ADIAnalog Devices

Technology · Semiconductors · Nasdaq

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

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What the 10-K filed 2025-11-25 says about risks that are not on the face of the balance sheet, from the notes to the financial statements, Legal Proceedings and the MD&A (and, for big customers and key suppliers, Business and Risk Factors). Tickdelta picks sentences with specifics (amounts, accruals, covenant ratios) and quotes them as filed. New marks a sentence with nothing like it in the 10-K filed 2024-11-26.

Big customers

Customers the company names as a large share of revenue or receivables (it must name any worth 10% of revenue).

“Sales to third-party distributors accounted for approximately 56% of our revenue in the year ended November 1, 2025.”
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“No other customer accounted for greater than 10% of total revenue in any period presented.”
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Key suppliers

Parts or manufacturing that depend on one or a few suppliers.

“In certain instances, one of our vendors may be the sole source of highly specialized processing services or materials.”
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“Additionally, more than half of the Company’s purchases of external wafer and foundry services are from a limited number of suppliers, such as Taiwan Semiconductor Manufacturing Company (TSMC) and others.”
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Lawsuits and legal claims

Pending cases, settlements and what the company has set aside for them.

No specific sentence about this in the 10-K.

Guarantees and indemnities

Promises to pay someone else's debts or losses if they cannot.

No specific sentence about this in the 10-K.

Debt covenants

1 new

Conditions in loan agreements that, if broken, can make debt due early.

New “In addition, the Revolving Credit Agreement contains an interest coverage covenant which requires the ratio of consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) to consolidated interest charges to be greater than 3.0 to 1.0.”
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“As of November 1, 2025, we were in compliance with these covenants.”
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“The Revolving Credit Agreement contains customary representations and warranties, and affirmative and negative covenants and events of default applicable to the Company and its subsidiaries.”
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“As of November 1, 2025, the Company was in compliance with these covenants.”
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“As of November 1, 2025, the Company was in compliance with all covenants under its debt agreements.”
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Commitments off the balance sheet

Contracts the company must pay for later: purchase obligations, take-or-pay deals.

No specific sentence about this in the 10-K.

Sentences are chosen by their words, not read by AI, so some can be off topic. Always check the filing. Open the 10-K ↗

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