Analog Devices, Inc.

ADI · Technology · $184.0B mkt cap · FY2025 filings · Narrow moat

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Narrow moat

The four filters

Pricing power97

Median gross margin 63.4% over 10y, very stable.

Returns on capital38

Median ROIC 9.7%, above the 9% hurdle in 50% of years.

Balance-sheet safety45

Net debt/EBITDA 2.1x, interest coverage 9x.

Capital discipline53

Owner earnings +10.0%/yr, share count growing (dilution).

Margin of safety

Above valueOn sale

490% above value

Owner earnings (normalized): $1.7B
Est. intrinsic value / share: $63.74
Recent price: $375.72
Discount to value: 490% above value

Conservative model: 9% discount rate, 4% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

Moat Score history

Score history begins 2026-07-17. Check back as the record builds.

Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell ADI. See the disclaimer.