Stock Analysis on Net

Analog Devices Inc. (NASDAQ:ADI)

Balance Sheet: Assets 
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Analog Devices Inc., consolidated balance sheet: assets (quarterly data)

US$ in thousands

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Aug 2, 2025 May 3, 2025 Feb 1, 2025 Nov 2, 2024 Aug 3, 2024 May 4, 2024 Feb 3, 2024 Oct 28, 2023 Jul 29, 2023 Apr 29, 2023 Jan 28, 2023 Oct 29, 2022 Jul 30, 2022 Apr 30, 2022 Jan 29, 2022 Oct 30, 2021 Jul 31, 2021 May 1, 2021 Jan 30, 2021 Oct 31, 2020 Aug 1, 2020 May 2, 2020 Feb 1, 2020 Nov 2, 2019 Aug 3, 2019 May 4, 2019 Feb 2, 2019
Cash and cash equivalents 2,321,191 2,376,235 2,349,994 1,991,342 2,106,032 1,939,695 1,303,560 958,061 1,149,246 1,177,609 1,670,462 1,470,572 1,524,960 1,737,733 1,790,399 1,977,964 1,480,701 1,305,216 1,048,063 1,055,860 1,090,264 784,937 654,408 648,322 612,164 713,601 605,864
Short-term investments 1,148,096 371,460 371,822 439,667 424,117
Accounts receivable 1,553,259 1,382,365 1,192,442 1,336,331 1,127,158 1,004,628 1,196,721 1,469,734 1,616,243 1,616,256 1,629,870 1,800,462 1,742,646 1,608,254 1,636,928 1,459,056 823,163 814,135 826,964 737,536 681,728 588,244 584,366 635,136 689,976 685,978 713,730
Inventories 1,596,853 1,524,897 1,474,656 1,447,687 1,427,936 1,479,081 1,553,221 1,642,214 1,709,313 1,648,136 1,522,942 1,399,914 1,203,394 1,075,297 972,571 1,200,610 657,520 641,202 618,640 608,260 612,646 590,268 588,503 609,886 638,305 608,085 593,211
Prepaid expenses and other current assets 305,170 305,040 344,524 337,472 342,143 346,100 362,375 314,013 360,383 302,919 338,226 267,044 218,708 212,905 236,797 740,687 129,071 142,247 131,074 116,032 100,599 87,844 83,902 91,782 66,613 72,825 72,375
Current assets 6,924,569 5,588,537 5,733,076 5,484,654 5,442,936 5,193,621 4,415,877 4,384,022 4,835,185 4,744,920 5,161,500 4,937,992 4,689,708 4,634,189 4,636,695 5,378,317 3,090,455 2,902,800 2,624,741 2,517,688 2,485,237 2,051,293 1,911,179 1,985,126 2,007,058 2,080,489 1,985,180
Net property, plant and equipment 3,299,278 3,336,128 3,355,240 3,415,550 3,395,748 3,415,220 3,281,937 3,219,157 2,922,781 2,742,016 2,524,655 2,401,304 2,180,048 2,094,148 2,037,290 1,979,051 1,173,674 1,160,586 1,129,214 1,120,561 1,134,236 1,189,332 1,206,769 1,219,989 1,221,192 1,211,467 1,181,735
Goodwill 26,945,180 26,945,180 26,945,180 26,909,775 26,909,775 26,909,775 26,913,134 26,913,134 26,913,134 26,913,134 26,913,134 26,913,134 26,920,335 26,923,756 26,940,594 26,918,470 12,278,898 12,282,465 12,282,751 12,278,425 12,273,799 12,253,670 12,257,064 12,256,880 12,247,888 12,250,370 12,253,891
Intangible assets, net 8,402,630 8,787,380 9,183,038 9,585,464 9,997,707 10,434,776 10,871,054 11,311,957 11,762,655 12,261,693 12,763,229 13,265,406 13,764,444 14,258,728 14,762,722 15,267,170 3,248,802 3,393,546 3,535,475 3,650,280 3,796,932 3,928,902 4,073,078 4,217,224 4,346,377 4,489,182 4,631,697
Deferred tax assets 1,925,442 1,985,591 2,032,676 2,083,752 2,105,430 2,146,321 2,172,174 2,223,272 2,224,880 2,248,858 2,267,178 2,264,888 2,297,122 2,325,317 2,317,301 2,267,269 1,425,293 1,448,018 1,466,489 1,503,064 1,522,772 1,553,902 1,567,521 1,582,382 1,606,267 1,610,109 1,634,719
Other assets 695,502 701,671 718,336 749,082 766,778 762,153 734,288 742,936 688,104 634,118 604,824 519,626 494,513 564,514 521,012 511,794 424,068 400,802 401,440 398,585 386,592 373,839 361,216 131,040 137,868 134,708 141,056
Non-current assets 41,268,032 41,755,950 42,234,470 42,743,623 43,175,438 43,668,245 43,972,587 44,410,456 44,511,554 44,799,819 45,073,020 45,364,358 45,656,462 46,166,463 46,578,919 46,943,754 18,550,735 18,685,417 18,815,369 18,950,915 19,114,331 19,299,645 19,465,648 19,407,515 19,559,592 19,695,836 19,843,098
Total assets 48,192,601 47,344,487 47,967,546 48,228,277 48,618,374 48,861,866 48,388,464 48,794,478 49,346,739 49,544,739 50,234,520 50,302,350 50,346,170 50,800,652 51,215,614 52,322,071 21,641,190 21,588,217 21,440,110 21,468,603 21,599,568 21,350,938 21,376,827 21,392,641 21,566,650 21,776,325 21,828,278

Based on: 10-Q (reporting date: 2025-08-02), 10-Q (reporting date: 2025-05-03), 10-Q (reporting date: 2025-02-01), 10-K (reporting date: 2024-11-02), 10-Q (reporting date: 2024-08-03), 10-Q (reporting date: 2024-05-04), 10-Q (reporting date: 2024-02-03), 10-K (reporting date: 2023-10-28), 10-Q (reporting date: 2023-07-29), 10-Q (reporting date: 2023-04-29), 10-Q (reporting date: 2023-01-28), 10-K (reporting date: 2022-10-29), 10-Q (reporting date: 2022-07-30), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-29), 10-K (reporting date: 2021-10-30), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-05-01), 10-Q (reporting date: 2021-01-30), 10-K (reporting date: 2020-10-31), 10-Q (reporting date: 2020-08-01), 10-Q (reporting date: 2020-05-02), 10-Q (reporting date: 2020-02-01), 10-K (reporting date: 2019-11-02), 10-Q (reporting date: 2019-08-03), 10-Q (reporting date: 2019-05-04), 10-Q (reporting date: 2019-02-02).


Cash and cash equivalents
The cash and cash equivalents show a general upward trend, increasing from approximately 606 million USD in early 2019 to around 2.3 billion USD by mid-2025. Notable spikes occur around mid-2021 and continue with fluctuations thereafter, indicating an overall strengthening liquidity position over the period.
Short-term investments
Data on short-term investments are sparse, with values only appearing from early 2024 onwards. In this period, values rose from about 424 million USD to over 1.1 billion USD, indicating a growing allocation of liquid resources into short-term investment vehicles.
Accounts receivable
Accounts receivable exhibit volatility across the timeline, starting at around 714 million USD in early 2019, peaking at over 1.8 billion USD in early 2021, and then declining again with fluctuations. By mid-2025, the balance is approximately 1.55 billion USD, reflecting variability in credit sales or collection efficiency.
Inventories
Inventories steadily increased from approximately 593 million USD in early 2019 to a peak near 1.7 billion USD in late 2023. After this peak, inventory levels show a slight decrease and then a moderate rebound, suggesting adjustments in stock management or demand forecasts during this timeframe.
Prepaid expenses and other current assets
This category shows considerable volatility, with a notable spike from mid-2020 to early 2022, where values jumped from about 100 million USD to over 700 million USD, before stabilizing around 300 million USD in subsequent periods. This suggests changes in prepaid cost recognition or current asset classifications during this interval.
Current assets
Current assets exhibit strong growth over the timeline, nearly tripling from approximately 1.98 billion USD in early 2019 to over 5.7 billion USD in early 2025. This increase supports the notion of improved liquidity and working capital availability over the analyzed periods.
Net property, plant and equipment (PP&E)
Net PP&E shows modest declines in the early periods, approximately from 1.18 billion USD to 1.13 billion USD through 2020, followed by a marked increase to over 3.3 billion USD by early 2025. This reflects increased capital investment or asset revaluation activity in recent years.
Goodwill
Goodwill remains largely stable at around 12.25 billion USD through late 2021 but then jumps significantly to approximately 26.9 billion USD, maintaining that elevated level through 2025. This substantial increase may indicate an acquisition or reassessment of intangible asset values.
Intangible assets, net
Intangible assets decrease steadily from about 4.63 billion USD in early 2019 to approximately 8.4 billion USD by mid-2025. The trend mainly reflects amortization or impaired value recognition balanced by increased intangible asset valuations post-2021.
Deferred tax assets
Deferred tax assets demonstrate a slow but steady decline from roughly 1.63 billion USD in early 2019 to about 1.9 billion USD in mid-2025, indicating changes in taxable temporary differences or valuation allowances over the period.
Other assets
Other assets generally trend upwards, starting near 141 million USD in early 2019 and rising to a range between 695 million and 760 million USD in recent periods, reflecting diversification or increased recognition of miscellaneous asset classes.
Non-current assets
Non-current assets decline steadily from approximately 19.8 billion USD at the beginning of 2019 to about 41.3 billion USD by mid-2025. The data suggests a realignment in long-term asset holdings, potentially influenced by acquisitions, disposals, or reclassifications.
Total assets
Total assets remain relatively stable throughout the period, hovering around 21.8 billion USD initially, with a substantial increase after 2021 peaking at about 52.3 billion USD, and then slightly declining near 48 billion USD by mid-2025. This pattern likely reflects a major acquisition event, expansion, or revaluation impacting the overall asset base.

Assets: Selected Items


Current Assets: Selected Items