ANALOG DEVICES INCADI
ANALOG DEVICES INC Segments Disclosure
Industry, Segment and Geographic Information
The Company operates and tracks its results at the consolidated company level in one operating segment and one reportable segment. The Company designs, develops, manufactures and markets a broad range of ICs. The Company uses a highly-integrated approach in developing its products in that discrete technologies developed by the Company are frequently integrated across many of its products, and substantially all of the Company’s ICs are manufactured under similar processes with raw materials in either the Company’s own production facilities or by third-party wafer fabricators using proprietary processes. The ICs marketed by the Company are sold globally through a direct sales force, third-party distributors, independent sales representatives and via the Company’s website to the same types of customers spanning a wide range of applications. Accordingly, the Company operates under a single operating segment.
The Company’s Chair and Chief Executive Officer has been identified as its Chief Operating Decision Maker (CODM). The Company’s organizational structure is based along functional lines with each functional manager reporting to the CODM or to a direct report of the CODM. The CODM regularly reviews income and expense items at the consolidated company level. He primarily uses consolidated net income as reported on the Consolidated Statements of Operations to evaluate performance and allocate resources. This measure is utilized during the Company’s budgeting and forecasting process to assess profitability and inform strategic initiatives, capital allocation and other operating decisions. The measure of segment assets is reported on the Consolidated Balance Sheets as total assets.
The following table presents a summary of consolidated net income inclusive of significant segment expenses and other expense information provided to the CODM:
| Year Ended | |||||||||||||||||
| November 1, 2025 | November 2, 2024 | October 28, 2023 | |||||||||||||||
Revenue | $ | 11,019,707 | $ | 9,427,157 | $ | 12,305,539 | |||||||||||
| Less: | |||||||||||||||||
| Cost of sales, including human capital expenses therein | 4,246,229 | 4,045,814 | 4,428,321 | ||||||||||||||
| Operating expenses: | |||||||||||||||||
| Employee compensation costs | 2,148,609 | 1,768,311 | 2,051,976 | ||||||||||||||
| Amortization of acquired intangible assets | 749,662 | 754,784 | 959,618 | ||||||||||||||
| Research and development related costs (excluding employee compensation costs) | 530,071 | 466,134 | 498,281 | ||||||||||||||
| Special charges, net | 69,980 | 37,258 | 160,710 | ||||||||||||||
Other operating expense (excluding employee compensation costs) (1) | 342,660 | 322,058 | 383,521 | ||||||||||||||
Nonoperating expense (income) | 220,384 | 255,458 | 215,109 | ||||||||||||||
| Provision for income taxes | 444,770 | 142,067 | 293,424 | ||||||||||||||
| Net income | $ | 2,267,342 | $ | 1,635,273 | $ | 3,314,579 | |||||||||||
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(1)Includes depreciation and amortization expenses, facilities expenses, legal expenses and other discretionary expenses.
Revenue Trends by End Market
The following table summarizes revenue by end market. The categorization of revenue by end market is determined using a variety of data points including the technical characteristics of the product, the “sold to” customer information, the “ship to” customer information and the end customer product or application into which the Company’s product will be incorporated. As data systems for capturing and tracking this data and the Company’s methodology evolves and improves, the categorization of products by end market can vary over time. When this occurs, the Company reclassifies revenue by end market for prior periods. Such reclassifications typically do not materially change the sizing of, or the underlying trends of results within each end market.
| 2025 | 2024 | 2023 | |||||||||||||||||||||||||||||||||
| Revenue | % of Total Revenue (1) | Revenue | % of Total Revenue (1) | Revenue | % of Total Revenue (1) | ||||||||||||||||||||||||||||||
| Industrial | $ | 4,929,409 | 45 | % | $ | 4,290,324 | 46 | % | $ | 6,565,376 | 53 | % | |||||||||||||||||||||||
| Automotive | 3,277,865 | 30 | % | 2,837,522 | 30 | % | 2,903,979 | 24 | % | ||||||||||||||||||||||||||
| Consumer | 1,434,568 | 13 | % | 1,207,880 | 13 | % | 1,244,598 | 10 | % | ||||||||||||||||||||||||||
| Communications | 1,377,865 | 13 | % | 1,091,431 | 12 | % | 1,591,586 | 13 | % | ||||||||||||||||||||||||||
| Total revenue | $ | 11,019,707 | 100 | % | $ | 9,427,157 | 100 | % | $ | 12,305,539 | 100 | % | |||||||||||||||||||||||
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(1)The sum of the individual percentages may not equal the total due to rounding.
Revenue by Sales Channel
The following table summarizes revenue by sales channel. The Company sells its products globally through a direct sales force, third-party distributors, independent sales representatives and via its website. Distributors are customers that buy products with the intention of reselling them. Direct customers are non-distributor customers and consist primarily of original equipment manufacturers (OEMs). Other customers include the U.S. government, government prime contractors and certain commercial customers for which revenue is recorded over time.
| 2025 | 2024 | 2023 | ||||||||||||||||||||||||||||||||||||
| Revenue | % of Total Revenue (1) | Revenue | % of Total Revenue (1) | Revenue | % of Total Revenue (1) | |||||||||||||||||||||||||||||||||
| Distributors | $ | 6,144,819 | 56 | % | $ | 5,505,779 | 58 | % | $ | 7,534,894 | 61 | % | ||||||||||||||||||||||||||
| Direct customers | 4,718,993 | 43 | % | 3,772,945 | 40 | % | 4,603,166 | 37 | % | |||||||||||||||||||||||||||||
| Other | 155,895 | 1 | % | 148,433 | 2 | % | 167,479 | 1 | % | |||||||||||||||||||||||||||||
| Total revenue | $ | 11,019,707 | 100 | % | $ | 9,427,157 | 100 | % | $ | 12,305,539 | 100 | % | ||||||||||||||||||||||||||
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(1)The sum of the individual percentages may not equal the total due to rounding.
Geographic Information
Geographic revenue information for fiscal 2025, fiscal 2024 and fiscal 2023 reflects the geographic location of the distributors or OEMs who purchased the Company’s products. This may differ from the geographic location of the end customers particularly in cases where a third-party contract manufacturer purchases the Company’s products through distributors. In all periods presented, the predominant regions comprising “Rest of North and South America” are Mexico and Canada; the predominant regions comprising “Europe” are Germany, the Netherlands, France and Israel; and the predominant regions comprising “Rest of Asia” are Taiwan, South Korea, Malaysia and Singapore.
| 2025 | 2024 | 2023 | |||||||||||||||
| Revenue | |||||||||||||||||
| United States | $ | 3,238,145 | $ | 2,840,426 | $ | 4,165,296 | |||||||||||
| Rest of North and South America | 162,470 | 62,318 | 88,579 | ||||||||||||||
| Europe | 2,285,598 | 2,109,529 | 3,001,871 | ||||||||||||||
| Japan | 989,916 | 1,085,631 | 1,397,119 | ||||||||||||||
| China | 2,858,286 | 2,128,840 | 2,229,631 | ||||||||||||||
| Rest of Asia | 1,485,292 | 1,200,413 | 1,423,043 | ||||||||||||||
Subtotal all foreign regions | 7,781,562 | 6,586,731 | 8,140,243 | ||||||||||||||
| Total revenue | $ | 11,019,707 | $ | 9,427,157 | $ | 12,305,539 | |||||||||||
| Property, plant and equipment | |||||||||||||||||
| United States | $ | 1,832,598 | $ | 1,907,527 | $ | 1,577,914 | |||||||||||
| Ireland | 651,330 | 625,658 | 573,684 | ||||||||||||||
| Philippines | 432,972 | 468,900 | 620,453 | ||||||||||||||
| Thailand | 263,939 | 195,150 | 209,660 | ||||||||||||||
| Malaysia | 36,922 | 108,286 | 123,574 | ||||||||||||||
All other regions | 97,935 | 110,029 | 113,872 | ||||||||||||||
Subtotal all foreign regions | 1,483,098 | 1,508,023 | 1,641,243 | ||||||||||||||
| Total property, plant and equipment | $ | 3,315,696 | $ | 3,415,550 | $ | 3,219,157 | |||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Nov 25, 2025 | Showing above |
| 2024 | Nov 26, 2024 | |
| 2023 | Nov 21, 2023 | |
| 2022 | Nov 22, 2022 | |
| 2021 | Dec 3, 2021 | |
| 2020 | Nov 24, 2020 | |
| 2019 | Nov 26, 2019 | |
| 2018 | Nov 27, 2018 | |
| 2017 | Nov 22, 2017 | |
| 2016 | Nov 22, 2016 | |
| 2015 | Nov 24, 2015 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.