Analog Devices, Inc. (ADI)

NASDAQ: ADI · USD

$428

+3.11 (+0.7%)· Recorded snapshot

英語版にフォールバックJA

翻訳中のため英語版を表示しています

このレポートはまだ翻訳されていません。翻訳キューが追いついたら数分後に更新してください。

StockMarketAgent Research · Analyzed 2026-09-08

Our latest published analysis: ADI rated Sell

Analog Devices, Inc.'s published Sell conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$196 / share

Potential value

$382 / share

Upside to FV

-45.8%

from $428

Moat

1/10

None

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$175.5B
Revenue (ttm)	13.9B
Net income (ttm)	4.1B
EPS (ttm)	$8.42
Shares out	484.6M
P/E (trailing)	50.9x
P/E (forward)	21.5x
Dividend	$4.40 (1.03%)
Volume	2,408,906
Beta	1.23

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 13.9B
Net income (ttm): 4.1B
EPS (ttm): $8.42
P/E (trailing): 50.9x
P/E (forward): 21.5x
Market cap: $175.5B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-10-30	2022-10-29	2023-10-28	2024-11-02	2025-11-01	Trend
Revenue	$7.32B	$12.01B	$12.31B	$9.43B	$11.02B	+10.8%
Gross profit	$4.53B	$7.53B	$7.88B	$5.38B	$6.77B	+10.6%
Operating income	$1.69B	$3.28B	$3.82B	$2.03B	$2.93B	+14.7%
Net income	$1.39B	$2.75B	$3.31B	$1.64B	$2.27B	+13.0%
EPS (diluted)	$3.46	$5.25	$6.55	$3.28	$4.56	+7.1%
EBITDA	$2.59B	$5.60B	$6.17B	$4.20B	$5.03B	+18.1%
R&D	$1.30B	$1.70B	$1.66B	$1.49B	$1.77B	+8.0%
SG&A	$915.4M	$1.27B	$1.27B	$1.07B	$1.26B	+8.2%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
ABBV	AbbVie Inc.	505.6B	80.8x	7.9x	17.7%	+3.7%	+29.1%	売り
ABT	Abbott Laboratories	177.6B	38.2x	3.7x	7.2%	+2.7%	-17.2%	縮小
ACN	Accenture plc	144.3B	18.0x	2.0x	27.9%	+8.0%	+0.4%	ホールド
AAPL	Apple Inc.	5T	39.4x	10.8x	101.6%	+6.1%	+28.5%	売り
ADBE	Adobe Inc.	97.1B	13.9x	3.7x	57.2%	+11.5%	-30.7%	強い買い
AI	C3.ai, Inc.	2B	—	8.4x	-35.6%	+3.6%	-33.6%	売り

Base and Bull scenarios

Base55%

Price target

$196.19

-45.8% from spot

The base path is confirmed by sustained estimate delivery and positive industrial growth. Consecutive FY2027 estimate breaks would disconfirm it.

FY2026 and FY2027 expectations are broadly delivered before growth fades toward a mature rate.
Industrial growth remains positive as a future condition, and free cash flow stays positive to support obligations and distributions.

Bull20%

Price target

$382.12

+5.5% from spot

This path needs durable growth after direct annual forecast evidence ends. Industrial contraction or weakening estimates would cause the upside to fade.

Positive industrial and communications growth beyond FY2027 would support sales and cost absorption. Their FY2025 revenue bases show importance, not assured durability.
Upside fades if FY2027 revenue estimates remain below the cited low endpoint across consecutive snapshots, industrial revenue contracts across consecutive fiscal years, or free cash flow turns negative.

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($196.19). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	1.5%	2.0%	2.5%	3.0%	3.5%
7.7%	$232	$244	$258	$276	$298
8.7%	$204	$212	$222	$234	$248
9.7%	$183	$189	$196	$204	$214
10.7%	$166	$171	$176	$182	$189
11.7%	$153	$157	$161	$165	$170

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E21.5

P25 n/aP50 n/aP75 n/a

Trailing P/E43.1

P25 n/aP50 n/aP75 n/a

ROE12.2

P25 n/aP50 n/aP75 n/a

ROIC11

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All ADI indicators

Market & fundamental data

Available fields

296

Groups with data

Currency

USD

Showing 296 of 296 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0000006281
Company name	Analog Devices, Inc.
Country	United States
Country code	US
CUSIP number	032654105
Earnings date	2026-11-24
Earnings time	bmo
Employees	24,500
Employees change	500
Employees growth	2.08%
Enterprise value	$214.5B
Exchange	NASDAQ
Financial currency	USD
Financial report date	2026-08-01
First seen	2026-05-09
Fiscal year end	November
Founded	1965
In index	SP500, NASDAQ100
Industry	Semiconductors
IPO date	1972-04-03
Is primary listing	Yes
Is SPAC	No
ISIN number	US0326541051
Last 10-K release date	2025-11-25
Last earnings date	2026-08-19
Last refreshed	2026-10-28
Last stock split date	2000-03-16
Last stock split type	Forward
Market cap	$207.6B
Market cap category	Mega-Cap
Next earnings date	2026-11-24
Options	Yes
Price	$428.46
Price currency	USD
Sector	Technology
SIC code	3674
Stock price date	2026-10-28
Symbol	ADI
U.S. state	Massachusetts
Website	https://www.analog.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	38.05x
Average P/E ratio (10Y)	40.03x
Average P/E ratio (3Y)	51.75x
Average P/E ratio (5Y)	47.68x
Earnings yield	1.97%
EV/Earnings	51.26x
EV/EBIT	42.8x
EV/EBITDA	30.62x
EV/FCF	42.93x
EV/Sales	15.27x
FCF / EV yield	2.33%
FCF yield	2.41%
Forward EV/Sales	11.86x
Forward P/E	26.71x
Forward P/S	11.48x
Graham number	114.53898
Graham upside	-72.94%
Industry forward P/E	13.51x
Industry P/E	25.54x
Lynch fair value	$163.69
Lynch upside	-61.33%
P/(FCF - SBC) ratio	44.71x
P/(OCF - SBC) ratio	39.48x
P/B ratio	6.14x
P/E ratio	50.88x
P/FCF ratio	41.54x
P/OCF ratio	36.99x
P/S ratio	14.78x
PEG ratio	0.96x
Price/EBITDA ratio	29.63x
Sector forward P/E	18.86x
Sector P/E	32.77x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	35.67%
EBITDA margin	49.87%
Effective tax rate	12.09%
FCF margin	35.57%
Gross margin	65.8%
Operating margin	35.67%
Pretax margin	33.88%
Profit margin	29.79%
Profit per employee	$168,776
Profitable quarters	127
Profitable years	33
Revenue per employee	$566,602
ROA	6.41%
ROA (5Y)	3.96%
ROCE	11.58%
ROE	12.23%
ROE (5Y)	6.67%
ROIC	10.96%
ROIC (5Y)	6.91%
SBC / revenue	2.52%
Tax / revenue	4.1%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	114.28%
EPS growth (Q)	163.46%
EPS growth (QoQ)	14.17%
EPS growth 10Y	14.81%
EPS growth 3Y	4.6%
EPS growth 5Y	13%
EPS growth quarters	6
EPS growth years	1
FCF growth	34.23%
FCF growth (Q)	34.29%
FCF growth (QoQ)	98.59%
FCF growth 3Y	10.19%
FCF growth 5Y	17.29%
Gross profit growth	46.2%
Gross profit growth (Q)	51.28%
Gross profit growth 3Y	2.94%
Gross profit growth 5Y	15.59%
Net income growth	111.22%
Net income growth (Q)	158.45%
Net income growth (QoQ)	13.92%
Net income growth 3Y	3.29%
Net income growth 5Y	19.44%
Net income growth quarters	6
Net income growth years	1
OCF growth	33.23%
OCF growth (Q)	37.67%
OCF growth (QoQ)	83.93%
OCF growth 10Y	18.78%
OCF growth 3Y	5.08%
OCF growth 5Y	17.59%
Operating income growth	88.79%
Operating income growth (Q)	93.19%
Operating income growth 3Y	4.3%
Operating income growth 5Y	19.25%
Revenue growth	33.65%
Revenue growth (Q)	39.63%
Revenue growth (QoQ)	11%
Revenue growth 10Y	15.12%
Revenue growth 3Y	2.64%
Revenue growth 5Y	16.37%
Revenue growth quarters	6
Revenue growth years	1

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-607.8M
Depreciation and amortization	$2B
EBIT	$5B
EBITDA	$6.9B
EPS	$8.42
FCF per share	$10.19
Financing cash flow	$-4.6B
Free cash flow	$4.9B
Free cash flow minus SBC	$4.6B
Gross profit	$9.1B
Income taxes	$568.8M
Investing cash flow	$-1.1B
Net borrowing	$456.4M
Net cash flow	$-155.3M
Net income	$4.1B
Operating cash flow minus SBC	$5.2B
Operating income	$5B
Revenue	$13.9B
Stock-based compensation	$350.1M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	7.2
Book value per share	$69.24
Debt / EBITDA	1.31
Debt / equity	0.27
Debt / FCF	1.86
Goodwill	$28B
Interest coverage	14.11
Long-term assets	$41.4B
Long-term liabilities	$9.2B
Net cash (debt)	$-6.8B
Net cash / market cap	-3.33%
Net debt / EBITDA	0.99
Net debt / equity	0.2
Net debt / FCF	1.39
Piotroski F-Score	7
Property, plant and equipment	$3.4B
Shareholders' equity	$33.6B
Tangible book value	$-1.9B
Tangible book value per share	$-3.93
Total assets	$48.4B
Total cash	$2.3B
Total debt	$9.2B
Total liabilities	$14.9B
WACC	10.7%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.29
Current assets	$7.1B
Current liabilities	$5.7B
Current ratio	1.25
Inventory turnover	2.69
Net working capital	$1.5B
Quick ratio	0.83
Working capital	$1.4B
Working capital turnover	5.18

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	1.41%
Dividend growth	10.28%
Dividend growth (10Y)	9.96%
Dividend growth (3Y)	8.7%
Dividend growth (5Y)	9.78%
Dividend growth years	22
Dividend payment date	2026-09-15
Dividend payment years	24
Dividend payout frequency	Quarterly
Dividend per share	$4.40
Dividend yield	1.03%
Ex-dividend date	2026-09-01
FCF payout ratio	43.18%
Last dividend	$1.10
Payout ratio	52.25%
Shareholder yield	2.45%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	571.11%
10Y return CAGR	23.23%
10Y total return	707.14%
150-day SMA	$386.87
15Y price change	1,039.89%
15Y return CAGR	20.23%
15Y total return	1,485.84%
1D price change	0.73%
1M price change	7.88%
1M total return	7.88%
1W price change	6.94%
1W total return	6.94%
1Y price change	74.73%
1Y return CAGR	76.98%
1Y total return	76.92%
20-day SMA	$406.98
200-day SMA	$370.83
20Y price change	1,263.99%
20Y return CAGR	16.66%
20Y total return	2,079.56%
3M price change	14.18%
3M total return	14.52%
3Y price change	164.44%
3Y return CAGR	40.45%
3Y total return	177.1%
50-day SMA	$386.33
50-day SMA vs 200-day SMA	50over200
52-week high	$445.91
52-week high date	2026-06-22
52-week low	$223.47
52-week low date	2025-11-07
5Y price change	149.1%
5Y return CAGR	22.05%
5Y total return	170.8%
6M price change	8.16%
6M total return	8.78%
After-hours change	-0.04%
After-hours close	$428.46
After-hours price	$428.27
All-time high	$445.91
All-time high date	2026-06-22
All-time low	$0.38
All-time low date	1979-04-09
Average true range (ATR)	$13.50
Average volume	3.3M
Beta (1Y)	1.76
Beta (2Y)	1.59
Beta (5Y)	1.23
Change from 52-week high	-3.91%
Change from 52-week low	91.73%
Change from all-time high	-4.78%
Change from all-time low	110,938.18%
Change from open	1.32%
Day's gap	-0.58%
Dollar volume	$1B
High price	$429.63
Low price	$420.45
Monthly RSI	70.33
Open price	$422.87
Position in 52-week range	87.25%
Premarket change	-0.84%
Premarket close	$425.35
Premarket price	$421.79
Premarket volume	9.4K
Previous close	$425.35
Price vs 150-day SMA	9.76%
Price vs 20-day SMA	4.33%
Price vs 200-day SMA	14.5%
Price vs 50-day SMA	9.91%
Relative volume	0.73
RSI	62.96
Sharpe ratio	1.64
Sharpe ratio (3Y)	1
Sharpe ratio (5Y)	0.61
Sortino ratio	2.7
Sortino ratio (3Y)	1.71
Sortino ratio (5Y)	1.1
Volume	2.4M
Weekly RSI	62.76
YTD price change	56.57%
YTD total return	57.97%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	482.9M
Float percentage	99.65%
Shares change (QoQ)	-0.33%
Shares change (YoY)	-1.41%
Shares held by insiders	0.21%
Shares held by institutions	92.41%
Shares outstanding	484.6M
Short % of float	2.06%
Short % of shares	2.05%
Short ratio	3 days

Other indicators

Additional ticker metrics that do not fit the primary research groupings.

Metric	Value
Page views	138

Deeper analysis on ADI

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this ADI report

What is the latest published ADI stock rating?

Analog Devices, Inc. is shown with Sell in the latest published report, analyzed 2026-09-08. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full ADI analysis?

The full latest published report, analyzed 2026-09-08, lives at /stocks/ADI/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for ADI?

The latest published report analyzed 2026-09-08 gives ADI a fair value of USD 196 and a potential value of USD 382. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the ADI page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-09-08). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

SellADI · Fair value $196-45.8%

Read full analysis →

Category	Score	Reading
Valuation	1.5
Management	6.5
Balance Sheet	7.0
Profitability	6.5
Revenue Growth	9.0
Risk Assessment	7.5
Competitive Moat	1.0
Earnings Quality	9.0
Capital Efficiency	3.5

Analog Devices, Inc. (ADI)

Our latest published analysis: ADI rated Sell

Price

Financial snapshot

Fair-value bridge

Latest news · ADI

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All ADI indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Other indicators

Deeper analysis on ADI

Frequently asked questions

レーティング履歴