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Cirrus Logic Piotroski F-Score

: 7 (As of Today)
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Good Sign:

Piotroski F-Score is 7, indicating very healthy situation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Cirrus Logic has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Cirrus Logic's Piotroski F-Score or its related term are showing as below:

NAS:CRUS' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 5   Max: 9
Current: 7

1
9

During the past 13 years, the highest Piotroski F-Score of Cirrus Logic was 9. The lowest was 1. And the median was 5.


Cirrus Logic Piotroski F-Score Historical Data

The historical data trend for Cirrus Logic's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Cirrus Logic Annual Data
Trend Mar12 Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 8.00 6.00 7.00 6.00 6.00

Cirrus Logic Quarterly Data
Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.00 8.00 7.00 6.00 7.00

Competitive Comparison

For the Semiconductors subindustry, Cirrus Logic's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

   

Cirrus Logic Piotroski F-Score Distribution

For the Semiconductors industry and Technology sector, Cirrus Logic's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Cirrus Logic's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Jun21) TTM:Last Year (Jun20) TTM:
Net Income was 59.486 + 114.368 + 25.281 + 17.209 = $216 Mil.
Cash Flow from Operations was 41.636 + 134.304 + 172.503 + -26.796 = $322 Mil.
Revenue was 347.325 + 485.795 + 293.537 + 277.253 = $1,404 Mil.
Gross Profit was 180.21 + 251.5 + 148.119 + 139.946 = $720 Mil.
Average Total Assets from the begining of this year (Jun20)
to the end of this year (Jun21) was
(1644.039 + 1699.864 + 1825.629 + 1830.614 + 1814.006) / 5 = $1762.8304 Mil.
Total Assets at the begining of this year (Jun20) was $1,644 Mil.
Long-Term Debt & Capital Lease Obligation was $126 Mil.
Total Current Assets was $839 Mil.
Total Current Liabilities was $187 Mil.
Net Income was 76.21 + 68.512 + 10.158 + 18.209 = $173 Mil.

Revenue was 388.912 + 374.668 + 279.291 + 242.573 = $1,285 Mil.
Gross Profit was 207.933 + 197.505 + 146.235 + 127.472 = $679 Mil.
Average Total Assets from the begining of last year (Jun19)
to the end of last year (Jun20) was
(1470.116 + 1583.631 + 1647.54 + 1592.677 + 1644.039) / 5 = $1587.6006 Mil.
Total Assets at the begining of last year (Jun19) was $1,470 Mil.
Long-Term Debt & Capital Lease Obligation was $130 Mil.
Total Current Assets was $690 Mil.
Total Current Liabilities was $163 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Cirrus Logic's current Net Income (TTM) was 216. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Cirrus Logic's current Cash Flow from Operations (TTM) was 322. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Jun20)
=216.344/1644.039
=0.13159299

ROA (Last Year)=Net Income/Total Assets (Jun19)
=173.089/1470.116
=0.11773833

Cirrus Logic's return on assets of this year was 0.13159299. Cirrus Logic's return on assets of last year was 0.11773833. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Cirrus Logic's current Net Income (TTM) was 216. Cirrus Logic's current Cash Flow from Operations (TTM) was 322. ==> 322 > 216 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Jun21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun20 to Jun21
=126.442/1762.8304
=0.0717267

Gearing (Last Year: Jun20)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun19 to Jun20
=129.627/1587.6006
=0.08164963

Cirrus Logic's gearing of this year was 0.0717267. Cirrus Logic's gearing of last year was 0.08164963. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Jun21)=Total Current Assets/Total Current Liabilities
=839.344/186.501
=4.50047989

Current Ratio (Last Year: Jun20)=Total Current Assets/Total Current Liabilities
=689.967/163.044
=4.23178406

Cirrus Logic's current ratio of this year was 4.50047989. Cirrus Logic's current ratio of last year was 4.23178406. ==> This year's current ratio is higher. ==> Score 1.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Cirrus Logic's number of shares in issue this year was 59.513. Cirrus Logic's number of shares in issue last year was 60.28. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=719.775/1403.91
=0.51269312

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=679.145/1285.444
=0.52833496

Cirrus Logic's gross margin of this year was 0.51269312. Cirrus Logic's gross margin of last year was 0.52833496. ==> Last year's gross margin is higher ==> Score 0.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Jun20)
=1403.91/1644.039
=0.8539396

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun19)
=1285.444/1470.116
=0.8743827

Cirrus Logic's asset turnover of this year was 0.8539396. Cirrus Logic's asset turnover of last year was 0.8743827. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+1+1+1+1+0+0
=7

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Cirrus Logic has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Cirrus Logic  (NAS:CRUS) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Cirrus Logic Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of Cirrus Logic's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Cirrus Logic Business Description

Cirrus Logic logo
Industry
Technology » Semiconductors NAICS : 334413 SIC : 3674
Traded in Other Exchanges
Address
800 West 6th Street, Austin, TX, USA, 78701
Cirrus Logic Inc is a provider of integrated circuits for audio and voice signal processing applications. The firm's products are organized into two streams: portable audio products, and non-portable audio and other products. These products include analog and mixed-signal components targeting mobile devices, smart homes, and applications in the automotive, energy, and industrial markets. Roughly half of the firm's revenue is generated in China, with the rest coming from the United States, Europe, South Korea, Japan, Taiwan, and countries across the world.
Executives
Baumgartner Jeffrey W officer: VP of R&D 800 W. 6TH STREET AUSTIN TX 78701
Lego Catherine P director 3787 WOODSIDE ROAD WOODSIDE CA 94062
Carter John C director 800 WEST 6TH STREET AUSTIN TX 78701
Forsyth John officer: President 800 W. 6TH STREET AUSTIN TX 78701
Hanford Deirdre director 700 EAST MIDDLEFIELD ROAD MOUNTAIN VIEW CA 9403
Tupman David J. director 1028 CHURCH ST. SAN FRANCISCO CA 94114
Schuele Alan R director C/O SEVIN ROSEN FUNDS 13455 NOEL RD #1670 DALLAS TX 75240
Dehne Timothy R director C/O NATIONAL INSTRUMENTS 11500 MOPAC BLDG B AUSTIN TX 78759
Davern Alexander M director C/O NATIONAL INSTRUMENTS 11500 MOPAC BLDG C AUSTIN TX 78759
Anderson Scott Arnold officer: Senior VP of Supply Chain 1303 E ALGONQUIN RD SCHAUMBURG IL 60196
Rhode Jason P director, officer: CEO 2901 VIA FORTUNA AUSTIN TX 78746
Fluke Bradley J officer: VP & GM, MEMS Division 400 W CESAR CHAVEZ AUSTIN TX 78701
Case Thurman K officer: VP & CFO C/O CIRUS LOGIC INC 2901 VIA FORTUNA AUSTIN TX 78746
Benson Jodee officer: VP & Chief Culture Office 2901 VIA FORTUNA AUSTIN TX 78746
Thomas Scott officer: SVP General Counsel & Corp C/O CIRRUS LOGIC INC 800 WEST 6TH STREET AUSTIN TX 78701

Cirrus Logic Headlines

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