ADI

MKT CAP:$196B

Analog Devices, Inc.

Market Cap

$196B

Technology·Semiconductors·🇺🇸 United States·NASDAQ

Technology·Semiconductors·🇺🇸·NASDAQ

Stock Price

$402.34+$128.60 (+46.98%)

Apr 24, 2026

Company Details

Analog 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,...

CEO

Vincent T. Roche

IPO Date

Mar 17, 1980

Website

www.analog.com

Key Metrics TTM

Revenue

$11.8B

+25.9% YoY

Net Income

$2.7B

EPS (Diluted)

$5.47

Free Cash Flow

$4.6B

Revenue / Share

$23.91

Gross Margin

62.8%

Operating Margin

29.2%

Net Margin

23.0%

FCF Margin

38.8%

P/S

16.7x

P/E

72.4x

Earnings Reports

Q1 2026

Feb 18, 2026

$3.2B+30.4%EPS $1.69

FY 2025

Nov 25, 2025

$11.0B+16.9%EPS $4.56

Q4 2025

Nov 25, 2025

$3.1B+25.9%EPS $1.60

Q3 2025

Aug 20, 2025

$2.9B+24.6%EPS $1.04

Q2 2025

May 22, 2025

$2.6B+22.3%EPS $1.14

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$3.0B	$1.9B	$918M
Q3 22	$3.1B	$2.0B	$893M
Q4 22	$3.2B	$2.1B	$1.1B
Q1 23	$3.2B	$2.1B	$1.1B
Q2 23	$3.3B	$2.1B	$1.1B
Q3 23	$3.1B	$2.0B	$929M
Q4 23	$2.7B	$1.6B	$634M
Q1 24	$2.5B	$1.5B	$586M
Q2 24	$2.2B	$1.2B	$386M
Q3 24	$2.3B	$1.3B	$491M
Q4 24	$2.4B	$1.4B	$569M
Q1 25	$2.4B	$1.4B	$491M
Q2 25	$2.6B	$1.6B	$678M
Q3 25	$2.9B	$1.8B	$818M
Q4 25	$3.1B	$1.9B	$945M
Q1 26	$3.2B	$2.0B	$997M

Valuation

Quarter	P/S	P/E
Q2 22	8.4x	49.8x
Q3 22	7.9x	46.5x
Q4 22	6.0x	26.3x
Q1 23	6.8x	24.9x
Q2 23	7.1x	25.2x
Q3 23	7.7x	26.4x
Q4 23	6.3x	23.3x
Q1 24	8.3x	33.9x
Q2 24	9.6x	47.1x
Q3 24	10.3x	60.1x
Q4 24	11.8x	68.0x
Q1 25	10.9x	65.1x
Q2 25	10.0x	53.4x
Q3 25	10.5x	55.8x
Q4 25	10.4x	50.4x
Q1 26	13.2x	57.2x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 22	$1.2B	$1.1B
Q3 22	$1.2B	$1.1B
Q4 22	$1.1B	$845M
Q1 23	$1.4B	$1.2B
Q2 23	$1.1B	$797M
Q3 23	$1.1B	$818M
Q4 23	$1.2B	$711M
Q1 24	$1.1B	$916M
Q2 24	$808M	$620M
Q3 24	$855M	$701M
Q4 24	$1.1B	$885M
Q1 25	$1.1B	$978M
Q2 25	$819M	$729M
Q3 25	$1.2B	$1.1B
Q4 25	$1.7B	$1.5B
Q1 26	$1.4B	$1.3B

Capital Expenditures

Quarter	CapEx
Q2 22	$119M
Q3 22	$165M
Q4 22	$305M
Q1 23	$176M
Q2 23	$284M
Q3 23	$325M
Q4 23	$476M
Q1 24	$223M
Q2 24	$188M
Q3 24	$154M
Q4 24	$165M
Q1 25	$149M
Q2 25	$90M
Q3 25	$79M
Q4 25	$215M
Q1 26	$109M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	+78.9%	+79.9%
Q3 22	+76.8%	+92.9%
Q4 22	+38.8%	-4.3%
Q1 23	+21.1%	-8.7%
Q2 23	+9.8%	+3.9%
Q3 23	-1.1%	-3.1%
Q4 23	-16.4%	-2.9%
Q1 24	-22.7%	-9.1%
Q2 24	-33.8%	-16.9%
Q3 24	-24.8%	-15.2%
Q4 24	-10.1%	-10.0%
Q1 25	-3.6%	+0.3%
Q2 25	+22.3%	+10.7%
Q3 25	+24.6%	+13.3%
Q4 25	+25.9%	+13.7%
Q1 26	+30.4%	+12.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 22	$71M	2.4%
Q3 22	$85M	2.7%
Q4 22	$81M	2.5%
Q1 23	$75M	2.3%
Q2 23	$69M	2.1%
Q3 23	$83M	2.7%
Q4 23	$73M	2.7%
Q1 24	$70M	2.8%
Q2 24	$58M	2.7%
Q3 24	$64M	2.8%
Q4 24	$70M	2.9%
Q1 25	$78M	3.2%
Q2 25	$73M	2.8%
Q3 25	$85M	2.9%
Q4 25	$86M	2.8%
Q1 26	$86M	2.7%

OpEx Breakdown

Quarter	R&D	SG&A
Q2 22	$421M	$305M
Q3 22	$432M	$327M
Q4 22	$421M	$340M
Q1 23	$414M	$326M
Q2 23	$416M	$324M
Q3 23	$424M	$334M
Q4 23	$407M	$294M
Q1 24	$391M	$290M
Q2 24	$355M	$244M
Q3 24	$363M	$257M
Q4 24	$379M	$284M
Q1 25	$403M	$285M
Q2 25	$442M	$303M
Q3 25	$454M	$326M
Q4 25	$467M	$342M
Q1 26	$467M	$345M

Revenue Segments

Quarter	Automotive	Communications	Consumer	Industrial
Q2 22	$634M	$473M	$364M	$1.5B
Q3 22	$659M	$491M	$405M	$1.6B
Q4 22	$670M	$504M	$401M	$1.7B
Q1 23	$718M	$488M	$353M	$1.7B
Q2 23	$785M	$454M	$280M	$1.7B
Q3 23	$748M	$381M	$319M	$1.6B
Q4 23	$665M	$297M	$263M	$1.5B
Q1 24	$739M	$303M	$274M	$1.2B
Q2 24	$658M	$241M	$245M	$1.0B
Q3 24	$670M	$267M	$317M	$1.1B
Q4 24	$760M	$271M	$369M	$1.0B
Q1 25	$733M	$290M	$323M	$1.1B
Q2 25	$850M	$315M	$318M	$1.2B
Q3 25	$851M	$372M	$372M	$1.3B

Revenue by Geography

Quarter

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$1.7B	$0	$1.7B
Q3 22	$1.5B	$0	$1.5B
Q4 22	$1.5B	$0	$1.5B
Q1 23	$1.7B	$0	$1.7B
Q2 23	$1.2B	$0	$1.2B
Q3 23	$1.1B	$0	$1.1B
Q4 23	$958M	$0	$958M
Q1 24	$1.3B	$0	$1.3B
Q2 24	$1.9B	$424M	$2.4B
Q3 24	$2.1B	$440M	$2.5B
Q4 24	$2.0B	$372M	$2.4B
Q1 25	$2.3B	$371M	$2.7B
Q2 25	$2.4B	$0	$2.4B
Q3 25	$2.3B	$1.1B	$3.5B
Q4 25	$2.5B	$1.2B	$3.7B
Q1 26	$2.9B	$1.1B	$4.0B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	526M	-0.7%	+41.3%
Q3 22	521M	-1.1%	+40.0%
Q4 22	516M	-0.9%	+5.7%
Q1 23	511M	-0.9%	-3.6%
Q2 23	509M	-0.5%	-3.3%
Q3 23	504M	-1.0%	-3.3%
Q4 23	506M	+0.5%	-1.9%
Q1 24	499M	-1.4%	-2.4%
Q2 24	499M	-0.0%	-2.0%
Q3 24	499M	+0.1%	-0.9%
Q4 24	499M	-0.0%	-1.4%
Q1 25	499M	-0.0%	-0.0%
Q2 25	498M	-0.1%	-0.1%
Q3 25	497M	-0.3%	-0.4%
Q4 25	493M	-0.7%	-1.1%
Q1 26	492M	-0.3%	-1.4%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 22	$120.3K	25K
Q3 22	$125.9K	25K
Q4 22	$132.8K	24K
Q1 23	$132.9K	24K
Q2 23	$133.5K	24K
Q3 23	$125.8K	24K
Q4 23	$104.5K	26K
Q1 24	$96.6K	26K
Q2 24	$83.0K	26K
Q3 24	$88.9K	26K
Q4 24	$101.8K	24K
Q1 25	$101.0K	24K
Q2 25	$110.0K	24K
Q3 25	$120.0K	24K
Q4 25	$125.6K	25K
Q1 26	$129.0K	25K

Revenue / Employee