Analog Devices (ADI) FY2023 results: revenue $12.3 billion, up 2.4% on the year
Analog Devices Inc. (ADI) reported revenue of $12.3 billion for fiscal 2023, the year ended 28 October 2023, up 2.4% on the year before. Net income was $3.3 billion, up 20.6%, and diluted earnings per share $6.55. The figures are the company's own, from the 10-K it filed with the SEC on 21 November 2023.
Revenue
$12.3 billion
+2.4% on the year
FY2016FY2023
Operating margin
31.1%
27.3% a year earlier
FY2016FY2023
Net income
$3.3 billion
+20.6% on the year
FY2016FY2023
Diluted EPS
$6.55
+24.8% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
4,818
4,475
2,735
+7.6%
Capital expenditure
1,261
699
344
+80.4%
Free cash flow
3,556
3,776
2,391
-5.8%
Free cash flow margin
28.9%
31.4%
32.7%
Cash from investing
-1,266
-657
2,144
Cash from financing
-4,064
-4,291
-3,960
Depreciation and amortisation
2,293
2,297
1,075
-0.2%
Share-based compensation
300
323
244
-7.3%
Buybacks
2,964
2,577
2,605
+15.0%
Dividends paid
1,679
1,545
1,109
+8.7%
Dividend per share
$3.34
$2.97
$2.69
+12.5%
Diluted shares, weighted
506m
523m
401m
-3.3%
Shares outstanding at period end
496m
509m
525m
-2.6%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
35,565
36,465
37,993
-2.5%
Debt
6,949
6,577
6,777
+5.7%
Operating lease liabilities
360
337
296
+6.9%
Other liabilities
5,920
6,923
7,257
-14.5%
Total liabilities and equity
48,794
50,302
52,322
-3.0%
Fixed assets
3,219
2,401
1,979
+34.1%
Goodwill
26,913
26,913
26,918
0.0%
Intangible assets
11,312
13,265
15,267
-14.7%
Investments
0.0
122
128
Cash and equivalents
958
1,471
1,978
-34.9%
Receivables
1,470
1,800
1,459
-18.4%
Inventory
1,642
1,400
1,201
+17.3%
Other assets
3,280
2,929
3,392
+12.0%
Total assets
48,794
50,302
52,322
-3.0%
10-K for the year ended 28 October 2023, filed 21 November 2023: the filing.