Analog Devices, Inc. · ADI · FY2025 Q4 · Calendar Q4 2025

ADI posts strong FY2025 as AI and industrial demand broaden

The current analysis supports the hypothesis that earnings growth and resilient demand can underpin the company’s outlook over the next year: management reported broad-based secular demand, stronger margins, record free cash flow, and raised guidance sentiment. The evidence is constructive but not conclusive because tariffs, macro uncertainty, short lead times, and questions about gross-margin leverage could test durability.

Reported Before market openNASDAQTechnology $187.64B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $2.26 Consensus $2.24
EPS surprise +0.9% Reported versus consensus
Reported revenue $3.08B Consensus $3.00B
Revenue surprise +2.4% Reported versus consensus

Market reaction

prior-close to event-session close
Stock move +5.3% Event window
SPY move +0.9% Same window
Abnormal move +4.3% Stock minus SPY
Volume 2.0× Versus trailing sessions
Subsequent drift +10.1% Up to 20 sessions
ADISPY benchmark

Ask FN2 about ADI FY2025 Q4

Transcript, numbers and history already loaded
Why did ADI rise 5.3% after beating EPS estimates in FY2025 Q4?What changed in ADI's guidance and outlook in FY2025 Q4?Give me the bull and bear case for ADI after FY2025 Q4 earnings.

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Transcript intelligence

What changed

Compared with the prior analysis, the current analysis shows a stronger operating picture: guidance sentiment moved from maintained to raised, margins expanded, and management emphasized record free cash flow, Maxim synergies, and a data-center run-rate supported by AI and ATE demand.

Guidance delta

Management guidance sentiment changed from maintained in the prior analysis to raised in the current analysis.

Key takeaways

  • Revenue and earnings exceeded the outlook, with 17% top-line growth and EPS up 22% year over year.
  • Management highlighted AI infrastructure, data-center, automotive ADAS, industrial automation, and healthcare robotics demand.
  • Margin expansion, record free cash flow, Maxim synergies, and continued R&D support the growth case, while tariffs and macro uncertainty remain risks.

Management priorities

  • Scale capacity and resiliency following the Maxim integration
  • Launch the E2B Ethernet bus and expand the Acoustics platform
  • Accelerate AI/ML-enhanced analog and digital product development
  • Continue R&D and product investment across secular growth markets

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Earnings History

Estimate Beat Miss Match
ADI REVENUE earnings history estimate and actual scatter chart 9 reported fiscal quarters and 2 future estimate-only quarters. Q1 '24 estimate $2B Q1 '24 actual $3B, beat Q2 '24 estimate $2B Q2 '24 actual $2B, beat Q3 '24 estimate $2B Q3 '24 actual $2B, beat Q3 '25 estimate $3B Q3 '25 actual $3B, beat Q4 '25 estimate $3B Q4 '25 actual $3B, beat Q1 '26 estimate $3B Q1 '26 actual $3B, beat Q2 '26 estimate $4B Q2 '26 actual $4B, beat Q3 '26 estimate $4B Q3 '26 actual $4B, beat Q4 '26 estimate $4B Q1 '27 estimate $4B
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Analyst Consensus ?

ConsensusBuy53 ratings
Bullish4483.0%
Neutral917.0%
Bearish00.0%

Analyst 52W Price Targets

$382.61Current
$170Low
$368.51Average
$675High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 24, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
TD Cowen Buy BuyMaintainSep 8, 2026
Baird Outperform OutperformMaintainAug 24, 2026
BMO Capital Outperform OutperformMaintainAug 21, 2026
Wells Fargo Overweight OverweightMaintainAug 20, 2026
Seaport Global Buy NeutralUpgradeAug 20, 2026
Show 48 more rating actions

Named analyst price targets

Upside is calculated against the persisted current price $382.61. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
Piper SandlerAnalyst unavailable$460$365.79 +20.2%Sep 8, 2026
Robert W. BairdTristan Gerra$675$373.09 +76.4%Aug 24, 2026
BMO CapitalHarsh Kumar$430$370.24 +12.4%Aug 20, 2026
Seaport GlobalJay Goldberg$425$373.26 +11.1%Aug 20, 2026
NeedhamQuinn Bolton$450$373.26 +17.6%Aug 20, 2026
See 120 more

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Company context

Snapshot as of publication

Analog Devices, Inc. (ADI) is a technology leader specializing in the conception, production, validation, and global marketing of integrated circuits (ICs), software solutions, and advanced subsystems. Their offerings leverage sophisticated analog, mixed-signal, and digital signal processing technologies. The company's comprehensive product lineup features data converters, which are critical for transforming real-world analog signals into digital data and subsequently converting digital data back into analog signals. They also provide power management and reference devices, essential for power conversion, driver supervision, system sequencing, and energy optimization in industries such as automotive, telecommunications, industrial applications, and premium consumer markets. These power ICs are supported by integrated performance, integration, and software design simulation tools for precise power supply development.…

Historical context

All ADI earnings
-0.9%FY2026 Q3 · Calendar Q3 2026-3.9%FY2026 Q2 · Calendar Q2 2026

Technology peers this season

Latest reports in the same sector
CompanyQuarterEPS surpriseMarket moveHeadline
SNX TD Synnex Corp FY2026 Q3 · Calendar Q3 2026 — -9.8% TD SYNNEX Reaffirms Outlook as AI and Hyve Drive Growth
ADBE Adobe Inc. FY2026 Q3 · Calendar Q3 2026 +0.8% +1.4% Adobe raises FY26 outlook as AI strategy broadens
ORCL Oracle Corporation FY2027 Q1 · Calendar Q3 2026 +10.3% -1.7% Oracle raises FY27 outlook as AI demand accelerates cloud growth
SAIL SailPoint, Inc. FY2027 Q2 · Calendar Q3 2026 +13.8% -1.2% SailPoint pairs 25% ARR growth with accelerating AI-driven adoption
CIEN Ciena Corporation FY2026 Q3 · Calendar Q3 2026 +22.0% -10.4% Ciena raises outlook as AI networking demand lifts backlog
DOCU DocuSign, Inc. FY2027 Q2 · Calendar Q3 2026 +6.4% +3.7% DocuSign Q2 FY27: IAM momentum supports a raised outlook

Latest beats and misses

Who reports next

Beat on EPS

Missed on EPS

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
  3. Polygon adjusted daily market bars · 2026-09-24T22:20:56.351257+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-24T22:20:56.348332+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-09-24. For educational purposes only; not investment advice.