Reports › ADI › 10-Q FY2026

SEC filings, compared

What changed in Analog Devices's 10-Q for the quarter ended August 1, 2026

Compared with the 10-Q for the quarter ended August 2, 2025. Part I, Item 2 and Part II, Item 1A analysed; every summary checked against the quoted filing text.

Registrant: ANALOG DEVICES INC · ADI
This filing: 0000006281-26-000073 ↗ · filed Aug 19, 2026
Compared with: 0000006281-25-000144 ↗ · filed Aug 20, 2025
Processed: Sep 20, 2026 UTC · parser-v5 · classify-v4 · select-v1

Research tool. Describes what filings say. Not investment advice. Verify independently. Read the cited paragraph before relying on it.

How a report is made

33 material changes among 59 changed paragraphs

13 shown by default across the three sections below; each section's "Show all" reaches the rest, in filing order.

Numbers from XBRL

Each figure is the one the filing itself tagged, taken from the filing that reported it. Not written by a model.

Concept	FY2026	FY2025	Change (our arithmetic)
Revenueus-gaap:RevenueFromContractWithCustomerExcludingAssessedTax	4,021,899,000USD · May 3, 2026 to Aug 1, 2026	2,880,348,000USD · May 4, 2025 to Aug 2, 2025	+1,141,551,000+39.6%
Net income or lossus-gaap:NetIncomeLoss	1,340,090,000USD · May 3, 2026 to Aug 1, 2026	518,518,000USD · May 4, 2025 to Aug 2, 2025	+821,572,000+158.4%
Cash and cash equivalentsus-gaap:CashAndCashEquivalentsAtCarryingValue	2,165,870,000USD · at Aug 1, 2026	2,321,191,000USD · at Aug 2, 2025	−155,321,000−6.7%
Net cash from operating activitiesus-gaap:NetCashProvidedByUsedInOperatingActivities	3,844,515,000USD · Nov 2, 2025 to Aug 1, 2026	3,111,392,000USD · Nov 3, 2024 to Aug 2, 2025	+733,123,000+23.6%

Values as tagged in the filing's inline XBRL, resolved by accession rather than by period matching. When a value is not tagged, we show that instead of estimating it. FY2026: 0000006281-26-000073 · FY2025: 0000006281-25-000144

What the company says for the first time

Paragraphs with no counterpart in the prior filing.

3 material additions

Part I, Item 2 · MD&A

3 of 3 shown · In filing order, too few to rank

01AddedPart I, Item 2 › Results of Operations

Summary · quote-checked

Added discussion identifies highest-growth markets and attributes Communications growth to data center demand driven by artificial intelligence infrastructure investments.

The new text adds substantive results commentary about growth concentration and a specific driver, rather than merely updating wording, dates, or presentation.

Filing text · FY2025 10-Q · filed Aug 20, 2025

No corresponding language in the FY2025 10-Q.

Filing text · FY2026 10-Q · filed Aug 19, 2026

Revenue increased 40% and 36% in the three- and nine-month periods ended August 1, 2026 as compared to the same periods of the prior fiscal year, reflecting broad-based demand across end markets. Within Industrial, all sub-markets grew, [added] with test equipment and aerospace and defense representing the highest growth. The strongest growth within Communications came from the data center sub-market, driven by artificial intelligence-related infrastructure investments.

Cite this change

"with test equipment and aerospace and defense representing the highest growth. The strongest growth within Communications came from the data center sub-market, driven by artificial intelligence-related infrastructure investments."

Analog Devices, Form 10-Q for FY2026, Part I, Item 2, accession 0000006281-26-000073, filed 19 August 2026.

Filing: https://www.sec.gov/Archives/edgar/data/6281/000000628126000073/adi-20260801.htm

Comparison: https://yearover.com/reports/adi/0000006281-26-000073?ref=quote

02AddedPart I, Item 2 › Results of Operations

Summary · quote-checked

Added disclosure explaining that effective tax rates were below the U.S. statutory rate because of lower foreign tax rates.

The new paragraph introduces a substantive explanation of the company’s effective tax rates and the foreign-jurisdiction tax-rate dependency.

Filing text · FY2025 10-Q · filed Aug 20, 2025

No corresponding language in the FY2025 10-Q.

Filing text · FY2026 10-Q · filed Aug 19, 2026

[added] The Company's effective tax rates for the three- and nine-month periods ended August 1, 2026 are below the U.S. statutory tax rate of 21% due to lower statutory tax rates applicable to the Company's operations in the foreign jurisdictions in which it earns income.

Cite this change

"The Company's effective tax rates for the three- and nine-month periods ended August 1, 2026 are below the U.S. statutory tax rate of 21% due to lower statutory tax rates applicable to the Company's operations in the foreign jurisdictions in which it earns income."

Analog Devices, Form 10-Q for FY2026, Part I, Item 2, accession 0000006281-26-000073, filed 19 August 2026.

Filing: https://www.sec.gov/Archives/edgar/data/6281/000000628126000073/adi-20260801.htm

Comparison: https://yearover.com/reports/adi/0000006281-26-000073?ref=quote

03AddedPart I, Item 2 › Liquidity and Capital Resources

Summary · quote-checked

Added disclosure attributes the change from the prior fiscal year to lower debt proceeds and higher common stock repurchases.

The new paragraph states substantive liquidity drivers involving financing proceeds and share repurchases, rather than merely updating wording or dates.

Filing text · FY2025 10-Q · filed Aug 20, 2025

No corresponding language in the FY2025 10-Q.

Filing text · FY2026 10-Q · filed Aug 19, 2026

Financing cash flows generally consist of payments of dividends to stockholders, repurchases of common stock, issuances and repayments of debt and proceeds from the sale of shares of common stock pursuant to employee equity incentive plans. The change in cash used for financing activities during the nine-month period ended August 1, 2026, as compared to the same [added] period of the prior fiscal year, was primarily the result of lower net proceeds from our debt obligations and higher common stock repurchases.

Cite this change

"period of the prior fiscal year, was primarily the result of lower net proceeds from our debt obligations and higher common stock repurchases."

Analog Devices, Form 10-Q for FY2026, Part I, Item 2, accession 0000006281-26-000073, filed 19 August 2026.

Filing: https://www.sec.gov/Archives/edgar/data/6281/000000628126000073/adi-20260801.htm

Comparison: https://yearover.com/reports/adi/0000006281-26-000073?ref=quote

What the company no longer says

Paragraphs of the prior filing that this filing dropped. Only last year's text can show these.

7 material removals

Part I, Item 2 · MD&A

5 of 7 shown · Ordered by the model, quote-checked

01RemovedPart I, Item 2 › Contractual Obligations

Summary · quote-checked

Disclosure of the 2028 Notes and 2030 Notes issuance, interest payments, maturities, and related debt information was removed.

The removed paragraph disclosed newly issued debt, principal amounts, maturities, and semi-annual interest obligations, changing the stated financing commitments.

Why the model ranked it here

The removal obscures newly disclosed debt obligations, maturities, and interest payments that define the company’s financing commitments.

Filing text · FY2025 10-Q · filed Aug 20, 2025

[removed] In the third quarter of fiscal 2025, we issued $850.0 million aggregate principal amount of 4.250% senior unsecured notes due June 15, 2028 (2028 Notes) and $650.0 million aggregate principal amount of 4.500% senior unsecured notes due June 15, 2030 (2030 Notes). The 2028 Notes and the 2030 Notes have semi-annual fixed interest payments due on June 15 and December 15 of each year, commencing December 15, 2025. For additional information, see Note 10, Debt, in the Notes to Condensed Consolidated Financial Statements in Part I, Item 1 of this Quarterly Report on Form 10-Q.

Filing text · FY2026 10-Q · filed Aug 19, 2026

No corresponding language in the FY2026 10-Q.

Cite this change

"In the third quarter of fiscal 2025, we issued $850.0 million aggregate principal amount of 4.250% senior unsecured notes due June 15, 2028 (2028 Notes) and $650.0 million aggregate principal amount of 4.500% senior unsecured notes due June 15, 2030 (2030 Notes). The 2028 Notes and the 2030 Notes have semi-annual fixed interest payments due on June 15 and December 15 of each year, commencing December 15, 2025. For additional information, see Note 10, Debt, in the Notes to Condensed Consolidated Financial Statements in Part I, Item 1 of this Quarterly Report on Form 10-Q."

Analog Devices, Form 10-Q for FY2025, Part I, Item 2, accession 0000006281-25-000144, filed 20 August 2025.

Filing: https://www.sec.gov/Archives/edgar/data/6281/000000628125000144/adi-20250802.htm

Comparison: https://yearover.com/reports/adi/0000006281-26-000073?ref=quote

02RemovedPart I, Item 2 › Results of Operations

Summary · quote-checked

Removed an MD&A explanation of nine-month increases by end market and the offsetting impact of an additional operating week.

The removed paragraph disclosed substantive revenue drivers and an offsetting period effect, changing the explanation of reported results rather than merely updating wording or periods.

Why the model ranked it here

The removal makes it harder to understand which end markets and customer inventory conditions drove revenue changes and how the reporting-period effect offset them.

Filing text · FY2025 10-Q · filed Aug 20, 2025

[removed] In addition to increased demand, the increase in the nine-month period is due to customer inventory balances normalizing in the Industrial end market, the increases in the Automotive end market are primarily driven by increases from connectivity solutions, and the increases in the Communications end market are primarily driven by growth in the wireline sub-market from data center infrastructure build outs, primarily to support growth in artificial intelligence applications. The increases in the Consumer end market are primarily related to portable consumer products. These increases in the nine-month period were partially offset by the impact of an additional week of operations in the first quarter of fiscal 2024 as compared to the first quarter of fiscal 2025.

Filing text · FY2026 10-Q · filed Aug 19, 2026

No corresponding language in the FY2026 10-Q.

Cite this change

"In addition to increased demand, the increase in the nine-month period is due to customer inventory balances normalizing in the Industrial end market, the increases in the Automotive end market are primarily driven by increases from connectivity solutions, and the increases in the Communications end market are primarily driven by growth in the wireline sub-market from data center infrastructure build outs, primarily to support growth in artificial intelligence applications."

Analog Devices, Form 10-Q for FY2025, Part I, Item 2, accession 0000006281-25-000144, filed 20 August 2025.

Filing: https://www.sec.gov/Archives/edgar/data/6281/000000628125000144/adi-20250802.htm

Comparison: https://yearover.com/reports/adi/0000006281-26-000073?ref=quote

03RemovedPart I, Item 2 › Results of Operations

Summary · quote-checked

The current filing removes the disclosure that amortization expenses decreased and explains the decrease through acquired intangible assets becoming fully amortized.

Removing an MD&A results narrative eliminates a stated expense trend and its driver, changing the substance of the company’s reported operating explanation.

Why the model ranked it here

The removal eliminates the explanation that declining amortization reflected acquired intangible assets becoming fully amortized, which bears on the operating expense trend.

Filing text · FY2025 10-Q · filed Aug 20, 2025

[removed] Amortization expenses decreased in the three- and nine-month periods ended August 2, 2025, as compared to the same periods of the prior fiscal year, primarily as a result of a portion of our acquired intangible assets becoming fully amortized during fiscal 2024.

Filing text · FY2026 10-Q · filed Aug 19, 2026

No corresponding language in the FY2026 10-Q.

Cite this change

"Amortization expenses decreased in the three- and nine-month periods ended August 2, 2025, as compared to the same periods of the prior fiscal year, primarily as a result of a portion of our acquired intangible assets becoming fully amortized during fiscal 2024."

Analog Devices, Form 10-Q for FY2025, Part I, Item 2, accession 0000006281-25-000144, filed 20 August 2025.

Filing: https://www.sec.gov/Archives/edgar/data/6281/000000628125000144/adi-20250802.htm

Comparison: https://yearover.com/reports/adi/0000006281-26-000073?ref=quote

04RemovedPart I, Item 2 › Results of Operations

Summary · quote-checked

The filing removed the explanation that the decrease in nonoperating expense was primarily driven by higher interest income, lower interest expense and lower foreign currency expenses.

This removes a substantive MD&A results explanation and its stated drivers, rather than merely updating periods, figures or presentation.

Why the model ranked it here

The removal obscures the drivers of lower nonoperating expense, including changes in interest income, interest expense, and foreign currency costs.

Filing text · FY2025 10-Q · filed Aug 20, 2025

[removed] The year-over-year decrease in nonoperating expense (income) in the nine-month period ended August 2, 2025, as compared to the same period of the prior fiscal year, was primarily due to the result of higher interest income on our cash, cash equivalents and short-term investments, lower interest expense on our debt obligations and lower foreign currency expenses.

Filing text · FY2026 10-Q · filed Aug 19, 2026

No corresponding language in the FY2026 10-Q.

Cite this change

"The year-over-year decrease in nonoperating expense (income) in the nine-month period ended August 2, 2025, as compared to the same period of the prior fiscal year, was primarily due to the result of higher interest income on our cash, cash equivalents and short-term investments, lower interest expense on our debt obligations and lower foreign currency expenses."

Analog Devices, Form 10-Q for FY2025, Part I, Item 2, accession 0000006281-25-000144, filed 20 August 2025.

Filing: https://www.sec.gov/Archives/edgar/data/6281/000000628125000144/adi-20250802.htm

Comparison: https://yearover.com/reports/adi/0000006281-26-000073?ref=quote

05RemovedPart I, Item 2 › Results of Operations

Summary · quote-checked

The current report removes the table presenting amortization expenses and amortization expenses as a percentage of revenue.

The disappearance of a numeric table changes what financial information is disclosed, rather than merely rolling forward recurring figures.

Filing text · FY2025 10-Q · filed Aug 20, 2025

~~[removed] |[removed] Three Months Ended | Nine Months Ended[removed] August 2, 2025 | August 3, 2024 | $ Change | % Change | August 2, 2025 | August 3, 2024 | $ Change | % Change[removed] Amortization expenses | $ | 187,415 | $ | 187,754 | $ | (339) | - | % | $ | 562,245 | $ | 567,030 | $ | (4,785) | (1) | %[removed] Amortization expenses as a % of revenue | 7 | % | 8 | % | 7 | % | 8 | %~~

Filing text · FY2026 10-Q · filed Aug 19, 2026

No corresponding language in the FY2026 10-Q.

Cite this change

"Three Months Ended | Nine Months Ended August 2, 2025 | August 3, 2024 | $ Change | % Change | August 2, 2025 | August 3, 2024 | $ Change | % Change Amortization expenses | $ | 187,415 | $ | 187,754 | $ | (339) | - | % | $ | 562,245 | $ | 567,030 | $ | (4,785) | (1) | % Amortization expenses as a % of revenue | 7 | % | 8 | % | 7 | % | 8 | %"

Analog Devices, Form 10-Q for FY2025, Part I, Item 2, accession 0000006281-25-000144, filed 20 August 2025.

Filing: https://www.sec.gov/Archives/edgar/data/6281/000000628125000144/adi-20250802.htm

Comparison: https://yearover.com/reports/adi/0000006281-26-000073?ref=quote

Show all 7 in Part I, Item 2 (2 more, in filing order)

What the company says differently

Paragraphs that changed between the two filings, shown as a word diff.

23 material changes

Part I, Item 2 · MD&A

5 of 23 shown · Ordered by the model, quote-checked

01Figures updatedPart I, Item 2 › Liquidity and Capital Resources

Summary · quote-checked

Principal liquidity decreased from $3.5 billion to $2.3 billion, while U.S.-held funds decreased from approximately $2.3 billion to approximately $1.0 billion.

Although the dates roll forward, the changed liquidity amounts alter the stated level of available funds and geographic concentration, leading readers to a different conclusion about liquidity.

Why the model ranked it here

The disclosed liquidity base declined substantially and a smaller portion is held domestically, changing the reader’s view of available funds and geographic liquidity concentration.

Filing text · FY2025 10-Q · filed Aug 20, 2025

At August ~~[removed] 2, 2025,~~ our principal source of liquidity was ~~[removed] $3.5~~ billion of cash, cash equivalents and short-term investments, of which approximately ~~[removed] $2.3~~ billion was held in the United States, and the balance of which was held outside the United States in various foreign subsidiaries. We manage our worldwide cash requirements by, among other things, reviewing available funds held by our foreign subsidiaries and the cost effectiveness by which those funds can be accessed in the United States. We do not expect current regulatory restrictions or taxes on repatriation to have a material adverse effect on our overall liquidity, financial condition or results of operations. Our cash, cash equivalents and short-term investments consist of highly liquid investments, including money market funds and corporate and bank obligations. We maintain these balances with counterparties with high credit ratings, and continually monitor the amount of credit exposure to any one issuer and diversify our investments in order to minimize our credit risk.

Filing text · FY2026 10-Q · filed Aug 19, 2026

At August [added] 1, 2026, our principal source of liquidity was [added] $2.3 billion of cash, cash equivalents and short-term investments, of which approximately [added] $1.0 billion was held in the United States, and the balance of which was held outside the United States in various foreign subsidiaries. We manage our worldwide cash requirements by, among other things, reviewing available funds held by our foreign subsidiaries and the cost effectiveness by which those funds can be accessed in the United States. We do not expect current regulatory restrictions or taxes on repatriation to have a material adverse effect on our overall liquidity, financial condition or results of operations. Our cash, cash equivalents and short-term investments consist of highly liquid investments, including money market funds and corporate and bank obligations. We maintain these balances with counterparties with high credit ratings, and continually monitor the amount of credit exposure to any one issuer and diversify our investments in order to minimize our credit risk.

Cite this change

"At August 1, 2026, our principal source of liquidity was $2.3 billion of cash, cash equivalents and short-term investments, of which approximately $1.0 billion was held in the United States, and the balance of which was held outside the United States in various foreign subsidiaries."

Analog Devices, Form 10-Q for FY2026, Part I, Item 2, accession 0000006281-26-000073, filed 19 August 2026.

Filing: https://www.sec.gov/Archives/edgar/data/6281/000000628126000073/adi-20260801.htm

Comparison: https://yearover.com/reports/adi/0000006281-26-000073?ref=quote

02ChangedPart I, Item 2 › Liquidity and Capital Resources

Summary · quote-checked

Current liabilities shifted from a decrease driven by debt repayment to a substantial increase driven by debt reclassification, commercial paper, accrued liabilities, and lower income taxes payable.

The statement reverses direction and replaces the drivers, including a newly described $1.3 billion debt reclassification due within one year and increased commercial paper notes.

Why the model ranked it here

Current liabilities reversed from a slight decrease to a substantial increase, including debt becoming due within one year and greater commercial-paper reliance.

Filing text · FY2025 10-Q · filed Aug 20, 2025

Current liabilities ~~[removed] decreased to $2,979.0 million~~ at August ~~[removed] 2, 2025~~ as compared to ~~[removed] $2,988.3 million~~ at the end of fiscal ~~[removed] 2024~~ primarily due to the ~~[removed] repayment of approximately $400.0 million~~ of debt ~~[removed] during the second quarter of fiscal 2025~~ partially offset by ~~[removed] higher accrued liabilities.~~

Filing text · FY2026 10-Q · filed Aug 19, 2026

Current liabilities [added] increased to $5.7 billion at August [added] 1, 2026 as compared to [added] $3.2 billion at the end of fiscal [added] 2025 primarily due to the [added] reclassification of $1.3 billion of debt [added] due within one year to current liabilities as well as an increase in commercial paper notes and accrued liabilities, partially offset by [added] a decrease in income taxes payable.

Cite this change

"Current liabilities increased to $5.7 billion at August 1, 2026 as compared to $3.2 billion at the end of fiscal 2025 primarily due to the reclassification of $1.3 billion of debt due within one year to current liabilities as well as an increase in commercial paper notes and accrued liabilities, partially offset by a decrease in income taxes payable."

Analog Devices, Form 10-Q for FY2026, Part I, Item 2, accession 0000006281-26-000073, filed 19 August 2026.

Filing: https://www.sec.gov/Archives/edgar/data/6281/000000628126000073/adi-20260801.htm

Comparison: https://yearover.com/reports/adi/0000006281-26-000073?ref=quote

03ChangedPart I, Item 2 › Liquidity and Capital Resources

Summary · quote-checked

Commercial paper capacity rose from $2.5 billion to $3.0 billion, outstanding borrowings increased to $1.0 billion, and the use statement changed from “use” to “intend to use.”

The stated borrowing capacity and outstanding borrowings changed, altering disclosed liquidity exposure; the financing-purpose language also changed from current use to intended use.

Why the model ranked it here

Higher commercial-paper capacity and outstanding borrowings change the company’s disclosed short-term funding exposure.

Filing text · FY2025 10-Q · filed Aug 20, 2025

Under our commercial paper program, we may issue short-term, unsecured commercial paper notes in amounts up to a maximum aggregate face amount of ~~[removed] $2.5~~ billion outstanding at any time, with maturities of up to 397 days from the date of issuance. As of August ~~[removed] 2, 2025,~~ we had ~~[removed] $548.7 million~~ of outstanding borrowings under the commercial paper program recorded in the Condensed Consolidated Balance Sheet. [removed] In August 2025, during our fourth fiscal quarter, we increased the aggregate amount we may issue under our commercial paper program from $2.5 billion to $3.0 billion outstanding at any time. We use the net proceeds of the commercial paper program for general corporate purposes, including without limitation, repayment of indebtedness, stock repurchases, acquisitions, capital expenditures and working capital.

Filing text · FY2026 10-Q · filed Aug 19, 2026

Under our commercial paper program, we may issue short-term, unsecured commercial paper notes in amounts up to a maximum aggregate face amount of [added] $3.0 billion outstanding at any time, with maturities of up to 397 days from the date of issuance. As of August [added] 1, 2026, we had [added] $1.0 billion of outstanding borrowings under the commercial paper program recorded in the Condensed Consolidated Balance Sheet. [added] We intend to use the net proceeds of the commercial paper program for general corporate purposes, including without limitation, repayment of indebtedness, stock repurchases, acquisitions, capital expenditures and working capital.

Cite this change

"Under our commercial paper program, we may issue short-term, unsecured commercial paper notes in amounts up to a maximum aggregate face amount of $3.0 billion outstanding at any time, with maturities of up to 397 days from the date of issuance. As of August 1, 2026, we had $1.0 billion of outstanding borrowings under the commercial paper program recorded in the Condensed Consolidated Balance Sheet."

Analog Devices, Form 10-Q for FY2026, Part I, Item 2, accession 0000006281-26-000073, filed 19 August 2026.

Filing: https://www.sec.gov/Archives/edgar/data/6281/000000628126000073/adi-20260801.htm

Comparison: https://yearover.com/reports/adi/0000006281-26-000073?ref=quote

04ChangedPart I, Item 2 › Liquidity and Capital Resources

Summary · quote-checked

The disclosure updates the revolving credit arrangements, adding a 364-day facility, naming lenders and agents, and increasing aggregate capacity from $3.0 billion to $6.0 billion.

The paragraph changes the disclosed credit facilities, capacity, counterparties, and terms, while removing stated potential uses of proceeds; these alter the company’s liquidity and financing disclosure.

Why the model ranked it here

The financing structure now includes a shorter-term revolving facility and materially greater aggregate borrowing capacity, altering the liquidity profile.

Filing text · FY2025 10-Q · filed Aug 20, 2025

~~[removed] The~~ Revolving Credit Agreement [removed] provides for a five-year unsecured revolving credit facility in an aggregate principal amount not to exceed $3.0 billion (subject to certain terms and conditions). We may borrow under this revolving credit facility in the future and use the proceeds for repayment of existing indebtedness, stock repurchases, acquisitions, capital expenditures, working capital and other lawful corporate purposes.

Filing text · FY2026 10-Q · filed Aug 19, 2026

[added] Our Fourth Amended and Restated Revolving Credit Agreement [added] entered into in April 2025 and our 364-Day Revolving Credit Agreement entered into in July 2026, each with Bank of America N.A. as administrative agent and the other banks identified therein as lenders, provide for a five-year and a 364-day unsecured revolving credit facility, respectively, in an aggregate principal amount not to exceed $6.0 billion, subject to certain terms and conditions.

Cite this change

"Our Fourth Amended and Restated Revolving Credit Agreement entered into in April 2025 and our 364-Day Revolving Credit Agreement entered into in July 2026, each with Bank of America N.A. as administrative agent and the other banks identified therein as lenders, provide for a five-year and a 364-day unsecured revolving credit facility, respectively, in an aggregate principal amount not to exceed $6.0 billion, subject to certain terms and conditions."

Analog Devices, Form 10-Q for FY2026, Part I, Item 2, accession 0000006281-26-000073, filed 19 August 2026.

Filing: https://www.sec.gov/Archives/edgar/data/6281/000000628126000073/adi-20260801.htm

Comparison: https://yearover.com/reports/adi/0000006281-26-000073?ref=quote

05ChangedPart I, Item 2 › Liquidity and Capital Resources

Summary · quote-checked

The liquidity outlook adds acquisitions as a planned funding use and removes the qualification that dividend payments may not occur.

Adding acquisitions changes the stated uses of liquidity, while removing “if any” makes dividend payments less qualified; both alter the substance of the funding disclosure.

Why the model ranked it here

The liquidity outlook now explicitly includes acquisitions as a funding need and treats dividend payments as an expected use rather than a qualified possibility.

Filing text · FY2025 10-Q · filed Aug 20, 2025

We believe that our existing sources of liquidity and cash expected to be generated from future operations, together with existing and anticipated available short- and long-term financing, will be sufficient to fund operations, capital expenditures, research and development efforts and dividend payments ~~[removed] (if any)~~ in the immediate future and for at least the next twelve months.

Filing text · FY2026 10-Q · filed Aug 19, 2026

We believe that our existing sources of liquidity and cash expected to be generated from future operations, together with existing and anticipated available short- and long-term financing, will be sufficient to fund operations, capital expenditures, [added] acquisitions, research and development efforts and dividend payments in the immediate future and for at least the next twelve months.

Cite this change

"We believe that our existing sources of liquidity and cash expected to be generated from future operations, together with existing and anticipated available short- and long-term financing, will be sufficient to fund operations, capital expenditures, acquisitions, research and development efforts and dividend payments in the immediate future and for at least the next twelve months."

Analog Devices, Form 10-Q for FY2026, Part I, Item 2, accession 0000006281-26-000073, filed 19 August 2026.

Filing: https://www.sec.gov/Archives/edgar/data/6281/000000628126000073/adi-20260801.htm

Comparison: https://yearover.com/reports/adi/0000006281-26-000073?ref=quote

Show all 23 in Part I, Item 2 (18 more, in filing order)

What the company reported as changed this quarter

We have not parsed the annual report this quarter's risk factors refers to, so we cannot tell whether it restates the section or reports changes to it. Nothing is compared until we can.

Part II, Item 1A · Risk Factors

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