Analog Devices Q4 Earnings Top Estimates, Outlook Raised

Analog Devices Inc. (ADI) reported Q4 earnings on Nov. 25, 2025, that exceeded expectations. Management attributed the results and an above-consensus Q1 2026 outlook to resilient demand across industrial, automotive, and communications markets, along with technological progress.

Fourth Quarter and Fiscal Results

The company said in a press release on Nov. 25, 2025, that Q4 revenue reached $3.08 billion, up 26% year-over-year. Adjusted earnings per share were $2.26, surpassing the consensus range of $2.22 to $2.24, according to the earnings-call transcript.

Fiscal 2025 revenue totaled $11.0 billion, a 17% increase from 2024. Management told analysts that year-over-year growth in Q4 was broad-based, with all end markets advancing and Communications and Industrial leading the gains.

For Q1 2026, the company forecasted revenue and profit above analyst estimates, citing sustained demand across industrial, automotive, and communications markets and ongoing technological advances in its product lines.

The press release was issued at 7:01 a.m. ET, followed by a conference call at 10:00 a.m. ET on Nov. 25, 2025. The full earnings-call transcript was posted later that day.

Free Cash Flow and Returns

Analog Devices generated $4.3 billion in free cash flow for fiscal 2025, representing 39% of revenue, and $4.8 billion in operating cash flow, equal to 44% of revenue, the company said in its press release.

The company returned $4.1 billion to shareholders in fiscal 2025, amounting to 96% of free cash flow. This included $2.2 billion in share repurchases and $1.9 billion in dividends.

No material regulatory actions, approvals, or pending mergers and acquisitions were disclosed in the press release or during the earnings call.

Management linked the earnings beat and the above-consensus outlook to continued end-market momentum and technological progress, signaling confidence as ADI enters 2026 while maintaining substantial capital returns.