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.
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Analog Devices Inc., consolidated balance sheet: assets (quarterly data)
US$ in thousands
Based on: 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
- Over the periods observed, cash and cash equivalents generally increased, peaking notably in late 2021 and maintaining a high level through early 2025, with minor fluctuations. The values rose from approximately $606 million in early 2019 to over $2.3 billion by early 2025, indicating a significant enhancement in liquidity.
- Short-term investments
- Short-term investments data is available only from early 2024, showing moderate amounts around $370 million to $440 million. The limited data prevents identifying long-term trends, but the figures suggest a stable holding in short-term investments during this period.
- Accounts receivable
- Accounts receivable exhibited fluctuations with a clear upward trend from early 2019 through early 2022, peaking at over $1.6 billion, followed by variability and some decline towards mid-2024, but still remaining above $1.1 billion. This pattern reflects an increase in sales or credit extended that later moderated.
- Inventories
- Inventory levels generally rose from $593 million in early 2019 to a peak near $1.7 billion in mid-2023, with occasional fluctuations. Toward early 2025, inventories stabilized around $1.5 billion. This suggests expanded stockholding, possibly supporting increased sales or anticipated demand.
- Prepaid expenses and other current assets
- Prepaid expenses and other current assets grew substantially, experiencing a sharp increase around late 2021 to early 2022, followed by fluctuations but remaining elevated compared to earlier periods. This shift indicates changes in payment timing or advances tied to operational needs.
- Current assets
- Current assets overall expanded considerably from about $1.98 billion in early 2019 to a peak of approximately $5.7 billion by early 2024, exhibiting consistency with rises in cash, receivables, and inventory. A slight decline toward mid-2025 suggests a tightening or rebalancing of short-term resources.
- Net property, plant and equipment
- Net PPE showed a general upward trend with some plateaus, increasing from around $1.18 billion in early 2019 to over $3.3 billion by mid-2024, but with a mild decline noted toward early 2025. This pattern reflects ongoing capital investment with recent possible depreciation or asset disposals.
- Goodwill
- Goodwill remained relatively stable near $12.25 billion through early 2021, then jumped significantly to about $26.9 billion by late 2021 and held steady thereafter. This step change indicates a major acquisition or reclassification affecting intangible asset values.
- Intangible assets, net
- Intangible assets exhibited a steady decrease from approximately $4.6 billion in early 2019 to about $8.8 billion in early 2025. Despite the overall decline, the absolute values remained substantial, indicating amortization or impairment effects, partially offset by additions.
- Deferred tax assets
- Deferred tax assets gradually declined from roughly $1.63 billion in early 2019 to about $1.98 billion in early 2025, reflecting ongoing adjustments to tax-related accounting balances consistent with changes in profitability and asset base.
- Other assets
- Other assets rose from approximately $141 million in early 2019 to a peak of $742 million by late 2023, evidencing steady growth. A slight decrease toward early 2025 suggests some reclassification or disposal of less liquid holdings in this category.
- Non-current assets
- Non-current assets decreased gradually from nearly $19.8 billion in early 2019 to about $41.8 billion in early 2025, reflecting a substantial upward shift around late 2021 linked to goodwill and intangible assets changes. The timeline includes both decreases and significant increases, indicative of asset revaluations or acquisitions.
- Total assets
- Total assets remained relatively flat near $21.8 billion until late 2021, after which a major increase brought total assets above $47 billion through early 2025. This substantial increase is largely driven by growth in both current and non-current assets, particularly goodwill and intangible assets, implying strategic expansion and acquisitions.