Solving the holography equation has long been a numerical task. While effective, the numeric approach has its own set of limitations. Relying solely on numerical approaches often obscures the intricate interplay and influence of the individual terms within the equation. This not only hampers a deeper understanding of the underlying physics but also makes it challenging to predict or control specific outcomes. In this study, we address these challenges by leveraging our recently published updated Fraunhofer diffraction expression. This approach allows us to derive an analytic solution for complex-valued phase disks in in-line holography. This solution facilitates the direct computation of each term’s influence within the holographic equation, paving the way for a more profound comprehension and application of the holographic process. When compared to experimental results and the numeric Fresnel diffraction solution, our analytic approach shows impressive accuracy, considering the inherent approximations. Notably, it remains precise for Fresnel numbers that extend well beyond the traditionally accepted boundaries of the Fraunhofer regime.