income is positive.
P/S	2.94x	Market cap / revenue.
P/B	2.75x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	3.46x	Market cap / tangible book value, when positive.
P/FCF	11.4x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	10.8x	Market cap / cash from operations, when positive.
EV/Sales	2.59x	Enterprise value / revenue.
EV/EBIT	11.5x	Enterprise value / operating income, when both are positive.
EV/EBITDA	10.3x	Enterprise value / EBITDA, when both are positive.
EV/FCF	10.1x	Enterprise value / free cash flow, when both are positive.
FCF yield	8.7%	Free cash flow / market cap.
Earnings yield	6.9%	Net income / market cap (the inverse of P/E).
Shareholder yield	5.0%	(Dividends paid + share buybacks) / market cap.
PEG	0.40x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was CIRRUS LOGIC, INC.'s revenue in fiscal 2026?

CIRRUS LOGIC, INC. reported revenue of $2.00B for fiscal 2026, 5.3% higher than the year before.

Was CIRRUS LOGIC, INC. profitable in fiscal 2026?

Yes. Net income was $414.4M, a net margin of 20.7%.

How much free cash flow did CIRRUS LOGIC, INC. generate in fiscal 2026?

Cash from operations of $650.6M minus capital expenditures of $14.0M left free cash flow of $636.6M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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