ADB Adobe ADBE · Nasdaq · Technology
SEC EDGAR ↗ SEC EDGAR Filings checked 23 Oct 2026, 16:23 UTC Financials checked 23 Oct 2026, 16:23 UTC
Some records were last checked more than 24 hours ago. These are the last verified records; check the official source for the latest filings.
Annual reporting period: 2024-11-30 — 2025-11-28 · USD
Annual revenue $23.77B Year over year +10.5%
Annual net income $7.13B Consolidated net income
Annual operating income $8.71B Consolidated basis
Operating margin 36.6% Operating income / revenue
Revenue over time ANNUAL
2017-12-01 · 7,301,505,000 USD
2017 $7.3B
2018-11-30 · 9,030,000,000 USD
2018 $9.03B
2019-11-29 · 11,171,000,000 USD
2019 $11.17B
2020-11-27 · 12,868,000,000 USD
2020 $12.87B
2021-12-03 · 15,785,000,000 USD
2021 $15.79B
2022-12-02 · 17,606,000,000 USD
2022 $17.61B
2023-12-01 · 19,409,000,000 USD
2023 $19.41B
2024-11-29 · 21,505,000,000 USD
2024 $21.51B
2025-11-28 · 23,769,000,000 USD
2025 $23.77B Each bar is one fiscal year of revenue, ending on the date shown.
Income statement CONSOLIDATED Line 2025 11-28 2024 11-29 2023 12-01 2022 12-02 2021 12-03 2020 11-27 2019 11-29 2018 11-30 2017 12-01 Revenue $23.77B $21.51B $19.41B $17.61B $15.79B $12.87B $11.17B $9.03B $7.3B Cost of revenue $2.55B $2.36B $2.35B $2.17B $1.87B $1.72B $1.67B $1.2B $1.01B Gross profit $21.22B $19.15B $17.06B $15.44B $13.92B $11.15B $9.5B $7.84B $6.29B Selling, general and administrative $1.57B $1.53B $1.41B $1.22B $1.09B $968M $881M $745M $624.71M Operating expenses $12.51B $12.41B $10.41B $9.34B $8.12B $6.91B $6.23B $5B $4.12B Operating income $8.71B $6.74B $6.65B $6.1B $5.8B $4.24B $3.27B $2.84B $2.17B Non-operating income $28M $190M $149M $-90M $-97M $-61M $-63M $-46M $-30.45M Income tax expense $1.6B $1.37B $1.37B $1.25B $883M $-1.08B $254M $203M $443.69M Net income $7.13B $5.56B $5.43B $4.76B $4.82B $5.26B $2.95B $2.59B $1.69B Basic EPS 16.73 12.43 11.87 10.13 10.10 10.94 6.07 5.28 3.43 Diluted EPS 16.70 12.36 11.82 10.10 10.02 10.83 6.00 5.20 3.38 Diluted shares outstanding 0.43B 0.45B 0.46B 0.47B 0.48B 0.49B 0.49B 0.50B 0.50B
Balance sheet CONSOLIDATED Line 2025 11-28 2024 11-29 2023 12-01 2022 12-02 2021 12-03 2020 11-27 2019 11-29 2018 11-30 2017 12-01 Total assets $29.5B $30.23B $29.78B $27.17B $27.24B $24.28B $20.76B $18.77B $14.54B Current assets $10.16B $11.23B $11.08B $9B $8.67B $8.15B $6.5B $4.86B $7.25B Cash and equivalents $5.43B $7.61B $7.14B $4.24B $3.84B $4.48B $2.65B $1.64B $2.31B Short-term investments $1.16B $273M $701M $1.86B $1.95B $1.51B $1.53B $1.59B $3.51B Accounts receivable $2.34B $2.07B $2.22B $2.07B $1.88B $1.4B $1.54B $1.32B $1.22B Property, plant and equipment $1.87B $1.94B $2.03B $1.91B $1.67B $1.52B $1.29B $1.08B $936.98M Total liabilities $17.87B $16.13B $13.26B $13.11B $12.44B $11.02B $10.23B $9.41B $6.08B Current liabilities $10.2B $10.52B $8.25B $8.13B $6.93B $5.51B $8.19B $4.3B $3.53B Accounts payable $417M $361M $314M $379M $312M $306M $209M $186.26M $113.54M Short-term debt $0M $1.5B — — — — — — — Long-term debt $6.21B $4.13B $3.63B $3.63B $4.12B $4.12B $989M — — Shareholders' equity $11.62B $14.11B $16.52B $14.05B $14.8B $13.26B $10.53B $9.36B $8.46B Retained earnings $45.35B $38.47B $33.35B $28.32B $23.91B $19.61B $14.83B $11.82B $9.57B
Cash flow statement CONSOLIDATED Line 2025 11-28 2024 11-29 2023 12-01 2022 12-02 2021 12-03 2020 11-27 2019 11-29 2018 11-30 2017 12-01 Operating cash flow $10.03B $8.06B $7.3B $7.84B $7.23B $5.73B $4.42B $4.03B $2.91B Investing cash flow $-1.19B $149M $776M $-570M $-3.54B $-414M $-456M $-4.69B $-442.88M Financing cash flow $-11.06B $-7.72B $-5.18B $-6.83B $-4.3B $-3.49B $-2.95B $-5M $-1.18B Capital expenditure $179M $183M $360M $442M $348M $419M $395M $267M $178.12M Depreciation and amortisation $818M $857M $872M $856M $788M $757M $757M $346M $326M Share buybacks $11.28B $9.5B $4.4B $6.55B $3.95B $3.05B $2.75B $2.05B $1.1B
Key ratios COMPUTED HERE Line 2025 11-28 2024 11-29 2023 12-01 2022 12-02 2021 12-03 2020 11-27 2019 11-29 2018 11-30 2017 12-01 Gross margin 89.3% 89.0% 87.9% 87.7% 88.2% 86.6% 85.0% 86.8% 86.2% Operating margin 36.6% 31.3% 34.3% 34.6% 36.8% 32.9% 29.3% 31.5% 29.7% Net margin 30.0% 25.9% 28.0% 27.0% 30.5% 40.9% 26.4% 28.7% 23.2% Return on equity 61.3% 39.4% 32.9% 33.8% 32.6% 39.7% 28.0% 27.7% 20.0% Return on assets 24.2% 18.4% 18.2% 17.5% 17.7% 21.7% 14.2% 13.8% 11.7% Asset turnover 0.81× 0.71× 0.65× 0.65× 0.58× 0.53× 0.54× 0.48× 0.50× Current ratio 1.00× 1.07× 1.34× 1.11× 1.25× 1.48× 0.79× 1.13× 2.05× Debt to equity 153.8% 114.3% 80.3% 93.3% 84.1% 83.1% 97.2% 100.5% 71.8% Net debt $779M $-1.98B $-3.51B $-607M $279M $-361M $-1.66B $-1.64B $-2.31B Free cash flow $9.85B $7.87B $6.94B $7.4B $6.88B $5.31B $4.03B $3.76B $2.73B
Amounts are as filed. An em dash means that line was not reported, not that it is nil; rows marked “computed” and the whole key-ratios table are worked out here from those amounts.
About this record 9 fiscal years from 2017 to 2025, covering 31 statement lines, collected from SEC EDGAR. The most recent was confirmed on 2026-01-15.
Its 36.63% operating margin in the latest fiscal year is at or above 82% of the 45 listed companies collected here, closest to Broadcom 39.89% and Alphabet 32.03%.
The fiscal year does not follow the calendar: the most recent one ran from 2024-11-30 to 2025-11-28. Set beside a December-year company it would be two different twelve-month periods compared as one.
This page offers no investment view or forecast about Adobe. The amounts are as the company filed them, the ratios follow from those amounts, and no currency is converted.
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