Analog Devices Reports Record Fiscal Third Quarter 2026 Financial Results
Analog Devices reported record fiscal third-quarter 2026 revenue of $4.02 billion, with year-over-year growth led by Data Center and Industrial, while trailing-twelve-month operating cash flow reached $5.5 billion and free cash flow $4.9 billion. The print strengthens the cyclical recovery setup for ADI, but the supplied data does not establish the size of the beat or forward guidance.
What happened
Analog Devices reported record fiscal third-quarter 2026 revenue of $4.02 billion, with year-over-year growth led by Data Center and Industrial, while trailing-twelve-month operating cash flow reached $5.5 billion and free cash flow $4.9 billion.
The read · Aug 21
The record revenue and cash-generation print move the risk to the upside for ADI, with forward guidance now the key catalyst for sustaining the recovery.
Wrong if
The trade breaks if forward guidance fails to confirm the Data Center and Industrial growth drivers or if the reported revenue does not translate into stronger earnings momentum.
CoverageSource: PR Newswire · Published here FRI, AUG 21 · 5:31 AM ET · 4 outlets in this record · latest listed: Yahoo Finance at 5:31 AM ETHow this is decided →
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The story1 min read
The company said fiscal third-quarter revenue was $4.02 billion, with Data Center and Industrial leading year-over-year growth. On a trailing-twelve-month basis, operating cash flow was $5.5 billion and free cash flow was $4.9 billion, equal to 40% and 36% of revenue, respectively. Analog Devices also said it returned $1.7 billion to shareholders through dividends and other capital returns.
The result directly touches ADI, whose supplied fiscal-year enrichment shows $11.0 billion of revenue, up 16.9% year over year, with 61.5% gross margins and 20.6% net margins. The mechanism is a combination of demand recovery in Data Center and Industrial and the conversion of revenue into substantial cash generation.
The next read-through is the company’s forward outlook, including the pace of Data Center and Industrial demand and whether the record quarter broadens across the portfolio. The supplied report does not include earnings per share, a revenue surprise versus consensus, or updated guidance, leaving the market’s exact reaction dependent on those omitted details.
The read, in fullWhy it matters
The operating setup improves because growth is coming from Data Center and Industrial while trailing-twelve-month free cash flow reached $4.9 billion, or 36% of revenue. ADI’s supplied enrichment already shows 16.9% year-over-year revenue growth and 61.5% gross margins, so the missing forward guidance is the main condition for extending the read rather than a reason to discount the quarter outright.
The read above, as written. kept as written · closes shown from AUG 21 on
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Since this story · named here, equal weight · 1D EOD-2.9%
AUG 21 · first close after publicationSEP 4
Price context does not establish that the story caused the move.
▲ The case it holds
Record $4.02 billion revenue, 16.9% year-over-year revenue growth in the supplied enrichment, and $4.9 billion of trailing-twelve-month free cash flow provide a concrete recovery and cash-return foundation.
▼ The case it breaks
The bear case is limited in the supplied data: the report gives no revenue or earnings comparison with consensus and no forward guidance, so the record quarter may not establish the next leg of growth.
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