Analog Devices Reports Strong Fourth Quarter and Fiscal 2025 Financial Results

Analog Devices, Inc., a global semiconductor leader, has released its financial results for the fourth quarter and fiscal year 2025, ending November 1, 2025. The company reported robust growth across all end markets, with significant contributions from the Communications and Industrial sectors.

Financial Highlights

For the fourth quarter, Analog Devices reported revenue of $3.08 billion, a 26% increase compared to the same period in 2024. The fiscal year 2025 revenue reached $11.0 billion, marking a 17% growth from the previous year. The company's operating cash flow for the fiscal year was $4.8 billion, with free cash flow at $4.3 billion, representing 44% and 39% of revenue, respectively. Notably, 96% of the free cash flow was returned to shareholders through $2.2 billion in share repurchases and $1.9 billion in dividends.

Business and Operational Highlights

Analog Devices experienced healthy booking trends in the fourth quarter, particularly in the Industrial and Communications markets. The company's gross margin for the quarter was $1.94 billion, up 37% year-over-year, with a gross margin percentage of 63.1%. Operating income for the quarter was $945 million, a 66% increase from the previous year, and the operating margin improved to 30.7%.

Strategic Initiatives and Corporate Developments

During fiscal 2025, Analog Devices focused on returning value to shareholders, repurchasing $2.2 billion in shares and paying $1.9 billion in dividends. The company also declared a quarterly cash dividend of $0.99 per share, payable on December 22, 2025.

Management's Perspective

Vincent Roche, CEO and Chair, highlighted the company's strong performance, attributing it to the resilience of their business model and commitment to leveraging superior technology. CFO Richard Puccio noted the continued growth in bookings and expressed confidence in the company's ability to capitalize on cyclical recovery and secular growth opportunities despite macroeconomic uncertainties.

Future Outlook

For the first quarter of fiscal 2026, Analog Devices forecasts revenue of $3.1 billion, with an expected operating margin of approximately 31.0% and adjusted operating margin of 43.5%. The company anticipates reported EPS to be $1.60 and adjusted EPS to be $2.29.

Original SEC Filing: ANALOG DEVICES INC [ ADI ] - 8-K - Nov. 25, 2025