Common-Size Income Statement
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- Analysis of Geographic Areas
- Price to FCFE (P/FCFE)
- Selected Financial Data since 2005
- Operating Profit Margin since 2005
- Debt to Equity since 2005
- Price to Earnings (P/E) since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
- Price to Sales (P/S) since 2005
- Aggregate Accruals
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Analog Devices Inc., common-size consolidated income statement
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).
- Revenue and Cost of Sales
- Revenue remained constant at 100% across all periods, serving as the base for other financial percentages. The cost of sales as a percentage of revenue showed fluctuations, increasing from -33% in 2019 to a peak of -42.92% in 2024. This rise indicates a growing share of costs relative to revenue, particularly noticeable in the last recorded year.
- Gross Margin
- Gross margin steadily declined over the period, dropping from 67% of revenue in 2019 to 57.08% in 2024. This decline reflects increased cost pressure on gross profits, aligned with the rising cost of sales.
- Research and Development (R&D)
- Investment in research and development as a percentage of revenue decreased from -18.87% in 2019 to a low of -13.49% in 2023 but rose again to -15.78% in 2024. The trend suggests a reduction in R&D intensity until 2023, followed by a moderate increase in the final year.
- Selling, Marketing, General and Administrative Expenses (SG&A)
- SG&A expenses showed minor variation, fluctuating between approximately -10.35% and -12.51% of revenue. The lowest percentage was recorded in 2023, indicating some operational efficiency improvements during that year, but expenses increased again to -11.34% in 2024.
- Amortization of Intangibles
- The amortization of intangibles remained relatively stable, ranging between -7.16% and -8.43% of revenue. The highest percentage was observed in 2022. Overall, this cost component maintained a consistent share of revenue.
- Special Charges, Net
- Special charges showed variable patterns, with a low of -0.4% in 2024 and a high of -2.28% in 2022. The values suggest sporadic one-time costs impacting operating results, generally remaining low in magnitude.
- Operating Expenses
- Total operating expenses as a percentage of revenue declined from -38.44% in 2019 to -32.95% in 2023, then rose again to -35.52% in 2024. This indicates an overall improvement in operating cost control until 2023, followed by a slight increase in 2024.
- Operating Income
- Operating income exhibited a downward trend from 28.55% in 2019 to a low of 21.56% in 2024, with a peak of 31.07% in 2023. The fluctuations suggest variability in profitability, with operating income improving notably in 2022 and 2023 before declining again.
- Interest Expense and Income
- Interest expense decreased from -3.82% in 2019 to a low of -1.67% in 2022 but increased again to -3.42% in 2024, indicating changing debt service costs. Interest income was minimal throughout but increased in the final two years, reaching 0.84% in 2024, slightly mitigating net interest costs.
- Loss on Extinguishment of Debt
- Loss on extinguishment of debt was only recorded in 2021, at -2.94%, impacting that year's nonoperating results.
- Other Nonoperating Items and Overall Nonoperating Income/Expenses
- Other nonoperating income and expenses fluctuated close to zero, with both positive and negative values. Nonoperating income (expenses) improved overall from -3.75% in 2019 to a low of -1.5% in 2022 but worsened to -2.71% in 2024.
- Income Before Income Taxes
- Income before income taxes trended downward from 24.8% in 2019 to 18.85% in 2024, despite a recovery to 29.32% in 2023. This indicates variability in pre-tax profitability, affected by the changes in operating and nonoperating items.
- Provision for Income Taxes
- The provision for income taxes as a percentage of revenue fluctuated, showing a positive benefit from income taxes (i.e. tax income) of 0.84% in 2021, contrasted with tax expenses in other years ranging between -1.51% and -2.91%. This indicates variation in tax rates or benefits over the periods.
- Net Income
- Net income followed a declining pattern, reducing from 22.75% in 2019 to 17.35% in 2024. The highest net income percentage was recorded in 2023 at 26.94%, consistent with peaks in operating and pre-tax income, before a subsequent decline.