Analog Devices Inc (ADI) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Analog Devices Inc stock $262, price $361, that is 27.4% below the price, quality 81 out of 100. Rating: overvalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.
How to read this chart
60‑month range $128.03 – $444.13 · fair‑value band $172.22 – $327.54 · the $361.01 price screens above the $262.04 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.
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Analog Devices, Inc. engages in the design, manufacture, testing, and marketing of integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia.
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It provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.
The company also offers amplifiers to condition analog signals; and radio frequency and microwave ICs to support cellular infrastructure; and micro-electro-mechanical systems technology solutions, including accelerometers used to sense acceleration, gyroscopes for sense rotation, inertial measurement units to sense multiple degrees of freedom, and broadband switches for radio and instrument systems, as well as isolators.
In addition, it provides digital signal processing and system products for numeric calculations.
The company serves clients in the industrial, automotive, consumer, instrumentation, aerospace, defense and healthcare, and communications markets through a direct sales force, third-party distributors, and independent sales representatives, as well as online.
The company was incorporated in 1965 and is headquartered in Wilmington, Massachusetts.
Stock analysis
Analog Devices Inc (ADI) currently trades at $361.01, while our model-based Fair Value estimate is $262.04, 27% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $145.12 per share, and 0 of the 24 models we run sit above the $361.01 price.
Bear case: the Economic Profit group reads lowest at $40.93, and 24 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: $172.22 (bear) to $327.54 (bull), the price of $361.01 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 81/100 (high quality), in the Technology sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Analog Devices Inc reported revenue of $11.0B in FY2025 versus $7.3B in FY2021, a compound +10.8%/yr. Reported net income was $2.3B in FY2025, compounding +13.0%/yr from FY2021.
Key figures
Market cap $177B Large · P/E ratio 42.9 · P/S ratio 12.8 · EPS (TTM) $8.42 · Dividend yield 1.2% · Net margin 29.8% · Return on equity 12.2% · Return on assets (EBIT) 5.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 78 out of 100 (medium confidence).
What moves the price
The share trades about 19% below its 52-week high and 62% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at 0% fair-value upside, at −27%, ADI screens richer than that median.
Fair Value models
Bear$172.22Fair Value $262.04Bull$327.54
Price $361.01 · Downside -27.4%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then ($4.13 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, 7 officers or directors sold shares worth $68.6M and none bought.
SaleVincent RocheChair & CEO, Director13× since Dec 12, 2025: 180,000 shares, avg. $372.34$67.0MNov 2, 2026
SaleRichard C Puccio JrChief Financial Officer5× since Aug 26, 2026: 8,683 shares, avg. $384.60$3.3MOct 20, 202610b5-1 plan
SaleVivek JainChief Operations/Tech Officer3× since Dec 1, 2025: 13,219 shares, avg. $345.68$4.6MOct 8, 2026
SaleRay StataDirector11× since Dec 16, 2025: 40,402 shares, avg. $333.55$13.5MOct 7, 2026
SaleKatsufumi NakamuraChief Customer Officer3× since Jan 7, 2026: 2,200 shares, avg. $360.61$793,349Oct 2, 2026
SaleKaren GolzDirector3× since Jun 12, 2026: 3,000 shares, avg. $392.09$1.2MAug 27, 202610b5-1 plan
SaleMartin CotterSVP, Vertical Business Units3× since Dec 17, 2025: 32,594 shares, avg. $352.66$11.5MJun 2, 2026
SaleMichael SondelCAO (principal acct. officer)2× since Dec 10, 2025: 12,368 shares, avg. $307.18$3.8MFeb 25, 2026
Plus 16 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+16.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−2.8%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+14.5%
Start year 2020 (pandemic). Over 10 years: +12.4% a year
Revenue growth 40 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.2%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
+7.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+6.6%
Dividend (yield on the price)1.2%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5.7% vs 7.6%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.27% → 27%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes more growth than the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+23.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+25.0%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +21.1% a year for the price and +22.1% for the forecasts.
AI conclusion: Analog Devices maintains a moderate moat through pricing power and cash conversion in analog semiconductors, yet this is offset by average alignment and limited public human capital signals.
Main risk: US export controls, sanctions and tariffs could restrict Analog Devices' sales to Chinese customers or raise costs, directly reducing revenue from its roughly 26 percent China exposure and pressuring margins.
Bull case: By deepening its hybrid manufacturing network and edge-AI offerings through targeted acquisitions, Analog Devices could secure resilient supply while expanding into high-value physical AI applications that leverage its sensing and power strengths.
Bear case: If export restrictions tighten further and Taiwan tensions disrupt foundry access while TI undercuts on cost, Analog Devices could lose significant China revenue, face production delays and see share erosion in core analog markets, limiting growth.
Analog Devices is extending its analog and power expertise into AI data centers with new battery storage initiatives and processing platforms. This creates exposure to high-growth infrastructure spending while the semiconductor cycle remains a core risk. Our models currently see the stock as overvalued. Will the data center expansion deliver steady gains that outpace industry swings, or will demand fluctuations limit the upside?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Semiconductors · 370 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score81 · Top 25%
Fair Value upside−27.4% · Above median
Profitability
Return on equity (12 months)12.2% · Above median
Return on assets4.7% · Above median
Net margin (12 months)29.8% · Top 25%
Operating margin (12 months)39.5% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)39.6% · Above median
Dividend yield (12 months)1.2% · Above median
Balance sheet
Debt / equity0.24× · Above median
Valuation Multiplesvs Semiconductors median · lower = cheaper
P/E (12 months)42.9× · Pricier than median
P/B5.23× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (12 months)12.75× · Priciest 25%
Price / free cash flow (fiscal year)41.4× · Pricier than median
EV/EBITDA26.4× · Pricier than median
PEG0.58× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)100· sector 100
PAST (return on equity)49· sector 27
HEALTH (low debt)88· sector 96
DIVIDEND (yield)24· sector 20
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Analog Devices Inc (ADI) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of $262.04 versus a price of $361.01, about 27% lower (overvalued).
What is the fair value of ADI?
Our model-based fair value for Analog Devices Inc is $262.04 (as of Nov 4, 2026), built from audited fundamentals. The current price: $361.01.
What is the quality score of ADI?
Analog Devices Inc has a Quality Score of 81/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Analog Devices Inc (ADI)?
Our model-based price target is the fair value of $262.04 (as of Nov 4, 2026) from 24 valuation models. Cautious scenario $172.22, optimistic scenario $327.54. It is a calculation from audited fundamentals, not an analyst target.
What is the Analog Devices Inc stock forecast for 2026?
Our models put fair value at $262.04, about 27% lower versus a price of $361.01 (overvalued). Cautious scenario $172.22, optimistic scenario $327.54. The calculation is refreshed regularly with new filings.
What is the revenue of Analog Devices Inc (ADI)?
Analog Devices Inc reported trailing-twelve-month revenue of about $13.9B (latest available figure, as of Nov 4, 2026).
Does Analog Devices Inc pay a dividend?
Analog Devices Inc currently shows a dividend yield of 1.19% relative to its recent price (as of Nov 4, 2026).
What growth is priced into Analog Devices Inc (ADI)?
For today's price to be fair in a discounted-cash-flow model, Analog Devices Inc would have to grow free cash flow by +23.9 % per year for five years (discount rate 9.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +14.5 % per year. As of Nov 4, 2026.
What discount rate (WACC) does the fair value of ADI use?
Our models discount Analog Devices Inc at 9.8 %: a base by market capitalisation (large), damped by beta 1.23, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Analog Devices Inc that is +23.9 % per year a year over ten years, using the same discount rate (9.8 %) and the same formula as our fair value.
How much growth has Analog Devices Inc (ADI) delivered so far?
Over the past 5 years revenue at Analog Devices Inc grew +14.5 % a year. The price currently implies +23.9 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Analog Devices Inc (ADI) growing?
The median revenue growth in the sector is +11.3 % a year. That is the yardstick for the growth priced into Analog Devices Inc (+23.9 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Analog Devices Inc (ADI)?
The free-cash-flow yield on the price is 2.42 %: that much free cash flow Analog Devices Inc produces per unit of market value. When it exceeds the discount rate of our models (9.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Analog Devices Inc (ADI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Analog Devices Inc it is $262.04 per share (as of Nov 4, 2026), against a price of $361.01. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Analog Devices Inc stock overvalued or undervalued in 2026?
As of Nov 4, 2026, ADI trades above its calculated fair value: price $361.01, fair value $262.04, a gap of about −27% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ADI?
No. The price is what the market pays today ($361.01); the fair value is what the company's own numbers justify ($262.04). For Analog Devices Inc the two are $98.97 per share apart. That gap is exactly why we show both numbers side by side.
How much is Analog Devices Inc worth?
The market values Analog Devices Inc at about $177B (market capitalisation, as of Nov 4, 2026). Per share that is $361.01; our models calculate a fair value of $262.04 per share.
What do the bullish and bearish scenarios say about ADI?
Our models span a range for Analog Devices Inc: cautious scenario $172.22, base $262.04, optimistic $327.54 per share (as of Nov 4, 2026, price $361.01). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ADI?
Analog Devices Inc trades at a price-to-earnings ratio of 42.9 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $262.04 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, 8 of the years ex one-offs: 31.3. Other multiples: PEG 0.6, P/B 5.2, P/S 12.8, EV/EBITDA 26.4.
What is the PEG ratio of ADI?
The PEG ratio of Analog Devices Inc is 0.58 (P/E divided by earnings growth, as of Nov 4, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Analog Devices Inc (ADI)?
Balance-sheet figures for Analog Devices Inc (as of Nov 4, 2026): return on equity 12.2%, debt of 0.24 per unit of equity. They feed the Quality Score of 81/100, which measures business quality independently of the share price.
How far is ADI from its 52-week high?
Analog Devices Inc trades at $361.01, about 19% below its 52-week high of $444.13 and 62% above the low of $222.42 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of $262.04 is for.
Which stocks are comparable to Analog Devices Inc?
From the same area (Technology) we also value NVIDIA Corporation, Taiwan Semiconductor Manufacturing Company, Broadcom Inc, Micron Technology, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Analog Devices Inc stock attractive at the current price?
The data as of Nov 4, 2026: price $361.01, calculated fair value $262.04 (−27%), Quality Score 81/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ADI calculated?
We run Analog Devices Inc through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $262.04, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. Analog Devices Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Analog Devices Inc (ADI)?
The closing price on Nov 5, 2026 was $361.01. Our model-based fair value is $262.04, about 27% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Analog Devices Inc right now?
A high-quality business (quality 81/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety. The price sits above even our optimistic bull case ($327.54). The favourable scenario is already priced in. A fairly wide model range ($172.22 to $327.54) leaves room in how you read the outcome.
Where does the earnings growth of Analog Devices Inc (ADI) come from?
Earnings per share at Analog Devices Inc grew +8.5 % a year from 2014 to 2025. Broken into its drivers: revenue per share +8.7 %, EBIT margin +0.0 %, tax rate +0.2 %, residual (interest, one-offs) −0.4 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Analog Devices Inc
How large is the market capitalisation of Analog Devices Inc (ADI)?
The market capitalisation of Analog Devices Inc is $177B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Analog Devices Inc (ADI)?
The price-to-sales ratio of Analog Devices Inc is 12.8 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Analog Devices Inc (ADI)?
Earnings per share at Analog Devices Inc are $8.42 (price ÷ EPS = P/E 42.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Analog Devices Inc (ADI)?
The dividend yield of Analog Devices Inc is 1.2% (payout 51.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Analog Devices Inc (ADI)?
The net margin of Analog Devices Inc is 29.8% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Analog Devices Inc (ADI)?
The return on equity (ROE) of Analog Devices Inc is 12.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Analog Devices Inc (ADI)?
On an EBIT basis the return on assets of Analog Devices Inc is 5.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Analog Devices Inc (ADI)?
The operating margin of Analog Devices Inc is 39.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Analog Devices Inc (ADI)?
Revenue at Analog Devices Inc is growing +39.6% versus a year earlier (3y avg −2.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Analog Devices Inc (ADI)?
Earnings per share at Analog Devices Inc are growing +164% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Analog Devices Inc (ADI) carry?
The net debt of Analog Devices Inc is $6.2B (fiscal year 2025, ≈ 1.4 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 4, 2026