$ADI

ANALOG DEVICES INC

CIK:0000006281|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 01, 2026	Aug. 02, 2025	Aug. 01, 2026	Aug. 02, 2025
Income Statement [Abstract]
Revenue	$ 4,021,899	$ 2,880,348	$ 10,805,627	$ 7,943,590
Cost of sales	1,314,355	1,090,600	3,613,309	3,111,929
Gross margin	2,707,544	1,789,748	7,192,318	4,831,661
Operating expenses:
Research and development	533,480	454,251	1,510,203	1,298,980
Selling, marketing, general and administrative	397,326	325,706	1,105,389	913,171
Amortization of intangibles	187,985	187,415	563,285	562,245
Special charges, net	(24,216)	4,348	23,766	69,980
Total operating expenses	1,094,575	971,720	3,202,643	2,844,376
Operating income:	1,612,969	818,028	3,989,675	1,987,285
Nonoperating expense (income):
Interest expense	88,728	79,592	262,692	229,559
Interest income	(25,377)	(27,083)	(86,199)	(72,295)
Other, net	3,749	2,110	(3,386)	5,108
Total nonoperating expense (income)	67,100	54,619	173,107	162,372
Income before income taxes	1,545,869	763,409	3,816,568	1,824,913
Provision for income taxes	205,779	244,891	469,302	345,309
Net income	$ 1,340,090	$ 518,518	$ 3,347,266	$ 1,479,604
Shares used to compute earnings per common share – basic (in shares)	486,021	494,390	487,500	495,560
Shares used to compute earnings per common share – diluted (in shares)	488,837	496,726	490,317	497,865
Basic earnings per common share (in dollars per share)	$ 2.76	$ 1.05	$ 6.87	$ 2.99
Diluted earnings per common share (in dollars per share)	$ 2.74	$ 1.04	$ 6.83	$ 2.97

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Aug. 01, 2026	Aug. 02, 2025
Cash flows from operating activities:
Net income	$ 3,347,266	$ 1,479,604
Adjustments to reconcile net income to net cash provided by operations:
Depreciation	315,298	301,323
Amortization of intangibles	1,160,358	1,202,179
Stock-based compensation expense	263,651	235,108
Deferred income taxes	(281,941)	(97,318)
Other	(19,377)	(1,496)
Changes in operating assets and liabilities	(940,740)	(8,008)
Total adjustments	497,249	1,631,788
Net cash provided by operating activities	3,844,515	3,111,392
Cash flows from investing activities:
Purchases of short-term available-for-sale investments	0	(1,150,240)
Maturities of short-term available-for-sale investments	990,657	372,778
Additions to property, plant and equipment, net	(392,677)	(318,399)
Proceeds from sale of property, plant and equipment, net	0	58,892
Proceeds from sale of a subsidiary, net	96,592	0
Payments for acquisitions, net of cash acquired	(1,536,049)	(45,652)
Other	(32,425)	(13,595)
Net cash used for investing activities	(873,902)	(1,096,216)
Cash flows from financing activities:
Proceeds from debt	0	1,490,785
Debt repayments	0	(399,998)
Proceeds from commercial paper notes	13,061,198	6,867,508
Payments of commercial paper notes	(12,502,732)	(6,866,581)
Repurchase of common stock	(2,446,409)	(1,484,166)
Dividend payments to shareholders	(1,556,028)	(1,437,521)
Proceeds from employee stock plans	121,171	104,329
Other	18,651	40,317
Net cash used for financing activities	(3,304,149)	(1,685,327)
Net (decrease) increase in cash and cash equivalents	(333,536)	329,849
Cash and cash equivalents at beginning of period	2,499,406	1,991,342
Cash and cash equivalents at end of period	$ 2,165,870	$ 2,321,191

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Aug. 01, 2026	Nov. 01, 2025
Current Assets
Cash and cash equivalents	$ 2,165,870	$ 2,499,406
Short-term investments	159,064	1,152,915
Accounts receivable	2,389,577	1,436,075
Inventories	1,931,496	1,656,323
Prepaid expenses and other current assets	426,523	363,342
Total current assets	7,072,530	7,108,061
Non-current Assets
Net property, plant and equipment	3,351,981	3,315,696
Goodwill	27,988,737	26,945,180
Intangible assets, net	7,468,220	8,013,815
Deferred tax assets	1,689,972	1,867,102
Other assets	852,977	742,858
Total non-current assets	41,351,887	40,884,651
TOTAL ASSETS	48,424,417	47,992,712
Current Liabilities
Accounts payable	682,167	543,760
Income taxes payable	461,804	610,370
Debt, current	1,344,855	0
Commercial paper notes	1,005,104	446,639
Accrued liabilities	2,162,324	1,645,032
Total current liabilities	5,656,254	3,245,801
Non-current Liabilities
Long-term debt	6,771,624	8,145,066
Deferred income taxes	1,837,959	2,163,281
Income taxes payable	90,723	100,963
Other non-current liabilities	516,960	521,846
Total non-current liabilities	9,217,266	10,931,156
Shareholders’ Equity
Preferred stock, $1.00 par value, 471,934 shares authorized, none outstanding	0	0
Common stock, $0.16 2/3 par value, 1,200,000,000 shares authorized, 484,565,465 shares outstanding (489,654,097 on November 1, 2025)	80,762	81,611
Capital in excess of par value	21,288,447	23,349,185
Retained earnings	12,330,779	10,539,541
Accumulated other comprehensive loss	(149,091)	(154,582)
Total shareholders’ equity	33,550,897	33,815,755
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 48,424,417	$ 47,992,712