Enterprise Value to EBITDA (EV/EBITDA)

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)
EV to EBITDA Ratio, Current
EV to EBITDA Ratio, Historical

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Analog Devices Inc., EBITDA calculation

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	1,635,273)	3,314,579)	2,748,561)	1,390,422)	1,220,761)	1,363,011)
Add: Income tax expense	142,067)	293,424)	350,188)	(61,708)	90,856)	122,717)
Earnings before tax (EBT)	1,777,340)	3,608,003)	3,098,749)	1,328,714)	1,311,617)	1,485,728)
Add: Interest expense	322,227)	264,641)	200,408)	184,825)	193,305)	229,075)
Earnings before interest and tax (EBIT)	2,099,567)	3,872,644)	3,299,157)	1,513,539)	1,504,922)	1,714,803)
Add: Depreciation	362,771)	334,704)	283,338)	231,275)	233,775)	240,677)
Add: Amortization of intangibles	1,741,545)	1,958,399)	2,014,161)	843,359)	577,148)	570,574)
Earnings before interest, tax, depreciation and amortization (EBITDA)	4,203,883)	6,165,747)	5,596,656)	2,588,173)	2,315,845)	2,526,054)

Based on: 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), 10-K (reporting date: 2019-11-02).

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Item	Description	The company
EBITDA	To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital.	Analog Devices Inc. EBITDA increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.

Enterprise Value to EBITDA Ratio, Current

Analog Devices Inc., current EV/EBITDA calculation, comparison to benchmarks

Selected Financial Data (US$ in thousands)
Enterprise value (EV)	110,324,270)
Earnings before interest, tax, depreciation and amortization (EBITDA)	4,203,883)
Valuation Ratio
EV/EBITDA	26.24
Benchmarks
EV/EBITDA, Competitors¹
Advanced Micro Devices Inc.	46.75
Applied Materials Inc.	14.78
Broadcom Inc.	45.78
First Solar Inc.	14.85
Intel Corp.	10.03
KLA Corp.	22.11
Lam Research Corp.	18.66
Micron Technology Inc.	11.04
Monolithic Power Systems Inc.	50.91
NVIDIA Corp.	92.25
Qualcomm Inc.	13.44
Texas Instruments Inc.	19.22
EV/EBITDA, Sector
Semiconductors & Semiconductor Equipment	62.10
EV/EBITDA, Industry
Information Technology	37.83

Based on: 10-K (reporting date: 2024-11-02).

¹ Click competitor name to see calculations.

If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.

Enterprise Value to EBITDA Ratio, Historical

Analog Devices Inc., historical EV/EBITDA calculation, comparison to benchmarks

	Nov 2, 2024	Oct 28, 2023	Oct 29, 2022	Oct 30, 2021	Oct 31, 2020	Nov 2, 2019
Selected Financial Data (US$ in thousands)
Enterprise value (EV)¹	113,932,349)	95,938,101)	90,858,768)	99,766,443)	54,668,030)	47,157,856)
Earnings before interest, tax, depreciation and amortization (EBITDA)²	4,203,883)	6,165,747)	5,596,656)	2,588,173)	2,315,845)	2,526,054)
Valuation Ratio
EV/EBITDA³	27.10	15.56	16.23	38.55	23.61	18.67
Benchmarks
EV/EBITDA, Competitors⁴
Advanced Micro Devices Inc.	—	65.81	22.63	34.19	62.10	82.59
Applied Materials Inc.	15.31	15.75	11.04	17.54	16.82	14.60
Broadcom Inc.	45.78	26.42	13.54	19.72	18.89	16.32
First Solar Inc.	—	11.52	53.82	7.64	12.99	32.49
Intel Corp.	—	18.96	6.20	6.02	6.40	8.73
KLA Corp.	24.77	15.67	14.97	19.26	18.10	14.14
Lam Research Corp.	20.93	15.36	11.36	16.94	18.35	10.69
Micron Technology Inc.	12.40	32.38	3.26	6.05	6.46	3.90
Monolithic Power Systems Inc.	—	62.08	39.34	68.91	90.99	51.73
NVIDIA Corp.	46.95	95.69	57.58	58.98	52.92	21.08
Qualcomm Inc.	15.19	12.82	7.84	12.76	19.49	10.55
Texas Instruments Inc.	—	16.36	14.69	15.54	21.75	17.73
EV/EBITDA, Sector
Semiconductors & Semiconductor Equipment	—	26.57	14.71	15.61	14.87	11.67
EV/EBITDA, Industry
Information Technology	—	23.81	18.66	20.75	19.96	14.60

¹ See details »

² See details »

³ 2024 Calculation
EV/EBITDA = EV ÷ EBITDA
= 113,932,349 ÷ 4,203,883 = 27.10

⁴ Click competitor name to see calculations.

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Valuation ratio	Description	The company
EV/EBITDA	Enterprise value to earnings before interest, tax, depreciation and amortization is a valuation indicator for the overall company rather than common stock.	Analog Devices Inc. EV/EBITDA ratio decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.

Analog Devices Inc. (NASDAQ:ADI)

Enterprise Value to EBITDA (EV/EBITDA)

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Enterprise Value to EBITDA Ratio, Current

Enterprise Value to EBITDA Ratio, Historical