This essay holds that there is room in Duns Scotus’s thought not only for things related to one another by a relation of dependence but also for analogous concepts, namely concepts that capture those real relations in the way they represent things in the world. Duns Scotus’s statements on the analogy of being, however, are fragmentary. They were reworked into a coherent theory by three Franciscans in Barcelona during the 1320s, namely, Aufredo Gonteri, Peter of Navarre, and Peter Thomae, who proposed three different ways to balance the analogy of being with the rival thesis of univocity and offered an early example of how Duns Scotus’s thought could be developed in different directions.