Loading…
Analog Devices
S&P 500 Nasdaq 100
$184.3B
Market Cap
51.0
P/E
1.39
PEG
6.2%
ROCE
6.6%
ROE
0.25
D/E
26.6%
OPM
-16.5%
% from 52W High
71
α RS
🔍 ADI is showing a high-conviction setup because it matches 3 of 37 tracked screener presets, RS Rating is 71, and an ECS of 76.3 last quarter. Net: Broad signal stack, not a recommendation. ? Conviction RS Rating ECS
Sources
Conviction 3/37 · RS Rating 71 · ECS 76.3
⚖️ Compare 🔒 Generate Report 🔒 Research Packet 📚 Guides
🌏 Global Investor Returns
Currency-adjusted total returns for ADI including FX impact
🌏
Click 🌏 Returns tab to load data
📈 Price History
Ratio Health
Excellent
Good
Average
Poor
By Category
📊 Sector Averages
About

Analog Devices, Inc. engages in the design, manufacture, testing, and marketing of integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia.

Key Ratios Snapshot
📈 Growth Pattern
📊 Quick Scorecard
Loading…
⭐ Superinvestors Holding ADI
View All Superinvestors →
Manager Shares Value % of Fund Period
Steve Cohen Point72 Asset Management 1.13M $360.7M 0.46% Mar 2026
Jim Simons Renaissance Technologies LLC 74.4K $23.7M 0.04% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔒
Premium Feature
AI-generated 10-section company profile — business model, financials, strengths, risks & management quality
Upgrade to Premium
Already a member? Log in
📐
3-Statement Financial Model
Bear / Base / Bull projections · DCF fair value · Reverse-DCF
Open Model →
🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →
Good quarter Investor Presentation One-Pager? Q2 2026
Revenue
$3.62B
+37% YoY
Adjusted Operating Income
$1.77B
+63% YoY
Adjusted Operating Margin
49.0%
+7.8pp YoY
Adjusted EPS
$3.09
+67% YoY
What Went Right
  • Revenue and EPS finished above high end of guidance, setting new records
  • Industrial revenue up 20% sequentially and 56% YoY, led by ATE, A&D, ETM, broad market
  • Data center revenue grew over 90% YoY, with strong optical and power portfolios
  • Auto returned to growth with record bookings; BMS saw first YoY increase in two years
What to Watch
  • Gross margin expected to decline ~50bps in Q3 due to absence of one-time channel repricing benefit
  • Utilization near capacity; further gross margin upside limited from utilization alone
  • Consumer segment expected to be down single digits sequentially in Q3
  • Management remains mindful of dynamic macro and geopolitical environment
Management Guidance
  • Q3 FY2026 revenue: $3.9B ±$100M
  • Q3 adjusted operating margin: ~49% ±100bps
  • Q3 adjusted EPS: $3.30 ±$0.15
  • Tax rate expected 12-14%
Investor Lens
The investment thesis is strengthened after this call. Record revenue and EPS, broad-based demand across industrial, auto, and data center, and constructive guidance all point to a powerful cyclical and secular upswing. The company's increased internal capacity and resilient supply chain support the $20B 2030 vision, while the Empower acquisition opens additional TAM in AI power. However, near-term gross margin constraints from utilization and macro uncertainties warrant monitoring, but overall the trajectory is firmly positive.
From investor presentation · AI-generated analysis · Not investment advice
🔒
Premium Feature
Investor Presentation One-Pager — quarterly highlights, what went right/wrong & management guidance
Upgrade to Premium
Already a member? Log in
📈 STRONG Record quarter with broad strength; guidance remains robust
Revenue
Revenue was a record $3.62B, up 15% sequentially and 37% YoY, beating the high end of guidance. Industrial (50% of revenue) grew 20% QoQ and 56% YoY; Communications (15% of revenue) was up 22% QoQ and 79% YoY, driven by data center more than 90% YoY; Automotive (24%) rose 8% QoQ and 2% YoY; Consumer (11%) was flat QoQ and up 23% YoY.
Profitability
Adjusted EPS was a record $3.09, up 26% sequentially and 67% YoY. Adjusted operating income was $1.77B, up 63% YoY. Net income on a GAAP basis was not explicitly stated but GAAP diluted EPS was $2.40, up 111% YoY.
Margins
Adjusted gross margin was 73.0%, up 180bps sequentially and 360bps YoY, driven by favorable mix, higher utilization, and pricing. Adjusted operating margin was 49.0%, up 350bps sequentially and 780bps YoY. For Q3, gross margin is expected to decline ~50bps due to the absence of a one-time benefit, and operating margin is guided to ~49%.
Balance Sheet
Cash and short-term investments ended the quarter at $3.4B; net leverage ratio was 0.8x. Trailing 12-month free cash flow was $4.6B, or 36% of revenue. The company returned $5B to shareholders over the trailing 12 months via dividends and buybacks. CapEx is expected within 4%-6% of revenue for FY2026.
Key Risks
1) Gross margin may face a near-term ceiling as utilization is already high and incremental upside from utilization is limited. 2) The Q3 outlook assumes flat channel inventory weeks, and any destocking could pressure growth. 3) Consumer revenue is expected to decline sequentially, reflecting some demand softness. 4) Ongoing macroeconomic and geopolitical tensions could impact demand.
Outlook
For Q3 FY2026, ADI expects revenue of $3.9B ±$100M, adjusted operating margin of ~49%, and adjusted EPS of $3.30 ±$0.15. The company expects continued above-seasonal growth in industrial, automotive, and communications, while consumer is expected down sequentially.
Generated by AI · Q2 2026 results · Not investment advice
🔒
Free Account Required

Create a free Finmagine account to access Finmagine™ Scorecard.

See how this company scores across 5 dimensions — Financial Health, Growth Prospects, Competitive Position, Management Quality, and Valuation — powered by 30+ computed ratios.

Create Free AccountLog In
🔒
Premium Feature

Upgrade to Finmagine Premium to unlock Ask AI.

Get 25 expert AI analysis templates — Business KPIs, Comprehensive, Forensic Governance, Peer Comparison, Risk-Reward, Full Research Report, IPO Decoder, Red Flag Detector, and more — ready to paste into ChatGPT, Claude, Gemini, or Perplexity.

Upgrade to PremiumCreate Free Account
🔒
Premium Feature

Upgrade to Finmagine Premium to unlock Peer Comparison.

Compare this company side-by-side against its sector peers with financial metrics, ratio benchmarking, and relative performance across all key dimensions.

Upgrade to PremiumCreate Free Account
✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
🔍
🔎 See cross-company document search → ?
📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-05-20
Record quarterly revenue and EPS were driven by strong growth in industrial, data center, and automotive segments, with robust demand and disciplined execution. Guidance points to continued above-seasonal growth, and the Empower acquisition is set to expand opportunities in AI power delivery.
Q1 2026 Q1 2026 2026-02-18
Revenue, profitability, and EPS exceeded guidance, with strong growth in industrial and communications, and AI-related businesses now 20% of revenue. Q2 outlook is robust, aided by pricing actions and broad-based demand, while capital returns and dividend growth remain priorities.
Q4 2025 Q4 2025 2025-11-25
Fourth quarter and fiscal 2025 saw strong revenue and EPS growth, record free cash flow, and robust performance across all end markets. Guidance for Q1 2026 anticipates continued growth, led by industrial and communications, despite macro uncertainties.
Q3 2025 Q3 2025 2025-08-20
Q3 revenue and earnings exceeded expectations, with double-digit growth across all end markets. Industrial led the recovery, while automotive saw order pull-ins that will unwind in Q4. Guidance calls for continued growth in industrial, communications, and consumer, with automotive expected to decline.
Q2 2025 Q2 2025 2025-05-22
Second quarter revenue and EPS exceeded expectations, with broad-based growth across all segments and strong momentum in industrial, automotive, and communications. Management expects continued recovery, with Q3 revenue and margins guided higher, while monitoring tariff-related risks.
🔒
Premium Feature

Upgrade to Finmagine Premium to unlock Catalyst Timeline.

Every result, order win, insider trade, ECS update, earnings-call, and SEC announcement for this company — in one chronological lane.

Upgrade to PremiumCreate Free Account
🔒
Premium Feature

Upgrade to Finmagine Premium to unlock Full Report.

Read the complete Finmagine™ investment research report — comprehensive fundamental analysis, business model assessment, competitive positioning, and investment recommendation.

Upgrade to PremiumCreate Free Account

📊 Analysis Methodology

This comprehensive investment analysis was conducted using The Finmagine™ Stock Analysis & Ranking Methodology, a proprietary framework that systematically evaluates stocks across five critical dimensions: Financial Health, Growth Prospects, Competitive Positioning, Management Quality, and Valuation.

🎯
Discover Our Proven Investment Framework Learn how we analyze and rank stocks using advanced quantitative models, multi-dimensional scoring systems, and dynamic discriminatory ranking techniques that have guided successful investment decisions across market cycles.
📊 Explore The Finmagine™ Methodology

A comprehensive, bias-free framework for analyzing and ranking stocks by Financial Strength, Growth Potential, Competitive Edge, Management Quality, and Value.

Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

⚠️ Important Disclaimers — Please read without fail.

Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

Not SEC-Registered:
Finmagine is not registered as an investment adviser with the U.S. Securities and Exchange Commission (SEC) or any state securities authority. Nothing on this platform constitutes investment advice as defined under the Investment Advisers Act of 1940.

Conflict of Interest Disclosure:
The author and/or analyst may currently hold or have previously held positions in the securities discussed. Any such positions are not intended to influence the objectivity or independence of the analysis. This research is produced independently and is not sponsored, endorsed, or commissioned by any company or institution.

Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

Forward-Looking Statements:
This analysis may contain forward-looking statements, forecasts, or projections that are inherently subject to risks, uncertainties, and assumptions. Actual results may differ materially from those expressed or implied. Finmagine does not undertake any obligation to update such statements in the future.

Limitation of Liability:
The content is provided "as is" without any warranties, express or implied. Finmagine expressly disclaims any liability for errors, omissions, or any losses incurred as a result of reliance on the information provided. Readers assume full responsibility for their investment decisions.