Analog Devices, Inc. ADI

Name: ADI Crucible Score
Creator: Kaladin Capital Intelligence

TechnologySemiconductorsNASDAQ📅 Scored April 20, 2026

Price at analysis: $371.45

Crucible Score

54.0

Quality × Value Composite

KQI — Quality

66.4

B-

Fundamental Quality Index

KVI — Value

38.8

D-

Valuation Attractiveness Index

Crucible Verdict — ADI

Analog Devices shows solid operational fundamentals with strong diversification (77) and market position (76), but ADI trades at a significant premium that creates poor value metrics despite decent quality scores. The 85% earnings beat rate demonstrates execution consistency, yet insider selling signals caution at current levels. Fair value suggests 6% upside, but the quality-price mismatch limits compelling entry points.

— Kal, Kaladin Capital Intelligence

◆ KQI Quality Dimensions

Financial Quality

74.1

Growth Profile

66.2

Moat Durability

62.0

Management Effectiveness⚠

55.7

Diversification & Resilience

77.2

Market Position

76.0

Weakest dimension: Management Effectiveness (55.7)

◆ KVI Value Dimensions

DCF Margin of Safety

50.0

FCF Yield & Cash Returns

32.5

Relative Valuation

50.0

Growth-Adjusted Value

24.1

Historical Valuation

18.3

Macro Context

47.5

◆ DCF Valuation Scenarios

Bear Case

$268.50

Base Case

$392.30

Bull Case

$548.70

Price at Analysis

$371.45

Scenario	Fair Value	Rev CAGR (5yr)	Terminal Margin	WACC
🔴 Bear	$268.50	6.0%	25.0%	9.8%
🟢 Base	$392.30	10.0%	28.0%	9.1%
🟢 Bull	$548.70	14.0%	31.0%	8.5%

Key Assumptions: ADI's most recent year shows a significant revenue decline to ~$7.3B from a peak of ~$12.3B, reflecting semiconductor cyclicality; base case assumes recovery toward $12B+ over 5 years with ~28% steady-state operating margins reflecting the historical average excluding peak years. Tax rate assumed at 10% given ADI's historically low effective rates averaging near 8-16%, and capex intensity normalized at 6.5% of revenue reflecting the ramp-down from the elevated ~10% level seen during capacity expansion. WACC calculated using CAPM with 5.5% ERP for base (semiconductor sector risk), with bear/bull cases adjusting ERP by +/-50bps.

◆ Financial Snapshot

Profitability

Gross Margin62.8%

Operating Margin29.2%

Net Margin23.0%

ROIC5.1%

ROE9.2%

Balance Sheet

Balance SheetCR: 1.76

Cash ConversionFCF/EPS: 1.68x

Capital IntensityCapex/Rev: 4.8%

Altman Z-Score8.55 (Safe)

Piotroski F-Score7/9 (Good)

Growth

Revenue CAGR10.8% CAGR

Earnings CAGR13.0% CAGR

Growth ConsistencyCV: 1.69

Segment Breadth0/4 growing (0%)

Quarterly TrendRev↑, Margin↑

Earnings CredibilityConsistent Beater

◆ Analyst Consensus & Leadership

Analyst Price Targets

Avg Target (Last Quarter)$370.83

Analysts Covering (Quarter)29

Avg Target (Last Year)$336.58

Analysts (Year)45

Leadership & Governance

CEOVincent Roche · 9 years

CEO Ownership< 1%

Insider ActivitySelling

Capital AllocationROIC 5.1% vs WACC 2.9%

Earnings Beat Rate85% (19/22)

◆ Company Profile

Analog Devices, Inc. designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies.

CEO

Vincent T. Roche

Employees

24000

Headquarters

Wilmington, MA, US

IPO Date

March 17, 1980

Exchange

NASDAQ

Website

analog.com

◆ Related Companies in Our Universe

Other Technology companies scored by the Crucible:

ADBE81.8A-NICE80.7A-DECK79.9A-INTU79.9A-EXEL78.3A-MTCH78.2A-TTD78.0B+

Methodology All Scores Crucible Briefs Performance @KaladinCI

Analysis conducted April 20, 2026 based on most recent SEC filings. Updated quarterly, after new SEC filings.

Point-in-time fundamental analysis. Not investment advice. Scores reflect company quality and valuation at time of analysis and may not reflect current market conditions.