Cash flow Adobe Inc.

Stocks

ADBE

US00724F1012

Software

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49af1729eeb0e890bf5396bf0f345.PL4AeeP10dSWexo0slPP7blH_eF-Ati_NLiHRwweR2E.f_lKC6fAv-fDAXJb0Qa92dcqmpYnd4vGef3AH2smfjB5yGIKl7iB5-8oWw

Published financial data: ADOBE INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: November	2021	2022	2023	2024	2025
Revenues	15.78B	17.61B	19.41B	21.5B	23.77B
Total Revenues	15.78B	17.61B	19.41B	21.5B	23.77B
Cost of Goods Sold, Total	1.86B	2.16B	2.35B	2.36B	2.55B
Gross Profit	13.92B	15.44B	17.06B	19.15B	21.22B
Selling General & Admin Expenses, Total	5.41B	6.19B	6.76B	7.22B	8.06B
R&D Expenses	2.54B	2.99B	3.47B	3.94B	4.29B
Amortization of Goodwill and Intangible Assets - (IS)	172M	169M	168M	169M	157M
Other Operating Expenses, Total	8.12B	9.34B	10.4B	11.33B	12.51B
Operating Income	5.8B	6.1B	6.65B	7.82B	8.71B
Interest Expense, Total	-113M	-112M	-113M	-169M	-263M
Interest And Investment Income	17M	61M	269M	341M	264M
Net Interest Expenses	-96M	-51M	156M	172M	1M
Currency Exchange Gains (Loss)	-17M	-21M	-17M	-29M	-15M
Other Non Operating Income (Expenses)	-	1M	1M	-	-
EBT, Excl. Unusual Items	5.69B	6.03B	6.79B	7.96B	8.69B
Restructuring Charges	-	-	-	-	-
Merger & Related Restructuring Charges	-	-	-	-1B	-
Gain (Loss) On Sale Of Investments	16M	-19M	9M	47M	42M
Asset Writedown	-	-	-	-78M	-
EBT, Incl. Unusual Items	5.7B	6.01B	6.8B	6.93B	8.73B
Income Tax Expense	883M	1.25B	1.37B	1.37B	1.6B
Earnings From Continuing Operations	4.82B	4.76B	5.43B	5.56B	7.13B
Net Income to Company	4.82B	4.76B	5.43B	5.56B	7.13B
Net Income - (IS)	4.82B	4.76B	5.43B	5.56B	7.13B
Net Income to Common Incl Extra Items	4.82B	4.76B	5.43B	5.56B	7.13B
Net Income to Common Excl. Extra Items	4.82B	4.76B	5.43B	5.56B	7.13B
Per Share Items
Net EPS - Basic	10.1	10.13	11.87	12.44	16.73
Basic EPS - Continuing Operations	10.1	10.13	11.87	12.44	16.73
Basic Weighted Average Shares Outstanding	477M	470M	457M	447M	426M
Net EPS - Diluted	10.02	10.1	11.82	12.36	16.7
Diluted EPS - Continuing Operations	10.02	10.1	11.82	12.36	16.7
Diluted Weighted Average Shares Outstanding	481M	471M	459M	450M	427M
Normalized Basic EPS	7.45	8.02	9.28	11.13	12.75
Normalized Diluted EPS	7.39	8	9.24	11.07	12.72
American Depositary Receipts Ratio (ADR)	0.02	0.02	0.02	0.02	0.02
Supplemental Items
EBITDA	6.38B	6.72B	7.27B	8.4B	9.24B
EBITA	6.16B	6.5B	7.02B	8.16B	9.02B
EBIT	5.8B	6.1B	6.65B	7.82B	8.71B
EBITDAR	6.5B	6.84B	7.38B	8.51B	9.33B
Total Revenues (As Reported)	15.78B	17.61B	19.41B	21.5B	23.77B
Effective Tax Rate - (Ratio)	15.48	20.84	20.16	19.78	18.36
Current Domestic Taxes	494M	597M	1.46B	1.52B	1.77B
Current Foreign Taxes	197M	329M	335M	315M	348M
Total Current Taxes	691M	926M	1.79B	1.84B	2.12B
Deferred Domestic Taxes	-167M	-34M	-649M	-647M	-554M
Deferred Foreign Taxes	359M	360M	227M	179M	40M
Total Deferred Taxes	192M	326M	-422M	-468M	-514M
Normalized Net Income	3.56B	3.77B	4.24B	4.98B	5.43B
Interest on Long-Term Debt	113M	112M	113M	169M	263M
Supplemental Operating Expense Items
Advertising Expense	540M	1.04B	970M	1.04B	1.37B
Selling and Marketing Expenses	4.32B	4.97B	5.35B	5.76B	6.49B
General and Administrative Expenses	1.08B	1.22B	1.41B	1.45B	1.57B
Research And Development Expense From Footnotes	2.54B	2.99B	3.47B	3.94B	4.29B
Net Rental Expense, Total	119M	121M	117M	106M	92M
Imputed Operating Lease Interest Expense	22.93M	23.3M	24.28M	28.28M	30.45M
Imputed Operating Lease Depreciation	96.07M	97.7M	92.72M	77.72M	61.55M
Stock-Based Comp., COGS (Total)	70M	97M	115M	117M	122M
Stock-Based Comp., R&D Exp. (Total)	549M	726M	874M	932M	1.01B
Stock-Based Comp., S&M Exp. (Total)	307M	417M	495M	535M	557M
Stock-Based Comp., G&A Exp. (Total)	164M	200M	234M	249M	253M
Stock-Based Comp., Other (Total)	-	-	-	-	-
Total Stock-Based Compensation	1.09B	1.44B	1.72B	1.83B	1.94B

Fiscal Period: November	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	3.84B	4.24B	7.14B	7.61B	5.43B
Short Term Investments	1.95B	1.86B	701M	273M	1.16B
Trading Asset Securities, Total	-	-	-	-	2M
Total Cash And Short Term Investments	5.8B	6.1B	7.84B	7.89B	6.6B
Accounts Receivable, Total	1.88B	2.06B	2.22B	2.07B	2.34B
Total Receivables	1.88B	2.06B	2.22B	2.07B	2.34B
Prepaid Expenses	690M	561M	732M	916M	903M
Other Current Assets, Total	303M	274M	286M	358M	319M
Total Current Assets	8.67B	9B	11.08B	11.23B	10.16B
Gross Property Plant And Equipment	3.57B	3.88B	4.12B	3.87B	3.91B
Accumulated Depreciation	-1.45B	-1.57B	-1.73B	-1.66B	-1.73B
Net Property Plant And Equipment	2.12B	2.32B	2.39B	2.22B	2.18B
Long-term Investments	-	-	-	-	92M
Goodwill	12.67B	12.79B	12.8B	12.79B	12.86B
Other Intangibles, Total	1.82B	1.45B	1.09B	782M	495M
Accounts Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	1.08B	777M	1.19B	1.66B	2.19B
Deferred Charges Long-Term	406M	406M	422M	464M	464M
Other Long-Term Assets, Total	477M	435M	801M	1.09B	1.05B
Total Assets	27.24B	27.16B	29.78B	30.23B	29.5B
Liabilities
Accounts Payable, Total	312M	379M	314M	361M	417M
Accrued Expenses, Total	1.6B	1.67B	1.82B	2.03B	1.8B
Current Portion of Long-Term Debt	-	500M	-	1.5B	8M
Current Portion of Leases	97M	87M	73M	75M	77M
Current Income Taxes Payable	54M	75M	85M	119M	153M
Unearned Revenue Current, Total	4.73B	5.3B	5.84B	6.13B	6.9B
Other Current Liabilities	136M	121M	120M	309M	843M
Total Current Liabilities	6.93B	8.13B	8.25B	10.52B	10.2B
Long-Term Debt	4.12B	3.63B	3.63B	4.13B	6.21B
Long-Term Leases	453M	417M	373M	353M	361M
Unearned Revenue Non Current	145M	117M	113M	128M	125M
Deferred Tax Liability Non Current	5M	-	-	-	-
Other Non Current Liabilities	786M	823M	890M	994M	977M
Total Liabilities	12.44B	13.11B	13.26B	16.12B	17.87B
Common Stock, Total	-	-	-	-	-
Additional Paid In Capital	8.43B	9.87B	11.59B	13.42B	15.36B
Retained Earnings	23.9B	28.32B	33.35B	38.47B	45.35B
Treasury Stock	-17.4B	-23.84B	-28.13B	-37.58B	-48.85B
Comprehensive Income and Other	-137M	-293M	-285M	-201M	-245M
Total Common Equity	14.8B	14.05B	16.52B	14.1B	11.62B
Total Equity	14.8B	14.05B	16.52B	14.1B	11.62B
Total Liabilities And Equity	27.24B	27.16B	29.78B	30.23B	29.5B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	472M	458M	452M	435M	410M
ECS Total Common Shares Outstanding	475M	462M	455M	441M	413M
Book Value / Share	31.15	30.41	36.3	31.98	28.14
Tangible Book Value	309M	-185M	2.62B	535M	-1.73B
Tangible Book Value Per Share	0.65	-0.4	5.77	1.21	-4.19
Total Debt	4.67B	4.63B	4.08B	6.06B	6.66B
Net Debt	-1.12B	-1.46B	-3.76B	-1.83B	59M
Debt Equivalent of Unfunded Proj. Benefit Obligation	174M	178M	222M	297M	354M
Debt Equivalent Oper. Leases	952M	968M	936M	848M	736M
Account Code - Inventory Valuation	3	-	3	3	3
Land - (BS)	145M	144M	163M	163M	161M
Buildings, Total	904M	902M	1.66B	1.63B	1.65B
Machinery, Total	1.4B	1.5B	1.66B	1.55B	1.51B
Full Time Employees	25.99K	29.24K	29.94K	30.71K	31.36K
Accumulated Allowance for Doubtful Accounts (Supple)	16M	23M	16M	14M	13M
Order Backlog	-	-	-	-	-

Fiscal Period: November	2021	2022	2023	2024	2025
Net Income	4.82B	4.76B	5.43B	5.56B	7.13B
Depreciation & Amortization - CF	222M	213M	243M	249M	226M
Amortization of Goodwill and Intangible Assets - (CF)	354M	405M	375M	336M	310M
Depreciation & Amortization, Total	576M	618M	618M	585M	536M
Amortization of Deferred Charges, Total - (CF)	212M	238M	254M	272M	282M
(Gain) Loss on Sale of Investments - (CF)	-4M	29M	-10M	-35M	-
Asset Writedown & Restructuring Costs	-	-	-	78M	-
Stock-Based Compensation (CF)	1.07B	1.44B	1.72B	1.83B	1.94B
Tax Benefit from Stock Options	-	-	-	-	-
Other Operating Activities, Total	263M	421M	-351M	-381M	-464M
Change In Accounts Receivable	-430M	-198M	-159M	143M	-275M
Change In Accounts Payable	-20M	66M	-49M	44M	64M
Change in Unearned Revenues	1.05B	536M	536M	309M	771M
Change In Income Taxes	2M	19M	-11M	68M	-45M
Change in Other Net Operating Assets	-313M	-87M	-672M	-420M	90M
Cash from Operations	7.23B	7.84B	7.3B	8.06B	10.03B
Capital Expenditure	-348M	-442M	-360M	-183M	-179M
Cash Acquisitions	-2.68B	-126M	-	-	-17M
Investment in Marketable and Equity Securities, Total	-507M	-2M	1.14B	332M	-994M
Other Investing Activities, Total	-	-	-	-	3M
Cash from Investing	-3.54B	-570M	776M	149M	-1.19B
Long-Term Debt Issued, Total	-	-	-	2B	2B
Total Debt Issued	-	-	-	2B	2B
Long-Term Debt Repaid, Total	-	-	-500M	-	-1.5B
Total Debt Repaid	-	-	-500M	-	-1.5B
Issuance of Common Stock	291M	278M	314M	361M	348M
Repurchase of Common Stock	-4.67B	-7.07B	-4.99B	-10.18B	-11.76B
Other Financing Activities, Total	77M	-35M	-7M	95M	-149M
Cash from Financing	-4.3B	-6.82B	-5.18B	-7.72B	-11.06B
Foreign Exchange Rate Adjustments	-26M	-51M	9M	-9M	34M
Net Change in Cash	-634M	392M	2.9B	472M	-2.18B
Supplemental Items
Cash Interest Paid	100M	103M	106M	143M	246M
Cash Income Tax Paid (Refund)	843M	778M	1.85B	1.73B	2.22B
Levered Free Cash Flow	5.78B	6.27B	6.61B	7.95B	8.81B
Unlevered Free Cash Flow	5.85B	6.34B	6.68B	8.06B	8.97B
Change In Net Working Capital	-698M	-677M	-295M	-665M	-948M
Net Debt Issued / Repaid	-	-	-500M	2B	497M

Fiscal Period: November	2021	2022	2023	2024	2025
Profitability
Return on Assets	14.08	14.01	14.6	16.29	18.22
Return on Total Capital	19.37	19.98	21.16	23.98	28.31
Return On Equity %	34.37	32.97	35.51	36.31	55.43
Return on Common Equity	34.37	32.97	35.51	36.31	55.43
Margin Analysis
Gross Profit Margin %	88.18	87.7	87.87	89.04	89.27
SG&A Margin	34.25	35.14	34.85	33.55	33.91
EBITDA Margin %	40.41	38.15	37.45	39.08	38.88
EBITA Margin %	39	36.94	36.19	37.92	37.93
EBIT Margin %	36.76	34.64	34.26	36.36	36.63
Income From Continuing Operations Margin %	30.55	27.01	27.97	25.85	30
Net Income Margin %	30.55	27.01	27.97	25.85	30
Net Avail. For Common Margin %	30.55	27.01	27.97	25.85	30
Normalized Net Income Margin	22.53	21.4	21.86	23.14	22.86
Levered Free Cash Flow Margin	36.64	35.63	34.06	36.98	37.05
Unlevered Free Cash Flow Margin	37.09	36.02	34.42	37.47	37.74
Asset Turnover
Asset Turnover	0.61	0.65	0.68	0.72	0.8
Fixed Assets Turnover	7.66	7.95	8.25	9.34	10.8
Receivables Turnover (Average Receivables)	9.64	8.93	9.05	10.01	10.76
Short Term Liquidity
Current Ratio	1.25	1.11	1.34	1.07	1
Quick Ratio	1.11	1	1.22	0.95	0.88
Operating Cash Flow to Current Liabilities	1.04	0.96	0.88	0.77	0.98
Days Sales Outstanding (Average Receivables)	38.5	40.76	40.22	36.36	33.81
Average Days Payable Outstanding	61.47	58.09	53.58	52.1	55.51
Long Term Solvency
Total Debt/Equity	31.58	32.97	24.7	42.94	57.27
Total Debt / Total Capital	24	24.8	19.81	30.04	36.41
LT Debt/Equity	30.93	28.8	24.26	31.78	56.53
Long-Term Debt / Total Capital	23.5	21.65	19.45	22.23	35.95
Total Liabilities / Total Assets	45.68	48.28	44.53	53.34	60.59
EBIT / Interest Expense	51.35	54.45	58.85	46.27	33.1
EBITDA / Interest Expense	57.5	61.04	65.35	50.36	35.49
(EBITDA - Capex) / Interest Expense	54.42	57.1	62.17	49.27	34.81
Total Debt / EBITDA	0.72	0.68	0.55	0.71	0.71
Net Debt / EBITDA	-0.17	-0.21	-0.51	-0.22	0.01
Total Debt / (EBITDA - Capex)	0.76	0.72	0.58	0.73	0.73
Net Debt / (EBITDA - Capex)	-0.18	-0.23	-0.54	-0.22	0.01
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	22.67	11.54	10.24	10.8	10.53
Gross Profit, 1 Yr. Growth %	24.89	10.93	10.45	12.27	10.82
EBITDA, 1 Yr. Growth %	32.65	5.3	8.22	15.63	9.97
EBITA, 1 Yr. Growth %	33.71	5.64	8.03	16.09	10.56
EBIT, 1 Yr. Growth %	36.94	5.1	9.05	17.58	11.34
Earnings From Cont. Operations, 1 Yr. Growth %	-8.33	-1.37	14.13	2.43	28.24
Net Income, 1 Yr. Growth %	-8.33	-1.37	14.13	2.43	28.24
Normalized Net Income, 1 Yr. Growth %	36.69	5.94	12.66	17.26	9.17
Diluted EPS Before Extra, 1 Yr. Growth %	-7.48	0.8	17.03	4.57	35.11
Accounts Receivable, 1 Yr. Growth %	34.33	9.96	7.7	-6.83	13.13
Net Property, Plant and Equip., 1 Yr. Growth %	5.59	9.4	3.15	-7.16	-1.44
Total Assets, 1 Yr. Growth %	12.18	-0.28	9.62	1.51	-2.43
Tangible Book Value, 1 Yr. Growth %	-73.43	-159.87	-1.52K	-79.62	-423.18
Common Equity, 1 Yr. Growth %	11.56	-5.04	17.56	-14.61	-17.6
Cash From Operations, 1 Yr. Growth %	26.24	8.41	-6.84	10.33	24.52
Capital Expenditures, 1 Yr. Growth %	-16.95	27.01	-18.55	-49.17	-2.19
Levered Free Cash Flow, 1 Yr. Growth %	32.51	8.45	5.39	20.31	10.72
Unlevered Free Cash Flow, 1 Yr. Growth %	31.94	8.34	5.35	20.62	11.31
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	18.87	16.97	10.89	10.52	10.66
Gross Profit, 2 Yr. CAGR %	21.06	17.7	10.69	11.36	11.54
EBITDA, 2 Yr. CAGR %	25.88	18.19	6.75	11.86	12.77
EBITA, 2 Yr. CAGR %	29.51	18.85	6.83	11.98	13.29
EBIT, 2 Yr. CAGR %	33.24	19.97	7.06	13.24	14.42
Earnings From Cont. Operations, 2 Yr. CAGR %	27.83	-4.91	6.1	8.12	14.61
Net Income, 2 Yr. CAGR %	27.83	-4.91	6.1	8.12	14.61
Normalized Net Income, 2 Yr. CAGR %	34.32	20.32	9.25	14.94	13.14
Diluted EPS Before Extra, 2 Yr. CAGR %	29.23	-3.43	8.61	10.62	18.86
Accounts Receivable, 2 Yr. CAGR %	10.61	21.54	8.82	0.17	2.66
Net Property, Plant and Equip., 2 Yr. CAGR %	27.93	7.48	6.23	-2.14	-4.34
Total Assets, 2 Yr. CAGR %	14.55	5.77	4.55	5.49	-0.48
Tangible Book Value, 2 Yr. CAGR %	-59.48	-60.12	191.46	70.06	-18.84
Common Equity, 2 Yr. CAGR %	18.54	2.92	5.66	0.19	-16.12
Cash From Operations, 2 Yr. CAGR %	27.87	16.99	0.5	1.38	17.21
Capital Expenditures, 2 Yr. CAGR %	-6.14	2.71	1.71	-35.66	-29.49
Levered Free Cash Flow, 2 Yr. CAGR %	35.6	19.88	6.91	12.61	15.42
Unlevered Free Cash Flow, 2 Yr. CAGR %	34.35	19.56	6.83	12.72	15.87
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	20.46	16.37	14.68	10.86	10.52
Gross Profit, 3 Yr. CAGR %	21.12	17.58	15.23	11.21	11.18
EBITDA, 3 Yr. CAGR %	26.03	18.61	14.77	9.63	11.23
EBITA, 3 Yr. CAGR %	26.75	21.01	15.13	9.83	11.51
EBIT, 3 Yr. CAGR %	26.89	23.11	16.21	10.46	12.6
Earnings From Cont. Operations, 3 Yr. CAGR %	23	17.24	1.05	4.86	14.45
Net Income, 3 Yr. CAGR %	23	17.24	1.05	4.86	14.45
Normalized Net Income, 3 Yr. CAGR %	26.63	24.11	17.71	11.86	12.98
Diluted EPS Before Extra, 3 Yr. CAGR %	24.44	18.96	2.96	7.25	18.25
Accounts Receivable, 3 Yr. CAGR %	12.6	10.39	16.74	3.33	4.31
Net Property, Plant and Equip., 3 Yr. CAGR %	25.32	21.43	6.02	1.57	-1.91
Total Assets, 3 Yr. CAGR %	13.22	9.37	7.04	3.53	2.78
Tangible Book Value, 3 Yr. CAGR %	-54.54	-53.85	31.17	20.08	110.64
Common Equity, 3 Yr. CAGR %	16.48	10.09	7.59	-1.58	-6.13
Cash From Operations, 3 Yr. CAGR %	21.52	21.02	8.44	3.67	8.57
Capital Expenditures, 3 Yr. CAGR %	9.23	3.82	-4.93	-19.28	-26.02
Levered Free Cash Flow, 3 Yr. CAGR %	24.71	25.87	14.84	11.2	11.97
Unlevered Free Cash Flow, 3 Yr. CAGR %	24.45	25.05	14.62	11.24	12.25
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	21.94	19.25	16.54	14	13.06
Gross Profit, 5 Yr. CAGR %	22.56	19.67	16.83	15.05	13.74
EBITDA, 5 Yr. CAGR %	28.43	21.91	17.93	15.86	13.96
EBITA, 5 Yr. CAGR %	30.19	22.87	18.37	17.31	14.39
EBIT, 5 Yr. CAGR %	31.18	22.98	18.55	19.06	15.49
Earnings From Cont. Operations, 5 Yr. CAGR %	32.77	22.93	15.94	13.51	6.27
Net Income, 5 Yr. CAGR %	32.77	22.93	15.94	13.51	6.27
Normalized Net Income, 5 Yr. CAGR %	31.72	23.13	19.37	20.35	15.86
Diluted EPS Before Extra, 5 Yr. CAGR %	33.99	24.47	17.85	15.55	9.05
Accounts Receivable, 5 Yr. CAGR %	17.65	11.14	11.07	6.18	10.89
Net Property, Plant and Equip., 5 Yr. CAGR %	20.99	19.83	17.31	11.39	1.74
Total Assets, 5 Yr. CAGR %	16.49	13.32	9.67	7.8	3.97
Tangible Book Value, 5 Yr. CAGR %	-28.06	-39.34	-4.4	-22.24	8.25
Common Equity, 5 Yr. CAGR %	14.79	10.68	12.03	6.02	-2.61
Cash From Operations, 5 Yr. CAGR %	26.87	21.89	12.63	12.75	11.86
Capital Expenditures, 5 Yr. CAGR %	11.29	19.93	6.16	-14.26	-15.64
Levered Free Cash Flow, 5 Yr. CAGR %	27.45	22.46	17.26	20.39	15.07
Unlevered Free Cash Flow, 5 Yr. CAGR %	27.12	22.24	17.08	19.96	15.12