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Screener / SEC EDGAR /CIK 0000006281 /10-K filed Nov 25, 2025, compared with Nov 26, 2024 /Numbers from the XBRL of the 10-Ks
Technology peers:
KLACWDCMSIADINXPISTX
Nasdaq Technology · Semiconductors

Analog Devices ADI

ADI quote by TradingView

Analog Devices, Inc. (we, Analog Devices or the Company) is a global semiconductor leader dedicated to solving our customers’ most complex engineering challenges. 10-K, Item 1

Employees
24,500
Headquarters
Wilmington, MA
CEO
Vincent Roche
Next results
around Nov 24, 2026
Compare with peers Embed

Where each dollar of revenue went, FY2025

Revenue of $11.0B through the costs to a net profit of $2.3B · income statement of the 10-K

27% operating margin
Revenue to Gross profit: $6.8BRevenue to Cost of revenue: $4.2BGross profit to Operating profit: $2.9BGross profit to Operating expenses: $3.8BOperating profit to Net profit: $2.3BOperating profit to Tax & other: $665.2MOperating expenses to R&D: $1.8BOperating expenses to Sales, admin & other: $2.1B Revenue: $11.0B REVENUE $11.0B +17% Y/Y Gross profit: $6.8B · 61% margin GROSS PROFIT $6.8B 61% margin · +26% Y/Y Cost of revenue: $4.2B · 39% of revenue COST OF REVENUE $4.2B 39% of revenue Operating profit: $2.9B · 27% margin OPERATING PROFIT $2.9B 27% margin · +44% Y/Y Operating expenses: $3.8B · 35% of revenue OPERATING EXPENSES $3.8B 35% of revenue Net profit: $2.3B · 21% margin NET PROFIT $2.3B 21% margin · +39% Y/Y Tax & other: $665.2M · 6% of revenue TAX & OTHER $665.2M 6% of revenue R&D: $1.8B · 16% of revenue R&D $1.8B 16% of revenue Sales, admin & other: $2.1B · 19% of revenue SALES, ADMIN & OTHER $2.1B 19% of revenue
Gross profit $6.8B 61% margin · +26% Y/Y
Operating profit $2.9B 27% margin · +44% Y/Y
Net profit $2.3B 21% margin · +39% Y/Y
The full income statement, year by year

ADI among Technology peers

Six ratios from the latest 10-K. Each corner is the share of 74 peers the company is above, not a score.

Compare
Revenue growth: 16.9%, above 58% of 74 peers (their median 14.0%) REVENUE GROWTH 16.9% · above 58% Gross margin: 65.8%, above 63% of 67 peers (their median 56.4%) GROSS MARGIN 65.8% · above 63% Operating margin: 35.5%, above 76% of 70 peers (their median 22.2%) OPERATING MARGIN 35.5% · above 76% Net margin: 29.8%, above 74% of 74 peers (their median 18.9%) NET MARGIN 29.8% · above 74% FCF margin: 35.6%, above 81% of 70 peers (their median 22.3%) FCF MARGIN 35.6% · above 81% Return on capital: 5.7%, above 20% of 61 peers (their median 12.7%) RETURN ON CAPITAL 5.7% · above 20%
ADI Peer median Below the median

What changed

5 new risk paragraphs. 10-K filed Nov 25, 2025 against Nov 26, 2024.

Risk factors
5 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Accounting checks
11 other checks clear
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
0 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

11 checks on the latest 10-K. Checks, not verdicts.

How it works

0facts worth reading about all 11 checks found nothing to note

  • Receivables +7.5% vs revenue +16.9% (-9.4 pts)
  • Cash from operations $4.8B vs net income $2.3B (FY ending Nov 1, 2025)
  • Inventory +14.4% vs revenue +16.9% (-2.5 pts)
8 more checks with nothing to note
  • Same auditor in both 10-Ks: Ernst & Young
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • The same matters as last year: Revenue Recognition – Measuring Price Protection Credits
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

5 paragraphs in Risk Factors that were not in the 10-K filed Nov 26, 2024. Quoted as filed.

All 5 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Nov 26, 2024 10-K, ITEM 1A
    In 2025, the U.S. government announced a series of tariffs, including tariffs targeting a broad range of imports and targeted tariffs on goods from specific countries and industries. In response, many countries imposed reciprocal tariffs and other trade restrictions on the United States. Although many of these tariffs, countermeasures…
  2. Item 1A · new paragraph · not in the 10-K filed Nov 26, 2024 10-K, ITEM 1A
    Sales to third-party distributors accounted for approximately 56% of our revenue in the year ended November 1, 2025. These independent distributors generally represent product lines offered by several companies and thus could reduce their sales
  3. Item 1A · new paragraph · not in the 10-K filed Nov 26, 2024 10-K, ITEM 1A
    AI technology may also give rise to significant legal and regulatory compliance risk. Evolving rules, regulations and industry standards governing AI may require us to incur greater compliance costs and restrict the use of AI in our products or

New risk paragraphs, against peers

Latest 10-K of each, Technology companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

From the same starting line, FY2016 to FY2025

Revenue, net income and free cash flow, each set to 100 in FY2016. What happened, from the 10-Ks. Not a forecast.

FY2016 = 100
100 200 300 400 Revenue: $3.4B in FY2016, $11.0B in FY2025 REVENUE $11.0B · 3.2x Net income: $861.7M in FY2016, $2.3B in FY2025 NET INCOME $2.3B · 2.6x Free cash flow: $1.2B in FY2016, $4.3B in FY2025 FREE CASH FLOW $4.3B · 3.7x FY2016 = 100FY2021FY2025
Revenue 3.2x $3.4B to $11.0B
Net income 2.6x $861.7M to $2.3B
Free cash flow 3.7x $1.2B to $4.3B

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$12.0B$12.3B$9.4B$11.0B
Net income$2.7B$3.3B$1.6B$2.3B
Operating cash flow$4.5B$4.8B$3.9B$4.8B
Free cash flow$3.8B$3.6B$3.1B$4.3B

Revenue, FY2016 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$11.0B ▲ 16.9% in FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

No new filings in the last 30 days · SEC EDGAR

All filings

Nothing new. The most recent filings:

About the company

Analog Devices, Wilmington, MA · from the 10-K filed Nov 25, 2025

Analog Devices, Inc. (we, Analog Devices or the Company) is a global semiconductor leader dedicated to solving our customers’ most complex engineering challenges. We deliver innovations that connect technology to human breakthroughs and play a critical role at the intersection of the physical and digital worlds by providing the building blocks to sense, measure, interpret, connect and power. We design, manufacture, test and market a broad portfolio of solutions, including integrated circuits (ICs), software and subsystems that leverage high-performance analog, mixed-signal and digital signal processing technologies.

Headquarters
Wilmington, MA
Country
United States
Listed on
Nasdaq
Fiscal year ends
October 31
Last results
Aug 19, 2026
Incorporated in
MA

Employees, at the top of the page: "As of November 1, 2025, we had approximately 24,500 employees, of whom approximately 13,000 are in engineering roles" (10-K). Address and exchange: SEC's company file.

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Sources

The 10-K filed Nov 25, 2025 (open at SEC), compared with the 10-K filed Nov 26, 2024. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

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