Analog Devices vs Texas Instruments
Texas Instruments reported revenue of $17.7 billion in fiscal 2025, 1.6 times Analog Devices' $11.0 billion in fiscal 2025. Analog Devices' revenue grew 16.9% in its latest year, and Texas Instruments' grew 13.1%. Analog Devices had an operating margin of 26.6%, against 34.1% at Texas Instruments. Free cash flow was $4.3 billion at Analog Devices and $2.6 billion at Texas Instruments. Their fiscal years end in different months (November 1 and December 31), so the periods don't line up exactly.
Side by side
| Analog Devices | Texas Instruments | |
|---|---|---|
| Latest fiscal year | FY2025, Nov 1, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $11.0B | $17.7B |
| Revenue growth | 16.9% | 13.1% |
| Revenue growth a year, last 5 years | 14.5% | 4.1% |
| Gross margin | 61.5% | 57.0% |
| Operating margin | 26.6% | 34.1% |
| Net margin | 20.6% | 28.3% |
| Free cash flow | $4.3B | $2.6B |
| Free cash flow margin | 38.8% | 14.7% |
| Return on capital | 6.2% | 21.8% |
| Net debt to EBITDA | 1.0x | 1.1x |
| Dividends and buybacks | $4.1B | $6.5B |
| Change in diluted share count | −0.4% | −0.7% |
| Last close | $407.93 | $298.12 |
| P/E at the last close | 48.4× | 38.7× |
| Insider trades, last 12 months | sold $105.2 million | sold $119.0 million |
| Piotroski F-score | 8 of 9 | 6 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Analog DevicesTexas Instruments
Operating margin
Percent of revenue
Analog DevicesTexas Instruments
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Analog DevicesTexas Instruments
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Analog Devices and Texas Instruments pages.