Analog Devices, Inc. (ADI) Income Statement
ADI FY2025 at a glance
Fiscal year ended October 31, 2025 · U.S. dollarsADI revenue and net income
Where ADI's revenue goes
FY2025Each bar shows an amount and its share of revenue. ADI kept 20.6% of revenue as net income.
ADI profit margins
ADI growth rates
to FY2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +16.9% | −2.8% | +14.5% | +12.4% |
| Gross profit | +25.9% | −4.6% | +12.9% | +11.6% |
| Operating income | +44.3% | −3.7% | +14.4% | +13.4% |
| Net income | +38.7% | −6.2% | +13.2% | +12.5% |
| EPS (diluted) | +22.1% | −6.7% | +9.7% | +9.4% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
ADI quarterly EPS vs estimates
Analog Devices beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: November 24, 2026 (estimate $3.87).
ADI income statement
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $11.02B | $9.43B | $12.31B | $12.01B | $7.32B | $5.60B | $5.99B | $6.22B | $5.25B | $3.42B |
| Cost of revenue | $4.25B | $4.05B | $4.43B | $4.21B | $2.46B | $1.91B | $1.98B | $1.97B | $1.72B | $1.19B |
| Gross profit | $6.77B | $5.38B | $7.88B | $7.80B | $4.86B | $3.69B | $4.01B | $4.25B | $3.53B | $2.23B |
| Research & development | $1.77B | $1.49B | $1.66B | $1.70B | $1.30B | $1.05B | $1.13B | $1.17B | $968.1M | $653.8M |
| Sales, general & admin | $1.26B | $1.07B | $1.27B | $1.27B | $915.4M | $659.9M | $648.1M | $695.5M | $690.5M | $461.4M |
| Total operating expenses | $3.84B | $3.35B | $4.05B | $4.53B | $3.16B | $2.19B | $2.30B | $2.35B | $2.36B | $1.20B |
| Operating income | $2.93B | $2.03B | $3.82B | $3.28B | $1.69B | $1.50B | $1.71B | $1.90B | $1.16B | $1.03B |
| Interest income | $105.3M | $78.8M | $41.3M | $6.9M | $1.2M | $4.3M | $10.2M | $9.4M | $30.3M | $21.2M |
| Interest expense | $317.7M | $322.2M | $264.6M | $200.4M | $184.8M | $193.3M | $229.1M | $253.6M | $250.8M | $88.8M |
| Income before taxes | $2.71B | $1.78B | $3.61B | $3.10B | $1.33B | $1.31B | $1.49B | $1.66B | $934.7M | $956.9M |
| Income taxes | $444.8M | $142.1M | $293.4M | $350.2M | −$61.7M | $90.9M | $122.7M | $148.3M | $129.4M | $95.3M |
| Net income | $2.27B | $1.64B | $3.31B | $2.75B | $1.39B | $1.22B | $1.36B | $1.51B | $805.4M | $861.7M |
| EBITDA | $5.03B | $4.20B | $6.17B | $5.60B | $2.59B | $2.32B | $2.53B | $2.71B | $1.77B | $1.26B |
| EPS (diluted) | $7.79 | $6.38 | $10.08 | $9.59 | $6.43 | $4.91 | $5.14 | $5.95 | $4.68 | $3.07 |
| Gross margin | 61.5% | 57.1% | 64.0% | 65.0% | 66.4% | 65.9% | 67.0% | 68.3% | 67.2% | 65.1% |
| Operating margin | 26.6% | 21.6% | 31.1% | 27.3% | 23.1% | 26.7% | 28.6% | 30.5% | 22.2% | 30.0% |
| Net margin | 20.6% | 17.3% | 26.9% | 22.9% | 19.0% | 21.8% | 22.8% | 24.2% | 15.4% | 25.2% |
| Jul '26 | Apr '26 | Jan '26 | Oct '25 | Jul '25 | Apr '25 | Jan '25 | Oct '24 | Jul '24 | Apr '24 | Jan '24 | Oct '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.02B | $3.62B | $3.16B | $3.08B | $2.88B | $2.64B | $2.42B | $2.44B | $2.31B | $2.16B | $2.51B | $2.72B |
| Cost of revenue | $1.31B | $1.18B | $1.12B | $1.13B | $1.09B | $1.03B | $992.9M | $1.03B | $1.00B | $979.0M | $1.04B | $1.07B |
| Gross profit | $2.71B | $2.44B | $2.04B | $1.94B | $1.79B | $1.61B | $1.43B | $1.42B | $1.31B | $1.18B | $1.47B | $1.65B |
| Research & development | $533.5M | $509.3M | $467.4M | $467.0M | $454.3M | $441.8M | $402.9M | $378.9M | $362.7M | $354.9M | $391.4M | $406.6M |
| Sales, general & admin | $397.3M | $362.8M | $345.3M | $342.2M | $325.7M | $302.7M | $284.8M | $277.2M | $257.2M | $244.1M | $290.1M | $288.9M |
| Total operating expenses | $1.09B | $1.06B | $1.05B | $996.6M | $971.7M | $933.7M | $939.0M | $846.7M | $819.9M | $793.9M | $888.0M | $1.01B |
| Operating income | $1.61B | $1.38B | $997.0M | $945.2M | $818.0M | $677.9M | $491.3M | $569.4M | $491.3M | $386.1M | $586.0M | $634.4M |
| Interest income | $25.4M | $28.6M | $32.3M | $33.0M | $27.1M | $21.7M | $23.5M | $27.9M | $26.4M | $15.3M | $9.2M | $9.1M |
| Interest expense | $88.7M | $87.6M | $86.3M | $88.2M | $79.6M | $74.7M | $75.3M | $82.8M | $85.2M | $77.1M | $77.1M | $71.6M |
| Income before taxes | $1.55B | $1.32B | $945.9M | $887.2M | $763.4M | $625.9M | $435.6M | $516.3M | $423.0M | $324.6M | $513.4M | $571.8M |
| Income taxes | $205.8M | $148.5M | $115.0M | $99.5M | $244.9M | $56.2M | $44.3M | $38.3M | $30.8M | $22.4M | $50.7M | $73.4M |
| Net income | $1.34B | $1.18B | $830.8M | $787.7M | $518.5M | $569.8M | $391.3M | $478.1M | $392.2M | $302.2M | $462.7M | $498.4M |
| EBITDA | $2.13B | $1.90B | $1.52B | $1.47B | $1.33B | $1.20B | $1.03B | $1.12B | $1.04B | $930.0M | $1.12B | $1.18B |
| EPS (diluted) | $3.45 | $3.09 | $2.46 | $2.26 | $2.05 | $1.85 | $1.63 | $1.67 | $1.58 | $1.40 | $1.73 | $2.01 |
| Gross margin | 67.3% | 67.3% | 64.7% | 63.1% | 62.1% | 61.0% | 59.0% | 58.0% | 56.7% | 54.7% | 58.7% | 60.6% |
| Operating margin | 40.1% | 38.1% | 31.5% | 30.7% | 28.4% | 25.7% | 20.3% | 23.3% | 21.2% | 17.9% | 23.3% | 23.4% |
| Net margin | 33.3% | 32.5% | 26.3% | 25.6% | 18.0% | 21.6% | 16.1% | 19.6% | 17.0% | 14.0% | 18.4% | 18.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in ADI's financial statements (latest annual report filed November 25, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
ADI financial results
In fiscal year 2025 (ended October 31, 2025), Analog Devices reported revenue of $11.0 billion, up 16.9% from the year before. It had net income of $2.3 billion (up 38.7%), a net profit margin of 20.6%. Diluted earnings per share came to $7.79. Over five years revenue grew at an average rate of 14.5% a year.
See the ADI stock overview for the latest quote and news, or the ADI chart for price history and technical indicators.
ADI income statement FAQ
What is Analog Devices's annual revenue?
Analog Devices reported total revenue of $11.0 billion for fiscal year 2025, which ended on October 31, 2025. That was up 16.9% from $9.4 billion the previous year.
Is Analog Devices profitable?
Yes. Analog Devices reported net income of $2.3 billion in fiscal 2025, a net profit margin of 20.6%; its operating margin was 26.6%.
What is Analog Devices's gross margin?
Analog Devices's gross margin was 61.5% in fiscal 2025: for every $100 of revenue, Analog Devices kept $61 after the direct cost of its products and services.
How much does Analog Devices spend on research and development?
Analog Devices spent $1.8 billion on research and development in fiscal 2025, 16.0% of revenue.
How fast is Analog Devices growing?
Revenue grew 14.5% a year on average over the last five fiscal years, from $5.6 billion to $11.0 billion.
What are Analog Devices's earnings per share?
Analog Devices earned $7.79 per diluted share in fiscal 2025, compared with $6.38 a year earlier.
When will Analog Devices report its next earnings?
Analog Devices is expected to report results for the quarter ending October 31, 2026 on November 24, 2026 before the market opens.
When does Analog Devices's fiscal year end?
Analog Devices's fiscal year ends in October. The latest annual report covers the year ended October 31, 2025 and was filed on November 25, 2025.