Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

Analog Devices

ADI stock analysis · Information Technology · Semiconductors

FY 2025-11-01ANNUAL FILINGS
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These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained.
Reference share price · USD
$397.17HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$193.5B

Price × SEC outstanding shares. Shares measured 2026-05-02. Approximate; share and price dates can differ.

View share-count filing ↗
Valuation

DCF value

$133.42

Equity cash-flow scenario · SEC outstanding shares at 2026-05-02 · -66.4% versus input cap

How this is calculated ↗
Valuation

Reverse DCF

33.5%

Annual basis · read assumptions below

How this is calculated ↗
Valuation

Relative valuation

-10.8%

12 industry peers · median 76.1×

How this is calculated ↗
Valuation

Historical multiples

58.6×

7 annual observations · snapshot P/E 85.3× · 45.7% versus history

How this is calculated ↗
Valuation

Free cash flow yield

2.2%

Annual basis · read assumptions below

How this is calculated ↗
Quality

ROIC / quality

5.7%

Normalized tax · financing-capital proxy · parent-equity fallback (scope limitation)

How this is calculated ↗
Valuation

Value composite

48/100

Annual basis · read assumptions below

How this is calculated ↗
Momentum

12–1 price momentum

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

-0.5%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

2.1%

Annual basis · read assumptions below

How this is calculated ↗
Quality

Accrual quality

-5.3%

Parent-earnings fallback versus consolidated cash flow · scope limitation

How this is calculated ↗
Momentum

Fundamental momentum

8.2%

Annual basis · read assumptions below

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 4.8B2020-10-31: cfo $2,008,487,000.002020-10-31: capex $165,692,000.0020202021-10-30: cfo $2,735,069,000.002021-10-30: capex $343,676,000.0020212022-10-29: cfo $4,475,402,000.002022-10-29: capex $699,308,000.0020222023-10-28: cfo $4,817,634,000.002023-10-28: capex $1,261,463,000.0020232024-11-02: cfo $3,852,529,000.002024-11-02: capex $730,463,000.0020242025-11-01: cfo $4,812,202,000.002025-11-01: capex $533,552,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%$167.34$182.59$198.98
10.0%$122.63$133.42$145.00
12.0%$96.75$104.98$113.80

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-11-0111B2.3B4.8B533.6M48B
2024-11-029.4B1.6B3.9B730.5M48.2B
2023-10-2812.3B3.3B4.8B1.3B48.8B
2022-10-2912B2.7B4.5B699.3M50.3B
2021-10-307.3B1.4B2.7B343.7M52.3B
2020-10-315.6B1.2B2B165.7M21.5B
2019-11-026B1.4B2.3B275.4M21.4B
2018-11-036.2B1.5B2.4B254.9M20.4B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue11BRevenueFromContractWithCustomerExcludingAssessedTax2025-11-25
netIncome2.3BNetIncomeLoss
Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income.
2025-11-25
Parent/common earnings proxy2.3BNetIncomeLoss2025-11-25
cfo4.8BNetCashProvidedByUsedInOperatingActivities2025-11-25
capex533.6MPaymentsToAcquirePropertyPlantAndEquipment2025-11-25
operatingIncome2.9BOperatingIncomeLoss2025-11-25
assets48BAssets2025-11-25
equity33.8BStockholdersEquity
Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income.
2025-11-25
Parent book equity proxy33.8BStockholdersEquity2025-11-25
debt8.1BLongTermDebtCurrent + LongTermDebtNoncurrent2025-11-25
shortDebt446.6MShortTermBorrowings2025-11-25
cash2.5BCashAndCashEquivalentsAtCarryingValue2025-11-25
shares496.7MWeightedAverageNumberOfDilutedSharesOutstanding2025-11-25
dividends1.9BPaymentsOfDividendsCommonStock2025-11-25
buybacks2.2BPaymentsForRepurchaseOfCommonStock2025-11-25
issuance108.9MReviewed manual correction
Bounded FY2025-11-01 consolidated financing-statement extraction. Proceeds from employee stock plans: 108913000 USD [us-gaap:ProceedsFromStockPlans]. All 9 financing lines reconcile exactly to reported financing cash flow -2982617000 USD. Cash inflows from common shares, employee plans and option exercises are summed once as displayed on the statement; noncash compensation, withholding payments, preferred and noncontrolling interests are excluded. This review applies only to this issuer and fiscal period. Source limitation: the statement also aggregates other financing cash flows (net 7833000 USD). Their common-equity portion is not separately disclosed here. Issuance is the sum of separately reported common cash-issuance lines, not an independently verified gross total; additional equity flows may be inside those aggregates.
2025-11-25