Adobe Income Statement

Financials in millions USD. Fiscal year is December - November.

Millions USD. Fiscal year is Dec - Nov.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Feb '26 Feb 27, 2026	Nov '25 Nov 28, 2025	Nov '24 Nov 29, 2024	Dec '23 Dec 1, 2023	Dec '22 Dec 2, 2022	Dec '21 Dec 3, 2021
Revenue	24,453	23,769	21,505	19,409	17,606	15,785
Revenue Growth (YoY)	10.96%	10.53%	10.80%	10.24%	11.54%	22.67%
Cost of Revenue	2,593	2,551	2,358	2,354	2,165	1,865
Gross Profit	21,860	21,218	19,147	17,055	15,441	13,920
Selling, General & Admin	8,370	8,061	7,293	6,764	6,187	5,406
Depreciation & Amortization Expenses	151	157	169	168	169	172
Research & Development	4,378	4,294	3,944	3,473	2,987	2,540
Other Operating Expenses	-	-	1,000	-	-	-
Operating Income	8,961	8,706	6,741	6,650	6,098	5,802
Interest Expense	-264	-263	-169	-113	-112	-113
Other Non-Operating Income (Expense)	277	291	359	262	22	16
Total Non-Operating Income (Expense)	13	28	190	149	-90	-97
Pretax Income	8,974	8,734	6,931	6,799	6,008	5,705
Provision for Income Taxes	1,766	1,604	1,371	1,371	1,252	883
Net Income	7,208	7,130	5,560	5,428	4,756	4,822
Net Income to Common	7,208	7,130	5,560	5,428	4,756	4,822
Net Income Growth	6.77%	28.24%	2.43%	14.13%	-1.37%	-8.33%
Shares Outstanding (Basic)	420	426	447	457	470	477
Shares Outstanding (Diluted)	420	427	450	459	471	481
Shares Change (YoY)	-5.57%	-5.11%	-1.96%	-2.53%	-2.10%	-0.93%
EPS (Basic)	17.18	16.73	12.43	11.87	10.13	10.10
EPS (Diluted)	17.17	16.70	12.36	11.82	10.10	10.02
EPS Growth	13.11%	35.11%	4.57%	17.03%	0.80%	-7.48%
Free Cash Flow	10,317	9,852	7,873	6,942	7,396	6,882
Free Cash Flow Growth	4.72%	25.14%	13.41%	-6.14%	7.47%	29.65%
Free Cash Flow Per Share	24.55	23.07	17.50	15.12	15.71	14.31
Gross Margin	89.40%	89.27%	89.04%	87.87%	87.70%	88.18%
Operating Margin	36.65%	36.63%	31.35%	34.26%	34.64%	36.76%
Profit Margin	29.48%	30.00%	25.85%	27.97%	27.01%	30.55%
FCF Margin	42.19%	41.45%	36.61%	35.77%	42.01%	43.60%
EBITDA	9,736	9,524	7,598	7,522	6,954	6,590
EBITDA Margin	39.82%	40.07%	35.33%	38.76%	39.50%	41.75%
EBIT	8,961	8,706	6,741	6,650	6,098	5,802
EBIT Margin	36.65%	36.63%	31.35%	34.26%	34.64%	36.76%
Effective Tax Rate	19.68%	18.37%	19.78%	20.16%	20.84%	15.48%

Updated Feb 27, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.