ADBE

Company financials

Adobe Inc.

Information Technology Application Software San Jose, California Last filing Jan 15, 2026 · FY2025

                    Revenue
                    FY2025
                
$23.8B
                    3y CAGR +10.5%
                    
                    P67
                    
                    n/a
                    
                    Net income
                    FY2025
                
$7.1B
                    Net margin +30.0%
                    
                    P86
                    
                    n/a
                    
                    Total assets
                    FY2025
                
$29.5B
                    ROA +24.2%
                    
                    P91
                    
                    n/a
                    
                    Operating cash flow
                    FY2025
                
$10.0B
                    FCF margin +41.4%
                    
                    P95
                    
                    n/a

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

34 accounts · 1 year

Total assets $29.5B

Total liabilities $17.9B

Shareholders equity $11.6B

Account	2025	Trend
Assets
Cash and Cash Equivalents	22.8%
Short Term Investments	4.9%
Accounts Receivable	9.9%
Prepaid Expenses	5.1%
Other Current Assets	6.8%
Total Current Assets	42.8%
Property,Plant and Equipment	7.9%
Operating Lease Assets	1.3%
Goodwill	54.1%
Intangible Assets	2.1%
Deferred Tax Assets	9.2%
Other Noncurrent Assets	6.8%
Total Assets	124.1%
Liabilities
Accounts Payable	1.8%
Accrued Liabilities	11.1%
Deferred Revenue	29.1%
Current Portion of Long Term Debt	0.0%
Operating Lease Liabilities	0.3%
Other Current Liabilities	2.1%
Total Current Liabilities	42.9%
Long Term Debt	26.1%
Deferred Revenue Noncurrent	0.5%
Operating Lease Liabilities Noncurrent	1.5%
Deferred Tax Liabilities	0.0%
Other Noncurrent Liabilities	2.1%
Total Liabilities	75.2%
Equity
Preferred Stock	0.0%
Common Stock	0.0%
Additional Paid In Capital	64.6%
Retained Earnings	190.8%
Treasury Stock	205.5%
Accumulated Other Comprehensive Income	-1.0%
Total Stockholders Equity	48.9%
Total Liabilitiesand Equity	124.1%

Income Statement

Revenue, expense, and profitability

18 accounts · 1 year

Revenue $23.8B

Operating income $8.7B

Net income $7.1B

Account	2025	Trend
IncomeStatement
Revenues Total Revenue	100.0%
Expenses Cost of Revenue	10.7%
Expenses Selling,General and Administrative	6.6%
Expenses Depreciation and Amortization	3.4%
Expenses Share Based Compensation	8.2%
Expenses Operating Expenses	52.6%
Other Income Expense Gross Profit	89.3%
Other Income Expense Operating Income	36.6%
Other Income Expense Interest Income	1.1%
Other Income Expense Other Income/expense	1.0%
Other Income Expense Income Before Tax	36.7%
Income Tax Income Tax Expense	6.7%
net Income net Income	30.0%
net Income Comprehensive Income	29.8%
Earnings Per Share Basic Eps	0.0%
Earnings Per Share Diluted Eps	0.0%
Earnings Per Share Weighted Average Shares Basic	1.8%
Earnings Per Share Weighted Average Shares Diluted	1.8%

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 1 year

Operating cash flow $10.0B

Investing cash flow $-1.2B

Financing cash flow $-11.1B

Account	2025	Trend
CashFlow
Operating Activities net Income	30.0%
Operating Activities Depreciation and Amortization	3.4%
Operating Activities Stock Based Compensation	8.2%
Operating Activities Deferred Income Taxes	-2.2%
Operating Activities Changes In Operating Assets and Liabilities	4.6%
Operating Activities net Cash From Operating Activities	42.2%
Investing Activities Capital Expenditures	0.8%
Investing Activities Business Acquisitions	0.1%
Investing Activities Other Investing Activities	-0.0%
Investing Activities net Cash From Investing Activities	-5.0%
Financing Activities Proceeds From Debt	8.4%
Financing Activities Repayment of Debt	6.3%
Financing Activities Repurchase of Common Stock	47.5%
Financing Activities Tax Withholding On Stock Based Compensation	2.0%
Financing Activities Other Financing Activities	-0.6%
Financing Activities net Cash From Financing Activities	-46.5%
Cash Reconciliation Effect of Exchange Rate On Cash	0.1%
Cash Reconciliation net Change In Cash	-9.2%
Cash Reconciliation Cash At Beginning of Period	22.8%
Cash Reconciliation Cash At End of Period	22.8%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 1 year

Ratio	2025
Profitability
Gross margin	+89.3%
Operating margin	+36.6%
Net margin	+30.0%
FCF margin	+41.4%
Growth
Revenue CAGR (3y)	+10.5%
Returns
ROE	+61.3%
ROA	+24.2%
ROIC	+57.3%
Liquidity
Current ratio	1.00x
Quick ratio	0.76x
Leverage
D/E	1.54x
Interest coverage	—
Efficiency
Asset turnover	0.81x
Cash conversion cycle	—

Valuation

Price against fundamentals

ADBE $349 · 2025-09-12 · 368d old · FY2025

Market cap $149.2B

P/E 20.92x

P/S 6.28x

P/B 12.83x

EV $150.0B

EV/EBITDA 15.75x

FCF yield +6.6%

Dividend yield —

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Adobe Inc.

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