Analysis of Geographic Areas
Analog Devices Inc. operates in 2 regions: United States and Foreign countries.
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Area Asset Turnover
Analog Devices Inc., asset turnover by geographic area
| Nov 2, 2024 | Oct 28, 2023 | Oct 29, 2022 | Oct 30, 2021 | Oct 31, 2020 | Nov 2, 2019 | |
|---|---|---|---|---|---|---|
| United States | ||||||
| Foreign countries |
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).
- United States Asset Turnover
-
The asset turnover ratio in the United States exhibits a decreasing trend over the observed periods. Starting from a ratio of 3.41 in November 2019, it slightly declined to 3.26 by October 2020. A more notable drop occurred by October 2021 to 2.5, followed by a temporary increase to 3.6 in October 2022. Subsequently, the ratio decreased again to 2.64 in October 2023, reaching the lowest value of 1.49 in November 2024. This overall downward trajectory suggests a diminishing efficiency in utilizing assets within the U.S. market over the six-year span, with a brief recovery in the 2022 period.
- Foreign Countries Asset Turnover
-
The asset turnover ratio in foreign countries also shows a general decline over the duration, but the trend is less volatile than in the U.S. It began at 6.33 in November 2019, increased slightly to 6.87 in October 2020, and then dropped to 4.82 by October 2021. While recovering moderately to 6.22 in October 2022, the ratio decreased again to 4.96 in October 2023 and further to 4.37 in November 2024. Despite the decrease, the foreign countries' turnover ratios remain consistently higher compared to the U.S. figures, indicating relatively better asset utilization internationally, although the downward movement signals reduced efficiency in recent years.
- Overall Insights
-
Both geographic segments experienced fluctuations with an overall downward trend in asset turnover ratios. The United States saw a sharper decline and greater variability, reflecting possible challenges in asset efficiency or operational shifts domestically. In contrast, foreign operations demonstrated a higher and more stable turnover ratio, though this too is trending downward, which may warrant further investigation into international asset management strategies. The data suggests a need to address factors that could be impacting asset utilization to improve financial performance in both markets.
Area Asset Turnover: United States
Analog Devices Inc.; United States; area asset turnover calculation
| Nov 2, 2024 | Oct 28, 2023 | Oct 29, 2022 | Oct 30, 2021 | Oct 31, 2020 | Nov 2, 2019 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Revenue | ||||||
| Property, plant and equipment | ||||||
| Area Activity Ratio | ||||||
| Area asset turnover1 | ||||||
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).
1 2024 Calculation
Area asset turnover = Revenue ÷ Property, plant and equipment
= ÷ =
- Revenue
- The revenue figures exhibit a fluctuating trend over the observed periods. Initially, revenue decreased from approximately 2.02 billion US dollars in 2019 to about 1.89 billion in 2020. This was followed by a notable increase to around 2.39 billion in 2021, and a sharp rise in 2022 to over 4 billion. The revenue remained relatively stable in 2023, with a slight increase to 4.16 billion, but then experienced a considerable decline in 2024 to approximately 2.84 billion.
- Property, Plant and Equipment (PP&E)
- The value of property, plant and equipment shows a consistent upward trajectory throughout the period. It started at roughly 593 million in 2019 and exhibited moderate growth up to 580 million in 2020. Thereafter, the asset base expanded significantly, reaching about 957 million in 2021, approximately 1.12 billion in 2022, 1.58 billion in 2023, and further increased to nearly 1.91 billion in 2024. This consistent increase suggests ongoing investment in fixed assets.
- Area Asset Turnover
- The asset turnover ratio, which measures the efficiency of asset usage to generate revenue, demonstrates considerable volatility. The ratio declined from 3.41 in 2019 to 3.26 in 2020, then dropped more steeply to 2.5 in 2021. In 2022, there was a recovery to 3.6, indicating improved efficiency. However, this ratio decreased again in subsequent years, falling to 2.64 in 2023 and further down to 1.49 in 2024. The declining trend in recent years signals reduced efficiency in leveraging property, plant, and equipment to generate revenue.
Area Asset Turnover: Foreign countries
Analog Devices Inc.; Foreign countries; area asset turnover calculation
| Nov 2, 2024 | Oct 28, 2023 | Oct 29, 2022 | Oct 30, 2021 | Oct 31, 2020 | Nov 2, 2019 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Revenue | ||||||
| Property, plant and equipment | ||||||
| Area Activity Ratio | ||||||
| Area asset turnover1 | ||||||
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).
1 2024 Calculation
Area asset turnover = Revenue ÷ Property, plant and equipment
= ÷ =
- Revenue Trend
- Revenue from foreign countries exhibited a fluctuating pattern over the six-year period. Initially, revenue decreased from approximately 3.97 billion USD in 2019 to about 3.72 billion USD in 2020. This was followed by a significant increase to 4.93 billion USD in 2021 and then a sharp rise to around 7.99 billion USD in 2022. Revenue peaked at approximately 8.14 billion USD in 2023, before declining to about 6.59 billion USD in 2024. The overall trend indicates substantial volatility with strong growth until 2023, succeeded by a notable downturn in the most recent year.
- Property, Plant and Equipment (PP&E) Trend
- The value of property, plant, and equipment in foreign countries showed a predominantly rising trend across the period. Starting at roughly 627 million USD in 2019, there was a decline to about 541 million USD in 2020, followed by a marked increase to over 1.02 billion USD in 2021. This upward trajectory continued with significant growth to approximately 1.28 billion USD in 2022 and further expansion to around 1.64 billion USD in 2023. However, there was a moderate reduction to about 1.51 billion USD in 2024. These figures reflect substantial capital investment and asset growth overseas with a minor contraction in the latest year.
- Area Asset Turnover Ratio
- The area asset turnover ratio experienced considerable variation throughout the timeline. Beginning at 6.33 in 2019, the ratio increased to a peak of 6.87 in 2020, indicating efficient utilization of assets to generate revenue in that year. Subsequently, the ratio declined sharply to 4.82 in 2021, rebounded to 6.22 in 2022, then decreased again to 4.96 in 2023 and further to 4.37 in 2024. Overall, this suggests fluctuating efficiency in asset utilization, with the general tendency towards lower turnover ratios in the more recent years, implying decreasing revenue generated per unit of foreign asset.
- Summary Insights
- The foreign operations exhibited strong growth in revenue and asset base until 2023, followed by a noticeable drop in revenue and slight contraction in asset investment in 2024. The asset turnover ratio's decline in recent years suggests that the increased asset base was not matched by proportional revenue growth, pointing to potential challenges in asset efficiency or market conditions abroad. These patterns highlight the importance of monitoring operational effectiveness and strategic asset management in the foreign geographic segment going forward.
Revenue
Analog Devices Inc., revenue by geographic area
US$ in thousands
| Nov 2, 2024 | Oct 28, 2023 | Oct 29, 2022 | Oct 30, 2021 | Oct 31, 2020 | Nov 2, 2019 | |
|---|---|---|---|---|---|---|
| United States | ||||||
| Foreign countries | ||||||
| Total |
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).
- United States Revenue Trend
- The revenue originating from the United States demonstrated a fluctuating pattern over the analyzed periods. Initially, there was a decline from 2,020,886 thousand US dollars in 2019 to 1,887,443 thousand in 2020. This was followed by a notable recovery and increase reaching 2,389,439 thousand in 2021. Subsequently, a significant upward surge occurred in 2022 and 2023, peaking at 4,165,296 thousand. However, in the most recent period from 2023 to 2024, the revenue contracted substantially to 2,840,426 thousand.
- Foreign Countries Revenue Trend
- Foreign revenue also exhibited overall growth with some variances. Starting at 3,970,179 thousand in 2019, there was a slight decrease to 3,715,613 thousand in 2020, followed by a steady rise through 2021 and 2022, reaching 7,988,555 thousand. The revenue from foreign countries remained relatively stable in 2023 at 8,140,243 thousand before decreasing to 6,586,731 thousand in 2024.
- Total Revenue Trend
- The total revenue trend mirrors the sum of the regional revenues, showing a general upward trajectory with occasional fluctuations. Total revenue decreased from 5,991,065 thousand in 2019 to 5,603,056 thousand in 2020. Thereafter, the figure increased significantly, peaking at 12,305,539 thousand in 2023. The latest period saw a decline to 9,427,157 thousand, representing a notable reduction from the previous peak.
- Comparative Insights
- Throughout the timeline, revenue from foreign countries consistently exceeded that of the United States. Both regions experienced declines during 2019 to 2020, possibly indicating external impacts affecting revenue streams across geographies. The period of 2021 to 2023 was characterized by robust growth, especially marked in the United States segment during 2022 and 2023. The downturn in 2024 appears across both regions and contributed substantially to the reduction in total revenue. This suggests potential common challenges impacting both domestic and international market performance in the most recent fiscal year.
Property, plant and equipment
Analog Devices Inc., property, plant and equipment by geographic area
US$ in thousands
| Nov 2, 2024 | Oct 28, 2023 | Oct 29, 2022 | Oct 30, 2021 | Oct 31, 2020 | Nov 2, 2019 | |
|---|---|---|---|---|---|---|
| United States | ||||||
| Foreign countries | ||||||
| Total |
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).
The data illustrates the annual value of property, plant, and equipment distributed between domestic (United States) and foreign geographic areas over a six-year period.
- United States
- The property, plant, and equipment value in the United States experienced a slight decline from 592,591 thousand USD in 2019 to 579,755 thousand USD in 2020. Following this, there was a marked increase each subsequent year, reaching 956,624 thousand USD in 2021 and continuing an upward trend to 1,117,404 thousand USD in 2022. The growth accelerated substantially in 2023, with a recorded value of 1,577,914 thousand USD, and further increased in 2024 to 1,907,527 thousand USD. This indicates a strong ongoing investment or expansion in domestic assets, particularly pronounced after 2020.
- Foreign countries
- Foreign property, plant, and equipment values showed a downward movement from 627,398 thousand USD in 2019 to 540,806 thousand USD in 2020, mirroring the initial domestic trend. Subsequently, the foreign segment saw a recovery and expansion, with values increasing to 1,022,427 thousand USD in 2021 and further to 1,283,900 thousand USD in 2022. The peak occurred in 2023 at 1,641,243 thousand USD; however, in 2024, there was a decline to 1,508,023 thousand USD. This suggests an initial growth phase followed by a slight contraction in foreign asset investments in the most recent year.
- Total
- The combined total property, plant, and equipment valuation reflects the aggregate of the two geographic areas and followed a similar trajectory. The total decreased marginally from 1,219,989 thousand USD in 2019 to 1,120,561 thousand USD in 2020. Thereafter, there was significant growth each year, more than doubling in size by 2021 at 1,979,051 thousand USD. Continued expansion occurred in 2022 and especially in 2023, when the total value reached 3,219,157 thousand USD. The growth stabilized somewhat in 2024 with the total amounting to 3,415,550 thousand USD.
Overall, the data indicates a general trend of considerable asset growth over the period, notably in the years following 2020. Domestic assets have consistently increased since 2020, suggesting focused investment within the United States. Foreign assets, while exhibiting growth after 2020, showed a recent downturn in the final year, possibly signifying strategic divestment or reallocation. The aggregate increase in property, plant, and equipment underscores an expansionary approach to capital assets, with a stronger emphasis apparent in domestic investments compared to foreign holdings in the latter years.