NASDAQ$ADI

Analog Devices Inc · Q4 2024 earnings

Q4 2024 earnings · · Investor relations

Briefing

Analog Devices reported fourth quarter and fiscal year 2024 financial results, with revenue above the midpoint of guidance and sequential growth across all end markets.

Analog Devices reported Q4 revenue above the midpoint of guidance with sequential growth across all end markets. While fiscal 2024 saw a revenue decline, operating margins remained above 40%. Orders picked up steadily throughout the fourth quarter, particularly in the Automotive end market.

  • Fourth quarter revenue of more than $2.4 billion, above the midpoint of guidance with sequential growth across all end markets
  • Fiscal 2024 revenue of more than $9.4 billion
  • Fiscal 2024 operating cash flow of $3.9 billion and free cash flow of $3.1 billion
  • Returned more than $2.4 billion to shareholders in fiscal 2024, including $0.6 billion of share repurchases and $1.8 billion of dividends

Headline financials

Total Revenue

$2.44B

Previous: $2.72B-10.1%
EPS (adj)

$1.67

Previous: $2.01-16.9%
Free Cash Flow Margin

43.0%

No prior period
Operating Margin

23.3%

Previous: 23.4%-0.4%
Adjusted Gross Margin

67.9%

No prior period
Adjusted Operating Margin

41.1%

No prior period
Operating Cash Flow Margin

43.0%

No prior period
Gross Margin

58.0%

Previous: 60.6%-4.3%
Capital Expenditures

-$165M

Previous: -$476M+65.3%
Net Income

$478M

Previous: $498M-4.1%
Operating Income

$569M

Previous: $634M-10.2%
Gross Profit

$1.42B

Previous: $1.65B-14.0%
R&D Expense

$379M

Previous: $407M-6.8%
Stock-Based Comp

$70.4M

Previous: $72.7M-3.1%

Revenue & EPS history

Analog Devices · Revenue · Quarterly

$2.44B

Q4 2024-10.1%vs Q4 2023
Beat estimate in 13 of 15 quarters(87%)
ActualEstimate

Revenue by segment

Analog Devices · $3.62B total across 4 segments · Q2 2026

  • Industrial
    $1.8B
  • Automotive
    $872M
  • Communications
    $555M
  • Consumer
    $398M

Forward guidance

For the first quarter of fiscal 2025, the company is forecasting revenue of $2.35 billion, +/- $100 million. They expect reported EPS to be $0.80, +/- $0.10, and adjusted EPS to be $1.53, +/- $0.10.

Tailwinds

  • Revenue of $2.35 billion, +/- $100 million.
  • Reported operating margin of approximately 22.0%, +/- 130 bps
  • Adjusted operating margin of approximately 40.0%, +/- 100 bps
  • Reported EPS to be $0.80, +/- $0.10
  • Adjusted EPS to be $1.53, +/- $0.10

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q4 2024

Historical avgQ4 2024

+1.2%

Avg return

Earnings day

+1.4%

Avg return

5 days after

+0.5%

Avg return

30 days after

53%

38 / 72 earnings

Positive

+9.7%

Q1 2025

Best reaction

-8.3%

Q2 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2026-5.0%-4.8%+4.1%
Q1 2026+1.0%+5.2%-8.3%
Q4 2025+4.4%+10.8%+15.9%
Q3 2025+6.1%+10.4%+6.5%
Q2 2025-4.6%-2.4%+2.8%
Q1 2025+9.7%+7.6%-7.2%
Q4 2024-2.9%-2.5%-2.5%
Q3 2024-0.7%+0.9%+1.5%
Q2 2024+8.3%+7.3%+6.7%
Q1 2024+1.3%-0.2%+2.2%
Q4 2023-0.6%-0.4%+6.8%
Q3 2023-1.7%+2.1%-0.7%
Q2 2023-8.3%-6.1%-1.1%
Q1 2023+8.7%+6.8%+3.4%
Q4 2022+6.3%+4.9%+2.8%
Q3 2022-5.0%-8.5%-16.6%
Q2 2022-1.8%-1.4%-11.7%
Q1 2022-1.0%-1.0%+0.9%
Q4 2021-1.6%-4.0%-6.9%
Q3 2021+0.3%+2.0%+3.1%
Q2 2021+9.3%+11.4%+11.2%
Q1 2021-1.5%-0.8%-5.3%
Q4 2020-0.8%+0.5%+5.4%
Q3 2020-0.4%-0.6%-2.5%
Q2 2020+4.4%+4.4%+13.0%
Q1 2020+5.0%-1.0%-28.2%
Q4 2019+0.7%+0.0%+6.0%
Q3 2019-1.5%-3.9%+4.6%
Q2 2019-1.2%-1.5%+13.8%
Q1 2019+1.0%+3.5%+3.1%
Q4 2018+4.9%+3.6%-3.3%
Q3 2018+1.5%+4.3%-1.4%
Q2 2018+3.0%+5.9%+1.6%
Q1 2018-4.3%-1.2%-1.2%
Q4 2017-4.7%-4.2%-4.7%
Q3 2017+5.2%+6.1%+8.3%
Q2 2017-3.1%-7.1%-8.3%
Q1 2017+5.3%+6.0%+7.0%
Q4 2016+5.4%+6.3%+5.2%
Q3 2016-1.2%-1.6%-4.4%
Q2 2016+0.6%
Q1 2016-0.1%
Q4 2015+6.1%
Q3 2015-1.9%
Q2 2015+4.5%
Q1 2015+2.3%
Q4 2014+5.3%
Q3 2014-1.7%
Q2 2014-1.3%
Q1 2014+1.6%
Q4 2013-2.3%
Q3 2013-1.7%
Q2 2013-2.8%
Q1 2013-0.8%
Q4 2012+0.0%
Q3 2012-2.1%
Q2 2012-0.5%
Q1 2012-2.1%
Q4 2011-5.3%
Q3 2011-1.2%
Q2 2011+5.1%
Q1 2011-0.4%
Q4 2010+1.5%
Q3 2010+6.1%
Q2 2010+1.5%
Q1 2010+3.4%
Q1 2009+3.4%
Q2 2009+6.8%
Q4 2007+6.8%
Q4 2009+6.8%
Q3 2008+3.9%
Q3 2009+3.9%

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