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Analog Devices (ADI) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Feb 18, 2026
Analog Devices (ADI) reported revenue of $3.2B for the first quarter fiscal 2026 (Q1 FY26), +30% from a year earlier and +3% from the quarter before. Operating margin was 31.5%, net earnings $831M (26.3% of revenue).
Analog Devices, Q1 FY26: revenue $3.2B (+30% year over year), operating margin 31.5%, net earnings $831M, operating cash flow $1.4B. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.2B | +3% | +30% |
| Gross profit | $2.0B | +5% | +43% |
| Operating profit | $997M | +5% | +103% |
| Net earnings | $831M | +5% | +112% |
| Operating cash flow | $1.4B | -20% | +21% |
| Free cash flow | $1.3B | -15% | +29% |
What changed
Revenue was $3.2B in Q1 FY26, up 30% year over year and up 3% from the previous quarter.
Gross margin was 64.7%, up 5.7 points from a year earlier. Operating profit was $1.0B, a 31.5% margin (up 11.3 points year over year). Of the extra revenue versus a year earlier, 69% reached operating profit, above the 20% margin then. Operating expenses grew 12% against revenue growth of 30%. The fastest-growing cost line was SG&A (+21%). Net earnings were $0.83B, up 112% year over year. The effective tax rate was 12.2%.
Operating cash flow was $1.4B (up 21% year over year), 165% of net earnings. Non-cash charges added back $0.49B of depreciation and amortization and $0.09B of share-based compensation. Capital expenditures of $0.11B left free cash flow of $1.3B.
Questions
What was Analog Devices' revenue in the first quarter fiscal 2026?
Analog Devices (ADI) reported revenue of $3.2B for the first quarter fiscal 2026 (Q1 FY26), +30% from a year earlier and +3% from the quarter before.
Was Analog Devices profitable in the first quarter fiscal 2026?
Operating profit was $997M (31.5% of revenue) and net earnings $831M.
Source: Analog Devices 10-Q on SEC EDGAR.