Analysis of Solvency Ratios
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Analog Devices Inc., solvency ratios
Based on: 10-K (reporting date: 2023-10-28), 10-K (reporting date: 2022-10-29), 10-K (reporting date: 2021-10-30), 10-K (reporting date: 2020-10-31), 10-K (reporting date: 2019-11-02), 10-K (reporting date: 2018-11-03).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Analog Devices Inc. debt to equity ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Analog Devices Inc. debt to equity ratio (including operating lease liability) deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Analog Devices Inc. debt to capital ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Analog Devices Inc. debt to capital ratio (including operating lease liability) deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Analog Devices Inc. debt to assets ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Analog Devices Inc. debt to assets ratio (including operating lease liability) deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Analog Devices Inc. financial leverage ratio increased from 2021 to 2022 but then decreased significantly from 2022 to 2023. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Analog Devices Inc. interest coverage ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Analog Devices Inc. fixed charge coverage ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Debt to Equity
Analog Devices Inc., debt to equity calculation, comparison to benchmarks
| Oct 28, 2023 | Oct 29, 2022 | Oct 30, 2021 | Oct 31, 2020 | Nov 2, 2019 | Nov 3, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Debt, current | 499,052) | —) | 516,663) | —) | 299,667) | 67,000) | |
| Commercial paper notes | 547,224) | —) | —) | —) | —) | —) | |
| Long-term debt, excluding current | 5,902,457) | 6,548,625) | 6,253,212) | 5,145,102) | 5,192,252) | 6,265,674) | |
| Total debt | 6,948,733) | 6,548,625) | 6,769,875) | 5,145,102) | 5,491,919) | 6,332,674) | |
| Shareholders’ equity | 35,565,122) | 36,465,323) | 37,992,542) | 11,997,945) | 11,709,188) | 10,988,540) | |
| Solvency Ratio | |||||||
| Debt to equity1 | 0.20 | 0.18 | 0.18 | 0.43 | 0.47 | 0.58 | |
| Benchmarks | |||||||
| Debt to Equity, Competitors2 | |||||||
| Advanced Micro Devices Inc. | 0.04 | 0.05 | 0.04 | 0.06 | 0.17 | — | |
| Applied Materials Inc. | 0.35 | 0.45 | 0.45 | 0.52 | 0.65 | 0.78 | |
| Broadcom Inc. | 1.64 | 1.74 | 1.59 | 1.72 | 1.32 | 0.66 | |
| Intel Corp. | 0.47 | 0.41 | 0.40 | 0.45 | 0.37 | — | |
| KLA Corp. | 2.02 | 4.75 | 1.02 | 1.30 | 1.29 | 1.38 | |
| Lam Research Corp. | 0.61 | 0.80 | 0.83 | 1.12 | 0.96 | 0.37 | |
| Micron Technology Inc. | 0.30 | 0.14 | 0.15 | 0.17 | 0.16 | 0.14 | |
| NVIDIA Corp. | 0.50 | 0.41 | 0.41 | 0.16 | 0.21 | — | |
| ON Semiconductor Corp. | 0.43 | 0.52 | 0.68 | 0.99 | 1.09 | — | |
| Qualcomm Inc. | 0.71 | 0.86 | 1.58 | 2.59 | 3.25 | 17.64 | |
| Texas Instruments Inc. | 0.66 | 0.60 | 0.58 | 0.74 | 0.65 | — | |
| Debt to Equity, Sector | |||||||
| Semiconductors & Semiconductor Equipment | 0.47 | 0.44 | 0.50 | 0.63 | 0.59 | — | |
| Debt to Equity, Industry | |||||||
| Information Technology | 0.63 | 0.67 | 0.77 | 0.88 | 0.88 | — | |
Based on: 10-K (reporting date: 2023-10-28), 10-K (reporting date: 2022-10-29), 10-K (reporting date: 2021-10-30), 10-K (reporting date: 2020-10-31), 10-K (reporting date: 2019-11-02), 10-K (reporting date: 2018-11-03).
1 2023 Calculation
Debt to equity = Total debt ÷ Shareholders’ equity
= 6,948,733 ÷ 35,565,122 = 0.20
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Analog Devices Inc. debt to equity ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Debt to Equity (including Operating Lease Liability)
Analog Devices Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks
| Oct 28, 2023 | Oct 29, 2022 | Oct 30, 2021 | Oct 31, 2020 | Nov 2, 2019 | Nov 3, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Debt, current | 499,052) | —) | 516,663) | —) | 299,667) | 67,000) | |
| Commercial paper notes | 547,224) | —) | —) | —) | —) | —) | |
| Long-term debt, excluding current | 5,902,457) | 6,548,625) | 6,253,212) | 5,145,102) | 5,192,252) | 6,265,674) | |
| Total debt | 6,948,733) | 6,548,625) | 6,769,875) | 5,145,102) | 5,491,919) | 6,332,674) | |
| Current operating lease liabilities | 64,745) | 53,628) | 52,576) | 39,923) | —) | —) | |
| Non-current operating lease liabilities (in Other non-current liabilities) | 360,460) | 337,279) | 295,782) | 288,492) | —) | —) | |
| Total debt (including operating lease liability) | 7,373,938) | 6,939,532) | 7,118,233) | 5,473,517) | 5,491,919) | 6,332,674) | |
| Shareholders’ equity | 35,565,122) | 36,465,323) | 37,992,542) | 11,997,945) | 11,709,188) | 10,988,540) | |
| Solvency Ratio | |||||||
| Debt to equity (including operating lease liability)1 | 0.21 | 0.19 | 0.19 | 0.46 | 0.47 | 0.58 | |
| Benchmarks | |||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | |||||||
| Advanced Micro Devices Inc. | 0.06 | 0.05 | 0.10 | 0.10 | 0.26 | — | |
| Applied Materials Inc. | 0.37 | 0.48 | 0.47 | 0.54 | 0.65 | 0.78 | |
| Broadcom Inc. | 1.65 | 1.76 | 1.61 | 1.75 | 1.32 | 0.66 | |
| Intel Corp. | 0.47 | 0.42 | 0.40 | 0.46 | 0.38 | — | |
| KLA Corp. | 2.08 | 4.83 | 1.05 | 1.34 | 1.29 | 1.38 | |
| Lam Research Corp. | 0.64 | 0.83 | 0.86 | 1.16 | 0.96 | 0.37 | |
| Micron Technology Inc. | 0.32 | 0.15 | 0.17 | 0.19 | 0.16 | 0.14 | |
| NVIDIA Corp. | 0.54 | 0.44 | 0.46 | 0.22 | 0.21 | — | |
| ON Semiconductor Corp. | 0.47 | 0.57 | 0.71 | 1.03 | 1.13 | — | |
| Qualcomm Inc. | 0.74 | 0.90 | 1.64 | 2.67 | 3.25 | 17.64 | |
| Texas Instruments Inc. | 0.70 | 0.63 | 0.62 | 0.77 | 0.69 | — | |
| Debt to Equity (including Operating Lease Liability), Sector | |||||||
| Semiconductors & Semiconductor Equipment | 0.48 | 0.45 | 0.52 | 0.65 | 0.59 | — | |
| Debt to Equity (including Operating Lease Liability), Industry | |||||||
| Information Technology | 0.69 | 0.73 | 0.84 | 0.95 | 0.90 | — | |
Based on: 10-K (reporting date: 2023-10-28), 10-K (reporting date: 2022-10-29), 10-K (reporting date: 2021-10-30), 10-K (reporting date: 2020-10-31), 10-K (reporting date: 2019-11-02), 10-K (reporting date: 2018-11-03).
1 2023 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Shareholders’ equity
= 7,373,938 ÷ 35,565,122 = 0.21
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Analog Devices Inc. debt to equity ratio (including operating lease liability) deteriorated from 2021 to 2022 and from 2022 to 2023. |
Debt to Capital
Analog Devices Inc., debt to capital calculation, comparison to benchmarks
| Oct 28, 2023 | Oct 29, 2022 | Oct 30, 2021 | Oct 31, 2020 | Nov 2, 2019 | Nov 3, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Debt, current | 499,052) | —) | 516,663) | —) | 299,667) | 67,000) | |
| Commercial paper notes | 547,224) | —) | —) | —) | —) | —) | |
| Long-term debt, excluding current | 5,902,457) | 6,548,625) | 6,253,212) | 5,145,102) | 5,192,252) | 6,265,674) | |
| Total debt | 6,948,733) | 6,548,625) | 6,769,875) | 5,145,102) | 5,491,919) | 6,332,674) | |
| Shareholders’ equity | 35,565,122) | 36,465,323) | 37,992,542) | 11,997,945) | 11,709,188) | 10,988,540) | |
| Total capital | 42,513,855) | 43,013,948) | 44,762,417) | 17,143,047) | 17,201,107) | 17,321,214) | |
| Solvency Ratio | |||||||
| Debt to capital1 | 0.16 | 0.15 | 0.15 | 0.30 | 0.32 | 0.37 | |
| Benchmarks | |||||||
| Debt to Capital, Competitors2 | |||||||
| Advanced Micro Devices Inc. | 0.04 | 0.04 | 0.04 | 0.05 | 0.15 | — | |
| Applied Materials Inc. | 0.26 | 0.31 | 0.31 | 0.34 | 0.39 | 0.44 | |
| Broadcom Inc. | 0.62 | 0.64 | 0.61 | 0.63 | 0.57 | 0.40 | |
| Intel Corp. | 0.32 | 0.29 | 0.29 | 0.31 | 0.27 | — | |
| KLA Corp. | 0.67 | 0.83 | 0.50 | 0.57 | 0.56 | 0.58 | |
| Lam Research Corp. | 0.38 | 0.44 | 0.45 | 0.53 | 0.49 | 0.27 | |
| Micron Technology Inc. | 0.23 | 0.12 | 0.13 | 0.15 | 0.14 | 0.13 | |
| NVIDIA Corp. | 0.33 | 0.29 | 0.29 | 0.14 | 0.18 | — | |
| ON Semiconductor Corp. | 0.30 | 0.34 | 0.40 | 0.50 | 0.52 | — | |
| Qualcomm Inc. | 0.42 | 0.46 | 0.61 | 0.72 | 0.76 | 0.95 | |
| Texas Instruments Inc. | 0.40 | 0.37 | 0.37 | 0.43 | 0.39 | — | |
| Debt to Capital, Sector | |||||||
| Semiconductors & Semiconductor Equipment | 0.32 | 0.30 | 0.34 | 0.39 | 0.37 | — | |
| Debt to Capital, Industry | |||||||
| Information Technology | 0.38 | 0.40 | 0.43 | 0.47 | 0.47 | — | |
Based on: 10-K (reporting date: 2023-10-28), 10-K (reporting date: 2022-10-29), 10-K (reporting date: 2021-10-30), 10-K (reporting date: 2020-10-31), 10-K (reporting date: 2019-11-02), 10-K (reporting date: 2018-11-03).
1 2023 Calculation
Debt to capital = Total debt ÷ Total capital
= 6,948,733 ÷ 42,513,855 = 0.16
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Analog Devices Inc. debt to capital ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Debt to Capital (including Operating Lease Liability)
Analog Devices Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks
| Oct 28, 2023 | Oct 29, 2022 | Oct 30, 2021 | Oct 31, 2020 | Nov 2, 2019 | Nov 3, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Debt, current | 499,052) | —) | 516,663) | —) | 299,667) | 67,000) | |
| Commercial paper notes | 547,224) | —) | —) | —) | —) | —) | |
| Long-term debt, excluding current | 5,902,457) | 6,548,625) | 6,253,212) | 5,145,102) | 5,192,252) | 6,265,674) | |
| Total debt | 6,948,733) | 6,548,625) | 6,769,875) | 5,145,102) | 5,491,919) | 6,332,674) | |
| Current operating lease liabilities | 64,745) | 53,628) | 52,576) | 39,923) | —) | —) | |
| Non-current operating lease liabilities (in Other non-current liabilities) | 360,460) | 337,279) | 295,782) | 288,492) | —) | —) | |
| Total debt (including operating lease liability) | 7,373,938) | 6,939,532) | 7,118,233) | 5,473,517) | 5,491,919) | 6,332,674) | |
| Shareholders’ equity | 35,565,122) | 36,465,323) | 37,992,542) | 11,997,945) | 11,709,188) | 10,988,540) | |
| Total capital (including operating lease liability) | 42,939,060) | 43,404,855) | 45,110,775) | 17,471,462) | 17,201,107) | 17,321,214) | |
| Solvency Ratio | |||||||
| Debt to capital (including operating lease liability)1 | 0.17 | 0.16 | 0.16 | 0.31 | 0.32 | 0.37 | |
| Benchmarks | |||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | |||||||
| Advanced Micro Devices Inc. | 0.05 | 0.05 | 0.09 | 0.09 | 0.20 | — | |
| Applied Materials Inc. | 0.27 | 0.32 | 0.32 | 0.35 | 0.39 | 0.44 | |
| Broadcom Inc. | 0.62 | 0.64 | 0.62 | 0.64 | 0.57 | 0.40 | |
| Intel Corp. | 0.32 | 0.30 | 0.29 | 0.31 | 0.28 | — | |
| KLA Corp. | 0.67 | 0.83 | 0.51 | 0.57 | 0.56 | 0.58 | |
| Lam Research Corp. | 0.39 | 0.45 | 0.46 | 0.54 | 0.49 | 0.27 | |
| Micron Technology Inc. | 0.24 | 0.13 | 0.14 | 0.16 | 0.14 | 0.13 | |
| NVIDIA Corp. | 0.35 | 0.31 | 0.31 | 0.18 | 0.18 | — | |
| ON Semiconductor Corp. | 0.32 | 0.36 | 0.42 | 0.51 | 0.53 | — | |
| Qualcomm Inc. | 0.43 | 0.47 | 0.62 | 0.73 | 0.76 | 0.95 | |
| Texas Instruments Inc. | 0.41 | 0.39 | 0.38 | 0.44 | 0.41 | — | |
| Debt to Capital (including Operating Lease Liability), Sector | |||||||
| Semiconductors & Semiconductor Equipment | 0.33 | 0.31 | 0.34 | 0.39 | 0.37 | — | |
| Debt to Capital (including Operating Lease Liability), Industry | |||||||
| Information Technology | 0.41 | 0.42 | 0.46 | 0.49 | 0.47 | — | |
Based on: 10-K (reporting date: 2023-10-28), 10-K (reporting date: 2022-10-29), 10-K (reporting date: 2021-10-30), 10-K (reporting date: 2020-10-31), 10-K (reporting date: 2019-11-02), 10-K (reporting date: 2018-11-03).
1 2023 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 7,373,938 ÷ 42,939,060 = 0.17
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Analog Devices Inc. debt to capital ratio (including operating lease liability) deteriorated from 2021 to 2022 and from 2022 to 2023. |
Debt to Assets
Analog Devices Inc., debt to assets calculation, comparison to benchmarks
| Oct 28, 2023 | Oct 29, 2022 | Oct 30, 2021 | Oct 31, 2020 | Nov 2, 2019 | Nov 3, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Debt, current | 499,052) | —) | 516,663) | —) | 299,667) | 67,000) | |
| Commercial paper notes | 547,224) | —) | —) | —) | —) | —) | |
| Long-term debt, excluding current | 5,902,457) | 6,548,625) | 6,253,212) | 5,145,102) | 5,192,252) | 6,265,674) | |
| Total debt | 6,948,733) | 6,548,625) | 6,769,875) | 5,145,102) | 5,491,919) | 6,332,674) | |
| Total assets | 48,794,478) | 50,302,350) | 52,322,071) | 21,468,603) | 21,392,641) | 20,449,779) | |
| Solvency Ratio | |||||||
| Debt to assets1 | 0.14 | 0.13 | 0.13 | 0.24 | 0.26 | 0.31 | |
| Benchmarks | |||||||
| Debt to Assets, Competitors2 | |||||||
| Advanced Micro Devices Inc. | 0.04 | 0.04 | 0.03 | 0.04 | 0.08 | — | |
| Applied Materials Inc. | 0.18 | 0.20 | 0.21 | 0.24 | 0.28 | 0.30 | |
| Broadcom Inc. | 0.54 | 0.54 | 0.53 | 0.54 | 0.49 | 0.35 | |
| Intel Corp. | 0.26 | 0.23 | 0.23 | 0.24 | 0.21 | — | |
| KLA Corp. | 0.42 | 0.53 | 0.34 | 0.37 | 0.38 | 0.40 | |
| Lam Research Corp. | 0.27 | 0.29 | 0.31 | 0.40 | 0.37 | 0.19 | |
| Micron Technology Inc. | 0.21 | 0.10 | 0.12 | 0.12 | 0.12 | 0.11 | |
| NVIDIA Corp. | 0.27 | 0.25 | 0.24 | 0.11 | 0.15 | — | |
| ON Semiconductor Corp. | 0.25 | 0.27 | 0.32 | 0.40 | 0.43 | — | |
| Qualcomm Inc. | 0.30 | 0.32 | 0.38 | 0.44 | 0.48 | 0.50 | |
| Texas Instruments Inc. | 0.35 | 0.32 | 0.31 | 0.35 | 0.32 | — | |
| Debt to Assets, Sector | |||||||
| Semiconductors & Semiconductor Equipment | 0.26 | 0.24 | 0.27 | 0.30 | 0.29 | — | |
| Debt to Assets, Industry | |||||||
| Information Technology | 0.26 | 0.26 | 0.28 | 0.30 | 0.31 | — | |
Based on: 10-K (reporting date: 2023-10-28), 10-K (reporting date: 2022-10-29), 10-K (reporting date: 2021-10-30), 10-K (reporting date: 2020-10-31), 10-K (reporting date: 2019-11-02), 10-K (reporting date: 2018-11-03).
1 2023 Calculation
Debt to assets = Total debt ÷ Total assets
= 6,948,733 ÷ 48,794,478 = 0.14
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Analog Devices Inc. debt to assets ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Debt to Assets (including Operating Lease Liability)
Analog Devices Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks
| Oct 28, 2023 | Oct 29, 2022 | Oct 30, 2021 | Oct 31, 2020 | Nov 2, 2019 | Nov 3, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Debt, current | 499,052) | —) | 516,663) | —) | 299,667) | 67,000) | |
| Commercial paper notes | 547,224) | —) | —) | —) | —) | —) | |
| Long-term debt, excluding current | 5,902,457) | 6,548,625) | 6,253,212) | 5,145,102) | 5,192,252) | 6,265,674) | |
| Total debt | 6,948,733) | 6,548,625) | 6,769,875) | 5,145,102) | 5,491,919) | 6,332,674) | |
| Current operating lease liabilities | 64,745) | 53,628) | 52,576) | 39,923) | —) | —) | |
| Non-current operating lease liabilities (in Other non-current liabilities) | 360,460) | 337,279) | 295,782) | 288,492) | —) | —) | |
| Total debt (including operating lease liability) | 7,373,938) | 6,939,532) | 7,118,233) | 5,473,517) | 5,491,919) | 6,332,674) | |
| Total assets | 48,794,478) | 50,302,350) | 52,322,071) | 21,468,603) | 21,392,641) | 20,449,779) | |
| Solvency Ratio | |||||||
| Debt to assets (including operating lease liability)1 | 0.15 | 0.14 | 0.14 | 0.25 | 0.26 | 0.31 | |
| Benchmarks | |||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | |||||||
| Advanced Micro Devices Inc. | 0.05 | 0.04 | 0.06 | 0.06 | 0.12 | — | |
| Applied Materials Inc. | 0.20 | 0.22 | 0.22 | 0.26 | 0.28 | 0.30 | |
| Broadcom Inc. | 0.54 | 0.55 | 0.53 | 0.55 | 0.49 | 0.35 | |
| Intel Corp. | 0.26 | 0.23 | 0.23 | 0.24 | 0.22 | — | |
| KLA Corp. | 0.43 | 0.54 | 0.35 | 0.38 | 0.38 | 0.40 | |
| Lam Research Corp. | 0.28 | 0.30 | 0.33 | 0.41 | 0.37 | 0.19 | |
| Micron Technology Inc. | 0.22 | 0.11 | 0.12 | 0.13 | 0.12 | 0.11 | |
| NVIDIA Corp. | 0.29 | 0.27 | 0.27 | 0.15 | 0.15 | — | |
| ON Semiconductor Corp. | 0.27 | 0.29 | 0.34 | 0.42 | 0.44 | — | |
| Qualcomm Inc. | 0.31 | 0.33 | 0.40 | 0.46 | 0.48 | 0.50 | |
| Texas Instruments Inc. | 0.36 | 0.34 | 0.33 | 0.37 | 0.34 | — | |
| Debt to Assets (including Operating Lease Liability), Sector | |||||||
| Semiconductors & Semiconductor Equipment | 0.27 | 0.25 | 0.27 | 0.31 | 0.29 | — | |
| Debt to Assets (including Operating Lease Liability), Industry | |||||||
| Information Technology | 0.28 | 0.29 | 0.31 | 0.33 | 0.32 | — | |
Based on: 10-K (reporting date: 2023-10-28), 10-K (reporting date: 2022-10-29), 10-K (reporting date: 2021-10-30), 10-K (reporting date: 2020-10-31), 10-K (reporting date: 2019-11-02), 10-K (reporting date: 2018-11-03).
1 2023 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 7,373,938 ÷ 48,794,478 = 0.15
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Analog Devices Inc. debt to assets ratio (including operating lease liability) deteriorated from 2021 to 2022 and from 2022 to 2023. |
Financial Leverage
Analog Devices Inc., financial leverage calculation, comparison to benchmarks
| Oct 28, 2023 | Oct 29, 2022 | Oct 30, 2021 | Oct 31, 2020 | Nov 2, 2019 | Nov 3, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Total assets | 48,794,478) | 50,302,350) | 52,322,071) | 21,468,603) | 21,392,641) | 20,449,779) | |
| Shareholders’ equity | 35,565,122) | 36,465,323) | 37,992,542) | 11,997,945) | 11,709,188) | 10,988,540) | |
| Solvency Ratio | |||||||
| Financial leverage1 | 1.37 | 1.38 | 1.38 | 1.79 | 1.83 | 1.86 | |
| Benchmarks | |||||||
| Financial Leverage, Competitors2 | |||||||
| Advanced Micro Devices Inc. | 1.21 | 1.23 | 1.66 | 1.54 | 2.13 | — | |
| Applied Materials Inc. | 1.88 | 2.19 | 2.11 | 2.11 | 2.32 | 2.60 | |
| Broadcom Inc. | 3.04 | 3.23 | 3.03 | 3.18 | 2.71 | 1.88 | |
| Intel Corp. | 1.81 | 1.80 | 1.77 | 1.89 | 1.76 | — | |
| KLA Corp. | 4.82 | 8.99 | 3.04 | 3.48 | 3.39 | 3.47 | |
| Lam Research Corp. | 2.29 | 2.74 | 2.64 | 2.81 | 2.57 | 1.92 | |
| Micron Technology Inc. | 1.46 | 1.33 | 1.34 | 1.38 | 1.36 | 1.34 | |
| NVIDIA Corp. | 1.86 | 1.66 | 1.70 | 1.42 | 1.42 | — | |
| ON Semiconductor Corp. | 1.70 | 1.94 | 2.10 | 2.45 | 2.55 | — | |
| Qualcomm Inc. | 2.37 | 2.72 | 4.14 | 5.86 | 6.71 | 35.22 | |
| Texas Instruments Inc. | 1.91 | 1.87 | 1.85 | 2.11 | 2.02 | — | |
| Financial Leverage, Sector | |||||||
| Semiconductors & Semiconductor Equipment | 1.79 | 1.79 | 1.90 | 2.08 | 2.02 | — | |
| Financial Leverage, Industry | |||||||
| Information Technology | 2.44 | 2.56 | 2.72 | 2.90 | 2.87 | — | |
Based on: 10-K (reporting date: 2023-10-28), 10-K (reporting date: 2022-10-29), 10-K (reporting date: 2021-10-30), 10-K (reporting date: 2020-10-31), 10-K (reporting date: 2019-11-02), 10-K (reporting date: 2018-11-03).
1 2023 Calculation
Financial leverage = Total assets ÷ Shareholders’ equity
= 48,794,478 ÷ 35,565,122 = 1.37
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Analog Devices Inc. financial leverage ratio increased from 2021 to 2022 but then decreased significantly from 2022 to 2023. |
Interest Coverage
Analog Devices Inc., interest coverage calculation, comparison to benchmarks
| Oct 28, 2023 | Oct 29, 2022 | Oct 30, 2021 | Oct 31, 2020 | Nov 2, 2019 | Nov 3, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Net income | 3,314,579) | 2,748,561) | 1,390,422) | 1,220,761) | 1,363,011) | 1,495,432) | |
| Add: Income tax expense | 293,424) | 350,188) | (61,708) | 90,856) | 122,717) | 143,085) | |
| Add: Interest expense | 264,641) | 200,408) | 184,825) | 193,305) | 229,075) | 253,589) | |
| Earnings before interest and tax (EBIT) | 3,872,644) | 3,299,157) | 1,513,539) | 1,504,922) | 1,714,803) | 1,892,106) | |
| Solvency Ratio | |||||||
| Interest coverage1 | 14.63 | 16.46 | 8.19 | 7.79 | 7.49 | 7.46 | |
| Benchmarks | |||||||
| Interest Coverage, Competitors2 | |||||||
| Advanced Micro Devices Inc. | 5.79 | 14.61 | 109.09 | 28.23 | 4.96 | — | |
| Applied Materials Inc. | 33.42 | 34.33 | 29.69 | 18.36 | 14.79 | 21.06 | |
| Broadcom Inc. | 10.31 | 8.16 | 4.59 | 2.37 | 2.54 | 8.24 | |
| Intel Corp. | 1.87 | 16.66 | 37.35 | 40.87 | 50.20 | — | |
| KLA Corp. | 13.76 | 22.76 | 16.00 | 9.22 | 11.40 | 13.73 | |
| Lam Research Corp. | 28.40 | 29.11 | 21.95 | 15.51 | 21.86 | 33.36 | |
| Micron Technology Inc. | -13.58 | 51.66 | 35.18 | 16.41 | 56.09 | 42.83 | |
| NVIDIA Corp. | 16.96 | 43.12 | 24.96 | 58.12 | 68.17 | — | |
| ON Semiconductor Corp. | 34.90 | 25.89 | 9.88 | 2.05 | 2.87 | — | |
| Qualcomm Inc. | 11.72 | 31.61 | 19.38 | 10.50 | 12.93 | 1.67 | |
| Texas Instruments Inc. | 22.01 | 47.88 | 49.47 | 32.67 | 34.69 | — | |
| Interest Coverage, Sector | |||||||
| Semiconductors & Semiconductor Equipment | 10.79 | 21.31 | 18.17 | 13.65 | 16.41 | — | |
| Interest Coverage, Industry | |||||||
| Information Technology | 18.91 | 24.76 | 22.93 | 16.69 | 15.79 | — | |
Based on: 10-K (reporting date: 2023-10-28), 10-K (reporting date: 2022-10-29), 10-K (reporting date: 2021-10-30), 10-K (reporting date: 2020-10-31), 10-K (reporting date: 2019-11-02), 10-K (reporting date: 2018-11-03).
1 2023 Calculation
Interest coverage = EBIT ÷ Interest expense
= 3,872,644 ÷ 264,641 = 14.63
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Analog Devices Inc. interest coverage ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Fixed Charge Coverage
Analog Devices Inc., fixed charge coverage calculation, comparison to benchmarks
| Oct 28, 2023 | Oct 29, 2022 | Oct 30, 2021 | Oct 31, 2020 | Nov 2, 2019 | Nov 3, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Net income | 3,314,579) | 2,748,561) | 1,390,422) | 1,220,761) | 1,363,011) | 1,495,432) | |
| Add: Income tax expense | 293,424) | 350,188) | (61,708) | 90,856) | 122,717) | 143,085) | |
| Add: Interest expense | 264,641) | 200,408) | 184,825) | 193,305) | 229,075) | 253,589) | |
| Earnings before interest and tax (EBIT) | 3,872,644) | 3,299,157) | 1,513,539) | 1,504,922) | 1,714,803) | 1,892,106) | |
| Add: Operating lease expense | 66,818) | 60,660) | 50,799) | 45,892) | 92,300) | 84,900) | |
| Earnings before fixed charges and tax | 3,939,462) | 3,359,817) | 1,564,338) | 1,550,814) | 1,807,103) | 1,977,006) | |
| Interest expense | 264,641) | 200,408) | 184,825) | 193,305) | 229,075) | 253,589) | |
| Operating lease expense | 66,818) | 60,660) | 50,799) | 45,892) | 92,300) | 84,900) | |
| Fixed charges | 331,459) | 261,068) | 235,624) | 239,197) | 321,375) | 338,489) | |
| Solvency Ratio | |||||||
| Fixed charge coverage1 | 11.89 | 12.87 | 6.64 | 6.48 | 5.62 | 5.84 | |
| Benchmarks | |||||||
| Fixed Charge Coverage, Competitors2 | |||||||
| Advanced Micro Devices Inc. | 3.18 | 6.82 | 36.00 | 13.08 | 3.48 | — | |
| Applied Materials Inc. | 23.69 | 24.67 | 22.50 | 14.48 | 12.35 | 17.53 | |
| Broadcom Inc. | 9.81 | 6.55 | 3.70 | 1.92 | 2.27 | 6.28 | |
| Intel Corp. | 1.59 | 7.34 | 16.56 | 25.00 | 36.69 | — | |
| KLA Corp. | 12.19 | 18.72 | 13.03 | 7.74 | 10.39 | 12.67 | |
| Lam Research Corp. | 20.49 | 21.44 | 17.80 | 12.52 | 17.83 | 27.07 | |
| Micron Technology Inc. | -9.77 | 31.49 | 22.49 | 11.10 | 32.90 | 36.32 | |
| NVIDIA Corp. | 10.19 | 25.61 | 14.40 | 18.89 | 29.23 | — | |
| ON Semiconductor Corp. | 20.57 | 16.23 | 7.58 | 1.82 | 2.46 | — | |
| Qualcomm Inc. | 9.29 | 22.52 | 14.48 | 8.30 | 10.68 | 1.55 | |
| Texas Instruments Inc. | 18.41 | 36.70 | 36.25 | 24.14 | 25.27 | — | |
| Fixed Charge Coverage, Sector | |||||||
| Semiconductors & Semiconductor Equipment | 8.57 | 14.45 | 12.61 | 10.13 | 12.91 | — | |
| Fixed Charge Coverage, Industry | |||||||
| Information Technology | 12.67 | 14.28 | 13.50 | 10.20 | 10.46 | — | |
Based on: 10-K (reporting date: 2023-10-28), 10-K (reporting date: 2022-10-29), 10-K (reporting date: 2021-10-30), 10-K (reporting date: 2020-10-31), 10-K (reporting date: 2019-11-02), 10-K (reporting date: 2018-11-03).
1 2023 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 3,939,462 ÷ 331,459 = 11.89
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Analog Devices Inc. fixed charge coverage ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |