TORVANTA
Information Technology · S&P 500 · data as of 2026-10-05

ADI stock analysis: Analog Devices

Analog Devices (ADI) is an S&P 500 company in Semiconductors.

The model's view of ADI · subscribers

Where ADI ranks among the 1,500 U.S. stocks the model scores each trading day, its expected return, the evidence for and against it, and whether the model portfolio holds it. The grades below describe the company's data; they are not the model's view.

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What's happening with ADI · updated 2026-10-05 · from prices and SEC filings

ADI price performance

ADI against the S&P 500, one year
+0%+50%ADI +73%S&P 500 +18%2025-09-292026-10-05
Year to date+55.9%S&P 500 +14.5% · ahead by 41.4 pts
1 year+75.4%S&P 500 +17.0% · ahead by 58.3 pts
3 years+155.3%S&P 500 +89.3% · ahead by 66.0 pts
5 years+175.6%S&P 500 +91.3% · ahead by 84.3 pts

Total returns with dividends reinvested.

ADI factor grades

Each grade compares ADI with the rest of its sector (A+ best, F worst); the numbers behind it are shown with the typical figure for its peers.

CValueP/E 49.8x (industry 49.8x)FCF yield 2.4% (industry 2.5%)
B+GrowthRevenue growth +34% (industry +21%)EPS growth +115% (industry +20%)
B-ProfitabilityOperating margin 35.5% (industry 23.2%)ROIC 11.0% (industry 11.0%)
BMomentum12-month change +75%From 52-wk high -6%

ADI in plain numbers

ADI key statistics

SectorInformation Technology
IndustrySemiconductors
IndexS&P 500
Market value$203.1B
Revenue growth (y/y)+34%
Free-cash-flow yield2.4%
Dividend yield1.0%
Next earnings (expected)2026-11-24
Valuation measures
Market value$203.1B
Enterprise value$209.0B
P/E (trailing)49.8x
Forward P/E (Torvanta estimate)35.4x
PEG (Torvanta estimate)0.87
Price / sales14.6x
Price / book6.1x
EV / revenue15.1x
EV / EBITDA42.4x
Financial highlights
Revenue, last 12 months$13.9B
Net income, last 12 months$4.1B
EPS, last 12 months (GAAP)$8.42
Gross margin65.8%
Operating margin35.5%
Net margin29.8%
Return on equity12.2%
Return on invested capital11.0%
Cash$2.2B
Total debt$8.1B
Debt / equity0.24x
Free cash flow, last 12 months$4.9B
Interest cover14.1x
Current ratio1.25x

Company figures from its latest SEC filings; market value and returns from end-of-day prices.

ADI earnings trends

Revenue vs earnings
$0$1.0B$2.0B$3.0B$4.0BOct 2024 Revenue: $2.4BJan 2025 Revenue: $2.4BApr 2025 Revenue: $2.6BJul 2025 Revenue: $2.9BOct 2025 Revenue: $3.1BJan 2026 Revenue: $3.2BApr 2026 Revenue: $3.6BJul 2026 Revenue: $4.0BOct 2024 Net income: $478.1MJan 2025 Net income: $391.3MApr 2025 Net income: $569.8MJul 2025 Net income: $518.5MOct 2025 Net income: $787.7MJan 2026 Net income: $830.8MApr 2026 Net income: $1.2BJul 2026 Net income: $1.3BOct 2024Jan 2025Apr 2025Jul 2025Oct 2025Jan 2026Apr 2026Jul 2026Net margin: 19.6%Net margin: 16.1%Net margin: 21.6%Net margin: 18.0%Net margin: 25.6%Net margin: 26.3%Net margin: 32.5%Net margin: 33.3%0%17%33%■ Revenue ■ Net income ━ Net margin
Earnings per share$0.0$0.7$1.4$2.1$2.7Oct 2024 EPS (GAAP, diluted): $1.0Jan 2025 EPS (GAAP, diluted): $0.8Apr 2025 EPS (GAAP, diluted): $1.1Jul 2025 EPS (GAAP, diluted): $1.0Oct 2025 EPS (GAAP, diluted): $1.6Jan 2026 EPS (GAAP, diluted): $1.7Apr 2026 EPS (GAAP, diluted): $2.4Jul 2026 EPS (GAAP, diluted): $2.7Oct 2024Jan 2025Apr 2025Jul 2025Oct 2025Jan 2026Apr 2026Jul 2026■ EPS (GAAP, diluted) Change from a year earlier: Oct 2025 +66% · Jan 2026 +117% · Apr 2026 +111% · Jul 2026 +163%

From the company's 10-Q and 10-K filings with the SEC.

Analog Devices financials (from SEC filings)

Fiscal yearFY2021FY2022FY2023FY2024FY2025
Revenue$7.3B$12.0B$12.3B$9.4B$11.0B
Net income$1.4B$2.7B$3.3B$1.6B$2.3B
EPS (GAAP)$3.46$5.26$6.54$3.29$4.55
Free cash flow$2.4B$3.8B$3.6B$3.1B$4.3B

ADI earnings history

ReportedEPS (GAAP)EPS y/yRevenue y/yStock vs S&P 500, 2 days
2026-08-19$2.74+163%+40%-1.1%
2026-05-20$2.40+111%+37%-8.5%
2026-02-18$1.69+117%+30%+2.1%
2025-11-25$1.59+66%+26%+6.1%
2025-08-20$1.04+32%+25%+7.8%
2025-05-22$1.14+87%+22%-4.7%

About Analog Devices

HeadquartersWilmington, MA
Industry (SEC code)Semiconductors & Related Devices
Fiscal year endsOctober 31
Incorporated inMA
Listed onNasdaq

From the company's SEC registration record.

Companies similar to ADI

CompanyMarket valueP/ERevenue growthOperating margin12-month change
ADI Analog Devices$203.1B49.8x+34%35.5%+75%
QCOM Qualcomm$189.8B20.7x+2%23.2%+9%compare
MRVL Marvell Technology$237.9B89.5x+31%16.5%+215%compare
TXN Texas Instruments$269.3B44.9x+17%37.3%+68%compare
MPWR Monolithic Power$72.7B90.1x+29%28.7%+62%
NXPI NXP Semiconductors$61.1B23.2x+2%30.4%+8%
MCHP Microchip$44.2B119.8x+21%15.5%+26%

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Frequently asked questions

Is ADI stock a buy?

Torvanta does not tell individuals what to buy. Its grades for ADI are shown above. Subscribers see the model's rank, expected return and whether the model portfolio holds it. This is research, not a recommendation.

What is ADI's P/E ratio?

ADI trades at about 49.8 times its last 12 months of GAAP earnings reported to the SEC, and about 35.4 times Torvanta's own estimate of the next 12 months.

When does ADI report earnings next?

Based on its filing history, Torvanta expects Analog Devices to report around 2026-11-24.

Does ADI pay a dividend?

Yes. Its dividend yield is about 1.0%, and it has raised its dividend 22 years in a row.

How has ADI performed against the S&P 500?

Over the past year ADI returned +75.4%, against +17.0% for the S&P 500, dividends reinvested.

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Subscribers get the model's rank and expected return for every covered company, the reasoning behind each, and the Torvanta model portfolio's trades each trading day, sized and explained, at three risk levels.

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Torvanta is research only - not investment advice and not a recommendation to buy or sell any security. Grades describe a company's reported data against its sector; they are not the model's view, change as data changes and can be wrong. Financial figures come from the company's SEC filings; returns include reinvested dividends. Past performance does not predict future results.

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