A 
Analog Devices ADI · USD
Information Technology · Semiconductors & Semiconductor Equipment · US listing · 🇺🇸 United States
S&P 500Nasdaq-100
394.66
+8.55%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$11.02bn
FY2016FY2025
Net income
$2.27bn
FY2016FY2025
Free cash flow
$4.28bn
FY2016FY2025
Shareholders' equity
$33.82bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $11.02bn | $9.43bn | $12.31bn | $12.01bn | $7.32bn | $5.60bn | $5.99bn | $6.22bn | $5.25bn | $3.42bn |
| Gross profit | $6.77bn | $5.38bn | $7.88bn | $7.80bn | $4.86bn | $3.69bn | $4.01bn | $4.25bn | $3.53bn | $2.23bn |
| Research and development | $1.77bn | $1.49bn | $1.66bn | $1.70bn | $1.30bn | $1.05bn | $1.13bn | $1.17bn | $968.1m | $653.8m |
| Operating income | $2.93bn | $2.03bn | $3.82bn | $3.28bn | $1.69bn | $1.50bn | $1.71bn | $1.90bn | $1.19bn | $1.05bn |
| Net income | $2.27bn | $1.64bn | $3.31bn | $2.75bn | $1.39bn | $1.22bn | $1.36bn | $1.51bn | $805.4m | $861.7m |
| Diluted earnings per share | 4.60 | 3.28 | 6.55 | 5.33 | 2.85 | 3.28 | 3.66 | 4.05 | 2.15 | 2.75 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $47.99bn | $48.23bn | $48.79bn | $50.30bn | $52.32bn | $21.47bn | $21.39bn | $20.45bn | $21.14bn | $7.97bn |
| Cash and short-term investments | $3.65bn | $2.36bn | $958.1m | $1.47bn | $1.98bn | $1.06bn | $648.3m | $816.6m | $1.05bn | $4.06bn |
| Total liabilities | $14.18bn | $13.05bn | $13.23bn | $13.84bn | $14.33bn | $9.47bn | $9.68bn | $9.17bn | $10.98bn | $2.80bn |
| Debt | $8.66bn | $7.65bn | $7.01bn | $6.60bn | $6.82bn | $5.14bn | $5.49bn | $6.33bn | $7.85bn | $3.46bn |
| Shareholders' equity | $33.82bn | $35.18bn | $35.57bn | $36.47bn | $37.99bn | $12.00bn | $11.71bn | $11.27bn | $10.16bn | $5.17bn |
| Shares outstanding | 493m | 499m | 506m | 516m | 488m | 372m | 373m | 373m | 374m | 313m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $4.81bn | $3.85bn | $4.82bn | $4.48bn | $2.74bn | $2.01bn | $2.25bn | $2.44bn | $1.11bn | $1.28bn |
| Capital spending | −$533.6m | −$730.5m | −$1.26bn | −$699.3m | −$343.7m | −$165.7m | −$275.4m | −$254.9m | −$204.1m | −$127.4m |
| Free cash flow | $4.28bn | $3.12bn | $3.56bn | $3.78bn | $2.39bn | $1.84bn | $1.98bn | $2.19bn | $908.5m | $1.15bn |
| Dividends paid | −$1.92bn | −$1.80bn | −$1.68bn | −$1.54bn | −$1.11bn | −$886.2m | −$777.5m | −$703.3m | −$602.1m | −$513.2m |
Latest quarters
By quarter end
| Jul 2026 | Apr 2026 | Jan 2026 | Oct 2025 | Jul 2025 | Apr 2025 | Jan 2025 | Oct 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.02bn | $3.62bn | $3.16bn | $3.08bn | $2.88bn | $2.64bn | $2.42bn | $2.44bn |
| Gross profit | $2.71bn | $2.44bn | $2.04bn | $1.94bn | $1.79bn | $1.61bn | $1.43bn | $1.42bn |
| Operating income | $1.61bn | $1.38bn | $997.0m | $945.2m | $818.0m | $677.9m | $491.3m | $569.4m |
| Net income | $1.34bn | $1.18bn | $830.8m | $787.7m | $518.5m | $569.8m | $391.3m | $478.1m |
| Diluted earnings per share | 2.73 | 2.40 | 1.69 | 1.60 | 1.05 | 1.16 | 0.79 | 0.96 |
| Cash from operations | $1.60bn | $872.0m | $1.37bn | $1.70bn | $1.17bn | $819.0m | $1.13bn | $1.05bn |
| Capital spending | −$145.0m | −$137.0m | −$109.0m | −$215.0m | −$79.0m | −$90.0m | −$148.0m | −$165.0m |
| Free cash flow | $1.46bn | $735.0m | $1.26bn | $1.49bn | $1.09bn | $729.0m | $978.0m | $885.0m |
| Total assets | $48.42bn | $47.95bn | $47.99bn | $47.99bn | $48.19bn | $47.34bn | $47.97bn | $48.23bn |
| Cash and short-term investments | $2.32bn | $3.44bn | $4.05bn | $3.65bn | $3.47bn | $2.38bn | $2.72bn | $2.36bn |
| Debt | $9.12bn | $8.68bn | $8.68bn | $8.59bn | $8.69bn | $7.20bn | $7.17bn | $7.18bn |
| Shareholders' equity | $33.55bn | $33.74bn | $33.79bn | $33.82bn | $34.09bn | $35.01bn | $35.07bn | $35.18bn |
Financial ratios
Data as of 6 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 61.5% | 57.1% | 64.0% | 65.0% | 66.4% | 65.9% |
| Operating margin | 26.6% | 21.6% | 31.1% | 27.3% | 23.1% | 26.7% |
| Net margin | 20.6% | 17.3% | 26.9% | 22.9% | 19.0% | 21.8% |
| Return on equity | 6.7% | 4.6% | 9.3% | 7.5% | 3.7% | 10.2% |
| Return on assets | 4.7% | 3.4% | 6.8% | 5.5% | 2.7% | 5.7% |
| Free cash flow yield | 3.0% | 2.5% | 3.3% | 2.8% | 1.7% | 1.6% |
| Revenue growth | 16.9% | -23.4% | 2.4% | 64.2% | 30.6% | -6.5% |
| Earnings growth | 38.7% | -50.7% | 20.6% | 97.7% | 13.9% | -10.4% |
| Current ratio | 2.19x | 1.84x | 1.37x | 2.02x | 1.94x | 1.84x |
| Debt to equity | 0.26x | 0.22x | 0.20x | 0.18x | 0.18x | 0.43x |
| Equity ratio | 70.5% | 72.9% | 72.9% | 72.5% | 72.6% | 55.9% |
| Interest coverage | 9.23x | 6.31x | 14.45x | 16.36x | 9.16x | 7.75x |
| R&D as a share of sales | 16.0% | 15.8% | 13.5% | 14.2% | 17.7% | 18.7% |
| Buybacks as a share of market value | 1.1% | 1.4% | 1.9% | -5.7% | -31.0% | 0.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -2.8% | 14.5% | 12.4% |
| Operating income | -3.7% | 14.4% | 13.4% |
| Net income | -6.2% | 13.2% | 12.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 59.4% | 62.2% | 63.1% | 64.2% |
| Operating margin | 24.3% | 27.0% | 26.4% | 26.7% |
| Net margin | 19.1% | 22.3% | 21.8% | 21.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 59.0 | 64.8 | 30.3 | 30.8 | 61.7 | 45.1 | 32.5 | 21.2 | 41.4 | 26.4 |
| Price to sales | 12.1 | 11.2 | 8.2 | 7.0 | 11.7 | 9.8 | 7.4 | 5.1 | 6.3 | 6.7 |
Market value over time
30 Sept 2016 to 4 Sept 2026, in USD
$20.04bn$177.62bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | 32% | 5% | 20% | -2% | 18% | 19% | 45% | -7% | 21% | 35% |
Dividends and splits
Per share, in the currency the company pays
Paid for 23 years. Last went ex-dividend on 1 Sept 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 3.19 | 3.89 | 3.62 | 3.34 | 2.97 | 2.69 | 2.40 | 2.10 |
- 2-for-1 split · 16 Mar 2000
- 4-for-3 split · 7 Jan 1997
- 3-for-2 split · 4 Jan 1996
- 3-for-2 split · 5 Jan 1995
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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