Cash flow Adobe Inc.

Equities

ADBE

US00724F1012

Software

Market Closed - Nasdaq Other stock markets 04:00:00 2025-05-23 pm EDT			5-day change	1st Jan Change
407.69 ^USD	-1.60%		-2.26%	-8.32%

May. 15	Viking Global Investors Reports Share Stake in Meta, Cuts in JPMorgan	RE
May. 15	Coatue Management Dissolves Stake In Qualcomm, Cuts In TSMC & AMD - Filing	RE

48a97.BPawYqQgMM4p5V9sBtjDyIAS72hOiAYaChM7jNuI2gw.Raz_FvMXWKthoSwBMrSp_MZjlwQJ5XQjZUpM4Pb-lGtIw8FawhhBp2-QLA

Published financial data: ADOBE INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: November	2020	2021	2022	2023	2024
Revenues	12.87B	15.78B	17.61B	19.41B	21.5B
Total Revenues	12.87B	15.78B	17.61B	19.41B	21.5B
Cost of Goods Sold, Total	1.72B	1.86B	2.16B	2.35B	2.36B
Gross Profit	11.15B	13.92B	15.44B	17.06B	19.15B
Selling General & Admin Expenses, Total	4.56B	5.41B	6.19B	6.76B	7.22B
R&D Expenses	2.19B	2.54B	2.99B	3.47B	3.94B
Amortization of Goodwill and Intangible Assets - (IS)	162M	172M	169M	168M	169M
Other Operating Expenses, Total	6.91B	8.12B	9.34B	10.4B	11.33B
Operating Income	4.24B	5.8B	6.1B	6.65B	7.82B
Interest Expense, Total	-116M	-113M	-112M	-113M	-169M
Interest And Investment Income	43M	17M	61M	269M	341M
Net Interest Expenses	-73M	-96M	-51M	156M	172M
Currency Exchange Gains (Loss)	-2M	-17M	-21M	-17M	-29M
Other Non Operating Income (Expenses)	-	-	1M	1M	-
EBT, Excl. Unusual Items	4.16B	5.69B	6.03B	6.79B	7.96B
Restructuring Charges	-	-	-	-	-
Merger & Related Restructuring Charges	-	-	-	-	-1B
Gain (Loss) On Sale Of Investments	14M	16M	-19M	9M	47M
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Asset Writedown	-	-	-	-	-78M
EBT, Incl. Unusual Items	4.18B	5.7B	6.01B	6.8B	6.93B
Income Tax Expense	-1.08B	883M	1.25B	1.37B	1.37B
Earnings From Continuing Operations	5.26B	4.82B	4.76B	5.43B	5.56B
Net Income to Company	5.26B	4.82B	4.76B	5.43B	5.56B
Net Income - (IS)	5.26B	4.82B	4.76B	5.43B	5.56B
Net Income to Common Incl Extra Items	5.26B	4.82B	4.76B	5.43B	5.56B
Net Income to Common Excl. Extra Items	5.26B	4.82B	4.76B	5.43B	5.56B
Per Share Items
Net EPS - Basic	10.94	10.1	10.13	11.87	12.44
Basic EPS - Continuing Operations	10.94	10.1	10.13	11.87	12.44
Basic Weighted Average Shares Outstanding	481M	477M	470M	457M	447M
Net EPS - Diluted	10.83	10.02	10.1	11.82	12.36
Diluted EPS - Continuing Operations	10.83	10.02	10.1	11.82	12.36
Diluted Weighted Average Shares Outstanding	486M	481M	471M	459M	450M
Normalized Basic EPS	5.41	7.45	8.02	9.28	11.13
Normalized Diluted EPS	5.36	7.39	8	9.24	11.07
American Depositary Receipts Ratio (ADR)	0.02	0.02	0.02	0.02	0.02
Supplemental Items
EBITDA	4.81B	6.38B	6.72B	7.27B	8.4B
EBITA	4.6B	6.16B	6.5B	7.02B	8.16B
EBIT	4.24B	5.8B	6.1B	6.65B	7.82B
EBITDAR	4.93B	6.5B	6.84B	7.38B	8.51B
Total Revenues (As Reported)	12.87B	15.78B	17.61B	19.41B	21.5B
Effective Tax Rate - (Ratio)	-25.96	15.48	20.84	20.16	19.78
Current Domestic Taxes	198M	494M	597M	1.46B	1.52B
Current Foreign Taxes	222M	197M	329M	335M	315M
Total Current Taxes	420M	691M	926M	1.79B	1.84B
Deferred Domestic Taxes	-191M	-167M	-34M	-649M	-647M
Deferred Foreign Taxes	-1.31B	359M	360M	227M	179M
Total Deferred Taxes	-1.5B	192M	326M	-422M	-468M
Normalized Net Income	2.6B	3.56B	3.77B	4.24B	4.98B
Interest on Long-Term Debt	116M	113M	112M	113M	169M
Supplemental Operating Expense Items
Advertising Expense	362M	540M	1.04B	970M	1.04B
Selling and Marketing Expenses	3.59B	4.32B	4.97B	5.35B	5.76B
General and Administrative Expenses	968M	1.08B	1.22B	1.41B	1.45B
Research And Development Expense From Footnotes	2.19B	2.54B	2.99B	3.47B	3.94B
Net Rental Expense, Total	119M	119M	121M	117M	106M
Imputed Operating Lease Interest Expense	24.97M	22.93M	23.3M	24.28M	28.28M
Imputed Operating Lease Depreciation	94.03M	96.07M	97.7M	92.72M	77.72M
Stock-Based Comp., COGS (Total)	61M	70M	97M	115M	117M
Stock-Based Comp., R&D Exp. (Total)	467M	549M	726M	874M	932M
Stock-Based Comp., S&M Exp. (Total)	261M	307M	417M	495M	535M
Stock-Based Comp., G&A Exp. (Total)	120M	164M	200M	234M	249M
Stock-Based Comp., Other (Total)	-	-	-	-	-
Total Stock-Based Compensation	909M	1.09B	1.44B	1.72B	1.83B

Fiscal Period: November	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	4.48B	3.84B	4.24B	7.14B	7.61B
Short Term Investments	1.51B	1.95B	1.86B	701M	273M
Total Cash And Short Term Investments	5.99B	5.8B	6.1B	7.84B	7.89B
Accounts Receivable, Total	1.4B	1.88B	2.06B	2.22B	2.07B
Total Receivables	1.4B	1.88B	2.06B	2.22B	2.07B
Prepaid Expenses	563M	690M	561M	732M	916M
Other Current Assets, Total	193M	303M	274M	286M	358M
Total Current Assets	8.15B	8.67B	9B	11.08B	11.23B
Gross Property Plant And Equipment	3.46B	3.57B	3.88B	4.12B	3.87B
Accumulated Depreciation	-1.46B	-1.45B	-1.57B	-1.73B	-1.66B
Net Property Plant And Equipment	2B	2.12B	2.32B	2.39B	2.22B
Long-term Investments	-	-	-	-	-
Goodwill	10.74B	12.67B	12.79B	12.8B	12.79B
Other Intangibles, Total	1.36B	1.82B	1.45B	1.09B	782M
Accounts Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	1.37B	1.08B	777M	1.19B	1.66B
Deferred Charges Long-Term	352M	406M	406M	422M	464M
Other Long-Term Assets, Total	311M	477M	435M	801M	1.09B
Total Assets	24.28B	27.24B	27.16B	29.78B	30.23B
Liabilities
Accounts Payable, Total	306M	312M	379M	314M	361M
Accrued Expenses, Total	1.29B	1.6B	1.67B	1.82B	2.03B
Current Portion of Long-Term Debt	-	-	500M	-	1.5B
Current Portion of Leases	92M	97M	87M	73M	75M
Current Income Taxes Payable	63M	54M	75M	85M	119M
Unearned Revenue Current, Total	3.63B	4.73B	5.3B	5.84B	6.13B
Other Current Liabilities	131M	136M	121M	120M	309M
Total Current Liabilities	5.51B	6.93B	8.13B	8.25B	10.52B
Long-Term Debt	4.12B	4.12B	3.63B	3.63B	4.13B
Long-Term Leases	499M	453M	417M	373M	353M
Unearned Revenue Non Current	130M	145M	117M	113M	128M
Deferred Tax Liability Non Current	10M	5M	-	-	-
Other Non Current Liabilities	752M	786M	823M	890M	994M
Total Liabilities	11.02B	12.44B	13.11B	13.26B	16.12B
Common Stock, Total	-	-	-	-	-
Additional Paid In Capital	7.36B	8.43B	9.87B	11.59B	13.42B
Retained Earnings	19.61B	23.9B	28.32B	33.35B	38.47B
Treasury Stock	-13.55B	-17.4B	-23.84B	-28.13B	-37.58B
Comprehensive Income and Other	-158M	-137M	-293M	-285M	-201M
Total Common Equity	13.26B	14.8B	14.05B	16.52B	14.1B
Total Equity	13.26B	14.8B	14.05B	16.52B	14.1B
Total Liabilities And Equity	24.28B	27.24B	27.16B	29.78B	30.23B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	479M	472M	458M	452M	435M
ECS Total Common Shares Outstanding	479M	475M	462M	455M	441M
Book Value / Share	27.69	31.15	30.41	36.3	31.98
Tangible Book Value	1.16B	309M	-185M	2.62B	535M
Tangible Book Value Per Share	2.43	0.65	-0.4	5.77	1.21
Total Debt	4.71B	4.67B	4.63B	4.08B	6.06B
Net Debt	-1.28B	-1.12B	-1.46B	-3.76B	-1.83B
Debt Equivalent of Unfunded Proj. Benefit Obligation	137M	174M	178M	222M	297M
Debt Equivalent Oper. Leases	952M	952M	968M	936M	848M
Account Code - Inventory Valuation	3	3	-	3	3
Land - (BS)	145M	145M	144M	163M	163M
Buildings, Total	901M	904M	902M	1.66B	1.63B
Machinery, Total	1.45B	1.4B	1.5B	1.66B	1.55B
Full Time Employees	22.52K	25.99K	29.24K	29.94K	30.71K
Accumulated Allowance for Doubtful Accounts (Supple)	21M	16M	23M	16M	14M
Order Backlog	-	-	-	-	-

Fiscal Period: November	2020	2021	2022	2023	2024
Net Income	5.26B	4.82B	4.76B	5.43B	5.56B
Depreciation & Amortization - CF	204M	222M	213M	243M	249M
Amortization of Goodwill and Intangible Assets - (CF)	367M	354M	405M	375M	336M
Depreciation & Amortization, Total	571M	576M	618M	618M	585M
Amortization of Deferred Charges, Total - (CF)	186M	212M	238M	254M	272M
(Gain) Loss From Sale Of Asset	-	-	-	-	-
(Gain) Loss on Sale of Investments - (CF)	-11M	-4M	29M	-10M	-35M
Asset Writedown & Restructuring Costs	-	-	-	-	78M
Stock-Based Compensation (CF)	909M	1.07B	1.44B	1.72B	1.83B
Tax Benefit from Stock Options	-	-	-	-	-
Other Operating Activities, Total	-1.37B	263M	421M	-351M	-381M
Change In Accounts Receivable	106M	-430M	-198M	-159M	143M
Change In Accounts Payable	96M	-20M	66M	-49M	44M
Change in Unearned Revenues	258M	1.05B	536M	536M	309M
Change In Income Taxes	-72M	2M	19M	-11M	68M
Change in Other Net Operating Assets	-202M	-313M	-87M	-672M	-420M
Cash from Operations	5.73B	7.23B	7.84B	7.3B	8.06B
Capital Expenditure	-419M	-348M	-442M	-360M	-183M
Sale of Property, Plant, and Equipment	-	-	-	-	-
Cash Acquisitions	-	-2.68B	-126M	-	-
Investment in Marketable and Equity Securities, Total	5M	-507M	-2M	1.14B	332M
Cash from Investing	-414M	-3.54B	-570M	776M	149M
Long-Term Debt Issued, Total	3.14B	-	-	-	2B
Total Debt Issued	3.14B	-	-	-	2B
Long-Term Debt Repaid, Total	-3.15B	-	-	-500M	-
Total Debt Repaid	-3.15B	-	-	-500M	-
Issuance of Common Stock	270M	291M	278M	314M	361M
Repurchase of Common Stock	-3.73B	-4.67B	-7.07B	-4.99B	-10.18B
Other Financing Activities, Total	-21M	77M	-35M	-7M	95M
Cash from Financing	-3.49B	-4.3B	-6.82B	-5.18B	-7.72B
Foreign Exchange Rate Adjustments	3M	-26M	-51M	9M	-9M
Net Change in Cash	1.83B	-634M	392M	2.9B	472M
Supplemental Items
Cash Interest Paid	88M	100M	103M	106M	143M
Cash Income Tax Paid (Refund)	469M	843M	778M	1.85B	1.73B
Levered Free Cash Flow	4.36B	5.78B	6.27B	6.61B	7.95B
Unlevered Free Cash Flow	4.44B	5.85B	6.34B	6.68B	8.06B
Change In Net Working Capital	-542M	-698M	-677M	-295M	-665M
Net Debt Issued / Repaid	-6M	-	-	-500M	2B

Fiscal Period: November	2020	2021	2022	2023	2024
Profitability
Return on Assets	11.76	14.08	14.01	14.6	16.29
Return on Total Capital	16.23	19.37	19.98	21.16	23.98
Return On Equity %	44.21	34.37	32.97	35.51	36.31
Return on Common Equity	44.21	34.37	32.97	35.51	36.31
Margin Analysis
Gross Profit Margin %	86.62	88.18	87.7	87.87	89.04
SG&A Margin	35.43	34.25	35.14	34.85	33.55
EBITDA Margin %	37.36	40.41	38.15	37.45	39.08
EBITA Margin %	35.78	39	36.94	36.19	37.92
EBIT Margin %	32.93	36.76	34.64	34.26	36.36
Income From Continuing Operations Margin %	40.88	30.55	27.01	27.97	25.85
Net Income Margin %	40.88	30.55	27.01	27.97	25.85
Net Avail. For Common Margin %	40.88	30.55	27.01	27.97	25.85
Normalized Net Income Margin	20.21	22.53	21.4	21.86	23.14
Levered Free Cash Flow Margin	33.92	36.64	35.63	34.06	36.98
Unlevered Free Cash Flow Margin	34.48	37.09	36.02	34.42	37.47
Asset Turnover
Asset Turnover	0.57	0.61	0.65	0.68	0.72
Fixed Assets Turnover	7.81	7.66	7.95	8.25	9.34
Receivables Turnover (Average Receivables)	8.77	9.64	8.93	9.05	10.01
Short Term Liquidity
Current Ratio	1.48	1.25	1.11	1.34	1.07
Quick Ratio	1.34	1.11	1	1.22	0.95
Operating Cash Flow to Current Liabilities	1.04	1.04	0.96	0.88	0.77
Days Sales Outstanding (Average Receivables)	41.48	38.5	40.76	40.22	36.36
Average Days Payable Outstanding	54.43	61.47	58.09	53.58	52.1
Long Term Solvency
Total Debt/Equity	35.49	31.58	32.97	24.7	42.94
Total Debt / Total Capital	26.2	24	24.8	19.81	30.04
LT Debt/Equity	34.8	30.93	28.8	24.26	31.78
Long-Term Debt / Total Capital	25.68	23.5	21.65	19.45	22.23
Total Liabilities / Total Assets	45.38	45.68	48.28	44.53	53.34
EBIT / Interest Expense	36.53	51.35	54.45	58.85	46.27
EBITDA / Interest Expense	42.47	57.5	61.04	65.35	50.36
(EBITDA - Capex) / Interest Expense	38.86	54.42	57.1	62.17	49.27
Total Debt / EBITDA	0.96	0.72	0.68	0.55	0.71
Net Debt / EBITDA	-0.26	-0.17	-0.21	-0.51	-0.22
Total Debt / (EBITDA - Capex)	1.04	0.76	0.72	0.58	0.73
Net Debt / (EBITDA - Capex)	-0.28	-0.18	-0.23	-0.54	-0.22
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	15.19	22.67	11.54	10.24	10.8
Gross Profit, 1 Yr. Growth %	17.35	24.89	10.93	10.45	12.27
EBITDA, 1 Yr. Growth %	24.75	32.65	5.3	8.22	15.63
EBITA, 1 Yr. Growth %	25.45	33.71	5.64	8.03	16.09
EBIT, 1 Yr. Growth %	29.65	36.94	5.1	9.05	17.58
Earnings From Cont. Operations, 1 Yr. Growth %	78.24	-8.33	-1.37	14.13	2.43
Net Income, 1 Yr. Growth %	78.24	-8.33	-1.37	14.13	2.43
Normalized Net Income, 1 Yr. Growth %	32	36.69	5.94	12.66	17.26
Diluted EPS Before Extra, 1 Yr. Growth %	80.5	-7.48	0.8	17.03	4.57
Accounts Receivable, 1 Yr. Growth %	-8.93	34.33	9.96	7.7	-6.83
Net Property, Plant and Equip., 1 Yr. Growth %	54.99	5.59	9.4	3.15	-7.16
Total Assets, 1 Yr. Growth %	16.96	12.18	-0.28	9.62	1.51
Tangible Book Value, 1 Yr. Growth %	-161.8	-73.43	-159.87	-1.52K	-79.62
Common Equity, 1 Yr. Growth %	25.96	11.56	-5.04	17.56	-14.61
Cash From Operations, 1 Yr. Growth %	29.51	26.24	8.41	-6.84	10.33
Capital Expenditures, 1 Yr. Growth %	6.08	-16.95	27.01	-18.55	-49.17
Levered Free Cash Flow, 1 Yr. Growth %	38.77	32.51	8.45	5.39	20.31
Unlevered Free Cash Flow, 1 Yr. Growth %	36.8	31.94	8.34	5.35	20.62
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	19.37	18.87	16.97	10.89	10.52
Gross Profit, 2 Yr. CAGR %	19.27	21.06	17.7	10.69	11.36
EBITDA, 2 Yr. CAGR %	22.85	25.88	18.19	6.75	11.86
EBITA, 2 Yr. CAGR %	23.41	29.51	18.85	6.83	11.98
EBIT, 2 Yr. CAGR %	22.14	33.24	19.97	7.06	13.24
Earnings From Cont. Operations, 2 Yr. CAGR %	42.48	27.83	-4.91	6.1	8.12
Net Income, 2 Yr. CAGR %	42.48	27.83	-4.91	6.1	8.12
Normalized Net Income, 2 Yr. CAGR %	21.88	34.32	20.32	9.25	14.94
Diluted EPS Before Extra, 2 Yr. CAGR %	44.32	29.23	-3.43	8.61	10.62
Accounts Receivable, 2 Yr. CAGR %	3.08	10.61	21.54	8.82	0.17
Net Property, Plant and Equip., 2 Yr. CAGR %	36.53	27.93	7.48	6.23	-2.14
Total Assets, 2 Yr. CAGR %	13.75	14.55	5.77	4.55	5.49
Tangible Book Value, 2 Yr. CAGR %	-40.53	-59.48	-60.12	191.46	70.06
Common Equity, 2 Yr. CAGR %	19.03	18.54	2.92	5.66	0.19
Cash From Operations, 2 Yr. CAGR %	19.22	27.87	16.99	0.5	1.38
Capital Expenditures, 2 Yr. CAGR %	25.27	-6.14	2.71	1.71	-35.66
Levered Free Cash Flow, 2 Yr. CAGR %	20.98	35.6	19.88	6.91	12.61
Unlevered Free Cash Flow, 2 Yr. CAGR %	20.86	34.35	19.56	6.83	12.72
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	20.79	20.46	16.37	14.68	10.86
Gross Profit, 3 Yr. CAGR %	21	21.12	17.58	15.23	11.21
EBITDA, 3 Yr. CAGR %	24.46	26.03	18.61	14.77	9.63
EBITA, 3 Yr. CAGR %	25.63	26.75	21.01	15.13	9.83
EBIT, 3 Yr. CAGR %	25.02	26.89	23.11	16.21	10.46
Earnings From Cont. Operations, 3 Yr. CAGR %	45.89	23	17.24	1.05	4.86
Net Income, 3 Yr. CAGR %	45.89	23	17.24	1.05	4.86
Normalized Net Income, 3 Yr. CAGR %	25.04	26.63	24.11	17.71	11.86
Diluted EPS Before Extra, 3 Yr. CAGR %	47.42	24.44	18.96	2.96	7.25
Accounts Receivable, 3 Yr. CAGR %	4.7	12.6	10.39	16.74	3.33
Net Property, Plant and Equip., 3 Yr. CAGR %	28.84	25.32	21.43	6.02	1.57
Total Assets, 3 Yr. CAGR %	18.66	13.22	9.37	7.04	3.53
Tangible Book Value, 3 Yr. CAGR %	-19.78	-54.54	-53.85	31.17	20.08
Common Equity, 3 Yr. CAGR %	16.17	16.48	10.09	7.59	-1.58
Cash From Operations, 3 Yr. CAGR %	25.28	21.52	21.02	8.44	3.67
Capital Expenditures, 3 Yr. CAGR %	32.99	9.23	3.82	-4.93	-19.28
Levered Free Cash Flow, 3 Yr. CAGR %	24.22	24.71	25.87	14.84	11.2
Unlevered Free Cash Flow, 3 Yr. CAGR %	24.06	24.45	25.05	14.62	11.24
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	21.82	21.94	19.25	16.54	14
Gross Profit, 5 Yr. CAGR %	22.44	22.56	19.67	16.83	15.05
EBITDA, 5 Yr. CAGR %	31.08	28.43	21.91	17.93	15.86
EBITA, 5 Yr. CAGR %	33.7	30.19	22.87	18.37	17.31
EBIT, 5 Yr. CAGR %	36.23	31.18	22.98	18.55	19.06
Earnings From Cont. Operations, 5 Yr. CAGR %	52.89	32.77	22.93	15.94	13.51
Net Income, 5 Yr. CAGR %	52.89	32.77	22.93	15.94	13.51
Normalized Net Income, 5 Yr. CAGR %	37.45	31.72	23.13	19.37	20.35
Diluted EPS Before Extra, 5 Yr. CAGR %	54.26	33.99	24.47	17.85	15.55
Accounts Receivable, 5 Yr. CAGR %	15.78	17.65	11.14	11.07	6.18
Net Property, Plant and Equip., 5 Yr. CAGR %	20.54	20.99	19.83	17.31	11.39
Total Assets, 5 Yr. CAGR %	15.67	16.49	13.32	9.67	7.8
Tangible Book Value, 5 Yr. CAGR %	0.67	-28.06	-39.34	-4.4	-22.24
Common Equity, 5 Yr. CAGR %	13.63	14.79	10.68	12.03	6.02
Cash From Operations, 5 Yr. CAGR %	31.27	26.87	21.89	12.63	12.75
Capital Expenditures, 5 Yr. CAGR %	17.77	11.29	19.93	6.16	-14.26
Levered Free Cash Flow, 5 Yr. CAGR %	26.11	27.45	22.46	17.26	20.39
Unlevered Free Cash Flow, 5 Yr. CAGR %	25.8	27.12	22.24	17.08	19.96