Common-Size Balance Sheet: Assets
Analog Devices Inc., common-size consolidated balance sheet: assets
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).
- Cash and Cash Equivalents
- There is a general decreasing trend in cash and cash equivalents as a percentage of total assets from 4.92% in 2020 to 1.96% in 2023, followed by a notable recovery in 2024 and 2025 to 4.13% and 5.21% respectively. This suggests a reduction in liquid assets initially, with an increased liquidity position in the latter years.
- Short-term Investments
- Short-term investments were not reported from 2020 to 2023 but appeared at 0.77% in 2024 and increased to 2.4% in 2025. This indicates a new or renewed focus on marketable securities or temporary investments in recent years.
- Accounts Receivable less Allowances
- Accounts receivable as a percentage of total assets has fluctuated moderately, decreasing from 3.44% in 2020 to 2.79% in 2021, then rising to 3.58% in 2022, and gradually declining again to 2.99% in 2025. This variability suggests changing credit sales or collection periods, but generally within a narrow band.
- Inventories
- Inventory levels relative to total assets show some volatility, declining from 2.83% in 2020 to 2.29% in 2021, but increasing steadily thereafter to 3.45% in 2025. The rising trend may indicate accumulation of stock or adjustments in inventory management in response to business conditions.
- Prepaid Expenses and Other Current Assets
- Prepaid expenses and other current assets increased significantly from 0.54% in 2020 to 1.42% in 2021, subsequently stabilizing around 0.7% in later years. This pattern implies an initial rise in prepaid costs or similar assets, with relatively consistent levels thereafter.
- Current Assets
- Current assets as a percentage of total assets decreased from 11.73% in 2020 to 8.98% in 2023, then rose sharply to 14.81% by 2025. The increase in recent years may be linked to higher cash, short-term investments, and other current asset components.
- Net Property, Plant and Equipment
- Net PP&E exhibited a fluctuating upward trend, starting at 5.22% in 2020, dipping to 3.78% in 2021, and increasing appreciably to a peak of 7.08% in 2024 before slightly declining to 6.91% in 2025. This trend points to increased investment in fixed assets or capital expenditure.
- Goodwill
- Goodwill constitutes a substantial proportion of total assets, declining from 57.19% in 2020 to a low of 51.45% in 2021 but rising again to around 56% by 2025. The relative stability at a high percentage suggests a consistent basis of acquired intangible value contributing to the asset base.
- Intangible Assets, Net
- Intangible assets decreased markedly over the period, from 17.00% in 2020 to 16.70% in 2025, with a peak at 29.18% in 2021 followed by a steady decline thereafter. This downward trend could reflect amortization, impairment, or strategic shifts impacting intangible asset valuation.
- Deferred Tax Assets
- Deferred tax assets declined progressively from 7.00% in 2020 to 3.89% in 2025, indicating a reduction in recognized tax benefits or timing differences in asset recognition.
- Other Assets
- Other assets remained relatively stable at low levels, ranging between 0.98% and 1.55% throughout the years, suggesting minor fluctuations in miscellaneous non-current assets.
- Non-current Assets
- Non-current assets as a proportion of total assets increased slightly from 88.27% in 2020 to a high of 91.02% in 2023, then declined to 85.19% in 2025. This indicates a long-term asset base dominance with some recent reduction, perhaps due to increases in current assets.
- Total Assets
- The total assets consistently represent 100% across all years, serving as the reference point for all relative percentage calculations.