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How Analog Devices (ADI) makes money: Q3 2026 revenue breakdown
US GAAP · $M · vs Q3 2025 · reported 08/19/2026
Analog Devices, Inc. (ADI), also known simply as Analog, is an American multinational semiconductor company specializing in data conversion, signal processing, and power management technology, headquartered in Wilmington, Massachusetts. · Wikipedia
Key growth driver: Industrial — the fastest-growing revenue line: $1,972, +53% y/y. · by the Q3 2026 report
How does Analog Devices make money?
Analog Devices brought in $4.02 billion of revenue in Q3 2026, up 40% year over year. The largest source was Industrial: $1.97 billion, or 49% of the total, followed by Automotive ($998M, 25%) and Communications ($655M, 16%); other lines add the remaining 10%. Net income for the quarter was $1.34 billion, up 158% year over year.
Revenue by source, Q3 2026
- Industrial$1.97B · 49% · +53%
- Automotive$998M · 25% · +16%
- Communications$655M · 16% · +84%
- Consumer$397M · 10% · +6%
Shares of $4.02B total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
When is ADI’s next earnings date?
Tuesday, November 24, 2026estimated
Analog Devices (ADI) has not confirmed the date yet; Nov 24, 2026 is an estimate based on the company's past reporting schedule and may move once the date is announced. Consensus EPS forecast: $3.87 (8 analysts), vs $2.26 in the same quarter last year.
What time does ADI report? Usually before market open: the last 4 results releases reached the SEC at 7:03 am, 7:01 am, 7:02 am, 7:03 am ET.
Last report: Aug 19, 2026 (Q3 2026) — broken down in the Sankey chart below. Dates and consensus: Nasdaq / Zacks Investment Research; companies do reschedule. Who else reports this week →
All figures in $M.
Revenue
$4,022
+40%
Gross profit
$2,708
+51%
67.3% margin
Operating income
$1,613
+97%
40.1% margin
Net income
$1,340
+158%
$2.74 diluted EPS
Verdict: a record, broad-based quarter — revenue up 40% and net income up 158% y/y driven by Industrial (+53%) and Communications (+84%), with margin expansion far outpacing sales growth even as heavy amortization from acquisitions keeps GAAP earnings well below adjusted results.
TTM operating cash flow $5,545M (40% of revenue) and free cash flow $4,937M (36%); $1,692M returned to shareholders in Q3 via $535M dividends and $1,157M buybacks; Q4 FY26 guide: revenue $4.3B ±$100M, adjusted EPS $3.86 ±$0.15.
Source and notation
* marks non-cash / ≈ estimated. Source: Analog Devices press release / 10-Q (SEC EDGAR).
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
ADI earnings history: past report dates
| Aug 19, 2026 Wed | 7:03 ambefore market open | Aug 1, 2026 | $4.0B+40% y/y | $2.74+163% y/y |
| May 20, 2026 Wed | 7:01 ambefore market open | May 2, 2026 | $3.6B+37% y/y | $2.40+111% y/y |
| Feb 18, 2026 Wed | 7:02 ambefore market open | Jan 31, 2026 | $3.2B+30% y/y | $1.69+117% y/y |
| Nov 25, 2025 Tue | 7:03 ambefore market open | Nov 1, 2025 | ≈$3.1B+26% y/y | ≈$1.60+68% y/y |
| Aug 20, 2025 Wed | 7:02 ambefore market open | Aug 2, 2025 | $2.9B+25% y/y | $1.04+32% y/y |
| May 22, 2025 Thu | 7:04 ambefore market open | May 3, 2025 | $2.6B+22% y/y | $1.14+87% y/y |
| Feb 19, 2025 Wed | 7:11 ambefore market open | Feb 1, 2025 | $2.4B−4% y/y | $0.78−16% y/y |
| Nov 26, 2024 Tue | 7:04 ambefore market open | Nov 2, 2024 | ≈$2.4B−10% y/y | ≈$0.95−6% y/y |
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
Analog Devices: 5-year financials
| FY2025 | 11,020 | 2,933 | 2,267 | 4,279 | 1,924 |
| FY2024 | 9,427 | 2,033 | 1,635 | 3,122 | 1,796 |
| FY2023 | 12,306 | 3,823 | 3,315 | 3,556 | 1,679 |
| FY2022 | 12,014 | 3,279 | 2,749 | 3,776 | 1,545 |
| FY2021 | 7,318 | 1,692 | 1,390 | 2,391 | 1,109 |
$ millions, annual 10-K reports on SEC EDGAR (US GAAP); the company’s fiscal year doesn’t match the calendar year so years follow the company’s own labels.
How we calculate
Figures are the annual report lines as filed, no adjustments. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing.
Corporate governance
1.5/2mostly good
How the company treats minority shareholders: 2 — well, 0 — systematically poorly.
More
- Nov 2025Diluted shares 372M (FY2020) → 523M (FY2022) after the all-stock acquisition of Maxim Integrated (08/2021) → 497M (FY2025). data.sec.gov ↗
- Nov 2025SBC of $0.32B = 2.9% of $11.0B revenue; Legal Proceedings in the 10-K lists no material cases. sec.gov ↗
- Nov 2025Per-share dividend: $2.97 (FY2022) → $3.89 (FY2025). data.sec.gov ↗
- Jan 20262026 proxy: ADI has no second share class and no controlling shareholder, and there were no related-party transactions. sec.gov ↗
Scoring: 2.0 −0.5 (criterion 1: one-off deal-related dilution — Maxim bought with stock in 2021, shares +33% over 5 years, at market; M&A cap −0.5) = 1.5
- Share classes
- Single class; the 2026 proxy states outright: "no second class and no controlling shareholder."
- Dilution
- Diluted shares 372M → 523M (FY2020→FY2022) due to the stock-funded Maxim acquisition; then down to 497M (FY2025); SBC 2.9% of revenue. M&A dilution at market → −0.5.
- Disclosure
- Full US GAAP reporting: 10-K and 10-Q filed on EDGAR on time.
- Dividends
- Dividend raised every year ($2.97 → $3.89 over FY2022–2025), plus buybacks.
- Lawsuits & regulators
- The FY2025 10-K lists no material litigation; no shareholder suits or SEC cases.
- Related parties
- Per the 2026 proxy, no reportable related-party transactions since the start of FY2025.
How the score works · checked as of Sep 2026
Analog Devices (ADI) earnings: FAQ
How does Analog Devices make money?
Analog Devices brought in $4.02 billion of revenue in Q3 2026, up 40% year over year. The largest source was Industrial: $1.97 billion, or 49% of the total, followed by Automotive ($998M, 25%) and Communications ($655M, 16%); other lines add the remaining 10%. Net income for the quarter was $1.34 billion, up 158% year over year.
When is ADI's next earnings date?
Analog Devices (ADI) has not confirmed the date yet; Nov 24, 2026 is an estimate based on its past reporting schedule.
What time does ADI report earnings?
Analog Devices usually reports before market open: its latest results release was filed with the SEC at 7:03 am ET on Aug 19, 2026.
When did ADI last report earnings?
Analog Devices reported Q3 2026 results on Aug 19, 2026.
What is the EPS estimate for ADI's next earnings?
The consensus EPS forecast is $3.87 (8 analysts), vs $2.26 in the same quarter last year.
Where can I find Analog Devices's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to ADI's filings; this page breaks the latest report down in a Sankey chart.
What was ADI's net income in Q3 2026?
Analog Devices reported net income of $1,340M for Q3 2026 (+158% year over year), under US GAAP.
Does Analog Devices pay dividends?
Yes. In fiscal 2025, Analog Devices paid $1,924M in dividends on its common stock, per its 10-K. Earlier years are in the five-year table above.
New to earnings reports? Start with how to read an earnings report.
How this page was made: the figures come from the company's own report on SEC EDGAR; the summary and nuances were drafted by our model from that report. Figures checked against the filing on 08/25/2026. How we make the breakdowns · Report an error
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