Analog Devices

Revenue is diversified across industrial (45 percent), automotive (30 percent), communications (13 percent), and consumer (13 percent) as of the latest quarter, with significant recurring characteristics from long product lifecycles and sticky sockets.

That said, analog semis remain cyclical with inventory corrections and macro sensitivity, evidenced by a 23 percent revenue decline in FY2024 before a recovery in FY2025. Geographic mix includes roughly 23 percent from China in FY2024, implying moderate exposure to policy/trade swings.

ADI’s TTM bookings and backlog trends point to an upswing into FY2025, improving near-term visibility.