ADI Q1 2023 Earnings Report — Analog Devices, Inc. Revenue & Financial Results | Market Cap Arena

Analog Devices, Inc.ADI

Q1 2023 Earnings

Reported February 15, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2023	Q4 2022	Q1 2022	QoQ Change	YoY Change
Revenue	$3.2B	$3.2B	$2.7B	0.1%	21.1%
Op. Income	$1.1B	$1.1B	$365M	2.6%	210.0%
Gross Margin	65.4%	66.0%	62.3%	-0.6pp	3.0pp
Net Margin	29.6%	28.8%	10.4%	0.8pp	19.2pp
EPS (Diluted)	$1.88	$1.82	$0.53	3.3%	254.7%
Free Cash Flow	$1.2B	$845M	$745M	45.6%	65.1%

Revenue Flow

Item	Amount
REVENUE	$3.2B
Cost of Revenue	$1.1B
GROSS PROFIT	$2.1B
R&D Expenses	$414M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$326M
Other Expenses	$253M
Operating Expenses	$994M
Cost & Expenses	$2.1B
OPERATING INCOME	$1.1B
Interest Income	$11M
Interest Expense	$60M
Other Income/Expenses	-$57M
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$112M
Net Income from Continuing Ops	$961M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$961M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$961M
D&A	$587M
EBIT	$1.1B
EBITDA	$1.7B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$3.2B
Cost of Revenue	$1.1B
GROSS PROFIT	$2.1B
R&D Expenses	$414M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$326M
Other Expenses	$253M
Operating Expenses	$994M
Cost & Expenses	$2.1B
OPERATING INCOME	$1.1B
Interest Income	$11M
Interest Expense	$60M
Other Income/Expenses	-$57M
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$112M
Net Income from Continuing Ops	$961M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$961M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$961M
D&A	$587M
EBIT	$1.1B
EBITDA	$1.7B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$961M
Depreciation & Amortization	$587M
Stock-Based Compensation	$75M
Deferred Income Tax	-$146M
Other Non-Cash Items	$10M
Change in Working Capital	-$81M
OPERATING CASH FLOW	$1.4B
Capital Expenditure	-$176M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$102.0K
NET CASH FROM INVESTING	-$176M
Net Debt Issuance	$0
Common Stock Repurchased	-$655M
Common Dividends Paid	-$385M
Other Financing Activities	$10M
NET CASH FROM FINANCING	-$1.0B
FREE CASH FLOW	$1.2B
Net Change in Cash	$200M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.7B
Short-Term Investments	$0
Net Receivables	$1.6B
Inventory	$1.5B
Other Current Assets	$338M
TOTAL CURRENT ASSETS	$5.2B
PP&E (Net)	$2.5B
Goodwill	$26.9B
Intangible Assets	$12.8B
Long-Term Investments	$0
Tax Assets	$2.3B
Other Non-Current Assets	$605M
TOTAL NON-CURRENT ASSETS	$45.1B
TOTAL ASSETS	$50.2B
Account Payables	$535M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$2.4B
Long-Term Debt	$6.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$3.5B
Other Non-Current Liabilities	$1.2B
TOTAL NON-CURRENT LIABILITIES	$11.3B
TOTAL LIABILITIES	$13.7B
Common Stock	$84M
Additional Paid-In Capital	$27.3B
Retained Earnings	$9.3B
Treasury Stock	$0
Accum. Other Comp. Income	-$170M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$36.5B
Minority Interest	$0
TOTAL EQUITY	$36.5B
TOTAL LIABILITIES & EQUITY	$50.2B
Total Debt	$6.5B
Net Debt	$4.9B