Analog Devices Inc., adjustment to net income

US$ in thousands

12 months ended:	Oct 28, 2023	Oct 29, 2022	Oct 30, 2021	Oct 31, 2020	Nov 2, 2019	Nov 3, 2018
Net income (as reported)	3,314,579)	2,748,561)	1,390,422)	1,220,761)	1,363,011)	1,495,432)
Add: Change in fair value of available-for-sale securities	—)	—)	—)	—)	10)	(10)
Net income (adjusted)	3,314,579)	2,748,561)	1,390,422)	1,220,761)	1,363,021)	1,495,422)

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Analog Devices Inc., adjusted profitability ratios

	Oct 28, 2023	Oct 29, 2022	Oct 30, 2021	Oct 31, 2020	Nov 2, 2019	Nov 3, 2018
Net Profit Margin
Reported net profit margin	26.94%	22.88%	19.00%	21.79%	22.75%	24.12%
Adjusted net profit margin	26.94%	22.88%	19.00%	21.79%	22.75%	24.12%
Return on Equity (ROE)
Reported ROE	9.32%	7.54%	3.66%	10.17%	11.64%	13.61%
Adjusted ROE	9.32%	7.54%	3.66%	10.17%	11.64%	13.61%
Return on Assets (ROA)
Reported ROA	6.79%	5.46%	2.66%	5.69%	6.37%	7.31%
Adjusted ROA	6.79%	5.46%	2.66%	5.69%	6.37%	7.31%

Profitability ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by revenue.	Analog Devices Inc. adjusted net profit margin ratio improved from 2021 to 2022 and from 2022 to 2023.
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by shareholders’ equity.	Analog Devices Inc. adjusted ROE improved from 2021 to 2022 and from 2022 to 2023.
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by total assets.	Analog Devices Inc. adjusted ROA improved from 2021 to 2022 and from 2022 to 2023.

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	Oct 28, 2023	Oct 29, 2022	Oct 30, 2021	Oct 31, 2020	Nov 2, 2019	Nov 3, 2018
As Reported
Selected Financial Data (US$ in thousands)
Net income	3,314,579)	2,748,561)	1,390,422)	1,220,761)	1,363,011)	1,495,432)
Revenue	12,305,539)	12,013,953)	7,318,286)	5,603,056)	5,991,065)	6,200,942)
Profitability Ratio
Net profit margin¹	26.94%	22.88%	19.00%	21.79%	22.75%	24.12%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in thousands)
Adjusted net income	3,314,579)	2,748,561)	1,390,422)	1,220,761)	1,363,021)	1,495,422)
Revenue	12,305,539)	12,013,953)	7,318,286)	5,603,056)	5,991,065)	6,200,942)
Profitability Ratio
Adjusted net profit margin²	26.94%	22.88%	19.00%	21.79%	22.75%	24.12%

2023 Calculations

¹ Net profit margin = 100 × Net income ÷ Revenue
= 100 × 3,314,579 ÷ 12,305,539 = 26.94%

² Adjusted net profit margin = 100 × Adjusted net income ÷ Revenue
= 100 × 3,314,579 ÷ 12,305,539 = 26.94%

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Profitability ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by revenue.	Analog Devices Inc. adjusted net profit margin ratio improved from 2021 to 2022 and from 2022 to 2023.

	Oct 28, 2023	Oct 29, 2022	Oct 30, 2021	Oct 31, 2020	Nov 2, 2019	Nov 3, 2018
As Reported
Selected Financial Data (US$ in thousands)
Net income	3,314,579)	2,748,561)	1,390,422)	1,220,761)	1,363,011)	1,495,432)
Shareholders’ equity	35,565,122)	36,465,323)	37,992,542)	11,997,945)	11,709,188)	10,988,540)
Profitability Ratio
ROE¹	9.32%	7.54%	3.66%	10.17%	11.64%	13.61%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in thousands)
Adjusted net income	3,314,579)	2,748,561)	1,390,422)	1,220,761)	1,363,021)	1,495,422)
Shareholders’ equity	35,565,122)	36,465,323)	37,992,542)	11,997,945)	11,709,188)	10,988,540)
Profitability Ratio
Adjusted ROE²	9.32%	7.54%	3.66%	10.17%	11.64%	13.61%

2023 Calculations

¹ ROE = 100 × Net income ÷ Shareholders’ equity
= 100 × 3,314,579 ÷ 35,565,122 = 9.32%

² Adjusted ROE = 100 × Adjusted net income ÷ Shareholders’ equity
= 100 × 3,314,579 ÷ 35,565,122 = 9.32%

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Profitability ratio	Description	The company
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by shareholders’ equity.	Analog Devices Inc. adjusted ROE improved from 2021 to 2022 and from 2022 to 2023.

	Oct 28, 2023	Oct 29, 2022	Oct 30, 2021	Oct 31, 2020	Nov 2, 2019	Nov 3, 2018
As Reported
Selected Financial Data (US$ in thousands)
Net income	3,314,579)	2,748,561)	1,390,422)	1,220,761)	1,363,011)	1,495,432)
Total assets	48,794,478)	50,302,350)	52,322,071)	21,468,603)	21,392,641)	20,449,779)
Profitability Ratio
ROA¹	6.79%	5.46%	2.66%	5.69%	6.37%	7.31%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in thousands)
Adjusted net income	3,314,579)	2,748,561)	1,390,422)	1,220,761)	1,363,021)	1,495,422)
Total assets	48,794,478)	50,302,350)	52,322,071)	21,468,603)	21,392,641)	20,449,779)
Profitability Ratio
Adjusted ROA²	6.79%	5.46%	2.66%	5.69%	6.37%	7.31%

2023 Calculations

¹ ROA = 100 × Net income ÷ Total assets
= 100 × 3,314,579 ÷ 48,794,478 = 6.79%

² Adjusted ROA = 100 × Adjusted net income ÷ Total assets
= 100 × 3,314,579 ÷ 48,794,478 = 6.79%

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Profitability ratio	Description	The company
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by total assets.	Analog Devices Inc. adjusted ROA improved from 2021 to 2022 and from 2022 to 2023.

Analog Devices Inc. (NASDAQ:ADI)

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