Price to FCFE (P/FCFE)
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- Cash Flow Statement
- Analysis of Solvency Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value (EV)
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Net Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Total Asset Turnover since 2005
- Price to Sales (P/S) since 2005
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Free Cash Flow to Equity (FCFE)
Analog Devices Inc., FCFE calculation
US$ in thousands
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).
- Operating Cash Flow
- The net cash provided by operating activities displayed a general upward trend over the observed periods, beginning at approximately 2.01 billion USD and reaching a peak of about 4.82 billion USD. Notably, there was a significant increase from 2021 to 2022, followed by a more moderate rise into 2023. However, in 2024, a decline to around 3.85 billion USD was observed before rebounding again in 2025.
- Free Cash Flow to Equity (FCFE)
- Free cash flow to equity also demonstrated strong growth throughout the periods, starting at roughly 1.49 billion USD and culminating at approximately 5.33 billion USD in the latest year. There was consistent year-over-year growth with a slight decrease observed in 2024 before a pronounced recovery in 2025, surpassing previous highs.
- Comparative Insights
- Both operating cash flow and FCFE showed overall increasing trends, indicating potentially improving operational efficiency and cash generation capabilities. The dip in 2024 for both metrics suggests a temporary contraction or investment phase, followed by recovery. The magnitude of cash flows indicates significant available liquidity and suggests a robust capacity to fund equity holders and possibly reinvest in operations or reduce liabilities.
Price to FCFE Ratio, Current
Analog Devices Inc., current P/FCFE calculation, comparison to benchmarks
| No. shares of common stock outstanding | |
| Selected Financial Data (US$) | |
| Free cash flow to equity (FCFE) (in thousands) | |
| FCFE per share | |
| Current share price (P) | |
| Valuation Ratio | |
| P/FCFE | |
| Benchmarks | |
| P/FCFE, Competitors1 | |
| Advanced Micro Devices Inc. | |
| Applied Materials Inc. | |
| Broadcom Inc. | |
| Intel Corp. | |
| KLA Corp. | |
| Lam Research Corp. | |
| Micron Technology Inc. | |
| NVIDIA Corp. | |
| Qualcomm Inc. | |
| Texas Instruments Inc. | |
| P/FCFE, Sector | |
| Semiconductors & Semiconductor Equipment | |
| P/FCFE, Industry | |
| Information Technology | |
Based on: 10-K (reporting date: 2025-11-01).
1 Click competitor name to see calculations.
If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.
Price to FCFE Ratio, Historical
Analog Devices Inc., historical P/FCFE calculation, comparison to benchmarks
| Nov 1, 2025 | Nov 2, 2024 | Oct 28, 2023 | Oct 29, 2022 | Oct 30, 2021 | Oct 31, 2020 | ||
|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||
| Selected Financial Data (US$) | |||||||
| Free cash flow to equity (FCFE) (in thousands)2 | |||||||
| FCFE per share3 | |||||||
| Share price1, 4 | |||||||
| Valuation Ratio | |||||||
| P/FCFE5 | |||||||
| Benchmarks | |||||||
| P/FCFE, Competitors6 | |||||||
| 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. | |||||||
| P/FCFE, Sector | |||||||
| Semiconductors & Semiconductor Equipment | |||||||
| P/FCFE, Industry | |||||||
| Information Technology | |||||||
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 Data adjusted for splits and stock dividends.
3 2025 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= ÷ =
4 Closing price as at the filing date of Analog Devices Inc. Annual Report.
5 2025 Calculation
P/FCFE = Share price ÷ FCFE per share
= ÷ =
6 Click competitor name to see calculations.
- Share Price
- The share price exhibited a substantial upward trend over the analyzed period. Starting at $136.89, it rose sharply to $180.79 the following year. Subsequently, there was a slight decline to $168.43, after which the price rebounded to $181.25. The following two years saw significant increases, reaching $219.05 and $252.02 respectively. Overall, the share price increased by approximately 84% over the entire span.
- Free Cash Flow to Equity (FCFE) per Share
- The FCFE per share showed steady growth with some fluctuations. Beginning at $4.03, it increased consistently to $5.21 and further to $6.98 in subsequent years. By the fourth year, it reached $8.14, demonstrating robust cash generation capacity. There was a slight dip to $7.48 before escalating sharply to $10.88 in the final year. This pattern indicates strong and generally rising free cash flow generation available to shareholders.
- Price to FCFE (P/FCFE) Ratio
- The P/FCFE ratio presented a downward trend with intermittent variations. Initially, the ratio was high at 33.98 and increased slightly to 34.67. It then declined markedly to 24.14 and further down to 22.28 in the following years, reflecting that the market valuation relative to free cash flow became more conservative. An increase to 29.3 was observed in the next period, suggesting a temporary rise in valuation multiples. However, the ratio decreased again to 23.16 at the end of the period, indicating that the stock price growth outpaced free cash flow growth recently or that the market reassessed its valuation metrics.
- Summary
- The overall trend demonstrates increasing shareholder value as evidenced by rising share prices and growing FCFE per share. The decline in the P/FCFE ratio over most of the period implies the shares became more reasonably valued relative to free cash flow, despite the recent temporary spike. The pattern suggests the company strengthened its cash flow generation capacity while the market valuation adjusted, possibly reflecting improved operational efficiency or changing investor expectations regarding future growth or risk.