CRUSCIRRUS LOGIC, INC.
Semiconductors & Related Devices
- Revenue
- $2.0B
- 5.3% YoY
- Operating margin
- 23.0%
- 6.5% YoY
- EBITDA
- $513M
- 11% YoY
- Market cap
- $5.6B
- Employees
- 1,668
- $1M revenue each
- Net debt / EBITDA
- —
- AI in 10-K
- 2.6
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 1 of 7
- TSR below peersYes4 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$8M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo157% of net incomeCash flow under 80% of net income
- Dilutive SBCNo4% of revenueOver 10% of revenue
- Payouts exceed cash flowNo43% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo17% of assetsOver 40% of assets
- Shareholder dissentNo86% lowest supportAny vote under 80% support
Buyer economics 0 of 4
- Low revenue per employeeNo$1M · 84th pctBottom quartile of its SIC industry
- Quiet on AINo2.6 per 10K words · 63rd pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedNo$5.6B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$14M netNet sales over $10M in 12 months
Financials
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $1.8B | $1.9B | $1.8B | $1.9B | $2.0B | 5.3% |
| Operating income | $366M | $249M | $343M | $410M | $460M | 12% |
| Net income | $326M | $177M | $275M | $332M | $414M | 25% |
| Operating cash flow | $125M | $340M | $422M | $444M | $651M | 46% |
| Capex | $26M | $35M | $38M | $23M | $14M | 39% |
| Stock-based comp | $66M | $82M | $89M | $84M | $82M | 2.8% |
| Buybacks | $168M | $191M | $186M | $261M | $280M | 7.3% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $14M · 24
- Net
- −$14M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2026 | $11M | $23M | 173 | 254 |
| FY2025 | $10M | $12M | 120 | 145 |
| FY2024 | $8M | $3M | 111 | 164 |
| FY2023 | $8M | $11M | 127 | 103 |
| FY2022 | $7M | $6M | 106 | 115 |