Analysis of Inventory
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- Income Statement
- Statement of Comprehensive Income
- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- Dividend Discount Model (DDM)
- Total Asset Turnover since 2005
- Price to Sales (P/S) since 2005
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Inventory Disclosure
Analog Devices Inc., balance sheet: inventory
US$ in thousands
| Nov 2, 2024 | Oct 28, 2023 | Oct 29, 2022 | Oct 30, 2021 | Oct 31, 2020 | Nov 2, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Raw materials | |||||||||||||
| Work in process | |||||||||||||
| Finished goods | |||||||||||||
| Inventories |
Based on: 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), 10-K (reporting date: 2019-11-02).
The data exhibits significant growth in inventory-related accounts over the analyzed periods, particularly from the fiscal year ending in 2019 through 2023, followed by a noticeable adjustment in 2024.
- Raw Materials
- The raw materials inventory showed initial stability with a slight decline from 35,447 thousand USD in 2019 to 33,806 thousand USD in 2020. Subsequently, it experienced a substantial increase, peaking at 128,142 thousand USD in 2023. However, in 2024, raw materials inventory declined sharply to 93,608 thousand USD, indicating either improved inventory management, reduced procurement, or usage changes.
- Work in Process
- Work in process inventory consistently increased from 400,409 thousand USD in 2019 to a high of 1,125,819 thousand USD in 2023. The following year, it slightly decreased to 1,047,022 thousand USD. This trend implies an expansion in ongoing production activities through 2023 with some reduction thereafter, which may reflect adjustments in production efficiency or sales forecasts.
- Finished Goods
- Finished goods inventory followed a similar growth pattern, starting at 174,030 thousand USD in 2019, nearly doubling to 270,344 thousand USD by 2021, and further rising to 388,253 thousand USD in 2023. The value then decreased to 307,057 thousand USD in 2024. This may suggest accumulated stock in prior years followed by efforts to draw down finished goods inventory recently.
- Total Inventories
- Inventories in aggregate approximately doubled from 609,886 thousand USD in 2019 to 1,642,214 thousand USD in 2023, reflecting a broad buildup across all inventory categories. In 2024, total inventories declined to 1,447,687 thousand USD, which corroborates the general pattern of inventory reduction seen in individual components towards that period.
Overall, the inventory data reveals a clear trend of aggressive inventory growth over the initial years, likely tied to expansion and scaling, followed by a moderating or consolidation phase in the latest year. This pattern might indicate adapting operational or market conditions, a strategic inventory management response, or changes in demand expectations.