Adobe Inc. (ADBE)

Adobe Income Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Aug 29, 2025	Nov 29, 2024	Dec 1, 2023	Dec 2, 2022	Dec 3, 2021	Nov 27, 2020
Revenue	23,181	21,505	19,409	17,606	15,785	12,868
Revenue Growth (YoY)	10.66%	10.80%	10.24%	11.54%	22.67%	15.19%
Cost of Revenue	2,518	2,358	2,354	2,165	1,865	1,722
Gross Profit	20,663	19,147	17,055	15,441	13,920	11,146
Selling, General & Admin	7,826	7,215	6,764	6,187	5,406	4,559
Research & Development	4,195	3,944	3,473	2,987	2,540	2,188
Amortization of Goodwill & Intangibles	162	169	168	169	172	162
Operating Expenses	12,183	11,328	10,405	9,343	8,118	6,909
Operating Income	8,480	7,819	6,650	6,098	5,802	4,237
Interest Expense	-247	-169	-113	-112	-113	-116
Interest & Investment Income	341	341	269	61	17	43
Currency Exchange Gain (Loss)	-29	-29	-17	-21	-17	-2
Other Non Operating Income (Expenses)	-50	-	1	1	-	1
EBT Excluding Unusual Items	8,495	7,962	6,790	6,027	5,689	4,163
Merger & Restructuring Charges	-	-1,000	-	-	-	-
Gain (Loss) on Sale of Investments	44	47	9	-19	16	13
Asset Writedown	-78	-78	-	-	-	-
Pretax Income	8,461	6,931	6,799	6,008	5,705	4,176
Income Tax Expense	1,504	1,371	1,371	1,252	883	-1,084
Net Income	6,957	5,560	5,428	4,756	4,822	5,260
Net Income to Common	6,957	5,560	5,428	4,756	4,822	5,260
Net Income Growth	29.79%	2.43%	14.13%	-1.37%	-8.33%	78.25%
Shares Outstanding (Basic)	432	447	457	470	477	481
Shares Outstanding (Diluted)	434	450	459	471	481	486
Shares Change (YoY)	-4.42%	-2.05%	-2.51%	-2.10%	-0.93%	-1.24%
EPS (Basic)	16.09	12.44	11.87	10.13	10.10	10.94
EPS (Diluted)	16.05	12.36	11.82	10.10	10.02	10.83
EPS Growth	35.82%	4.57%	17.03%	0.80%	-7.48%	80.50%
Free Cash Flow	9,599	7,873	6,942	7,396	6,882	5,308
Free Cash Flow Per Share	22.14	17.51	15.12	15.71	14.31	10.93
Gross Margin	89.14%	89.03%	87.87%	87.70%	88.19%	86.62%
Operating Margin	36.58%	36.36%	34.26%	34.64%	36.76%	32.93%
Profit Margin	30.01%	25.85%	27.97%	27.01%	30.55%	40.88%
Free Cash Flow Margin	41.41%	36.61%	35.77%	42.01%	43.60%	41.25%
EBITDA	9,060	8,404	7,268	6,716	6,378	4,808
EBITDA Margin	39.08%	39.08%	37.45%	38.15%	40.41%	37.36%
D&A For EBITDA	580	585	618	618	576	571
EBIT	8,480	7,819	6,650	6,098	5,802	4,237
EBIT Margin	36.58%	36.36%	34.26%	34.64%	36.76%	32.93%
Effective Tax Rate	17.78%	19.78%	20.16%	20.84%	15.48%	-
Revenue as Reported	23,181	21,505	19,409	17,606	15,785	12,868
Advertising Expenses	-	1,040	970	1,040	865	592

Updated Aug 29, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q