Stock Analysis on Net

Analog Devices Inc. (NASDAQ:ADI)

Income Statement 
Quarterly Data

Analog Devices Inc., consolidated income statement (quarterly data)

US$ in thousands

Microsoft Excel
3 months ended: Aug 3, 2024 May 4, 2024 Feb 3, 2024 Oct 28, 2023 Jul 29, 2023 Apr 29, 2023 Jan 28, 2023 Oct 29, 2022 Jul 30, 2022 Apr 30, 2022 Jan 29, 2022 Oct 30, 2021 Jul 31, 2021 May 1, 2021 Jan 30, 2021 Oct 31, 2020 Aug 1, 2020 May 2, 2020 Feb 1, 2020 Nov 2, 2019 Aug 3, 2019 May 4, 2019 Feb 2, 2019 Nov 3, 2018 Aug 4, 2018 May 5, 2018 Feb 3, 2018
Revenue 2,312,209 2,159,039 2,512,704 2,716,484 3,076,495 3,262,930 3,249,630 3,247,716 3,109,880 2,972,064 2,684,293 2,339,568 1,758,853 1,661,407 1,558,458 1,526,295 1,456,136 1,317,060 1,303,565 1,443,219 1,480,143 1,526,602 1,541,101 1,596,586 1,572,679 1,513,053 1,518,624
Cost of sales (1,000,970) (979,004) (1,038,763) (1,069,768) (1,114,880) (1,118,384) (1,125,289) (1,104,901) (1,066,738) (1,027,544) (1,282,296) (1,217,748) (537,669) (524,770) (513,087) (503,211) (483,558) (470,386) (455,423) (501,028) (482,332) (492,510) (501,445) (502,932) (502,033) (479,241) (483,434)
Gross margin 1,311,239 1,180,035 1,473,941 1,646,716 1,961,615 2,144,546 2,124,341 2,142,815 2,043,142 1,944,520 1,401,997 1,121,820 1,221,184 1,136,637 1,045,371 1,023,084 972,578 846,674 848,142 942,191 997,811 1,034,092 1,039,656 1,093,654 1,070,646 1,033,812 1,035,190
Research and development (362,671) (354,862) (391,427) (406,594) (423,751) (415,754) (414,095) (421,008) (431,829) (420,901) (426,780) (399,121) (306,617) (302,238) (288,150) (280,239) (260,794) (252,413) (257,073) (277,018) (280,102) (285,846) (287,382) (295,699) (291,642) (289,472) (288,597)
Selling, marketing, general and administrative (257,213) (244,129) (290,078) (288,936) (334,113) (324,251) (326,284) (336,560) (326,942) (305,308) (297,365) (317,455) (206,076) (206,612) (185,275) (165,115) (153,753) (141,775) (199,280) (154,799) (162,825) (163,128) (167,342) (175,396) (171,487) (172,146) (176,908)
Amortization of intangibles (187,754) (188,944) (190,332) (202,736) (250,719) (253,021) (253,142) (252,865) (252,864) (253,476) (253,367) (213,594) (107,783) (107,786) (107,648) (108,007) (107,077) (107,146) (107,225) (107,225) (107,231) (107,261) (107,324) (107,345) (107,409) (107,129) (107,019)
Special charges, net (12,282) (5,977) (16,140) (114,035) (23,539) (23,136) (29,906) (138,201) (46,674) (59,728) (92,645) 8,938 (311) (438) (8,051) (31,830) (1,320) (11,136) (64,788) (927) (8,162) (21,782) (1,842) (1,069) (1,089) (57,318)
Operating expenses (819,920) (793,912) (887,977) (1,012,301) (1,032,122) (1,016,162) (993,521) (1,040,339) (1,149,836) (1,026,359) (1,037,240) (1,022,815) (611,538) (616,947) (581,511) (561,412) (553,454) (502,654) (574,714) (603,830) (551,085) (564,397) (583,830) (580,282) (571,607) (569,836) (629,842)
Operating income 491,319 386,123 585,964 634,415 929,493 1,128,384 1,130,820 1,102,476 893,306 918,161 364,757 99,005 609,646 519,690 463,860 461,672 419,124 344,020 273,428 338,361 446,726 469,695 455,826 513,372 499,039 463,976 405,348
Interest expense (85,179) (77,103) (77,141) (71,590) (69,346) (63,252) (60,453) (47,707) (51,189) (49,548) (51,964) (54,621) (44,659) (43,066) (42,479) (48,593) (45,914) (49,985) (48,813) (50,775) (59,871) (59,701) (58,728) (59,102) (61,665) (64,792) (68,030)
Loss on extinguishment of debt (215,150)
Interest income 26,432 15,269 9,169 9,089 8,794 12,575 10,829 4,328 1,797 563 218 421 300 290 209 527 504 1,334 1,940 1,988 2,625 2,928 2,688 2,791 2,588 1,912 2,092
Other, net (9,581) 314 (4,574) (128) 5,880 10,216 (7,723) (11,085) 4,023 10,069 10,544 14,178 6,991 (929) 15,028 3,704 (685) (308) (338) (1,747) 78 (4,525) 160 461 632 451 (556)
Nonoperating income (expense) (68,328) (61,520) (72,546) (62,629) (54,672) (40,461) (57,347) (54,464) (45,369) (38,916) (41,202) (255,172) (37,368) (43,705) (27,242) (44,362) (46,095) (48,959) (47,211) (50,534) (57,168) (61,298) (55,880) (55,850) (58,445) (62,429) (66,494)
Income before income taxes 422,991 324,603 513,418 571,786 874,821 1,087,923 1,073,473 1,048,012 847,937 879,245 323,555 (156,167) 572,278 475,985 436,618 417,310 373,029 295,061 226,217 287,827 389,558 408,397 399,946 457,522 440,594 401,547 338,854
(Provision for) benefit from income taxes (30,759) (22,361) (50,691) (73,356) 2,198 (110,267) (111,999) (111,786) (98,952) (95,972) (43,478) 231,854 (68,967) (53,080) (48,099) (30,784) (10,364) (27,365) (22,343) (10,133) (27,184) (40,460) (44,940) (24,557) (26,130) (21,716) (70,682)
Net income 392,232 302,242 462,727 498,430 877,019 977,656 961,474 936,226 748,985 783,273 280,077 75,687 503,311 422,905 388,519 386,526 362,665 267,696 203,874 277,694 362,374 367,937 355,006 432,965 414,464 379,831 268,172

Based on: 10-Q (reporting date: 2024-08-03), 10-Q (reporting date: 2024-05-04), 10-Q (reporting date: 2024-02-03), 10-K (reporting date: 2023-10-28), 10-Q (reporting date: 2023-07-29), 10-Q (reporting date: 2023-04-29), 10-Q (reporting date: 2023-01-28), 10-K (reporting date: 2022-10-29), 10-Q (reporting date: 2022-07-30), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-29), 10-K (reporting date: 2021-10-30), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-05-01), 10-Q (reporting date: 2021-01-30), 10-K (reporting date: 2020-10-31), 10-Q (reporting date: 2020-08-01), 10-Q (reporting date: 2020-05-02), 10-Q (reporting date: 2020-02-01), 10-K (reporting date: 2019-11-02), 10-Q (reporting date: 2019-08-03), 10-Q (reporting date: 2019-05-04), 10-Q (reporting date: 2019-02-02), 10-K (reporting date: 2018-11-03), 10-Q (reporting date: 2018-08-04), 10-Q (reporting date: 2018-05-05), 10-Q (reporting date: 2018-02-03).

Income statement item Description The company
Revenue Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Analog Devices Inc. revenue decreased from Q1 2024 to Q2 2024 but then slightly increased from Q2 2024 to Q3 2024.
Operating income The net result for the period of deducting operating expenses from operating revenues. Analog Devices Inc. operating income decreased from Q1 2024 to Q2 2024 but then increased from Q2 2024 to Q3 2024 not reaching Q1 2024 level.
Income before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Analog Devices Inc. income before income taxes decreased from Q1 2024 to Q2 2024 but then increased from Q2 2024 to Q3 2024 not reaching Q1 2024 level.
Net income The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Analog Devices Inc. net income decreased from Q1 2024 to Q2 2024 but then increased from Q2 2024 to Q3 2024 not reaching Q1 2024 level.