Analog Devices (ADI) Risk Factor Changes

The stock market has historically experienced volatility, especially within the semiconductor industry, that often has been unrelated to the performance of particular companies, such as the response to recently announ…

From time to time, we may enter into “green” financing arrangements that require us to use proceeds for environmental sustainability purposes or have targets related to environmental sustainability.

As of November 1, 2025, we had approximately $8.6 billion in outstanding indebtedness, including $446.6 million of short-term commercial paper.

A number of factors may increase our future effective tax rate, including: new or revised tax laws or legislation or the interpretation of such laws or legislation by governmental authorities; increases in tax rates i…

Our effective tax rate reflects the applicable tax rate in effect in the various tax jurisdictions around the world where our income is earned.

Our industry is subject to EHS requirements and laws, particularly those that control and restrict the sourcing, use, transportation, emission, discharge, storage and disposal of certain substances and materials and t…

ESG matters, including climate change and sustainability, human rights, support for local communities, workforce diversity, human capital management, employee health and safety practices, product quality, workers’ rig…

Expectations, requirements and attention to environmental, social and governance matters may have an adverse effect on our business, financial condition and results of operations, and damage our brand and reputation.

technologies.

We rely on information technology systems throughout our company to keep financial records and customer data, process orders, manage inventory, coordinate shipments to customers, maintain confidential and proprietary…

Semiconductor products are highly complex and may contain defects that affect their quality or performance.

We believe that a critical contributor to our success to date has been our corporate culture, which we have built to foster innovation, teamwork and employee satisfaction.

Our continued success depends to a significant extent upon the recruitment, retention and effective succession of our key personnel, including our leadership team, management and technical personnel, particularly our…

fluctuations in demand based on end-user preferences.

•changes in our effective tax rates, adverse tax decisions or new or revised tax legislation in the United States, Ireland or worldwide, including changes related to the One Big Beautiful Bill Act;

for purposes for which they were not intended or that may be contrary to our ethical, legal and regulatory obligations.

Our manufacturing processes require availability of certain raw materials and supplies.

We are required to estimate the effects of variable consideration including price protection and stock rotation provided to distributors and record revenue at the time of sale to the distributor.

efforts for our products.

additional import or export duties and tariffs, restrictions on imports or exports, currency revaluations or retaliatory actions, which have had and may continue to have an adverse effect on our business plans and ope…

Many of these factors and risks are present and may be exacerbated within our business operations in China.

•natural disasters, public health emergencies or other catastrophic events;

•currency conversion risks and exchange rate and interest rate fluctuations and uncertainty;

facilities.

A number of factors may increase our future effective tax rate, including: new or revised tax laws or legislation or the interpretation of such laws or legislation by governmental authorities; increases in tax rates i…

We rely on information technology systems throughout our company to keep financial records and customer data, process orders, manage inventory, coordinate shipments to customers, maintain confidential and proprietary…

We do not maintain any key person life insurance policy on any of our officers or other employees.

We believe that a critical contributor to our success to date has been our corporate culture, which we have built to foster innovation, teamwork and employee satisfaction.

•sanctions imposed by governments in countries in which we do business;

•disruption to our operations and our ability to generate revenues;

AI technology may also give rise to significant legal and regulatory compliance risk.

property indemnity claims.

In addition, the semiconductor market has historically been cyclical and subject to significant economic upturns and downturns.

We market and sell our products directly and through third-party distributors.

Sales to third-party distributors accounted for approximately 56% of our revenue in the year ended November 1, 2025.

In 2025, the U.S.

Recently announced and future tariffs and other trade restrictions could materially and adversely affect our business, financial condition and results of operations.

•sanctions imposed by the U.S.