Analog Devices Inc., adjustment to net income

US$ in thousands

12 months ended:	Nov 2, 2024	Oct 28, 2023	Oct 29, 2022	Oct 30, 2021	Oct 31, 2020	Nov 2, 2019
Net income (as reported)	1,635,273)	3,314,579)	2,748,561)	1,390,422)	1,220,761)	1,363,011)
Add: Change in fair value of available-for-sale securities	—)	—)	—)	—)	—)	10)
Net income (adjusted)	1,635,273)	3,314,579)	2,748,561)	1,390,422)	1,220,761)	1,363,021)

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Analog Devices Inc., adjusted profitability ratios

	Nov 2, 2024	Oct 28, 2023	Oct 29, 2022	Oct 30, 2021	Oct 31, 2020	Nov 2, 2019
Net Profit Margin
Reported net profit margin	17.35%	26.94%	22.88%	19.00%	21.79%	22.75%
Adjusted net profit margin	17.35%	26.94%	22.88%	19.00%	21.79%	22.75%
Return on Equity (ROE)
Reported ROE	4.65%	9.32%	7.54%	3.66%	10.17%	11.64%
Adjusted ROE	4.65%	9.32%	7.54%	3.66%	10.17%	11.64%
Return on Assets (ROA)
Reported ROA	3.39%	6.79%	5.46%	2.66%	5.69%	6.37%
Adjusted ROA	3.39%	6.79%	5.46%	2.66%	5.69%	6.37%

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 2022 to 2023 but then deteriorated significantly from 2023 to 2024.
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by shareholders’ equity.	Analog Devices Inc. adjusted ROE improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by total assets.	Analog Devices Inc. adjusted ROA improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

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	Nov 2, 2024	Oct 28, 2023	Oct 29, 2022	Oct 30, 2021	Oct 31, 2020	Nov 2, 2019
As Reported
Selected Financial Data (US$ in thousands)
Net income	1,635,273)	3,314,579)	2,748,561)	1,390,422)	1,220,761)	1,363,011)
Revenue	9,427,157)	12,305,539)	12,013,953)	7,318,286)	5,603,056)	5,991,065)
Profitability Ratio
Net profit margin¹	17.35%	26.94%	22.88%	19.00%	21.79%	22.75%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in thousands)
Adjusted net income	1,635,273)	3,314,579)	2,748,561)	1,390,422)	1,220,761)	1,363,021)
Revenue	9,427,157)	12,305,539)	12,013,953)	7,318,286)	5,603,056)	5,991,065)
Profitability Ratio
Adjusted net profit margin²	17.35%	26.94%	22.88%	19.00%	21.79%	22.75%

2024 Calculations

¹ Net profit margin = 100 × Net income ÷ Revenue
= 100 × 1,635,273 ÷ 9,427,157 = 17.35%

² Adjusted net profit margin = 100 × Adjusted net income ÷ Revenue
= 100 × 1,635,273 ÷ 9,427,157 = 17.35%

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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 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

	Nov 2, 2024	Oct 28, 2023	Oct 29, 2022	Oct 30, 2021	Oct 31, 2020	Nov 2, 2019
As Reported
Selected Financial Data (US$ in thousands)
Net income	1,635,273)	3,314,579)	2,748,561)	1,390,422)	1,220,761)	1,363,011)
Shareholders’ equity	35,176,317)	35,565,122)	36,465,323)	37,992,542)	11,997,945)	11,709,188)
Profitability Ratio
ROE¹	4.65%	9.32%	7.54%	3.66%	10.17%	11.64%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in thousands)
Adjusted net income	1,635,273)	3,314,579)	2,748,561)	1,390,422)	1,220,761)	1,363,021)
Shareholders’ equity	35,176,317)	35,565,122)	36,465,323)	37,992,542)	11,997,945)	11,709,188)
Profitability Ratio
Adjusted ROE²	4.65%	9.32%	7.54%	3.66%	10.17%	11.64%

2024 Calculations

¹ ROE = 100 × Net income ÷ Shareholders’ equity
= 100 × 1,635,273 ÷ 35,176,317 = 4.65%

² Adjusted ROE = 100 × Adjusted net income ÷ Shareholders’ equity
= 100 × 1,635,273 ÷ 35,176,317 = 4.65%

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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 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

	Nov 2, 2024	Oct 28, 2023	Oct 29, 2022	Oct 30, 2021	Oct 31, 2020	Nov 2, 2019
As Reported
Selected Financial Data (US$ in thousands)
Net income	1,635,273)	3,314,579)	2,748,561)	1,390,422)	1,220,761)	1,363,011)
Total assets	48,228,277)	48,794,478)	50,302,350)	52,322,071)	21,468,603)	21,392,641)
Profitability Ratio
ROA¹	3.39%	6.79%	5.46%	2.66%	5.69%	6.37%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in thousands)
Adjusted net income	1,635,273)	3,314,579)	2,748,561)	1,390,422)	1,220,761)	1,363,021)
Total assets	48,228,277)	48,794,478)	50,302,350)	52,322,071)	21,468,603)	21,392,641)
Profitability Ratio
Adjusted ROA²	3.39%	6.79%	5.46%	2.66%	5.69%	6.37%

2024 Calculations

¹ ROA = 100 × Net income ÷ Total assets
= 100 × 1,635,273 ÷ 48,228,277 = 3.39%

² Adjusted ROA = 100 × Adjusted net income ÷ Total assets
= 100 × 1,635,273 ÷ 48,228,277 = 3.39%

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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 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

Analog Devices Inc. (NASDAQ:ADI)

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