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. pages available for free this week:
- Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Geographic Areas
- Enterprise Value (EV)
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
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Analog Devices Inc., consolidated balance sheet: assets (quarterly data)
US$ in thousands
Based on: 10-Q (reporting date: 2026-05-02), 10-Q (reporting date: 2026-01-31), 10-K (reporting date: 2025-11-01), 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).
The asset structure of the organization underwent a fundamental transformation between early 2020 and mid-2026, characterized by a massive expansion in the balance sheet size driven by a significant acquisition event and a steady increase in operational working capital.
- Acquisition and Intangible Asset Dynamics
- A substantial leap in total assets occurred in October 2021, where total assets rose from approximately 21.6 billion to 52.3 billion. This surge was primarily driven by Goodwill, which increased from 12.2 billion to 26.9 billion, and Net Intangible Assets, which jumped from 3.2 billion to 15.2 billion. Following this peak, intangible assets have exhibited a consistent downward trend due to amortization, declining to 7.2 billion by May 2026, while goodwill remained relatively stable.
- Liquidity and Cash Management
- Cash and cash equivalents demonstrated a long-term growth trajectory, rising from 654 million in February 2020 to a peak of 2.9 billion in January 2026. The introduction of short-term investments starting in May 2024 further augmented the company's liquid position, with these holdings reaching 1.1 billion by mid-2025. This indicates a strengthened liquidity profile and an increased capacity for strategic investment or debt servicing.
- Working Capital Trends
- Operational assets showed significant growth over the analyzed period. Accounts receivable grew from 584 million in February 2020 to 2.05 billion by May 2026, reflecting an expansion in sales volume or changes in credit terms. Similarly, inventories saw a steady increase from 588 million to 1.8 billion, suggesting a strategic buildup of stock or a response to supply chain volatility and increased production scale.
- Fixed Asset Investment
- Net property, plant, and equipment (PPE) exhibited a sustained upward trend, increasing from 1.2 billion in February 2020 to approximately 3.3 billion by May 2026. This represents nearly a threefold increase in the company's investment in productive capacity and infrastructure, supporting the scale of operations required post-acquisition.
- Total Asset Trajectory
- After the primary expansion in late 2021, total assets entered a period of gradual consolidation. From a peak of 52.3 billion, total assets trended downward to approximately 47.9 billion by May 2026. This decline is largely attributable to the systematic amortization of intangible assets, which offset the gains made in cash reserves, receivables, and fixed assets.