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

ADI • • Industrial / General
TechnologySemiconductorsAnalog & Mixed-Signal SemiconductorsSensors & Signal Processing
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 $5B +20.9%
  • Net Income $2.27B +38.7%
  • EPS (Diluted) 4.56 +39.0%
  • Gross Margin 54.66% -4.2%
  • EBITDA Margin 45.39% +3.4%
  • Operating Margin 27.25% +26.4%
  • Net Margin 20.58% +18.6%
  • ROE 6.57% +42.2%
  • ROIC 5.57% +50.7%
  • Debt/Equity 0.26 +17.8%
  • Interest Coverage 9.45 +49.8%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Strong Piotroski F-Score: 7/9
  • ✓FCF machine: 38.8% free cash flow margin
  • ✓22 consecutive years of dividend growth
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 14.5%
  • ✓Healthy 5Y average net margin of 21.3%

✗Weaknesses

  • ✗Low asset turnover indicates capital-intensive operations

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y12.36%
5Y14.49%
3Y-2.84%
TTM16.89%

Profit (Net Income) CAGR

10Y12.52%
5Y13.18%
3Y-6.21%
TTM38.65%

EPS CAGR

10Y7.56%
5Y6.81%
3Y-4.59%
TTM38.6%

ROCE

10Y Avg8.12%
5Y Avg6.18%
3Y Avg6.44%
Latest6.67%

Peer Comparison

Sensors & Signal Processing
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
ADIAnalog Devices, Inc.147.92B302.1066.2516.89%20.58%6.71%2.89%0.26
CRUSCirrus Logic, Inc.6.29B123.2820.555.99%19.48%18.58%6.61%0.07
INDIindie Semiconductor, Inc.857.05M4.23-5.57-2.91%-66.45%-36.77%0.89
ALGMAllegro MicroSystems, Inc.6.05B32.69-83.82-30.91%-3.6%-2.99%0.36%0.40
SITMSiTime Corporation9.23B353.52-87.2940.77%-25.18%-6.42%0.01

Profit & Loss

Oct 2017Oct 2017Oct 2018Nov 2019Oct 2020Oct 2021Oct 2022Oct 2023Nov 2024Nov 2025
Sales/Revenue+3.42B5.25B6.22B5.99B5.6B7.32B12.01B12.31B9.43B11.02B
Revenue Growth %-0%0.53%0.19%-0.04%-0.06%0.31%0.64%0.02%-0.23%0.17%
Cost of Goods Sold+1.19B1.72B1.97B1.98B1.91B2.46B4.21B4.43B4.05B5B
COGS % of Revenue0.35%0.33%0.32%0.33%0.34%0.34%0.35%0.36%0.43%0.45%
Gross Profit+2.23B3.53B4.25B4.01B3.69B4.86B7.8B7.88B5.38B6.02B
Gross Margin %0.65%0.67%0.68%0.67%0.66%0.66%0.65%0.64%0.57%0.55%
Gross Profit Growth %-0.01%0.58%0.21%-0.06%-0.08%0.32%0.61%0.01%-0.32%0.12%
Operating Expenses+1.2B2.36B2.35B2.3B2.19B3.16B4.53B4.05B3.35B3.02B
OpEx % of Revenue0.35%0.45%0.38%0.38%0.39%0.43%0.38%0.33%0.36%0.27%
Selling, General & Admin461.44M644.4M696.6M647.9M660.92M918.7M1.27B1.28B1.08B1.26B
SG&A % of Revenue0.13%0.12%0.11%0.11%0.12%0.13%0.11%0.1%0.11%0.11%
Research & Development653.82M968.13M1.17B1.13B1.05B1.3B1.7B1.66B1.49B1.77B
R&D % of Revenue0.19%0.18%0.19%0.19%0.19%0.18%0.14%0.13%0.16%0.16%
Other Operating Expenses83.81M751.67M489.16M524.9M480.79M949.07M1.55B1.12B785.37M0
Operating Income+1.03B1.16B1.9B1.71B1.5B1.69B3.28B3.82B2.03B3B
Operating Margin %0.3%0.22%0.31%0.29%0.27%0.23%0.27%0.31%0.22%0.27%
Operating Income Growth %0.24%0.13%0.63%-0.1%-0.12%0.13%0.94%0.17%-0.47%0.48%
EBITDA+1.24B1.75B2.7B2.52B2.31B2.77B5.58B6.12B4.14B5B
EBITDA Margin %0.36%0.33%0.43%0.42%0.41%0.38%0.46%0.5%0.44%0.45%
EBITDA Growth %0.18%0.41%0.54%-0.07%-0.08%0.2%1.02%0.1%-0.32%0.21%
D&A (Non-Cash Add-back)209.79M584.06M799.06M811.25M810.92M1.07B2.3B2.29B2.1B2B
EBIT1.05B1.19B1.91B1.71B1.5B1.51B3.3B3.87B2.1B3.03B
Net Interest Income+-67.54M-220.51M-244.21M-218.85M-189M-183.6M-193.5M-223.35M-243.41M-212.45M
Interest Income21.22M30.33M9.38M10.23M4.3M1.22M6.91M41.29M78.82M105.27M
Interest Expense88.76M250.84M253.59M229.07M193.31M184.82M200.41M264.64M322.23M317.72M
Other Income/Expense-71.19M-228.01M-244.28M-224.88M-186.63M-363.49M-179.95M-215.11M-255.46M-290.36M
Pretax Income+956.92M934.75M1.66B1.49B1.31B1.33B3.1B3.61B1.78B2.71B
Pretax Margin %0.28%0.18%0.27%0.25%0.23%0.18%0.26%0.29%0.19%0.25%
Income Tax+95.26M129.37M148.33M122.72M90.86M-61.71M350.19M293.42M142.07M444.77M
Effective Tax Rate %0.9%0.86%0.91%0.92%0.93%1.05%0.89%0.92%0.92%0.84%
Net Income+861.66M805.38M1.51B1.36B1.22B1.39B2.75B3.31B1.64B2.27B
Net Margin %0.25%0.15%0.24%0.23%0.22%0.19%0.23%0.27%0.17%0.21%
Net Income Growth %0.24%-0.07%0.87%-0.1%-0.1%0.14%0.98%0.21%-0.51%0.39%
Net Income (Continuing)861.66M805.38M1.51B1.36B1.22B1.39B2.75B3.31B1.64B2.27B
Discontinued Operations0000000000
Minority Interest0000000000
EPS (Diluted)+2.762.293.993.663.283.465.256.553.284.56
EPS Growth %0.25%-0.17%0.74%-0.08%-0.1%0.05%0.52%0.25%-0.5%0.39%
EPS (Basic)2.792.324.043.693.313.505.296.603.304.59
Diluted Shares Outstanding312.31M350.48M374.94M372.87M371.97M401.29M523.18M505.96M498.7M496.71M
Basic Shares Outstanding308.74M346.37M370.43M369.13M368.63M397.46M519.23M502.23M496.17M494.38M
Dividend Payout Ratio0.6%0.75%0.47%0.57%0.73%0.8%0.56%0.51%1.1%0.85%

Balance Sheet

Oct 2017Oct 2017Oct 2018Nov 2019Oct 2020Oct 2021Oct 2022Oct 2023Nov 2024Nov 2025
Total Current Assets+4.97B2.35B2.11B1.99B2.52B5.38B4.94B4.38B5.48B7.11B
Cash & Short-Term Investments4.06B1.05B816.59M648.32M1.06B1.98B1.47B958.06M2.36B3.65B
Cash Only921.13M1.05B816.59M648.32M1.06B1.98B1.47B958.06M1.99B2.5B
Short-Term Investments3.13B0000000371.82M1.15B
Accounts Receivable477.61M688.95M639.72M635.14M737.54M1.46B1.8B1.47B1.34B1.44B
Days Sales Outstanding50.9547.9337.5138.748.0572.7754.743.5951.7447.57
Inventory376.56M550.82M586.76M609.89M608.26M1.2B1.4B1.64B1.45B1.66B
Days Inventory Outstanding115.09116.93108.48112.58116.08177.98121.37135.36130.61121.01
Other Current Assets0000000314.01M337.47M363.34M
Total Non-Current Assets+3B18.79B18.34B19.41B18.95B46.94B45.36B44.41B42.74B40.88B
Property, Plant & Equipment636.12M1.11B1.15B1.22B1.12B1.98B2.4B3.22B3.42B3.32B
Fixed Asset Turnover5.38x4.74x5.39x4.91x5.00x3.70x5.00x3.82x2.76x3.32x
Goodwill1.68B12.22B12.25B12.26B12.28B26.92B26.91B26.91B26.91B26.95B
Intangible Assets549.37M5.32B4.78B4.22B3.65B15.27B13.27B11.31B9.59B8.01B
Long-Term Investments21.94M24.84M28.73M77.32M86.73M127.86M122.28M000
Other Non-Current Assets72.87M88.61M102.72M53.72M311.86M383.94M397.34M742.94M749.08M742.86M
Total Assets+7.97B21.14B20.45B21.39B21.47B52.32B50.3B48.79B48.23B47.99B
Asset Turnover0.43x0.25x0.30x0.28x0.26x0.14x0.24x0.25x0.20x0.23x
Asset Growth %0.13%1.65%-0.03%0.05%0%1.44%-0.04%-0.03%-0.01%-0%
Total Current Liabilities+782.93M1.6B1.05B1.51B1.36B2.77B2.44B3.2B2.99B3.25B
Accounts Payable171.44M236.63M260.92M225.27M227.27M443.43M582.16M493.04M487.46M543.76M
Days Payables Outstanding52.450.2348.2441.5843.3765.7450.4740.6443.9839.73
Short-Term Debt0300M67M299.67M0516.66M01.05B947.37M446.64M
Deferred Revenue (Current)1000K1000K1000K0000000
Other Current Liabilities112M271.32M-232.49M307.27M418.26M381.68M465.54M389.6M256.95M468.18M
Current Ratio6.35x1.47x2.01x1.32x1.84x1.94x2.02x1.37x1.84x2.19x
Quick Ratio5.87x1.13x1.45x0.91x1.40x1.51x1.45x0.86x1.35x1.68x
Cash Conversion Cycle113.64114.6397.75109.69120.75185.02125.6138.31138.37128.85
Total Non-Current Liabilities+2.02B9.38B8.12B8.17B8.11B11.56B11.39B10.03B10.06B10.93B
Long-Term Debt1.73B7.55B6.27B5.19B5.15B6.25B6.55B5.9B6.63B8.15B
Capital Lease Obligations0000000000
Deferred Tax Liabilities109.93M1.67B990.41M2.09B1.92B3.94B3.62B3.13B2.62B2.16B
Other Non-Current Liabilities179.62M157.66M862.36M894.36M1.04B1.37B1.22B998.08M804.98M622.81M
Total Liabilities2.8B10.98B9.17B9.68B9.47B14.33B13.84B13.23B13.05B14.18B
Total Debt+1.73B7.85B6.33B5.49B5.19B6.82B6.6B7.01B7.65B8.66B
Net Debt811.04M6.8B5.52B4.84B4.13B4.84B5.13B6.06B5.66B6.17B
Debt / Equity0.34x0.77x0.56x0.47x0.43x0.18x0.18x0.20x0.22x0.26x
Debt / EBITDA1.40x4.49x2.35x2.18x2.25x2.47x1.18x1.15x1.85x1.73x
Net Debt / EBITDA0.66x3.89x2.04x1.92x1.79x1.75x0.92x0.99x1.37x1.23x
Interest Coverage11.58x4.64x7.49x7.47x7.75x9.16x16.36x14.45x6.31x9.45x
Total Equity+5.17B10.16B11.27B11.71B12B37.99B36.47B35.57B35.18B33.82B
Equity Growth %0.02%0.97%0.11%0.04%0.02%2.17%-0.04%-0.02%-0.01%-0.04%
Book Value per Share16.5428.9930.0531.4032.2594.6869.7070.2970.5468.08
Total Shareholders' Equity5.17B10.16B11.27B11.71B12B37.99B36.47B35.57B35.18B33.82B
Common Stock51.36M61.44M61.69M61.38M61.58M87.55M84.88M82.71M82.72M81.61M
Retained Earnings4.79B4.91B5.98B6.9B7.24B7.52B8.72B10.36B10.2B10.54B
Treasury Stock0000000000
Accumulated OCI-73.81M-61.36M-58.44M-187.8M-249.46M-186.56M-198.15M-188.3M-185.26M-154.58M
Minority Interest0000000000

Cash Flow

Oct 2017Oct 2017Oct 2018Nov 2019Oct 2020Oct 2021Oct 2022Oct 2023Nov 2024Nov 2025
Cash from Operations+1.28B1.11B2.44B2.25B2.01B2.74B4.48B4.82B3.85B4.81B
Operating CF Margin %0.37%0.21%0.39%0.38%0.36%0.37%0.37%0.39%0.41%0.44%
Operating CF Growth %0.41%-0.13%1.2%-0.08%-0.11%0.36%0.64%0.08%-0.2%0.25%
Net Income861.66M727.26M1.5B1.36B1.22B1.39B2.75B3.31B1.64B2.27B
Depreciation & Amortization209.79M584.06M799.06M811.25M810.92M1.07B2.3B2.29B2.1B2B
Stock-Based Compensation63.42M104.19M151.16M150.3M149.52M243.61M323.49M299.82M262.71M321.56M
Deferred Taxes8.12M-825.87M-736.76M-91.25M-113.95M-406.92M-326.75M-452.95M-367.56M-246.65M
Other Non-Cash Items17.41M306.08M36.57M55.07M-212.19M541.38M316.27M8.66M23.05M-9.91M
Working Capital Changes120.49M216.88M696.89M-35.28M153.42M-108.06M-883.66M-645.59M194.74M481.01M
Change in Receivables-9.39M-65.67M45.98M5.89M-101.63M-114.5M-343.91M330.73M133.4M-90.96M
Change in Inventory38.22M-47.35M-34.64M-42.77M1.76M-65.11M-470.73M-242.3M191.17M-208.64M
Change in Payables85.5M192.25M-5.07M-6.37M103.1M208.44M171.77M-499.32M-133.76M657.3M
Cash from Investing+-1.22B-6.62B-314M-293.19M-180.52M2.14B-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 Revenue0.04%0.04%0.04%0.05%0.03%0.05%0.06%0.1%0.08%0.05%
Acquisitions----------
Investments----------
Other Investing-18.52M-15.84M-6.28M-6.64M-14.83M6.53M41.94M-4.92M-4.77M35.15M
Cash from Financing+-22.92M5.63B-2.36B-2.13B-1.42B-3.96B-4.29B-4.06B-1.71B-2.98B
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-513.18M-602.12M-703.31M-777.48M-886.15M-1.11B-1.54B-1.68B-1.8B-1.92B
Share Repurchases----------
Other Financing29.73M171.07M3.44M113.69M64.39M407.17M53.83M97.77M108.25M7.83M
Net Change in Cash----------
Free Cash Flow+1.15B908.49M2.19B1.98B1.84B2.39B3.78B3.56B3.12B4.28B
FCF Margin %0.34%0.17%0.35%0.33%0.33%0.33%0.31%0.29%0.33%0.39%
FCF Growth %0.53%-0.21%1.41%-0.1%-0.07%0.3%0.58%-0.06%-0.12%0.37%
FCF per Share3.692.595.835.304.955.967.227.036.268.61
FCF Conversion (FCF/Net Income)1.49x1.38x1.62x1.65x1.65x1.97x1.63x1.45x2.36x2.12x
Interest Paid41.7M183.12M233.44M00000268.19M0
Taxes Paid77.92M868.49M211.47M00000414.84M0

Key Ratios

Metric2016201720182019202020212022202320242025
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%5.57%
Gross Margin65.1%67.23%68.28%67%65.87%66.36%64.96%64.01%57.08%54.66%
Net Margin25.18%15.35%24.21%22.75%21.79%19%22.88%26.94%17.35%20.58%
Debt / Equity0.34x0.77x0.56x0.47x0.43x0.18x0.18x0.20x0.22x0.26x
Interest Coverage11.58x4.64x7.49x7.47x7.75x9.16x16.36x14.45x6.31x9.45x
FCF Conversion1.49x1.38x1.62x1.65x1.65x1.97x1.63x1.45x2.36x2.12x
Revenue Growth-0.4%53.34%18.65%-3.75%-6.48%30.61%64.16%2.43%-23.39%16.89%

Revenue by Segment

2015201620172018201920202021202220232024
Industrial1.5B1.5B2.36B3.1B3B2.99B4.01B6.07B6.56B4.31B
Industrial Growth-0.39%57.22%31.38%-3.18%-0.55%34.27%51.30%8.01%-34.19%
Automotive526.12M540.94M782.96M988.74M933.14M779.28M1.25B2.52B2.92B2.83B
Automotive Growth-2.82%44.74%26.28%-5.62%-16.49%60.23%101.46%15.89%-3.01%
Consumer729.97M688.29M1.05B856.78M769.91M640.29M859.71M1.55B1.22B1.2B
Consumer Growth--5.71%52.20%-18.22%-10.14%-16.84%34.27%80.11%-21.49%-0.88%
Communications682.8M690.16M915.39M1.25B1.28B1.2B1.2B1.88B1.62B1.08B
Communications Growth-1.08%32.63%36.87%2.49%-6.86%0.21%56.93%-13.89%-33.28%

Revenue by Geography

2015201620172018201920202021202220232024
UNITED STATES1.33B1.3B2B2.11B2.02B1.89B2.39B4.03B4.17B2.84B
UNITED STATES Growth--1.94%53.82%5.33%-4.03%-6.60%26.60%68.47%3.48%-31.81%
CHINA511.37M575.69M842.53M1.21B1.32B1.35B1.61B2.56B2.23B2.13B
CHINA Growth-12.58%46.35%43.62%8.78%2.41%19.76%58.79%-13.03%-4.52%
Europe939.23M924.85M1.21B1.47B1.37B1.25B1.59B2.53B3B2.11B
Europe Growth--1.53%30.99%21.48%-6.59%-9.38%27.88%59.10%18.44%-29.73%
Asia242.46M233.63M445.3M593.87M566.54M558.94M890.67M1.6B1.42B1.2B
Asia Growth--3.64%90.60%33.36%-4.60%-1.34%59.35%79.25%-10.87%-15.64%
JAPAN319.57M291.65M506.11M716.28M657.63M521.72M787.97M1.22B1.4B1.09B
JAPAN Growth--8.74%73.54%41.52%-8.19%-20.67%51.03%55.03%14.37%-22.30%
North and South America97.19M95.96M103.08M103.4M55.06M41.25M42.83M72.5M88.58M62.32M
North and South America Growth--1.27%7.42%0.31%-46.75%-25.08%3.83%69.27%22.18%-29.65%

Frequently Asked Questions

Valuation & Price

Analog Devices, Inc. (ADI) has a price-to-earnings (P/E) ratio of 66.3x. This suggests investors expect higher future growth.

Growth & Financials

Analog Devices, Inc. (ADI) reported $11.02B in revenue for fiscal year 2025. This represents a 308% increase from $2.70B in 2012.

Analog Devices, Inc. (ADI) grew revenue by 16.9% over the past year. This is strong growth.

Yes, Analog Devices, Inc. (ADI) is profitable, generating $2.27B in net income for fiscal year 2025 (20.6% net margin).

Dividend & Returns

Yes, Analog Devices, Inc. (ADI) pays a dividend with a yield of 1.28%. This makes it attractive for income-focused investors.

Analog Devices, Inc. (ADI) has a return on equity (ROE) of 6.6%. This is below average, suggesting room for improvement.

Analog Devices, Inc. (ADI) generated $4.28B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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