---
title: "Analog Devices: Business Model"
description: "Analog Devices revenue by business segment and geography from its fiscal 2025 Form 10-K, with each part's share, growth and profitability explained."
canonical: https://www.getswoopr.com/stocks/companies/analog-devices/business-model/
source: "Swoopr Investment: https://www.getswoopr.com"
---

# Analog Devices: Business Model & Revenue Engine



## Direct Answer

Analog Devices reports revenue across 4 business segments in its fiscal 2025 Form 10-K. Industrial is the largest, with $4.9 billion of revenue (45% of the total), followed by Automotive at $3.3 billion (30%). 29% of revenue came from the United States.

## How Does Analog Devices Make Money?

No single line supplies a majority of revenue: the largest, Industrial, is 45%, which spreads Analog Devices's exposure across several demand drivers. Between fiscal 2024 and 2025, Communications grew fastest (+26.2%) and Industrial slowest (+14.9%), so the revenue mix tilts toward Communications while that gap lasts.

| Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| Industrial | $4.9 billion | $4.3 billion | 44.7% | 14.9% |
| Automotive | $3.3 billion | $2.8 billion | 29.7% | 15.5% |
| Consumer | $1.4 billion | $1.2 billion | 13.0% | 18.8% |
| Communications | $1.4 billion | $1.1 billion | 12.5% | 26.2% |

![Bar chart of Analog Devices revenue by segment for fiscal 2025: Industrial 44.7%, Automotive 29.7%, Consumer 13.0%, Communications 12.5%.](https://www.getswoopr.com/images/charts/analog-devices-business-model-segment-mix.webp)
*Analog Devices revenue by segment as a share of total revenue, from the table above. The largest is highlighted. Select the chart to open it full size.*

## Where Does Analog Devices's Revenue Come From?

Regions follow the definitions in the filing; most companies assign revenue by customer location.

| Region | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| United States | $3.2 billion | $2.8 billion | 29.4% | 14.0% |
| China | $2.9 billion | $2.1 billion | 25.9% | 34.3% |
| Europe | $2.3 billion | $2.1 billion | 20.7% | 8.3% |
| Rest of Asia | $1.5 billion | $1.2 billion | 13.5% | 23.7% |
| Japan | $990 million | $1.1 billion | 9.0% | -8.8% |
| Rest of North and South America | $162 million | $62 million | 1.5% | 160.7% |

## What the Segment Figures Do Not Show

The rows above add up to 100% of Analog Devices's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.

## Where These Numbers Come From

Every figure on this page is a value Analog Devices reported in the segment note and revenue disclosures of its Form 10-K filed November 25, 2025 (accession 0000006281-25-000153), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.

Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.

## Frequently Asked Questions

### What are Analog Devices's business segments?

In its fiscal 2025 Form 10-K, Analog Devices reports revenue for Industrial, Automotive, Consumer and Communications.

### Which part of Analog Devices brings in the most revenue?

Industrial, with $4.9 billion of revenue in fiscal 2025, or 45% of the total.

### How much of Analog Devices's revenue comes from outside the United States?

71% in fiscal 2025, by the geographic breakdown Analog Devices reports in its Form 10-K. Companies assign revenue to regions differently (customer location, shipping address or selling entity), so check the filing's definition before comparing companies.

## References

- [SEC EDGAR: ANALOG DEVICES INC Form 10-K filed November 25, 2025](https://www.sec.gov/Archives/edgar/data/6281/000000628125000153/adi-20251101.htm)
- [SEC EDGAR: ANALOG DEVICES INC annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=6281&type=10-K)
- [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces)
- [SEC: Financial Statement Data Sets](https://www.sec.gov/data-research/sec-markets-data/financial-statement-data-sets)

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