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Side-by-side financial comparison of Analog Devices (ADI) and COMFORT SYSTEMS USA INC (FIX). Click either name above to swap in a different company.
Analog Devices is the larger business by last-quarter revenue ($3.2B vs $2.6B, roughly 1.2× COMFORT SYSTEMS USA INC). Analog Devices runs the higher net margin — 26.3% vs 12.5%, a 13.8% gap on every dollar of revenue. On growth, COMFORT SYSTEMS USA INC posted the faster year-over-year revenue change (41.7% vs 30.4%). Analog Devices produced more free cash flow last quarter ($1.3B vs $402.4M). Over the past eight quarters, COMFORT SYSTEMS USA INC's revenue compounded faster (31.2% CAGR vs 21.0%).
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.
Comfort Systems USA, Inc. is an American company that provides mechanical and electrical contracting services, primarily HVAC, plumbing, piping and controls, off-site construction, monitoring and fire protection, and installation and servicing of electrical systems.
ADI vs FIX — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.2B | $2.6B |
| Net Profit | $830.8M | $330.8M |
| Gross Margin | 64.7% | 25.5% |
| Operating Margin | 31.5% | 16.1% |
| Net Margin | 26.3% | 12.5% |
| Revenue YoY | 30.4% | 41.7% |
| Net Profit YoY | 112.3% | 126.8% |
| EPS (diluted) | $1.69 | $9.35 |
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 | $2.6B | ||
| Q3 25 | $2.9B | $2.5B | ||
| Q2 25 | $2.6B | $2.2B | ||
| Q1 25 | $2.4B | $1.8B | ||
| Q4 24 | $2.4B | $1.9B | ||
| Q3 24 | $2.3B | $1.8B | ||
| Q2 24 | $2.2B | $1.8B |
| Q1 26 | $830.8M | — | ||
| Q4 25 | $787.7M | $330.8M | ||
| Q3 25 | $518.5M | $291.6M | ||
| Q2 25 | $569.8M | $230.8M | ||
| Q1 25 | $391.3M | $169.3M | ||
| Q4 24 | $478.1M | $145.9M | ||
| Q3 24 | $392.2M | $146.2M | ||
| Q2 24 | $302.2M | $134.0M |
| Q1 26 | 64.7% | — | ||
| Q4 25 | 63.1% | 25.5% | ||
| Q3 25 | 62.1% | 24.8% | ||
| Q2 25 | 61.0% | 23.5% | ||
| Q1 25 | 59.0% | 22.0% | ||
| Q4 24 | 58.0% | 23.2% | ||
| Q3 24 | 56.7% | 21.1% | ||
| Q2 24 | 54.7% | 20.1% |
| Q1 26 | 31.5% | — | ||
| Q4 25 | 30.7% | 16.1% | ||
| Q3 25 | 28.4% | 15.5% | ||
| Q2 25 | 25.7% | 13.8% | ||
| Q1 25 | 20.3% | 11.4% | ||
| Q4 24 | 23.3% | 12.1% | ||
| Q3 24 | 21.2% | 11.2% | ||
| Q2 24 | 17.9% | 10.2% |
| Q1 26 | 26.3% | — | ||
| Q4 25 | 25.6% | 12.5% | ||
| Q3 25 | 18.0% | 11.9% | ||
| Q2 25 | 21.6% | 10.6% | ||
| Q1 25 | 16.1% | 9.2% | ||
| Q4 24 | 19.6% | 7.8% | ||
| Q3 24 | 17.0% | 8.1% | ||
| Q2 24 | 14.0% | 7.4% |
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.60 | $9.35 | ||
| Q3 25 | $1.04 | $8.25 | ||
| Q2 25 | $1.14 | $6.53 | ||
| Q1 25 | $0.78 | $4.75 | ||
| Q4 24 | $0.95 | $4.08 | ||
| Q3 24 | $0.79 | $4.09 | ||
| Q2 24 | $0.61 | $3.74 |
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 | $981.9M |
| Total DebtLower is stronger | — | $145.2M |
| Stockholders' EquityBook value | $33.8B | $2.4B |
| Total Assets | $48.0B | $6.4B |
| Debt / EquityLower = less leverage | — | 0.06× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $2.9B | — | ||
| Q4 25 | $3.7B | $981.9M | ||
| Q3 25 | $2.3B | $860.5M | ||
| Q2 25 | $2.4B | $331.7M | ||
| Q1 25 | $2.3B | $204.8M | ||
| Q4 24 | $2.4B | $549.9M | ||
| Q3 24 | $2.1B | $415.6M | ||
| Q2 24 | $2.4B | $199.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | $145.2M | ||
| Q3 25 | — | $136.0M | ||
| Q2 25 | — | $73.0M | ||
| Q1 25 | — | $67.8M | ||
| Q4 24 | — | $68.3M | ||
| Q3 24 | — | $62.3M | ||
| Q2 24 | — | $73.4M |
| Q1 26 | $33.8B | — | ||
| Q4 25 | $33.8B | $2.4B | ||
| Q3 25 | $34.1B | $2.2B | ||
| Q2 25 | $35.0B | $2.0B | ||
| Q1 25 | $35.1B | $1.8B | ||
| Q4 24 | $35.2B | $1.7B | ||
| Q3 24 | $35.2B | $1.6B | ||
| Q2 24 | $35.2B | $1.5B |
| Q1 26 | $48.0B | — | ||
| Q4 25 | $48.0B | $6.4B | ||
| Q3 25 | $48.2B | $5.8B | ||
| Q2 25 | $47.3B | $5.1B | ||
| Q1 25 | $48.0B | $4.6B | ||
| Q4 24 | $48.2B | $4.7B | ||
| Q3 24 | $48.6B | $4.4B | ||
| Q2 24 | $48.9B | $4.2B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.06× | ||
| Q3 25 | — | 0.06× | ||
| Q2 25 | — | 0.04× | ||
| Q1 25 | — | 0.04× | ||
| Q4 24 | — | 0.04× | ||
| Q3 24 | — | 0.04× | ||
| Q2 24 | — | 0.05× |
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 | $468.5M |
| Free Cash FlowOCF − Capex | $1.3B | $402.4M |
| FCF MarginFCF / Revenue | 39.8% | 15.2% |
| Capex IntensityCapex / Revenue | 3.5% | 2.5% |
| Cash ConversionOCF / Net Profit | 1.65× | 1.42× |
| TTM Free Cash FlowTrailing 4 quarters | $4.6B | $1.0B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.4B | — | ||
| Q4 25 | $1.7B | $468.5M | ||
| Q3 25 | $1.2B | $553.3M | ||
| Q2 25 | $819.5M | $252.5M | ||
| Q1 25 | $1.1B | $-88.0M | ||
| Q4 24 | $1.1B | $210.5M | ||
| Q3 24 | $855.0M | $302.2M | ||
| Q2 24 | $807.9M | $189.9M |
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.5B | $402.4M | ||
| Q3 25 | $1.1B | $517.9M | ||
| Q2 25 | $729.2M | $221.2M | ||
| Q1 25 | $977.8M | $-110.2M | ||
| Q4 24 | $885.4M | $169.8M | ||
| Q3 24 | $701.1M | $280.1M | ||
| Q2 24 | $619.7M | $166.5M |
| Q1 26 | 39.8% | — | ||
| Q4 25 | 48.3% | 15.2% | ||
| Q3 25 | 37.7% | 21.1% | ||
| Q2 25 | 27.6% | 10.2% | ||
| Q1 25 | 40.4% | -6.0% | ||
| Q4 24 | 36.2% | 9.1% | ||
| Q3 24 | 30.3% | 15.5% | ||
| Q2 24 | 28.7% | 9.2% |
| Q1 26 | 3.5% | — | ||
| Q4 25 | 7.0% | 2.5% | ||
| Q3 25 | 2.7% | 1.4% | ||
| Q2 25 | 3.4% | 1.4% | ||
| Q1 25 | 6.1% | 1.2% | ||
| Q4 24 | 6.8% | 2.2% | ||
| Q3 24 | 6.7% | 1.2% | ||
| Q2 24 | 8.7% | 1.3% |
| Q1 26 | 1.65× | — | ||
| Q4 25 | 2.16× | 1.42× | ||
| Q3 25 | 2.25× | 1.90× | ||
| Q2 25 | 1.44× | 1.09× | ||
| Q1 25 | 2.88× | -0.52× | ||
| Q4 24 | 2.20× | 1.44× | ||
| Q3 24 | 2.18× | 2.07× | ||
| Q2 24 | 2.67× | 1.42× |
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% |
FIX
| Electrical Segment | $823.7M | 31% |
| Manufacturing Customer | $542.7M | 21% |
| Existing Building Construction | $491.4M | 19% |
| Healthcare Sector Customer | $220.8M | 8% |
| Service Projects | $153.0M | 6% |
| Education | $137.5M | 5% |
| Government Customer | $131.0M | 5% |
| Office Building Customer | $88.2M | 3% |
| Other Customer | $40.7M | 2% |
| Multi Family And Residential | $33.7M | 1% |
