Company Valuation: Analog Devices, Inc.

Data adjusted to current consolidation scope
Fiscal Period: November 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 94,042 74,425 79,352 111,949 115,182 175,306 - -
Change - -20.86% 6.62% 41.08% 2.89% 52.2% - -
Enterprise Value (EV) 1 98,833 79,503 84,296 117,168 120,121 181,670 179,314 177,890
Change - -19.56% 6.03% 39% 2.52% 51.24% -1.3% -0.79%
P/E 50.6x 27.6x 24.3x 68.7x 51.3x 36.6x 26.6x 23.5x
PBR 1.85x 2.02x 2.22x 3.18x 3.44x 5.25x 5.03x 4.78x
PEG - 0.5x 1x -1.4x 1.3x 0x 0.7x 1.8x
Capitalization / Revenue 12.9x 6.19x 6.45x 11.9x 10.5x 11.6x 9.64x 8.64x
EV / Revenue 13.5x 6.62x 6.85x 12.4x 10.9x 12x 9.86x 8.77x
EV / EBITDA 29.6x 12.8x 13.8x 27.8x 18.1x 20.5x 16.9x 15.1x
EV / EBIT 31.8x 13.4x 14x 30.4x 26x 24.3x 19x 16.6x
EV / FCF 41.3x 21.1x 23.7x 37.5x 28.1x 34.3x 25.1x 22.9x
FCF Yield 2.42% 4.75% 4.22% 2.66% 3.56% 2.92% 3.99% 4.37%
Dividend per Share 2 2.76 2.97 3.44 3.62 3.96 4.254 4.705 5.126
Rate of return 1.58% 2.05% 2.16% 1.61% 1.69% 1.18% 1.3% 1.42%
EPS 2 3.46 5.25 6.55 3.28 4.56 9.897 13.58 15.39
Distribution rate 79.8% 56.6% 52.5% 110% 86.8% 43% 34.6% 33.3%
Net sales 1 7,318 12,014 12,306 9,427 11,020 15,092 18,180 20,286
EBITDA 1 3,335 6,223 6,120 4,216 6,621 8,852 10,592 11,795
EBIT 1 3,104 5,939 6,014 3,853 4,622 7,485 9,462 10,690
Net income 1 1,390 2,749 3,315 1,635 2,267 4,827 6,469 7,387
Net Debt 1 4,792 5,078 4,944 5,219 4,939 6,364 4,008 2,584
Reference price 2 174.99 144.70 159.24 225.48 234.13 361.78 361.78 361.78
Nbr of stocks (in thousands) 537,411 514,342 498,314 496,493 491,955 484,565 - -
Announcement Date 11/23/21 A 11/22/22 A 11/21/23 A 11/26/24 A 11/25/25 A - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
36.55x12.04x20.52x1.18% 175B
21.78x12.42x18.72x0.34% 5,253B
22.54x11.06x14.98x1.12% 1,982B
40.93x16.78x24.69x0.71% 1,755B
12.85x7.79x9.42x0.06% 1,054B
4.73x2.93x3.53x0.22% 874B
81.26x14.71x55.3x-.--% 760B
-38.78x7.82x21.76x-.--% 470B
190.21x41.47x84.56x-.--% 255B
30.41x11.04x20.45x2.22% 236B
Average 40.25x 13.81x 27.39x 0.59% 1,281B
Weighted average by Cap. 27.65x 12.29x 20.81x 0.49%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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