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Analog Devices 8-K Report, Financial Results (Feb 18, 2026)

Reports
Earnings & Results·Other Events·Exhibits & Filings
Filing Date
Filed February 18, 2026
Period End
February 17, 2026
Security
ADI
In the 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. Deal closed8-K · Aug ’21Aug ’21
  4. Material agreement8-K · Apr ’25Apr ’25

01—Abstract

Summary

Summary of the 8-K filed February 18, 2026. Cited figures are marked; the original filing is the authoritative source.

Analog Devices reported fiscal Q1 2026 (quarter ended January 31, 2026) revenue of $3.16 billiona, up 30% year over year, with growth in every end market.

Communications (+63%) and Industrial (+38%) led, while Automotive grew only 8%. GAAP gross margin expanded to 64.7% from 59.0%, and GAAP operating margin rose to 31.5% from 20.3%. GAAP diluted EPS was $1.69b, up 117%, and adjusted diluted EPS was $2.46, up 51%.

Adjusted operating margin reached 45.5%. Operating cash flow for the trailing twelve months was $5.05 billionc and free cash flow was $4.56 billion, equal to 39% of revenue. The company returned $1.0 billion to shareholders in the quarter through $484 million in dividends and $516 million in buybacks.

Management guided fiscal Q2 2026 revenue to $3.5 billiond (±$100 million), which the company describes as a new high watermark. The midpoint implies GAAP operating margin of about 36.4% and adjusted operating margin of about 47.5%. Planned GAAP EPS is $2.19 (±$0.15) and adjusted EPS is $2.88 (±$0.15).

CFO Richard Puccio noted that the macro and geopolitical backdrop remains challenging, and the release cites strong Industrial demand and record Data Center orders. The Board raised the quarterly dividend 11% to $1.10 from $0.99, the 22nd consecutive annual increase. The dividend is payable March 17, 2026 to holders of record on March 3, 2026.

Total debt was roughly $8.7 billion at quarter end (current debt, commercial paper and long-term debt), against about $3.9 billion of cash and short-term investments. Goodwill and intangibles remain large, at about $34.6 billion combined, reflecting past acquisitions. Much of the gap between GAAP and adjusted results comes from acquisition-related amortization and fair value adjustments.

02—Key points

Key Highlights

  1. Revenue of $3.16B grew 30% YoY, with Communications up 63%, Industrial up 38%, Consumer up 27%, and Automotive up 8%.
  2. GAAP operating margin expanded roughly 1,120 bps to 31.5%; adjusted operating margin reached 45.5%, up 500 bps.
  3. GAAP diluted EPS rose 117% to $1.69; adjusted diluted EPS rose 51% to $2.46.
  4. Trailing twelve-month free cash flow was $4.56B (39% of revenue); Q1 operating cash flow was $1.37B.
  5. Q2 FY2026 guidance calls for revenue of $3.5B (±$100M), a new high watermark, with adjusted EPS of $2.88 (±$0.15).
  6. The quarterly dividend increased 11% to $1.10, the 22nd consecutive annual increase; $1.0B was returned to shareholders in Q1.
  7. Management cites record Data Center orders and broad Industrial strength, while noting a challenging macro and geopolitical backdrop.

03—Questions

Frequently Asked Questions

  1. How strong was ADI's fiscal Q1 2026 growth?

    Revenue was $3.16B, up 30% year over year. Growth was led by Communications (+63% to $477M) and Industrial (+38% to $1.49B). Automotive was the weakest segment at +8% to $794M. Consumer grew 27% to $400M.

  2. What is the difference between GAAP and adjusted results?

    GAAP diluted EPS was $1.69 and adjusted diluted EPS was $2.46. The gap is mainly acquisition-related expenses of about $392.7M in the quarter, which include amortization of acquired intangibles and fair value adjustments, plus special charges of $48M and tax effects. Investors should weigh GAAP figures alongside adjusted ones, since the company treats acquisition amortization as non-recurring for its non-GAAP measures.

  3. What is the outlook for fiscal Q2 2026?

    The company guides revenue to $3.5B (±$100M), reported operating margin to about 36.4% (±150 bps), and adjusted operating margin to about 47.5% (±100 bps). Planned GAAP EPS is $2.19 (±$0.15) and adjusted EPS is $2.88 (±$0.15). The tax rate is expected to be 11% to 13%.

  4. Is the dividend safe, and how much is it increasing?

    The quarterly dividend rises 11% to $1.10 from $0.99, payable March 17, 2026. The company has raised its dividend for 22 consecutive years and says it has committed 100% of free cash flow to shareholder returns over the long term. Q1 free cash flow of about $1.26B covered the roughly $484M dividend paid in the quarter, and trailing free cash flow of $4.56B covers the trailing dividend of about $1.95B.

  5. How is the balance sheet positioned?

    Cash and equivalents were $2.9B and short-term investments were $1.1B at January 31, 2026. Total debt was roughly $8.7B, including $898.9M of current debt, $543M of commercial paper and $7.24B of long-term debt. Long-term debt fell about $905M from November 1, 2025, partly reflecting the reclassification of $899M to current debt. Shareholders' equity was $33.8B.

04—Continue

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