NASDAQ · Financial Statements

Adobe Inc. (ADBE) Financial Statements

$263.82 NASDAQ: ADBE Market Cap $102.68B

Adobe Inc. most recently reported annual revenue of $23.8B, net profit of $7.1B. Revenue grew at an average annual rate of 13.1% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Adobe Inc.: Revenue rose from $5.9B in 2016 to $23.8B in 2025, a change of +306.0% over 9 years; net profit was positive in all 10 reported years; operating margin moved from 25.5% to 36.6%, a shift of +11.1 percentage points; the most recent year shows net profit of $7.1B.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$5.9B$7.3B$9.0B$11.2B$12.9B$15.8B$17.6B$19.4B$21.5B$23.8B
Operating Expenses$4.4B$5.1B$6.2B$7.9B$8.6B$10.0B$11.5B$12.8B$14.8B$15.1B
Operating Profit$1.5B$2.2B$2.8B$3.3B$4.2B$5.8B$6.1B$6.7B$6.7B$8.7B
Operating Margin25.5%29.7%31.4%29.3%32.9%36.8%34.6%34.3%31.4%36.6%
Other Income$-58.0M$-30.0M$-46.0M$-63.0M$-61.0M$-97.0M$-90.0M$149.0M$190.0M$28.0M
Interest$70.0M$74.0M$89.0M$157.0M$116.0M$113.0M$112.0M$113.0M$164.0M$263.0M
Depreciation$332.0M$326.0M$346.0M$737.0M$757.0M$861.0M$939.0M$872.0M$857.0M$818.0M
Profit Before Tax$1.4B$2.1B$2.8B$3.2B$4.2B$5.7B$6.0B$6.8B$6.9B$8.7B
Tax$18.6M$20.8M$7.3M$7.9M$-26.0M$15.5M$20.8M$20.2M$19.8M$18.4M
Net Profit$1.2B$1.7B$2.6B$3.0B$5.3B$4.8B$4.8B$5.4B$5.6B$7.1B
EPS$2.32$3.38$5.20$6.00$10.83$10.02$10.10$11.83$12.36$16.70
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$4.9B$5.0B$5.2B$5.3B$5.4B$5.6B$5.7B$5.9B$6.0B$6.2B$6.4B$6.6B
Operating Expenses$3.2B$3.3B$4.3B$3.4B$3.4B$3.6B$3.6B$3.8B$3.8B$3.9B$4.0B$4.4B
Operating Profit$1.7B$1.7B$907.0M$1.9B$2.0B$2.0B$2.2B$2.1B$2.2B$2.3B$2.4B$2.2B
Operating Margin34.7%34.5%17.5%35.5%36.8%34.9%37.9%35.9%36.3%36.5%37.8%33.8%
Interest$27.0M$28.0M$27.0M$41.0M$51.0M$50.0M$62.0M$68.0M$67.0M$66.0M$63.0M$65.0M
Profit Before Tax$1.7B$1.8B$968.0M$1.9B$2.0B$2.0B$2.2B$2.1B$2.2B$2.3B$2.4B$2.2B
Tax$19.5M$18.0M$36.0M$18.5M$17.5M$15.5M$17.0M$19.5M$19.0M$18.0M$22.0M$23.5M
Net Profit$1.4B$1.5B$620.0M$1.6B$1.7B$1.7B$1.8B$1.7B$1.8B$1.9B$1.9B$1.7B
EPS$3.05$3.23$1.36$3.49$3.76$3.80$4.13$3.95$4.18$4.45$4.60$4.25

Over the 10 years reported for Adobe Inc., borrowings increased from $1.9B in 2016 to $6.6B in 2025, cash stood at $5.4B in the latest year, shareholders' equity was $0, current assets covered current liabilities 1.00 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$12.7B$14.5B$18.8B$20.8B$24.3B$27.2B$27.2B$29.8B$30.2B$29.5B
Current Assets$5.8B$7.2B$4.9B$6.5B$8.1B$8.7B$9.0B$11.1B$11.2B$10.2B
Cash$1.0B$2.3B$1.6B$2.6B$4.5B$3.8B$4.2B$7.1B$7.6B$5.4B
Inventory$0$0$0$0$0$0$0$0$0$0
Receivables$833.0M$1.2B$1.3B$1.5B$1.4B$1.9B$2.1B$2.2B$2.1B$2.3B
Fixed Assets$816.0M$937.0M$1.1B$1.3B$2.0B$2.1B$2.3B$2.4B$2.2B$2.2B
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$3.8B$3.5B$1.6B$1.5B$1.5B$2.0B$1.9B$701.0M$273.0M$1.2B
Other Assets$5.4B$5.8B$10.6B$10.7B$10.7B$12.7B$12.8B$12.8B$12.8B$12.9B
Total Liabilities$5.3B$6.1B$9.4B$10.2B$11.0B$12.4B$13.1B$13.3B$16.1B$17.9B
Current Liabilities$2.8B$3.5B$4.3B$8.2B$5.5B$6.9B$8.1B$8.3B$10.5B$10.2B
Borrowings$1.9B$1.9B$4.1B$4.1B$4.7B$4.7B$4.6B$4.1B$6.1B$6.6B
Other Liabilities$3.4B$4.2B$5.3B$6.1B$6.3B$7.8B$8.5B$9.2B$10.1B$11.2B
Equity$0$0$0$0$0$0$0$0$0$0
Reserves$7.4B$8.5B$9.4B$10.5B$13.3B$14.8B$14.1B$16.5B$14.1B$11.6B

For Adobe Inc., operating cash flow was positive in 10 of 10 reported years; free cash flow in the latest year was $9.9B; free cash flow was positive in 10 of 10 years; financing activities used $11.7B in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$2.2B$2.9B$4.0B$4.4B$5.7B$7.2B$7.8B$7.3B$8.1B$10.0B
Investing Cash Flow$-1.2B$-621.0M$-5.0B$-789.0M$-833.0M$-3.9B$-1.0B$416.0M$-83.0M$-1.4B
Financing Cash Flow$-1.2B$-1.3B$-1.9B$-3.2B$-2.8B$-4.6B$-7.1B$-5.0B$-9.9B$-11.7B
Net Cash Flow$135.0M$1.3B$-663.0M$1.0B$1.8B$-634.0M$392.0M$2.9B$472.0M$-2.2B
Free Cash Flow$2.0B$2.7B$3.8B$4.1B$5.3B$6.9B$7.4B$6.9B$7.8B$9.9B

Valuation & Return Ratios

MetricValue
PEG Ratio1.13
EV / EBITDA9.38
FCF Yield11.69%
Quick Ratio0.77
Interest Coverage35.66
Return 1Y-25.50%
Return 3Y-51.10%
Return 5Y-59.80%

Adobe Inc. (ADBE) financials — frequently asked questions

What is Adobe Inc.'s annual revenue?

Adobe Inc. (ADBE) reported annual revenue of $23.8B in its most recent fiscal year.

What is Adobe Inc.'s net profit?

Adobe Inc. (ADBE) reported net profit of $7.1B in its most recent fiscal year.

What is ADBE EV/EBITDA?

Adobe Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is 9.38.

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