15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 14.5% per year over the past 5 years.
Net income has grown slower than revenue (13.2% vs 14.5% per year).
Operating margin has been roughly flat, at 26.6% in the latest year.
Free cash flow has grown 18.3% per year over the past 5 years.
Financial health
Total debt ($8.6B) exceeds cash ($2.5B); net debt is $6.1B.
Total debt has grown slower than revenue (6.1% vs 14.5% per year).
Operating income covered interest expense 9.2× in the latest year.
Total debt is 2.9× EBITDA.
Shareholder returns
Dividends have been paid for 15 consecutive years, consuming 84.9% of earnings and 45.0% of free cash flow.
The dividend has grown 16.8% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$11.0B
$2.3B
61.5%
26.6%
$4.3B
$8.6B
$2.5B
2024
$9.4B
$1.6B
57.1%
21.6%
$3.1B
$7.6B
$2.0B
2023
$12.3B
$3.3B
64.0%
31.1%
$3.6B
$6.9B
$958M
2022
$12.0B
$2.7B
62.7%
27.3%
$3.8B
$6.6B
$1.5B
2021
$7.3B
$1.4B
61.8%
23.1%
$2.4B
$6.8B
$2.0B
2020
$5.6B
$1.2B
65.9%
26.7%
$1.8B
—
$1.1B
2019
$6.0B
$1.4B
67.0%
28.6%
$2.0B
—
$648M
2018
$6.2B
$1.5B
68.3%
30.5%
$2.2B
—
$817M
2017
$5.2B
$805M
60.4%
22.2%
$950M
—
$1.0B
2016
—
$862M
—
—
$1.2B
—
$921M
2015
—
$697M
—
—
$754M
—
$884M
2014
—
$629M
—
—
$694M
—
$569M
2013
—
$673M
—
—
$789M
—
$392M
2012
—
$651M
—
—
$682M
—
$529M
2011
—
$867M
—
—
$778M
—
$1.4B
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
May '26
$3.6B
$1.2B
67.3%
38.1%
$734M
$8.7B
$2.4B
Jan '26
$3.2B
$831M
64.7%
31.5%
$1.3B
$8.7B
$2.9B
Nov '25
$3.1B
$788M
63.1%
30.7%
$1.5B
$8.6B
$2.5B
Aug '25
$2.9B
$519M
62.1%
28.4%
$1.1B
$8.7B
$2.3B
May '25
$2.6B
$570M
61.0%
25.7%
$729M
$7.2B
$2.4B
Feb '25
$2.4B
$391M
59.0%
20.3%
$978M
$7.6B
$2.3B
Nov '24
$2.4B
$478M
58.0%
23.3%
$885M
$7.6B
$2.0B
Aug '24
$2.3B
$392M
56.7%
21.2%
$701M
$8.1B
$2.1B
May '24
$2.2B
$302M
54.7%
17.9%
$620M
$8.1B
$1.9B
Feb '24
$2.5B
$463M
58.7%
23.3%
$916M
$7.0B
$1.3B
Oct '23
$2.7B
$498M
60.6%
23.4%
$711M
$6.9B
$958M
Jul '23
$3.1B
$877M
63.8%
30.2%
$818M
$7.1B
$1.1B
Apr '23
$3.3B
$978M
65.7%
34.6%
$797M
$6.8B
$1.2B
Jan '23
$3.2B
$961M
65.4%
34.8%
$1.2B
$6.6B
$1.7B
Oct '22
$3.2B
$936M
66.0%
33.9%
$845M
$6.6B
$1.5B
Jul '22
$3.1B
$749M
65.7%
28.7%
$1.1B
$6.3B
$1.5B
Apr '22
$3.0B
$783M
65.4%
30.9%
$1.1B
$6.3B
$1.7B
Jan '22
$2.7B
$280M
52.2%
13.6%
$745M
$6.3B
$1.8B
Oct '21
$2.3B
$76M
47.9%
4.2%
$810M
$6.8B
$2.0B
Jul '21
$1.8B
$503M
69.4%
34.7%
$544M
—
$1.5B
Valuation over time
How the market has priced ADI against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has risen from 35.0× (Mar '23) to 89.8× (Jun '26).
The price-to-sales ratio has risen from 8.0× (Mar '23) to 18.5× (Jun '26).
The dividend yield has fallen from 1.6% (Mar '23) to 0.9% (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is ADI growing its revenue and profit?
Over the past 5 years, Analog Devices's revenue has grown 14.5% per year, and net income grown 13.2% per year. These are computed facts, not advice.
How much debt does ADI have?
As of FY2025, Analog Devices reported $8.6B of total debt against $2.5B of cash; operating income covered interest expense 9.2×.
What is ADI's profit margin?
In FY2025, gross margin was 61.5%, operating margin 26.6%, and net margin 20.6%.
What is ADI's P/E ratio?
As of Jun '26, Analog Devices traded at a price-to-earnings ratio of about 89.8× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.