Executive Summary
In Q2 2025, Analog Devices reported revenue of $2.640B, up 22.3% year over year and 8.95% quarter over quarter, marking a solid sequential cadence alongside robust annual growth. Gross profit of $1.611B yielded a gross margin of 61.04%, with operating income of $0.678B and an operating margin of 25.68%. Net income totaled $0.570B and diluted earnings per share (EPS) were $1.14-$1.15, reflecting significant year-over-year improvements (net income up 88.5% and EPS up ~88.5%). EBITDA was $1.201B, and the company generated $0.820B of cash flow from operations, supporting $0.729B in free cash flow (FCF) after accounting for capex of $90.3M. Free cash flow per share stood at about $1.47, underscoring strong cash generation relative to equity and capital returns.
Key Performance Indicators
Key Insights
Revenue: $2.640B (YoY +22.3%, QoQ +8.95%); Gross Profit: $1.611B (YoY +36.6%, QoQ +12.7%); Operating Income: $0.678B (YoY +75.6%, QoQ +38.0%); Net Income: $0.570B (YoY +88.5%, QoQ +45.6%); EPS Diluted: $1.14 (YoY +88.5%, QoQ +45.6%); Gross Margin: 61.04%; Operating Margin: 25.68%; Net Margin: 21.58%; EBITDA: $1.201B; Cash Flow from Operations: $0.819B; Free Cash Flow: $0.729B; Capex: $0.090B; Free Cash Flow per Share: $1.47; Cash & Equivalents: $2.376B; Total Debt: $7.197B; Net Debt: $4.821B...
Financial Highlights
Revenue: $2.640B (YoY +22.3%, QoQ +8.95%); Gross Profit: $1.611B (YoY +36.6%, QoQ +12.7%); Operating Income: $0.678B (YoY +75.6%, QoQ +38.0%); Net Income: $0.570B (YoY +88.5%, QoQ +45.6%); EPS Diluted: $1.14 (YoY +88.5%, QoQ +45.6%); Gross Margin: 61.04%; Operating Margin: 25.68%; Net Margin: 21.58%; EBITDA: $1.201B; Cash Flow from Operations: $0.819B; Free Cash Flow: $0.729B; Capex: $0.090B; Free Cash Flow per Share: $1.47; Cash & Equivalents: $2.376B; Total Debt: $7.197B; Net Debt: $4.821B; Current Ratio: 2.08; Quick Ratio: 1.51; Dividend Payout Ratio: 86.2%; Shares Outstanding (weighted): ~496.2M–498.7M; P/E: ~43.2x; P/B: ~2.81x; P/S: ~37.3x; Dividend Yield: ~0.50%; Enterprise Value Multiple: ~152.5x.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
2.64B |
22.28% |
8.95% |
| Gross Profit |
1.61B |
36.57% |
12.68% |
| Operating Income |
677.94M |
75.58% |
37.99% |
| Net Income |
569.77M |
88.51% |
45.60% |
| EPS |
1.15 |
88.52% |
45.57% |
Key Financial Ratios
operatingProfitMargin
25.7%
operatingCashFlowPerShare
$1.65
freeCashFlowPerShare
$1.47
dividendPayoutRatio
86.2%
Management Commentary
No earnings call transcript highlights are provided in the dataset. TranscriptHighlights and quotes could not be extracted from the given data. If a transcript becomes available, we can summarize management themes by strategy, operations, and market conditions with direct quotes.
Forward Guidance
No explicit forward guidance is contained in the provided dataset. Given the quarterly strength in revenue, margin resilience, and strong cash generation, the near-term outlook would typically be anchored on continued demand from automotive, industrial, and data-center applications, along with supply-chain stability. Investors should monitor: (1) end-market demand (auto, industrial, communications), (2) semiconductor pricing/mix and potential mix-driven margin expansion, (3) wafer and component supply dynamics, and (4) capital allocation signals (dividends, buybacks, and potential M&A). Any management commentary on outlook or cadence of growth would materially shape guidance once disclosed.