Income StatementBalance SheetCash FlowSegments
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Analog Devices Cash Flow Statement

Operating, investing, and financing cash movements

Analog Devices generated $5.1B in operating cash flow over the trailing twelve months. After $541.3M in capital expenditures, free cash flow was $4.6B. Free cash flow increased 0.4% year-over-year. Based on the Q2 2026 filing.

Net Cash From Operating (TTM)$5.1BNet Cash From Investing (TTM)-$1.6BNet Cash From Financing (TTM)-$3.4BCapital Expenditures (TTM)$541.3MDepreciation And Amortization Cf (TTM)$418.9MNet Change In Cash (TTM)$956.8M
Latest FilingQ2 2026
Report Date2026-05-20
Market Cap$193.41B
P/E Ratio58.37
ROE9.64%

Operating

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Other non-cash income (expense)$799.0K-$5.0M$5.7M$8.4M-$13.4M—
Amortization of intangible assets$417.2M$400.3M$384.8M$389.9M$384.6M$386.0M
Change in accounts payable$164.3M$164.3M$164.3M$164.3M——
Change in accounts receivable$22.7M$22.7M$22.7M$22.7M——
Change in income taxes payable/receivable$23.6M$23.6M$23.6M$23.6M——
Change in inventories$52.2M$52.2M$52.2M$52.2M——
Change in other assets-$1.7M-$1.7M-$1.7M-$1.7M——
Change in other liabilities$3.3M$3.3M$3.3M$3.3M——
Other working capital changes$799.0K-$5.0M$5.7M$8.4M-$13.4M—
Deferred income taxes-$59.5M-$89.9M$153.8M-$149.3M-$60.7M-$60.3M
Depreciation and amortization$98.4M$100.3M$102.5M$105.5M$105.9M$105.0M
Other operating reconciliation adjustments$735.5M$249.7M$646.6M$913.1M$537.7M—
Other Non-Cash Income (Expense)$799.0K-$5.0M$5.7M$8.4M-$13.4M—
Other Non-cash Income (Expense)$799.0K-$5.0M$5.7M$8.4M-$13.4M—
Other Non-cash Income (Expense)$799.0K-$5.0M$5.7M$8.4M-$13.4M—
Change in other non-current liabilities$3.3M$3.3M$3.3M$3.3M——
Net cash from operating activities$1.1B$819.5M$1.2B$1.7B$1.4B$872.0M
Net income$391.3M$569.8M$518.5M$787.7M$830.8M$1.2B
Other non-cash income (expense)$799.0K-$5.0M$5.7M$8.4M-$13.4M—
Amortization of capitalized software and acquired intangible assets$417.2M$400.3M$384.8M$389.9M$384.6M$386.0M
Depreciation$98.4M$100.3M$102.5M$105.5M$105.9M$105.0M
Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity, Increase (Decrease) in Operating Capital-$202.6M$238.8M——-$8.7M$808.0M
Other long-term liabilities$3.3M$3.3M$3.3M$3.3M——
Increase (Decrease) in Prepaid Expense and Other Assets-$2.3M-$2.3M-$2.3M-$2.3M——
Other Noncash Income (Expense)$799.0K-$5.0M$5.7M$8.4M-$13.4M—
Other Non-cash Income and Expense$799.0K-$5.0M$5.7M$8.4M-$13.4M—
Other Non-Cash Adjustments$799.0K-$5.0M$5.7M$8.4M-$13.4M—
Other Non-Cash Income and Expense$799.0K-$5.0M$5.7M$8.4M-$13.4M—
Stock-based compensation$77.6M$72.8M$84.7M$86.5M$85.7M$81.7M
Adjustments to Reconcile Net Income to Operating Cash Flow$735.5M$249.7M$646.6M$913.1M$537.7M—

Investing

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Acquisitions, net of cash acquired$45.7M———$0.0$35.9M
Capital expenditures$149.0M$90.3M$79.2M$215.2M$109.3M$137.7M
Payment for (Proceeds from) Other Investing Activity-$329.0K$13.2M$715.0K$10.2M$7.7M$16.2M
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-Sale$0.0$372.8M——$10.0M$137.8M
Proceeds from disposals of property, plant and equipment$14.7M$14.7M$14.7M$14.7M——
Net cash from investing activities-$194.3M$328.2M-$1.2B-$225.3M-$107.0M-$51.9M
Other investing activities-$329.0K$13.2M$715.0K$10.2M$7.7M$16.2M
Proceeds from maturities/sales of investments$0.0$372.8M——$10.0M$137.8M
Proceeds from sale of property, plant and equipment$14.7M$14.7M$14.7M$14.7M——

Financing

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Payments of commercial paper$2.0B$2.3B$2.6B$2.7B$3.0B$4.1B
Proceeds from commercial paper notes$2.0B$2.3B$2.6B$2.6B$3.0B$4.1B
Proceeds from Commercial Paper$2.0B$2.3B$2.6B$2.6B$3.0B$4.1B
Net change in commercial paper$2.0B$2.3B$2.6B$2.6B$3.0B$4.1B
Repayments of debt$100.0M$100.0M$100.0M$100.0M——
Dividends paid$456.3M$491.0M$490.2M$486.9M$484.3M$536.5M
Proceeds from Issuance of Commercial Paper$2.0B$2.3B$2.6B$2.6B$3.0B$4.1B
Other, net$438.0K-$1.9M$41.8M—-$297.0K$3.3M
Proceeds from issuance of common stock relating to employee stock plans$41.7M$19.8M$42.8M$4.6M$49.6M$9.9M
Repayments of Debt$100.0M$100.0M$100.0M$100.0M——
Payment of Deferred Purchase Consideration$438.0K-$1.9M$41.8M—-$297.0K$3.3M
Noncontrolling interest transactions and other$438.0K-$1.9M$41.8M—-$297.0K$3.3M
Net cash from financing activities-$573.9M-$1.1B$0.0-$1.3B-$855.0M-$1.3B
Other financing activities$438.0K-$1.9M$41.8M—-$297.0K$3.3M
Noncontrolling Interests Activity and Other$438.0K-$1.9M$41.8M—-$297.0K$3.3M
Proceeds from issuance of common stock$41.7M$19.8M$42.8M$4.6M$49.6M$9.9M
Repurchases of common stock$160.4M$248.6M$1.1B$680.5M$516.5M$772.9M

Free Cash Flow

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Free cash flow$977.8M$729.2M$1.1B$1.5B$1.3B$734.3M

Other

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Net increase (decrease) in cash$358.7M$26.2M—$178.2M$406.5M-$468.9M