Cirrus Logic (CRUS) Q4 FY2025 earnings: revenue $424 million, up 14.2% on the year

Cirrus Logic, Inc. (CRUS) reported revenue of $424 million for Q4 FY2025, the quarter ended 29 March 2025, up 14.2% on the same quarter a year earlier. Net income was $71 million, up 58.9% on the year, and diluted earnings per share $1.31. The figures are the company's own, from the 10-K it filed with the SEC on 23 May 2025.

Revenue$424 millionup 14.2%

Net income$71 millionup 58.9%

Diluted EPS$1.31

QuarterQ4 FY2025ended 29 March 2025

The quarter, against the one before and a year earlier

Line	Q4 FY2025	Q3 FY2025	Q4 FY2024	Change on the year
Revenue	424	556	372	+14.2%
Cost of revenue	198	258	179	+10.3%
Gross profit	227	298	193	+17.7%
Gross margin	53.4%	53.6%	51.8%
Research and development	103	113	103	+0.0%
Selling, general and administrative	37.4	39.0	36.9	+1.4%
Operating income	85.9	146	52.4	+64.1%
Operating margin	20.2%	26.2%	14.1%
Interest expense	0.2	0.2	0.2	-0.5%
Pre-tax income	94.6	154	59.7	+58.6%
Income tax	23.3	37.7	14.8	+57.5%
Effective tax rate	24.7%	24.5%	24.8%
Net income	71.3	116	44.8	+58.9%
Net margin	16.8%	20.9%	12.1%
Diluted EPS	$1.31	$2.11	$0.81	+61.7%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q4 FY2025	Q3 FY2025	Q4 FY2024	Change on the year
Operating cash flow	130	219	171	-23.5%
Capital expenditure	3.4	6.7	7.1	-51.4%
Free cash flow	127	212	163	-22.3%
Free cash flow margin	29.9%	38.1%	44.0%
Cash from investing	-13.1	-39.1	-102	n/a
Cash from financing	-104	-98.8	-49.4	n/a
Depreciation and amortisation	13.2	12.8	12.0	+9.5%
Share-based compensation	19.5	20.8	22.2	-12.0%
Buybacks	100	70.0	50.0	+100.0%
Diluted shares, weighted	54m	55m	56m	-2.2%
Shares outstanding at period end	52m	53m	53m	-2.2%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2025	Q3 FY2025	Q4 FY2024	Change on the year
Shareholders' equity	1,949	1,963	1,817	+7.3%
Debt	0.0	n/a	0.0	n/a
Operating lease liabilities	122	125	135	-9.4%
Other liabilities	256	276	280	-8.7%
Total liabilities and equity	2,327	2,363	2,232	+4.3%
Fixed assets	160	164	170	-6.0%
Goodwill	436	436	436	+0.0%
Intangible assets	27.5	24.0	29.6	-7.2%
Securities held for sale or to maturity	295	290	197	+49.7%
Cash and equivalents	540	526	503	+7.3%
Receivables	216	262	162	+32.9%
Inventory	299	276	227	+31.6%
Other assets	354	385	506	-30.1%
Total assets	2,327	2,363	2,232	+4.3%

Quarterly results, the last 12 quarters

	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026 *	Q1 FY2027
Revenue	481	619	372	374	542	556	424	407	561	581	449	460
Cost of revenue	234	302	179	185	259	258	198	193	267	272	211	218
Gross profit	247	317	193	189	283	298	227	214	294	308	238	242
Gross margin	51%	51%	52%	51%	52%	54%	53%	53%	52%	53%	53%	53%
R&D	104	113	103	105	113	113	103	103	110	114	107	115
SG&A	34.3	37.6	36.9	36.8	37.8	39.0	37.4	38.7	39.6	41.6	39.9	42.4
Operating income	106	168	52.4	46.8	132	146	85.9	72.4	145	153	90.3	84.4
Operating margin	22%	27%	14%	13%	24%	26%	20%	18%	26%	26%	20%	18%
Interest expense	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.3
Pre-tax income	109	172	59.7	56.6	140	154	94.6	80.6	153	162	100	94.2
Tax rate	31%	19%	25%	26%	27%	25%	25%	25%	14%	14%	18%	18%
Net income	75.4	139	44.8	42.1	102	116	71.3	60.7	132	140	81.8	76.9
Net margin	16%	22%	12%	11%	19%	21%	17%	15%	23%	24%	18%	17%
Diluted EPS	$1.34	$2.50	$0.81	$0.76	$1.83	$2.11	$1.31	$1.14	$2.48	$2.66	$1.56	$1.47
Operating cash flow	-22.7	314	171	87.2	8.2	219	130	116	92.2	291	151	64.1
Capital expenditure	8.5	9.8	7.1	10.0	2.7	6.7	3.4	2.6	3.9	5.1	2.4	15.1
Free cash flow	-31.2	304	163	77.2	5.6	212	127	113	88.3	286	149	49.0
Buybacks	40.6	56.9	50.0	41.0	50.0	70.0	100	100.0	40.0	70.0	70.0	31.5
Shares outstanding	54m	54m	53m	53m	53m	53m	52m	51m	51m	51m	51m	50m
Filing	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 29 March 2025, filed 23 May 2025, accession 0000772406-25-000014: the filing on EDGAR. All of Cirrus Logic, Inc.'s filings: EDGAR company page.

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