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Analog Devices

Analog Devices (ADI) Q4 2025 Earnings

Reported Nov 25, 2025 at 7:03 AM ET · SEC Source

Q4 25 EPS

$2.26

BEAT +1.35%

Est. $2.23

Q4 25 Revenue

$3.08B

BEAT +1.97%

Est. $3.02B

vs S&P Since Q4 25

+46.8%

BEATING MARKET

ADI +57.4% vs S&P +10.5%

Full Year 2025 Results

FY 25 EPS

$7.79

FY 25 Revenue

$11.02B

Market Reaction

Did ADI Beat Earnings? Q4 2025 Results

Analog Devices closed out fiscal 2025 on a strong note, posting fourth-quarter revenue of $3.08 billion, up 25.9% year-over-year and ahead of the $3.02 billion consensus, while adjusted diluted EPS of $2.26 edged past the $2.23 estimate by 1.13%. The… Read more Analog Devices closed out fiscal 2025 on a strong note, posting fourth-quarter revenue of $3.08 billion, up 25.9% year-over-year and ahead of the $3.02 billion consensus, while adjusted diluted EPS of $2.26 edged past the $2.23 estimate by 1.13%. The quarter's momentum was broad-based, with Communications and Industrial markets leading the recovery, the former growing 37% year-over-year, helping drive GAAP operating margin expansion of 740 basis points to 30.7%. Cash generation reinforced the headline results, with free cash flow of $1.49 billion representing 48% of revenue, enabling the company to return $1.17 billion to shareholders in the quarter alone through buybacks and dividends. UBS lifted its price target to $320 following the results, reflecting continued confidence in the cyclical and secular tailwinds supporting ADI's growth trajectory. Looking ahead, management guided Q1 fiscal 2026 revenue to $3.10 billion, plus or minus $100 million, with adjusted EPS of $2.29, signaling steady demand even as macro and trade-related uncertainties temper the outlook for the full fiscal year.

Key Takeaways

  • • Year-over-year revenue growth across all four end markets
  • • Communications and Industrial markets led Q4 growth at 37% and 34% YoY respectively
  • • Gross margin expansion of 510 basis points YoY to 63.1% GAAP
  • • Adjusted operating margin expanded 240 bps YoY to 43.5%
  • • Healthy bookings trends continued in Q4
  • • Operating cash flow reached 55% of revenue in Q4
24/7 Wall St

ADI YoY Financials

Q4 2025 vs Q4 2024, source: SEC Filings

24/7 Wall St

ADI Revenue by Segment

With YoY comparisons, source: SEC Filings

Q3 25 Q2 26

“ADI's strong fourth quarter capped a robust year of both cyclical and idiosyncratic growth. These results reflect the strength and resilience of our business model, and our intense commitment to leveraging superior technology and domain expertise to solve our customers' toughest problems. Our keen focus on our customers' market success has enabled us to build a deep trust that pays dividends in the form of strong, profitable growth and a fast-growing design pipeline. As such, we remain firmly confident in our ability to deliver sustained, long-term value for shareholders.”

— Vincent Roche, Q4 2025 Earnings Press Release

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