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Analog DevicesADI

Legal name
Analog Devices, Inc.
Sector
Technology
Industry
Semiconductors & Related Devices
Exchange
Nasdaq

Stock Price $ADI

Latest filings

You are here#22 of 88 in Technology by market cap

Filing record · 2016–202610-K1010-Q338-K146

ADI filed 10 annual reports (10-K), 33 quarterly reports (10-Q) and 146 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Jul ’17Jul ’17
  2. Material agreement8-K · Jul ’19Jul ’19
  3. Material agreement8-K · Oct ’21Oct ’21
  4. FY2025 annual report10-K · Nov ’25Nov ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  19. $11.02B
YoY changeLargest recent move+64.2%in FY22Latest +16.9%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All ADI Financial Metrics61 metrics

Income Statement16

Balance Sheet25

Cash Flow15

Per Share5

02—Overview

Analog Devices Financial Overview 2021–2025

Updated Nov 3, 2026

Analog Devices engineered a massive operational rebound in FY2025, expanding its gross margin by 440 basis points to 61.5%a on the back of rising factory utilization. This sharp recovery demonstrates the company's pricing power and cements its central role in the industrial and automotive semiconductor supply chains. Despite intense industry cyclicality, ADI's strategic shift toward high-performance analog components and intelligent edge solutions is successfully insulating its core profitability.

The company has dramatically scaled its operations over the last five years, with total revenue growing from $7.32 billion in FY2021 to $11.02 billionb in FY2025. This trajectory was supercharged by the transformative $28 billion acquisition of Maxim Integrated in FY2021, which fundamentally expanded the company's product portfolio. By FY2025, the industrial segment anchored the business at 45% of total revenue, followed closely by the automotive sector at 30%.

Following a severe 23% top-line contraction in FY2024, ADI bounced back with a 17% revenue jump in FY2025, generating $4.81 billionc in robust operating cash flow. The market heavily rewarded this cycle-tested resilience. At the close of FY2025, ADI commanded a $114.6 billion market cap, with shares priced at $234.13 and trading at a premium 51.3x earnings multiple.

Recent Developments (Q1 and Q3 2026)

ADI's growth accelerated through fiscal 2026. Revenue rose 30% to $3.16 billiond in Q1, then 37% to $3.62 billion in Q2, and 40% to $4.02 billion in Q3. Communications grew 84% and Industrial 53% in Q3. GAAP gross margin reached 67.3%, and GAAP diluted EPS hit $2.74, up 163%. Automotive lagged, growing just 2% in Q2. Management guided Q4 revenue to $4.3 billion.

ADI is also deploying capital aggressively. It closed the $1.5 billione Empower Semiconductor deal, agreed to buy Alif Semiconductor for up to $1.55 billion, and issued $3.0 billion of senior notes. A June 2026 cybersecurity incident remains under investigation, though no material impact is expected.

Bull case: pricing power, expanding margins, and AI-driven power demand support further earnings gains. Bear case: shares traded at 81.9x earnings as of the Q3 report date (August 18, 2026), leaving little room for error, while new debt and acquisitions add integration and leverage risk.

What to watch: Alif deal closing and Q4 results against the $4.3 billion guide; cybersecurity investigation findings

03—Filings

Recent SEC Filings

  1. 8-KAnalog Devices 8-K Report, Material Agreement (Sep 17, 2026)Analog Devices Inc. (ADI) has announced a significant debt financing initiative, issuing a total of $3.0 billion in senior notes across four tranches with maturities ranging from September 2029 to October 2036. This issuance, comprising $500 million in 2029 Notes, $500 million in 2031 Notes, $1 billion in 2033 Notes, and $1 billion in 2036 Notes, indicates the company's strategy to secure long-term capital. The proceeds from this offering are intended to fund general corporate purposes, which could include potential acquisitions, capital expenditures, or working capital needs. The notes are unsecured and unsubordinated, ranking equally with other senior unsecured debt, and are not guaranteed by any subsidiaries. Investors should note the varying interest rates and redemption provisions associated with each note series, offering different risk-return profiles. The company has also provided details on early redemption options, including "Par Call" provisions, which allow for redemption at a premium or at par under specific conditions.
  2. 8-KAnalog Devices 8-K Report, Regulation FD Disclosure (Sep 9, 2026)Analog Devices (ADI) announced on September 9, 2026 a definitive agreement to acquire Alif Semiconductor, a provider of low-power microcontrollers and fusion processors with integrated AI/ML acceleration, in an all-cash transaction. ADI will pay $1.35 billion of upfront consideration to Alif's stockholders, plus up to $200 million of incremental contingent consideration. The deal has been approved by both companies' boards and is expected to close in the fourth quarter of calendar 2026, subject to customary conditions and expiration of the HSR Act waiting period. Strategically, the acquisition is positioned as a way to advance ADI's "Physical Intelligence" strategy, combining Alif's AI-native digital processing platform with ADI's analog, sensing, power, and connectivity portfolio. Management argues this broadens ADI's addressable market across industrial, data center infrastructure, defense, energy, robotics, digital health, and wearables by enabling more complete system-level solutions. Alif reports its silicon is already in production with design wins among leading consumer and industrial customers. The filing itself is limited: it is a Regulation FD disclosure furnished under Item 7.01, and the filing does not disclose Alif's revenue, profitability, or the expected accretion/dilution impact, nor the financing source for the cash payment. Investors should look to ADI's subsequent disclosures for these financial details, as well as the regulatory timeline and any antitrust review outcome.
  3. 8-KAnalog Devices 8-K Report, Financial Results (Aug 19, 2026)Analog Devices (ADI) reported record fiscal third-quarter 2026 results for the quarter ended August 1, 2026, with revenue of $4.02 billion, up 40% year over year. Growth was led by Communications (up 84%, largely Data Center) and Industrial (up 53%), while Automotive grew 16% and Consumer 6%. GAAP gross margin expanded to 67.3% (from 62.1%) and GAAP operating margin to 40.1% (from 28.4%). GAAP diluted EPS was $2.74 versus $1.04, and adjusted diluted EPS was $3.45 versus $2.05. Trailing-twelve-month operating cash flow of $5.5 billion and free cash flow of $4.9 billion equal 40% and 36% of revenue, respectively. The company returned $1.7 billion to shareholders in the quarter through dividends and buybacks. Management guided fiscal fourth-quarter 2026 revenue to $4.3 billion (+/- $100 million), with reported operating margin of about 42.6% and adjusted operating margin of about 52.0%. Planned GAAP EPS is $3.14 and adjusted EPS is $3.86, both +/- $0.15. The Board declared a quarterly dividend of $1.10 per share, payable September 15, 2026. The quarter also included a $1.5 billion acquisition payment, and the Empower Semiconductor acquisition is referenced in the non-GAAP disclosures. Investors should note that the balance sheet shows goodwill rising to about $28.0 billion and total debt (current debt, commercial paper and long-term debt) of roughly $9.1 billion, and that the very low GAAP tax rate of 13.3% in the quarter, versus 32.1% a year earlier, flatters GAAP EPS. Sequentially, the quarter's cash flow was strong after a weak second quarter, which had operating cash flow of only $872 million.
  4. 8-KAnalog Devices 8-K Report, Corporate Update (Jul 29, 2026)Analog Devices, Inc. (ADI) disclosed on July 29, 2026, that it identified unauthorized access to certain company systems on June 23, 2026. The company promptly initiated incident response protocols, engaged external cybersecurity experts, and notified law enforcement. While operations were not interrupted, an investigation confirmed that certain files were exfiltrated, though the full scope and nature of the data are still under investigation. To date, there is no indication of public release or fraudulent use of the data. ADI stated it does not believe this incident is reasonably likely to materially impact its business, operations, or financial condition, based on current information and mitigation efforts. Additionally, ADI is separately assessing public reports of a disparate cybersecurity matter that emerged on July 26, 2026. The company will provide notifications to affected parties and regulators as appropriate. Investors should be aware that while ADI currently assesses the impact as immaterial, ongoing investigations and potential future discoveries could alter this outlook, with risks including data misuse, operational disruptions, and legal/reputational ramifications.
  5. 8-KAnalog Devices 8-K Report, Material Agreement (Jul 2, 2026)Analog Devices, Inc. (ADI) has entered into a new 364-day revolving credit facility totaling $3.0 billion, providing significant liquidity and financial flexibility. This agreement, effective July 2, 2026, is with Bank of America, N.A. as Administrative Agent and a syndicate of lenders. The facility allows for multi-currency borrowings and offers the option to convert outstanding loans to a non-amortizing term loan one year post-closing, subject to certain conditions and a fee. The credit agreement includes provisions for annual extensions, prepayments without penalty, and voluntary reductions in commitment. It also allows for the designation of foreign subsidiaries as borrowers, with ADI providing guarantees. The terms of the facility are tied to ADI's Debt Ratings, influencing interest rates and facility fees. Standard covenants, representations, warranties, and events of default are included, along with a financial covenant requiring a minimum consolidated EBITDA to consolidated interest charges ratio of 3.00 to 1.00.
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04—See also

Related Companies

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