Analog Devices

Information Technology Semiconductors Wilmington, Massachusetts Last filing Nov 25, 2025 · FY2025

                    Revenue
                    FY2025
                
$11.0B
                    3y CAGR -2.8%
                    
                    P14
                    
                    n/a
                    
                    Net income
                    FY2025
                
$2.3B
                    Net margin +20.6%
                    
                    P68
                    
                    n/a
                    
                    Total assets
                    FY2025
                
$48.0B
                    ROA +4.7%
                    
                    P22
                    
                    n/a
                    
                    Operating cash flow
                    FY2025
                
$4.8B
                    FCF margin +38.8%
                    
                    P91
                    
                    n/a

19 yrs · FY2007–FY2025 8 filed · 1 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

26 accounts · 1 year

Total assets $48.0B

Total liabilities ~$14.2B

Shareholders equity $33.8B

Account	2025	Trend
Assets
Cash and Cash Equivalents	$2.5B
Short Term Investments	$1.2B
Accounts Receivable	$1.4B
Inventory	$1.7B
Prepaid Expenses	$363.3M
Total Current Assets	$7.1B
Property,Plant and Equipment	$3.3B
Goodwill	$26.9B
Intangible Assets	$8.0B
Deferred Tax Assets	$1.9B
Other Noncurrent Assets	$742.9M
Total Assets	$48.0B
Liabilities
Accounts Payable	$543.8M
Accrued Liabilities	$2.3B
Current Portion of Long Term Debt	$446.6M
Total Current Liabilities	$3.2B
Long Term Debt	$8.1B
Deferred Tax Liabilities	$2.2B
Other Noncurrent Liabilities	$622.8M
Equity
Preferred Stock	$0
Common Stock	$81.6M
Additional Paid In Capital	$23.3B
Retained Earnings	$10.5B
Accumulated Other Comprehensive Income	$-154.6M
Total Stockholders Equity	$33.8B
Total Liabilitiesand Equity	$48.0B

Income Statement

Revenue, expense, and profitability

18 accounts · 1 year

Revenue $11.0B

Operating income $2.9B

Net income $2.3B

Account	2025	Trend
IncomeStatement
Revenues Total Revenue	$11.0B
Expenses Cost of Revenue	$4.2B
Other Income Expense Gross Profit	$6.8B
Expenses Research and Development	$1.8B
Expenses Selling,General and Administrative	$1.3B
Expenses Restructuring and Asset Impairment	$70.0M
Expenses Operating Expenses	$3.8B
Other Income Expense Operating Income	$2.9B
Other Income Expense Interest Income	$105.3M
Other Income Expense Interest Expense	$317.7M
Other Income Expense Income Before Tax	$2.7B
Income Tax Income Tax Expense	$444.8M
net Income Other Items Below Tax	$-757.6M
net Income net Income	$2.3B
net Income Comprehensive Income	$2.3B
Earnings Per Share Basic Eps	$5
Earnings Per Share Diluted Eps	$5
Earnings Per Share Weighted Average Shares Diluted	$496.7M

Cash Flow Statement

Operating, investing, and financing flows

21 accounts · 1 year

Operating cash flow $4.8B

Investing cash flow $-1.3B

Financing cash flow $-3.0B

Account	2025	Trend
CashFlow
Operating Activities net Income	$2.3B
Operating Activities Depreciation and Amortization	$2.0B
Operating Activities Stock Based Compensation	$321.6M
Operating Activities Deferred Income Taxes	$-246.6M
Operating Activities Changes In Operating Assets and Liabilities	$481.0M
Operating Activities Other Non Cash Items	$-9.9M
Operating Activities net Cash From Operating Activities	$4.8B
Investing Activities Capital Expenditures	$-533.6M
Investing Activities Business Acquisitions	$-45.7M
Investing Activities Purchases of Investments	$-1.2B
Investing Activities Proceeds From Sale of Investments	$372.8M
Investing Activities Other Investing Activities	$35.1M
Investing Activities net Cash From Investing Activities	$-1.3B
Financing Activities Proceeds From Debt	$11.0B
Financing Activities Repayment of Debt	$-10.0B
Financing Activities Repurchase of Common Stock	$-2.2B
Financing Activities Dividends Paid	$-1.9B
Financing Activities Proceeds From Stock Issuance	$108.9M
Financing Activities Other Financing Activities	$7.8M
Financing Activities net Cash From Financing Activities	$-3.0B
Cash Reconciliation net Change In Cash	$508.1M

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 1 year

Ratio	2025
Profitability
Gross margin	+61.5%
Operating margin	+26.6%
Net margin	+20.6%
FCF margin	+38.8%
Growth
Revenue CAGR (3y)	-2.8%
Returns
ROE	+6.7%
ROA	+4.7%
ROIC	+6.1%
Liquidity
Current ratio	2.19x
Quick ratio	1.21x
Leverage
D/E	0.42x
Interest coverage	9.23x
Efficiency
Asset turnover	0.23x
Cash conversion cycle	+143d

Valuation

Price against fundamentals

ADI $245 · 2025-09-29 · 397d old · FY2025

Market cap $121.6B

P/E 53.63x

P/S 11.03x

P/B 3.60x

EV $127.7B

EV/EBITDA —

FCF yield +3.5%

Dividend yield +1.6%

Notes

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