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Fundamentals · EDGAR XBRL · Information Technology

ADI

Latest: Q3 FY26 · Thesis page →
Revenue$4.0B+39.6% YoY
Net income$1.3B+158.5% YoY
Free cash flow$1.5B+34.3% YoY
Gross margin67.3%+5.2 pts vs a year ago

Revenue vs Net income

Reported dollars from 10-Q / 10-K filings. Q4 bars are derived (annual less nine months) where the 10-K does not tag Q4 separately.

■ Revenue   ■ Net income
$0$1.4B$2.9B$4.3BQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26

Margin trend

Gross, operating and net margin. Margins are derived from reported dollars.

● Gross margin   ● Operating margin   ● Net margin
8%31%53%75%Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26

Revenue YoY growth

Year-over-year change vs the same quarter (or fiscal year) a year earlier. Shown where the prior-year period is in the 8-quarter snapshot (latest four quarters).

+26%+30%+37%+40%Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26

Income statement

From 10-Q / 10-K XBRL. Values in reported dollars; EPS in $/share; share counts in shares.

Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Revenue$2.4B$2.4B$2.6B$2.9B$3.1B$3.2B$3.6B$4.0B
YoY————+25.9%+30.4%+37.2%+39.6%
Cost of goods sold$1.0B$992.9M$1.0B$1.1B$1.1B$1.1B$1.2B$1.3B
YoY————+10.4%+12.3%+15.1%+20.5%
Gross profit$1.4B$1.4B$1.6B$1.8B$1.9B$2.0B$2.4B$2.7B
YoY————+37.1%+43.0%+51.4%+51.3%
Research & development$378.9M$402.9M$441.8M$454.3M$467.0M$467.4M$509.3M$533.5M
YoY————+23.3%+16.0%+15.3%+17.4%
Selling, general & administrative$277.2M$284.8M$302.7M$325.7M$342.2M$345.3M$362.8M$397.3M
YoY————+23.4%+21.2%+19.9%+22.0%
Operating income$569.4M$491.3M$677.9M$818.0M$945.2M$997.0M$1.4B$1.6B
YoY————+66.0%+102.9%+103.5%+97.2%
Pretax income$516.3M$435.6M$625.9M$763.4M$887.2M$945.9M$1.3B$1.5B
YoY————+71.8%+117.1%+111.7%+102.5%
Income tax$38.3M$44.3M$56.2M$244.9M$99.5M$115.0M$148.5M$205.8M
YoY————+159.8%+159.6%+164.2%-16.0%
Net income$478.1M$391.3M$569.8M$518.5M$787.7M$830.8M$1.2B$1.3B
YoY————+64.8%+112.3%+106.4%+158.5%
EPS — basic—$0.79$1.15$1.05—$1.70$2.41$2.76
YoY—————+115.2%+109.6%+162.9%
EPS — diluted—$0.78$1.14$1.04—$1.69$2.40$2.74
YoY—————+116.7%+110.5%+163.5%
Weighted shares — basic—496.1M496.2M494.4M—488.9M487.6M486.0M
Weighted shares — diluted—498.7M498.2M496.7M—491.7M490.5M488.8M

Balance sheet

Point-in-time values at each quarter (or fiscal year) end.

Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Cash & equivalents$2.0B$2.4B$2.4B$2.3B$2.5B$2.9B$2.4B$2.2B
YoY————+25.5%+23.7%+2.6%-6.7%
Marketable securities (current)————————
YoY————————
Accounts receivable$1.3B$1.2B$1.4B$1.6B$1.4B$1.4B$2.1B$2.4B
YoY————+7.5%+14.1%+48.4%+53.8%
Inventory$1.4B$1.5B$1.5B$1.6B$1.7B$1.8B$1.8B$1.9B
YoY————+14.4%+19.8%+21.2%+21.0%
Total current assets$5.5B$5.7B$5.6B$6.9B$7.1B$7.6B$7.8B$7.1B
YoY————+29.6%+32.6%+39.7%+2.1%
Total assets$48.2B$48.0B$47.3B$48.2B$48.0B$48.0B$47.9B$48.4B
YoY————-0.5%+0.0%+1.3%+0.5%
Total current liabilities$3.0B$3.0B$2.7B$3.0B$3.2B$4.3B$4.5B$5.7B
YoY————+8.6%+45.8%+65.6%+89.9%
Total liabilities————————
YoY————————
Total equity$35.2B$35.1B$35.0B$34.1B$33.8B$33.8B$33.7B$33.6B
YoY————-3.9%-3.7%-3.6%-1.6%
Shares outstanding496.3M496.0M496.2M492.0M489.7M488.2M487.1M484.6M
YoY————-1.3%-1.6%-1.8%-1.5%

Cash flow

Quarterly values derived from year-to-date filings (Q4 from the 10-K). Free cash flow = operating cash flow − capital expenditures.

Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Operating cash flow$1.1B$1.1B$819.5M$1.2B$1.7B$1.4B$872.0M$1.6B
YoY————+61.9%+21.5%+6.4%+37.7%
Capital expenditures$165.4M$149.0M$90.3M$79.2M$215.2M$109.3M$137.7M$145.7M
YoY————+30.1%-26.6%+52.5%+84.0%
Free cash flow$885.4M$977.8M$729.2M$1.1B$1.5B$1.3B$734.3M$1.5B
YoY————+67.8%+28.8%+0.7%+34.3%
Dividends paid————————
YoY————————
Share repurchases$94.9M$160.4M$248.6M$1.1B$680.5M$516.5M$772.9M$1.2B
YoY————+617.1%+222.0%+210.9%+7.6%

Margins & ratios

Derived from the reported dollars above — no separate source.

Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Gross margin58.0%59.0%61.0%62.1%63.1%64.7%67.3%67.3%
Operating margin23.3%20.3%25.7%28.4%30.7%31.5%38.1%40.1%
Net margin19.6%16.1%21.6%18.0%25.6%26.3%32.5%33.3%
Free cash flow margin36.2%40.4%27.6%37.7%48.3%39.8%20.3%36.3%
Effective tax rate7.4%10.2%9.0%32.1%11.2%12.2%11.2%13.3%
Current ratio1.84x1.93x2.08x2.32x2.19x1.76x1.75x1.25x
Total liabilities / equity————————

Peer comparison — latest full year

Same sector (Information Technology), sorted by revenue. All figures from the same EDGAR XBRL snapshot.

TickerRevenueRevenue YoYGross marginOperating marginNet marginFCF margin
ADI FY25 · this stock$11.0B+16.9%61.5%26.6%20.6%38.8%
AAPL FY25$416.2B+6.4%46.9%32.0%26.9%23.7%
MSFT FY26$331.8B+17.8%67.9%46.8%40.3%20.2%
NVDA FY26$215.9B+65.5%71.1%60.4%55.6%—
MU FY26$133.2B+256.3%80.7%74.6%63.8%44.3%
IBM FY25$67.5B+7.6%58.2%—15.7%17.9%
ORCL FY26$67.4B+17.3%—30.6%25.4%-35.2%
CSCO FY26$63.3B+11.8%64.5%24.3%21.0%20.2%
INTC FY25$52.9B-0.5%34.8%-4.2%-0.5%-9.4%
AVGO FY24$51.6B+44.0%63.0%26.1%—37.6%
QCOM FY25$44.3B+13.7%—27.9%12.5%—

Source: SEC EDGAR XBRL company facts (10-Q / 10-K), snapshot generated 2026-11-03 for 218 tickers. Q4 values are derived as the 10-K annual less the first nine months, since Q4 is not separately tagged in company facts; cash-flow quarterly values are derived from year-to-date filings the same way. Free cash flow = operating cash flow − capital expenditures. Blank cells mean the filing does not report that line item under a standard US-GAAP tag — nothing is estimated or filled in. Descriptive research, not investment advice. How EarnIQ builds fundamentals.