Cirrus Logic (CRUS) FY2025 results: revenue $1.9 billion, up 6.0% on the year

Cirrus Logic, Inc. (CRUS) reported revenue of $1.9 billion for fiscal 2025, the year ended 29 March 2025, up 6.0% on the year before. Net income was $332 million, up 20.7%, and diluted earnings per share $6.00. The figures are the company's own, from the 10-K it filed with the SEC on 23 May 2025.

Revenue

$1.9 billion

+6.0% on the year

FY2018FY2025

Operating margin

21.6%

19.2% a year earlier

FY2018FY2025

Net income

$332 million

+20.7% on the year

FY2018FY2025

Diluted EPS

$6.00

+22.4% on the year

FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2025 · Q2 FY2025 · Q3 FY2025 · Q4 FY2025

Income statement (profit and loss)

$ million	FY2025	FY2024	FY2023	On the year
Revenue	1,896	1,789	1,898	+6.0%
Cost of revenue	900	873	941	+3.1%
Gross profit	996	916	957	+8.7%
Gross margin	52.5%	51.2%	50.4%
Research and development	435	426	458	+1.9%
Selling, general and administrative	151	144	153	+4.7%
Operating income	410	343	249	+19.5%
Operating margin	21.6%	19.2%	13.1%
Interest expense	0.9	0.9	0.9	-1.9%
Pre-tax income	445	364	255	+22.3%
Income tax	113	89.4	78.0	+26.9%
Effective tax rate	25.5%	24.6%	30.6%
Net income	332	275	177	+20.7%
Net margin	17.5%	15.3%	9.3%
Diluted EPS	$6.00	$4.90	$3.09	+22.4%

$ million except per share.

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

$ million	FY2025	FY2024	FY2023	On the year
Operating cash flow	444	422	340	+5.4%
Capital expenditure	22.8	37.6	35.1	-39.5%
Free cash flow	422	384	304	+9.8%
Free cash flow margin	22.2%	21.5%	16.0%
Cash from investing	-124	-163	-33.3
Cash from financing	-283	-202	-230
Depreciation and amortisation	51.0	48.3	71.2	+5.5%
Share-based compensation	84.1	89.3	81.6	-5.7%
Buybacks	261	186	191	+40.3%
Diluted shares, weighted	55m	56m	57m	-1.4%
Shares outstanding at period end	52m	53m	55m	-2.2%

Balance sheet

$ million	FY2025	FY2024	FY2023	On the year
Shareholders' equity	1,949	1,817	1,658	+7.3%
Debt	0.0	0.0	0.0
Operating lease liabilities	122	135	123	-9.4%
Other liabilities	256	280	283	-8.7%
Total liabilities and equity	2,327	2,232	2,064	+4.3%
Fixed assets	160	170	163	-6.0%
Goodwill	436	436	436	0.0%
Intangible assets	27.5	29.6	38.9	-7.2%
Securities held for sale or to maturity	295	197	71.5	+49.7%
Cash and equivalents	540	503	446	+7.3%
Receivables	216	162	150	+32.9%
Inventory	299	227	233	+31.6%
Other assets	354	506	525	-30.1%
Total assets	2,327	2,232	2,064	+4.3%

10-K for the year ended 29 March 2025, filed 23 May 2025: the filing.