Latest Ratios: P/E Ratio 19.0x · EV/EBITDA 14.2x · ROE 20.3%. (1997–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $7.6B | $7.5B | $5.5B | $5.2B | $6.3B | $5.0B | $5.1B | $4.0B | $2.6B | $2.7B | $4.0B |
| Enterprise Value | $6.9B | $6.8B | $5.1B | $4.8B | $6.0B | $4.8B | $4.8B | $3.8B | $2.4B | $2.4B | $3.7B |
| P/E Ratio → | 18.98 | 18.29 | 16.59 | 18.89 | 35.40 | 15.36 | 23.42 | 24.86 | 28.82 | 16.52 | 15.48 |
| P/S Ratio | 3.80 | 3.76 | 2.90 | 2.90 | 3.30 | 2.81 | 3.72 | 3.10 | 2.19 | 1.75 | 2.62 |
| P/B Ratio | 3.66 | 3.53 | 2.82 | 2.85 | 3.77 | 3.13 | 3.67 | 3.23 | 2.27 | 2.31 | 3.51 |
| P/FCF | — | — | 13.23 | 13.50 | 20.67 | 52.93 | 15.40 | 14.16 | 15.16 | 11.44 | 12.68 |
| P/OCF | — | — | 12.37 | 12.30 | 18.43 | 40.20 | 14.59 | 13.41 | 12.53 | 8.41 | 10.93 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.43 | 2.69 | 2.70 | 3.14 | 2.71 | 3.50 | 2.98 | 2.00 | 1.60 | 2.44 |
| EV / EBITDA | 14.24 | 14.07 | 11.06 | 12.35 | 19.22 | 11.26 | 17.33 | 16.34 | 13.15 | 7.11 | 9.85 |
| EV / EBIT | 15.04 | 17.66 | 11.47 | 13.26 | 23.29 | 13.05 | 19.46 | 20.95 | 24.77 | 9.18 | 11.76 |
| EV / FCF | — | — | 12.27 | 12.60 | 19.66 | 50.90 | 14.49 | 13.63 | 13.89 | 10.44 | 11.77 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 52.8% | 52.8% | 52.5% | 51.2% | 50.4% | 51.8% | 51.7% | 52.6% | 50.4% | 49.6% | 49.2% |
| Operating Margin | 23.0% | 23.0% | 21.6% | 19.2% | 13.1% | 20.6% | 17.3% | 13.5% | 8.5% | 17.1% | 20.6% |
| Net Profit Margin | 20.7% | 20.7% | 17.5% | 15.3% | 9.3% | 18.3% | 15.9% | 12.4% | 7.6% | 10.6% | 17.0% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 20.3% | 20.3% | 17.6% | 15.8% | 10.8% | 21.8% | 16.6% | 13.5% | 7.8% | 14.0% | 26.0% |
| ROA | 17.2% | 17.2% | 14.5% | 12.8% | 8.4% | 16.5% | 12.7% | 10.8% | 6.5% | 11.4% | 20.1% |
| ROIC | 22.9% | 22.9% | 20.4% | 18.2% | 13.5% | 22.0% | 16.4% | 13.0% | 8.2% | 22.0% | 27.8% |
| ROCE | 20.8% | 20.8% | 19.6% | 17.6% | 13.4% | 21.1% | 15.5% | 13.0% | 8.0% | 20.5% | 27.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.06 | 0.06 | 0.07 | 0.09 | 0.09 | 0.11 | 0.10 | 0.12 | — | — | 0.05 |
| Debt / EBITDA | 0.28 | 0.28 | 0.31 | 0.40 | 0.46 | 0.42 | 0.52 | 0.61 | — | — | 0.16 |
| Net Debt / Equity | — | -0.31 | -0.20 | -0.19 | -0.18 | -0.12 | -0.22 | -0.12 | -0.19 | -0.20 | -0.25 |
| Net Debt / EBITDA | -1.37 | -1.37 | -0.86 | -0.89 | -0.98 | -0.45 | -1.08 | -0.64 | -1.20 | -0.69 | -0.77 |
| Debt / FCF | — | — | -0.95 | -0.91 | -1.01 | -2.03 | -0.91 | -0.53 | -1.26 | -1.01 | -0.91 |
| Interest Coverage | 570.56 | 570.56 | 495.45 | 398.74 | 284.67 | 389.89 | 233.02 | 172.49 | 90.69 | 230.92 | 88.51 |
Net cash position: cash ($801M) exceeds total debt ($134M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 7.37 | 7.37 | 6.35 | 5.93 | 4.70 | 3.17 | 3.94 | 4.10 | 5.41 | 4.38 | 5.39 |
| Quick Ratio | 6.13 | 6.13 | 4.82 | 4.72 | 3.63 | 2.65 | 3.13 | 3.17 | 3.98 | 2.91 | 4.22 |
| Cash Ratio | 4.56 | 4.56 | 3.05 | 2.82 | 2.22 | 1.44 | 2.33 | 1.98 | 2.48 | 1.87 | 3.13 |
| Asset Turnover | — | 0.80 | 0.81 | 0.80 | 0.92 | 0.84 | 0.75 | 0.80 | 0.88 | 1.07 | 1.09 |
| Inventory Turnover | 3.92 | 3.92 | 3.01 | 3.84 | 4.03 | 6.20 | 3.82 | 4.14 | 3.57 | 3.75 | 4.65 |
| Days Sales Outstanding | — | 40.23 | 41.58 | 33.15 | 28.94 | 49.23 | 28.98 | 43.88 | 37.15 | 24.01 | 28.45 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.3% | 5.5% | 6.0% | 5.3% | 2.8% | 6.5% | 4.3% | 4.0% | 3.5% | 6.1% | 6.5% |
| FCF Yield | — | — | 7.6% | 7.4% | 4.8% | 1.9% | 6.5% | 7.1% | 6.6% | 8.7% | 7.9% |
| Buyback Yield | 0.0% | 0.0% | 5.4% | 4.0% | 3.3% | 3.8% | 2.5% | 3.5% | 6.7% | 7.2% | 0.7% |
| Total Shareholder Yield | 0.0% | 0.0% | 5.4% | 4.0% | 3.3% | 3.8% | 2.5% | 3.5% | 6.7% | 7.2% | 0.7% |
| Shares Outstanding | — | $52M | $55M | $56M | $57M | $59M | $60M | $60M | $62M | $66M | $67M |
Extreme customer concentration risk
According to current market data, CRUS trades at a forward P/E of 16.16, which appears to incorporate a persistent valuation discount relative to diversified analog peers, likely reflecting investor caution regarding the company's extreme reliance on a single Tier-1 smartphone OEM for the majority of its revenue.
The current PEG ratio of 1.12 suggests that the market is pricing in moderate growth expectations, yet the valuation remains constrained by the binary risk inherent in the company's design-win dependency. Investors should monitor whether the expansion into the laptop market acts as a catalyst for a valuation re-rating, as the current multiple appears to treat the company as a component supplier rather than a diversified mixed-signal powerhouse.
Based on reported financial statements, ROIC has fluctuated between 2.4% and 8.2% over the last ten quarters, suggesting that the company's ability to compound capital is highly sensitive to the seasonal volume cycles of its primary customer rather than consistent operational efficiency across all product lines.
The observed volatility in ROIC indicates that while the company maintains strong gross margins, its return on invested capital is frequently diluted by the heavy R&D and inventory requirements needed to support its specialized product roadmap. This trend warrants further investigation into whether management can sustain higher returns as they scale the HPMS segment beyond the core audio business.
As reported in quarterly filings, the cash conversion cycle has remained elevated, peaking at 154 days in 2025Q4, which highlights the company's reliance on significant inventory buffers to meet the aggressive production schedules of its dominant smartphone partner during peak seasonal windows.
The high days-inventory-outstanding (DIO) relative to peers suggests that Cirrus Logic must carry substantial stock to mitigate supply chain risks, which temporarily ties up capital and impacts cash flow efficiency. This structural necessity appears to be a trade-off for maintaining the deep architectural integration that secures its design-win moat.
According to recent balance sheet data, the company maintains a negligible debt-to-equity ratio of 0.06, providing a fortress-like financial position that effectively eliminates refinancing risk and offers significant flexibility to navigate the inherent volatility of the consumer electronics semiconductor market.
The lack of meaningful debt suggests that management prioritizes financial stability over leverage-driven growth, which is a prudent strategy given the company's extreme revenue concentration. This conservative capital structure appears to be a key defensive asset, allowing the firm to weather potential demand shocks without the pressure of interest obligations.
Investors frequently misapply standard P/E multiples to CRUS without adjusting for the significant cash-heavy balance sheet and the lumpy, seasonal nature of its earnings, which often obscures the underlying cash-generative capacity of the business model during non-peak quarters.
Because the company holds substantial cash and maintains a highly seasonal revenue profile, the P/E ratio can be misleadingly high during periods of lower seasonal volume. A more accurate assessment of the company's earning power would involve evaluating EV/EBITDA or free cash flow yields, which better account for the company's net cash position and the cyclicality of its working capital requirements.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying CRUS stock.
Cirrus Logic, Inc.'s current P/E ratio is 19.0x. The historical average is 21.4x. This places it at the 61th percentile of its historical range.
Cirrus Logic, Inc.'s current EV/EBITDA is 14.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.7x.
Cirrus Logic, Inc.'s return on equity (ROE) is 20.3%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 3.7%.
Based on historical data, Cirrus Logic, Inc. is trading at a P/E of 19.0x. This is at the 61th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Cirrus Logic, Inc. has 52.8% gross margin and 23.0% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Cirrus Logic, Inc.'s Debt/EBITDA ratio is 0.3x, indicating low leverage. A ratio below 2x is generally considered financially healthy.