Stock Analysis on Net

Analog Devices Inc. (NASDAQ:ADI)

$24.99

Analysis of Inventory

Microsoft Excel

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Inventory Disclosure

Analog Devices Inc., balance sheet: inventory

US$ in thousands

Microsoft Excel
Nov 1, 2025 Nov 2, 2024 Oct 28, 2023 Oct 29, 2022 Oct 30, 2021 Oct 31, 2020
Raw materials
Work in process
Finished goods
Inventories

Based on: 10-K (reporting date: 2025-11-01), 10-K (reporting date: 2024-11-02), 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).


Inventory Trends Overview
There is a consistent upward trend in the total inventories held, increasing from 608,260 thousand US dollars in 2020 to a peak of 1,642,214 thousand US dollars in 2023. A slight decrease is observed in 2024, followed by a resurgence in 2025.
Raw Materials
Raw materials inventory shows a significant increase from 33,806 thousand US dollars in 2020 to 128,142 thousand in 2023. However, the figures decline notably in 2024 and 2025, falling back to 70,183 thousand. This suggests a reduction in raw material stockholding after the 2023 peak.
Work in Process
Work in process inventory experiences steady growth with values rising from 443,690 thousand US dollars in 2020 to 1,125,819 thousand in 2023. Despite a slight dip in 2024 to 1,047,022 thousand, it reaches the highest reported level of 1,218,625 thousand in 2025.
Finished Goods
Finished goods also increase from 130,764 thousand US dollars in 2020 to 388,253 thousand in 2023. A temporary decline occurs in 2024 to 307,057 thousand but rebounds to 367,515 thousand in 2025, indicating possible variations in sales or production scheduling.
Inventory Composition
Work in process consistently represents the largest component of total inventories, accounting for a growing share across the period. Finished goods and raw materials exhibit more fluctuation, with raw materials peaking earlier and then declining, suggesting adjustments in procurement strategies or production cycles.