Analog Devices, Inc. (ADI) Financial Ratios
30 years of historical data (1996–2025) · Technology · Semiconductors
EV/EBITDA
↓
44.16
↑+102% vs avg
5yr avg: 21.82
30Y Low7.4·High30.3
P/FCF
↓
49.46
↑+83% vs avg
5yr avg: 27.05
30Y Low11.7·High61.2
P/B Ratio
↑
6.38
↑+149% vs avg
5yr avg: 2.57
30Y Low1.8·High10.8
ROE
↑
6.6%
-1% vs avg
5yr avg: 6.7%
30Y Low4%·High33%
Debt/EBITDA
↓
1.76
+5% vs avg
5yr avg: 1.68
30Y Low0.3·High4.5
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
ADI Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Analog Devices, Inc. trades at 95.3x earnings, 114% above its 5-year average of 44.5x, sitting at the 97th percentile of its historical range. Compared to the Technology sector median P/E of 29.0x, the stock trades at a premium of 228%. On a free-cash-flow basis, the stock trades at 49.5x P/FCF, 83% 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 | $211.6B | $116.3B | $112.4B | $81.2B | $75.8B | $69.6B | $44.1B | $40.8B | $31.4B | $32.0B | $28.5B |
| Enterprise Value | $217.8B | $122.5B | $118.1B | $87.3B | $80.9B | $74.5B | $48.2B | $45.6B | $36.9B | $38.8B | $29.3B |
| P/E Ratio → | 95.28 | 51.34 | 68.74 | 24.51 | 27.60 | 50.14 | 36.14 | 29.88 | 20.98 | 39.87 | 33.05 |
| P/S Ratio | 19.20 | 10.55 | 11.93 | 6.60 | 6.31 | 9.51 | 7.87 | 6.81 | 5.04 | 6.10 | 8.33 |
| P/B Ratio | 6.38 | 3.44 | 3.20 | 2.28 | 2.08 | 1.83 | 3.67 | 3.48 | 2.79 | 3.15 | 5.51 |
| P/FCF | 49.46 | 27.18 | 36.02 | 22.85 | 20.07 | 29.11 | 23.93 | 20.62 | 14.35 | 35.22 | 24.69 |
| P/OCF | 43.98 | 24.17 | 29.19 | 16.86 | 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
ADI EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Analog Devices, Inc.'s enterprise value stands at 44.2x EBITDA, 102% above its 5-year average of 21.8x. The Technology sector median is 16.7x, placing the stock at a 165% 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 | 7.09 | 6.74 | 10.18 | 8.61 | 7.62 | 5.93 | 7.40 | 8.56 |
| EV / EBITDA | 44.16 | 24.83 | 28.55 | 14.27 | 14.51 | 26.91 | 20.88 | 18.09 | 13.67 | 22.21 | 23.67 |
| EV / EBIT | 74.27 | 40.42 | 56.25 | 22.54 | 24.53 | 49.20 | 32.04 | 26.61 | 19.33 | 32.73 | 28.02 |
| EV / FCF | — | 28.62 | 37.83 | 24.55 | 21.43 | 31.14 | 26.17 | 23.07 | 16.87 | 42.71 | 25.40 |
ADI Profitability
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.
Margins
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% |
Return on Capital
| 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% |
ADI Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Analog Devices, Inc. carries a Debt/EBITDA ratio of 1.8x, which is manageable (40% below the sector average of 2.9x). Net debt stands at $6.2B ($8.7B total debt minus $2.5B cash). Interest coverage of 9.5x 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 | 9.54 | 9.54 | 6.52 | 14.63 | 16.46 | 8.19 | 7.79 | 7.49 | 7.53 | 4.73 | 11.78 |
ADI Liquidity & Efficiency
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 |
ADI Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Analog Devices, Inc. returns 1.9% to shareholders annually — split between a 0.9% dividend yield and 1.0% 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 1.0% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
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 | 0.9% | 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% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.0% | 1.9% | 1.5% | 4.1% | 3.6% | 2.0% | 2.8% | 3.3% | 4.8% | 2.5% | 3.0% |
| FCF Yield | 2.0% | 3.7% | 2.8% | 4.4% | 5.0% | 3.4% | 4.2% | 4.8% | 7.0% | 2.8% | 4.0% |
| Buyback Yield | 1.0% | 1.9% | 0.5% | 3.6% | 3.4% | 4.5% | 0.6% | 1.5% | 0.7% | 0.1% | 1.3% |
| Total Shareholder Yield | 1.9% | 3.5% | 2.1% | 5.7% | 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 |
Peer Comparison
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 | $212B | 95.3 | 44.2 | 49.5 | 61.5% | 26.6% | 6.6% | 5.4% | 1.8 |
 TXN | $294B | 59.2 | 38.2 | 112.9 | 57.0% | 34.1% | 30.1% | 15.8% | 1.9 |
 MCHP | $54B | -9999.0 | 56.3 | 69.9 | 56.1% | 6.7% | -0.0% | 1.8% | 5.4 |
 NXPI | $79B | 39.4 | 21.3 | 32.6 | 54.4% | 27.0% | 20.2% | 13.5% | 3.0 |
 STM | $70B | 435.5 | 171.9 | — | 33.9% | 2.7% | 0.9% | 1.3% | 5.3 |
 ON | $48B | 419.4 | 34.2 | 33.6 | 32.3% | 12.5% | 1.5% | 6.1% | 2.4 |
 SWKS | $11B | 23.5 | 11.4 | 9.9 | 41.2% | 12.2% | 7.9% | 6.3% | 1.2 |
 QRVO | $9B | 27.2 | 23.0 | 13.4 | 45.9% | 11.2% | 10.1% | 8.1% | 3.8 |
 MPWR | $77B | 122.6 | 97.1 | 115.3 | 55.2% | 26.1% | 18.4% | 22.2% | 0.0 |
 DIOD | $5B | 83.5 | 29.1 | 40.0 | 31.2% | 2.4% | 3.5% | 1.6% | 0.5 |
 SLAB | $7B | -111.0 | — | 110.2 | 58.2% | -9.0% | -6.0% | -6.8% | — |
| Technology Median | — | 29.0 | 16.7 | 19.2 | 48.8% | 0.2% | 1.6% | 2.7% | 2.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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ADI — Frequently Asked Questions
Quick answers to the most common questions about buying ADI stock.
What is Analog Devices, Inc.'s P/E ratio?
Analog Devices, Inc.'s current P/E ratio is 95.3x. The historical average is 33.4x. This places it at the 97th percentile of its historical range.
What is Analog Devices, Inc.'s EV/EBITDA?
Analog Devices, Inc.'s current EV/EBITDA is 44.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 18.6x.
What is Analog Devices, Inc.'s ROE?
Analog Devices, Inc.'s return on equity (ROE) is 6.6%. The historical average is 14.3%.
Is ADI stock overvalued?
Based on historical data, Analog Devices, Inc. is trading at a P/E of 95.3x. This is at the 97th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Analog Devices, Inc.'s dividend yield?
Analog Devices, Inc.'s current dividend yield is 0.89% with a payout ratio of 84.9%.
What are Analog Devices, Inc.'s profit margins?
Analog Devices, Inc. has 61.5% gross margin and 26.6% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Analog Devices, Inc. have?
Analog Devices, Inc.'s Debt/EBITDA ratio is 1.8x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.