Question 1

What is Analog Devices's P/FCF ratio?

Accepted Answer

Analog Devices (ADI) P/FCF ratio is 41.5× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for Analog Devices?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For Analog Devices specifically, the relevant sector benchmark is the current sector median of 21.8×.

Question 5

Is Analog Devices's P/FCF ratio high or low?

Accepted Answer

Analog Devices's P/FCF ratio of 41.5× is above its own 5-year average of 29.1× and above the sector median of 21.8×. That places the current reading at the 96th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Analog Devices's historical P/FCF ratio range?

Accepted Answer

In the available daily series, Analog Devices (ADI) P/FCF ratio has ranged from a low of 11.2× in 2010 to a high of 54.6× in 2003. The 5-year average is 29.1× and the 5-year median is 29.6×.

Question 7

What was Analog Devices's P/FCF ratio in 2025?

Accepted Answer

Analog Devices (ADI) P/FCF ratio at the end of 2025 was 26.9×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does Analog Devices's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$115B	$4.28B	26.9×	-9.0×	Nov 1, 2025
2024	$112B	$3.12B	35.8×	+13.4×	Nov 2, 2024
2023	$79.8B	$3.56B	22.4×	+2.8×	Oct 28, 2023
2022	$74.2B	$3.78B	19.7×	-15.4×	Oct 29, 2022
2021	$83.9B	$2.39B	35.1×	+11.3×	Oct 30, 2021
2020	$43.8B	$1.84B	23.8×	+3.3×	Oct 31, 2020
2019	$40.4B	$1.98B	20.4×	—	Nov 2, 2019
2018	—	—	—	—	Oct 31, 2018
2017	—	—	—	—	Oct 31, 2017
2015	$18.7B	$754M	24.8×	—	Oct 31, 2015
2014	—	—	—	—	Oct 31, 2014
2013	—	—	—	—	Oct 31, 2013
2012	—	—	—	—	Oct 31, 2012
2011	—	—	—	—	Oct 31, 2011
2010	$10.1B	$880M	11.5×	-8.7×	Oct 30, 2010
2009	$7.58B	$376M	20.1×	+8.0×	Oct 31, 2009
2008	$6.22B	$512M	12.1×	-2.4×	Nov 1, 2008
2007	$9.84B	$679M	14.5×	-6.9×	Nov 3, 2007
2006	$10.5B	$492M	21.4×	-0.1×	Oct 28, 2006
2005	$12.7B	$587M	21.6×	-2.4×	Oct 29, 2005
2004	$15.1B	$632M	23.9×	—	Oct 30, 2004
2003	—	—	—	—	Oct 31, 2003
2002	—	—	—	—	Oct 31, 2002


Zebra Technologies (ZBRA)	12.2×
Skyworks Solutions (SWKS)	11.9×
Cognizant (CTSH)	11.8×
NetApp (NTAP)	11.5×
Duolingo (DUOL)	11.1×
Block (XYZ)	11.0×
QUALCOMM (QCOM)	10.8×
Leidos Holdings (LDOS)	10.8×
Workday (WDAY)	10.5×
Salesforce (CRM)	10.5×
Qorvo (QRVO)	10.4×
Adobe (ADBE)	9.8×
Accenture (ACN)	9.6×
Strategy (MSTR)	9.2×
Gartner (IT)	8.8×
Fidelity National Information Services (FIS)	8.7×
DocuSign (DOCU)	8.0×
Gen Digital (GEN)	7.5×
Fiserv (FISV)	7.2×
Science Applications International (SAIC)	7.0×
Hewlett Packard Enterprise (HPE)	6.8×
GoDaddy (GDDY)	6.7×
HP (HPQ)	5.1×
Lyft (LYFT)	4.5×
IBM (IBM)	0.0×

P/FCF Ratio for Analog Devices (ADI) 2004-2026

P/FCF Ratio daily chart for Analog Devices (ADI)

Historical P/FCF Ratio for Analog Devices (ADI) from 2002 to 2025

About P/FCF Ratio at Analog Devices (ADI)

Analog Devices P/FCF Ratio by Year

Analog Devices P/FCF Ratio 2025: 26.9×

Analog Devices P/FCF Ratio 2024: 35.8×

Analog Devices P/FCF Ratio 2023: 22.4×

Analog Devices P/FCF Ratio 2022: 19.7×

Analog Devices P/FCF Ratio 2021: 35.1×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Analog Devices (ADI) Key Financials