# Analog Devices (ADI) Forecast Calculator

Interactive five-year financial forecast and DCF for Analog Devices. Adjust revenue growth, margins, capex, and WACC to update revenue, free cash flow, and enterprise value.

- Canonical: https://finamodel.com/companies/analog-devices/forecast
- Industry: Technology
- Forecast start year: 2026

## Historical data

| Year | Revenue | Free cash flow | EBITDA | Net income |
|---:|---:|---:|---:|---:|
| 2021 | 5991065000 | 1977728000 | 1951285000 | 1363011000 |
| 2022 | 5603056000 | 1842795000 | 1732019000 | 1220761000 |
| 2023 | 7318286000 | 2391393000 | 1923476000 | 1390422000 |
| 2024 | 12013953000 | 3776094000 | 3562038000 | 2748561000 |
| 2025 | 12305539000 | 3556171000 | 4157816000 | 3314579000 |

## Frequently asked questions

### What does Analog Devices (ADI) do?

Analog Devices is a leading global semiconductor company that designs, manufactures, and markets high-performance analog, mixed-signal, and digital signal processing integrated circuits. The company operates a hybrid manufacturing model, utilizing both internal fabrication facilities and third-party foundries to produce long-lifecycle components.

### What are Analog Devices' primary revenue segments and key geographies?

Analog Devices generates significant revenue from its Industrial (46%) and Automotive (30%) segments, with Consumer and Communications each contributing 12%. Key geographies for the company include the United States, China (approximately 22% of revenue), Europe, and Japan.

### What is Analog Devices' typical capital expenditure as a percentage of revenue?

In normalized environments, Analog Devices' capital expenditure as a percentage of revenue ranges from 4% to 6%. This spending is divided between maintenance capex and growth capex, which supports the expansion of internal manufacturing capabilities.

### What is the main purpose of the Analog Devices financial model?

The Analog Devices financial model serves as a comprehensive equity valuation and scenario planning tool. Its primary purpose is to assess ADI's revenue recovery trajectory following the fiscal 2024 semiconductor inventory correction and to evaluate its long-term free cash flow generation capability.

### Can I download an Excel financial model for Analog Devices (ADI)?

Yes, a downloadable Excel financial model is available for Analog Devices (ADI). This model provides a comprehensive tool for equity valuation and scenario planning, with a forecast horizon extending from FY2026 to FY22030.

### What are the key characteristics of Analog Devices' balance sheet structure?

Analog Devices' balance sheet shows total assets between $45 billion and $50 billion, with goodwill and intangible asset balances representing over 60% of total assets due to historical acquisitions. The company maintains positive net working capital, intentionally holding high inventory levels to service long-lifecycle industrial and automotive customers.