Adobe Inc. (ADBE)

Adobe Income Statement

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

Year	2023	2022	2021	2020	2019
Revenue	19,409	17,606	15,785	12,868	11,171
Revenue Growth (YoY)	10.24%	11.54%	22.67%	15.19%	23.71%
Cost of Revenue	2,354	2,165	1,865	1,722	1,673
Gross Profit	17,055	15,441	13,920	11,146	9,498
Selling, General & Admin	6,764	6,187	5,406	4,559	4,125
Research & Development	3,473	2,987	2,540	2,188	1,930
Other Operating Expenses	168	169	172	162	175
Operating Expenses	10,405	9,343	8,118	6,909	6,230
Operating Income	6,650	6,098	5,802	4,237	3,268
Interest Expense / Income	113	112	113	116	157
Other Expense / Income	-262	-22	-16	-55	-94
Pretax Income	6,799	6,008	5,705	4,176	3,205
Income Tax	1,371	1,252	883	-1,084	254
Net Income	5,428	4,756	4,822	5,260	2,951
Net Income Growth	14.13%	-1.37%	-8.33%	78.24%	13.89%
Shares Outstanding (Basic)	457	470	477	481	486
Shares Outstanding (Diluted)	459	471	481	485	492
Shares Change	-2.55%	-2.08%	-0.82%	-1.42%	-1.20%
EPS (Basic)	11.87	10.13	10.10	10.94	6.07
EPS (Diluted)	11.82	10.10	10.02	10.83	6.00
EPS Growth	17.03%	0.80%	-7.48%	80.50%	15.38%
Free Cash Flow	6,942	7,396	6,882	5,308	4,027
Free Cash Flow Per Share	15.19	15.74	14.43	11.04	8.29
Gross Margin	87.87%	87.70%	88.18%	86.62%	85.02%
Operating Margin	34.26%	34.64%	36.76%	32.93%	29.25%
Profit Margin	27.97%	27.01%	30.55%	40.88%	26.42%
Free Cash Flow Margin	35.77%	42.01%	43.60%	41.25%	36.05%
Effective Tax Rate	20.16%	20.84%	15.48%	-25.96%	7.93%
EBITDA	7,856	7,059	6,679	5,136	4,119
EBITDA Margin	40.48%	40.09%	42.31%	39.91%	36.87%
Depreciation & Amortization	944	939	861	844	757
EBIT	6,912	6,120	5,818	4,292	3,362
EBIT Margin	35.61%	34.76%	36.86%	33.35%	30.10%

Source: Financials are provided by Nasdaq Data Link and sourced from the audited annual (10-K) and quarterly (10-Q) reports submitted to the Securities and Exchange Commission (SEC).