$Cirrus Logic (CRUS.US)$In the March 2022 analysis, the stoc...

Launched in 1989, it is mainly in the audio device business. 65% of the market is in China, and the current price is 92.64.

In the past 5 years, with the exception of 2019, revenue grew at an average rate of 4.4%. Operating profit shrank 5.7% in 2023 due to falling gross margin and excessive cost growth, while net profit shrank sharply by 45.9% due to depreciation of capital assets. There has been no interest burden for the past 5 years. The gross margin rose from 50.4% to 52.6% in the past 5 years and then fell back to 50.4%, and the return on net assets fell from 21.8% to 10.9% in 2023.

In the first three quarters of 2024, revenue contracted by 7.1%, operating profit shrank by 6%, and net profit shrank by 0.3%.

Currently, the price-earnings ratio is 30, and the price-earnings ratio is TTM 29.3. The price-earnings ratio is 15.4 in 2022. Considering that the current revenue growth trend seems to be disappearing, the current valuation is not very attractive.