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

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	$5.4B
Short Term Investments	$1.2B
Accounts Receivable	$2.3B
Prepaid Expenses	$1.2B
Other Current Assets	$1.6B
Total Current Assets	$10.2B
Property,Plant and Equipment	$1.9B
Operating Lease Assets	$312.0M
Goodwill	$12.9B
Intangible Assets	$495.0M
Deferred Tax Assets	$2.2B
Other Noncurrent Assets	$1.6B
Total Assets	$29.5B
Liabilities
Accounts Payable	$417.0M
Accrued Liabilities	$2.6B
Deferred Revenue	$6.9B
Current Portion of Long Term Debt	$0
Operating Lease Liabilities	$77.0M
Other Current Liabilities	$508.0M
Total Current Liabilities	$10.2B
Long Term Debt	$6.2B
Deferred Revenue Noncurrent	$125.0M
Operating Lease Liabilities Noncurrent	$361.0M
Deferred Tax Liabilities	$0
Other Noncurrent Liabilities	$508.0M
Total Liabilities	$17.9B
Equity
Preferred Stock	$0
Common Stock	$0
Additional Paid In Capital	$15.4B
Retained Earnings	$45.4B
Treasury Stock	$48.8B
Accumulated Other Comprehensive Income	$-245.0M
Total Stockholders Equity	$11.6B
Total Liabilitiesand Equity	$29.5B

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	$23.8B
Expenses Cost of Revenue	$2.6B
Expenses Selling,General and Administrative	$1.6B
Expenses Depreciation and Amortization	$818.0M
Expenses Share Based Compensation	$1.9B
Expenses Operating Expenses	$12.5B
Other Income Expense Gross Profit	$21.2B
Other Income Expense Operating Income	$8.7B
Other Income Expense Interest Income	$264.0M
Other Income Expense Other Income/expense	$248.0M
Other Income Expense Income Before Tax	$8.7B
Income Tax Income Tax Expense	$1.6B
net Income net Income	$7.1B
net Income Comprehensive Income	$7.1B
Earnings Per Share Basic Eps	$17
Earnings Per Share Diluted Eps	$17
Earnings Per Share Weighted Average Shares Basic	$426.2M
Earnings Per Share Weighted Average Shares Diluted	$427.0M

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	$7.1B
Operating Activities Depreciation and Amortization	$818.0M
Operating Activities Stock Based Compensation	$1.9B
Operating Activities Deferred Income Taxes	$-514.0M
Operating Activities Changes In Operating Assets and Liabilities	$1.1B
Operating Activities net Cash From Operating Activities	$10.0B
Investing Activities Capital Expenditures	$179.0M
Investing Activities Business Acquisitions	$17.0M
Investing Activities Other Investing Activities	$-3.0M
Investing Activities net Cash From Investing Activities	$-1.2B
Financing Activities Proceeds From Debt	$2.0B
Financing Activities Repayment of Debt	$1.5B
Financing Activities Repurchase of Common Stock	$11.3B
Financing Activities Tax Withholding On Stock Based Compensation	$475.0M
Financing Activities Other Financing Activities	$-149.0M
Financing Activities net Cash From Financing Activities	$-11.1B
Cash Reconciliation Effect of Exchange Rate On Cash	$34.0M
Cash Reconciliation net Change In Cash	$-2.2B
Cash Reconciliation Cash At Beginning of Period	$5.4B
Cash Reconciliation Cash At End of Period	$5.4B

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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