Analog Devices (ADI) Financials

$415.65 +10.88 (+2.69%)

Closing price 03:59 PM Eastern

Extended Trading

$416.38 +0.72 (+0.17%)

As of 07:58 PM Eastern

Annual Income Statements for Analog Devices

This table shows Analog Devices' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	10/31/2015	10/29/2016	10/28/2017	11/3/2018	11/2/2019	10/31/2020	10/30/2021	10/29/2022	10/28/2023	11/2/2024	11/1/2025
Net Income / (Loss) Attributable to Common Shareholders	697	862	805	1,507	1,363	1,221	1,390	2,749	3,315	1,635	2,267
Consolidated Net Income / (Loss)	697	862	805	1,507	1,363	1,221	1,390	2,749	3,315	1,635	2,267
Net Income / (Loss) Continuing Operations	697	862	805	1,507	1,363	1,221	1,390	2,749	3,315	1,635	2,267
Total Pre-Tax Income	810	957	935	1,655	1,486	1,312	1,329	3,099	3,608	1,777	2,712
Total Operating Income	831	1,028	1,163	1,900	1,711	1,498	1,692	3,279	3,823	2,033	2,932
Total Gross Profit	2,259	2,227	3,168	4,250	4,014	3,690	4,525	7,532	7,877	5,381	6,773
Total Revenue	3,435	3,421	5,246	6,225	5,991	5,603	7,318	12,014	12,306	9,427	11,020
Operating Revenue	3,435	3,421	5,246	6,225	5,991	5,603	7,318	12,014	12,306	9,427	11,020
Total Cost of Revenue	1,176	1,194	2,078	1,974	1,977	1,913	2,793	4,481	4,428	4,046	4,246
Operating Cost of Revenue	1,176	1,194	2,078	1,974	1,977	1,913	2,793	4,481	4,428	4,046	4,246
Total Operating Expenses	1,428	1,199	2,005	2,351	2,303	2,192	2,833	4,254	4,054	3,349	3,841
Selling, General & Admin Expense	703	461	691	696	648	660	915	1,266	1,274	1,069	1,255
Research & Development Expense	637	654	968	1,165	1,130	1,051	1,296	1,701	1,660	1,488	1,766
Amortization Expense	88	70	297	429	429	429	537	1,013	960	755	750
Restructuring Charge	0.00	14	49	61	96	52	84	275	161	37	70
Total Other Income / (Expense), net	-21	-71	-228	-244	-225	-187	-363	-180	-215	-255	-220
Interest Expense	27	89	251	254	229	193	400	200	265	322	318
Interest & Investment Income	8.63	21	30	9.38	10	4.31	1.22	6.91	41	79	105
Other Income / (Expense), net	-2.32	-3.66	-7.51	-0.07	-6.03	2.37	35	14	8.25	-12	-7.93
Income Tax Expense	113	95	129	148	123	91	-62	350	293	142	445
Basic Earnings per Share	$2.23	$2.79	-	-	-	$3.31	$3.50	$5.29	$6.60	$3.30	$4.59
Weighted Average Basic Shares Outstanding	312.66M	308.74M	346.37M	370.43M	369.13M	368.63M	397.46M	519.23M	502.23M	496.17M	494.38M
Diluted Earnings per Share	$2.20	$2.76	-	$4.00	-	$3.28	$3.46	$5.25	$6.55	$3.28	$4.56
Weighted Average Diluted Shares Outstanding	316.87M	312.31M	350.48M	374.94M	372.87M	371.97M	401.29M	523.18M	505.96M	498.70M	496.71M
Weighted Average Basic & Diluted Shares Outstanding	312.06M	308.17M	368.64M	370.16M	368.30M	369.48M	525.33M	509.30M	496.26M	496.30M	489.65M
Cash Dividends to Common per Share	$1.57	$1.66	$1.77	$1.89	$2.10	$2.40	$2.69	$2.97	$3.34	$3.62	$3.89

This table shows Analog Devices' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	7/29/2023	10/28/2023	2/3/2024	5/4/2024	8/3/2024	11/2/2024	2/1/2025	5/3/2025	8/2/2025	11/1/2025	1/31/2026
Net Income / (Loss) Attributable to Common Shareholders	877	498	463	302	392	478	391	570	519	788	831
Consolidated Net Income / (Loss)	877	498	463	302	392	478	391	570	519	788	831
Net Income / (Loss) Continuing Operations	877	498	463	302	392	478	391	570	519	788	831
Total Pre-Tax Income	875	572	513	325	423	516	436	626	763	887	946
Total Operating Income	929	634	586	386	491	569	491	678	818	945	997
Total Gross Profit	1,962	1,647	1,474	1,180	1,311	1,416	1,430	1,612	1,790	1,942	2,045
Total Revenue	3,076	2,716	2,513	2,159	2,312	2,443	2,423	2,640	2,880	3,076	3,160
Operating Revenue	3,076	2,716	2,513	2,159	2,312	2,443	2,423	2,640	2,880	3,076	3,160
Total Cost of Revenue	1,115	1,070	1,039	979	1,001	1,027	993	1,028	1,091	1,134	1,115
Operating Cost of Revenue	1,115	1,070	1,039	979	1,001	1,027	993	1,028	1,091	1,134	1,115
Total Operating Expenses	1,032	1,012	888	794	820	847	939	934	972	997	1,048
Selling, General & Admin Expense	334	289	290	244	257	277	285	303	326	342	345
Research & Development Expense	424	407	391	355	363	379	403	442	454	467	467
Amortization Expense	251	203	190	189	188	188	187	187	187	187	187
Restructuring Charge	24	114	16	5.98	12	2.86	64	1.75	4.35	-	48
Total Other Income / (Expense), net	-55	-63	-73	-62	-68	-53	-56	-52	-55	-58	-51
Interest Expense	69	72	77	77	85	83	75	75	80	88	86
Interest & Investment Income	8.79	9.09	9.17	15	26	28	23	22	27	33	32
Other Income / (Expense), net	5.88	-0.13	-4.57	0.31	-9.58	1.79	-3.96	0.96	-2.11	-2.83	2.93
Income Tax Expense	-2.20	73	51	22	31	38	44	56	245	99	115
Basic Earnings per Share	$1.75	$1.01	$0.93	$0.61	$0.79	$0.97	$0.79	$1.15	$1.05	$1.60	$1.70
Weighted Average Basic Shares Outstanding	500.02M	502.23M	495.77M	496.13M	496.34M	496.17M	496.12M	496.17M	494.39M	494.38M	488.87M
Diluted Earnings per Share	$1.74	$1.01	$0.93	$0.61	$0.79	$0.95	$0.78	$1.14	$1.04	$1.60	$1.69
Weighted Average Diluted Shares Outstanding	503.50M	505.96M	498.74M	498.53M	498.79M	498.70M	498.67M	498.20M	496.73M	496.71M	491.66M
Weighted Average Basic & Diluted Shares Outstanding	498.31M	496.26M	495.91M	496.22M	496.49M	496.30M	495.98M	496.25M	491.96M	489.65M	488.20M
Cash Dividends to Common per Share	$0.86	-	$0.86	$0.92	-	-	$0.92	$0.99	-	-	$0.99

This table details how cash moves in and out of Analog Devices' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	10/31/2015	10/29/2016	10/28/2017	11/3/2018	11/2/2019	10/31/2020	10/30/2021	10/29/2022	10/28/2023	11/2/2024	11/1/2025
Net Change in Cash & Equivalents	315	37	127	-231	-167	408	922	-507	-513	1,033	508
Net Cash From Operating Activities	908	1,291	1,154	2,442	2,253	2,008	2,735	4,475	4,818	3,853	4,812
Net Cash From Continuing Operating Activities	908	1,291	1,154	2,442	2,253	2,008	2,735	4,475	4,818	3,853	4,812
Net Income / (Loss) Continuing Operations	697	862	805	1,507	1,363	1,221	1,390	2,749	3,315	1,635	2,267
Consolidated Net Income / (Loss)	697	862	805	1,507	1,363	1,221	1,390	2,749	3,315	1,635	2,267
Depreciation Expense	130	135	195	229	241	234	231	283	335	363	407
Amortization Expense	92	75	389	571	571	577	843	2,014	1,958	1,742	1,592
Non-Cash Adjustments To Reconcile Net Income	51	91	452	188	205	-63	785	640	308	286	312
Changes in Operating Assets and Liabilities, net	-62	129	-687	-51	-127	39	-515	-1,210	-1,099	-173	234
Net Cash From Investing Activities	-17	-1,218	-6,618	-314	-293	-181	2,144	-657	-1,266	-1,105	-1,322
Net Cash From Continuing Investing Activities	-17	-1,218	-6,618	-314	-293	-181	2,144	-657	-1,266	-1,105	-1,322
Purchase of Property, Plant & Equipment	-154	-127	-204	-255	-275	-166	-344	-699	-1,261	-730	-534
Acquisitions	-7.07	-83	-9,633	-53	-11	0.00	2,451	-	0.00	0.00	-46
Purchase of Investments	-6,084	-7,697	-705	-	-	-	-	0.00	0.00	-439	-1,150
Sale of Property, Plant & Equipment	-	-	-	-	0.00	-	-	-	0.00	0.00	59
Sale and/or Maturity of Investments	6,236	6,708	3,940	-	-	-	-	0.00	0.00	69	373
Other Investing Activities, net	-8.28	-19	-16	-6.28	-6.64	-15	37	42	-4.92	-4.77	-24
Net Cash From Financing Activities	-572	-33	5,587	-2,358	-2,127	-1,421	-3,960	-4,291	-4,064	-1,714	-2,983
Net Cash From Continuing Financing Activities	-572	-33	5,587	-2,358	-2,127	-1,421	-3,960	-4,291	-4,064	-1,714	-2,983
Repayment of Debt	0.50	-412	-5,058	-2,275	-2,178	-1,104	-3,995	-899	-4,826	-10,697	-9,956
Repurchase of Common Equity	-227	-370	-47	-226	-613	-244	-2,605	-2,577	-2,964	-616	-2,165
Payment of Dividends	-491	-513	-602	-703	-777	-886	-1,109	-1,545	-1,679	-1,795	-1,924
Issuance of Debt	0.00	1,235	11,156	747	1,325	746	4,340	696	5,287	11,272	10,953
Issuance of Common Equity	123	61	133	99	117	68	63	34	119	121	109

This table details how cash moves in and out of Analog Devices' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	7/29/2023	10/28/2023	2/3/2024	5/4/2024	8/3/2024	11/2/2024	2/1/2025	5/3/2025	8/2/2025	11/1/2025	1/31/2026
Net Change in Cash & Equivalents	-28	-191	345	636	166	-115	359	26	-55	178	406
Net Cash From Operating Activities	1,142	1,187	1,139	808	855	1,051	1,127	819	1,165	1,701	1,369
Net Cash From Continuing Operating Activities	1,142	1,187	1,139	808	855	1,051	1,127	819	1,165	1,701	1,369
Net Income / (Loss) Continuing Operations	877	498	463	302	392	478	391	570	519	788	831
Consolidated Net Income / (Loss)	877	498	463	302	392	478	391	570	519	788	831
Depreciation Expense	86	83	84	89	92	97	98	100	103	105	106
Amortization Expense	501	453	441	439	438	423	417	400	385	390	385
Non-Cash Adjustments To Reconcile Net Income	99	62	74	67	75	70	77	78	79	78	99
Changes in Operating Assets and Liabilities, net	-422	91	76	-90	-142	-17	143	-329	80	340	-52
Net Cash From Investing Activities	-327	-479	-219	-602	-172	-112	-194	328	-1,230	-225	-107
Net Cash From Continuing Investing Activities	-327	-479	-219	-602	-172	-112	-194	328	-1,230	-225	-107
Purchase of Property, Plant & Equipment	-325	-476	-223	-188	-154	-165	-149	-90	-79	-215	-109
Acquisitions	-	-	0.00	-	-	-	-46	-	-	-	0.00
Sale and/or Maturity of Investments	-	-	-	-	-	-	0.00	-	-	-	9.99
Other Investing Activities, net	-2.17	-2.67	3.88	10	-3.40	-15	0.33	-13	-0.72	-10	-7.71
Net Cash From Financing Activities	-844	-899	-574	430	-517	-1,054	-574	-1,121	9.96	-1,297	-855
Net Cash From Continuing Financing Activities	-844	-899	-574	430	-517	-1,054	-574	-1,121	9.96	-1,297	-855
Repayment of Debt	-2,166	-2,648	-2,797	-2,597	-2,320	-2,982	-1,968	-2,749	-2,509	-2,730	-2,951
Repurchase of Common Equity	-687	-470	-180	-222	-118	-95	-160	-249	-1,075	-680	-516
Payment of Dividends	-430	-428	-426	-456	-456	-457	-456	-491	-490	-487	-484
Issuance of Debt	2,393	2,641	2,779	3,692	2,326	2,475	1,969	2,347	4,042	2,595	3,047
Issuance of Common Equity	46	5.61	50	15	52	4.86	42	20	43	4.58	50

This table presents Analog Devices' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	10/31/2015	10/29/2016	10/28/2017	11/3/2018	11/2/2019	10/31/2020	10/30/2021	10/29/2022	10/28/2023	11/2/2024	11/1/2025
Total Assets	7,059	7,970	21,141	20,438	21,393	21,469	52,322	50,302	48,794	48,228	47,993
Total Current Assets	4,080	4,975	2,351	2,112	1,985	2,518	5,378	4,938	4,384	5,485	7,108
Cash & Equivalents	884	921	1,048	817	648	1,056	1,978	1,471	958	1,991	2,499
Short-Term Investments	2,145	3,135	-	-	-	-	-	-	0.00	372	1,153
Accounts Receivable	467	478	689	640	635	738	1,459	1,800	1,470	1,336	1,436
Inventories, net	412	377	551	587	610	608	1,201	1,400	1,642	1,448	1,656
Prepaid Expenses	41	59	60	69	92	116	741	267	314	337	363
Plant, Property, & Equipment, net	644	636	1,107	1,154	1,220	1,121	1,979	2,401	3,219	3,416	3,316
Total Noncurrent Assets	2,335	2,359	17,683	17,172	18,188	17,518	44,965	42,963	41,191	39,328	37,569
Goodwill	1,637	1,679	12,217	12,253	12,257	12,278	26,918	26,913	26,913	26,910	26,945
Intangible Assets	584	549	5,319	4,778	4,217	3,650	15,267	13,265	11,312	9,585	8,014
Noncurrent Deferred & Refundable Income Taxes	33	36	32	9.67	1,582	1,503	2,267	2,265	2,223	2,084	1,867
Other Noncurrent Operating Assets	41	47	56	63	54	-	384	520	743	749	743
Total Liabilities & Shareholders' Equity	7,059	7,970	21,141	20,438	21,393	21,469	52,322	50,302	48,794	48,228	47,993
Total Liabilities	1,986	2,805	10,980	9,170	9,683	9,471	14,330	13,837	13,229	13,052	14,177
Total Current Liabilities	1,114	783	1,596	1,052	1,509	1,365	2,770	2,443	3,201	2,988	3,246
Short-Term Debt	375	0.00	300	67	300	-	517	0.00	1,046	947	447
Accounts Payable	174	171	237	261	225	227	443	582	493	487	544
Accrued Expenses	250	256	499	630	796	956	1,478	1,595	1,353	1,106	1,645
Current Deferred & Payable Income Tax Liabilities	15	4.10	87	94	188	182	333	266	309	447	610
Total Noncurrent Liabilities	872	2,022	9,383	8,118	8,175	8,106	11,559	11,394	10,028	10,064	10,931
Long-Term Debt	495	1,732	7,551	6,266	5,192	5,145	6,253	6,549	5,902	6,634	8,145
Noncurrent Deferred Revenue	-	-	-	-	-	-	811	708	417	260	101
Noncurrent Deferred & Payable Income Tax Liabilities	227	110	1,724	1,701	2,743	2,511	3,939	3,623	3,128	2,624	2,163
Other Noncurrent Operating Liabilities	126	153	76	112	240	449	556	515	581	544	522
Total Equity & Noncontrolling Interests	5,073	5,166	10,162	11,268	11,709	11,998	37,993	36,465	35,565	35,176	33,816
Total Preferred & Common Equity	5,073	5,166	10,162	11,268	11,709	11,998	37,993	36,465	35,565	35,176	33,816
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	5,070	5,166	10,162	11,268	11,709	11,998	37,993	36,465	35,565	35,176	33,816
Common Stock	686	454	5,312	5,344	4,998	5,011	30,662	27,942	25,397	25,165	23,431
Retained Earnings	4,437	4,786	4,911	5,983	6,899	7,236	7,517	8,721	10,357	10,197	10,540
Accumulated Other Comprehensive Income / (Loss)	-51	-74	-61	-58	-188	-249	-187	-198	-188	-185	-155

This table presents Analog Devices' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	4/29/2023	7/29/2023	10/28/2023	2/3/2024	5/4/2024	8/3/2024	11/2/2024	2/1/2025	5/3/2025	8/2/2025	1/31/2026
Total Assets	49,545	49,347	48,794	48,388	48,862	48,618	48,228	47,968	47,344	48,193	47,991
Total Current Assets	4,745	4,835	4,384	4,416	5,194	5,443	5,485	5,733	5,589	6,925	7,603
Cash & Equivalents	1,178	1,149	958	1,304	1,940	2,106	1,991	2,350	2,376	2,321	2,906
Short-Term Investments	-	-	0.00	-	424	440	372	371	0.00	1,148	1,143
Accounts Receivable	1,616	1,616	1,470	1,197	1,005	1,127	1,336	1,192	1,382	1,553	1,360
Inventories, net	1,648	1,709	1,642	1,553	1,479	1,428	1,448	1,475	1,525	1,597	1,767
Prepaid Expenses	303	360	314	362	346	342	337	345	305	305	426
Plant, Property, & Equipment, net	2,742	2,923	3,219	3,282	3,415	3,396	3,416	3,355	3,336	3,299	3,249
Total Noncurrent Assets	42,058	41,589	41,191	40,691	40,253	39,780	39,328	38,879	38,420	37,969	37,140
Goodwill	26,913	26,913	26,913	26,913	26,910	26,910	26,910	26,945	26,945	26,945	26,945
Intangible Assets	12,262	11,763	11,312	10,871	10,435	9,998	9,585	9,183	8,787	8,403	7,629
Noncurrent Deferred & Refundable Income Taxes	2,249	2,225	2,223	2,172	2,146	2,105	2,084	2,033	1,986	1,925	1,760
Other Noncurrent Operating Assets	634	688	743	734	762	767	749	718	702	696	806
Total Liabilities & Shareholders' Equity	49,545	49,347	48,794	48,388	48,862	48,618	48,228	47,968	47,344	48,193	47,991
Total Liabilities	13,532	13,443	13,229	12,840	13,613	13,428	13,052	12,897	12,334	14,107	14,204
Total Current Liabilities	2,646	2,831	3,201	2,923	3,297	3,227	2,988	2,971	2,691	2,979	4,331
Short-Term Debt	254	545	1,046	1,044	1,447	1,447	947	948	549	549	1,442
Accounts Payable	569	586	493	398	423	425	487	369	429	491	549
Accrued Expenses	1,515	1,277	1,353	1,071	1,067	957	1,106	1,166	1,354	1,465	1,584
Current Deferred & Payable Income Tax Liabilities	309	423	309	410	361	398	447	487	359	475	756
Total Noncurrent Liabilities	10,885	10,612	10,028	9,917	10,316	10,202	10,064	9,926	9,643	11,128	9,873
Long-Term Debt	6,476	6,438	5,902	5,947	6,612	6,656	6,634	6,619	6,648	8,140	7,240
Noncurrent Deferred Revenue	524	441	417	416	267	266	260	262	96	100	104
Noncurrent Deferred & Payable Income Tax Liabilities	3,325	3,151	3,128	2,976	2,888	2,743	2,624	2,515	2,380	2,372	1,996
Other Noncurrent Operating Liabilities	560	582	581	579	549	537	544	531	519	516	534
Total Equity & Noncontrolling Interests	36,013	35,904	35,565	35,548	35,249	35,190	35,176	35,071	35,011	34,086	33,787
Total Preferred & Common Equity	36,013	35,904	35,565	35,548	35,249	35,190	35,176	35,071	35,011	34,086	33,787
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	36,013	35,904	35,565	35,548	35,249	35,190	35,176	35,071	35,011	34,086	33,787
Common Stock	26,346	25,788	25,397	25,336	25,186	25,185	25,165	25,124	24,968	24,020	23,050
Retained Earnings	9,840	10,286	10,357	10,393	10,240	10,175	10,197	10,132	10,210	10,239	10,886
Accumulated Other Comprehensive Income / (Loss)	-172	-171	-188	-181	-177	-170	-185	-185	-168	-173	-148

This table displays calculated financial ratios and metrics derived from Analog Devices' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	10/31/2015	10/29/2016	10/28/2017	11/3/2018	11/2/2019	10/31/2020	10/30/2021	10/29/2022	10/28/2023	11/2/2024	11/1/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	19.91%	-0.40%	53.34%	18.65%	-3.75%	-6.48%	30.61%	64.16%	2.43%	-23.39%	16.89%
EBITDA Growth	17.54%	17.46%	40.92%	55.15%	-6.77%	-8.12%	21.22%	99.48%	9.57%	-32.65%	19.35%
EBIT Growth	10.18%	23.65%	12.77%	64.42%	-10.26%	-11.97%	15.12%	90.58%	16.38%	-47.26%	44.73%
NOPAT Growth	10.08%	29.53%	8.22%	72.62%	-9.25%	-11.14%	26.99%	64.23%	20.77%	-46.75%	31.08%
Net Income Growth	10.74%	23.65%	-6.53%	87.11%	-9.55%	-10.44%	13.90%	97.68%	20.59%	-50.66%	38.65%
EPS Growth	0.00%	25.45%	0.00%	0.00%	0.00%	0.00%	5.49%	51.73%	24.76%	-49.92%	39.02%
Operating Cash Flow Growth	4.15%	42.25%	-10.61%	111.58%	-7.75%	-10.86%	36.18%	63.63%	7.65%	-20.03%	24.91%
Free Cash Flow Firm Growth	148.37%	76.12%	-1,408.94%	114.59%	-3.37%	17.95%	-1,255.14%	115.96%	-12.97%	-13.39%	34.97%
Invested Capital Growth	5.30%	-2.64%	500.69%	-1.09%	-1.67%	-4.78%	171.90%	-2.61%	0.03%	-2.79%	-4.06%
Revenue Q/Q Growth	5.03%	0.73%	14.80%	-2.26%	-1.53%	1.51%	12.50%	8.18%	-4.14%	-2.82%	6.09%
EBITDA Q/Q Growth	-4.52%	25.23%	23.42%	-2.60%	-4.74%	5.76%	-2.62%	23.72%	-7.46%	-1.87%	7.56%
EBIT Q/Q Growth	-5.00%	31.60%	20.18%	-4.21%	-7.04%	9.39%	-16.94%	42.27%	-10.66%	-3.03%	14.54%
NOPAT Q/Q Growth	-2.47%	32.42%	18.47%	-1.34%	-7.94%	7.82%	-3.65%	28.26%	-10.91%	-1.30%	14.68%
Net Income Q/Q Growth	-1.75%	30.20%	19.18%	-1.37%	-8.53%	9.79%	-18.27%	45.58%	-11.67%	-1.23%	15.82%
EPS Q/Q Growth	746.15%	30.81%	0.00%	0.00%	0.00%	0.00%	-24.29%	54.87%	-10.64%	-1.80%	16.62%
Operating Cash Flow Q/Q Growth	-6.61%	30.19%	15.51%	2.60%	-2.45%	0.74%	10.87%	4.89%	0.79%	-3.42%	15.62%
Free Cash Flow Firm Q/Q Growth	-32.39%	57.21%	2.51%	-17.76%	25.04%	12.92%	-1,241.21%	117.28%	-2.03%	5.07%	14.30%
Invested Capital Q/Q Growth	2.63%	-2.21%	-1.42%	0.87%	-2.14%	-3.14%	169.51%	0.43%	-0.43%	-0.86%	-1.40%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	65.77%	65.10%	60.39%	68.28%	67.00%	65.87%	61.83%	62.70%	64.01%	57.08%	61.47%
EBITDA Margin	30.59%	36.07%	33.15%	43.35%	41.99%	41.26%	38.29%	46.53%	49.77%	43.76%	44.68%
Operating Margin	24.19%	30.05%	22.16%	30.52%	28.55%	26.74%	23.12%	27.29%	31.07%	21.56%	26.61%
EBIT Margin	24.12%	29.94%	22.02%	30.52%	28.45%	26.78%	23.60%	27.40%	31.14%	21.44%	26.54%
Profit (Net Income) Margin	20.29%	25.18%	15.35%	24.21%	22.75%	21.79%	19.00%	22.88%	26.94%	17.35%	20.58%
Tax Burden Percent	86.02%	90.05%	86.16%	91.04%	91.74%	93.07%	104.64%	88.70%	91.87%	92.01%	83.60%
Interest Burden Percent	97.78%	93.41%	80.91%	87.14%	87.16%	87.41%	76.92%	94.12%	94.17%	87.95%	92.74%
Effective Tax Rate	13.98%	9.95%	13.84%	8.96%	8.26%	6.93%	-4.64%	11.30%	8.13%	7.99%	16.40%
Return on Invested Capital (ROIC)	25.31%	32.39%	10.14%	10.26%	9.44%	8.67%	6.07%	6.91%	8.45%	4.56%	6.19%
ROIC Less NNEP Spread (ROIC-NNEP)	26.16%	35.22%	1.28%	6.64%	5.42%	4.56%	-3.04%	3.63%	4.88%	0.37%	2.57%
Return on Net Nonoperating Assets (RNNOA)	-11.13%	-15.56%	0.37%	3.80%	2.42%	1.63%	-0.51%	0.48%	0.75%	0.06%	0.38%
Return on Equity (ROE)	14.18%	16.83%	10.51%	14.06%	11.86%	10.30%	5.56%	7.38%	9.20%	4.62%	6.57%
Cash Return on Invested Capital (CROIC)	20.15%	35.06%	-132.77%	11.36%	11.13%	13.56%	-86.37%	9.55%	8.42%	7.40%	10.34%
Operating Return on Assets (OROA)	11.91%	13.63%	7.94%	9.14%	8.15%	7.00%	4.68%	6.42%	7.73%	4.17%	6.08%
Return on Assets (ROA)	10.01%	11.47%	5.53%	7.25%	6.52%	5.70%	3.77%	5.36%	6.69%	3.37%	4.71%
Return on Common Equity (ROCE)	14.17%	16.83%	10.51%	14.06%	11.86%	10.30%	5.56%	7.38%	9.20%	4.62%	6.57%
Return on Equity Simple (ROE_SIMPLE)	13.74%	16.68%	7.93%	13.37%	11.64%	10.17%	3.66%	7.54%	9.32%	4.65%	0.00%
Net Operating Profit after Tax (NOPAT)	715	926	1,002	1,729	1,569	1,394	1,771	2,908	3,512	1,870	2,452
NOPAT Margin	20.81%	27.06%	19.10%	27.78%	26.19%	24.89%	24.20%	24.21%	28.54%	19.84%	22.25%
Net Nonoperating Expense Percent (NNEP)	-0.85%	-2.84%	8.86%	3.63%	4.02%	4.11%	9.11%	3.28%	3.57%	4.19%	3.63%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	-	5.78%
Cost of Revenue to Revenue	34.23%	34.90%	39.61%	31.72%	33.00%	34.13%	38.17%	37.30%	35.99%	42.92%	38.53%
SG&A Expenses to Revenue	20.45%	13.49%	13.16%	11.17%	10.82%	11.78%	12.51%	10.54%	10.35%	11.34%	11.39%
R&D to Revenue	18.56%	19.11%	18.45%	18.72%	18.87%	18.75%	17.71%	14.15%	13.49%	15.78%	16.03%
Operating Expenses to Revenue	41.58%	35.05%	38.23%	37.77%	38.44%	39.13%	38.71%	35.41%	32.95%	35.52%	34.86%
Earnings before Interest and Taxes (EBIT)	829	1,024	1,155	1,900	1,705	1,501	1,727	3,292	3,831	2,021	2,925
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,051	1,234	1,739	2,699	2,516	2,312	2,802	5,590	6,124	4,125	4,923
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.11	3.25	2.90	2.58	3.16	3.41	1.60	1.97	2.21	3.18	3.41
Price to Tangible Book Value (P/TBV)	5.53	5.72	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	4.59	4.91	5.62	4.67	6.18	7.30	8.30	5.98	6.39	11.88	10.45
Price to Earnings (P/E)	22.61	19.49	36.60	19.28	27.15	33.51	43.70	26.16	23.73	68.46	50.80
Dividend Yield	3.86%	3.04%	2.21%	2.99%	2.10%	2.17%	1.63%	2.12%	2.12%	1.61%	1.66%
Earnings Yield	4.42%	5.13%	2.73%	5.19%	3.68%	2.98%	2.29%	3.82%	4.21%	1.46%	1.97%
Enterprise Value to Invested Capital (EV/IC)	4.69	5.12	2.14	2.06	2.54	2.86	1.53	1.85	2.04	2.90	3.10
Enterprise Value to Revenue (EV/Rev)	3.95	4.22	6.91	5.55	6.97	8.02	8.94	6.41	6.88	12.43	10.90
Enterprise Value to EBITDA (EV/EBITDA)	12.92	11.71	20.85	12.80	16.60	19.43	23.35	13.77	13.82	28.40	24.40
Enterprise Value to EBIT (EV/EBIT)	16.39	14.10	31.38	18.19	24.50	29.93	37.87	23.38	22.09	57.98	41.07
Enterprise Value to NOPAT (EV/NOPAT)	19.00	15.61	36.19	19.97	26.61	32.21	36.95	26.47	24.10	62.65	49.00
Enterprise Value to Operating Cash Flow (EV/OCF)	14.96	11.19	31.41	14.14	18.54	22.36	23.92	17.20	17.57	30.41	24.96
Enterprise Value to Free Cash Flow (EV/FCFF)	23.86	14.42	0.00	18.05	22.58	20.59	0.00	19.14	24.18	38.65	29.36
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.17	0.34	0.77	0.56	0.47	0.43	0.18	0.18	0.20	0.22	0.25
Long-Term Debt to Equity	0.10	0.34	0.74	0.56	0.44	0.43	0.16	0.18	0.17	0.19	0.24
Financial Leverage	-0.43	-0.44	0.29	0.57	0.45	0.36	0.17	0.13	0.15	0.16	0.15
Leverage Ratio	1.42	1.47	1.90	1.94	1.82	1.81	1.48	1.38	1.38	1.37	1.39
Compound Leverage Factor	1.38	1.37	1.54	1.69	1.59	1.58	1.14	1.30	1.30	1.21	1.29
Debt to Total Capital	14.64%	25.11%	43.59%	35.98%	31.93%	30.01%	15.12%	15.22%	16.34%	17.73%	20.26%
Short-Term Debt to Total Capital	6.30%	0.00%	1.67%	0.38%	1.74%	0.00%	1.15%	0.00%	2.46%	2.22%	1.05%
Long-Term Debt to Total Capital	8.34%	25.11%	41.92%	35.60%	30.19%	30.01%	13.97%	15.22%	13.88%	15.52%	19.21%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	85.31%	74.89%	56.41%	64.02%	68.07%	69.99%	84.88%	84.78%	83.66%	82.27%	79.74%
Debt to EBITDA	0.83	1.40	4.51	2.35	2.18	2.23	2.42	1.17	1.13	1.84	1.75
Net Debt to EBITDA	-2.07	-1.90	3.90	2.03	1.89	1.73	1.66	0.91	0.98	1.27	1.00
Long-Term Debt to EBITDA	0.47	1.40	4.34	2.32	2.06	2.23	2.23	1.17	0.96	1.61	1.65
Debt to NOPAT	1.22	1.87	7.84	3.66	3.50	3.69	3.82	2.25	1.98	4.05	3.50
Net Debt to NOPAT	-3.05	-2.53	6.77	3.17	3.04	2.87	2.63	1.75	1.71	2.79	2.01
Long-Term Debt to NOPAT	0.69	1.87	7.54	3.62	3.31	3.69	3.53	2.25	1.68	3.55	3.32
Altman Z-Score	7.02	5.92	2.41	2.98	3.31	3.62	3.05	3.87	4.40	5.84	5.71
Noncontrolling Interest Sharing Ratio	0.06%	0.03%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.66	6.35	1.47	2.01	1.32	1.84	1.94	2.02	1.37	1.84	2.19
Quick Ratio	3.14	5.79	1.09	1.38	0.85	1.31	1.24	1.34	0.76	1.24	1.57
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	569	1,002	-13,118	1,914	1,849	2,181	-25,197	4,021	3,500	3,031	4,091
Operating Cash Flow to CapEx	589.63%	1,013.64%	565.59%	958.25%	818.20%	1,212.18%	795.83%	639.98%	381.91%	527.41%	1,013.82%
Free Cash Flow to Firm to Interest Expense	21.05	11.29	-52.30	7.55	8.07	11.28	-63.00	20.07	13.22	9.41	12.88
Operating Cash Flow to Interest Expense	33.58	14.55	4.60	9.63	9.84	10.39	6.84	22.33	18.20	11.96	15.15
Operating Cash Flow Less CapEx to Interest Expense	27.89	13.11	3.79	8.63	8.63	9.53	5.98	18.84	13.44	9.69	13.65
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.49	0.46	0.36	0.30	0.29	0.26	0.20	0.23	0.25	0.19	0.23
Accounts Receivable Turnover	7.96	7.25	8.99	9.37	9.40	8.16	6.66	7.37	7.53	6.72	7.95
Inventory Turnover	3.01	3.03	4.48	3.47	3.30	3.14	3.09	3.45	2.91	2.62	2.74
Fixed Asset Turnover	5.42	5.35	6.02	5.50	5.05	4.79	4.72	5.49	4.38	2.84	3.27
Accounts Payable Turnover	7.51	6.91	10.19	7.94	8.13	8.45	8.33	8.74	8.24	8.25	8.24
Days Sales Outstanding (DSO)	45.86	50.36	40.58	38.95	38.83	44.71	54.78	49.51	48.50	54.32	45.91
Days Inventory Outstanding (DIO)	121.10	120.55	81.44	105.16	110.45	116.24	118.18	105.90	125.37	139.38	133.41
Days Payable Outstanding (DPO)	48.61	52.83	35.84	45.99	44.87	43.18	43.82	41.77	44.31	44.23	44.32
Cash Conversion Cycle (CCC)	118.34	118.09	86.19	98.12	104.41	117.76	129.14	113.65	129.56	149.47	135.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,896	2,820	16,940	16,756	16,475	15,689	42,657	41,543	41,556	40,395	38,755
Invested Capital Turnover	1.22	1.20	0.53	0.37	0.36	0.35	0.25	0.29	0.30	0.23	0.28
Increase / (Decrease) in Invested Capital	146	-76	14,120	-184	-280	-787	26,968	-1,113	12	-1,161	-1,640
Enterprise Value (EV)	13,580	14,448	36,256	34,544	41,766	44,914	65,423	76,968	84,633	117,168	120,121
Market Capitalization	15,756	16,794	29,478	29,057	37,000	40,912	60,759	71,890	78,642	111,949	115,182
Book Value per Share	$16.16	$16.80	$27.64	$30.32	$31.70	$32.50	$103.18	$70.90	$71.37	$70.85	$68.74
Tangible Book Value per Share	$9.09	$9.55	($20.06)	($15.50)	($12.90)	($10.65)	($11.39)	($7.22)	($5.34)	($2.66)	($2.32)
Total Capital	5,943	6,898	18,013	17,601	17,201	17,143	44,762	43,014	42,514	42,758	42,407
Total Debt	870	1,732	7,851	6,333	5,492	5,145	6,770	6,549	6,949	7,582	8,592
Total Long-Term Debt	495	1,732	7,551	6,266	5,192	5,145	6,253	6,549	5,902	6,634	8,145
Net Debt	-2,176	-2,346	6,778	5,487	4,766	4,003	4,664	5,078	5,991	5,219	4,939
Capital Expenditures (CapEx)	154	127	204	255	275	166	344	699	1,261	730	475
Debt-free, Cash-free Net Working Capital (DFCFNWC)	312	136	7.17	311	128	97	1,147	1,025	1,271	1,081	657
Debt-free Net Working Capital (DFNWC)	3,341	4,192	1,055	1,127	776	1,153	3,125	2,495	2,229	3,444	4,309
Net Working Capital (NWC)	2,966	4,192	755	1,060	476	1,153	2,608	2,495	1,183	2,496	3,862
Net Nonoperating Expense (NNE)	18	64	196	222	206	174	380	160	198	235	184
Net Nonoperating Obligations (NNO)	-2,176	-2,346	6,778	5,487	4,766	3,691	4,664	5,078	5,991	5,219	4,939
Total Depreciation and Amortization (D&A)	222	210	584	799	811	811	1,075	2,297	2,293	2,104	1,999
Debt-free, Cash-free Net Working Capital to Revenue	9.07%	3.98%	0.14%	4.99%	2.13%	1.73%	15.67%	8.53%	10.33%	11.46%	5.96%
Debt-free Net Working Capital to Revenue	97.25%	122.52%	20.11%	18.11%	12.96%	20.57%	42.70%	20.77%	18.12%	36.53%	39.10%
Net Working Capital to Revenue	86.34%	122.52%	14.39%	17.04%	7.95%	20.57%	35.64%	20.77%	9.61%	26.48%	35.05%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$5.29	$6.60	$3.30	$4.59
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	0.00	0.00	369.13M	368.63M	397.46M	519.23M	502.23M	496.17M	494.38M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$5.25	$6.55	$3.28	$4.56
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	0.00	0.00	372.87M	371.97M	401.29M	523.18M	505.96M	498.70M	496.71M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	0.00	0.00	368.30M	369.48M	525.33M	509.30M	496.26M	496.30M	489.65M
Normalized Net Operating Profit after Tax (NOPAT)	715	938	1,044	1,785	1,657	1,443	1,244	3,152	3,660	1,905	2,510
Normalized NOPAT Margin	20.81%	27.42%	19.91%	28.68%	27.66%	25.76%	16.99%	26.23%	29.74%	20.20%	22.78%
Pre Tax Income Margin	23.58%	27.97%	17.82%	26.59%	24.80%	23.41%	18.16%	25.79%	29.32%	18.85%	24.61%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	30.65	11.54	4.61	7.49	7.44	7.76	4.32	16.43	14.48	6.27	9.21
NOPAT to Interest Expense	26.44	10.43	3.99	6.82	6.85	7.21	4.43	14.51	13.27	5.80	7.72
EBIT Less CapEx to Interest Expense	24.96	10.11	3.79	6.49	6.24	6.91	3.46	12.94	9.71	4.00	7.71
NOPAT Less CapEx to Interest Expense	20.75	9.00	3.18	5.81	5.65	6.36	3.57	11.02	8.50	3.54	6.22
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	70.47%	59.56%	74.76%	46.67%	57.04%	72.59%	79.78%	56.19%	50.66%	109.80%	84.88%
Augmented Payout Ratio	103.03%	102.50%	80.54%	61.67%	102.02%	92.62%	267.15%	149.95%	140.08%	147.44%	180.35%

This table displays calculated financial ratios and metrics derived from Analog Devices' official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	7/29/2023	10/28/2023	2/3/2024	5/4/2024	8/3/2024	11/2/2024	2/1/2025	5/3/2025	8/2/2025	11/1/2025	1/31/2026
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-1.07%	-16.36%	-22.68%	-33.83%	-24.84%	-10.06%	-3.56%	22.28%	24.57%	25.91%	30.42%
EBITDA Growth	3.17%	-29.66%	-35.31%	-46.83%	-33.55%	-6.73%	-9.37%	28.95%	28.77%	31.70%	48.61%
EBIT Growth	4.24%	-41.88%	-48.23%	-66.06%	-48.50%	-9.95%	-16.17%	75.68%	69.37%	64.99%	105.18%
NOPAT Growth	18.09%	-43.85%	-47.86%	-64.54%	-51.11%	-4.67%	-16.42%	71.65%	21.95%	59.19%	98.41%
Net Income Growth	17.09%	-46.76%	-51.87%	-69.09%	-55.28%	-4.08%	-15.43%	88.51%	32.20%	64.77%	112.32%
EPS Growth	20.83%	-43.58%	-50.53%	-68.23%	-54.60%	-5.94%	-16.13%	86.89%	31.65%	68.42%	116.67%
Operating Cash Flow Growth	-8.45%	3.30%	-19.02%	-25.31%	-25.16%	-11.49%	-1.06%	1.44%	36.27%	61.86%	21.45%
Free Cash Flow Firm Growth	102.27%	-74.23%	-53.48%	-7.86%	157.49%	212.27%	152.42%	76.32%	38.16%	46.84%	34.68%
Invested Capital Growth	0.90%	0.03%	-0.41%	-1.49%	-2.37%	-2.79%	-3.20%	-2.72%	-3.54%	-4.06%	-3.75%
Revenue Q/Q Growth	-5.71%	-11.70%	-7.50%	-14.08%	7.09%	5.67%	-0.82%	8.95%	9.10%	6.80%	2.74%
EBITDA Q/Q Growth	-11.47%	-23.15%	-5.45%	-17.34%	10.64%	7.87%	-8.12%	17.60%	10.49%	10.32%	3.67%
EBIT Q/Q Growth	-17.85%	-32.19%	-8.34%	-33.53%	24.66%	18.57%	-14.68%	39.30%	20.18%	15.50%	6.11%
NOPAT Q/Q Growth	-8.11%	-40.65%	-4.51%	-31.92%	26.72%	15.72%	-16.28%	39.81%	-9.97%	51.05%	4.35%
Net Income Q/Q Growth	-10.29%	-43.17%	-7.16%	-34.68%	29.77%	21.89%	-18.15%	45.60%	-9.00%	51.92%	5.47%
EPS Q/Q Growth	-9.38%	-41.95%	-7.92%	-34.41%	29.51%	20.25%	-17.89%	46.15%	-8.77%	53.85%	5.63%
Operating Cash Flow Q/Q Growth	5.63%	3.92%	-4.08%	-29.06%	5.84%	22.90%	7.23%	-27.27%	42.18%	45.98%	-19.54%
Free Cash Flow Firm Q/Q Growth	-47.25%	-3.71%	29.01%	40.62%	47.40%	16.78%	4.28%	-1.77%	15.50%	24.12%	-4.35%
Invested Capital Q/Q Growth	0.41%	-0.43%	-0.77%	-0.71%	-0.48%	-0.86%	-1.19%	-0.21%	-1.32%	-1.40%	-0.86%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	63.76%	60.62%	58.66%	54.66%	56.71%	57.96%	59.03%	61.04%	62.14%	63.13%	64.71%
EBITDA Margin	49.51%	43.09%	44.04%	42.37%	43.77%	44.68%	41.39%	44.68%	45.24%	46.74%	47.16%
Operating Margin	30.21%	23.35%	23.32%	17.88%	21.25%	23.31%	20.28%	25.68%	28.40%	30.73%	31.55%
EBIT Margin	30.40%	23.35%	23.14%	17.90%	20.83%	23.38%	20.11%	25.72%	28.33%	30.64%	31.64%
Profit (Net Income) Margin	28.51%	18.35%	18.42%	14.00%	16.96%	19.57%	16.15%	21.58%	18.00%	25.61%	26.29%
Tax Burden Percent	100.25%	87.17%	90.13%	93.11%	92.73%	92.59%	89.84%	91.03%	67.92%	88.79%	87.84%
Interest Burden Percent	93.53%	90.15%	88.31%	84.00%	87.81%	90.40%	89.38%	92.20%	93.56%	94.14%	94.59%
Effective Tax Rate	-0.25%	12.83%	9.87%	6.89%	7.27%	7.41%	10.16%	8.97%	32.08%	11.21%	12.16%
Return on Invested Capital (ROIC)	9.36%	6.03%	5.88%	4.22%	4.63%	4.96%	4.19%	5.68%	5.01%	7.60%	8.32%
ROIC Less NNEP Spread (ROIC-NNEP)	8.32%	5.04%	4.65%	3.21%	3.52%	4.09%	3.24%	4.78%	4.32%	6.58%	7.37%
Return on Net Nonoperating Assets (RNNOA)	1.21%	0.77%	0.68%	0.51%	0.56%	0.65%	0.48%	0.72%	0.67%	0.97%	1.01%
Return on Equity (ROE)	10.57%	6.80%	6.57%	4.73%	5.20%	5.61%	4.68%	6.40%	5.68%	8.57%	9.33%
Cash Return on Invested Capital (CROIC)	8.60%	8.42%	7.74%	7.27%	7.00%	7.40%	7.65%	7.81%	8.94%	10.34%	11.19%
Operating Return on Assets (OROA)	7.83%	5.80%	5.43%	3.81%	4.13%	4.54%	3.90%	5.25%	6.08%	7.02%	7.75%
Return on Assets (ROA)	7.34%	4.56%	4.32%	2.98%	3.36%	3.80%	3.13%	4.41%	3.86%	5.87%	6.44%
Return on Common Equity (ROCE)	10.57%	6.80%	6.57%	4.73%	5.20%	5.61%	4.68%	6.40%	5.68%	8.57%	9.33%
Return on Equity Simple (ROE_SIMPLE)	10.45%	0.00%	7.92%	6.07%	4.70%	0.00%	4.46%	5.23%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	932	553	528	360	456	527	441	617	556	839	876
NOPAT Margin	30.29%	20.36%	21.02%	16.65%	19.70%	21.58%	18.22%	23.38%	19.29%	27.28%	27.71%
Net Nonoperating Expense Percent (NNEP)	1.04%	0.99%	1.24%	1.02%	1.11%	0.88%	0.95%	0.90%	0.69%	1.01%	0.95%
Return On Investment Capital (ROIC_SIMPLE)	-	-	1.24%	-	-	-	1.04%	1.46%	1.30%	1.98%	2.06%
Cost of Revenue to Revenue	36.24%	39.38%	41.34%	45.34%	43.29%	42.04%	40.97%	38.96%	37.86%	36.87%	35.29%
SG&A Expenses to Revenue	10.86%	10.64%	11.54%	11.31%	11.12%	11.35%	11.75%	11.46%	11.31%	11.12%	10.92%
R&D to Revenue	13.77%	14.97%	15.58%	16.44%	15.69%	15.51%	16.63%	16.74%	15.77%	15.18%	14.79%
Operating Expenses to Revenue	33.55%	37.27%	35.34%	36.77%	35.46%	34.66%	38.75%	35.37%	33.74%	32.40%	33.16%
Earnings before Interest and Taxes (EBIT)	935	634	581	386	482	571	487	679	816	942	1,000
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,523	1,170	1,107	915	1,012	1,092	1,003	1,180	1,303	1,438	1,490
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.72	2.21	2.65	2.80	2.93	3.18	3.00	2.81	3.23	3.41	4.51
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	7.61	6.39	8.14	9.42	10.64	11.88	11.26	10.03	10.59	10.45	12.95
Price to Earnings (P/E)	26.04	23.73	33.43	46.07	62.33	68.46	67.24	53.78	56.20	50.80	56.24
Dividend Yield	1.66%	2.12%	1.82%	1.76%	1.71%	1.61%	1.74%	1.89%	1.72%	1.66%	1.27%
Earnings Yield	3.84%	4.21%	2.99%	2.17%	1.60%	1.46%	1.49%	1.86%	1.78%	1.97%	1.78%
Enterprise Value to Invested Capital (EV/IC)	2.48	2.04	2.42	2.55	2.67	2.90	2.76	2.59	2.93	3.10	4.08
Enterprise Value to Revenue (EV/Rev)	8.07	6.88	8.63	9.97	11.21	12.43	11.78	10.52	11.10	10.90	13.34
Enterprise Value to EBITDA (EV/EBITDA)	15.64	13.82	18.08	22.12	25.87	28.40	27.36	24.10	25.18	24.40	28.99
Enterprise Value to EBIT (EV/EBIT)	24.14	22.09	30.34	41.10	52.19	57.98	57.10	46.56	45.13	41.07	45.64
Enterprise Value to NOPAT (EV/NOPAT)	26.26	24.10	32.96	43.90	57.39	62.65	61.68	50.62	53.91	49.00	54.31
Enterprise Value to Operating Cash Flow (EV/OCF)	21.66	17.57	21.94	24.39	27.26	30.41	28.64	26.82	27.69	24.96	31.04
Enterprise Value to Free Cash Flow (EV/FCFF)	28.99	24.18	31.21	34.80	37.69	38.65	35.46	32.76	32.20	29.36	35.78
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.19	0.20	0.20	0.23	0.23	0.22	0.22	0.21	0.25	0.25	0.26
Long-Term Debt to Equity	0.18	0.17	0.17	0.19	0.19	0.19	0.19	0.19	0.24	0.24	0.21
Financial Leverage	0.15	0.15	0.15	0.16	0.16	0.16	0.15	0.15	0.16	0.15	0.14
Leverage Ratio	1.37	1.38	1.37	1.38	1.38	1.37	1.36	1.37	1.40	1.39	1.39
Compound Leverage Factor	1.29	1.24	1.21	1.16	1.21	1.24	1.22	1.26	1.31	1.31	1.32
Debt to Total Capital	16.28%	16.34%	16.43%	18.61%	18.72%	17.73%	17.75%	17.05%	20.31%	20.26%	20.44%
Short-Term Debt to Total Capital	1.27%	2.46%	2.45%	3.34%	3.34%	2.22%	2.22%	1.30%	1.28%	1.05%	3.40%
Long-Term Debt to Total Capital	15.01%	13.88%	13.98%	15.27%	15.37%	15.52%	15.52%	15.75%	19.03%	19.21%	17.05%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	83.72%	83.66%	83.57%	81.39%	81.28%	82.27%	82.25%	82.95%	79.69%	79.74%	79.56%
Debt to EBITDA	1.06	1.13	1.27	1.71	1.93	1.84	1.88	1.68	1.90	1.75	1.60
Net Debt to EBITDA	0.88	0.98	1.03	1.21	1.32	1.27	1.20	1.12	1.14	1.00	0.86
Long-Term Debt to EBITDA	0.97	0.96	1.08	1.40	1.58	1.61	1.65	1.55	1.78	1.65	1.34
Debt to NOPAT	1.77	1.98	2.31	3.39	4.28	4.05	4.24	3.53	4.06	3.50	3.01
Net Debt to NOPAT	1.48	1.71	1.88	2.40	2.93	2.79	2.72	2.36	2.44	2.01	1.60
Long-Term Debt to NOPAT	1.63	1.68	1.96	2.78	3.51	3.55	3.71	3.26	3.81	3.32	2.51
Altman Z-Score	5.02	4.19	5.01	4.93	5.19	5.74	5.49	5.42	5.35	5.57	7.14
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.71	1.37	1.51	1.58	1.69	1.84	1.93	2.08	2.32	2.19	1.76
Quick Ratio	0.98	0.76	0.86	1.02	1.14	1.24	1.32	1.40	1.69	1.57	1.25
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	561	541	697	981	1,446	1,688	1,760	1,729	1,997	2,479	2,371
Operating Cash Flow to CapEx	351.99%	249.23%	510.74%	429.28%	555.62%	635.28%	756.36%	907.83%	1,471.97%	790.51%	1,251.92%
Free Cash Flow to Firm to Interest Expense	8.10	7.55	9.04	12.72	16.97	20.39	23.39	23.15	25.09	28.12	27.46
Operating Cash Flow to Interest Expense	16.47	16.58	14.76	10.48	10.04	12.69	14.97	10.97	14.64	19.29	15.85
Operating Cash Flow Less CapEx to Interest Expense	11.79	9.93	11.87	8.04	8.23	10.69	12.99	9.76	13.64	16.85	14.58
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.26	0.25	0.23	0.21	0.20	0.19	0.19	0.20	0.21	0.23	0.25
Accounts Receivable Turnover	7.64	7.53	8.19	7.99	7.07	6.72	7.82	8.23	7.75	7.95	9.21
Inventory Turnover	3.06	2.91	2.82	2.69	2.61	2.62	2.64	2.70	2.74	2.74	2.70
Fixed Asset Turnover	5.03	4.38	3.98	3.40	3.07	2.84	2.81	2.91	3.10	3.27	3.56
Accounts Payable Turnover	7.90	8.24	9.31	8.48	8.09	8.25	10.43	9.50	9.04	8.24	9.52
Days Sales Outstanding (DSO)	47.75	48.50	44.59	45.71	51.61	54.32	46.70	44.37	47.10	45.91	39.62
Days Inventory Outstanding (DIO)	119.09	125.37	129.30	135.81	140.04	139.38	138.15	135.39	133.37	133.41	135.42
Days Payable Outstanding (DPO)	46.23	44.31	39.21	43.07	45.10	44.23	35.00	38.40	40.37	44.32	38.35
Cash Conversion Cycle (CCC)	120.62	129.56	134.68	138.45	146.55	149.47	149.85	141.35	140.10	135.00	136.70
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	41,737	41,556	41,235	40,944	40,747	40,395	39,916	39,832	39,305	38,755	38,421
Invested Capital Turnover	0.31	0.30	0.28	0.25	0.24	0.23	0.23	0.24	0.26	0.28	0.30
Increase / (Decrease) in Invested Capital	370	12	-169	-621	-990	-1,161	-1,319	-1,112	-1,442	-1,640	-1,495
Enterprise Value (EV)	103,539	84,633	99,816	104,301	108,750	117,168	110,006	103,317	115,243	120,121	156,857
Market Capitalization	97,705	78,642	94,129	98,606	103,193	111,949	105,160	98,496	110,023	115,182	152,224
Book Value per Share	$71.60	$71.37	$71.70	$71.08	$70.92	$70.85	$70.66	$70.59	$68.69	$68.74	$69.00
Tangible Book Value per Share	($5.53)	($5.34)	($4.51)	($4.23)	($3.46)	($2.66)	($2.13)	($1.46)	($2.54)	($2.32)	($1.61)
Total Capital	42,886	42,514	42,539	43,307	43,293	42,758	42,637	42,208	42,774	42,407	42,469
Total Debt	6,982	6,949	6,990	8,059	8,102	7,582	7,567	7,197	8,689	8,592	8,682
Total Long-Term Debt	6,438	5,902	5,947	6,612	6,656	6,634	6,619	6,648	8,140	8,145	7,240
Net Debt	5,833	5,991	5,687	5,695	5,557	5,219	4,845	4,821	5,219	4,939	4,633
Capital Expenditures (CapEx)	325	476	223	188	154	165	149	90	79	215	109
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,400	1,271	1,233	979	1,117	1,081	989	1,070	1,025	657	665
Debt-free Net Working Capital (DFNWC)	2,549	2,229	2,536	3,343	3,663	3,444	3,710	3,447	4,494	4,309	4,714
Net Working Capital (NWC)	2,004	1,183	1,493	1,896	2,216	2,496	2,762	2,898	3,946	3,862	3,272
Net Nonoperating Expense (NNE)	55	55	65	57	63	49	50	47	37	52	45
Net Nonoperating Obligations (NNO)	5,833	5,991	5,687	5,695	5,557	5,219	4,845	4,821	5,219	4,939	4,633
Total Depreciation and Amortization (D&A)	588	536	525	528	530	520	516	501	487	495	491
Debt-free, Cash-free Net Working Capital to Revenue	10.90%	10.33%	10.66%	9.36%	11.52%	11.46%	10.59%	10.90%	9.87%	5.96%	5.66%
Debt-free Net Working Capital to Revenue	19.86%	18.12%	21.92%	31.95%	37.76%	36.53%	39.74%	35.10%	43.27%	39.10%	40.09%
Net Working Capital to Revenue	15.61%	9.61%	12.90%	18.12%	22.85%	26.48%	29.58%	29.51%	37.99%	35.05%	27.83%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.75	$1.01	$0.93	$0.61	$0.79	$0.97	$0.79	$1.15	$1.05	$1.60	$1.70
Adjusted Weighted Average Basic Shares Outstanding	500.02M	502.23M	495.77M	496.13M	496.34M	496.17M	496.12M	496.17M	494.39M	494.38M	488.87M
Adjusted Diluted Earnings per Share	$1.74	$1.01	$0.93	$0.61	$0.79	$0.95	$0.78	$1.14	$1.04	$1.60	$1.69
Adjusted Weighted Average Diluted Shares Outstanding	503.50M	505.96M	498.74M	498.53M	498.79M	498.70M	498.67M	498.20M	496.73M	496.71M	491.66M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	498.31M	496.26M	495.91M	496.22M	496.49M	496.30M	495.98M	496.25M	491.96M	489.65M	488.20M
Normalized Net Operating Profit after Tax (NOPAT)	667	652	543	365	467	530	499	619	559	839	918
Normalized NOPAT Margin	21.68%	24.02%	21.60%	16.91%	20.20%	21.69%	20.58%	23.44%	19.39%	27.28%	29.05%
Pre Tax Income Margin	28.44%	21.05%	20.43%	15.03%	18.29%	21.13%	17.98%	23.71%	26.50%	28.84%	29.93%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	13.49	8.86	7.54	5.01	5.66	6.90	6.48	9.09	10.25	10.69	11.58
NOPAT to Interest Expense	13.44	7.72	6.85	4.66	5.35	6.37	5.86	8.26	6.98	9.52	10.14
EBIT Less CapEx to Interest Expense	8.81	2.21	4.65	2.57	3.85	4.90	4.50	7.88	9.26	8.25	10.32
NOPAT Less CapEx to Interest Expense	8.76	1.07	3.96	2.22	3.54	4.37	3.89	7.05	5.99	7.08	8.88
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	43.74%	50.66%	61.07%	81.32%	106.71%	109.80%	116.74%	101.60%	96.76%	84.88%	72.13%
Augmented Payout Ratio	132.01%	140.08%	149.49%	154.17%	166.54%	147.44%	154.83%	135.55%	177.42%	180.35%	165.25%

Financials Breakdown Chart

Key Financial Trends

Below is a concise, bullet-style trend summary of Analog Devices (NASDAQ: ADI) using the last four years of quarterly statements (2023–2026). The focus is on points that may matter to retail investors evaluating profitability, cash flow, and balance-sheet health.

Revenue momentum: Q1 2026 revenue was about $3.16B, up from roughly $3.08B in Q4 2025 (about 2–3% sequential growth).
Profitability remains solid: Q1 2026 gross margin is around 65% (Gross Profit ≈ $2.045B on ≈$3.16B revenue).
Net income and EPS improved: Q1 2026 net income ≈ $830.8M and diluted EPS ≈ $1.69, up from Q4 2025’s $1.60 EPS, signaling improving profitability.
Cash generation strong: Net cash from continuing operating activities ≈ $1.369B in Q1 2026, underscoring robust cash flow generation.
Free cash flow capacity: Roughly $1.26B of free cash flow in Q1 2026 (approx. $1.369B operating cash flow minus about $109M of CAPEX), suggesting excess cash after sustaining investments.
Liquidity position improving: Cash & equivalents around $2.9B in Q1 2026 provides solid liquidity for dividends, buybacks, and capex.
Dividend per share is rising: Cash dividends per share stood at $0.99 in Q1 2026, continuing a favorable payout trajectory for shareholders.
R&D and capex cadence remains steady: R&D expense around $467M per quarter (Q4 2025–Q1 2026) and CAPEX historically modest (roughly $80–$215M per quarter), indicating ongoing investment in core technology with predictable cash use.
Solid balance sheet framework: Total equity remains substantial (roughly in the mid- to high-$30B), with cash in the billions and a diversified asset base supporting ongoing operations.
Debt and financing pressure: Long-term debt remains meaningful (approximately $7.2B–$7.6B in recent quarters) and total liabilities sit around $14B+, implying a notable leverage position. Net financing cash flow has been negative in several quarters, reflecting debt activity and share buybacks, which could limit balance-sheet flexibility if earnings face pressure.

05/06/26 09:11 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Analog Devices' Financials

When does Analog Devices' financial year end?

According to the most recent income statement we have on file, Analog Devices' fiscal year ends in November. Their fiscal year 2025 ended on November 1, 2025.

How has Analog Devices' net income changed over the last 10 years?

Analog Devices' net income appears to be on an upward trend, with a most recent value of $2.27 billion in 2025, rising from $696.88 million in 2015. The previous period was $1.64 billion in 2024. See where experts think Analog Devices is headed by visiting Analog Devices' forecast page.

What is Analog Devices' operating income?

Analog Devices' total operating income in 2025 was $2.93 billion, based on the following breakdown:

Total Gross Profit: $6.77 billion
Total Operating Expenses: $3.84 billion

How has Analog Devices' revenue changed over the last 10 years?

Over the last 10 years, Analog Devices' total revenue changed from $3.44 billion in 2015 to $11.02 billion in 2025, a change of 220.8%.

How much debt does Analog Devices have?

Analog Devices' total liabilities were at $14.18 billion at the end of 2025, a 8.6% increase from 2024, and a 613.9% increase since 2015.

How much cash does Analog Devices have?

In the past 10 years, Analog Devices' cash and equivalents has ranged from $648.32 million in 2019 to $2.50 billion in 2025, and is currently $2.50 billion as of their latest financial filing in 2025.

How has Analog Devices' book value per share changed over the last 10 years?

Over the last 10 years, Analog Devices' book value per share changed from 16.16 in 2015 to 68.74 in 2025, a change of 325.3%.

Related Companies

Financial statements for NASDAQ:ADI last updated on 2/22/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Analog Devices (ADI) Financials

Financials Breakdown Chart

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Analog Devices (ADI) Financials

Annual Income Statements for Analog Devices

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Quarterly Cash Flow Statements for Analog Devices

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Quarterly Balance Sheets for Analog Devices

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Quarterly Metrics And Ratios for Analog Devices

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Key Financial Trends

Frequently Asked Questions About Analog Devices' Financials

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