analyzeportfolio
Nasdaq · Technology

Analog Devices Inc. (ADI)

As-reported financials and SEC filings for Analog Devices Inc. The latest annual period is FY2025. The latest reported quarter is Q3 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Analog Devices Inc.

Analog Devices Inc (ADI) is a global semiconductor company that designs, manufactures, and markets integrated circuits, software, and subsystems. Its products include analog, mixed-signal, power management, radio frequency ICs, edge processors, and sensors used to sense, measure, interpret, connect, and power electronic systems. ADI serves original equipment manufacturers and customers in industries such as industrial, automotive, communications, consumer electronics, and healthcare worldwide.

Snapshot

Revenue
$11.02B
Revenue growth (YoY)
16.9%
Net income
$2.27B
Diluted EPS
$4.56
Gross margin
61.5%
Operating margin
26.6%
Net margin
20.6%
FCF margin
38.8%
ROE
6.7%
net income / fiscal-year-end equity
P/E
45.8×
trailing when available, otherwise FY EPS
Market cap
$189.50B
Long-term debt / equity
0.24×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended November 1, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Analog Devices

  • Revenue grew 16.9% to $11.0B in FY2025, after a 23.4% decline the year before.
  • Operating margin is 26.6% in FY2025, +3.5 pp against 23.1% in FY2021.
  • Most recent quarter Q3 FY2026: revenue $4.0B, up 39.6% from Q3 FY2025.
  • Free cash flow was $4.3B in FY2025, 38.8% of revenue.
  • Net income rose 38.7% to $2.3B in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Analog Devices’s fundamentals sit among the 89 semiconductor companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin61.5%
86th percentile of 79
Operating margin26.6%
89th percentile of 80
Net margin20.6%
83rd percentile of 81
FCF margin38.8%
94th percentile of 79
Revenue growth (YoY)+16.9%
54th percentile of 88
ROE6.7%
60th percentile of 76
P/E45.8×
63rd percentile of 44
Long-term debt / equity0.24×
47th percentile of 46
Short interest3.01d
44th percentile of 89

Analog Devices’s FCF margin of 38.8% ranks in the 94th percentile of the 79 semiconductor companies reporting it. Analog Devices’s operating margin of 26.6% ranks in the 89th percentile of the 80 semiconductor companies reporting it. Analog Devices’s gross margin of 61.5% ranks in the 86th percentile of the 79 semiconductor companies reporting it.

No reported insider purchases (code P) in the last 90 days; 54 insider sales totaling $21.6M. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among industry peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 6 of the superinvestors we track (plus 6 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
6
+6 quant / multi-strat
Initiated / added
4
1 new, 3 added
Reduced / exited
10
8 trimmed, 2 exited
Combined position
$1.40B
reported long value
InvestorAs ofPosition valueSharesChange
Markel GroupQ2 2026$397.0M999.7KReduced
AQR Capital ManagementquantQ2 2026$359.0M903.8KAdded
Citadel AdvisorsquantQ2 2026$148.2M373.2KReduced
Point72 Asset ManagementquantQ2 2026$131.1M330.1KReduced
D. E. ShawquantQ2 2026$102.2M257.3KAdded
Millennium ManagementquantQ2 2026$92.9M233.9KReduced
Bridgewater AssociatesQ2 2026$80.7M203.2KAdded
Gotham Asset ManagementQ2 2026$40.1M101.0KReduced
Giverny CapitalQ2 2026$37.1M93.3KReduced
Dodge & CoxQ2 2026$7.6M19.2KReduced
Two Sigma InvestmentsquantQ2 2026$4.8M12.0KReduced
Maverick CapitalQ2 2026$1.1M2.7KNew

No longer held by: First Eagle Investment Management (as of Q2 2026), Renaissance Technologies (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
—
code P value
Sells (90d)
54
$21.6M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-10-20
filed 2026-10-21
Richard C. Puccio Jr.Chief Financial OfficerSell1.5K$389.46$584K
2026-10-08
filed 2026-10-09
Vivek JainChief Operations/Tech OfficerSell3.3K$406.58$1.3M
2026-10-07
filed 2026-10-09
Vivek JainChief Operations/Tech OfficerSell2.0K$409.79$820K
2026-10-07
filed 2026-10-08
Ray StataDirectorSell482$406.41$196K
2026-10-07
filed 2026-10-08
Ray StataDirectorSell333$405.57$135K
2026-10-07
filed 2026-10-08
Ray StataDirectorSell234$410.10$96K
2026-10-07
filed 2026-10-08
Ray StataDirectorSell228$407.29$93K
2026-10-07
filed 2026-10-08
Ray StataDirectorSell65$411.16$27K
2026-10-07
filed 2026-10-08
Ray StataDirectorSell48$409.24$20K
2026-10-07
filed 2026-10-08
Ray StataDirectorSell26$412.17$11K
2026-10-06
filed 2026-10-07
Richard C. Puccio Jr.Chief Financial OfficerSell1.5K$421.08$632K
2026-10-06
filed 2026-10-08
Ray StataDirectorSell702$420.30$295K

Reported non-derivative purchases and sales (codes P/S), which may be open-market or private. Excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
9.9M
settled 2026-09-30
Change vs prior
+15.2%
vs previous settlement
Days to cover
3.01
at avg daily volume
Avg daily volume
3.3M
FINRA reported
SettlementShares shortChangeDays to cover
2026-09-309.9M+15.2%3.01
2026-09-158.6M-1.5%2.67
2026-08-318.8M+4.1%2.18
2026-08-148.4M-14.0%2.76
2026-07-319.8M-6.7%2.30
2026-07-1510.5M-13.0%2.73
2026-06-3012.0M-0.1%1.82
2026-06-1512.0M+27.1%2.57

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$11.02B$9.43B$12.31B$12.01B$7.32B
Gross profit
Operating income$2.93B$2.03B$3.82B$3.28B$1.69B
Pre-tax income$2.71B$1.78B$3.61B$3.10B$1.33B
Net income$2.27B$1.64B$3.31B$2.75B$1.39B
Diluted EPS$4.56$3.28$6.55$5.25$3.46

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures (free cash flow is operating cash flow minus capital expenditures, which can differ from a company’s own definition); “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Diluted EPS includes discontinued operations where a company reports them. Cash & Equivalents excludes short-term investments and may include restricted cash where that is the figure the company tags. Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$2.50B$1.99B$958.1M$1.47B$1.98B
Current assets$7.11B$5.48B$4.38B$4.94B$5.38B
Total assets$47.99B$48.23B$48.79B$50.30B$52.32B
Current liabilities$3.25B$2.99B$3.20B$2.44B$2.77B
Long-term debt$8.15B$6.63B$5.90B$6.55B$6.78B
Total liabilities
Total equity$33.82B$35.18B$35.57B$36.47B$37.99B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures (free cash flow is operating cash flow minus capital expenditures, which can differ from a company’s own definition); “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Diluted EPS includes discontinued operations where a company reports them. Cash & Equivalents excludes short-term investments and may include restricted cash where that is the figure the company tags. Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$4.81B$3.85B$4.82B$4.48B$2.74B
Capital expenditure$533.6M$730.5M$1.26B$699.3M$343.7M
Free cash flow

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures (free cash flow is operating cash flow minus capital expenditures, which can differ from a company’s own definition); “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Diluted EPS includes discontinued operations where a company reports them. Cash & Equivalents excludes short-term investments and may include restricted cash where that is the figure the company tags. Full details: where the numbers come from.

Quarterly trend

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q3 FY2026$4.02B39.6%$1.34B$2.74
Q2 FY2026$3.62B37.2%$1.18B$2.40
Q1 FY2026$3.16B30.4%$830.8M$1.69
Q4 FY202525.9%
Q3 FY2025$2.88B24.6%$518.5M$1.04
Q2 FY2025$2.64B22.3%$569.8M$1.14
Q1 FY2025$2.42B-3.6%$391.3M$0.78
Q4 FY2024-10.1%

Latest 8 quarters, from company XBRL filings on SEC EDGAR. A dotted underline marks a fourth-quarter figure we calculated from the full year and the first nine months. Revenue YoY is our calculation too: each quarter against the same quarter a year earlier.

Company facts

ExchangeNasdaq
SectorTechnology
SIC industrySemiconductors & Related Devices
Latest annual periodFY2025 (ended November 1, 2025)
Latest reported quarterQ3 FY2026 (ended August 1, 2026)
Oldest indexed filing2019
SEC CIK6281

Selected SEC filings

10-K2025-11-25
View on EDGAR →
10-K2024-11-26
View on EDGAR →
10-Q2026-08-19
View on EDGAR →
10-Q2026-05-20
View on EDGAR →
10-Q2026-02-18
View on EDGAR →
10-Q2025-08-20
View on EDGAR →
8-K2026-09-17
View on EDGAR →
8-K2026-09-09
View on EDGAR →

Largest semiconductor peers

All semiconductor stocks →All Technology companies →

Monitor ADI

Get an alert when Analog Devices files something material, see which superinvestors own it, and ask its filings a question with cited answers.

Monitor ADI free

Includes one free filing-grounded research answer. Or check your whole portfolio, no account needed.

Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.