ADBE - Adobe Inc.
Price:
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--
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CONSENSUS:
Buy
DETAILS
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PRICE TARGET:
$399.50
DETAILS
HIGH:
$500.00
LOW:
$280.00
MEDIAN:
$417.50
CONSENSUS:
$399.50
UPSIDE:
34.91%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||
| Revenue | 23,769.0 | 21,505.0 | 19,409.0 | 17,606.0 | 15,785.0 | 12,868.0 | 11,171.3 | 9,030.0 | 7,301.5 | 5,854.4 |
| Cost of Revenue | 2,708.0 | 2,358.0 | 2,354.0 | 2,165.0 | 1,865.0 | 1,722.0 | 1,672.7 | 1,195.0 | 1,010.5 | 819.9 |
| Gross Profit | 21,061.0 | 19,147.0 | 17,055.0 | 15,441.0 | 13,920.0 | 11,146.0 | 9,498.6 | 7,835.0 | 6,291.0 | 5,034.5 |
| Operating Expenses | ||||||||||
| R&D Expenses | 4,294.0 | 3,944.0 | 3,473.0 | 2,987.0 | 2,540.0 | 2,188.0 | 1,930.2 | 1,537.8 | 1,224.1 | 976.0 |
| SG&A Expenses | 8,061.0 | 7,293.0 | 6,764.0 | 6,187.0 | 5,406.0 | 4,559.0 | 4,125.0 | 3,365.7 | 2,822.3 | 2,487.9 |
| Other Expenses | 0.0 | 1,169.0 | 168.0 | 169.0 | 172.0 | 162.0 | 175.2 | 91.1 | 76.6 | 77.0 |
| Operating Expenses | 12,355.0 | 12,406.0 | 10,405.0 | 9,343.0 | 8,118.0 | 6,909.0 | 6,230.5 | 4,994.6 | 4,122.9 | 3,540.9 |
| Operating Income | ||||||||||
| Operating Income | 8,706.0 | 6,741.0 | 6,650.0 | 6,098.0 | 5,802.0 | 4,237.0 | 3,268.1 | 2,840.4 | 2,168.1 | 1,493.6 |
| Interest Expense | 263.0 | 164.0 | 113.0 | 112.0 | 113.0 | 116.0 | 157.0 | 89.0 | 74.4 | 70.4 |
| Interest Income | 0.0 | 341.0 | 269.0 | 61.0 | 17.0 | 43.0 | 68.0 | 93.0 | 66.1 | 47.3 |
| Profitability | ||||||||||
| EBITDA | 9,749.0 | 7,957.0 | 7,784.0 | 7,055.0 | 6,675.0 | 5,049.0 | 4,097.4 | 3,229.6 | 2,538.0 | 1,837.1 |
| EBIT | 8,931.0 | 7,100.0 | 6,912.0 | 6,098.0 | 5,814.0 | 4,292.0 | 3,360.7 | 2,883.1 | 2,168.1 | 1,493.6 |
| Income Before Tax | 8,734.0 | 6,931.0 | 6,799.0 | 6,008.0 | 5,705.0 | 4,176.0 | 3,204.7 | 2,793.9 | 2,137.6 | 1,435.1 |
| Income Tax Expense | 1,604.0 | 1,371.0 | 1,371.0 | 1,252.0 | 883.0 | (1,084.0) | 253.3 | 203.1 | 443.7 | 266.4 |
| Net Income | 7,130.0 | 5,560.0 | 5,428.0 | 4,756.0 | 4,822.0 | 5,260.0 | 2,951.5 | 2,590.8 | 1,694.0 | 1,168.8 |
| Per Share Data | ||||||||||
| EPS (Basic) | 16.73 | 12.44 | 11.88 | 10.13 | 10.10 | 10.94 | 6.07 | 5.28 | 3.43 | 2.35 |
| EPS (Diluted) | 16.70 | 12.36 | 11.83 | 10.10 | 10.02 | 10.83 | 6.00 | 5.20 | 3.38 | 2.32 |
| Shares Outstanding | 426.0 | 447.1 | 457.0 | 470.0 | 477.0 | 481.0 | 486.3 | 490.6 | 493.6 | 498.3 |
| Metric | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||||
| Cash & Cash Equivalents | 7,613.0 | 7,141.0 | 4,236.0 | 3,844.0 | 4,478.0 | 2,650.0 | 1,642.8 | 2,306.1 | 1,011.3 | 876.6 |
| Short-Term Investments | 273.0 | 701.0 | 1,860.0 | 1,954.0 | 1,514.0 | 1,527.0 | 1,586.2 | 3,513.7 | 3,750.0 | 3,111.5 |
| Net Receivables | 2,072.0 | 2,224.0 | 2,065.0 | 1,878.0 | 1,398.0 | 1,535.0 | 1,315.6 | 1,218.0 | 833.0 | 672.0 |
| Inventory | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Other Current Assets | 1,274.0 | 1,018.0 | 835.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Total Current Assets | 11,232.0 | 11,084.0 | 8,996.0 | 8,669.0 | 8,146.0 | 6,495.0 | 4,857.0 | 7,247.8 | 5,839.8 | 4,821.9 |
| Non-Current Assets | ||||||||||
| Property, Plant & Equipment | 2,217.0 | 2,388.0 | 2,315.0 | 2,116.0 | 2,004.0 | 1,293.0 | 1,075.1 | 937.0 | 816.3 | 787.4 |
| Goodwill | 12,788.0 | 12,805.0 | 12,787.0 | 12,668.0 | 10,742.0 | 10,691.0 | 10,581.0 | 5,821.6 | 5,406.5 | 5,366.9 |
| Intangible Assets | 782.0 | 1,088.0 | 1,449.0 | 1,820.0 | 1,359.0 | 1,721.0 | 2,069.0 | 385.7 | 414.4 | 510.0 |
| Long-Term Investments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 80.4 | 80.4 |
| Other Non-Current Assets | 1,554.0 | 1,223.0 | 841.0 | 883.0 | 663.0 | 562.0 | 186.5 | 143.5 | 139.9 | 159.8 |
| Total Non-Current Assets | 18,998.0 | 18,695.0 | 18,169.0 | 18,572.0 | 16,138.0 | 14,267.0 | 13,911.6 | 7,287.7 | 6,857.5 | 6,904.6 |
| Total Assets | 30,230.0 | 29,779.0 | 27,165.0 | 27,241.0 | 24,284.0 | 20,762.0 | 18,768.7 | 14,535.6 | 12,697.2 | 11,726.5 |
| Current Liabilities | ||||||||||
| Account Payables | 361.0 | 314.0 | 379.0 | 312.0 | 306.0 | 209.0 | 186.3 | 113.5 | 88.0 | 93.3 |
| Short-Term Debt | 1,499.0 | 0.0 | 500.0 | 0.0 | 0.0 | 3,149.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Deferred Revenue | 6,131.0 | 5,837.0 | 5,297.0 | 4,733.0 | 3,629.0 | 3,378.0 | 2,916.0 | 2,405.9 | 1,945.6 | 1,434.2 |
| Other Current Liabilities | 1,464.0 | 1,141.0 | 1,030.0 | 1,066.0 | 502.0 | 477.0 | 314.7 | 256.9 | 339.5 | 312.8 |
| Total Current Liabilities | 10,521.0 | 8,251.0 | 8,128.0 | 6,932.0 | 5,512.0 | 8,191.0 | 4,301.1 | 3,527.5 | 2,811.6 | 2,213.6 |
| Non-Current Liabilities | ||||||||||
| Long-Term Debt | 4,129.0 | 3,634.0 | 3,629.0 | 4,123.0 | 4,117.0 | 989.0 | 4,124.8 | 1,881.4 | 1,892.2 | 1,907.2 |
| Deferred Tax Liabilities | 0.0 | 0.0 | 0.0 | 5.0 | 10.0 | 140.0 | 46.7 | 279.9 | 217.7 | 208.2 |
| Other Non-Current Liabilities | 994.0 | 890.0 | 823.0 | 786.0 | 752.0 | 789.0 | 796.3 | 298.3 | 281.8 | 344.8 |
| Total Non-Current Liabilities | 5,604.0 | 5,010.0 | 4,986.0 | 5,512.0 | 5,508.0 | 2,041.0 | 5,105.4 | 2,548.2 | 2,460.8 | 2,511.3 |
| Total Liabilities | 16,125.0 | 13,261.0 | 13,114.0 | 12,444.0 | 11,020.0 | 10,232.0 | 9,406.6 | 6,075.7 | 5,272.4 | 4,724.9 |
| Stockholders' Equity | ||||||||||
| Common Stock | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.1 | 0.1 | 0.1 | 0.1 |
| Retained Earnings | 38,470.0 | 33,346.0 | 28,319.0 | 23,905.0 | 19,611.0 | 14,829.0 | 11,815.6 | 9,573.9 | 8,114.5 | 7,253.4 |
| Accumulated Other Comprehensive Income | (201.0) | (285.0) | (293.0) | (137.0) | (158.0) | (188.0) | (148.1) | (111.8) | (173.6) | (169.1) |
| Total Stockholders' Equity | 14,105.0 | 16,518.0 | 14,051.0 | 14,797.0 | 13,264.0 | 10,530.0 | 9,362.1 | 8,459.9 | 7,424.8 | 7,001.6 |
| Total Liabilities & Equity | 30,230.0 | 29,779.0 | 27,165.0 | 27,241.0 | 24,284.0 | 20,762.0 | 18,768.7 | 14,535.6 | 12,697.2 | 11,726.5 |
| Debt Metrics | ||||||||||
| Total Debt | 6,056.0 | 4,080.0 | 4,633.0 | 4,673.0 | 4,708.0 | 4,138.0 | 4,124.8 | 1,881.4 | 1,892.2 | 1,907.2 |
| Net Debt | (1,557.0) | (3,061.0) | 397.0 | 829.0 | 230.0 | 1,488.0 | 2,482.0 | (424.7) | 880.9 | 1,030.7 |
| Metric | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||
| Net Income | 5,560.0 | 5,428.0 | 4,756.0 | 4,822.0 | 5,260.0 | 2,951.5 | 2,590.8 | 1,694.0 | 1,168.8 | 629.6 |
| Depreciation & Amortization | 894.0 | 872.0 | 856.0 | 788.0 | 757.0 | 624.7 | 346.5 | 326.0 | 331.5 | 339.5 |
| Stock-Based Compensation | 1,881.0 | 1,718.0 | 1,440.0 | 1,069.0 | 909.0 | 787.7 | 603.5 | 451.5 | 349.9 | 335.8 |
| Change in Working Capital | 144.0 | (355.0) | 336.0 | 292.0 | 186.0 | 105.0 | 487.8 | 446.9 | 346.4 | 195.3 |
| Other Non-Cash Items | (82.0) | 65.0 | 122.0 | 83.0 | 116.0 | (50.3) | 469.7 | (57.1) | (21.1) | 39.0 |
| Operating Cash Flow | 8,056.0 | 7,302.0 | 7,838.0 | 7,223.0 | 5,727.0 | 4,421.3 | 4,029.3 | 2,912.9 | 2,199.7 | 1,469.5 |
| Investing Activities | ||||||||||
| Capital Expenditure | (232.0) | (360.0) | (442.0) | (330.0) | (419.0) | (334.0) | (266.6) | (178.1) | (203.8) | (184.9) |
| Acquisitions | 0.0 | 0.0 | (126.0) | (2,682.0) | 0.0 | (100.7) | (6,314.4) | (459.6) | (48.4) | (826.0) |
| Purchases of Investments | (58.0) | (53.0) | (955.0) | (1,575.0) | (221.0) | (243.2) | (584.6) | (57.9) | (711.2) | (691.1) |
| Sales/Maturities of Investments | 388.0 | 1,189.0 | 953.0 | 1,068.0 | 1,091.0 | 788.2 | 2,480.0 | 2,155.8 | 1,635.9 | 1,552.4 |
| Other Investing Activities | 51.0 | 0.0 | 0.0 | 0.0 | (865.0) | (565.4) | 0.0 | (1,903.1) | (1,632.4) | (1,338.7) |
| Investing Cash Flow | 149.0 | 776.0 | (570.0) | (3,537.0) | (414.0) | (455.1) | (4,685.0) | (442.9) | (960.0) | (1,488.4) |
| Financing Activities | ||||||||||
| Net Debt Issuance | 1,997.0 | (500.0) | 0.0 | 0.0 | (6.0) | 0.0 | 2,248.0 | 0.0 | (0.1) | 387.1 |
| Stock Repurchased | (9,500.0) | (4,400.0) | (6,550.0) | (3,950.0) | (3,050.0) | (2,750.0) | (2,050.0) | (1,100.0) | (1,075.0) | (625.0) |
| Dividends Paid | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Other Financing Activities | (430.0) | (596.0) | (553.0) | (642.0) | 249.0 | (429.0) | 189.4 | (242.1) | (161.3) | 223.6 |
| Financing Cash Flow | (7,724.0) | (5,182.0) | (6,825.0) | (4,301.0) | (3,488.0) | (2,946.0) | (5.6) | (1,183.7) | (1,090.7) | (200.7) |
| Cash Position | ||||||||||
| Net Change in Cash | 472.0 | 2,905.0 | 392.0 | (634.0) | 1,828.0 | 1,007.4 | (663.3) | 1,294.8 | 134.8 | (240.8) |
| Cash at Beginning | 7,141.0 | 4,236.0 | 3,844.0 | 4,478.0 | 2,650.0 | 1,642.8 | 2,306.1 | 1,011.3 | 876.6 | 1,117.4 |
| Cash at End | 7,613.0 | 7,141.0 | 4,236.0 | 3,844.0 | 4,478.0 | 2,650.2 | 1,642.8 | 2,306.1 | 1,011.3 | 876.6 |
| Free Cash Flow | 7,824.0 | 6,942.0 | 7,396.0 | 6,893.0 | 5,308.0 | 4,087.3 | 3,762.7 | 2,734.7 | 1,995.9 | 1,284.6 |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||
| Revenue | 23,769.0 | 21,505.0 | 19,409.0 | 17,606.0 | 15,785.0 | 12,868.0 | 11,171.3 | 9,030.0 | 7,301.5 | 5,854.4 |
| Gross Profit | 21,061.0 | 19,147.0 | 17,055.0 | 15,441.0 | 13,920.0 | 11,146.0 | 9,498.6 | 7,835.0 | 6,291.0 | 5,034.5 |
| Operating Income | 8,706.0 | 6,741.0 | 6,650.0 | 6,098.0 | 5,802.0 | 4,237.0 | 3,268.1 | 2,840.4 | 2,168.1 | 1,493.6 |
| Net Income | 7,130.0 | 5,560.0 | 5,428.0 | 4,756.0 | 4,822.0 | 5,260.0 | 2,951.5 | 2,590.8 | 1,694.0 | 1,168.8 |
| EPS (Diluted) | 16.70 | 12.36 | 11.83 | 10.10 | 10.02 | 10.83 | 6.00 | 5.20 | 3.38 | 2.32 |
| Balance Sheet | ||||||||||
| Cash & Equivalents | 7,613.0 | 7,141.0 | 4,236.0 | 3,844.0 | 4,478.0 | 2,650.0 | 1,642.8 | 2,306.1 | 1,011.3 | 876.6 |
| Total Assets | 30,230.0 | 29,779.0 | 27,165.0 | 27,241.0 | 24,284.0 | 20,762.0 | 18,768.7 | 14,535.6 | 12,697.2 | 11,726.5 |
| Total Debt | 6,056.0 | 4,080.0 | 4,633.0 | 4,673.0 | 4,708.0 | 4,138.0 | 4,124.8 | 1,881.4 | 1,892.2 | 1,907.2 |
| Stockholders' Equity | 14,105.0 | 16,518.0 | 14,051.0 | 14,797.0 | 13,264.0 | 10,530.0 | 9,362.1 | 8,459.9 | 7,424.8 | 7,001.6 |
| Cash Flow | ||||||||||
| Operating Cash Flow | 8,056.0 | 7,302.0 | 7,838.0 | 7,223.0 | 5,727.0 | 4,421.3 | 4,029.3 | 2,912.9 | 2,199.7 | 1,469.5 |
| Capital Expenditure | (232.0) | (360.0) | (442.0) | (330.0) | (419.0) | (334.0) | (266.6) | (178.1) | (203.8) | (184.9) |
| Free Cash Flow | 7,824.0 | 6,942.0 | 7,396.0 | 6,893.0 | 5,308.0 | 4,087.3 | 3,762.7 | 2,734.7 | 1,995.9 | 1,284.6 |