Financials Analog Devices, Inc.

Equities

ADI

US0326541051

Semiconductors

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215.61 ^USD	-1.57%		-2.68%	+8.59%

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Projected Income Statement: Analog Devices, Inc.

income-statement-evolution-chart ANALOG-DEVICES-INC

Fiscal Period: November	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	5,603	7,318	12,014	12,306	9,427	10,175	11,540	12,701
Change	-	30.61%	64.16%	2.43%	-23.39%	7.93%	13.42%	10.06%
EBITDA ¹	2,468	3,335	6,223	6,120	4,216	4,650	5,686	6,452
Change	-	35.13%	86.58%	-1.64%	-31.12%	10.31%	22.27%	13.46%
EBIT ¹	2,234	3,104	5,939	6,014	3,853	4,279	5,234	5,990
Change	-	38.91%	91.36%	1.27%	-35.94%	11.06%	22.31%	14.44%
Interest Paid ¹	-189	-183.6	-193.5	-223.4	-223.4	-248.9	-248.5	-
Earnings before Tax (EBT) ¹	1,312	1,329	3,099	3,608	1,777	2,395	4,004	4,408
Change	-	1.3%	133.21%	16.43%	-50.74%	34.77%	67.17%	10.07%
Net income ¹	1,221	1,390	2,749	3,315	1,635	2,007	3,102	3,750
Change	-	13.9%	97.68%	20.59%	-50.66%	22.75%	54.53%	20.88%
Announcement Date	11/24/20	11/23/21	11/22/22	11/21/23	11/26/24	-	-	-

¹USD in Million

Estimates

Fiscal Period: November	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	1,304	1,317	1,456	1,526	1,558	1,661	1,759	2,340	2,684	2,972	3,110	3,248	3,250	3,263	3,076	2,716	2,513	2,159	2,312	2,443	2,358	2,455	2,604	2,764	2,765	2,845	2,970	3,098
Change	-	1.04%	10.56%	4.82%	2.11%	6.61%	5.87%	33.02%	14.73%	10.72%	4.64%	4.43%	0.06%	0.41%	-5.71%	-11.7%	-7.5%	-14.08%	7.09%	5.67%	-3.5%	4.12%	6.06%	6.15%	0.04%	2.91%	4.39%	4.32%
EBITDA ¹	541.2	560.1	673.4	693.5	691.1	746.1	816.6	1,081	1,293	1,567	1,633	1,729	1,744	1,751	1,556	1,233	1,139	930.8	1,044	1,102	1,020	1,064	1,186	1,298	1,235	1,303	1,409	1,499
Change	-	3.48%	20.23%	2.99%	-0.33%	7.95%	9.45%	32.41%	19.62%	21.15%	4.21%	5.92%	0.86%	0.39%	-11.12%	-20.8%	-7.62%	-18.26%	12.18%	5.54%	-7.44%	4.27%	11.51%	9.45%	-4.83%	5.43%	8.16%	6.37%
EBIT ¹	481.4	500.8	615.8	636.4	634.8	693.6	766.4	1,009	1,228	1,495	1,557	1,659	1,659	1,671	1,470	1,215	1,054	841.9	951.8	1,005	940.9	1,008	1,106	1,229	1,229	1,294	1,383	1,468
Change	-	4.04%	22.96%	3.35%	-0.25%	9.26%	10.49%	31.64%	21.74%	21.73%	4.16%	6.52%	0.01%	0.71%	-12.01%	-17.39%	-13.18%	-20.15%	13.05%	5.56%	-6.35%	7.08%	9.81%	11.12%	-0.05%	5.33%	6.84%	6.19%
Charge d'intérêts ¹	-46.87	-48.96	-45.41	-48.07	-42.27	-42.78	-44.36	-54.2	-51.75	-48.98	-49.39	-43.38	-49.62	-50.68	-60.55	-62.5	-67.97	-61.83	-58.75	-62.5	-63.8	-61.58	-60.96	-60.14	-59.04	-58.33	-58.33	-58.33
Earnings before Tax (EBT) ¹	226.2	295.1	373	417.3	436.6	476	572.3	-156.2	323.6	879.2	847.9	1,048	1,073	1,088	874.8	571.8	513.4	324.6	423	516.3	470.7	500	637.7	786.8	837.7	854.6	923.4	1,085
Change	-	30.43%	26.42%	11.87%	4.63%	9.02%	20.23%	-	-	171.75%	-3.56%	23.6%	2.43%	1.35%	-19.59%	-34.64%	-10.21%	-36.78%	30.31%	22.07%	-8.84%	6.23%	27.54%	23.37%	6.47%	2.02%	8.05%	17.54%
Net income ¹	203.9	267.7	362.7	386.5	388.5	422.9	503.3	75.69	280.1	783.3	749	936.2	961.5	977.7	877	498.4	462.7	302.2	392.2	478.1	395.3	439.1	529.1	646.8	679.3	719.6	798.9	886.1
Change	-	31.3%	35.48%	6.58%	0.52%	8.85%	19.01%	-84.96%	270.05%	179.66%	-4.38%	25%	2.7%	1.68%	-10.29%	-43.17%	-7.16%	-34.68%	29.77%	21.89%	-17.31%	11.07%	20.49%	22.25%	5.03%	5.93%	11.02%	10.91%
Announcement Date	2/19/20	5/20/20	8/19/20	11/24/20	2/17/21	5/19/21	8/18/21	11/23/21	2/16/22	5/18/22	8/17/22	11/22/22	2/15/23	5/24/23	8/23/23	11/21/23	2/21/24	5/22/24	8/21/24	11/26/24	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Analog Devices, Inc.

balance-sheet-analysis-chart ANALOG-DEVICES-INC

Fiscal Period: November	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	4,089	4,792	5,078	4,944	5,219	4,686	4,101	3,959
Change	-	17.19%	5.97%	-2.64%	5.56%	-10.2%	-12.48%	-3.46%
Announcement Date	11/24/20	11/23/21	11/22/22	11/21/23	11/26/24	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Analog Devices, Inc.

Fiscal Period: November	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	166	343.7	699.3	1,261	730.5	582.9	601.8	652.9
Change	-	107.03%	103.48%	80.39%	-42.09%	-20.21%	3.24%	8.5%
Free Cash Flow (FCF) ¹	1,843	2,391	3,776	3,556	3,122	3,842	4,842	5,256
Change	-	29.73%	57.93%	-5.82%	-12.21%	23.07%	26.01%	8.57%
Announcement Date	11/24/20	11/23/21	11/22/22	11/21/23	11/26/24	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Analog Devices, Inc.

Fiscal Period: November	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	44.05%	45.57%	51.79%	49.74%	44.72%	45.7%	49.27%	50.79%
EBIT Margin (%)	39.88%	42.41%	49.44%	48.88%	40.87%	42.06%	45.35%	47.16%
EBT Margin (%)	23.41%	18.16%	25.79%	29.32%	18.85%	23.54%	34.7%	34.7%
Net margin (%)	21.79%	19%	22.88%	26.94%	17.35%	19.73%	26.88%	29.52%
FCF margin (%)	32.89%	32.67%	31.43%	28.9%	33.12%	37.76%	41.95%	41.39%
FCF / Net Income (%)	150.97%	171.96%	137.38%	107.29%	190.92%	191.41%	156.08%	140.18%
Profitability
ROA	5.67%	7.03%	9.76%	10.3%	6.56%	6.96%	8.35%	9.97%
ROE	15.35%	10.37%	13.45%	14.17%	9%	10.25%	12.75%	14.72%
Financial Health
Leverage (Debt/EBITDA)	1.66x	1.44x	0.82x	0.81x	1.24x	1.01x	0.72x	0.61x
Debt / Free cash flow	2.22x	2x	1.34x	1.39x	1.67x	1.22x	0.85x	0.75x
Capital Intensity
CAPEX / Current Assets (%)	2.96%	4.7%	5.82%	10.25%	7.75%	5.73%	5.21%	5.14%
CAPEX / EBITDA (%)	6.73%	10.31%	11.24%	20.61%	17.33%	12.53%	10.58%	10.12%
CAPEX / FCF (%)	9.01%	14.37%	18.52%	35.47%	23.4%	15.17%	12.43%	12.42%
Items per share
Cash flow per share ¹	5.4	6.816	8.6	9.522	7.725	7.517	9.206	11.15
Change	-	26.22%	26.18%	10.72%	-18.87%	-2.69%	22.46%	21.16%
Dividend per Share ¹	2.4	2.76	2.97	3.44	-	3.946	4.386	5.059
Change	-	15%	7.61%	15.82%	-	-	11.18%	15.33%
Book Value Per Share ¹	32.25	94.68	71.6	71.67	70.88	69.54	68.84	69.01
Change	-	193.57%	-24.37%	0.09%	-1.1%	-1.89%	-1.01%	0.25%
EPS ¹	3.28	3.46	5.25	6.55	3.28	4.048	6.545	8.245
Change	-	5.49%	51.73%	24.76%	-49.92%	23.43%	61.67%	25.97%
Nbr of stocks (in thousands)	369,560	537,411	514,342	498,314	496,493	496,297	496,297	496,297
Announcement Date	11/24/20	11/23/21	11/22/22	11/21/23	11/26/24	-	-	-