FirmAtlas
Company handbook · ADI · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
ADI · CIK 6281 · LATEST FILING: 10-Q AUG '26 · FILED AUG 19, 2026
Analog Devices, Inc.
$395.44
−8.51 (−2.11%)
Close, Oct 16, 2026 · 52-week $223–446
Last fiscal year
Analog Devices, Inc. reported revenue of $11.0B for the year ended Nov 1, 2025 (FY25), up 16.9% from FY24. Net income was $2.3B, operating cash flow $4.8B and free cash flow $4.3B. Source: 10-K filed Nov 25, 2025.
Market cap
$193.6B
P/E
46.8
EV/EBITDA
59.5x
P/B
5.8
Div yield
1.08%
ROIC
6.2%
Revenue 1Y
16.9%/yr
EPS 1Y
39.0%/yr
Shares 1Y
−1%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOVincent Roche
HQWilmington, MA
AuditorErnst & Young
Employees24,500
Year endsOctober
Revenue by segment · FY25
Industrial45%
Automotive30%
Consumer13%
Communications13%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
20.3%
18.1%
31.8%
63.7%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$7.8B deployed
Capex
$1.3B
16.2%
Acquisitions
$46M
0.6%
Dividends
$3.7B
47.6%
Buybacks
$2.8B
35.6%
Operating cash flow over the period: $8.7B. Total debt changed by +$1.0B. R&D of $3.3B is already inside operating costs.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · FY25 = year ended Nov 1, 2025 · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
Per-share figures are split-adjusted (2-for-1 split after FY20).
TTM = the last four quarters, to Aug '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
9,427
11,020+16.9%
13,882
YoY
+16.9%
Gross profit
5,381
6,773+25.9%
9,134
Gross margin
57.1%
61.5%+4.4 pp
—
Operating income
2,033
2,932+44.3%
4,935
Operating margin
21.6%
26.6%+5.0 pp
—
EBITDA
2,396
3,339+39.4%
—
EBITDA margin
25.4%
30.3%+4.9 pp
—
Interest expense
322
318−1.4%
—
Interest coverage
7.43x
10.51x+3.08x
—
Net income
1,635
2,267+38.7%
4,135
YoY
+38.7%
Net margin
17.3%
20.6%+3.2 pp
—
EPS (diluted, $)
3.28
4.56+39.0%
8.44
YoY
+39.0%
Balance sheet
Total assets
48,228
47,993−0.5%
48,424
Cash & short-term investments
2,363
3,652+54.6%
—
Accounts receivable
1,336
1,436+7.5%
—
Inventory
1,448
1,656+14.4%
—
Net PP&E
3,416
3,316−2.9%
—
Other assets
39,666
37,932−4.4%
—
Total liabilities
13,052
14,177+8.6%
14,874
Accounts payable
487
544+11.6%
—
Total debt
7,582
8,592+13.3%
7,777
Other liabilities
4,982
5,041+1.2%
—
Shareholders’ equity
35,176
33,816−3.9%
33,551
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
3,853
4,812+24.9%
5,545
Net income
1,635
2,267+38.7%
—
Depreciation & amortization
363
407+12.1%
—
Stock-based compensation
263
322+22.4%
—
Working capital & other
1,592
1,816+14.1%
—
Cash from investing
(1,105)
(1,322)n/m
—
Capex
(730)
(534)n/m
—
PP&E sold
0
59n/m
—
Acquisitions
0
(46)n/m
—
Investments bought
(439)
(1,150)n/m
—
Investments sold / matured
69
373+438.1%
—
Other investing
(5)
(24)n/m
—
Cash from financing
(1,714)
(2,983)n/m
—
Debt raised
1,088
1,491+37.0%
—
Debt repaid
(500)
(400)n/m
—
Dividends
(1,795)
(1,924)n/m
—
Buybacks
(616)
(2,165)n/m
—
Other financing
109
16−85.6%
—
Net change in cash
1,033
508−50.8%
—
Free cash flow (OCF − capex)
3,122
4,279+37.0%
4,937
Where the cash went
Operating cash flow
3,853
4,812+24.9%
5,545
Reinvested in the business
730
579−20.7%
—
% of operating cash flow
19.0%
12.0%
Capex
730
534−27.0%
608
Acquisitions
0
46n/m
—
R&D (memo, already in costs)
1,488
1,766+18.7%
—
Free cash flow
3,122
4,279+37.0%
4,937
YoY
+37.0%
Returned to shareholders
2,411
4,089+69.6%
—
% of free cash flow
77.2%
95.6%
Dividends
1,795
1,924+7.2%
—
Buybacks
616
2,165+251.6%
—
Change in total debt
—
1,010
—
Cash left over
—
1,154
—
FCF conversion (FCF ÷ net income)
190.9%
188.7%−2.2 pp
—
Owner earnings
—
1,889
—
Owner earnings margin
—
17.1%
—
Buyback yield
0.6%
1.9%+1.3 pp
—
Returns & ratios
ROIC (all capital)
4.6%
6.2%+1.6 pp
—
ROIC (operating)
32.7%
42.4%+9.6 pp
—
Net debt / EBITDA
2.18x
1.48x−0.70x
—
Debt / equity
0.22x
0.25x+0.04x
—
Cash conversion cycle (days)
138
143+5 d
—
ROE
4.6%
6.7%+2.1 pp
—
ROA
3.4%
4.7%+1.3 pp
—
ROCE
4.5%
6.6%+2.1 pp
—
NOPAT
1,870
2,452+31.1%
—
Invested capital (operating)
5,712
5,864+2.7%
—
Invested capital (all)
40,395
38,755−4.1%
—
Reinvestment rate
—
6.2%
—
Debtor days
52
48−4 d
—
Inventory days
131
142+12 d
—
Days payable
44
47+3 d
—
Income
Nov '25
Jan '26
May '26
Aug '26
Revenue
3,076
3,160
3,623
4,022
vs year-ago quarter
Gross profit
1,942
2,045
2,440
2,708
Gross margin
63.1%
64.7%
67.3%
67.3%
Operating income
945
997
1,380
1,613
Net income
788
831
1,176
1,340
vs year-ago quarter
Net margin
25.6%
26.3%
32.5%
33.3%
EPS (diluted, $)
1.61
1.69
2.40
2.74
vs year-ago quarter
Balance sheet
Nov '25
Jan '26
May '26
Aug '26
Total assets
47,993
47,991
47,949
48,424
Cash & equivalents
3,652
2,906
2,437
2,166
Total debt
8,592
7,783
7,786
7,777
Shareholders’ equity
33,816
33,787
33,742
33,551
Cash flow
Nov '25
Jan '26
May '26
Aug '26
Operating cash flow
1,701
1,369
872
1,604
Capex
215
109
138
146
Free cash flow
1,486
1,259
734
1,458
vs year-ago quarter