Stock Analysis on Net

Analog Devices Inc. (NASDAQ:ADI)

$24.99

Analysis of Geographic Areas

Microsoft Excel

Area Asset Turnover

Analog Devices Inc., asset turnover by geographic area

Microsoft Excel
Nov 1, 2025 Nov 2, 2024 Oct 28, 2023 Oct 29, 2022 Oct 30, 2021 Oct 31, 2020
United States
Foreign regions

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).


United States Asset Turnover
The asset turnover ratio in the United States exhibited notable fluctuations over the observed periods. Initially, there was a decline from 3.26 to 2.5 between 2020 and 2021, followed by a recovery to 3.6 in 2022. Subsequent years saw a downward trend, reaching a low of 1.49 in 2024, before a slight improvement to 1.77 in 2025. Overall, the ratio demonstrates volatility with a general decreasing tendency in the later years.
Foreign Regions Asset Turnover
The asset turnover ratio for foreign regions similarly showed variability but remained higher compared to the United States in most periods. After a drop from 6.87 in 2020 to 4.82 in 2021, it rebounded to 6.22 in 2022. Following this peak, the ratio declined steadily to 4.37 in 2024, then experienced a moderate increase to 5.25 in 2025. Despite some fluctuation, the turnover demonstrates a generally higher efficiency abroad compared to the domestic market.
Comparative Insights
The foreign regions consistently outperformed the United States in asset turnover ratios throughout the observed timeframe. The pronounced decline in the U.S. ratios post-2022 contrasts with the relatively steadier performance abroad. This suggests potential differences in operational efficiency or market conditions between geographic segments.

Area Asset Turnover: United States

Analog Devices Inc.; United States; area asset turnover calculation

Microsoft Excel
Nov 1, 2025 Nov 2, 2024 Oct 28, 2023 Oct 29, 2022 Oct 30, 2021 Oct 31, 2020
Selected Financial Data (US$ in thousands)
Revenue
Property, plant and equipment
Area Activity Ratio
Area asset turnover1

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).

1 2025 Calculation
Area asset turnover = Revenue ÷ Property, plant and equipment
= ÷ =


Revenue Trends
The revenue exhibited a generally increasing trend from 2020 to 2023, starting at approximately 1.89 billion and peaking at about 4.17 billion in 2023. However, there was a notable decline in 2024, with revenue dropping to approximately 2.84 billion, followed by a slight recovery reaching around 3.24 billion in 2025.
Property, Plant and Equipment (PP&E) Trends
The value of property, plant, and equipment showed consistent growth over the observed period. From an initial value of approximately 580 million in 2020, the asset base expanded to about 1.58 billion by 2024, with a marginal decrease to around 1.83 billion in 2025. This indicates continued investment in fixed assets, although the slight decrease in 2025 suggests possible divestitures or revaluation.
Area Asset Turnover Ratio Trends
The area asset turnover ratio, an efficiency metric reflecting revenue generated per unit of fixed assets, showed fluctuations across the years. Beginning at 3.26 in 2020, it declined to 2.5 in 2021, rebounded to 3.6 in 2022, and then decreased again to 2.64 in 2023. A more pronounced decline occurred in 2024 to 1.49, with a modest increase to 1.77 in 2025. These movements suggest variability in how effectively assets are being utilized to generate revenue within the United States geographic segment.
Insights and Interpretation
The data suggests a period of significant growth in revenue and asset base through 2023, followed by a decline in revenue and asset turnover efficiency in the latest years. The expansion of property, plant, and equipment implies substantial capital investments that may have initially improved capacity but later encountered challenges in utilization efficiency. The decline in revenue in 2024 and the drop in area asset turnover ratio highlight a potential decrease in operational efficiency or market conditions affecting performance in the United States area. The slight recovery in 2025 revenue and turnover ratio may indicate early signs of stabilization or adjustment.

Area Asset Turnover: Foreign regions

Analog Devices Inc.; Foreign regions; area asset turnover calculation

Microsoft Excel
Nov 1, 2025 Nov 2, 2024 Oct 28, 2023 Oct 29, 2022 Oct 30, 2021 Oct 31, 2020
Selected Financial Data (US$ in thousands)
Revenue
Property, plant and equipment
Area Activity Ratio
Area asset turnover1

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).

1 2025 Calculation
Area asset turnover = Revenue ÷ Property, plant and equipment
= ÷ =


Revenue
Over the observed periods, revenue exhibited notable fluctuations. Starting from approximately 3.7 billion USD, revenue increased significantly to nearly 8.15 billion USD by the fourth period. However, this was followed by a decline to about 6.59 billion USD in the fifth period. The most recent figure shows a recovery to approximately 7.78 billion USD. This pattern suggests a strong growth trend up to the fourth period, succeeded by volatility, with partial recovery in the latest year.
Property, Plant and Equipment (PP&E)
The investment in property, plant, and equipment demonstrated consistent growth from the first to the fourth period, rising from roughly 541 million USD to over 1.64 billion USD. Subsequently, a slight decrease occurred in the fifth and sixth periods, with values around 1.51 billion and 1.48 billion USD, respectively. This indicates an initial phase of capital expansion, possibly to support increasing operations or capacity, followed by a cautious reduction or stabilization in capital assets.
Area Asset Turnover
The area asset turnover ratio declined overall during the timeframe. Beginning at 6.87, the ratio dipped notably to 4.82 in the second period, rebounded partially to 6.22 in the third, then decreased again to its lowest levels of 4.37 by the fifth period before rising slightly to 5.25 in the sixth. The lower levels compared to the start suggest reduced efficiency in generating revenue from assets in certain periods, although some recovery is evident towards the end. This trend might reflect the impacts of capital asset changes and operational shifts.

Revenue

Analog Devices Inc., revenue by geographic area

US$ in thousands

Microsoft Excel
Nov 1, 2025 Nov 2, 2024 Oct 28, 2023 Oct 29, 2022 Oct 30, 2021 Oct 31, 2020
United States
Foreign regions
Total

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).


The revenue data over the analyzed periods reveals notable trends in geographic segment contributions. Overall, total revenue exhibits significant growth from the earliest period to the peak period before a decline and partial recovery in the latest years.

United States Revenue
There is a marked upward trajectory in revenue generated from the United States from the start through the fourth period, increasing from approximately 1.89 billion USD to over 4.16 billion USD. This represents more than a doubling of revenue over this timeframe. However, the subsequent two periods show a decline in U.S. revenue, dropping to roughly 2.84 billion USD before experiencing a modest rebound to about 3.24 billion USD. This pattern suggests an initial strong expansion followed by a contraction and partial stabilization.
Foreign Regions Revenue
Revenue from foreign regions demonstrates a consistent growth pattern through the first four periods, rising from about 3.72 billion USD to over 8.14 billion USD. The international segment generally outpaces the U.S. revenue in absolute terms, indicating stronger or broader growth in these markets. Similar to the U.S. segment, foreign revenue declines in the fifth period to approximately 6.59 billion USD but then recovers somewhat to around 7.78 billion USD in the latest period. The volatility in this segment may reflect external global economic factors or market-specific challenges.
Total Revenue
The aggregate revenue follows the trends observed in the individual geographic components, reaching a peak of approximately 12.31 billion USD in the fourth period. Following this peak, total revenue declines by roughly 23% before increasing again in the final period under review. This fluctuation highlights that while growth was strong initially, the company faced a period of downturn with some recovery near the end of the timeframe.

In summary, the data reflects a robust growth phase in both U.S. and foreign revenues through the early to middle periods, followed by a notable decline and subsequent partial recovery. The international segment consistently contributes a larger share of revenue compared to the U.S. market. The observed revenue downturn and recovery path may warrant further investigation into underlying market or operational factors driving these changes.


Property, plant and equipment

Analog Devices Inc., property, plant and equipment by geographic area

US$ in thousands

Microsoft Excel
Nov 1, 2025 Nov 2, 2024 Oct 28, 2023 Oct 29, 2022 Oct 30, 2021 Oct 31, 2020
United States
Foreign regions
Total

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).


The property, plant, and equipment (PP&E) data across geographic areas from fiscal years 2020 to 2025 exhibit several notable trends. Overall, the total PP&E value increases substantially from 1,120,561 thousand US dollars in 2020 to a peak of 3,415,550 thousand US dollars in 2024, before slightly declining to 3,315,696 thousand US dollars in 2025.

United States
The PP&E value in the United States shows consistent growth from 579,755 thousand US dollars in 2020 to a high of 1,907,527 thousand US dollars in 2024. However, in 2025 there is a slight reduction to 1,832,598 thousand US dollars, indicating a modest contraction after several years of expansion.
Foreign Regions
Foreign regions similarly demonstrate growth from 540,806 thousand US dollars in 2020 to 1,641,243 thousand US dollars in 2023. Unlike the United States, the peak occurs a year earlier, followed by a decline in 2024 to 1,508,023 thousand US dollars and a further small decrease to 1,483,098 thousand US dollars in 2025. This decline suggests a reduction or revaluation in international asset investments or disposals following steady growth.
Total
The combined total follows an increasing trajectory consistent with the components, nearly tripling over the six-year period to 3,415,550 thousand US dollars in 2024. The subsequent decline to 3,315,696 thousand US dollars in 2025 reflects the combined effect of reductions in both the U.S. and foreign regions, signifying a potential strategic adjustment in capital asset holdings at a global level.

In summary, the data reflect strong capital investment and asset accumulation through 2023 and 2024 in both domestic and international markets, with a slight pullback in 2025 that affects both segments. The earlier peak and earlier onset of decline in foreign regions compared to the United States suggests a possible shift in geographic focus or asset management strategy. Overall, the PP&E growth indicates ongoing capacity enhancement followed by a recent period of consolidation or optimization.