Price to FCFE (P/FCFE)

Free Cash Flow to Equity (FCFE)
P to FCFE Ratio, Current
P to FCFE Ratio, Historical

Free Cash Flow to Equity (FCFE)

Analog Devices Inc., FCFE 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)
Net noncash charges	2,022,513)	2,148,645)	2,610,506)	1,452,702)	634,304)	925,372)
Change in operating assets and liabilities	194,743)	(645,590)	(883,665)	(108,055)	153,422)	(35,283)
Net cash provided by operating activities	3,852,529)	4,817,634)	4,475,402)	2,735,069)	2,008,487)	2,253,100)
Additions to property, plant and equipment, net	(730,463)	(1,261,463)	(699,308)	(343,676)	(165,692)	(275,372)
Proceeds from debt	1,087,856)	—)	296,130)	3,939,640)	395,646)	1,250,000)
Early termination of debt	—)	(65,688)	(519,116)	(3,591,982)	—)	(1,250,000)
Debt repayments	(499,966)	—)	—)	—)	(750,000)	(850,000)
Payments on revolver	—)	—)	(400,000)	(400,000)	(350,000)	(75,000)
Proceeds from revolver	—)	—)	400,000)	400,000)	350,000)	75,000)
Proceeds from commercial paper notes	10,184,439)	5,287,124)	—)	—)	—)	—)
Payments of commercial paper notes	(10,183,925)	(4,739,900)	—)	—)	—)	—)
Free cash flow to equity (FCFE)	3,710,470)	4,037,707)	3,553,108)	2,739,051)	1,488,441)	1,127,728)

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
FCFE	Free cash flow to equity is the cash flow available to Analog Devices Inc. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made.	Analog Devices Inc. FCFE increased from 2022 to 2023 but then slightly decreased from 2023 to 2024 not reaching 2022 level.

Price to FCFE Ratio, Current

Analog Devices Inc., current P/FCFE calculation, comparison to benchmarks

No. shares of common stock outstanding	496,296,854
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in thousands)	3,710,470)
FCFE per share	7.48
Current share price (P)	219.16
Valuation Ratio
P/FCFE	29.31
Benchmarks
P/FCFE, Competitors¹
Advanced Micro Devices Inc.	175.83
Applied Materials Inc.	19.34
Broadcom Inc.	27.99
Intel Corp.	—
KLA Corp.	26.90
Lam Research Corp.	25.83
Micron Technology Inc.	—
Monolithic Power Systems Inc.	52.58
NVIDIA Corp.	130.86
Qualcomm Inc.	17.67
Texas Instruments Inc.	45.60
P/FCFE, Sector
Semiconductors & Semiconductor Equipment	118.87
P/FCFE, Industry
Information Technology	52.48

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

¹ Click competitor name to see calculations.

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

Price to FCFE Ratio, Historical

Analog Devices Inc., historical P/FCFE calculation, comparison to benchmarks

	Nov 2, 2024	Oct 28, 2023	Oct 29, 2022	Oct 30, 2021	Oct 31, 2020	Nov 2, 2019
No. shares of common stock outstanding¹	496,296,854	496,261,678	509,295,941	525,330,672	369,484,899	368,302,369
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in thousands)²	3,710,470)	4,037,707)	3,553,108)	2,739,051)	1,488,441)	1,127,728)
FCFE per share³	7.48	8.14	6.98	5.21	4.03	3.06
Share price^1, 4	219.05	181.25	168.43	180.79	136.89	114.89
Valuation Ratio
P/FCFE⁵	29.30	22.28	24.14	34.67	33.98	37.52
Benchmarks
P/FCFE, Competitors⁶
Advanced Micro Devices Inc.	—	241.70	33.46	44.72	133.51	—
Applied Materials Inc.	17.05	17.53	19.17	27.20	23.21	19.53
Broadcom Inc.	26.03	30.06	14.62	22.35	9.16	5.64
Intel Corp.	—	—	—	14.25	8.57	16.55
KLA Corp.	25.11	26.78	9.01	28.05	19.15	9.84
Lam Research Corp.	25.89	18.67	24.95	34.58	16.89	6.14
Micron Technology Inc.	—	—	18.66	37.24	81.71	13.92
Monolithic Power Systems Inc.	—	60.34	121.66	95.13	83.64	54.53
NVIDIA Corp.	65.45	151.07	54.83	35.22	44.24	30.15
Qualcomm Inc.	18.57	11.97	19.13	17.93	34.91	16.39
Texas Instruments Inc.	—	37.61	23.88	21.87	24.10	18.77
P/FCFE, Sector
Semiconductors & Semiconductor Equipment	—	47.70	29.30	25.10	17.84	14.18
P/FCFE, Industry
Information Technology	—	33.30	26.87	27.27	23.30	18.62

¹ Data adjusted for splits and stock dividends.

² See details »

³ 2024 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= 3,710,470,000 ÷ 496,296,854 = 7.48

⁴ Closing price as at the filing date of Analog Devices Inc. Annual Report.

⁵ 2024 Calculation
P/FCFE = Share price ÷ FCFE per share
= 219.05 ÷ 7.48 = 29.30

⁶ Click competitor name to see calculations.

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Valuation ratio	Description	The company
P/FCFE	Price to free cash flow to equity is cash valuation indicator of stockholders’ equity.	Analog Devices Inc. P/FCFE ratio decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.

Analog Devices Inc. (NASDAQ:ADI)

Price to FCFE (P/FCFE)

Free Cash Flow to Equity (FCFE)

Price to FCFE Ratio, Current

Price to FCFE Ratio, Historical