Adobe Inc. is an American multinational software company that provides digital media creation, document management, and digital marketing solutions. Operating globally, the company is best known for its industry-standard creative tools, including Photoshop, Illustrator, and Premiere Pro, as well as its widely used Acrobat PDF software. Adobe delivers its products primarily through a cloud-based subscription model, serving a diverse customer base ranging from individual creators to large enterprises.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Total Revenues
23,769,000
21,505,000
19,409,000
17,606,000
Cost of Sales
2,551,000
2,358,000
2,354,000
2,165,000
Gross Profit
21,218,000
19,147,000
17,055,000
15,441,000
Selling, General & Administrative Expenses
8,061,000
7,293,000
6,764,000
6,187,000
Depreciation & Amortization Expenses
157,000
169,000
168,000
169,000
Research & Development Expenses
4,294,000
3,944,000
3,473,000
2,987,000
Other Operating Expenses
—
1,000,000
—
—
Operating Profit
8,706,000
6,741,000
6,650,000
6,098,000
Interest Expense
(263,000)
(169,000)
(113,000)
(112,000)
Non-Operating Income
291,000
359,000
262,000
22,000
Total Non-Operating Income
28,000
190,000
149,000
(90,000)
Income Before Provision for Income Taxes
8,734,000
6,931,000
6,799,000
6,008,000
Provision for Income Taxes
1,604,000
1,371,000
1,371,000
1,252,000
Consolidated Net Income
7,130,000
5,560,000
5,428,000
4,756,000
Net Income Attributable to Common Shareholders
7,130,000
5,560,000
5,428,000
4,756,000
Basic EPS
16.73
12.43
11.87
10.13
Diluted EPS
16.70
12.36
11.82
10.10
Basic Weighted Average Shares Outstanding
426,000
447,000
457,000
469,500
Diluted Weighted Average Shares Outstanding
427,000
450,000
459,000
470,900
Shares Outstanding
413,000
441,000
455,000
462,000
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
5,431,000
7,613,000
7,141,000
4,236,000
Short-Term Investments
1,164,000
273,000
701,000
1,860,000
Total Cash and Cash Equivalents
6,595,000
7,886,000
7,842,000
6,096,000
Accounts Receivable
2,344,000
2,072,000
2,224,000
2,065,000
Total Trade Receivables
2,344,000
2,072,000
2,224,000
2,065,000
Other Current Assets
1,224,000
1,274,000
1,018,000
835,000
Total Current Assets
10,163,000
11,232,000
11,084,000
8,996,000
Net Property, Plant & Equipment
2,185,000
2,217,000
2,388,000
2,315,000
Net Intangible Assets
495,000
782,000
1,088,000
1,449,000
Goodwill
12,857,000
12,788,000
12,805,000
12,787,000
Other Long-Term Assets
3,796,000
3,211,000
2,414,000
1,618,000
Total Assets
29,496,000
30,230,000
29,779,000
27,165,000
Accounts Payable
417,000
361,000
314,000
379,000
Accrued Expenses
2,648,000
2,336,000
1,942,000
1,790,000
Short-Term Debt
—
1,499,000
—
500,000
Current Portion of Leases
77,000
75,000
73,000
87,000
Unearned Revenue
6,905,000
6,131,000
5,837,000
5,297,000
Other Current Liabilities
153,000
119,000
85,000
75,000
Total Current Liabilities
10,200,000
10,521,000
8,251,000
8,128,000
Long-Term Debt
6,210,000
4,129,000
3,634,000
3,629,000
Leases
361,000
353,000
373,000
417,000
Other Long-Term Liabilities
1,102,000
1,122,000
1,003,000
940,000
Total Long-Term Liabilities
7,673,000
5,604,000
5,010,000
4,986,000
Total Liabilities
17,873,000
16,125,000
13,261,000
13,114,000
Treasury Stock
(48,847,000)
(37,583,000)
(28,129,000)
(23,843,000)
Additional Paid-in Capital
15,361,000
13,419,000
11,586,000
9,868,000
Accumulated Other Comprehensive Income
(245,000)
(201,000)
(285,000)
(293,000)
Retained Earnings
45,354,000
38,470,000
33,346,000
28,319,000
Total Common Shareholders' Equity
11,623,000
14,105,000
16,518,000
14,051,000
Total Shareholders' Equity
11,623,000
14,105,000
16,518,000
14,051,000
Total Liabilities and Shareholders' Equity
29,496,000
30,230,000
29,779,000
27,165,000
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
7,130,000
5,560,000
5,428,000
4,756,000
Depreciation & Amortization
818,000
857,000
872,000
856,000
Share-Based Compensation Expense
1,942,000
1,833,000
1,718,000
1,440,000
Other Adjustments
(464,000)
(338,000)
(361,000)
450,000
Changes in Trade Receivables
(275,000)
143,000
(159,000)
(198,000)
Changes in Accounts Payable
64,000
44,000
(49,000)
66,000
Changes in Accrued Expenses
180,000
196,000
146,000
7,000
Changes in Income Taxes Payable
(45,000)
68,000
(11,000)
19,000
Changes in Unearned Revenue
771,000
309,000
536,000
536,000
Changes in Other Operating Activities
(90,000)
(616,000)
(818,000)
(94,000)
Cash from Operating Activities
10,031,000
8,056,000
7,302,000
7,838,000
Capital Expenditure
(179,000)
(183,000)
(360,000)
(442,000)
Purchases of Investments
(2,034,000)
(59,000)
—
(909,000)
Proceeds from Sale of Investments
1,177,000
499,000
1,189,000
953,000
Payments for Business Acquisitions
(17,000)
—
—
(126,000)
Other Investing Activities
(134,000)
(108,000)
(53,000)
(46,000)
Cash from Investing Activities
(1,187,000)
149,000
776,000
(570,000)
Issuance of Long-Term Debt
1,997,000
1,997,000
—
—
Repayments of Long-Term Debt
(1,500,000)
—
(500,000)
—
Net Issuance / (Repayments) of Long-Term Debt
497,000
1,997,000
(500,000)
—
Issuance of Common Shares
348,000
361,000
314,000
278,000
Repurchases of Common Shares
(11,281,000)
(9,500,000)
(4,400,000)
(6,550,000)
Net Issuance / (Repurchases) of Common Shares
(10,933,000)
(9,139,000)
(4,086,000)
(6,272,000)
Other Financing Activities
(624,000)
(582,000)
(596,000)
(553,000)
Cash from Financing Activities
(11,060,000)
(7,724,000)
(5,182,000)
(6,825,000)
Effect of Exchange Rate Changes on Cash and Cash Equivalents
34,000
(9,000)
9,000
(51,000)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash