Analog Devices

ADI consistently posts top-tier margins for semis: in fiscal Q3 2025 GAAP gross margin was 62 percent and adjusted gross margin ~69 percent; adjusted operating margin ~42 percent. TTM free cash flow margin was ~35 percent.

These indicate meaningful ability to price for value, especially in proprietary, high-performance products and safety-critical automotive/industrial sockets. While cycles and mix can pressure margins temporarily, the trajectory exiting the 2024 downturn shows renewed leverage as volumes return.).