Analog Devices said revenue for 2025 increased 17% compared to 2024 as a result of broad-based increase in demand for its products. Fiscal 2024 included one additional week.

10-KAnnual reportFiled Nov 25, 2025Period of report Nov 1, 2025Summary published (UTC) Oct 10, 2026

Key points

AI summary

Analog Devices said revenue for 2025 increased 17% compared to 2024 as a result of broad-based increase in demand for its products. Fiscal 2024 included one additional week.
The company said gross margin percentage for 2025 increased 440 basis points compared to 2024, citing higher utilization of its factories due to increased customer demand and a decrease in amortization expense related to acquired intangible assets as factors.
Analog Devices said the increase in net income for 2025 resulted from an increase in operating income of $899.7 million and a decrease in nonoperating expense of $35.1 million, partially offset by an increase in provision for income taxes of $302.7 million. The company said its effective tax rate was impacted by a net deferred tax expense of $153.8 million related to the remeasurement of its Global Intangible Low-Taxed Income related deferred tax assets and liabilities attributable to the passage of the One Big Beautiful Bill Act.
As of November 1, 2025, the company said its cash, cash equivalents and short-term investments totaled $3.7 billion, of which approximately $2.4 billion was held in the United States. Of the $26.7 billion authorized for common stock repurchases, $9.7 billion remained available under the current program.

Key figures

Fiscal year ended November 1, 2025

Revenue: $11.0B
Operating income: $2.9B
Net income: $2.3B
EPS: $4.56
Gross profit: $6.8B
Operating cash flow: $4.8B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Annual Revenue Up 17%

Analog Devices said revenue for 2025 increased 17% compared to 2024 as a result of broad-based increase in demand for its products. Fiscal 2024 included one additional week.

Source · Based on the MD&A text of the filing

Gross Margin Percentage Rises 440 basis points

The company said gross margin percentage for 2025 increased 440 basis points compared to 2024, citing higher utilization of its factories due to increased customer demand and a decrease in amortization expense related to acquired intangible assets as factors.

Source · Based on the MD&A text of the filing

Net Income Drivers and Income Taxes

Analog Devices said the increase in net income for 2025 resulted from an increase in operating income of $899.7 million and a decrease in nonoperating expense of $35.1 million, partially offset by an increase in provision for income taxes of $302.7 million. The company said its effective tax rate was impacted by a net deferred tax expense of $153.8 million related to the remeasurement of its Global Intangible Low-Taxed Income related deferred tax assets and liabilities attributable to the passage of the One Big Beautiful Bill Act.

Source · Based on the MD&A text of the filing

Liquidity and Stock Repurchase Authorization

As of November 1, 2025, the company said its cash, cash equivalents and short-term investments totaled $3.7 billion, of which approximately $2.4 billion was held in the United States. Of the $26.7 billion authorized for common stock repurchases, $9.7 billion remained available under the current program.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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