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Side-by-side financial comparison of Analog Devices (ADI) and Freeport-McMoRan (FCX). Click either name above to swap in a different company.
Freeport-McMoRan is the larger business by last-quarter revenue ($5.3B vs $3.2B, roughly 1.7× Analog Devices). Analog Devices runs the higher net margin — 26.3% vs 10.7%, a 15.6% gap on every dollar of revenue. On growth, Analog Devices posted the faster year-over-year revenue change (30.4% vs -10.4%). Analog Devices produced more free cash flow last quarter ($1.3B vs $-312.0M). Over the past eight quarters, Analog Devices's revenue compounded faster (21.0% CAGR vs -7.9%).
Analog Devices, Inc. (ADI), also known simply as Analog, is an American multinational semiconductor company specializing in data conversion, signal processing, and power management technology, headquartered in Wilmington, Massachusetts.
Freeport-McMoRan Inc., often called Freeport, is an American mining company based in the Freeport-McMoRan Center, in Phoenix, Arizona. The company is the world's largest producer of molybdenum, a major copper producer and operates the world's largest gold mine, the Grasberg mine in Papua, Indonesia.
ADI vs FCX — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.2B | $5.3B |
| Net Profit | $830.8M | $565.0M |
| Gross Margin | 64.7% | 12.4% |
| Operating Margin | 31.5% | 15.4% |
| Net Margin | 26.3% | 10.7% |
| Revenue YoY | 30.4% | -10.4% |
| Net Profit YoY | 112.3% | -21.6% |
| EPS (diluted) | $1.69 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.1B | $5.3B | ||
| Q3 25 | $2.9B | $6.8B | ||
| Q2 25 | $2.6B | $7.5B | ||
| Q1 25 | $2.4B | $5.6B | ||
| Q4 24 | $2.4B | $5.9B | ||
| Q3 24 | $2.3B | $6.7B | ||
| Q2 24 | $2.2B | $6.4B |
| Q1 26 | $830.8M | — | ||
| Q4 25 | $787.7M | $565.0M | ||
| Q3 25 | $518.5M | $1.2B | ||
| Q2 25 | $569.8M | $1.5B | ||
| Q1 25 | $391.3M | $793.0M | ||
| Q4 24 | $478.1M | $721.0M | ||
| Q3 24 | $392.2M | $1.2B | ||
| Q2 24 | $302.2M | $1.3B |
| Q1 26 | 64.7% | — | ||
| Q4 25 | 63.1% | 12.4% | ||
| Q3 25 | 62.1% | 29.2% | ||
| Q2 25 | 61.0% | 34.2% | ||
| Q1 25 | 59.0% | 24.3% | ||
| Q4 24 | 58.0% | 27.0% | ||
| Q3 24 | 56.7% | 30.0% | ||
| Q2 24 | 54.7% | 31.5% |
| Q1 26 | 31.5% | — | ||
| Q4 25 | 30.7% | 15.4% | ||
| Q3 25 | 28.4% | 28.9% | ||
| Q2 25 | 25.7% | 32.3% | ||
| Q1 25 | 20.3% | 23.4% | ||
| Q4 24 | 23.3% | 21.1% | ||
| Q3 24 | 21.2% | 29.0% | ||
| Q2 24 | 17.9% | 32.0% |
| Q1 26 | 26.3% | — | ||
| Q4 25 | 25.6% | 10.7% | ||
| Q3 25 | 18.0% | 18.3% | ||
| Q2 25 | 21.6% | 20.6% | ||
| Q1 25 | 16.1% | 14.2% | ||
| Q4 24 | 19.6% | 12.3% | ||
| Q3 24 | 17.0% | 18.5% | ||
| Q2 24 | 14.0% | 20.0% |
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.60 | — | ||
| Q3 25 | $1.04 | $0.46 | ||
| Q2 25 | $1.14 | $0.53 | ||
| Q1 25 | $0.78 | $0.24 | ||
| Q4 24 | $0.95 | — | ||
| Q3 24 | $0.79 | $0.36 | ||
| Q2 24 | $0.61 | $0.42 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.9B | $3.8B |
| Total DebtLower is stronger | — | $9.4B |
| Stockholders' EquityBook value | $33.8B | $18.9B |
| Total Assets | $48.0B | $58.2B |
| Debt / EquityLower = less leverage | — | 0.50× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $2.9B | — | ||
| Q4 25 | $3.7B | $3.8B | ||
| Q3 25 | $2.3B | $4.3B | ||
| Q2 25 | $2.4B | $4.5B | ||
| Q1 25 | $2.3B | $4.4B | ||
| Q4 24 | $2.4B | $3.9B | ||
| Q3 24 | $2.1B | $5.0B | ||
| Q2 24 | $2.4B | $5.3B |
| Q1 26 | — | — | ||
| Q4 25 | — | $9.4B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $9.4B | ||
| Q4 24 | — | $8.9B | ||
| Q3 24 | — | $9.7B | ||
| Q2 24 | — | $9.4B |
| Q1 26 | $33.8B | — | ||
| Q4 25 | $33.8B | $18.9B | ||
| Q3 25 | $34.1B | $18.7B | ||
| Q2 25 | $35.0B | $18.2B | ||
| Q1 25 | $35.1B | $17.7B | ||
| Q4 24 | $35.2B | $17.6B | ||
| Q3 24 | $35.2B | $17.5B | ||
| Q2 24 | $35.2B | $17.4B |
| Q1 26 | $48.0B | — | ||
| Q4 25 | $48.0B | $58.2B | ||
| Q3 25 | $48.2B | $56.8B | ||
| Q2 25 | $47.3B | $56.5B | ||
| Q1 25 | $48.0B | $56.0B | ||
| Q4 24 | $48.2B | $54.8B | ||
| Q3 24 | $48.6B | $55.4B | ||
| Q2 24 | $48.9B | $54.6B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.50× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.53× | ||
| Q4 24 | — | 0.51× | ||
| Q3 24 | — | 0.55× | ||
| Q2 24 | — | 0.54× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.4B | $693.0M |
| Free Cash FlowOCF − Capex | $1.3B | $-312.0M |
| FCF MarginFCF / Revenue | 39.8% | -5.9% |
| Capex IntensityCapex / Revenue | 3.5% | 19.1% |
| Cash ConversionOCF / Net Profit | 1.65× | 1.23× |
| TTM Free Cash FlowTrailing 4 quarters | $4.6B | $1.1B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.4B | — | ||
| Q4 25 | $1.7B | $693.0M | ||
| Q3 25 | $1.2B | $1.7B | ||
| Q2 25 | $819.5M | $2.2B | ||
| Q1 25 | $1.1B | $1.1B | ||
| Q4 24 | $1.1B | $1.4B | ||
| Q3 24 | $855.0M | $1.9B | ||
| Q2 24 | $807.9M | $2.0B |
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.5B | $-312.0M | ||
| Q3 25 | $1.1B | $608.0M | ||
| Q2 25 | $729.2M | $934.0M | ||
| Q1 25 | $977.8M | $-114.0M | ||
| Q4 24 | $885.4M | $197.0M | ||
| Q3 24 | $701.1M | $673.0M | ||
| Q2 24 | $619.7M | $840.0M |
| Q1 26 | 39.8% | — | ||
| Q4 25 | 48.3% | -5.9% | ||
| Q3 25 | 37.7% | 8.9% | ||
| Q2 25 | 27.6% | 12.4% | ||
| Q1 25 | 40.4% | -2.0% | ||
| Q4 24 | 36.2% | 3.4% | ||
| Q3 24 | 30.3% | 10.1% | ||
| Q2 24 | 28.7% | 13.1% |
| Q1 26 | 3.5% | — | ||
| Q4 25 | 7.0% | 19.1% | ||
| Q3 25 | 2.7% | 15.5% | ||
| Q2 25 | 3.4% | 16.8% | ||
| Q1 25 | 6.1% | 21.0% | ||
| Q4 24 | 6.8% | 21.1% | ||
| Q3 24 | 6.7% | 17.9% | ||
| Q2 24 | 8.7% | 17.4% |
| Q1 26 | 1.65× | — | ||
| Q4 25 | 2.16× | 1.23× | ||
| Q3 25 | 2.25× | 1.33× | ||
| Q2 25 | 1.44× | 1.42× | ||
| Q1 25 | 2.88× | 1.33× | ||
| Q4 24 | 2.20× | 1.99× | ||
| Q3 24 | 2.18× | 1.51× | ||
| Q2 24 | 2.67× | 1.53× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ADI
| Sales Channel Directly To Consumer | $1.4B | 44% |
| Automotive | $794.4M | 25% |
| Communications | $476.8M | 15% |
| Consumer | $399.8M | 13% |
| Other | $71.3M | 2% |
| Sales Channel Other | $40.8M | 1% |
FCX
| Morenci | $2.5B | 47% |
| Grasberg Segment | $964.0M | 18% |
| Copper In Concentrates | $934.0M | 18% |
| Molybdenum | $541.0M | 10% |
| Gold | $388.0M | 7% |
