$Cirrus Logic (CRUS.US)$Excluded from the analysis in March ...

Listed in 1989, mainly engaged in the audio component business, with 65% of the market in china, current price is 92.64.

Revenue growth for the past 5 years increased for 4 years except in 2019, with an average growth rate of 4.4%. Operating profit in 2023 shrunk by 5.7% due to the rapid increase in expenses caused by the decline in gross margin, while net income significantly shrank by 45.9% due to the impairment of capital assets. There has been no interest burden in the past 5 years. The gross margin increased from 50.4% to 52.6% over the past 5 years before falling back to 50.4%. The return on net assets decreased from 21.8% in 2023 to 10.9%.

Revenue shrank by 7.1% in the first 3 quarters of 2024, operating profit shrank by 6%, and net income shrank by 0.3%.

Currently, the pe is 30, and the trailing pe is 29.3. The high point of 0.33 billion net income in 2022 corresponds to a pe of 15.4. Considering that the current revenue growth trend seems to be disappearing, the current valuation attractiveness is not significant.