Cirrus Logic, Inc.

Name: Cirrus Logic, Inc. financial statements and ratios
Creator: Annalist

CRUS · Nasdaq · Technology, semiconductors · United States · US GAAP · Fiscal year ends March

Latest report: Q2 FY2027, the quarter ended 26 September 2026, released 4 November 2026. Snapshot FY2027Q2_afd76654.

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Overview

Revenue, quarter

−0.3% year on year

Operating income, quarter

−8.6% year on year

Net income, quarter

−12.8% year on year

Diluted EPS, quarter

−10.1% year on year

Operating margin, last 4 quarters

−0.6pp year on year

Return on equity, last 4 quarters

+0.4pp year on year

Select a figure to see the document it came from.

Key Findings

Findings for the latest quarter, with their history over earlier quarters.

Revenue for the quarter ended 26 September 2026 was US$559 million, 0.3% lower than in the same quarter a year earlier.
Newin Q2 FY2027 · first stated
Rule: Revenue against a year earlier · Sources 10-Q 2026-09
History of this finding, 12 records
1. Q2 FY2027 NewRevenue for the quarter ended 26 September 2026 was US$559 million, 0.3% lower than in the same quarter a year earlier.Recorded from FY2027Q2_afd76654 · data update
2. Q2 FY2027 RetiredThe finding changed to lower than a year earlier.Recorded from FY2027Q2_afd76654 · data update
3. Q1 FY2027 StrengthenedRevenue for the quarter ended 27 June 2026 was US$460 million, 12.9% higher than in the same quarter a year earlier.Reconstructed · data update
4. Q4 FY2026 StrengthenedRevenue for the quarter ended 28 March 2026 was US$449 million, 5.7% higher than in the same quarter a year earlier.Reconstructed · data update
5. Q3 FY2026 ConfirmedRevenue for the quarter ended 27 December 2025 was US$581 million, 4.5% higher than in the same quarter a year earlier.Reconstructed · data update
6. Q2 FY2026 WeakenedRevenue for the quarter ended 27 September 2025 was US$561 million, 3.5% higher than in the same quarter a year earlier.Reconstructed · data update
7. Q1 FY2026 WeakenedRevenue for the quarter ended 28 June 2025 was US$407 million, 8.9% higher than in the same quarter a year earlier.Reconstructed · data update
8. Q4 FY2025 NewRevenue for the quarter ended 29 March 2025 was US$424 million, 14.2% higher than in the same quarter a year earlier.Reconstructed · data update
9. Q4 FY2025 RetiredThe finding changed to higher than a year earlier.Reconstructed · data update
10. Q3 FY2025 NewRevenue for the quarter ended 28 December 2024 was US$556 million, 10.2% lower than in the same quarter a year earlier.Reconstructed · data update
11. Q3 FY2025 RetiredThe finding changed to lower than a year earlier.Reconstructed · data update
12. Q2 FY2025 NewRevenue for the quarter ended 28 September 2024 was US$542 million, 12.6% higher than in the same quarter a year earlier.Reconstructed · initial
Net income attributable to the company was US$115 million, 12.8% lower than in the same quarter a year earlier.
Newin Q2 FY2027 · first stated
Rule: Net income against a year earlier · Sources 10-Q 2026-09
History of this finding, 12 records
1. Q2 FY2027 NewNet income attributable to the company was US$115 million, 12.8% lower than in the same quarter a year earlier.Recorded from FY2027Q2_afd76654 · data update
2. Q2 FY2027 RetiredThe finding changed to lower than a year earlier.Recorded from FY2027Q2_afd76654 · data update
3. Q1 FY2027 StrengthenedNet income attributable to the company was US$77 million, 26.6% higher than in the same quarter a year earlier.Reconstructed · data update
4. Q4 FY2026 WeakenedNet income attributable to the company was US$82 million, 14.8% higher than in the same quarter a year earlier.Reconstructed · data update
5. Q3 FY2026 WeakenedNet income attributable to the company was US$140 million, 21.0% higher than in the same quarter a year earlier.Reconstructed · data update
6. Q2 FY2026 WeakenedNet income attributable to the company was US$132 million, 28.8% higher than in the same quarter a year earlier.Reconstructed · data update
7. Q1 FY2026 WeakenedNet income attributable to the company was US$61 million, 44.2% higher than in the same quarter a year earlier.Reconstructed · data update
8. Q4 FY2025 NewNet income attributable to the company was US$71 million, 58.9% higher than in the same quarter a year earlier.Reconstructed · data update
9. Q4 FY2025 RetiredThe finding changed to higher than a year earlier.Reconstructed · data update
10. Q3 FY2025 NewNet income attributable to the company was US$116 million, 16.4% lower than in the same quarter a year earlier.Reconstructed · data update
11. Q3 FY2025 RetiredThe finding changed to lower than a year earlier.Reconstructed · data update
12. Q2 FY2025 NewNet income attributable to the company was US$102 million, 35.5% higher than in the same quarter a year earlier.Reconstructed · initial
The operating margin over the last 4 quarters was 22.5%, 0.6 percentage points lower than a year earlier.
Newin Q2 FY2027 · first stated
Rule: Operating margin against a year earlier · Sources 10-Q 2025-12, 10-K 2026-03, 10-Q 2026-06 and 1 more
History of this finding, 10 records
1. Q2 FY2027 NewThe operating margin over the last 4 quarters was 22.5%, 0.6 percentage points lower than a year earlier.Recorded from FY2027Q2_afd76654 · data update
2. Q2 FY2027 RetiredThe finding changed to lower than a year earlier.Recorded from FY2027Q2_afd76654 · data update
3. Q1 FY2027 WeakenedThe operating margin over the last 4 quarters was 23.0%, 0.5 percentage points higher than a year earlier.Reconstructed · data update
4. Q4 FY2026 WeakenedThe operating margin over the last 4 quarters was 23.0%, 1.4 percentage points higher than a year earlier.Reconstructed · data update
5. Q3 FY2026 StrengthenedThe operating margin over the last 4 quarters was 23.1%, 2.7 percentage points higher than a year earlier.Reconstructed · data update
6. Q2 FY2026 WeakenedThe operating margin over the last 4 quarters was 23.0%, 2.1 percentage points higher than a year earlier.Reconstructed · data update
7. Q1 FY2026 ConfirmedThe operating margin over the last 4 quarters was 22.6%, 2.4 percentage points higher than a year earlier.Reconstructed · data update
8. Q4 FY2025 WeakenedThe operating margin over the last 4 quarters was 21.6%, 2.4 percentage points higher than a year earlier.Reconstructed · data update
9. Q3 FY2025 WeakenedThe operating margin over the last 4 quarters was 20.4%, 7.7 percentage points higher than a year earlier.Reconstructed · data update
10. Q2 FY2025 NewThe operating margin over the last 4 quarters was 20.9%, 9.4 percentage points higher than a year earlier.Reconstructed · initial
Return on equity over the last 4 quarters was 19.5%, against 19.1% a year earlier.
Weakenedin Q2 FY2027 · stated since Q2 FY2025
Rule: Return on equity against a year earlier · Sources 10-Q 2025-09, 10-Q 2026-09, 10-Q 2025-12 and 3 more
History of this finding, 9 records
1. Q2 FY2027 WeakenedReturn on equity over the last 4 quarters was 19.5%, against 19.1% a year earlier.Recorded from FY2027Q2_afd76654 · data update
2. Q1 FY2027 ConfirmedReturn on equity over the last 4 quarters was 20.9%, against 18.5% a year earlier.Reconstructed · data update
3. Q4 FY2026 WeakenedReturn on equity over the last 4 quarters was 20.3%, against 17.6% a year earlier.Reconstructed · data update
4. Q3 FY2026 StrengthenedReturn on equity over the last 4 quarters was 19.9%, against 16.2% a year earlier.Reconstructed · data update
5. Q2 FY2026 ConfirmedReturn on equity over the last 4 quarters was 19.1%, against 18.0% a year earlier.Reconstructed · data update
6. Q1 FY2026 ConfirmedReturn on equity over the last 4 quarters was 18.5%, against 17.2% a year earlier.Reconstructed · data update
7. Q4 FY2025 WeakenedReturn on equity over the last 4 quarters was 17.6%, against 15.8% a year earlier.Reconstructed · data update
8. Q3 FY2025 WeakenedReturn on equity over the last 4 quarters was 16.2%, against 10.0% a year earlier.Reconstructed · data update
9. Q2 FY2025 NewReturn on equity over the last 4 quarters was 18.0%, against 8.4% a year earlier.Reconstructed · initial
Free cash flow over the last 4 quarters was US$526 million, and operating cash flow was 1.3 times net income attributable to the company.
Interpretation. Operating cash flow paid for all capital expenditure, and the rest is free for dividends, share buybacks or debt repayment.
Weakenedin Q2 FY2027 · stated since Q2 FY2025
Rule: Free cash flow · Sources 10-Q 2025-09, 10-Q 2025-12, 10-K 2026-03 and 2 more
History of this finding, 9 records
1. Q2 FY2027 WeakenedFree cash flow over the last 4 quarters was US$526 million, and operating cash flow was 1.3 times net income attributable to the company.Recorded from FY2027Q2_afd76654 · data update
2. Q1 FY2027 WeakenedFree cash flow over the last 4 quarters was US$572 million, and operating cash flow was 1.4 times net income attributable to the company.Reconstructed · data update
3. Q4 FY2026 ConfirmedFree cash flow over the last 4 quarters was US$637 million, and operating cash flow was 1.6 times net income attributable to the company.Reconstructed · data update
4. Q3 FY2026 StrengthenedFree cash flow over the last 4 quarters was US$615 million, and operating cash flow was 1.6 times net income attributable to the company.Reconstructed · data update
5. Q2 FY2026 StrengthenedFree cash flow over the last 4 quarters was US$541 million, and operating cash flow was 1.5 times net income attributable to the company.Reconstructed · data update
6. Q1 FY2026 StrengthenedFree cash flow over the last 4 quarters was US$458 million, and operating cash flow was 1.4 times net income attributable to the company.Reconstructed · data update
7. Q4 FY2025 WeakenedFree cash flow over the last 4 quarters was US$422 million, and operating cash flow was 1.3 times net income attributable to the company.Reconstructed · data update
8. Q3 FY2025 WeakenedFree cash flow over the last 4 quarters was US$458 million, and operating cash flow was 1.6 times net income attributable to the company.Reconstructed · data update
9. Q2 FY2025 NewFree cash flow over the last 4 quarters was US$550 million, and operating cash flow was 1.8 times net income attributable to the company.Reconstructed · initial

Records before Q2 FY2027 are reconstructed from the latest snapshot. Ledger: findings.json.

Credit, liquidity, earnings quality and score findings: Analysis.

Data

Source documents27 documents, latest Form 10-Q, period ended 26 September 2026List

DownloadsExcel workbook · JSON · Brief for AI

SnapshotFY2027Q2_afd76654

Corporate Events

Acquisitions paid in cash26 March 2022
Paid US$277 million in cash for business acquisitions in fiscal 2022, 15.1% of total assets at the start of the year.
Source 10-K 2024-03
Acquisition20 July 2021
Completed the acquisition of Lion Semiconductor Inc.
Source 8-K 2021-07

Earnings, Returns and Balance Sheet

Revenue

By quarter, US dollars

Operating Income

By quarter, US dollars

Net Income Attributable to the Company

By quarter, US dollars

Margins

Last 4 quarters at each quarter end, per cent

Returns

Last 4 quarters, per cent

Free Cash Flow

Operating cash flow less capital expenditure, by quarter, US dollars

Diluted Earnings per Share

By quarter, as reported

Financial Statements

Figures as filed. Select a figure for its source document and method; a small d marks a quarter derived from cumulative reports.

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Ratios

Select a ratio for its formula and the figures it uses, each with its document; (i) gives its definition.

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Analysis

Credit update

Q2 FY2027

Form 10-Q, period ended 26 September 2026, filed 4 November 2026. Changes are against the previous report, and each figure shows its period.

6changes0thresholds crossed

Changes in This Report 6

NewRevenue Against a Year Earlier10-Q 2026-09
Revenue for the quarter ended 26 September 2026 was US$559 million, 0.3% lower than in the same quarter a year earlier.
Earlier record, Q1 FY2027
Revenue for the quarter ended 27 June 2026 was US$460 million, 12.9% higher than in the same quarter a year earlier.
NewNet Income Against a Year Earlier10-Q 2026-09
Net income attributable to the company was US$115 million, 12.8% lower than in the same quarter a year earlier.
Earlier record, Q1 FY2027
Net income attributable to the company was US$77 million, 26.6% higher than in the same quarter a year earlier.
NewOperating Margin Against a Year Earlier10-Q 2026-09
The operating margin over the last 4 quarters was 22.5%, 0.6 percentage points lower than a year earlier.
Earlier record, Q1 FY2027
The operating margin over the last 4 quarters was 23.0%, 0.5 percentage points higher than a year earlier.
WeakenedReturn on Equity Against a Year Earlier10-Q 2026-09
Return on equity over the last 4 quarters was 19.5%, against 19.1% a year earlier.
Earlier record, Q1 FY2027
Return on equity over the last 4 quarters was 20.9%, against 18.5% a year earlier.

2 more changes

WeakenedFree Cash Flow10-Q 2026-09
Free cash flow over the last 4 quarters was US$526 million, and operating cash flow was 1.3 times net income attributable to the company.
Earlier record, Q1 FY2027
Free cash flow over the last 4 quarters was US$572 million, and operating cash flow was 1.4 times net income attributable to the company.
WeakenedCash Backing of Earnings10-Q 2026-09
Operating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 5.7% of average total assets.
Earlier record, Q1 FY2027
Operating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 6.9% of average total assets.

Thresholds Crossed 0

No published finding crosses a threshold.

Fiscal years and the latest quarter, with flows over the last 4 quarters and balances at the quarter end. Select a value for its formula and the figures it uses.

Credit MetricsLease-adjusted debt, EBITDA and cash flow on the definitions of S&P and Moody's, as far as the filings allow.

Lease-adjusted debt, EBITDA and cash flow on the definitions of S&P and Moody's, as far as the filings allow.

By Fiscal Year

Ratio	FY202226 Mar 2022	FY202325 Mar 2023	FY202430 Mar 2024	FY202529 Mar 2025	FY202628 Mar 2026	Q2 FY2027latest quarter
Adjusted EBITDAOperating profit before depreciation, amortisation, goodwill impairment, pay in shares and lease costs: the earnings that credit analysts set against lease-adjusted debt.EBIT + depreciation and amortisation + goodwill impairment + share-based compensation + operating lease cost						est.
Funds from operationsAdjusted EBITDA less interest and tax paid in cash: the cash the business produces each year for investment, dividends and debt repayment.Adjusted EBITDA - cash interest - lease interest - cash taxes						est.
FFO cash interest coverThe number of times cash earnings cover cash interest, lease interest included.(FFO + cash interest + lease interest) / (cash interest + lease interest)						est.
EBITDA interest coverThe number of times adjusted EBITDA covers interest, lease interest included.Adjusted EBITDA / (interest expense + lease interest)						est.
EBITA interest coverOperating profit before the amortisation of acquired intangible assets and goodwill impairment, divided by interest expense.(EBIT + amortisation of intangible assets + goodwill impairment) / interest expense

Reconciliation of the Credit Figures

Item	FY202226 Mar 2022	FY202325 Mar 2023	FY202430 Mar 2024	FY202529 Mar 2025	FY202628 Mar 2026	Q2 FY2027latest quarter
EBIT	$366m	$249m	$343m	$410m	$460m	$460m
Depreciation and amortisation	$62.1m	$71.2m	$48.3m	$51.0m	$52.3m	$53.2m
Goodwill impairment	$0	$0	$0	$0	$0	$0
Share-based compensation	$66.4m	$81.6m	$89.3m	$84.1m	$81.8m	$79.3m
Operating lease cost	$14.9m	$18.1m	$17.5m	$19.8m	$19.7m	$19.7m
Adjusted EBITDA	$510m	$420m	$499m	$565m	$614m	$612m
Cash interest	−$572,000	−$537,000	−$658,000	−$404,000	−$532,000	−$1.0m
Lease interest	−$6.4m	−$6.4m	−$5.9m	−$6.0m	−$5.6m	−$2.7m
Cash taxes	−$35.7m	−$92.0m	−$43.4m	−$51.7m	−$49.6m	−$85.1m
Funds from operations	$467m	$321m	$449m	$507m	$559m	$523m

Method

Lease-adjusted debt is total debt plus operating lease liabilities, before the deduction of cash. Adjusted EBITDA adds goodwill impairment, share-based compensation and operating lease cost to EBIT and depreciation and amortisation; restructuring and litigation charges, other impairments and profits on disposals stay in EBIT. FFO deducts cash interest, lease interest and cash taxes.
Lease interest is the average operating lease liability times the weighted average discount rate of the leases, or the implied cost of debt where the rate is not reported.
S&P applies its table to its own adjusted figures, which also deduct surplus cash and adjust for pensions and other items, so the band of an S&P calculation can differ.
Operating lease cost is reported in the annual report only. Over the last 4 quarters, the lease figures that the quarters do not report are estimated from the latest fiscal year, and every value computed with such an estimate is marked.

Liquidity and MaturitiesCash and operating cash flow against debt due within 12 months, capital expenditure and dividends.

Cash and operating cash flow against debt due within 12 months, capital expenditure and dividends.

These ratios have no value for the figures of this company.

Method

Debt due within 12 months is the larger of the first year of the maturity schedule and the current portion of long-term debt, plus short-term borrowings. The schedule of a quarterly report can cover the rest of the fiscal year only and leaves out finance leases.
Capital expenditure and dividends of the fiscal year, or of the last 4 quarters, are taken as those of the next 12 months. Undrawn credit facilities are not included.

Earnings QualityCash-flow accruals −5.7%, Operating cash flow to EBITDA 1.09x · Q2 FY2027

Accruals and the cash backing of reported earnings.

Operating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 5.7% of average total assets.
Interpretation. The profit came in as cash: operating cash flow was larger than net income. Profit backed by cash tends to repeat more than profit made of accounting entries (Sloan, 1996).
Weakenedin Q2 FY2027 · stated since Q2 FY2025−5.7% from −6.9% in Q1 FY2027
Rule: Cash backing of earnings · Sources 10-Q 2025-09, 10-Q 2026-09, 10-Q 2025-12 and 2 more
History of this finding, 9 records
1. Q2 FY2027 WeakenedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 5.7% of average total assets.Recorded from FY2027Q2_afd76654 · data update
2. Q1 FY2027 WeakenedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 6.9% of average total assets.Reconstructed · data update
3. Q4 FY2026 ConfirmedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 9.8% of average total assets.Reconstructed · data update
4. Q3 FY2026 StrengthenedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 9.4% of average total assets.Reconstructed · data update
5. Q2 FY2026 StrengthenedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 7.4% of average total assets.Reconstructed · data update
6. Q1 FY2026 ConfirmedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 5.4% of average total assets.Reconstructed · data update
7. Q4 FY2025 WeakenedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 5.0% of average total assets.Reconstructed · data update
8. Q3 FY2025 WeakenedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 7.8% of average total assets.Reconstructed · data update
9. Q2 FY2025 NewOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 11.3% of average total assets.Reconstructed · initial

Net Income and Operating Cash Flow

Last 4 quarters at each quarter end, US dollars

By Fiscal Year

Ratio	FY202226 Mar 2022	FY202325 Mar 2023	FY202430 Mar 2024	FY202529 Mar 2025	FY202628 Mar 2026	Q2 FY2027latest quarter
Cash-flow accrualsNet income less operating cash flow, against average assets: the part of profit not received in cash in the same period. Research associates high accruals with lower earnings in later years; a negative figure means cash exceeded profit.(Net income attributable to the company - operating cash flow) / average total assets
Balance sheet accrualsThe same gap between profit and cash, measured from the changes in the balance sheet (Sloan, 1996).[(Change in current assets - change in cash) - (change in current liabilities - change in short-term debt - change in taxes payable) - depreciation and amortisation] / average total assets (Sloan, 1996)
Total accrualsAccruals that also cover long-term operating and financial assets and liabilities (Richardson, Sloan, Soliman and Tuna, 2005). Acquisitions raise the figure.Change in net operating working capital, net non-current operating assets and net financial assets / average total assets (Richardson, Sloan, Soliman and Tuna, 2005)
Operating cash flow to EBITDAOperating cash flow against EBITDA: the part of operating profit before depreciation that turns into cash after interest, tax and changes in stock, receivables and payables.Operating cash flow / (operating income + depreciation and amortisation)
Free cash flow to net incomeFree cash flow against net income. Below 1, investment and working capital take up part of the profit.(Operating cash flow - capital expenditure) / net income attributable to the company
Working capital investment to revenueCash put into receivables and stock, less extra credit from suppliers and customers, as a share of revenue. A positive figure means growth or slower collection uses cash.(Increase in receivables + increase in inventories - increase in payables - increase in contract liabilities) / revenue

Method

Cash-flow accruals are net income attributable to the company less operating cash flow, over average total assets. Balance sheet accruals follow Sloan (1996) and total accruals Richardson, Sloan, Soliman and Tuna (2005).
Balance sheet and total accruals include the assets and liabilities that acquisitions bring in and disposals take out; cash-flow accruals exclude them.

Forensic and Distress ScoresAltman Z'' 10.93, Beneish −2.93 · Piotroski 9 of 9 · Last 4 quarters 10.38 at Q2 FY2027 · FY2026

Published distress and misstatement models, with their original coefficients and thresholds.

The Altman Z'' score for fiscal 2026 was 10.93, above the safe threshold of 2.60.
Interpretation. By this model, the balance sheet and earnings look like those of companies that did not go bankrupt in its original study: above 2.60 means safe, below 1.10 distress.
Strengthenedin FY2026 · stated since FY202410.93 from 9.68 in FY2025
Rule: Altman Z'' zone · Sources 10-Q 2026-09, 10-K 2026-03
History of this finding, 3 records
1. FY2026 StrengthenedThe Altman Z'' score for fiscal 2026 was 10.93, above the safe threshold of 2.60.Reconstructed · data update
2. FY2025 StrengthenedThe Altman Z'' score for fiscal 2025 was 9.68, above the safe threshold of 2.60.Reconstructed · data update
3. FY2024 NewThe Altman Z'' score for fiscal 2024 was 8.43, above the safe threshold of 2.60.Reconstructed · initial
The Beneish M-score for fiscal 2026 was minus 2.93, below the model threshold of minus 1.78.
Interpretation. The model finds no sign of earnings manipulation. Beneish (1999) set a threshold of minus 1.78, above which a company resembles the companies that manipulated their earnings.
Strengthenedin FY2026 · stated since FY2024−2.93 from −2.47 in FY2025
Rule: Beneish M-score against its threshold · Sources 10-K 2026-03, 10-K 2025-03, 10-Q 2026-09
History of this finding, 3 records
1. FY2026 StrengthenedThe Beneish M-score for fiscal 2026 was minus 2.93, below the model threshold of minus 1.78.Reconstructed · data update
2. FY2025 WeakenedThe Beneish M-score for fiscal 2025 was minus 2.47, below the model threshold of minus 1.78.Reconstructed · data update
3. FY2024 NewThe Beneish M-score for fiscal 2024 was minus 2.60, below the model threshold of minus 1.78.Reconstructed · initial
The Piotroski F-score for fiscal 2026 was 9 of 9.
Interpretation. The score counts how many of 9 tests of profit, debt, liquidity and efficiency the company passes. A score of 7 to 9 is the strongest group: Piotroski (2000) placed 0 to 3 in the weakest.
Strengthenedin FY2026 · stated since FY20249.00 from 8.00 in FY2025
Rule: Piotroski F-score · Sources 10-K 2025-03, 10-K 2026-03, 10-Q 2026-09
History of this finding, 3 records
1. FY2026 StrengthenedThe Piotroski F-score for fiscal 2026 was 9 of 9.Reconstructed · data update
2. FY2025 ConfirmedThe Piotroski F-score for fiscal 2025 was 8 of 9. The signal not met was asset turnover higher than a year earlier.Reconstructed · data update
3. FY2024 NewThe Piotroski F-score for fiscal 2024 was 8 of 9. The signal not met was asset turnover higher than a year earlier.Reconstructed · initial

By Fiscal Year

Ratio	FY202226 Mar 2022	FY202325 Mar 2023	FY202430 Mar 2024	FY202529 Mar 2025	FY202628 Mar 2026	Q2 FY2027latest quarter
Altman Z'' scoreA measure of the risk of financial distress, built from working capital, retained earnings, operating profit and equity. Above 2.60 the model counts a company as safe and below 1.10 as in distress; between the 2 is a grey zone.6.56 x working capital / total assets + 3.26 x retained earnings / total assets + 6.72 x EBIT / total assets + 1.05 x total equity / total liabilities (Altman, 1995); distress zone below 1.10, safe zone above 2.60	safe zone	safe zone	safe zone	safe zone	safe zone	safe zone
Beneish M-scoreA screen for earnings manipulation, built from 8 changes in the accounts, such as receivables growing faster than sales. Above minus 1.78 the model groups a company with the companies in the Beneish sample that manipulated their earnings.-4.84 + 0.920 DSRI + 0.528 GMI + 0.404 AQI + 0.892 SGI + 0.115 DEPI - 0.172 SGAI + 4.679 TATA - 0.327 LVGI (Beneish, 1999); model threshold -1.78	above threshold	below threshold	below threshold	below threshold	below threshold	n/a
Dechow F-scoreThe probability of a material misstatement in the accounts, estimated from accruals, receivables, stock, cash sales, profitability and new financing, against the average. A score of 1 means average risk and 2 means twice the average.Predicted probability of a misstatement (model 1 of Dechow, Ge, Larson and Sloan, 2011) / 0.0037, the unconditional probability; 1 equals the base rate	n/a					n/a
Piotroski F-scoreA count of 9 yes or no tests on profitability, cash flow, debt, liquidity, new shares, margins and the use of assets. A score of 7 to 9 indicates improving strength and 0 to 3 indicates weakness.Number of 9 binary signals met on profitability, cash flow, debt, liquidity, equity issuance, margin and asset turnover (Piotroski, 2000)	n/a					n/a

Altman Z'' Score

fiscal 2026

A measure of the risk of financial distress, built from working capital, retained earnings, operating profit and equity. Above 2.60 the model counts a company as safe and below 1.10 as in distress; between the 2 is a grey zone.

Distress zone, below 1.10

Grey zone, 1.10 to 2.60

10.93Safe zone, above 2.60

The score of 10.93 is in the safe zone of the model, above 2.60. The largest part is equity against liabilities, at 6.18.

Part	Value	Coefficient	Contribution
Working capital / total assetsCurrent assets less current liabilities, against total assets: the short-term funds available for operations.	0.498	6.560	3.265
Retained earnings / total assetsProfits kept in the business over its life, against total assets.	0.074	3.260	0.242
EBIT / total assetsOperating profit against total assets: the earning power of the assets.	0.185	6.720	1.243
Total equity / total liabilitiesBook equity against liabilities: how far the assets could fall in value before liabilities exceed them.	5.889	1.050	6.183
Score			10.933

Altman, Hartzell and Peck (1995), for non-manufacturing companies. The model omits the ratio of sales to total assets of the 1968 model and uses book equity. Working capital below zero and equity reduced by share repurchases lower the score.

Beneish M-score

fiscal 2026

A screen for earnings manipulation, built from 8 changes in the accounts, such as receivables growing faster than sales. Above minus 1.78 the model groups a company with the companies in the Beneish sample that manipulated their earnings.

−2.93Below the threshold, −1.78 and below

Above the threshold, above −1.78

The score of minus 2.93 is below the model threshold of minus 1.78.

Part	Value	Coefficient	Contribution
Intercept			−4.840
Days sales in receivables indexReceivables against sales, against a year earlier. A rise can mean sales recorded before customers pay.	0.967	0.920	0.890
Gross margin indexGross margin a year earlier against the current gross margin. Above 1, margins fell, which the model treats as a risk factor.	0.995	0.528	0.526
Asset quality indexAssets other than current assets and property, plant and equipment, as a share of total assets, against a year earlier. A rise can mean more costs recorded as assets.	0.919	0.404	0.371
Sales growth indexSales against a year earlier. The model treats fast growth as a risk factor.	1.053	0.892	0.940
Depreciation indexThe rate of depreciation a year earlier against the current rate. Above 1, depreciation slowed, which raises profit.	0.907	0.115	0.104
Selling, general and administrative expenses indexOverheads against sales, against a year earlier.	1.005	−0.172	−0.173
Total accruals to total assetsNet income less operating cash flow, against total assets: profit not backed by cash. It carries the largest coefficient in the model.	−0.095	4.679	−0.444
Leverage indexDebt against total assets, against a year earlier.	0.932	−0.327	−0.305
Score			−2.931

Beneish (1999), estimated on 74 companies identified as earnings manipulators in SEC enforcement releases and the press for 1982 to 1992, against 2,332 Compustat companies. The model classes a score above minus 1.78 with the first group. An index whose inputs are not reported counts as 1.

Dechow F-score

fiscal 2026

The probability of a material misstatement in the accounts, estimated from accruals, receivables, stock, cash sales, profitability and new financing, against the average. A score of 1 means average risk and 2 means twice the average.

A score of 0.32 means a probability of a misstatement 0.32 times the average rate in the Dechow sample: 0.12% against 0.37%.

Part	Value	Coefficient	Contribution
Intercept			−7.893
Total accruals (Richardson, Sloan, Soliman and Tuna)Total accruals: the growth of operating and financial assets net of liabilities, against average assets.	−0.034	0.790	−0.027
Change in receivables / average total assetsThe growth of receivables against average assets.	0.002	2.518	0.004
Change in inventories / average total assetsThe growth of stock against average assets.	−0.024	1.191	−0.029
Assets other than cash and property, plant and equipment / total assetsAssets other than cash and property, plant and equipment, as a share of total assets: assets whose value depends more on judgement.	0.620	1.979	1.228
Change in cash salesThe growth of sales collected in cash.	0.082	0.171	0.014
Change in return on assetsThe change in return on assets against a year earlier. A fall raises the score.	0.027	−0.932	−0.025
Debt or equity issued in the year, 1 or 01 when the company issued shares or debt in the year.	0.000	1.029	0.000
Predicted value			−6.728
Probability of a misstatement			0.12%

Model 1 of Dechow, Ge, Larson and Sloan (2011), estimated on misstatements named in SEC Accounting and Auditing Enforcement Releases. The score is the predicted probability of a misstatement over 0.37%, the unconditional probability in their sample, so 1.00 equals that base rate.

Piotroski F-score

fiscal 2026

A count of 9 yes or no tests on profitability, cash flow, debt, liquidity, new shares, margins and the use of assets. A score of 7 to 9 indicates improving strength and 0 to 3 indicates weakness.

9 of the 9 tests are met, in the high group of 7 to 9.

Signal	FY2026	FY2025
Return on assets above zero	Met	Met
Operating cash flow above zero	Met	Met
Return on assets higher than a year earlier	Met	Met
Operating cash flow above net income	Met	Met
Long-term debt to assets lower than a year earlier	Met	Met
Current ratio higher than a year earlier	Met	Met
No common equity issued	Met	Met
Margin higher than a year earlier	Met	Met
Asset turnover higher than a year earlier	Met	Not met

Piotroski (2000), 9 signals on profitability, funding and operating efficiency, designed for companies with high book-to-market ratios. Piotroski grouped scores of 8 and 9 as high and 0 and 1 as low; the findings group 7 to 9 and 0 to 3.

Source Documents

Documents of this snapshot, latest first.

Document	Date	Id
Form 10-Q, period ended 26 September 2026	4 Nov 2026	10-Q:0000772406-26-000054
Form 10-Q, period ended 27 June 2026	5 Aug 2026	10-Q:0000772406-26-000037
Form 10-K, period ended 28 March 2026	21 May 2026	10-K:0000772406-26-000018
Form 10-Q, period ended 27 December 2025	3 Feb 2026	10-Q:0000772406-26-000006
Form 10-Q, period ended 27 September 2025	4 Nov 2025	10-Q:0000772406-25-000041
Form 10-Q, period ended 28 June 2025	5 Aug 2025	10-Q:0000772406-25-000034
Form 10-K, period ended 29 March 2025	23 May 2025	10-K:0000772406-25-000014
Form 10-Q, period ended 28 December 2024	4 Feb 2025	10-Q:0000772406-25-000007
Form 10-Q, period ended 28 September 2024	4 Nov 2024	10-Q:0000772406-24-000065
Form 10-Q, period ended 29 June 2024	6 Aug 2024	10-Q:0000772406-24-000057
Form 10-K, period ended 30 March 2024	24 May 2024	10-K:0000772406-24-000031
Form 10-Q, period ended 30 December 2023	6 Feb 2024	10-Q:0000772406-24-000011
Form 10-Q, period ended 23 September 2023	2 Nov 2023	10-Q:0000772406-23-000055
Form 10-Q, period ended 24 June 2023	3 Aug 2023	10-Q:0000772406-23-000048
Form 10-K, period ended 25 March 2023	19 May 2023	10-K:0000772406-23-000019
Form 10-Q, period ended 24 December 2022	2 Feb 2023	10-Q:0000772406-23-000006
Form 10-Q, period ended 24 September 2022	1 Nov 2022	10-Q:0000772406-22-000037
Form 10-Q, period ended 25 June 2022	2 Aug 2022	10-Q:0000772406-22-000028
Form 10-K, period ended 26 March 2022	20 May 2022	10-K:0000772406-22-000014
Form 10-Q, period ended 25 December 2021	31 Jan 2022	10-Q:0000772406-22-000006
Form 10-Q, period ended 25 September 2021	1 Nov 2021	10-Q:0000772406-21-000044
Form 10-Q, period ended 26 June 2021	28 Jul 2021	10-Q:0000772406-21-000030
Form 8-K, period ended 20 July 2021	20 Jul 2021	8-K:0000772406-21-000024
Form 10-K, period ended 27 March 2021	21 May 2021	10-K:0000772406-21-000013
Form 10-Q, period ended 26 December 2020	1 Feb 2021	10-Q:0000772406-21-000005
Form 10-Q, period ended 26 September 2020	2 Nov 2020	10-Q:0000772406-20-000039
Form 10-Q, period ended 27 June 2020	3 Aug 2020	10-Q:0000772406-20-000029

Checks

280280 checks, all passed

Fiscal calendar68 passedFiscal years last 350 to 380 days, quarters 80 to 125 days, and each period starts on the day after the one before. Checked at error level.

Quarters and fiscal year120 passedThe 4 quarters of every item add up to its fiscal year, or a later filing restated the year. Checked at error level.

Filer identity1 passedThe documents are those of the company of this page. Checked at error level.

Balance sheet identity26 passedTotal assets equal total liabilities and equity at each balance sheet date. Checked at error level.

Lease liabilities6 passedLease payments due, less imputed interest, equal the lease liabilities. Checked at warning level.

Quarters and 9 months15 passedThe 3 reported quarters of a fiscal year add up to the reported 9-month figure. Checked at error level.

Gross profit32 passedRevenue less cost of revenue equals reported gross profit. Checked at warning level.

Earnings per share6 passedNet income divided by average shares agrees with reported basic earnings per share. Checked at warning level.

Primary statements6 passedEach key figure of the latest fiscal year is a line of the income statement, the balance sheet or the cash flow statement of the annual report. Checked at warning level.

Data Quality

How many values of this snapshot the checks prove, and how many Annalist derives, withholds and tracks as restated. Every company.

Values published	1,226
Confirmed by other figures	53.7%, 658 values
Confirmed by a second document	0.0%, 0 values
Derived from reported figures	20.3%, 249 values
Values withheld	0
Restated figures tracked	0
Changes compared on one basis	0
Company lines mapped	0 of 0 reviewed

Citation

Annalist, Cirrus Logic, Inc., snapshot cirrus-logic/FY2027Q2_afd76654 (as of FY2027 Q2); <item label>, <period>; source <document id> (<document url>)

Snapshot FY2027Q2_afd76654 · dataset SHA-256 afd76654b1dad7e1d4a3cebae6cadcb60fdcf967fc77f2202e3a3390179f41c5 · findings rules 0.5

Data: info.json · dataset.json · validation.json · documents.json