Analog Devices delivers strong Q3 2026 results with record Q4 outlook
Aug 19, 2026, 7:04 AM EDT2 sourcesAI-analyzed
Why it may matterVerify against the original reporting
The company beat revenue/margin expectations, issued a higher Q4 outlook, and demonstrated strong free cash flow and cash returns, which historically supports multiple expansion and valuation re-rating in a secular AI-capital-spend cycle. Positive guidance tends to drive near-term stock upside, while robust FCF provides a cushion against macro risk.
AI summary
What happened, with direct paths to the underlying reporting
Analog Devices posted Q3 2026 revenue of about $4.02B, led by AI-driven data-center and industrial demand. The company generated $5.5B in trailing operating cash flow and $4.9B in free cash flow, while returning $1.7B to shareholders in the quarter. With a Q4 revenue guide of roughly $4.3B and favorable margins, ADI signals durable cash generation and upside into FY2027.
Q3 2026 revenue $4.02B; Data Center and Industrial led growth.
Trailing 12M OCF $5.5B; FCF $4.9B (40%/36%).
Returned $1.7B to shareholders via dividends and buybacks in Q3.
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