Liquidity ratios measure the company ability to meet its short-term obligations.
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Liquidity Ratios (Summary)
Nov 2, 2024 | Oct 28, 2023 | Oct 29, 2022 | Oct 30, 2021 | Oct 31, 2020 | Nov 2, 2019 | ||
---|---|---|---|---|---|---|---|
Current ratio | |||||||
Quick ratio | |||||||
Cash ratio |
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).
- Current ratio
- The current ratio exhibited a general upward trend from November 2019 through October 2022, increasing from 1.32 to a peak of 2.02. This suggests an improvement in short-term liquidity and a stronger ability to meet current liabilities with current assets during this period. However, there was a noticeable decline in October 2023, dropping to 1.37, indicating a weakening liquidity position. The ratio rebounded somewhat in November 2024 to 1.84, reflecting a partial recovery in liquidity strength.
- Quick ratio
- The quick ratio followed a somewhat similar pattern as the current ratio, showing improvement from 0.85 in November 2019 to 1.34 in October 2022. This indicates enhanced liquidity when excluding inventories, suggesting better immediate financial flexibility. Nevertheless, there was a sharp decline to 0.76 in October 2023, representing a potential concern in liquidity without inventories. By November 2024, the quick ratio increased again to 1.24, signaling some restoration of liquid asset coverage.
- Cash ratio
- The cash ratio also demonstrated an initial upward movement, rising from 0.43 in November 2019 to 0.77 in October 2020. Subsequently, it gradually decreased to 0.6 by October 2022 and further dropped significantly to 0.3 in October 2023. This downward trend points to a reduction in the most liquid assets relative to current liabilities, raising questions about immediate cash availability. However, by November 2024, the cash ratio increased sharply to 0.79, indicating a significant strengthening of cash reserves relative to short-term obligations.
Current Ratio
Nov 2, 2024 | Oct 28, 2023 | Oct 29, 2022 | Oct 30, 2021 | Oct 31, 2020 | Nov 2, 2019 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||
Current assets | |||||||
Current liabilities | |||||||
Liquidity Ratio | |||||||
Current ratio1 | |||||||
Benchmarks | |||||||
Current Ratio, Competitors2 | |||||||
Advanced Micro Devices Inc. | |||||||
Applied Materials Inc. | |||||||
Broadcom Inc. | |||||||
Intel Corp. | |||||||
KLA Corp. | |||||||
Lam Research Corp. | |||||||
Micron Technology Inc. | |||||||
NVIDIA Corp. | |||||||
Qualcomm Inc. | |||||||
Texas Instruments Inc. | |||||||
Current Ratio, Sector | |||||||
Semiconductors & Semiconductor Equipment | |||||||
Current Ratio, Industry | |||||||
Information Technology |
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
Current ratio = Current assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
- Current Assets
- There was a general upward trend in current assets from November 2019 to November 2024, with a notable increase from 1,985,126 thousand USD in 2019 to over 5,484,654 thousand USD in 2024. The values peaked in 2021 at 5,378,317 thousand USD before experiencing a decline in the following two years, reaching a low of 4,384,022 thousand USD in 2023, and then rising again in 2024.
- Current Liabilities
- Current liabilities showed a fluctuation over the period. Beginning at 1,508,632 thousand USD in 2019, they decreased to approximately 1,364,986 thousand USD in 2020. From 2020 to 2024, liabilities rose significantly, peaking at 3,200,971 thousand USD in 2023 before slightly reducing to 2,988,280 thousand USD in 2024. The overall trend indicates increased short-term financial obligations over the analyzed years.
- Current Ratio
- The current ratio exhibited variability across the time frame. It rose steadily from 1.32 in 2019 to a high of 2.02 in 2022, suggesting improved short-term liquidity during this period. However, this was followed by a sharp decline to 1.37 in 2023, indicating reduced liquidity, before rebounding to 1.84 in 2024. The data reflects fluctuations in the company's ability to cover short-term liabilities with current assets.
Quick Ratio
Nov 2, 2024 | Oct 28, 2023 | Oct 29, 2022 | Oct 30, 2021 | Oct 31, 2020 | Nov 2, 2019 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||
Cash and cash equivalents | |||||||
Short-term investments | |||||||
Accounts receivable less allowances | |||||||
Total quick assets | |||||||
Current liabilities | |||||||
Liquidity Ratio | |||||||
Quick ratio1 | |||||||
Benchmarks | |||||||
Quick Ratio, Competitors2 | |||||||
Advanced Micro Devices Inc. | |||||||
Applied Materials Inc. | |||||||
Broadcom Inc. | |||||||
Intel Corp. | |||||||
KLA Corp. | |||||||
Lam Research Corp. | |||||||
Micron Technology Inc. | |||||||
NVIDIA Corp. | |||||||
Qualcomm Inc. | |||||||
Texas Instruments Inc. | |||||||
Quick Ratio, Sector | |||||||
Semiconductors & Semiconductor Equipment | |||||||
Quick Ratio, Industry | |||||||
Information Technology |
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
Quick ratio = Total quick assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
- Total Quick Assets
- The total quick assets displayed a general increasing trend over the analyzed periods. Starting from approximately 1.28 billion US dollars in late 2019, these assets rose significantly to around 3.44 billion in 2021, followed by a slight decrease to about 3.27 billion in 2022. A notable decline occurred in 2023, bringing the figure down to roughly 2.43 billion, before rebounding sharply to nearly 3.7 billion in 2024. This pattern indicates fluctuations in liquid asset holdings but an overall capacity increase over the six-year span.
- Current Liabilities
- Current liabilities exhibited considerable volatility throughout the periods. Initially valued at approximately 1.51 billion in 2019, liabilities decreased to roughly 1.37 billion in 2020 before experiencing a sharp increase to nearly 2.77 billion in 2021. Subsequent years saw fluctuations, with a decrease in 2022 to about 2.44 billion, a steep rise again in 2023 to 3.20 billion, and a modest reduction to approximately 2.99 billion in 2024. The variation in current liabilities suggests shifts in short-term obligations, potentially linked to operational changes or financing activities.
- Quick Ratio
- The quick ratio followed a variable path, reflecting the relationship between liquid assets and current liabilities. Initially below 1 at 0.85 in 2019, it improved significantly to 1.31 in 2020, indicating enhanced short-term liquidity. A slight decline to 1.24 occurred in 2021, followed by an increase to 1.34 in 2022, representing the strongest liquidity position in the observed timeframe. However, a sharp decline to 0.76 in 2023 indicated a weakening liquidity buffer, before a recovery to 1.24 in 2024. Overall, the ratio's fluctuation underscores periods of both strengthened and weakened capacity to cover short-term obligations without relying on inventory sales.
Cash Ratio
Nov 2, 2024 | Oct 28, 2023 | Oct 29, 2022 | Oct 30, 2021 | Oct 31, 2020 | Nov 2, 2019 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||
Cash and cash equivalents | |||||||
Short-term investments | |||||||
Total cash assets | |||||||
Current liabilities | |||||||
Liquidity Ratio | |||||||
Cash ratio1 | |||||||
Benchmarks | |||||||
Cash Ratio, Competitors2 | |||||||
Advanced Micro Devices Inc. | |||||||
Applied Materials Inc. | |||||||
Broadcom Inc. | |||||||
Intel Corp. | |||||||
KLA Corp. | |||||||
Lam Research Corp. | |||||||
Micron Technology Inc. | |||||||
NVIDIA Corp. | |||||||
Qualcomm Inc. | |||||||
Texas Instruments Inc. | |||||||
Cash Ratio, Sector | |||||||
Semiconductors & Semiconductor Equipment | |||||||
Cash Ratio, Industry | |||||||
Information Technology |
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
Cash ratio = Total cash assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
- Total cash assets
- The total cash assets show a generally increasing trend over the analyzed periods, rising from approximately $648 million in 2019 to a peak near $1.98 billion in 2021. After a decline to about $958 million in 2023, there is a significant rise again reaching approximately $2.36 billion in 2024. This indicates fluctuating but overall growth in cash holdings, with notable liquidity accumulation especially in 2021 and 2024.
- Current liabilities
- Current liabilities display a fluctuating upward trend, starting at around $1.51 billion in 2019, dipping slightly in 2020, and then increasing sharply to $2.77 billion in 2021. Following a modest decline to $2.44 billion in 2022, they rise again reaching a high of approximately $3.20 billion in 2023, before a minor decrease to about $2.99 billion in 2024. This suggests growing short-term obligations with some volatility.
- Cash ratio
- The cash ratio exhibits variability in liquidity position relative to current liabilities. It rose from 0.43 in 2019 to a peak of 0.77 in 2020, followed by a slight decline to 0.71 in 2021 and a further dip to 0.60 in 2022. The ratio then decreases sharply to 0.30 in 2023, indicating reduced liquidity coverage of current liabilities, but rebounds significantly to 0.79 in 2024, reflecting improved ability to cover short-term liabilities with cash.
- Summary
- The data reveals that while total cash assets have generally increased, current liabilities have also expanded, leading to fluctuations in the cash ratio. The company maintained relatively strong liquidity ratios around 2020 and 2021, but saw a weakening in 2023 before a marked recovery in 2024. This pattern suggests periods of both consolidation and expansion in cash management relative to obligations, with the latest year showing improved short-term liquidity coverage.