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Analog Devices (ADI) Financials

Analog Devices logo
$222.40 +0.69 (+0.31%)
Closing price 04:00 PM Eastern
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$222.60 +0.20 (+0.09%)
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Annual Income Statements for Analog Devices

Annual Income Statements for Analog Devices

This table shows Analog Devices' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 10/31/2015 10/29/2016 10/28/2017 11/3/2018 11/2/2019 10/31/2020 10/30/2021 10/29/2022 10/28/2023 11/2/2024
Net Income / (Loss) Attributable to Common Shareholders		 697 862 805 1,507 1,363 1,221 1,390 2,749 3,315 1,635
Consolidated Net Income / (Loss)		 697 862 805 1,507 1,363 1,221 1,390 2,749 3,315 1,635
Net Income / (Loss) Continuing Operations		 697 862 805 1,507 1,363 1,221 1,390 2,749 3,315 1,635
Total Pre-Tax Income 		810 957 935 1,655 1,486 1,312 1,329 3,099 3,608 1,777
Total Operating Income		 831 1,028 1,163 1,900 1,711 1,498 1,692 3,279 3,823 2,033
Total Gross Profit		 2,259 2,227 3,168 4,250 4,014 3,690 4,525 7,532 7,877 5,381
Total Revenue		 3,435 3,421 5,246 6,225 5,991 5,603 7,318 12,014 12,306 9,427
Operating Revenue		 3,435 3,421 5,246 6,225 5,991 5,603 7,318 12,014 12,306 9,427
Total Cost of Revenue		 1,176 1,194 2,078 1,974 1,977 1,913 2,793 4,481 4,428 4,046
Operating Cost of Revenue		 1,176 1,194 2,078 1,974 1,977 1,913 2,793 4,481 4,428 4,046
Total Operating Expenses		 1,428 1,199 2,005 2,351 2,303 2,192 2,833 4,254 4,054 3,349
Selling, General & Admin Expense		 703 461 691 696 648 660 915 1,266 1,274 1,069
Research & Development Expense		 637 654 968 1,165 1,130 1,051 1,296 1,701 1,660 1,488
Amortization Expense		 88 70 297 429 429 429 537 1,013 960 755
Restructuring Charge		 0.00 14 49 61 96 52 84 275 161 37
Total Other Income / (Expense), net		 -21 -71 -228 -244 -225 -187 -363 -180 -215 -255
Interest Expense		 27 89 251 254 229 193 400 200 265 322
Interest & Investment Income		 8.63 21 30 9.38 10 4.31 1.22 6.91 41 79
Other Income / (Expense), net		 -2.32 -3.66 -7.51 -0.07 -6.03 2.37 35 14 8.25 -12
Income Tax Expense		 113 95 129 148 123 91 -62 350 293 142
Basic Earnings per Share		 $2.23 $2.79 - - - $3.31 $3.50 $5.29 $6.60 $3.30
Weighted Average Basic Shares Outstanding		 312.66M 308.74M 346.37M 370.43M 369.13M 368.63M 397.46M 519.23M 502.23M 496.17M
Diluted Earnings per Share		 $2.20 $2.76 - $4.00 - $3.28 $3.46 $5.25 $6.55 $3.28
Weighted Average Diluted Shares Outstanding		 316.87M 312.31M 350.48M 374.94M 372.87M 371.97M 401.29M 523.18M 505.96M 498.70M
Weighted Average Basic & Diluted Shares Outstanding		 312.06M 308.17M 368.64M 370.16M 368.30M 369.48M 525.33M 509.30M 496.26M 496.30M
Cash Dividends to Common per Share		 $1.57 $1.66 $1.77 $1.89 $2.10 $2.40 $2.69 $2.97 $3.34 $3.62

Quarterly Income Statements for Analog Devices

This table shows Analog Devices' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 7/30/2022 10/29/2022 1/28/2023 4/29/2023 7/29/2023 10/28/2023 2/3/2024 5/4/2024 8/3/2024 11/2/2024 2/1/2025
Net Income / (Loss) Attributable to Common Shareholders		 749 936 961 978 877 498 463 302 392 478 391
Consolidated Net Income / (Loss)		 749 936 961 978 877 498 463 302 392 478 391
Net Income / (Loss) Continuing Operations		 749 936 961 978 877 498 463 302 392 478 391
Total Pre-Tax Income 		848 1,048 1,073 1,088 875 572 513 325 423 516 436
Total Operating Income		 893 1,102 1,131 1,128 929 634 586 386 491 569 491
Total Gross Profit		 2,043 2,143 2,124 2,145 1,962 1,647 1,474 1,180 1,311 1,416 1,430
Total Revenue		 3,110 3,248 3,250 3,263 3,076 2,716 2,513 2,159 2,312 2,443 2,423
Operating Revenue		 3,110 3,248 3,250 3,263 3,076 2,716 2,513 2,159 2,312 2,443 2,423
Total Cost of Revenue		 1,067 1,105 1,125 1,118 1,115 1,070 1,039 979 1,001 1,027 993
Operating Cost of Revenue		 1,067 1,105 1,125 1,118 1,115 1,070 1,039 979 1,001 1,027 993
Total Operating Expenses		 1,150 1,040 994 1,016 1,032 1,012 888 794 820 847 939
Selling, General & Admin Expense		 327 337 326 324 334 289 290 244 257 277 285
Research & Development Expense		 432 421 414 416 424 407 391 355 363 379 403
Amortization Expense		 253 253 253 253 251 203 190 189 188 188 187
Restructuring Charge		 138 30 0.00 23 24 114 16 5.98 12 2.86 64
Total Other Income / (Expense), net		 -45 -54 -57 -40 -55 -63 -73 -62 -68 -53 -56
Interest Expense		 51 48 60 63 69 72 77 77 85 83 75
Interest & Investment Income		 1.80 4.33 11 13 8.79 9.09 9.17 15 26 28 23
Other Income / (Expense), net		 4.02 -11 -7.72 10 5.88 -0.13 -4.57 0.31 -9.58 1.79 -3.96
Income Tax Expense		 99 112 112 110 -2.20 73 51 22 31 38 44
Basic Earnings per Share		 $1.45 $1.81 $1.90 $1.94 $1.75 $1.01 $0.93 $0.61 $0.79 $0.97 $0.79
Weighted Average Basic Shares Outstanding		 517.01M 519.23M 507.12M 504.72M 500.02M 502.23M 495.77M 496.13M 496.34M 496.17M 496.12M
Diluted Earnings per Share		 $1.44 $1.79 $1.88 $1.92 $1.74 $1.01 $0.93 $0.61 $0.79 $0.95 $0.78
Weighted Average Diluted Shares Outstanding		 520.55M 523.18M 511.18M 508.73M 503.50M 505.96M 498.74M 498.53M 498.79M 498.70M 498.67M
Weighted Average Basic & Diluted Shares Outstanding		 514.34M 509.30M 505.85M 501.42M 498.31M 496.26M 495.91M 496.22M 496.49M 496.30M 495.98M
Cash Dividends to Common per Share		 $0.76 - $0.76 $0.86 $0.86 - $0.86 $0.92 $0.92 - $0.92

Annual Cash Flow Statements for Analog Devices

This table details how cash moves in and out of Analog Devices' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 10/31/2015 10/29/2016 10/28/2017 11/3/2018 11/2/2019 10/31/2020 10/30/2021 10/29/2022 10/28/2023 11/2/2024
Net Change in Cash & Equivalents		 315 37 127 -231 -167 408 922 -507 -513 1,033
Net Cash From Operating Activities		 908 1,291 1,154 2,442 2,253 2,008 2,735 4,475 4,818 3,853
Net Cash From Continuing Operating Activities		 908 1,291 1,154 2,442 2,253 2,008 2,735 4,475 4,818 3,853
Net Income / (Loss) Continuing Operations		 697 862 805 1,507 1,363 1,221 1,390 2,749 3,315 1,635
Consolidated Net Income / (Loss)		 697 862 805 1,507 1,363 1,221 1,390 2,749 3,315 1,635
Depreciation Expense		 130 135 195 229 241 234 231 283 335 363
Amortization Expense		 92 75 389 571 571 577 843 2,014 1,958 1,742
Non-Cash Adjustments To Reconcile Net Income		 51 91 452 188 205 -63 785 640 308 286
Changes in Operating Assets and Liabilities, net		 -62 129 -687 -51 -127 39 -515 -1,210 -1,099 -173
Net Cash From Investing Activities		 -17 -1,218 -6,618 -314 -293 -181 2,144 -657 -1,266 -1,105
Net Cash From Continuing Investing Activities		 -17 -1,218 -6,618 -314 -293 -181 2,144 -657 -1,266 -1,105
Purchase of Property, Plant & Equipment		 -154 -127 -204 -255 -275 -166 -344 -699 -1,261 -730
Purchase of Investments		 -6,084 -7,697 -705 - - - - 0.00 0.00 -439
Sale and/or Maturity of Investments		 6,236 6,708 3,940 - - - - 0.00 0.00 69
Other Investing Activities, net		 -8.28 -19 -16 -6.28 -6.64 -15 37 42 -4.92 -4.77
Net Cash From Financing Activities		 -572 -33 5,587 -2,358 -2,127 -1,421 -3,960 -4,291 -4,064 -1,714
Net Cash From Continuing Financing Activities		 -572 -33 5,587 -2,358 -2,127 -1,421 -3,960 -4,291 -4,064 -1,714
Repayment of Debt		 0.50 -412 -5,058 -2,275 -2,178 -1,104 -3,995 -899 -4,826 -10,697
Repurchase of Common Equity		 -227 -370 -47 -226 -613 -244 -2,605 -2,577 -2,964 -616
Payment of Dividends		 -491 -513 -602 -703 -777 -886 -1,109 -1,545 -1,679 -1,795
Issuance of Debt		 0.00 1,235 11,156 747 1,325 746 4,340 696 5,287 11,272
Issuance of Common Equity		 123 61 133 99 117 68 63 34 119 121
Effect of Exchange Rate Changes		 -3.95 -2.93 3.55 -1.57 - 0.18 - -35 0.00 0.00

Quarterly Cash Flow Statements for Analog Devices

This table details how cash moves in and out of Analog Devices' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 7/30/2022 10/29/2022 1/28/2023 4/29/2023 7/29/2023 10/28/2023 2/3/2024 5/4/2024 8/3/2024 11/2/2024 2/1/2025
Net Change in Cash & Equivalents		 -213 -54 200 -493 -28 -191 345 636 166 -115 359
Net Cash From Operating Activities		 1,248 1,149 1,406 1,082 1,142 1,187 1,139 808 855 1,051 1,127
Net Cash From Continuing Operating Activities		 1,248 1,149 1,406 1,082 1,142 1,187 1,139 808 855 1,051 1,127
Net Income / (Loss) Continuing Operations		 749 936 961 978 877 498 463 302 392 478 391
Consolidated Net Income / (Loss)		 749 936 961 978 877 498 463 302 392 478 391
Depreciation Expense		 76 71 85 80 86 83 84 89 92 97 98
Amortization Expense		 503 502 502 502 501 453 441 439 438 423 417
Non-Cash Adjustments To Reconcile Net Income		 185 63 85 62 99 62 74 67 75 70 77
Changes in Operating Assets and Liabilities, net		 -265 -422 -227 -540 -422 91 76 -90 -142 -17 143
Net Cash From Investing Activities		 -134 -306 -176 -285 -327 -479 -219 -602 -172 -112 -194
Net Cash From Continuing Investing Activities		 -134 -306 -176 -285 -327 -479 -219 -602 -172 -112 -194
Purchase of Property, Plant & Equipment		 -165 -305 -176 -284 -325 -476 -223 -188 -154 -165 -149
Acquisitions		 - - - - - - 0.00 - - - -46
Other Investing Activities, net		 31 -1.82 0.10 -0.18 -2.17 -2.67 3.88 10 -3.40 -15 0.33
Net Cash From Financing Activities		 -1,318 -887 -1,030 -1,290 -844 -899 -574 430 -517 -1,054 -574
Net Cash From Continuing Financing Activities		 -1,318 -887 -1,030 -1,290 -844 -899 -574 430 -517 -1,054 -574
Repayment of Debt		 -428 22 -32 19 -2,166 -2,648 -2,797 -2,597 -2,320 -2,982 -1,968
Repurchase of Common Equity		 -906 -818 -655 -1,153 -687 -470 -180 -222 -118 -95 -160
Payment of Dividends		 -394 -390 -385 -435 -430 -428 -426 -456 -456 -457 -456
Issuance of Debt		 400 296 0.00 254 2,393 2,641 2,779 3,692 2,326 2,475 1,969
Issuance of Common Equity		 9.96 3.87 41 26 46 5.61 50 15 52 4.86 42

Annual Balance Sheets for Analog Devices

This table presents Analog Devices' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 10/31/2015 10/29/2016 10/28/2017 11/3/2018 11/2/2019 10/31/2020 10/30/2021 10/29/2022 10/28/2023 11/2/2024
Total Assets		 7,059 7,970 21,141 20,438 21,393 21,469 52,322 50,302 48,794 48,228
Total Current Assets		 4,080 4,975 2,351 2,112 1,985 2,518 5,378 4,938 4,384 5,485
Cash & Equivalents		 884 921 1,048 817 648 1,056 1,978 1,471 958 1,991
Short-Term Investments		 2,145 3,135 - - - - - - 0.00 372
Accounts Receivable		 467 478 689 640 635 738 1,459 1,800 1,470 1,336
Inventories, net		 412 377 551 587 610 608 1,201 1,400 1,642 1,448
Prepaid Expenses		 41 59 60 69 92 116 741 267 314 337
Plant, Property, & Equipment, net		 644 636 1,107 1,154 1,220 1,121 1,979 2,401 3,219 3,416
Total Noncurrent Assets		 2,335 2,359 17,683 17,172 18,188 17,518 44,965 42,963 41,191 39,328
Goodwill		 1,637 1,679 12,217 12,253 12,257 12,278 26,918 26,913 26,913 26,910
Intangible Assets		 584 549 5,319 4,778 4,217 3,650 15,267 13,265 11,312 9,585
Noncurrent Deferred & Refundable Income Taxes		 33 36 32 9.67 1,582 1,503 2,267 2,265 2,223 2,084
Other Noncurrent Operating Assets		 41 47 56 63 54 - 384 520 743 749
Total Liabilities & Shareholders' Equity		 7,059 7,970 21,141 20,438 21,393 21,469 52,322 50,302 48,794 48,228
Total Liabilities		 1,986 2,805 10,980 9,170 9,683 9,471 14,330 13,837 13,229 13,052
Total Current Liabilities		 1,114 783 1,596 1,052 1,509 1,365 2,770 2,443 3,201 2,988
Short-Term Debt		 375 0.00 300 67 300 - 517 0.00 1,046 947
Accounts Payable		 174 171 237 261 225 227 443 582 493 487
Accrued Expenses		 250 256 499 630 796 956 1,478 1,595 1,353 1,106
Current Deferred & Payable Income Tax Liabilities		 15 4.10 87 94 188 182 333 266 309 447
Total Noncurrent Liabilities		 872 2,022 9,383 8,118 8,175 8,106 11,559 11,394 10,028 10,064
Long-Term Debt		 495 1,732 7,551 6,266 5,192 5,145 6,253 6,549 5,902 6,634
Noncurrent Deferred Revenue		 - - - - - - 811 708 417 260
Noncurrent Deferred & Payable Income Tax Liabilities		 227 110 1,724 1,701 2,743 2,511 3,939 3,623 3,128 2,624
Other Noncurrent Operating Liabilities		 126 153 76 112 240 449 556 515 581 544
Total Equity & Noncontrolling Interests		 5,073 5,166 10,162 11,268 11,709 11,998 37,993 36,465 35,565 35,176
Total Preferred & Common Equity		 5,073 5,166 10,162 11,268 11,709 11,998 37,993 36,465 35,565 35,176
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 5,070 5,166 10,162 11,268 11,709 11,998 37,993 36,465 35,565 35,176
Common Stock		 686 454 5,312 5,344 4,998 5,011 30,662 27,942 25,397 25,165
Retained Earnings		 4,437 4,786 4,911 5,983 6,899 7,236 7,517 8,721 10,357 10,197
Accumulated Other Comprehensive Income / (Loss)		 -51 -74 -61 -58 -188 -249 -187 -198 -188 -185

Quarterly Balance Sheets for Analog Devices

This table presents Analog Devices' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 7/30/2022 10/29/2022 1/28/2023 4/29/2023 7/29/2023 10/28/2023 2/3/2024 5/4/2024 8/3/2024 11/2/2024 2/1/2025
Total Assets		 50,346 50,302 50,235 49,545 49,347 48,794 48,388 48,862 48,618 48,228 47,968
Total Current Assets		 4,690 4,938 5,162 4,745 4,835 4,384 4,416 5,194 5,443 5,485 5,733
Cash & Equivalents		 1,525 1,471 1,670 1,178 1,149 958 1,304 1,940 2,106 1,991 2,350
Short-Term Investments		 - - - - - 0.00 - 424 440 372 371
Accounts Receivable		 1,743 1,800 1,630 1,616 1,616 1,470 1,197 1,005 1,127 1,336 1,192
Inventories, net		 1,203 1,400 1,523 1,648 1,709 1,642 1,553 1,479 1,428 1,448 1,475
Prepaid Expenses		 219 267 338 303 360 314 362 346 342 337 345
Plant, Property, & Equipment, net		 2,180 2,401 2,525 2,742 2,923 3,219 3,282 3,415 3,396 3,416 3,355
Total Noncurrent Assets		 43,476 42,963 42,548 42,058 41,589 41,191 40,691 40,253 39,780 39,328 38,879
Goodwill		 26,920 26,913 26,913 26,913 26,913 26,913 26,913 26,910 26,910 26,910 26,945
Intangible Assets		 13,764 13,265 12,763 12,262 11,763 11,312 10,871 10,435 9,998 9,585 9,183
Noncurrent Deferred & Refundable Income Taxes		 2,297 2,265 2,267 2,249 2,225 2,223 2,172 2,146 2,105 2,084 2,033
Other Noncurrent Operating Assets		 495 520 605 634 688 743 734 762 767 749 718
Total Liabilities & Shareholders' Equity		 50,346 50,302 50,235 49,545 49,347 48,794 48,388 48,862 48,618 48,228 47,968
Total Liabilities		 13,708 13,837 13,703 13,532 13,443 13,229 12,840 13,613 13,428 13,052 12,897
Total Current Liabilities		 2,441 2,443 2,434 2,646 2,831 3,201 2,923 3,297 3,227 2,988 2,971
Short-Term Debt		 0.00 0.00 - 254 545 1,046 1,044 1,447 1,447 947 948
Accounts Payable		 545 582 535 569 586 493 398 423 425 487 369
Accrued Expenses		 1,450 1,595 1,385 1,515 1,277 1,353 1,071 1,067 957 1,106 1,166
Current Deferred & Payable Income Tax Liabilities		 446 266 514 309 423 309 410 361 398 447 487
Total Noncurrent Liabilities		 11,266 11,394 11,269 10,885 10,612 10,028 9,917 10,316 10,202 10,064 9,926
Long-Term Debt		 6,253 6,549 6,543 6,476 6,438 5,902 5,947 6,612 6,656 6,634 6,619
Noncurrent Deferred Revenue		 713 708 712 524 441 417 416 267 266 260 262
Noncurrent Deferred & Payable Income Tax Liabilities		 3,764 3,623 3,477 3,325 3,151 3,128 2,976 2,888 2,743 2,624 2,515
Other Noncurrent Operating Liabilities		 536 515 537 560 582 581 579 549 537 544 531
Total Equity & Noncontrolling Interests		 36,639 36,465 36,531 36,013 35,904 35,565 35,548 35,249 35,190 35,176 35,071
Total Preferred & Common Equity		 36,639 36,465 36,531 36,013 35,904 35,565 35,548 35,249 35,190 35,176 35,071
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 36,639 36,465 36,531 36,013 35,904 35,565 35,548 35,249 35,190 35,176 35,071
Common Stock		 28,676 27,942 27,404 26,346 25,788 25,397 25,336 25,186 25,185 25,165 25,124
Retained Earnings		 8,175 8,721 9,297 9,840 10,286 10,357 10,393 10,240 10,175 10,197 10,132
Accumulated Other Comprehensive Income / (Loss)		 -213 -198 -170 -172 -171 -188 -181 -177 -170 -185 -185

Annual Metrics And Ratios for Analog Devices

This table displays calculated financial ratios and metrics derived from Analog Devices' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 10/31/2015 10/29/2016 10/28/2017 11/3/2018 11/2/2019 10/31/2020 10/30/2021 10/29/2022 10/28/2023 11/2/2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 19.91% -0.40% 53.34% 18.65% -3.75% -6.48% 30.61% 64.16% 2.43% -23.39%
EBITDA Growth		 17.54% 17.46% 40.92% 55.15% -6.77% -8.12% 21.22% 99.48% 9.57% -32.65%
EBIT Growth		 10.18% 23.65% 12.77% 64.42% -10.26% -11.97% 15.12% 90.58% 16.38% -47.26%
NOPAT Growth		 10.08% 29.53% 8.22% 72.62% -9.25% -11.14% 26.99% 64.23% 20.77% -46.75%
Net Income Growth		 10.74% 23.65% -6.53% 87.11% -9.55% -10.44% 13.90% 97.68% 20.59% -50.66%
EPS Growth		 0.00% 25.45% 0.00% 0.00% 0.00% 0.00% 5.49% 51.73% 24.76% -49.92%
Operating Cash Flow Growth		 4.15% 42.25% -10.61% 111.58% -7.75% -10.86% 36.18% 63.63% 7.65% -20.03%
Free Cash Flow Firm Growth		 148.37% 76.12% -1,408.94% 114.59% -3.37% 17.95% -1,255.14% 115.96% -12.97% -13.39%
Invested Capital Growth		 5.30% -2.64% 500.69% -1.09% -1.67% -4.78% 171.90% -2.61% 0.03% -2.79%
Revenue Q/Q Growth		 5.03% 0.73% 14.80% -2.26% -1.53% 1.51% 12.50% 8.18% -4.14% -2.82%
EBITDA Q/Q Growth		 -4.52% 25.23% 23.42% -2.60% -4.74% 5.76% -2.62% 23.72% -7.46% -1.87%
EBIT Q/Q Growth		 -5.00% 31.60% 20.18% -4.21% -7.04% 9.39% -16.94% 42.27% -10.66% -3.03%
NOPAT Q/Q Growth		 -2.47% 32.42% 18.47% -1.34% -7.94% 7.82% -3.65% 28.26% -10.91% -1.30%
Net Income Q/Q Growth		 -1.75% 30.20% 19.18% -1.37% -8.53% 9.79% -18.27% 45.58% -11.67% -1.23%
EPS Q/Q Growth		 746.15% 30.81% 0.00% 0.00% 0.00% 0.00% -24.29% 54.87% -10.64% -1.80%
Operating Cash Flow Q/Q Growth		 -6.61% 30.19% 15.51% 2.60% -2.45% 0.74% 10.87% 4.89% 0.79% -3.42%
Free Cash Flow Firm Q/Q Growth		 -32.39% 57.21% 2.51% -17.76% 25.04% 12.92% -1,241.21% 117.28% -2.03% 5.07%
Invested Capital Q/Q Growth		 2.63% -2.21% -1.42% 0.87% -2.14% -3.14% 169.51% 0.43% -0.43% -0.86%
Profitability Metrics		 - - - - - - - - - -
Gross Margin		 65.77% 65.10% 60.39% 68.28% 67.00% 65.87% 61.83% 62.70% 64.01% 57.08%
EBITDA Margin		 30.59% 36.07% 33.15% 43.35% 41.99% 41.26% 38.29% 46.53% 49.77% 43.76%
Operating Margin		 24.19% 30.05% 22.16% 30.52% 28.55% 26.74% 23.12% 27.29% 31.07% 21.56%
EBIT Margin		 24.12% 29.94% 22.02% 30.52% 28.45% 26.78% 23.60% 27.40% 31.14% 21.44%
Profit (Net Income) Margin		 20.29% 25.18% 15.35% 24.21% 22.75% 21.79% 19.00% 22.88% 26.94% 17.35%
Tax Burden Percent		 86.02% 90.05% 86.16% 91.04% 91.74% 93.07% 104.64% 88.70% 91.87% 92.01%
Interest Burden Percent		 97.78% 93.41% 80.91% 87.14% 87.16% 87.41% 76.92% 94.12% 94.17% 87.95%
Effective Tax Rate		 13.98% 9.95% 13.84% 8.96% 8.26% 6.93% -4.64% 11.30% 8.13% 7.99%
Return on Invested Capital (ROIC)		 25.31% 32.39% 10.14% 10.26% 9.44% 8.67% 6.07% 6.91% 8.45% 4.56%
ROIC Less NNEP Spread (ROIC-NNEP)		 26.16% 35.22% 1.28% 6.64% 5.42% 4.56% -3.04% 3.63% 4.88% 0.37%
Return on Net Nonoperating Assets (RNNOA)		 -11.13% -15.56% 0.37% 3.80% 2.42% 1.63% -0.51% 0.48% 0.75% 0.06%
Return on Equity (ROE)		 14.18% 16.83% 10.51% 14.06% 11.86% 10.30% 5.56% 7.38% 9.20% 4.62%
Cash Return on Invested Capital (CROIC)		 20.15% 35.06% -132.77% 11.36% 11.13% 13.56% -86.37% 9.55% 8.42% 7.40%
Operating Return on Assets (OROA)		 11.91% 13.63% 7.94% 9.14% 8.15% 7.00% 4.68% 6.42% 7.73% 4.17%
Return on Assets (ROA)		 10.01% 11.47% 5.53% 7.25% 6.52% 5.70% 3.77% 5.36% 6.69% 3.37%
Return on Common Equity (ROCE)		 14.17% 16.83% 10.51% 14.06% 11.86% 10.30% 5.56% 7.38% 9.20% 4.62%
Return on Equity Simple (ROE_SIMPLE)		 13.74% 16.68% 7.93% 13.37% 11.64% 10.17% 3.66% 7.54% 9.32% 4.65%
Net Operating Profit after Tax (NOPAT)		 715 926 1,002 1,729 1,569 1,394 1,771 2,908 3,512 1,870
NOPAT Margin		 20.81% 27.06% 19.10% 27.78% 26.19% 24.89% 24.20% 24.21% 28.54% 19.84%
Net Nonoperating Expense Percent (NNEP)		 -0.85% -2.84% 8.86% 3.63% 4.02% 4.11% 9.11% 3.28% 3.57% 4.19%
Cost of Revenue to Revenue		 34.23% 34.90% 39.61% 31.72% 33.00% 34.13% 38.17% 37.30% 35.99% 42.92%
SG&A Expenses to Revenue		 20.45% 13.49% 13.16% 11.17% 10.82% 11.78% 12.51% 10.54% 10.35% 11.34%
R&D to Revenue		 18.56% 19.11% 18.45% 18.72% 18.87% 18.75% 17.71% 14.15% 13.49% 15.78%
Operating Expenses to Revenue		 41.58% 35.05% 38.23% 37.77% 38.44% 39.13% 38.71% 35.41% 32.95% 35.52%
Earnings before Interest and Taxes (EBIT)		 829 1,024 1,155 1,900 1,705 1,501 1,727 3,292 3,831 2,021
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1,051 1,234 1,739 2,699 2,516 2,312 2,802 5,590 6,124 4,125
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 3.11 3.25 2.90 2.58 3.16 3.41 1.60 1.97 2.21 3.18
Price to Tangible Book Value (P/TBV)		 5.53 5.72 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 4.59 4.91 5.62 4.67 6.18 7.30 8.30 5.98 6.39 11.88
Price to Earnings (P/E)		 22.61 19.49 36.60 19.28 27.15 33.51 43.70 26.16 23.73 68.46
Dividend Yield		 3.86% 3.04% 2.21% 2.99% 2.10% 2.17% 1.63% 2.12% 2.12% 1.61%
Earnings Yield		 4.42% 5.13% 2.73% 5.19% 3.68% 2.98% 2.29% 3.82% 4.21% 1.46%
Enterprise Value to Invested Capital (EV/IC)		 4.69 5.12 2.14 2.06 2.54 2.86 1.53 1.85 2.04 2.90
Enterprise Value to Revenue (EV/Rev)		 3.95 4.22 6.91 5.55 6.97 8.02 8.94 6.41 6.88 12.43
Enterprise Value to EBITDA (EV/EBITDA)		 12.92 11.71 20.85 12.80 16.60 19.43 23.35 13.77 13.82 28.40
Enterprise Value to EBIT (EV/EBIT)		 16.39 14.10 31.38 18.19 24.50 29.93 37.87 23.38 22.09 57.98
Enterprise Value to NOPAT (EV/NOPAT)		 19.00 15.61 36.19 19.97 26.61 32.21 36.95 26.47 24.10 62.65
Enterprise Value to Operating Cash Flow (EV/OCF)		 14.96 11.19 31.41 14.14 18.54 22.36 23.92 17.20 17.57 30.41
Enterprise Value to Free Cash Flow (EV/FCFF)		 23.86 14.42 0.00 18.05 22.58 20.59 0.00 19.14 24.18 38.65
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.17 0.34 0.77 0.56 0.47 0.43 0.18 0.18 0.20 0.22
Long-Term Debt to Equity		 0.10 0.34 0.74 0.56 0.44 0.43 0.16 0.18 0.17 0.19
Financial Leverage		 -0.43 -0.44 0.29 0.57 0.45 0.36 0.17 0.13 0.15 0.16
Leverage Ratio		 1.42 1.47 1.90 1.94 1.82 1.81 1.48 1.38 1.38 1.37
Compound Leverage Factor		 1.38 1.37 1.54 1.69 1.59 1.58 1.14 1.30 1.30 1.21
Debt to Total Capital		 14.64% 25.11% 43.59% 35.98% 31.93% 30.01% 15.12% 15.22% 16.34% 17.73%
Short-Term Debt to Total Capital		 6.30% 0.00% 1.67% 0.38% 1.74% 0.00% 1.15% 0.00% 2.46% 2.22%
Long-Term Debt to Total Capital		 8.34% 25.11% 41.92% 35.60% 30.19% 30.01% 13.97% 15.22% 13.88% 15.52%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 85.31% 74.89% 56.41% 64.02% 68.07% 69.99% 84.88% 84.78% 83.66% 82.27%
Debt to EBITDA		 0.83 1.40 4.51 2.35 2.18 2.23 2.42 1.17 1.13 1.84
Net Debt to EBITDA		 -2.07 -1.90 3.90 2.03 1.89 1.73 1.66 0.91 0.98 1.27
Long-Term Debt to EBITDA		 0.47 1.40 4.34 2.32 2.06 2.23 2.23 1.17 0.96 1.61
Debt to NOPAT		 1.22 1.87 7.84 3.66 3.50 3.69 3.82 2.25 1.98 4.05
Net Debt to NOPAT		 -3.05 -2.53 6.77 3.17 3.04 2.87 2.63 1.75 1.71 2.79
Long-Term Debt to NOPAT		 0.69 1.87 7.54 3.62 3.31 3.69 3.53 2.25 1.68 3.55
Altman Z-Score		 7.02 5.92 2.41 2.98 3.31 3.62 3.05 3.87 4.40 5.84
Noncontrolling Interest Sharing Ratio		 0.06% 0.03% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Current Ratio		 3.66 6.35 1.47 2.01 1.32 1.84 1.94 2.02 1.37 1.84
Quick Ratio		 3.14 5.79 1.09 1.38 0.85 1.31 1.24 1.34 0.76 1.24
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 569 1,002 -13,118 1,914 1,849 2,181 -25,197 4,021 3,500 3,031
Operating Cash Flow to CapEx		 589.63% 1,013.64% 565.59% 958.25% 818.20% 1,212.18% 795.83% 639.98% 381.91% 527.41%
Free Cash Flow to Firm to Interest Expense		 21.05 11.29 -52.30 7.55 8.07 11.28 -63.00 20.07 13.22 9.41
Operating Cash Flow to Interest Expense		 33.58 14.55 4.60 9.63 9.84 10.39 6.84 22.33 18.20 11.96
Operating Cash Flow Less CapEx to Interest Expense		 27.89 13.11 3.79 8.63 8.63 9.53 5.98 18.84 13.44 9.69
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.49 0.46 0.36 0.30 0.29 0.26 0.20 0.23 0.25 0.19
Accounts Receivable Turnover		 7.96 7.25 8.99 9.37 9.40 8.16 6.66 7.37 7.53 6.72
Inventory Turnover		 3.01 3.03 4.48 3.47 3.30 3.14 3.09 3.45 2.91 2.62
Fixed Asset Turnover		 5.42 5.35 6.02 5.50 5.05 4.79 4.72 5.49 4.38 2.84
Accounts Payable Turnover		 7.51 6.91 10.19 7.94 8.13 8.45 8.33 8.74 8.24 8.25
Days Sales Outstanding (DSO)		 45.86 50.36 40.58 38.95 38.83 44.71 54.78 49.51 48.50 54.32
Days Inventory Outstanding (DIO)		 121.10 120.55 81.44 105.16 110.45 116.24 118.18 105.90 125.37 139.38
Days Payable Outstanding (DPO)		 48.61 52.83 35.84 45.99 44.87 43.18 43.82 41.77 44.31 44.23
Cash Conversion Cycle (CCC)		 118.34 118.09 86.19 98.12 104.41 117.76 129.14 113.65 129.56 149.47
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 2,896 2,820 16,940 16,756 16,475 15,689 42,657 41,543 41,556 40,395
Invested Capital Turnover		 1.22 1.20 0.53 0.37 0.36 0.35 0.25 0.29 0.30 0.23
Increase / (Decrease) in Invested Capital		 146 -76 14,120 -184 -280 -787 26,968 -1,113 12 -1,161
Enterprise Value (EV)		 13,580 14,448 36,256 34,544 41,766 44,914 65,423 76,968 84,633 117,168
Market Capitalization		 15,756 16,794 29,478 29,057 37,000 40,912 60,759 71,890 78,642 111,949
Book Value per Share		 $16.16 $16.80 $27.64 $30.32 $31.70 $32.50 $103.18 $70.90 $71.37 $70.85
Tangible Book Value per Share		 $9.09 $9.55 ($20.06) ($15.50) ($12.90) ($10.65) ($11.39) ($7.22) ($5.34) ($2.66)
Total Capital		 5,943 6,898 18,013 17,601 17,201 17,143 44,762 43,014 42,514 42,758
Total Debt		 870 1,732 7,851 6,333 5,492 5,145 6,770 6,549 6,949 7,582
Total Long-Term Debt		 495 1,732 7,551 6,266 5,192 5,145 6,253 6,549 5,902 6,634
Net Debt		 -2,176 -2,346 6,778 5,487 4,766 4,003 4,664 5,078 5,991 5,219
Capital Expenditures (CapEx)		 154 127 204 255 275 166 344 699 1,261 730
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 312 136 7.17 311 128 97 1,147 1,025 1,271 1,081
Debt-free Net Working Capital (DFNWC)		 3,341 4,192 1,055 1,127 776 1,153 3,125 2,495 2,229 3,444
Net Working Capital (NWC)		 2,966 4,192 755 1,060 476 1,153 2,608 2,495 1,183 2,496
Net Nonoperating Expense (NNE)		 18 64 196 222 206 174 380 160 198 235
Net Nonoperating Obligations (NNO)		 -2,176 -2,346 6,778 5,487 4,766 3,691 4,664 5,078 5,991 5,219
Total Depreciation and Amortization (D&A)		 222 210 584 799 811 811 1,075 2,297 2,293 2,104
Debt-free, Cash-free Net Working Capital to Revenue		 9.07% 3.98% 0.14% 4.99% 2.13% 1.73% 15.67% 8.53% 10.33% 11.46%
Debt-free Net Working Capital to Revenue		 97.25% 122.52% 20.11% 18.11% 12.96% 20.57% 42.70% 20.77% 18.12% 36.53%
Net Working Capital to Revenue		 86.34% 122.52% 14.39% 17.04% 7.95% 20.57% 35.64% 20.77% 9.61% 26.48%
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $5.29 $6.60 $3.30
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 0.00 0.00 369.13M 368.63M 397.46M 519.23M 502.23M 496.17M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $5.25 $6.55 $3.28
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 0.00 0.00 372.87M 371.97M 401.29M 523.18M 505.96M 498.70M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 0.00 0.00 368.30M 369.48M 525.33M 509.30M 496.26M 496.30M
Normalized Net Operating Profit after Tax (NOPAT)		 715 938 1,044 1,785 1,657 1,443 1,244 3,152 3,660 1,905
Normalized NOPAT Margin		 20.81% 27.42% 19.91% 28.68% 27.66% 25.76% 16.99% 26.23% 29.74% 20.20%
Pre Tax Income Margin		 23.58% 27.97% 17.82% 26.59% 24.80% 23.41% 18.16% 25.79% 29.32% 18.85%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 30.65 11.54 4.61 7.49 7.44 7.76 4.32 16.43 14.48 6.27
NOPAT to Interest Expense		 26.44 10.43 3.99 6.82 6.85 7.21 4.43 14.51 13.27 5.80
EBIT Less CapEx to Interest Expense		 24.96 10.11 3.79 6.49 6.24 6.91 3.46 12.94 9.71 4.00
NOPAT Less CapEx to Interest Expense		 20.75 9.00 3.18 5.81 5.65 6.36 3.57 11.02 8.50 3.54
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 70.47% 59.56% 74.76% 46.67% 57.04% 72.59% 79.78% 56.19% 50.66% 109.80%
Augmented Payout Ratio		 103.03% 102.50% 80.54% 61.67% 102.02% 92.62% 267.15% 149.95% 140.08% 147.44%

Quarterly Metrics And Ratios for Analog Devices

This table displays calculated financial ratios and metrics derived from Analog Devices' official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 7/30/2022 10/29/2022 1/28/2023 4/29/2023 7/29/2023 10/28/2023 2/3/2024 5/4/2024 8/3/2024 11/2/2024 2/1/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 76.81% 38.82% 21.06% 9.79% -1.07% -16.36% -22.68% -33.83% -24.84% -10.06% -3.56%
EBITDA Growth		 81.63% 181.01% 80.99% 14.36% 3.17% -29.66% -35.31% -46.83% -33.55% -6.73% -9.37%
EBIT Growth		 45.52% 864.27% 199.25% 22.66% 4.24% -41.88% -48.23% -66.06% -48.50% -9.95% -16.17%
NOPAT Growth		 47.16% 1,321.11% 220.78% 23.97% 18.09% -43.85% -47.86% -64.54% -51.11% -4.67% -16.42%
Net Income Growth		 48.81% 1,136.97% 243.29% 24.82% 17.09% -46.76% -51.87% -69.09% -55.28% -4.08% -15.43%
EPS Growth		 6.67% 2,657.14% 254.72% 28.86% 20.83% -43.58% -50.53% -68.23% -54.60% -5.94% -16.13%
Operating Cash Flow Growth		 98.06% 22.18% 64.21% -11.48% -8.45% 3.30% -19.02% -25.31% -25.16% -11.49% -1.06%
Free Cash Flow Firm Growth		 -2,830.91% 107.80% 105.88% 104.28% 102.27% -74.23% -53.48% -7.86% 157.49% 212.27% 152.42%
Invested Capital Growth		 161.36% -2.61% -1.16% -0.12% 0.90% 0.03% -0.41% -1.49% -2.37% -2.79% -3.20%
Revenue Q/Q Growth		 4.64% 4.43% 0.06% 0.41% -5.71% -11.70% -7.50% -14.08% 7.09% 5.67% -0.82%
EBITDA Q/Q Growth		 -1.86% 12.71% 2.80% 0.57% -11.47% -23.15% -5.45% -17.34% 10.64% 7.87% -8.12%
EBIT Q/Q Growth		 -3.33% 21.63% 2.91% 1.38% -17.85% -32.19% -8.34% -33.53% 24.66% 18.57% -14.68%
NOPAT Q/Q Growth		 -3.53% 24.82% 2.84% 0.12% -8.11% -40.65% -4.51% -31.92% 26.72% 15.72% -16.28%
Net Income Q/Q Growth		 -4.38% 25.00% 2.70% 1.68% -10.29% -43.17% -7.16% -34.68% 29.77% 21.89% -18.15%
EPS Q/Q Growth		 -3.36% 24.31% 5.03% 2.13% -9.38% -41.95% -7.92% -34.41% 29.51% 20.25% -17.89%
Operating Cash Flow Q/Q Growth		 2.13% -7.89% 22.36% -23.09% 5.63% 3.92% -4.08% -29.06% 5.84% 22.90% 7.23%
Free Cash Flow Firm Q/Q Growth		 0.53% 108.48% -28.55% -29.00% -47.25% -3.71% 29.01% 40.62% 47.40% 16.78% 4.28%
Invested Capital Q/Q Growth		 -0.60% 0.43% -0.33% 0.39% 0.41% -0.43% -0.77% -0.71% -0.48% -0.86% -1.19%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 65.70% 65.98% 65.37% 65.72% 63.76% 60.62% 58.66% 54.66% 56.71% 57.96% 59.03%
EBITDA Margin		 47.47% 51.24% 52.64% 52.73% 49.51% 43.09% 44.04% 42.37% 43.77% 44.68% 41.39%
Operating Margin		 28.72% 33.95% 34.80% 34.58% 30.21% 23.35% 23.32% 17.88% 21.25% 23.31% 20.28%
EBIT Margin		 28.85% 33.60% 34.56% 34.90% 30.40% 23.35% 23.14% 17.90% 20.83% 23.38% 20.11%
Profit (Net Income) Margin		 24.08% 28.83% 29.59% 29.96% 28.51% 18.35% 18.42% 14.00% 16.96% 19.57% 16.15%
Tax Burden Percent		 88.33% 89.33% 89.57% 89.86% 100.25% 87.17% 90.13% 93.11% 92.73% 92.59% 89.84%
Interest Burden Percent		 94.50% 96.03% 95.58% 95.55% 93.53% 90.15% 88.31% 84.00% 87.81% 90.40% 89.38%
Effective Tax Rate		 11.67% 10.67% 10.43% 10.14% -0.25% 12.83% 9.87% 6.89% 7.27% 7.41% 10.16%
Return on Invested Capital (ROIC)		 9.85% 8.65% 9.41% 9.62% 9.36% 6.03% 5.88% 4.22% 4.63% 4.96% 4.19%
ROIC Less NNEP Spread (ROIC-NNEP)		 8.89% 7.66% 8.31% 8.89% 8.32% 5.04% 4.65% 3.21% 3.52% 4.09% 3.24%
Return on Net Nonoperating Assets (RNNOA)		 1.51% 1.00% 1.05% 1.22% 1.21% 0.77% 0.68% 0.51% 0.56% 0.65% 0.48%
Return on Equity (ROE)		 11.36% 9.66% 10.46% 10.84% 10.57% 6.80% 6.57% 4.73% 5.20% 5.61% 4.68%
Cash Return on Invested Capital (CROIC)		 -81.38% 9.55% 9.82% 9.26% 8.60% 8.42% 7.74% 7.27% 7.00% 7.40% 7.65%
Operating Return on Assets (OROA)		 8.90% 7.87% 8.57% 8.95% 7.83% 5.80% 5.43% 3.81% 4.13% 4.54% 3.90%
Return on Assets (ROA)		 7.43% 6.75% 7.34% 7.69% 7.34% 4.56% 4.32% 2.98% 3.36% 3.80% 3.13%
Return on Common Equity (ROCE)		 11.36% 9.66% 10.46% 10.84% 10.57% 6.80% 6.57% 4.73% 5.20% 5.61% 4.68%
Return on Equity Simple (ROE_SIMPLE)		 5.15% 0.00% 9.39% 10.06% 10.45% 0.00% 7.92% 6.07% 4.70% 0.00% 4.46%
Net Operating Profit after Tax (NOPAT)		 789 985 1,013 1,014 932 553 528 360 456 527 441
NOPAT Margin		 25.37% 30.33% 31.17% 31.08% 30.29% 20.36% 21.02% 16.65% 19.70% 21.58% 18.22%
Net Nonoperating Expense Percent (NNEP)		 0.97% 1.00% 1.10% 0.72% 1.04% 0.99% 1.24% 1.02% 1.11% 0.88% 0.95%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - 1.24% - - - 1.04%
Cost of Revenue to Revenue		 34.30% 34.02% 34.63% 34.28% 36.24% 39.38% 41.34% 45.34% 43.29% 42.04% 40.97%
SG&A Expenses to Revenue		 10.51% 10.36% 10.04% 9.94% 10.86% 10.64% 11.54% 11.31% 11.12% 11.35% 11.75%
R&D to Revenue		 13.89% 12.96% 12.74% 12.74% 13.77% 14.97% 15.58% 16.44% 15.69% 15.51% 16.63%
Operating Expenses to Revenue		 36.97% 32.03% 30.57% 31.14% 33.55% 37.27% 35.34% 36.77% 35.46% 34.66% 38.75%
Earnings before Interest and Taxes (EBIT)		 897 1,091 1,123 1,139 935 634 581 386 482 571 487
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1,476 1,664 1,711 1,720 1,523 1,170 1,107 915 1,012 1,092 1,003
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.35 1.97 2.32 2.47 2.72 2.21 2.65 2.80 2.93 3.18 3.00
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 7.76 5.98 6.73 6.91 7.61 6.39 8.14 9.42 10.64 11.88 11.26
Price to Earnings (P/E)		 45.63 26.16 24.68 24.54 26.04 23.73 33.43 46.07 62.33 68.46 67.24
Dividend Yield		 1.75% 2.12% 1.83% 1.79% 1.66% 2.12% 1.82% 1.76% 1.71% 1.61% 1.74%
Earnings Yield		 2.19% 3.82% 4.05% 4.08% 3.84% 4.21% 2.99% 2.17% 1.60% 1.46% 1.49%
Enterprise Value to Invested Capital (EV/IC)		 2.20 1.85 2.16 2.27 2.48 2.04 2.42 2.55 2.67 2.90 2.76
Enterprise Value to Revenue (EV/Rev)		 8.18 6.41 7.12 7.34 8.07 6.88 8.63 9.97 11.21 12.43 11.78
Enterprise Value to EBITDA (EV/EBITDA)		 20.12 13.77 14.08 14.38 15.64 13.82 18.08 22.12 25.87 28.40 27.36
Enterprise Value to EBIT (EV/EBIT)		 39.28 23.38 22.16 22.23 24.14 22.09 30.34 41.10 52.19 57.98 57.10
Enterprise Value to NOPAT (EV/NOPAT)		 40.08 26.47 24.83 24.86 26.26 24.10 32.96 43.90 57.39 62.65 61.68
Enterprise Value to Operating Cash Flow (EV/OCF)		 21.30 17.20 17.81 19.34 21.66 17.57 21.94 24.39 27.26 30.41 28.64
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 19.14 21.88 24.53 28.99 24.18 31.21 34.80 37.69 38.65 35.46
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.17 0.18 0.18 0.19 0.19 0.20 0.20 0.23 0.23 0.22 0.22
Long-Term Debt to Equity		 0.17 0.18 0.18 0.18 0.18 0.17 0.17 0.19 0.19 0.19 0.19
Financial Leverage		 0.17 0.13 0.13 0.14 0.15 0.15 0.15 0.16 0.16 0.16 0.15
Leverage Ratio		 1.47 1.38 1.37 1.37 1.37 1.38 1.37 1.38 1.38 1.37 1.36
Compound Leverage Factor		 1.39 1.32 1.31 1.31 1.29 1.24 1.21 1.16 1.21 1.24 1.22
Debt to Total Capital		 14.58% 15.22% 15.19% 15.74% 16.28% 16.34% 16.43% 18.61% 18.72% 17.73% 17.75%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.59% 1.27% 2.46% 2.45% 3.34% 3.34% 2.22% 2.22%
Long-Term Debt to Total Capital		 14.58% 15.22% 15.19% 15.15% 15.01% 13.88% 13.98% 15.27% 15.37% 15.52% 15.52%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 85.42% 84.78% 84.81% 84.26% 83.72% 83.66% 83.57% 81.39% 81.28% 82.27% 82.25%
Debt to EBITDA		 1.38 1.17 1.03 1.02 1.06 1.13 1.27 1.71 1.93 1.84 1.88
Net Debt to EBITDA		 1.05 0.91 0.77 0.84 0.88 0.98 1.03 1.21 1.32 1.27 1.20
Long-Term Debt to EBITDA		 1.38 1.17 1.03 0.99 0.97 0.96 1.08 1.40 1.58 1.61 1.65
Debt to NOPAT		 2.76 2.25 1.82 1.77 1.77 1.98 2.31 3.39 4.28 4.05 4.24
Net Debt to NOPAT		 2.09 1.75 1.35 1.46 1.48 1.71 1.88 2.40 2.93 2.79 2.72
Long-Term Debt to NOPAT		 2.76 2.25 1.82 1.70 1.63 1.68 1.96 2.78 3.51 3.55 3.71
Altman Z-Score		 4.33 3.73 4.35 4.61 5.02 4.19 5.01 4.93 5.19 5.74 5.49
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.92 2.02 2.12 1.79 1.71 1.37 1.51 1.58 1.69 1.84 1.93
Quick Ratio		 1.34 1.34 1.36 1.06 0.98 0.76 0.86 1.02 1.14 1.24 1.32
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -24,750 2,098 1,499 1,064 561 541 697 981 1,446 1,688 1,760
Operating Cash Flow to CapEx		 756.80% 377.44% 798.32% 380.39% 351.99% 249.23% 510.74% 429.28% 555.62% 635.28% 756.36%
Free Cash Flow to Firm to Interest Expense		 -483.51 43.98 24.80 16.83 8.10 7.55 9.04 12.72 16.97 20.39 23.39
Operating Cash Flow to Interest Expense		 24.38 24.09 23.26 17.10 16.47 16.58 14.76 10.48 10.04 12.69 14.97
Operating Cash Flow Less CapEx to Interest Expense		 21.16 17.71 20.35 12.60 11.79 9.93 11.87 8.04 8.23 10.69 12.99
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.31 0.23 0.25 0.26 0.26 0.25 0.23 0.21 0.20 0.19 0.19
Accounts Receivable Turnover		 8.66 7.37 7.70 7.98 7.64 7.53 8.19 7.99 7.07 6.72 7.82
Inventory Turnover		 4.94 3.45 3.47 3.24 3.06 2.91 2.82 2.69 2.61 2.62 2.64
Fixed Asset Turnover		 6.62 5.49 5.51 5.32 5.03 4.38 3.98 3.40 3.07 2.84 2.81
Accounts Payable Turnover		 11.33 8.74 8.91 8.65 7.90 8.24 9.31 8.48 8.09 8.25 10.43
Days Sales Outstanding (DSO)		 42.16 49.51 47.39 45.72 47.75 48.50 44.59 45.71 51.61 54.32 46.70
Days Inventory Outstanding (DIO)		 73.92 105.90 105.31 112.57 119.09 125.37 129.30 135.81 140.04 139.38 138.15
Days Payable Outstanding (DPO)		 32.22 41.77 40.97 42.18 46.23 44.31 39.21 43.07 45.10 44.23 35.00
Cash Conversion Cycle (CCC)		 83.87 113.65 111.74 116.11 120.62 129.56 134.68 138.45 146.55 149.47 149.85
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 41,366 41,543 41,404 41,565 41,737 41,556 41,235 40,944 40,747 40,395 39,916
Invested Capital Turnover		 0.39 0.29 0.30 0.31 0.31 0.30 0.28 0.25 0.24 0.23 0.23
Increase / (Decrease) in Invested Capital		 25,539 -1,113 -486 -50 370 12 -169 -621 -990 -1,161 -1,319
Enterprise Value (EV)		 90,886 76,968 89,513 94,485 103,539 84,633 99,816 104,301 108,750 117,168 110,006
Market Capitalization		 86,158 71,890 84,640 88,933 97,705 78,642 94,129 98,606 103,193 111,949 105,160
Book Value per Share		 $70.49 $70.90 $71.73 $71.19 $71.60 $71.37 $71.70 $71.08 $70.92 $70.85 $70.66
Tangible Book Value per Share		 ($7.78) ($7.22) ($6.18) ($6.25) ($5.53) ($5.34) ($4.51) ($4.23) ($3.46) ($2.66) ($2.13)
Total Capital		 42,891 43,014 43,075 42,743 42,886 42,514 42,539 43,307 43,293 42,758 42,637
Total Debt		 6,253 6,549 6,543 6,729 6,982 6,949 6,990 8,059 8,102 7,582 7,567
Total Long-Term Debt		 6,253 6,549 6,543 6,476 6,438 5,902 5,947 6,612 6,656 6,634 6,619
Net Debt		 4,728 5,078 4,873 5,552 5,833 5,991 5,687 5,695 5,557 5,219 4,845
Capital Expenditures (CapEx)		 165 305 176 284 325 476 223 188 154 165 149
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 724 1,025 1,057 1,175 1,400 1,271 1,233 979 1,117 1,081 989
Debt-free Net Working Capital (DFNWC)		 2,249 2,495 2,728 2,352 2,549 2,229 2,536 3,343 3,663 3,444 3,710
Net Working Capital (NWC)		 2,249 2,495 2,728 2,099 2,004 1,183 1,493 1,896 2,216 2,496 2,762
Net Nonoperating Expense (NNE)		 40 49 51 36 55 55 65 57 63 49 50
Net Nonoperating Obligations (NNO)		 4,728 5,078 4,873 5,552 5,833 5,991 5,687 5,695 5,557 5,219 4,845
Total Depreciation and Amortization (D&A)		 579 573 587 582 588 536 525 528 530 520 516
Debt-free, Cash-free Net Working Capital to Revenue		 6.52% 8.53% 8.41% 9.13% 10.90% 10.33% 10.66% 9.36% 11.52% 11.46% 10.59%
Debt-free Net Working Capital to Revenue		 20.25% 20.77% 21.69% 18.28% 19.86% 18.12% 21.92% 31.95% 37.76% 36.53% 39.74%
Net Working Capital to Revenue		 20.25% 20.77% 21.69% 16.31% 15.61% 9.61% 12.90% 18.12% 22.85% 26.48% 29.58%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.45 $1.81 $1.90 $1.94 $1.75 $1.01 $0.93 $0.61 $0.79 $0.97 $0.79
Adjusted Weighted Average Basic Shares Outstanding		 517.01M 519.23M 507.12M 504.72M 500.02M 502.23M 495.77M 496.13M 496.34M 496.17M 496.12M
Adjusted Diluted Earnings per Share		 $1.44 $1.79 $1.88 $1.92 $1.74 $1.01 $0.93 $0.61 $0.79 $0.95 $0.78
Adjusted Weighted Average Diluted Shares Outstanding		 520.55M 523.18M 511.18M 508.73M 503.50M 505.96M 498.74M 498.53M 498.79M 498.70M 498.67M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 514.34M 509.30M 505.85M 501.42M 498.31M 496.26M 495.91M 496.22M 496.49M 496.30M 495.98M
Normalized Net Operating Profit after Tax (NOPAT)		 911 1,012 1,013 1,035 667 652 543 365 467 530 499
Normalized NOPAT Margin		 29.30% 31.15% 31.17% 31.71% 21.68% 24.02% 21.60% 16.91% 20.20% 21.69% 20.58%
Pre Tax Income Margin		 27.27% 32.27% 33.03% 33.34% 28.44% 21.05% 20.43% 15.03% 18.29% 21.13% 17.98%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 17.53 22.88 18.58 18.00 13.49 8.86 7.54 5.01 5.66 6.90 6.48
NOPAT to Interest Expense		 15.41 20.64 16.75 16.03 13.44 7.72 6.85 4.66 5.35 6.37 5.86
EBIT Less CapEx to Interest Expense		 14.31 16.49 15.66 13.51 8.81 2.21 4.65 2.57 3.85 4.90 4.50
NOPAT Less CapEx to Interest Expense		 12.19 14.26 13.84 11.54 8.76 1.07 3.96 2.22 3.54 4.37 3.89
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 80.80% 56.19% 45.70% 44.28% 43.74% 50.66% 61.07% 81.32% 106.71% 109.80% 116.74%
Augmented Payout Ratio		 284.97% 149.95% 137.70% 141.73% 132.01% 140.08% 149.49% 154.17% 166.54% 147.44% 154.83%

Key Financial Trends

Analog Devices Inc. (NASDAQ: ADI) has demonstrated generally stable financial performance over the past four years, with some fluctuations across key income statement, cash flow, and balance sheet metrics through recent quarterly reports.

Revenue and Profitability Trends

  • Total revenue has remained strong with a modest decline recently; Q1 2025 revenue was approximately $2.42 billion, only slightly below Q1 2024’s $2.51 billion, indicating revenue resilience amidst industry headwinds.
  • Gross profit margins remain healthy, with Q1 2025 gross profit at $1.43 billion, up from $1.18 billion in Q2 2024, reflecting effective cost management.
  • Operating expenses, including R&D and SG&A, have increased reflecting possible investment in innovation and sales efforts—Q1 2025 operating expenses were about $939 million compared to $794 million in Q2 2024.
  • Net income showed variability, with Q1 2025 net income at $391 million, down from $462 million in Q1 2024, indicating some pressure on overall profitability.
  • Earnings per share (EPS) followed net income trends, with diluted EPS for Q1 2025 at $0.78 versus $0.93 in Q1 2024, partially impacted by share count changes.

Cash Flow Analysis

  • Strong operating cash flow generation is a consistent positive; Q1 2025 net cash from operating activities was $1.13 billion, slightly up from $1.14 billion in Q1 2024, supporting business operations and investments.
  • Capital expenditures have been significant, with Q1 2025 purchases of property plant and equipment at $149 million, up from $176 million in Q1 2024, which might pressure free cash flow in the near term.
  • Financing activities show heavy debt repayments ($1.97 billion in Q1 2025) partially offset by new debt issuance ($1.97 billion), indicating active debt management but potential refinancing risk.
  • The company returned substantial cash to shareholders through dividends ($0.92 per share in Q1 2025) and share repurchases, which while shareholder-friendly, may limit liquidity flexibility during market downturns.

Balance Sheet Highlights

  • Strong liquidity with cash and equivalents increasing to nearly $2.35 billion in Q1 2025 from $1.30 billion in Q1 2024, providing ample runway for operational needs and investments.
  • Total assets have been relatively stable around $48-50 billion over the past year, reflecting steady investment and asset base.
  • Total liabilities increased slightly to $12.9 billion in Q1 2025 from around $13 billion in 2024, with notable long-term debt levels (~$6.6 billion), which could increase interest burden and leverage risks if earnings weaken.
  • Total common equity remains solid near $35 billion, indicating strong capital structure and shareholder value.

Summary: Analog Devices demonstrates stable and resilient revenue streams supported by healthy gross margins and solid operating cash flows. The company continues to invest heavily in R&D and capital assets, signaling a growth focus, though this increases expense and capital demands. Debt levels and interest expenses remain material but manageable given current earnings. Shareholder returns through dividends and buybacks are robust, underscoring confidence but potentially limiting liquidity growth. Retail investors should watch for trends in profitability and leverage, but overall ADI appears financially sound with a commitment to investment and shareholder returns.

08/04/25 10:09 PMAI Generated. May Contain Errors.

Frequently Asked Questions About Analog Devices' Financials

When does Analog Devices' fiscal year end?

According to the most recent income statement we have on file, Analog Devices' financial year ends in November. Their financial year 2024 ended on November 2, 2024.

How has Analog Devices' net income changed over the last 9 years?

Analog Devices' net income appears to be on an upward trend, with a most recent value of $1.64 billion in 2024, rising from $696.88 million in 2015. The previous period was $3.31 billion in 2023. View Analog Devices' forecast to see where analysts expect Analog Devices to go next.

What is Analog Devices' operating income?
Analog Devices' total operating income in 2024 was $2.03 billion, based on the following breakdown:
  • Total Gross Profit: $5.38 billion
  • Total Operating Expenses: $3.35 billion
How has Analog Devices' revenue changed over the last 9 years?

Over the last 9 years, Analog Devices' total revenue changed from $3.44 billion in 2015 to $9.43 billion in 2024, a change of 174.4%.

How much debt does Analog Devices have?

Analog Devices' total liabilities were at $13.05 billion at the end of 2024, a 1.3% decrease from 2023, and a 557.3% increase since 2015.

How much cash does Analog Devices have?

In the past 9 years, Analog Devices' cash and equivalents has ranged from $648.32 million in 2019 to $1.99 billion in 2024, and is currently $1.99 billion as of their latest financial filing in 2024.

How has Analog Devices' book value per share changed over the last 9 years?

Over the last 9 years, Analog Devices' book value per share changed from 16.16 in 2015 to 70.85 in 2024, a change of 338.3%.


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This page (NASDAQ:ADI) was last updated on 8/4/2025 by MarketBeat.com Staff
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