CRUS

MKT CAP:$9B

Cirrus Logic, Inc.

Market Cap

$9B

Technology·Semiconductors·🇺🇸 United States·NASDAQ

Technology·Semiconductors·🇺🇸·NASDAQ

Stock Price

$169.89+$50.22 (+41.97%)

Apr 22, 2026

Company Details

Cirrus Logic, Inc., a fabless semiconductor company, provides low-power and high-precision mixed-signal processing solutions in the United States and internationally. It offers portable products, including codecs components that integrate a...

CEO

John Forsyth

IPO Date

Jun 9, 1989

Website

www.cirrus.com

Key Metrics TTM

Revenue

$2.0B

+7.0% YoY

Net Income

$404M

EPS (Diluted)

$7.59

Free Cash Flow

$615M

Revenue / Share

$37.45

Gross Margin

52.9%

Operating Margin

23.1%

Net Margin

20.5%

FCF Margin

31.1%

P/S

4.5x

P/E

22.0x

Earnings Reports

Q4 2026

May 5, 2026

PENDING

Q3 2026

Feb 3, 2026

$581M+4.5%EPS $2.66

Q2 2026

Nov 4, 2025

$561M+3.5%EPS $2.48

Q1 2026

Aug 5, 2025

$407M+8.9%EPS $1.14

FY 2025

May 23, 2025

$1.9B+6.0%EPS $6.00

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 22	$490M	$259M	$108M
Q1 23	$394M	$203M	$54M
Q2 23	$541M	$271M	$116M
Q3 23	$591M	$297M	$141M
Q4 23	$373M	$186M	-$63M
Q1 24	$317M	$159M	$18M
Q2 24	$481M	$247M	$106M
Q3 24	$619M	$317M	$168M
Q4 24	$372M	$193M	$52M
Q1 25	$374M	$189M	$47M
Q2 25	$542M	$283M	$132M
Q3 25	$556M	$298M	$146M
Q4 25	$424M	$227M	$86M
Q1 26	$407M	$214M	$72M
Q2 26	$561M	$294M	$145M
Q3 26	$581M	$308M	$153M

Valuation

Quarter	P/S	P/E
Q4 22	5.0x	27.2x
Q1 23	4.7x	25.4x
Q2 23	4.5x	25.3x
Q3 23	4.4x	27.2x
Q4 23	4.7x	50.2x
Q1 24	4.9x	58.2x
Q2 24	5.0x	63.0x
Q3 24	5.0x	50.4x
Q4 24	5.0x	32.3x
Q1 25	4.8x	29.5x
Q2 25	4.7x	27.1x
Q3 25	4.8x	29.1x
Q4 25	4.7x	26.8x
Q1 26	4.6x	25.3x
Q2 26	4.6x	23.4x
Q3 26	4.5x	22.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 22	$258M	$250M
Q1 23	$74M	$68M
Q2 23	$36M	$26M
Q3 23	$181M	$173M
Q4 23	$48M	$37M
Q1 24	-$40M	-$52M
Q2 24	-$23M	-$31M
Q3 24	$314M	$304M
Q4 24	$171M	$163M
Q1 25	$87M	$77M
Q2 25	$8M	$5M
Q3 25	$219M	$212M
Q4 25	$130M	$127M
Q1 26	$116M	$113M
Q2 26	$92M	$88M
Q3 26	$291M	$286M

Capital Expenditures

Quarter	CapEx
Q4 22	$8M
Q1 23	$7M
Q2 23	$10M
Q3 23	$8M
Q4 23	$12M
Q1 24	$12M
Q2 24	$9M
Q3 24	$10M
Q4 24	$8M
Q1 25	$10M
Q2 25	$3M
Q3 25	$7M
Q4 25	$3M
Q1 26	$3M
Q2 26	$4M
Q3 26	$5M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 22	+66.9%	+42.1%
Q1 23	+42.0%	+31.5%
Q2 23	+16.0%	+14.5%
Q3 23	+7.7%	+11.1%
Q4 23	-23.9%	+14.0%
Q1 24	-19.5%	-11.8%
Q2 24	-11.0%	-11.6%
Q3 24	+4.8%	+0.5%
Q4 24	-0.3%	-26.7%
Q1 25	+18.0%	+9.4%
Q2 25	+12.6%	+9.2%
Q3 25	-10.2%	-9.2%
Q4 25	+14.2%	+6.0%
Q1 26	+8.9%	+2.3%
Q2 26	+3.5%	+1.5%
Q3 26	+4.5%	+4.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 22	$17M	3.5%
Q1 23	$18M	4.6%
Q2 23	$20M	3.8%
Q3 23	$20M	3.5%
Q4 23	$23M	6.0%
Q1 24	$23M	7.2%
Q2 24	$21M	4.4%
Q3 24	$23M	3.7%
Q4 24	$22M	6.0%
Q1 25	$21M	5.7%
Q2 25	$22M	4.1%
Q3 25	$21M	3.7%
Q4 25	$19M	4.6%
Q1 26	$21M	5.1%
Q2 26	$21M	3.7%
Q3 26	$21M	3.5%

OpEx Breakdown

Quarter	R&D	SG&A
Q4 22	$111M	$39M
Q1 23	$110M	$39M
Q2 23	$115M	$40M
Q3 23	$118M	$37M
Q4 23	$115M	$38M
Q1 24	$106M	$35M
Q2 24	$104M	$34M
Q3 24	$113M	$38M
Q4 24	$103M	$37M
Q1 25	$105M	$37M
Q2 25	$113M	$38M
Q3 25	$113M	$39M
Q4 25	$103M	$37M
Q1 26	$103M	$39M
Q2 26	$110M	$40M
Q3 26	$114M	$42M

Revenue Segments

Quarter	High-Performance Mixed Signal Products	Portable Audio Products	Audio Products Segment
Q1 23	$139M	$254M	—
Q2 23	$203M	$338M	—
Q3 23	$243M	$347M	—
Q1 24	$121M	$196M	—
Q2 24	$198M	$283M	—
Q3 24	$240M	$379M	—
Q1 25	$155M	$219M	—
Q2 25	$225M	$317M	—
Q3 25	$209M	$346M	—
Q1 26	$167M	—	$240M
Q2 26	$243M	—	$318M
Q3 26	$236M	—	$344M

Revenue by Geography

Quarter	China	Other Countries	United States	Hong Kong	India	Korea, Republic Of	Other Non U S Countries	Viet Nam
Q1 23	$261M	$125M	$7M	—	—	—	—	—
Q2 23	$350M	$177M	$13M	—	—	—	—	—
Q3 23	$397M	$171M	$22M	—	—	—	—	—
Q1 24	$191M	$124M	$2M	—	—	—	—	—
Q2 24	$279M	$197M	$5M	—	—	—	—	—
Q3 24	$429M	$181M	$9M	—	—	—	—	—
Q1 25	$206M	$163M	$5M	—	—	—	—	—
Q2 25	$326M	$214M	$2M	—	—	—	—	—
Q3 25	$373M	$177M	$6M	—	—	—	—	—
Q1 26	$190M	—	$5M	$49M	$75M	$33M	$19M	$36M
Q2 26	$303M	—	$3M	$69M	$70M	$34M	$24M	$57M
Q3 26	$357M	—	$3M	$47M	$87M	$27M	$14M	$45M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 22	$370M	$11M	$380M
Q1 23	$379M	$18M	$398M
Q2 23	$355M	$24M	$379M
Q3 23	$435M	$28M	$463M
Q4 23	$446M	$35M	$481M
Q1 24	$352M	$36M	$388M
Q2 24	$278M	$35M	$312M
Q3 24	$484M	$33M	$517M
Q4 24	$503M	$24M	$527M
Q1 25	$491M	$26M	$517M
Q2 25	$446M	$32M	$478M
Q3 25	$526M	$38M	$564M
Q4 25	$540M	$56M	$596M
Q1 26	$549M	$66M	$615M
Q2 26	$593M	$52M	$646M
Q3 26	$778M	$44M	$822M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 22	59M	-0.7%	-2.2%
Q1 23	58M	-1.4%	-2.9%
Q2 23	57M	-0.7%	-3.4%
Q3 23	57M	-1.5%	-4.1%
Q4 23	55M	-2.4%	-5.8%
Q1 24	57M	+2.6%	-2.0%
Q2 24	56M	-0.6%	-2.0%
Q3 24	56M	-1.2%	-1.8%
Q4 24	56M	-0.1%	+0.6%
Q1 25	56M	+0.2%	-1.7%
Q2 25	56M	+0.2%	-0.8%
Q3 25	55M	-1.3%	-0.9%
Q4 25	54M	-1.4%	-2.2%
Q1 26	53M	-1.9%	-4.2%
Q2 26	53M	-0.5%	-4.9%
Q3 26	53M	-0.7%	-4.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 22	$308.0K	2K
Q1 23	$247.4K	2K
Q2 23	$339.8K	2K
Q3 23	$371.2K	2K
Q4 23	$219.0K	2K
Q1 24	$186.3K	2K
Q2 24	$282.6K	2K
Q3 24	$363.7K	2K
Q4 24	$228.8K	2K
Q1 25	$230.2K	2K
Q2 25	$333.5K	2K
Q3 25	$342.0K	2K
Q4 25	$255.7K	2K
Q1 26	$245.3K	2K
Q2 26	$337.9K	2K
Q3 26	$349.8K	2K

Revenue / Employee