30 years of historical data (1996–2025) · Technology · Semiconductors
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Analog Devices, Inc. trades at 78.0x earnings, 76% above its 5-year average of 44.4x, sitting at the 97th percentile of its historical range. Compared to the Technology sector median P/E of 25.2x, the stock trades at a premium of 209%. On a free-cash-flow basis, the stock trades at 40.6x P/FCF, 51% above the 5-year average of 27.0x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $173.7B | $116.3B | $112.4B | $79.6B | $75.8B | $69.6B | $44.1B | $40.8B | $31.4B | $32.0B | $28.5B |
| Enterprise Value | $179.9B | $122.5B | $118.1B | $85.7B | $80.9B | $74.5B | $48.2B | $45.6B | $36.9B | $38.8B | $29.3B |
| P/E Ratio → | 78.02 | 51.34 | 68.74 | 24.02 | 27.60 | 50.14 | 36.14 | 29.88 | 20.98 | 39.87 | 33.05 |
| P/S Ratio | 15.76 | 10.55 | 11.93 | 6.47 | 6.31 | 9.51 | 7.87 | 6.81 | 5.04 | 6.10 | 8.33 |
| P/B Ratio | 5.23 | 3.44 | 3.20 | 2.24 | 2.08 | 1.83 | 3.67 | 3.48 | 2.79 | 3.15 | 5.51 |
| P/FCF | 40.60 | 27.18 | 36.02 | 22.38 | 20.07 | 29.11 | 23.93 | 20.62 | 14.35 | 35.22 | 24.69 |
| P/OCF | 36.10 | 24.17 | 29.19 | 16.52 | 16.94 | 25.45 | 21.95 | 18.10 | 12.85 | 28.76 | 22.24 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
Analog Devices, Inc.'s enterprise value stands at 36.5x EBITDA, 68% above its 5-year average of 21.8x. The Technology sector median is 15.7x, placing the stock at a 132% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 11.11 | 12.53 | 6.96 | 6.74 | 10.18 | 8.61 | 7.62 | 5.93 | 7.40 | 8.56 |
| EV / EBITDA | 36.47 | 24.83 | 28.55 | 14.01 | 14.51 | 26.91 | 20.88 | 18.09 | 13.67 | 22.21 | 23.67 |
| EV / EBIT | 61.33 | 40.42 | 56.25 | 22.12 | 24.53 | 49.20 | 32.04 | 26.61 | 19.33 | 32.73 | 28.02 |
| EV / FCF | — | 28.62 | 37.83 | 24.09 | 21.43 | 31.14 | 26.17 | 23.07 | 16.87 | 42.71 | 25.40 |
Margins and return-on-capital ratios measuring operating efficiency
Analog Devices, Inc. earns an operating margin of 26.6%. Operating margins have compressed from 31.1% to 26.6% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 6.6% is modest. ROIC of 5.4% represents adequate returns on invested capital.
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 61.5% | 61.5% | 57.1% | 64.0% | 65.0% | 66.4% | 65.9% | 67.0% | 68.3% | 67.2% | 65.1% |
| Operating Margin | 26.6% | 26.6% | 21.6% | 31.1% | 27.3% | 23.1% | 26.7% | 28.6% | 30.5% | 22.2% | 30.0% |
| Net Profit Margin | 20.6% | 20.6% | 17.3% | 26.9% | 22.9% | 19.0% | 21.8% | 22.8% | 24.2% | 15.4% | 25.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 6.6% | 6.6% | 4.6% | 9.2% | 7.4% | 5.6% | 10.3% | 11.9% | 14.1% | 10.5% | 16.8% |
| ROA | 4.7% | 4.7% | 3.4% | 6.7% | 5.4% | 3.8% | 5.7% | 6.5% | 7.2% | 5.5% | 11.5% |
| ROIC | 5.4% | 5.4% | 3.7% | 6.9% | 5.8% | 4.3% | 6.9% | 7.7% | 8.4% | 7.6% | 14.0% |
| ROCE | 6.5% | 6.5% | 4.5% | 8.2% | 6.7% | 4.9% | 7.5% | 8.7% | 9.8% | 8.7% | 15.7% |
Solvency and debt-coverage ratios — lower is generally safer
Analog Devices, Inc. carries a Debt/EBITDA ratio of 1.8x, which is manageable (41% below the sector average of 3.0x). Net debt stands at $6.2B ($8.7B total debt minus $2.5B cash). Interest coverage of 9.2x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.26 | 0.26 | 0.22 | 0.20 | 0.18 | 0.18 | 0.43 | 0.47 | 0.56 | 0.77 | 0.34 |
| Debt / EBITDA | 1.76 | 1.76 | 1.85 | 1.15 | 1.18 | 2.47 | 2.25 | 2.18 | 2.35 | 4.49 | 1.40 |
| Net Debt / Equity | — | 0.18 | 0.16 | 0.17 | 0.14 | 0.13 | 0.34 | 0.41 | 0.49 | 0.67 | 0.16 |
| Net Debt / EBITDA | 1.25 | 1.25 | 1.37 | 0.99 | 0.92 | 1.75 | 1.79 | 1.92 | 2.04 | 3.89 | 0.66 |
| Debt / FCF | — | 1.44 | 1.81 | 1.70 | 1.36 | 2.03 | 2.24 | 2.45 | 2.52 | 7.49 | 0.70 |
| Interest Coverage | 9.23 | 9.23 | 6.31 | 14.45 | 16.36 | 9.16 | 7.75 | 7.47 | 7.49 | 4.64 | 11.58 |
Short-term solvency ratios and asset-utilisation metrics
Analog Devices, Inc.'s current ratio of 2.19x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 1.68x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 1.37x to 2.19x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.19 | 2.19 | 1.84 | 1.37 | 2.02 | 1.94 | 1.84 | 1.32 | 2.01 | 1.47 | 6.35 |
| Quick Ratio | 1.68 | 1.68 | 1.35 | 0.86 | 1.45 | 1.51 | 1.40 | 0.91 | 1.45 | 1.13 | 5.87 |
| Cash Ratio | 1.13 | 1.13 | 0.79 | 0.30 | 0.60 | 0.71 | 0.77 | 0.43 | 0.78 | 0.66 | 5.18 |
| Asset Turnover | — | 0.23 | 0.20 | 0.25 | 0.24 | 0.14 | 0.26 | 0.28 | 0.30 | 0.25 | 0.43 |
| Inventory Turnover | 2.56 | 2.56 | 2.79 | 2.70 | 3.01 | 2.05 | 3.14 | 3.24 | 3.36 | 3.12 | 3.17 |
| Days Sales Outstanding | — | 47.57 | 51.74 | 43.59 | 54.70 | 72.77 | 48.05 | 38.70 | 37.51 | 47.93 | 50.95 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Analog Devices, Inc. returns 2.3% to shareholders annually — split between a 1.1% dividend yield and 1.2% buyback yield. The payout ratio of 84.9% is elevated — while still covered by earnings, there is limited headroom for dividend increases. The earnings yield of 1.3% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.1% | 1.7% | 1.6% | 2.1% | 2.0% | 1.6% | 2.0% | 1.9% | 2.2% | 1.9% | 1.8% |
| Payout Ratio | 84.9% | 84.9% | 109.8% | 50.7% | 56.2% | 79.8% | 72.6% | 57.0% | 46.7% | 74.8% | 59.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.3% | 1.9% | 1.5% | 4.2% | 3.6% | 2.0% | 2.8% | 3.3% | 4.8% | 2.5% | 3.0% |
| FCF Yield | 2.5% | 3.7% | 2.8% | 4.5% | 5.0% | 3.4% | 4.2% | 4.8% | 7.0% | 2.8% | 4.0% |
| Buyback Yield | 1.2% | 1.9% | 0.5% | 3.7% | 3.4% | 4.5% | 0.6% | 1.5% | 0.7% | 0.1% | 1.3% |
| Total Shareholder Yield | 2.3% | 3.5% | 2.1% | 5.8% | 5.4% | 6.1% | 2.6% | 3.4% | 3.0% | 2.0% | 3.1% |
| Shares Outstanding | — | $497M | $499M | $506M | $523M | $401M | $372M | $373M | $375M | $350M | $312M |
Compare ADI with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| ADIYou | $174B | 78.0 | 36.5 | 40.6 | 61.5% | 26.6% | 6.6% | 5.4% | 1.8 |
| AVGO | $1.5T | 67.0 | 44.1 | 56.3 | 67.8% | 39.9% | 31.0% | 14.9% | 1.8 |
| TXN | $193B | 38.9 | 25.3 | 74.0 | 57.0% | 34.1% | 30.1% | 16.6% | 1.8 |
| QCOM | $153B | 28.4 | 11.6 | 11.9 | 55.4% | 27.9% | 23.3% | 29.1% | 1.2 |
| MRVL | $71B | -80.1 | 116.5 | 50.9 | 41.3% | -12.5% | -6.3% | -3.1% | 6.8 |
| NXPI | $57B | 28.6 | 16.0 | 23.6 | 54.4% | 27.0% | 20.2% | 13.5% | 3.0 |
| MCHP | $40B | -9999.0 | 43.1 | 52.1 | 56.1% | 6.7% | -0.0% | 1.8% | 5.4 |
| STM | $30B | 20.2 | 9.0 | — | 39.3% | 12.6% | 9.0% | 7.1% | 0.9 |
| ALAB | $20B | 97.4 | 111.3 | 71.8 | 75.7% | 20.3% | 18.8% | 12.5% | — |
| MTSI | $19B | -339.9 | 98.7 | 96.5 | 54.9% | 13.4% | -4.4% | 6.0% | 2.8 |
| SITM | $10B | -98.2 | — | — | 51.6% | -56.9% | -13.3% | -12.3% | — |
| Technology Median | — | 25.2 | 15.7 | 17.3 | 49.8% | -0.9% | 1.1% | 2.9% | 3.0 |
Peers based on L4 peer group classification. Compare multiple stocks →
Includes 30+ ratios · 30 years · Updated daily
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Start ComparisonAnalog Devices, Inc.'s current P/E ratio is 78.0x. The historical average is 33.4x. This places it at the 97th percentile of its historical range.
Analog Devices, Inc.'s current EV/EBITDA is 36.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 18.6x.
Analog Devices, Inc.'s return on equity (ROE) is 6.6%. The historical average is 14.3%.
Based on historical data, Analog Devices, Inc. is trading at a P/E of 78.0x. This is at the 97th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Analog Devices, Inc.'s current dividend yield is 1.09% with a payout ratio of 84.9%.
Analog Devices, Inc. has 61.5% gross margin and 26.6% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Analog Devices, Inc.'s Debt/EBITDA ratio is 1.8x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.