Analog Devices is a leading analog, mixed-signal, and digital-signal processing chipmaker. The firm has a significant market share lead in converter chips, which are used to translate analog signals to digital and vice versa.
It is a $198B technology company. Revenue grew 33.6% over the last year, it keeps 30¢ of every dollar of sales as profit, and its net debt equals ~1.0 years of free cash flow. It trades at 47.6× earnings — around the middle of its own history.
- Website
- analog.com
- Location
- Wilmington, MA
- Employees
- 24 500
- Sector
- Technology
- Founded
- 1965
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong growth, quality and moat; Valuation and Health lag behind.
Valuation27
- P/E vs own history46th pct · 12/25
- FCF yield2.5% · 5/25
- P/S14.2x · 5/25
- EV/EBITDA35.8x · 5/25
Growth77
- Revenue CAGR10.8% · 20/25
- Net income CAGR13.0% · 20/25
- EPS CAGR ~5Y6.8% · 12/25
- Fwd implied growth98.2% · 25/25
Profitability67
- ROIC5.9% · 5/25
- ROE12.3% · 12/25
- Net margin29.8% · 25/25
- Operating margin35.5% · 25/25
Health49
- Altman Zn/a · 0/25
- Current ratio1.25 · 12/25
- Interest coverage13.8x · 25/25
- Net cash / debtD/A 10% · 12/25
Quality95
- Piotroski F8/9 · 25/25
- Beneish M-2.59 · 25/25
- FCF conversion119% · 25/25
- Margin stabilityσ 5.1% · 20/25
Moat75
- ROIC >12% years1/10 yrs · 0/25
- Median gross margin63.4% · 25/25
- FCF-positive years10/10 yrs · 25/25
- Worst-year net marginworst 14.2% · 25/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- FY2023FinancialBest year on record$3.31B net income
- FY2022FinancialRevenue crossed $10B$12.0B for the year
- FY2022FinancialBecame debt-freecash now exceeds total debt
- 2020AcquisitionAnalog agreed to acquire Maxim Integrated in an all stock deal that values the combined company at $68…
- FY2016FinancialProfitable every year on record10 consecutive profitable years in our data
- FY2016FinancialRevenue already above $1B$3.42B in first reported year
- FY2016FinancialPositive free cash flow every year since10-year streak
- 2016AcquisitionAnalog and Linear Technology agreed that Analog would acquire Linear in an approximately $14.8 billion…
- 2008AcquisitionON Semiconductor completed the acquisition of the CPU Voltage and PC Thermal Monitoring Business…
- 2000AcquisitionAnalog Devices's sales grew by over 75% to $2.578 Billion and the company acquired five companies including…
- 1973ProductThe company was the first to launch laser trim wafers and the first CMOS digital-to-analog converter
- 1969IPOAnalog Devices filed an initial public offering and became a publicly traded company
- 1967MilestoneThe company published the first issue of its technical magazine, Analog Dialogue
- 1965FoundedThe company was founded by Ray Stata and Matthew Lorber, two MIT graduates, in 1965
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (65.8%)
- Strongly profitable — 29.8% net margin
- Revenue growing 33.6% year over year
- Strong cash conversion — FCF is 35.6% of revenue
- Interest covered 13.8× by operating earnings
Watch-outs
Nothing stands out as a concern in the available data.
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+33.6% YoY
- Profitable — makes more than it spends$4.14B TTM
- Profit growing — earnings are higher than last year-4.6% YoY
- Generates cash — cash left after running and investing$4.94B TTM
- Debt under control — could handle its obligations~1.0y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$198B market cap
- Not printing shares — share count not ballooning — you keep your slice+33.5% shares over ~5y
- Proven track record — years of profitability behind it10/10 profitable years
- Financially stable — balance sheet not near distresshealth score 37/100
- Pays a dividend — returns cash to shareholdersyield 1.04%
- Valuation not extreme — price not wildly above earningsP/E 47.6
Peer comparisonAnalog Devices, Inc. vs 6 largest technology peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| ADI this company | $198.1B | 47.6 | +33.6% | 29.8% | Mixed |
| NVDA Nvidia Corp | $5.5T | 28.6 | +83.4% | 63.7% | Mixed |
| AAPL Apple Inc. | $4.9T | 38.1 | +14.2% | 27.6% | Strong |
| GOOGL Alphabet Inc. | $4.3T | 17.6 | +20.1% | 54.8% | Mixed |
| MSFT Microsoft Corp | $4.0T | 29.7 | +17.8% | 40.3% | Strong |
| SPCX Space Exploration Technologies Corp. | $2.1T | — | +33.2% | -34.0% | Strained |
| META Meta Platforms, Inc. | $1.8T | 26.9 | +27.7% | 29.8% | Mixed |
Head-to-head: ADI vs NVDA · ADI vs AAPL · ADI vs GOOGL
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/ADI
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of ADI on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $408.81 · market cap $198B.