Adobe Inc. operates as a technology company worldwide. The Digital Media segment offers products and services that enable individuals, teams, and enterprises to create, publish, and promote content. This segment serves photographers, video editors, graphic and experience designers, game developers, content creators, students, marketers, business owners, knowledge workers, and consumers. The Digital Experience segment provides an integrated platform; and products, services, and solutions that enable brands and businesses to create, manage, execute, measure, monetize, and optimize customer experiences from analytics to commerce. This segment serves marketers, advertisers, agencies, publishers, merchandisers, merchants, web analysts, data scientists, developers, and executives across the C-suite. The Publishing and Advertising segment offers e-learning, technical document publishing, web conferencing, document and forms platform, web application development, printing, and Adobe Advertising solutions. It also provides consulting, training, customer management, technical support, and learning services. The company offers its solutions to enterprise customers, and businesses and consumers; and licenses its products to end-user customers through app stores and website at adobe.com. It markets and distributes its products through distributors, retailers, software developers, mobile app stores, systems integrators, independent software vendors, value-added resellers, and original equipment and hardware manufacturers. The company has a strategic alliance with HUMAIN for the development of generative AI models and AI-powered applications. The company was formerly known as Adobe Systems Incorporated and changed its name to Adobe Inc. in October 2018. Adobe Inc. was founded in 1982 and is headquartered in San Jose, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $23.8B | $9.8B | $7.1B | $9.9B | 61.3% | 10.5% | 28.2% |
| 2024 | $21.5B | $8.0B | $5.6B | $7.9B | 39.4% | 10.8% | 2.4% |
| 2023 | $19.4B | $7.8B | $5.4B | $6.9B | 32.9% | 10.2% | 14.1% |
| 2022 | $17.6B | $7.0B | $4.8B | $7.4B | 33.8% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 17,606 | 19,409 | 21,505 | 23,769 |
| Cost Of Revenue | 2,165 | 2,354 | 2,358 | 2,551 |
| Gross Profit | 15,441 | 17,055 | 19,147 | 21,218 |
| Operating Expense | 9,343 | 10,405 | 11,406 | 12,512 |
| Operating Income | 6,098 | 6,650 | 7,741 | 8,706 |
| EBITDA | 6,976 | 7,784 | 7,957 | 9,815 |
| EBIT | 6,120 | 6,912 | 7,100 | 8,997 |
| Pretax Income | 6,008 | 6,799 | 6,931 | 8,734 |
| Tax Provision | 1,252 | 1,371 | 1,371 | 1,604 |
| Net Income | 4,756 | 5,428 | 5,560 | 7,130 |
| Net Income Common Stockholders | 4,756 | 5,428 | 5,560 | 7,130 |
| Total Expenses | 11,508 | 12,759 | 13,764 | 15,063 |
| Interest Expense | 112 | 113 | 169 | 263 |
| Interest Income | 61 | 269 | 341 | 264 |
| Research And Development | 2,987 | 3,473 | 3,944 | 4,294 |
| Selling General And Administration | 6,187 | 6,764 | 7,293 | 8,061 |
| Normalized EBITDA | 7,016 | 7,792 | 8,939 | 9,788 |
| Normalized Income | 4,787.60 | 5,434.40 | 6,345.60 | 7,107.86 |
| Market Cap | 99,206.85 | 99,206.85 | 99,206.85 | 99,206.85 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Adobe Inc.this co. | ADBE | $104.6B | 13.91β discount | 8.54 | 61.3% | 10.23 |
| Palo Alto Networks, Inc. | PANW | $118.4B | 127.70 | 18.51 | 14.5% | 73.60 |
| Accenture plc | ACN | $111.5B | 14.30 | 3.52 | 24.6% | 8.97 |
| Intuit Inc. | INTU | $110.8B | 28.48 | 5.59 | 19.6% | 19.34 |
| Cadence Design Systems, Inc. | CDNS | $90.3B | 82.88 |
| 16.79 |
| 20.3% |
| 48.88 |
| Synopsys, Inc. | SNPS | $82.1B | 72.01 | 3.39 | 4.7% | 42.93 |
| Automatic Data Processing, Inc. | ADP | $80.0B | 19.40 | 12.79 | 65.9% | 13.37 |
| Monolithic Power Systems, Inc. | MPWR | $78.4B | 128.99 | 22.70 | 17.6% | 101.24 |
| Ciena Corporation | CIEN | $73.8B | 597.06 | 26.98 | 4.5% | 190.98 |
| Peer Median | - | 77.45 | 14.79 | 18.6% | 45.91 | |