Analog Devices Inc (ADI)

Debt-to-assets ratio

		Oct 28, 2023	Oct 29, 2022	Oct 30, 2021	Oct 31, 2020	Nov 2, 2019
Long-term debt	US$ in thousands	5,902,460	6,548,620	6,253,210	5,145,100	5,192,250
Total assets	US$ in thousands	48,794,500	50,302,400	52,322,100	21,468,600	21,392,600
Debt-to-assets ratio		0.12	0.13	0.12	0.24	0.24

October 28, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $5,902,460K ÷ $48,794,500K
= 0.12

Analog Devices Inc.'s debt-to-assets ratio has exhibited a generally declining trend over the past five years, indicating a positive development in its financial leverage and ability to cover its debt obligations with its assets. The ratio decreased from 0.26 in November 2019 to 0.14 in October 2023, which suggests that the company has been able to reduce its reliance on debt financing in relation to its total assets. This improvement may enhance the company's financial stability and reduce its risk of financial distress. However, further analysis of the company's financial statements and industry benchmarks is recommended to gain a more comprehensive understanding of its financial health.