Analog Devices, Inc. (ADI) 10-Year Financial Performance & Capital Metrics

ADI •

TechnologySemiconductorsAnalog, Mixed-Signal and RF Chips

AboutAnalog Devices, Inc. designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and high-end consumer markets; and power ICs include performance, integration, and software design simulation tools for accurate power supply designs. It also offers high-performance amplifiers to condition analog signals; and radio frequency and microwave ICs to support cellular infrastructure; and microelectromechanical systems technology solutions, including accelerometers used to sense acceleration, gyroscopes for sense rotation, inertial measurement units to sense multiple degrees of freedom, and broadband switches for radio and instrument systems, as well as isolators. In addition, the company offers digital signal processing and system products for high-speed numeric calculations. It serves clients in the industrial, automotive, consumer, instrumentation, aerospace, and communications markets through a direct sales force, third-party distributors, and independent sales representatives in the United States, the rest of North and South America, Europe, Japan, China, and rest of Asia, as well as through its Website. Analog Devices, Inc. was incorporated in 1965 and is headquartered in Wilmington, Massachusetts.Show more

Revenue $11.02B +16.9%
EBITDA $4.93B +19.2%
Net Income $2.27B +38.7%
EPS (Diluted) 4.56 +39.0%
Gross Margin 61.47% +7.7%
EBITDA Margin 44.75% +2.0%
Operating Margin 26.61% +23.4%
Net Margin 20.58% +18.6%
ROE 6.57% +42.2%
ROIC 5.44% +47.2%
Debt/Equity 0.26 +17.8%
Interest Coverage 9.23 +46.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 8/9
✓FCF machine: 38.8% free cash flow margin
✓22 consecutive years of dividend growth
✓Momentum leader: RS Rating 87 (top 13%)
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 14.5%

✗Weaknesses

✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y12.36%

5Y14.49%

3Y-2.84%

TTM25.91%

Profit (Net Income) CAGR

10Y12.52%

5Y13.18%

3Y-6.21%

TTM73.09%

EPS CAGR

10Y7.56%

5Y6.81%

3Y-4.59%

TTM74.2%

ROCE

10Y Avg8.11%

5Y Avg6.15%

3Y Avg6.39%

Latest6.52%

Peer Comparison

Analog, Mixed-Signal and RF Chips

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
QRVOQorvo, Inc.	7.68B	82.90	142.93	-1.34%	9.11%	9.21%	6.31%	0.46
ALABAstera Labs, Inc. Common Stock	20.23B	118.83	97.40	115.13%	25.7%	16.07%	1.39%
ADIAnalog Devices, Inc.	173.7B	355.79	78.02	16.89%	23.02%	8.01%	2.46%	0.26
AVGOBroadcom Inc.	1.52T	319.55	66.99	23.87%	36.2%	28.45%	1.78%	0.80
TXNTexas Instruments Incorporated	192.5B	212.11	38.92	13.05%	28.28%	30.73%	1.35%	0.86
NXPINXP Semiconductors N.V.	57.13B	227.01	28.55	-2.74%	16.47%	19.34%	4.24%	1.17
QCOMQUALCOMM Incorporated	152.89B	142.36	28.42	13.66%	11.96%	23.25%	8.38%	0.77
CRUSCirrus Logic, Inc.	7.38B	141.12	23.52	5.99%	20.47%	18.74%	5.63%	0.07

Profit & Loss

	Oct 2017	Oct 2017	Oct 2018	Nov 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Nov 2024	Nov 2025
Sales/Revenue+	3.42B	5.25B	6.22B	5.99B	5.6B	7.32B	12.01B	12.31B	9.43B	11.02B
Revenue Growth %	-0.4%	53.34%	18.65%	-3.75%	-6.48%	30.61%	64.16%	2.43%	-23.39%	16.89%
Cost of Goods Sold+	1.19B	1.72B	1.97B	1.98B	1.91B	2.46B	4.21B	4.43B	4.05B	4.25B
COGS % of Revenue	34.9%	32.77%	31.72%	33%	34.13%	33.64%	35.04%	35.99%	42.92%	38.53%
Gross Profit+	2.23B	3.53B	4.25B	4.01B	3.69B	4.86B	7.8B	7.88B	5.38B	6.77B
Gross Margin %	65.1%	67.23%	68.28%	67%	65.87%	66.36%	64.96%	64.01%	57.08%	61.47%
Gross Profit Growth %	-1.42%	58.36%	20.51%	-5.57%	-8.05%	31.58%	60.7%	0.94%	-31.68%	25.87%
Operating Expenses+	1.2B	2.36B	2.35B	2.3B	2.19B	3.16B	4.53B	4.05B	3.35B	3.84B
OpEx % of Revenue	35.05%	45.06%	37.77%	38.44%	39.13%	43.23%	37.67%	32.95%	35.52%	34.86%
Selling, General & Admin	461.44M	644.4M	696.6M	647.9M	660.92M	918.7M	1.27B	1.28B	1.08B	1.26B
SG&A % of Revenue	13.49%	12.28%	11.19%	10.81%	11.8%	12.55%	10.57%	10.39%	11.41%	11.39%
Research & Development	653.82M	968.13M	1.17B	1.13B	1.05B	1.3B	1.7B	1.66B	1.49B	1.77B
R&D % of Revenue	19.11%	18.45%	18.72%	18.87%	18.75%	17.71%	14.15%	13.49%	15.78%	16.03%
Other Operating Expenses	83.81M	751.67M	489.16M	524.9M	480.79M	949.07M	1.55B	1.12B	785.37M	819.64M
Operating Income+	1.03B	1.16B	1.9B	1.71B	1.5B	1.69B	3.28B	3.82B	2.03B	2.93B
Operating Margin %	30.05%	22.16%	30.52%	28.55%	26.74%	23.12%	27.29%	31.07%	21.56%	26.61%
Operating Income Growth %	23.74%	13.1%	63.37%	-9.95%	-12.41%	12.95%	93.75%	16.6%	-46.83%	44.26%
EBITDA+	1.24B	1.75B	2.7B	2.52B	2.31B	2.77B	5.58B	6.12B	4.14B	4.93B
EBITDA Margin %	36.18%	33.3%	43.35%	42.09%	41.21%	37.81%	46.41%	49.7%	43.89%	44.75%
EBITDA Growth %	17.55%	41.11%	54.49%	-6.55%	-8.43%	19.82%	101.54%	9.68%	-32.36%	19.2%
D&A (Non-Cash Add-back)	209.79M	584.06M	799.06M	811.25M	810.92M	1.07B	2.3B	2.29B	2.1B	2B
EBIT	1.05B	1.19B	1.91B	1.71B	1.5B	1.51B	3.3B	3.87B	2.1B	3.03B
Net Interest Income+	-67.54M	-220.51M	-244.21M	-218.85M	-189M	-183.6M	-193.5M	-223.35M	-243.41M	-212.45M
Interest Income	21.22M	30.33M	9.38M	10.23M	4.3M	1.22M	6.91M	41.29M	78.82M	105.27M
Interest Expense	88.76M	250.84M	253.59M	229.07M	193.31M	184.82M	200.41M	264.64M	322.23M	317.72M
Other Income/Expense	-71.19M	-228.01M	-244.28M	-224.88M	-186.63M	-363.49M	-179.95M	-215.11M	-255.46M	-220.38M
Pretax Income+	956.92M	934.75M	1.66B	1.49B	1.31B	1.33B	3.1B	3.61B	1.78B	2.71B
Pretax Margin %	27.97%	17.82%	26.59%	24.8%	23.41%	18.16%	25.79%	29.32%	18.85%	24.61%
Income Tax+	95.26M	129.37M	148.33M	122.72M	90.86M	-61.71M	350.19M	293.42M	142.07M	444.77M
Effective Tax Rate %	90.05%	86.16%	91.04%	91.74%	93.07%	104.64%	88.7%	91.87%	92.01%	83.6%
Net Income+	861.66M	805.38M	1.51B	1.36B	1.22B	1.39B	2.75B	3.31B	1.64B	2.27B
Net Margin %	25.18%	15.35%	24.21%	22.75%	21.79%	19%	22.88%	26.94%	17.35%	20.58%
Net Income Growth %	23.65%	-6.53%	87.11%	-9.55%	-10.44%	13.9%	97.68%	20.59%	-50.66%	38.65%
Net Income (Continuing)	861.66M	805.38M	1.51B	1.36B	1.22B	1.39B	2.75B	3.31B	1.64B	2.27B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	2.76	2.29	3.99	3.66	3.28	3.46	5.25	6.55	3.28	4.56
EPS Growth %	25.45%	-17.03%	74.24%	-8.27%	-10.38%	5.49%	51.73%	24.76%	-49.92%	39.02%
EPS (Basic)	2.79	2.32	4.04	3.69	3.31	3.50	5.29	6.60	3.30	4.59
Diluted Shares Outstanding	312.31M	350.48M	374.94M	372.87M	371.97M	401.29M	523.18M	505.96M	498.7M	496.71M
Basic Shares Outstanding	308.74M	346.37M	370.43M	369.13M	368.63M	397.46M	519.23M	502.23M	496.17M	494.38M
Dividend Payout Ratio	59.56%	74.76%	46.67%	57.04%	72.59%	79.78%	56.19%	50.66%	109.8%	84.88%

Balance Sheet

	Oct 2017	Oct 2017	Oct 2018	Nov 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Nov 2024	Nov 2025
Total Current Assets+	4.97B	2.35B	2.11B	1.99B	2.52B	5.38B	4.94B	4.38B	5.48B	7.11B
Cash & Short-Term Investments	4.06B	1.05B	816.59M	648.32M	1.06B	1.98B	1.47B	958.06M	2.36B	3.65B
Cash Only	921.13M	1.05B	816.59M	648.32M	1.06B	1.98B	1.47B	958.06M	1.99B	2.5B
Short-Term Investments	3.13B	0	0	0	0	0	0	0	371.82M	1.15B
Accounts Receivable	477.61M	688.95M	639.72M	635.14M	737.54M	1.46B	1.8B	1.47B	1.34B	1.44B
Days Sales Outstanding	50.95	47.93	37.51	38.7	48.05	72.77	54.7	43.59	51.74	47.57
Inventory	376.56M	550.82M	586.76M	609.89M	608.26M	1.2B	1.4B	1.64B	1.45B	1.66B
Days Inventory Outstanding	115.09	116.93	108.48	112.58	116.08	177.98	121.37	135.36	130.61	142.38
Other Current Assets	0	0	0	0	0	0	0	314.01M	337.47M	363.34M
Total Non-Current Assets+	3B	18.79B	18.34B	19.41B	18.95B	46.94B	45.36B	44.41B	42.74B	40.88B
Property, Plant & Equipment	636.12M	1.11B	1.15B	1.22B	1.12B	1.98B	2.4B	3.22B	3.42B	3.32B
Fixed Asset Turnover	5.38x	4.74x	5.39x	4.91x	5.00x	3.70x	5.00x	3.82x	2.76x	3.32x
Goodwill	1.68B	12.22B	12.25B	12.26B	12.28B	26.92B	26.91B	26.91B	26.91B	26.95B
Intangible Assets	549.37M	5.32B	4.78B	4.22B	3.65B	15.27B	13.27B	11.31B	9.59B	8.01B
Long-Term Investments	21.94M	24.84M	28.73M	77.32M	86.73M	127.86M	122.28M	0	0	0
Other Non-Current Assets	72.87M	88.61M	102.72M	53.72M	311.86M	383.94M	397.34M	742.94M	749.08M	742.86M
Total Assets+	7.97B	21.14B	20.45B	21.39B	21.47B	52.32B	50.3B	48.79B	48.23B	47.99B
Asset Turnover	0.43x	0.25x	0.30x	0.28x	0.26x	0.14x	0.24x	0.25x	0.20x	0.23x
Asset Growth %	12.86%	165.25%	-3.27%	4.61%	0.36%	143.71%	-3.86%	-3%	-1.16%	-0.49%
Total Current Liabilities+	782.93M	1.6B	1.05B	1.51B	1.36B	2.77B	2.44B	3.2B	2.99B	3.25B
Accounts Payable	171.44M	236.63M	260.92M	225.27M	227.27M	443.43M	582.16M	493.04M	487.46M	543.76M
Days Payables Outstanding	52.4	50.23	48.24	41.58	43.37	65.74	50.47	40.64	43.98	46.74
Short-Term Debt	0	300M	67M	299.67M	0	516.66M	0	1.05B	947.37M	446.64M
Deferred Revenue (Current)	351.54M	473.97M	487.42M	0	0	0	0	0	0	0
Other Current Liabilities	112M	271.32M	-232.49M	307.27M	418.26M	381.68M	465.54M	389.6M	256.95M	468.18M
Current Ratio	6.35x	1.47x	2.01x	1.32x	1.84x	1.94x	2.02x	1.37x	1.84x	2.19x
Quick Ratio	5.87x	1.13x	1.45x	0.91x	1.40x	1.51x	1.45x	0.86x	1.35x	1.68x
Cash Conversion Cycle	113.64	114.63	97.75	109.69	120.75	185.02	125.6	138.31	138.37	143.2
Total Non-Current Liabilities+	2.02B	9.38B	8.12B	8.17B	8.11B	11.56B	11.39B	10.03B	10.06B	10.93B
Long-Term Debt	1.73B	7.55B	6.27B	5.19B	5.15B	6.25B	6.55B	5.9B	6.63B	8.15B
Capital Lease Obligations	0	0	0	0	0	0	0	0	0	0
Deferred Tax Liabilities	109.93M	1.67B	990.41M	2.09B	1.92B	3.94B	3.62B	3.13B	2.62B	2.16B
Other Non-Current Liabilities	179.62M	157.66M	862.36M	894.36M	1.04B	1.37B	1.22B	998.08M	804.98M	622.81M
Total Liabilities	2.8B	10.98B	9.17B	9.68B	9.47B	14.33B	13.84B	13.23B	13.05B	14.18B
Total Debt+	1.73B	7.85B	6.33B	5.49B	5.19B	6.82B	6.6B	7.01B	7.65B	8.66B
Net Debt	811.04M	6.8B	5.52B	4.84B	4.13B	4.84B	5.13B	6.06B	5.66B	6.17B
Debt / Equity	0.34x	0.77x	0.56x	0.47x	0.43x	0.18x	0.18x	0.20x	0.22x	0.26x
Debt / EBITDA	1.40x	4.49x	2.35x	2.18x	2.25x	2.47x	1.18x	1.15x	1.85x	1.76x
Net Debt / EBITDA	0.66x	3.89x	2.04x	1.92x	1.79x	1.75x	0.92x	0.99x	1.37x	1.25x
Interest Coverage	11.58x	4.64x	7.49x	7.47x	7.75x	9.16x	16.36x	14.45x	6.31x	9.23x
Total Equity+	5.17B	10.16B	11.27B	11.71B	12B	37.99B	36.47B	35.57B	35.18B	33.82B
Equity Growth %	1.83%	96.71%	10.89%	3.91%	2.47%	216.66%	-4.02%	-2.47%	-1.09%	-3.87%
Book Value per Share	16.54	28.99	30.05	31.40	32.25	94.68	69.70	70.29	70.54	68.08
Total Shareholders' Equity	5.17B	10.16B	11.27B	11.71B	12B	37.99B	36.47B	35.57B	35.18B	33.82B
Common Stock	51.36M	61.44M	61.69M	61.38M	61.58M	87.55M	84.88M	82.71M	82.72M	81.61M
Retained Earnings	4.79B	4.91B	5.98B	6.9B	7.24B	7.52B	8.72B	10.36B	10.2B	10.54B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-73.81M	-61.36M	-58.44M	-187.8M	-249.46M	-186.56M	-198.15M	-188.3M	-185.26M	-154.58M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Oct 2017	Oct 2017	Oct 2018	Nov 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Nov 2024	Nov 2025
Cash from Operations+	1.28B	1.11B	2.44B	2.25B	2.01B	2.74B	4.48B	4.82B	3.85B	4.81B
Operating CF Margin %	37.44%	21.21%	39.24%	37.61%	35.85%	37.37%	37.25%	39.15%	40.87%	43.67%
Operating CF Growth %	41.1%	-13.14%	119.52%	-7.75%	-10.86%	36.18%	63.63%	7.65%	-20.03%	24.91%
Net Income	861.66M	727.26M	1.5B	1.36B	1.22B	1.39B	2.75B	3.31B	1.64B	2.27B
Depreciation & Amortization	209.79M	584.06M	799.06M	811.25M	810.92M	1.07B	2.3B	2.29B	2.1B	2B
Stock-Based Compensation	63.42M	104.19M	151.16M	150.3M	149.52M	243.61M	323.49M	299.82M	262.71M	321.56M
Deferred Taxes	8.12M	-825.87M	-736.76M	-91.25M	-113.95M	-406.92M	-326.75M	-452.95M	-367.56M	-246.65M
Other Non-Cash Items	17.41M	306.08M	36.57M	55.07M	-212.19M	541.38M	316.27M	8.66M	23.05M	-9.91M
Working Capital Changes	120.49M	216.88M	696.89M	-35.28M	153.42M	-108.06M	-883.66M	-645.59M	194.74M	481.01M
Change in Receivables	-9.39M	-65.67M	45.98M	5.89M	-101.63M	-114.5M	-343.91M	330.73M	133.4M	-90.96M
Change in Inventory	38.22M	-47.35M	-34.64M	-42.77M	1.76M	-65.11M	-470.73M	-242.3M	191.17M	-208.64M
Change in Payables	85.5M	192.25M	-5.07M	-6.37M	103.1M	208.44M	171.77M	-499.32M	-133.76M	657.3M
Cash from Investing+	-1.22B	-6.62B	-314M	-293.19M	-180.52M	2.14B	-657.37M	-1.27B	-1.1B	-1.32B
Capital Expenditures	-127.4M	-204.1M	-254.88M	-275.37M	-165.69M	-343.68M	-699.31M	-1.26B	-730.46M	-533.55M
CapEx % of Revenue	3.72%	3.89%	4.09%	4.6%	2.96%	4.7%	5.82%	10.25%	7.75%	4.84%
Acquisitions	-83.17M	-9.63B	-52.84M	-11.17M	0	2.45B	0	0	0	-45.65M
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-18.52M	-15.84M	-6.28M	-6.64M	-14.83M	6.53M	41.94M	-4.92M	-4.77M	35.15M
Cash from Financing+	-22.92M	5.63B	-2.36B	-2.13B	-1.42B	-3.96B	-4.29B	-4.06B	-1.71B	-2.98B
Debt Issued (Net)	830.59M	6.11B	-1.53B	-850M	-354.35M	347.66M	-222.99M	481.54M	588.4M	989.69M
Equity Issued (Net)	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K
Dividends Paid	-513.18M	-602.12M	-703.31M	-777.48M	-886.15M	-1.11B	-1.54B	-1.68B	-1.8B	-1.92B
Share Repurchases	-370.06M	-46.53M	-225.98M	-613M	-244.49M	-3.11B	-2.58B	-2.96B	-615.59M	-2.16B
Other Financing	29.73M	171.07M	3.44M	113.69M	64.39M	407.17M	53.83M	97.77M	108.25M	7.83M
Net Change in Cash	36.78M	126.71M	-231.25M	-168.27M	407.54M	922.1M	-507.39M	-512.51M	1.03B	508.06M
Free Cash Flow+	1.15B	908.49M	2.19B	1.98B	1.84B	2.39B	3.78B	3.56B	3.12B	4.28B
FCF Margin %	33.71%	17.32%	35.14%	33.01%	32.89%	32.68%	31.43%	28.9%	33.12%	38.83%
FCF Growth %	53.02%	-21.24%	140.78%	-9.59%	-6.82%	29.77%	57.9%	-5.82%	-12.21%	37.05%
FCF per Share	3.69	2.59	5.83	5.30	4.95	5.96	7.22	7.03	6.26	8.61
FCF Conversion (FCF/Net Income)	1.49x	1.38x	1.62x	1.65x	1.65x	1.97x	1.63x	1.45x	2.36x	2.12x
Interest Paid	41.7M	183.12M	233.44M	0	0	0	0	0	268.19M	0
Taxes Paid	77.92M	868.49M	211.47M	0	0	0	0	0	414.84M	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	16.83%	10.51%	14.06%	11.86%	10.3%	5.56%	7.38%	9.2%	4.62%	6.57%
Return on Invested Capital (ROIC)	13.98%	7.6%	8.44%	7.7%	6.88%	4.3%	5.82%	6.89%	3.7%	5.44%
Gross Margin	65.1%	67.23%	68.28%	67%	65.87%	66.36%	64.96%	64.01%	57.08%	61.47%
Net Margin	25.18%	15.35%	24.21%	22.75%	21.79%	19%	22.88%	26.94%	17.35%	20.58%
Debt / Equity	0.34x	0.77x	0.56x	0.47x	0.43x	0.18x	0.18x	0.20x	0.22x	0.26x
Interest Coverage	11.58x	4.64x	7.49x	7.47x	7.75x	9.16x	16.36x	14.45x	6.31x	9.23x
FCF Conversion	1.49x	1.38x	1.62x	1.65x	1.65x	1.97x	1.63x	1.45x	2.36x	2.12x
Revenue Growth	-0.4%	53.34%	18.65%	-3.75%	-6.48%	30.61%	64.16%	2.43%	-23.39%	16.89%

US Stock Screener

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Analog Devices, Inc. (ADI) 10-Year Financial Performance & Capital Metrics

ADI •

TechnologySemiconductorsAnalog, Mixed-Signal and RF Chips

Revenue $11.02B +16.9%
EBITDA $4.93B +19.2%
Net Income $2.27B +38.7%
EPS (Diluted) 4.56 +39.0%
Gross Margin 61.47% +7.7%
EBITDA Margin 44.75% +2.0%
Operating Margin 26.61% +23.4%
Net Margin 20.58% +18.6%
ROE 6.57% +42.2%
ROIC 5.44% +47.2%
Debt/Equity 0.26 +17.8%
Interest Coverage 9.23 +46.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 8/9
✓FCF machine: 38.8% free cash flow margin
✓22 consecutive years of dividend growth
✓Momentum leader: RS Rating 87 (top 13%)
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 14.5%

✗Weaknesses

✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y12.36%

5Y14.49%

3Y-2.84%

TTM25.91%

Profit (Net Income) CAGR

10Y12.52%

5Y13.18%

3Y-6.21%

TTM73.09%

EPS CAGR

10Y7.56%

5Y6.81%

3Y-4.59%

TTM74.2%

ROCE

10Y Avg8.11%

5Y Avg6.15%

3Y Avg6.39%

Latest6.52%

Peer Comparison

Analog, Mixed-Signal and RF Chips

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
QRVOQorvo, Inc.	7.68B	82.90	142.93	-1.34%	9.11%	9.21%	6.31%	0.46
ALABAstera Labs, Inc. Common Stock	20.23B	118.83	97.40	115.13%	25.7%	16.07%	1.39%
ADIAnalog Devices, Inc.	173.7B	355.79	78.02	16.89%	23.02%	8.01%	2.46%	0.26
AVGOBroadcom Inc.	1.52T	319.55	66.99	23.87%	36.2%	28.45%	1.78%	0.80
TXNTexas Instruments Incorporated	192.5B	212.11	38.92	13.05%	28.28%	30.73%	1.35%	0.86
NXPINXP Semiconductors N.V.	57.13B	227.01	28.55	-2.74%	16.47%	19.34%	4.24%	1.17
QCOMQUALCOMM Incorporated	152.89B	142.36	28.42	13.66%	11.96%	23.25%	8.38%	0.77
CRUSCirrus Logic, Inc.	7.38B	141.12	23.52	5.99%	20.47%	18.74%	5.63%	0.07

Profit & Loss

	Oct 2017	Oct 2017	Oct 2018	Nov 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Nov 2024	Nov 2025
Sales/Revenue+	3.42B	5.25B	6.22B	5.99B	5.6B	7.32B	12.01B	12.31B	9.43B	11.02B
Revenue Growth %	-0.4%	53.34%	18.65%	-3.75%	-6.48%	30.61%	64.16%	2.43%	-23.39%	16.89%
Cost of Goods Sold+	1.19B	1.72B	1.97B	1.98B	1.91B	2.46B	4.21B	4.43B	4.05B	4.25B
COGS % of Revenue	34.9%	32.77%	31.72%	33%	34.13%	33.64%	35.04%	35.99%	42.92%	38.53%
Gross Profit+	2.23B	3.53B	4.25B	4.01B	3.69B	4.86B	7.8B	7.88B	5.38B	6.77B
Gross Margin %	65.1%	67.23%	68.28%	67%	65.87%	66.36%	64.96%	64.01%	57.08%	61.47%
Gross Profit Growth %	-1.42%	58.36%	20.51%	-5.57%	-8.05%	31.58%	60.7%	0.94%	-31.68%	25.87%
Operating Expenses+	1.2B	2.36B	2.35B	2.3B	2.19B	3.16B	4.53B	4.05B	3.35B	3.84B
OpEx % of Revenue	35.05%	45.06%	37.77%	38.44%	39.13%	43.23%	37.67%	32.95%	35.52%	34.86%
Selling, General & Admin	461.44M	644.4M	696.6M	647.9M	660.92M	918.7M	1.27B	1.28B	1.08B	1.26B
SG&A % of Revenue	13.49%	12.28%	11.19%	10.81%	11.8%	12.55%	10.57%	10.39%	11.41%	11.39%
Research & Development	653.82M	968.13M	1.17B	1.13B	1.05B	1.3B	1.7B	1.66B	1.49B	1.77B
R&D % of Revenue	19.11%	18.45%	18.72%	18.87%	18.75%	17.71%	14.15%	13.49%	15.78%	16.03%
Other Operating Expenses	83.81M	751.67M	489.16M	524.9M	480.79M	949.07M	1.55B	1.12B	785.37M	819.64M
Operating Income+	1.03B	1.16B	1.9B	1.71B	1.5B	1.69B	3.28B	3.82B	2.03B	2.93B
Operating Margin %	30.05%	22.16%	30.52%	28.55%	26.74%	23.12%	27.29%	31.07%	21.56%	26.61%
Operating Income Growth %	23.74%	13.1%	63.37%	-9.95%	-12.41%	12.95%	93.75%	16.6%	-46.83%	44.26%
EBITDA+	1.24B	1.75B	2.7B	2.52B	2.31B	2.77B	5.58B	6.12B	4.14B	4.93B
EBITDA Margin %	36.18%	33.3%	43.35%	42.09%	41.21%	37.81%	46.41%	49.7%	43.89%	44.75%
EBITDA Growth %	17.55%	41.11%	54.49%	-6.55%	-8.43%	19.82%	101.54%	9.68%	-32.36%	19.2%
D&A (Non-Cash Add-back)	209.79M	584.06M	799.06M	811.25M	810.92M	1.07B	2.3B	2.29B	2.1B	2B
EBIT	1.05B	1.19B	1.91B	1.71B	1.5B	1.51B	3.3B	3.87B	2.1B	3.03B
Net Interest Income+	-67.54M	-220.51M	-244.21M	-218.85M	-189M	-183.6M	-193.5M	-223.35M	-243.41M	-212.45M
Interest Income	21.22M	30.33M	9.38M	10.23M	4.3M	1.22M	6.91M	41.29M	78.82M	105.27M
Interest Expense	88.76M	250.84M	253.59M	229.07M	193.31M	184.82M	200.41M	264.64M	322.23M	317.72M
Other Income/Expense	-71.19M	-228.01M	-244.28M	-224.88M	-186.63M	-363.49M	-179.95M	-215.11M	-255.46M	-220.38M
Pretax Income+	956.92M	934.75M	1.66B	1.49B	1.31B	1.33B	3.1B	3.61B	1.78B	2.71B
Pretax Margin %	27.97%	17.82%	26.59%	24.8%	23.41%	18.16%	25.79%	29.32%	18.85%	24.61%
Income Tax+	95.26M	129.37M	148.33M	122.72M	90.86M	-61.71M	350.19M	293.42M	142.07M	444.77M
Effective Tax Rate %	90.05%	86.16%	91.04%	91.74%	93.07%	104.64%	88.7%	91.87%	92.01%	83.6%
Net Income+	861.66M	805.38M	1.51B	1.36B	1.22B	1.39B	2.75B	3.31B	1.64B	2.27B
Net Margin %	25.18%	15.35%	24.21%	22.75%	21.79%	19%	22.88%	26.94%	17.35%	20.58%
Net Income Growth %	23.65%	-6.53%	87.11%	-9.55%	-10.44%	13.9%	97.68%	20.59%	-50.66%	38.65%
Net Income (Continuing)	861.66M	805.38M	1.51B	1.36B	1.22B	1.39B	2.75B	3.31B	1.64B	2.27B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	2.76	2.29	3.99	3.66	3.28	3.46	5.25	6.55	3.28	4.56
EPS Growth %	25.45%	-17.03%	74.24%	-8.27%	-10.38%	5.49%	51.73%	24.76%	-49.92%	39.02%
EPS (Basic)	2.79	2.32	4.04	3.69	3.31	3.50	5.29	6.60	3.30	4.59
Diluted Shares Outstanding	312.31M	350.48M	374.94M	372.87M	371.97M	401.29M	523.18M	505.96M	498.7M	496.71M
Basic Shares Outstanding	308.74M	346.37M	370.43M	369.13M	368.63M	397.46M	519.23M	502.23M	496.17M	494.38M
Dividend Payout Ratio	59.56%	74.76%	46.67%	57.04%	72.59%	79.78%	56.19%	50.66%	109.8%	84.88%

Balance Sheet

	Oct 2017	Oct 2017	Oct 2018	Nov 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Nov 2024	Nov 2025
Total Current Assets+	4.97B	2.35B	2.11B	1.99B	2.52B	5.38B	4.94B	4.38B	5.48B	7.11B
Cash & Short-Term Investments	4.06B	1.05B	816.59M	648.32M	1.06B	1.98B	1.47B	958.06M	2.36B	3.65B
Cash Only	921.13M	1.05B	816.59M	648.32M	1.06B	1.98B	1.47B	958.06M	1.99B	2.5B
Short-Term Investments	3.13B	0	0	0	0	0	0	0	371.82M	1.15B
Accounts Receivable	477.61M	688.95M	639.72M	635.14M	737.54M	1.46B	1.8B	1.47B	1.34B	1.44B
Days Sales Outstanding	50.95	47.93	37.51	38.7	48.05	72.77	54.7	43.59	51.74	47.57
Inventory	376.56M	550.82M	586.76M	609.89M	608.26M	1.2B	1.4B	1.64B	1.45B	1.66B
Days Inventory Outstanding	115.09	116.93	108.48	112.58	116.08	177.98	121.37	135.36	130.61	142.38
Other Current Assets	0	0	0	0	0	0	0	314.01M	337.47M	363.34M
Total Non-Current Assets+	3B	18.79B	18.34B	19.41B	18.95B	46.94B	45.36B	44.41B	42.74B	40.88B
Property, Plant & Equipment	636.12M	1.11B	1.15B	1.22B	1.12B	1.98B	2.4B	3.22B	3.42B	3.32B
Fixed Asset Turnover	5.38x	4.74x	5.39x	4.91x	5.00x	3.70x	5.00x	3.82x	2.76x	3.32x
Goodwill	1.68B	12.22B	12.25B	12.26B	12.28B	26.92B	26.91B	26.91B	26.91B	26.95B
Intangible Assets	549.37M	5.32B	4.78B	4.22B	3.65B	15.27B	13.27B	11.31B	9.59B	8.01B
Long-Term Investments	21.94M	24.84M	28.73M	77.32M	86.73M	127.86M	122.28M	0	0	0
Other Non-Current Assets	72.87M	88.61M	102.72M	53.72M	311.86M	383.94M	397.34M	742.94M	749.08M	742.86M
Total Assets+	7.97B	21.14B	20.45B	21.39B	21.47B	52.32B	50.3B	48.79B	48.23B	47.99B
Asset Turnover	0.43x	0.25x	0.30x	0.28x	0.26x	0.14x	0.24x	0.25x	0.20x	0.23x
Asset Growth %	12.86%	165.25%	-3.27%	4.61%	0.36%	143.71%	-3.86%	-3%	-1.16%	-0.49%
Total Current Liabilities+	782.93M	1.6B	1.05B	1.51B	1.36B	2.77B	2.44B	3.2B	2.99B	3.25B
Accounts Payable	171.44M	236.63M	260.92M	225.27M	227.27M	443.43M	582.16M	493.04M	487.46M	543.76M
Days Payables Outstanding	52.4	50.23	48.24	41.58	43.37	65.74	50.47	40.64	43.98	46.74
Short-Term Debt	0	300M	67M	299.67M	0	516.66M	0	1.05B	947.37M	446.64M
Deferred Revenue (Current)	351.54M	473.97M	487.42M	0	0	0	0	0	0	0
Other Current Liabilities	112M	271.32M	-232.49M	307.27M	418.26M	381.68M	465.54M	389.6M	256.95M	468.18M
Current Ratio	6.35x	1.47x	2.01x	1.32x	1.84x	1.94x	2.02x	1.37x	1.84x	2.19x
Quick Ratio	5.87x	1.13x	1.45x	0.91x	1.40x	1.51x	1.45x	0.86x	1.35x	1.68x
Cash Conversion Cycle	113.64	114.63	97.75	109.69	120.75	185.02	125.6	138.31	138.37	143.2
Total Non-Current Liabilities+	2.02B	9.38B	8.12B	8.17B	8.11B	11.56B	11.39B	10.03B	10.06B	10.93B
Long-Term Debt	1.73B	7.55B	6.27B	5.19B	5.15B	6.25B	6.55B	5.9B	6.63B	8.15B
Capital Lease Obligations	0	0	0	0	0	0	0	0	0	0
Deferred Tax Liabilities	109.93M	1.67B	990.41M	2.09B	1.92B	3.94B	3.62B	3.13B	2.62B	2.16B
Other Non-Current Liabilities	179.62M	157.66M	862.36M	894.36M	1.04B	1.37B	1.22B	998.08M	804.98M	622.81M
Total Liabilities	2.8B	10.98B	9.17B	9.68B	9.47B	14.33B	13.84B	13.23B	13.05B	14.18B
Total Debt+	1.73B	7.85B	6.33B	5.49B	5.19B	6.82B	6.6B	7.01B	7.65B	8.66B
Net Debt	811.04M	6.8B	5.52B	4.84B	4.13B	4.84B	5.13B	6.06B	5.66B	6.17B
Debt / Equity	0.34x	0.77x	0.56x	0.47x	0.43x	0.18x	0.18x	0.20x	0.22x	0.26x
Debt / EBITDA	1.40x	4.49x	2.35x	2.18x	2.25x	2.47x	1.18x	1.15x	1.85x	1.76x
Net Debt / EBITDA	0.66x	3.89x	2.04x	1.92x	1.79x	1.75x	0.92x	0.99x	1.37x	1.25x
Interest Coverage	11.58x	4.64x	7.49x	7.47x	7.75x	9.16x	16.36x	14.45x	6.31x	9.23x
Total Equity+	5.17B	10.16B	11.27B	11.71B	12B	37.99B	36.47B	35.57B	35.18B	33.82B
Equity Growth %	1.83%	96.71%	10.89%	3.91%	2.47%	216.66%	-4.02%	-2.47%	-1.09%	-3.87%
Book Value per Share	16.54	28.99	30.05	31.40	32.25	94.68	69.70	70.29	70.54	68.08
Total Shareholders' Equity	5.17B	10.16B	11.27B	11.71B	12B	37.99B	36.47B	35.57B	35.18B	33.82B
Common Stock	51.36M	61.44M	61.69M	61.38M	61.58M	87.55M	84.88M	82.71M	82.72M	81.61M
Retained Earnings	4.79B	4.91B	5.98B	6.9B	7.24B	7.52B	8.72B	10.36B	10.2B	10.54B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-73.81M	-61.36M	-58.44M	-187.8M	-249.46M	-186.56M	-198.15M	-188.3M	-185.26M	-154.58M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Oct 2017	Oct 2017	Oct 2018	Nov 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Nov 2024	Nov 2025
Cash from Operations+	1.28B	1.11B	2.44B	2.25B	2.01B	2.74B	4.48B	4.82B	3.85B	4.81B
Operating CF Margin %	37.44%	21.21%	39.24%	37.61%	35.85%	37.37%	37.25%	39.15%	40.87%	43.67%
Operating CF Growth %	41.1%	-13.14%	119.52%	-7.75%	-10.86%	36.18%	63.63%	7.65%	-20.03%	24.91%
Net Income	861.66M	727.26M	1.5B	1.36B	1.22B	1.39B	2.75B	3.31B	1.64B	2.27B
Depreciation & Amortization	209.79M	584.06M	799.06M	811.25M	810.92M	1.07B	2.3B	2.29B	2.1B	2B
Stock-Based Compensation	63.42M	104.19M	151.16M	150.3M	149.52M	243.61M	323.49M	299.82M	262.71M	321.56M
Deferred Taxes	8.12M	-825.87M	-736.76M	-91.25M	-113.95M	-406.92M	-326.75M	-452.95M	-367.56M	-246.65M
Other Non-Cash Items	17.41M	306.08M	36.57M	55.07M	-212.19M	541.38M	316.27M	8.66M	23.05M	-9.91M
Working Capital Changes	120.49M	216.88M	696.89M	-35.28M	153.42M	-108.06M	-883.66M	-645.59M	194.74M	481.01M
Change in Receivables	-9.39M	-65.67M	45.98M	5.89M	-101.63M	-114.5M	-343.91M	330.73M	133.4M	-90.96M
Change in Inventory	38.22M	-47.35M	-34.64M	-42.77M	1.76M	-65.11M	-470.73M	-242.3M	191.17M	-208.64M
Change in Payables	85.5M	192.25M	-5.07M	-6.37M	103.1M	208.44M	171.77M	-499.32M	-133.76M	657.3M
Cash from Investing+	-1.22B	-6.62B	-314M	-293.19M	-180.52M	2.14B	-657.37M	-1.27B	-1.1B	-1.32B
Capital Expenditures	-127.4M	-204.1M	-254.88M	-275.37M	-165.69M	-343.68M	-699.31M	-1.26B	-730.46M	-533.55M
CapEx % of Revenue	3.72%	3.89%	4.09%	4.6%	2.96%	4.7%	5.82%	10.25%	7.75%	4.84%
Acquisitions	-83.17M	-9.63B	-52.84M	-11.17M	0	2.45B	0	0	0	-45.65M
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-18.52M	-15.84M	-6.28M	-6.64M	-14.83M	6.53M	41.94M	-4.92M	-4.77M	35.15M
Cash from Financing+	-22.92M	5.63B	-2.36B	-2.13B	-1.42B	-3.96B	-4.29B	-4.06B	-1.71B	-2.98B
Debt Issued (Net)	830.59M	6.11B	-1.53B	-850M	-354.35M	347.66M	-222.99M	481.54M	588.4M	989.69M
Equity Issued (Net)	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K
Dividends Paid	-513.18M	-602.12M	-703.31M	-777.48M	-886.15M	-1.11B	-1.54B	-1.68B	-1.8B	-1.92B
Share Repurchases	-370.06M	-46.53M	-225.98M	-613M	-244.49M	-3.11B	-2.58B	-2.96B	-615.59M	-2.16B
Other Financing	29.73M	171.07M	3.44M	113.69M	64.39M	407.17M	53.83M	97.77M	108.25M	7.83M
Net Change in Cash	36.78M	126.71M	-231.25M	-168.27M	407.54M	922.1M	-507.39M	-512.51M	1.03B	508.06M
Free Cash Flow+	1.15B	908.49M	2.19B	1.98B	1.84B	2.39B	3.78B	3.56B	3.12B	4.28B
FCF Margin %	33.71%	17.32%	35.14%	33.01%	32.89%	32.68%	31.43%	28.9%	33.12%	38.83%
FCF Growth %	53.02%	-21.24%	140.78%	-9.59%	-6.82%	29.77%	57.9%	-5.82%	-12.21%	37.05%
FCF per Share	3.69	2.59	5.83	5.30	4.95	5.96	7.22	7.03	6.26	8.61
FCF Conversion (FCF/Net Income)	1.49x	1.38x	1.62x	1.65x	1.65x	1.97x	1.63x	1.45x	2.36x	2.12x
Interest Paid	41.7M	183.12M	233.44M	0	0	0	0	0	268.19M	0
Taxes Paid	77.92M	868.49M	211.47M	0	0	0	0	0	414.84M	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	16.83%	10.51%	14.06%	11.86%	10.3%	5.56%	7.38%	9.2%	4.62%	6.57%
Return on Invested Capital (ROIC)	13.98%	7.6%	8.44%	7.7%	6.88%	4.3%	5.82%	6.89%	3.7%	5.44%
Gross Margin	65.1%	67.23%	68.28%	67%	65.87%	66.36%	64.96%	64.01%	57.08%	61.47%
Net Margin	25.18%	15.35%	24.21%	22.75%	21.79%	19%	22.88%	26.94%	17.35%	20.58%
Debt / Equity	0.34x	0.77x	0.56x	0.47x	0.43x	0.18x	0.18x	0.20x	0.22x	0.26x
Interest Coverage	11.58x	4.64x	7.49x	7.47x	7.75x	9.16x	16.36x	14.45x	6.31x	9.23x
FCF Conversion	1.49x	1.38x	1.62x	1.65x	1.65x	1.97x	1.63x	1.45x	2.36x	2.12x
Revenue Growth	-0.4%	53.34%	18.65%	-3.75%	-6.48%	30.61%	64.16%	2.43%	-23.39%	16.89%

Analog Devices, Inc. (ADI) 10-Year Financial Performance & Capital Metrics

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Analog Devices, Inc. (ADI) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare ADI vs Peers

vs AVGO

vs TXN

Compare Top 5

Profit & Loss

Balance Sheet

Cash Flow

Key Ratios

Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

Earnings History

Price History

Revenue History

Financial Ratios