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Semiconductors · Technology · Fiscal year ends Mar 27
Cirrus Logic reported revenue of $2B in the fiscal year ended Mar 2026, up 5.3% from the year before. Operating income was $460M, an operating margin of 23.0%, and net income was $414M. Operating cash flow of $651M less capital expenditure of $14M left free cash flow of $637M.
Ranks among the 51 semiconductors companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue | 1,781 | 1,898 | 1,789 | 1,896 | 1,997 |
| Cost of revenue | 858 | 941 | 873 | 900 | 943 |
| Gross profit | 924 | 957 | 916 | 996 | 1,054 |
| Research & development | 406 | 458 | 426 | 435 | 434 |
| Selling, general & admin | 151 | 153 | 144 | 151 | 160 |
| Operating income | 366 | 249 | 343 | 410 | 460 |
| Interest expense | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 |
| Pre-tax income | 369 | 255 | 364 | 445 | 497 |
| Income tax | 42.3 | 78.0 | 89.4 | 113 | 82.3 |
| Net income | 326 | 177 | 275 | 332 | 414 |
| Diluted EPS | 5.52 | 3.09 | 4.90 | 6.00 | 7.85 |
| Diluted shares | 59.1 | 57.2 | 56.0 | 55.2 | 52.8 |
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | 370 | 446 | 503 | 540 | 801 |
| Receivables | 240 | 150 | 162 | 216 | 220 |
| Inventory | 138 | 233 | 227 | 299 | 241 |
| Current assets | 840 | 1,018 | 1,106 | 1,240 | 1,434 |
| Net PP&E | 157 | 163 | 170 | 160 | 144 |
| Goodwill | 436 | 436 | 436 | 436 | 436 |
| Total assets | 2,123 | 2,064 | 2,232 | 2,327 | 2,489 |
| Payables | 115 | 81.5 | 55.5 | 63.2 | 80.6 |
| Current liabilities | 265 | 216 | 186 | 195 | 195 |
| Total liabilities | 524 | 406 | 415 | 378 | 361 |
| Shareholders' equity | 1,600 | 1,658 | 1,817 | 1,949 | 2,128 |
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Operating cash flow | 125 | 340 | 422 | 444 | 651 |
| Capital expenditure | 26.1 | 35.1 | 37.7 | 22.8 | 14.0 |
| Free cash flow | 98.6 | 304 | 384 | 422 | 637 |
| Depreciation & amortisation | 62.1 | 71.2 | 48.3 | 51.0 | 52.3 |
| Stock-based compensation | 66.4 | 81.6 | 89.3 | 84.1 | 81.8 |
| Acquisitions | 277 | 0.0 | 0.0 | – | – |
| Share buybacks | 168 | 191 | 186 | 261 | 280 |
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 6.5% | −5.7% | 6.0% | 5.3% |
| Operating income growth (YoY) | – | −32.0% | 37.9% | 19.5% | 12.2% |
| EPS growth (YoY) | – | −44.0% | 58.6% | 22.4% | 30.8% |
| Gross margin | 51.8% | 50.4% | 51.2% | 52.5% | 52.8% |
| Operating margin | 20.6% | 13.1% | 19.2% | 21.6% | 23.0% |
| Net margin | 18.3% | 9.3% | 15.3% | 17.5% | 20.7% |
| Return on equityBlank when equity is negative | 20.4% | 10.7% | 15.1% | 17.0% | 19.5% |
| ROCEEBIT ÷ (assets − current liabilities) | 19.7% | 13.5% | 16.8% | 19.2% | 20.1% |
| Free cash flow margin | 5.5% | 16.0% | 21.5% | 22.2% | 31.9% |
| Cash conversion (CFO ÷ net income) | 0.38x | 1.92x | 1.54x | 1.34x | 1.57x |
| Receivable days | 49 | 29 | 33 | 42 | 40 |
| Inventory days | 59 | 91 | 95 | 121 | 93 |
| Payable days | 49 | 32 | 23 | 26 | 31 |
| Interest cover | 386x | 277x | 375x | 457x | 513x |
| Current ratio | 3.17x | 4.70x | 5.93x | 6.35x | 7.37x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.