ADI
Analog Devices, Inc.

Analog Devices, Inc.ADI

Technology · Semiconductors
363.56USD
+0.71%
Nov 08, 2026
ADI overview ready
Broad-Based Analog and Mixed-Signal Semiconductor Enabler for Industrial Automation
ADI is a broad-based analog and mixed-signal semiconductor enabler for industrial automation rather than a pure-play automation-equipment supplier.
Primary theme is lagging
Analog Semiconductors is lagging (-10.8pp vs SPY over 21 sessions; 3 of 10 members ahead of SPY).
Price structure is giving way
Longer-term context reads established trend, with a near-term setup of distribution pressure.
Demanding valuation
The price embeds expectations that run ahead of what comparable businesses command.
Fundamentals under pressure
Ev / sales is weak.
Primary risk
Cyclicality in industrial and automotive capital spending.
Market Nov 6Filing Aug 1Price action Nov 7Research Nov 1

Conviction Level

PriceAction6.0BusinessPerformance9.0BusinessQuality7.6Valuation2.7ThemeMomentum1.0Accelerating — Revenue growth has accelerated across 4 consecutive quarters, rising from +26% to +40% year over year. Diluted EPS growth has strengthened to +164% year over year ($2.74), up from +111%. — Accelerating describes growth momentum measured in recent filed quarters. It is not proof that the acceleration will continue.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
vs SPY
−10.8pp
Theme return
−15.8%
Beating SPY
3 of 10
21 sessions to Nov 6, 2026 · Theme Leadership V2
Price
Loading price history…

Price Action

Price structure is giving way
Longer-term context reads established trend, with a near-term setup of distribution pressure.
EntryConstructive

Structure is constructive, but price remains well extended from the long-term weekly base and the earlier reset has already been partly recovered — a workable rather than ideal entry location.

Key Financials

Market Cap
$176.2B
Avg Volume (60D)
3.9M
60 sessions
Revenue Growth YoY
+16.9%
FY2025 vs FY2024
Gross Margin
+65.8%
Trailing twelve months
Operating Margin
+35.5%
Trailing twelve months
Free Cash Flow Yield
+2.8%
Distance from 200DMA
-2.5%
Next Earnings
2026-11-24
P/E
42.6x
EV / Sales
13.1x
Market metrics as of Nov 6, 2026
Financial results for the period ended Aug 1, 2026
Filed balance-sheet data as of Aug 1, 2026

Business Performance

Accelerating

Revenue growth has accelerated across 4 consecutive quarters, rising from +26% to +40% year over year. Diluted EPS growth has strengthened to +164% year over year ($2.74), up from +111%.

Latest reported: Q3 FY2026, ended Aug 1
Revenue growthAccelerating
+40%
$4.02B in Q3 FY2026 · YoY
YoY growth, last 4 quarters
  1. +26%
  2. +30%
  3. +37%
  4. +40%
Earnings growthAccelerating
+164%
Diluted EPS $2.74 vs $1.04 a year earlier · GAAP
Diluted EPS YoY (GAAP), last 4 quarters
  1. +67%
  2. +117%
  3. +111%
  4. +164%
Operating marginExpanding
40.1%
+11.7 pp YoY · gross margin 67.3% (+5.2 pp)

Business Quality

7.6 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

Only one valuation perspective could be built for this company, and it reads expensive.
Analog Devices, Inc. has an Expensive valuation stance because the price embeds expectations that run ahead of what comparable businesses command. It trades at a 2.8% free-cash-flow yield and 13.1x revenue, which require sustained delivery to be justified.

Company Research

Thesis
ADI is a broad-based analog and mixed-signal semiconductor enabler for industrial automation rather than a pure-play automation-equipment supplier. Its exposure is meaningful but diversified across industrial, automotive, communications and other end markets.
Opportunity
Moderate opportunity
Factory-automation and robotics spending on the sensing, data-acquisition, deterministic-control, power and connectivity layers required to make industrial equipment more autonomous, productive and resilient.
Key risk
Cyclicality in industrial and automotive capital spending.

Economic classification

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Business & Markets

Technology · Semiconductors
What they do

Analog Devices, Inc. designs, manufactures, tests, and markets integrated circuits, software, and subsystems globally, focusing on analog and mixed-signal semiconductor solutions.

How it earns

The company generates revenue primarily through transactional sales of semiconductor products and related subsystems to industrial, automotive, communications, and consumer markets.

Products & services
Data converter integrated circuits
Power management and reference products
Signal chain and connectivity solutions
Motion control components
Customers & end markets
Industrial automation equipment manufacturers
Automotive industry
Communications sector
Consumer electronics
Market position

Leader in analog and mixed-signal semiconductors with a diversified industrial portfolio.

Demand drivers
Medium cyclicality

Demand is influenced by capital spending cycles in industrial automation and automotive sectors.

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