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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% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 17,606 | 19,409 | 21,505 | 23,769 |
| Operating 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 |
| Research And Development | - | 2,987 | 3,473 | 3,944 | 4,294 |
| Selling General And Administration | - | 6,187 | 6,764 | 7,293 | 8,061 |
| Total Expenses | - | 11,508 | 12,759 | 13,764 | 15,063 |
| Operating Income | - | 6,098 | 6,650 | 7,741 | 8,706 |
| Total Operating Income As Reported | - | 6,098 | 6,650 | 6,741 | 8,706 |
| EBITDA | - | 6,976 | 7,784 | 7,957 | 9,815 |
| Normalized EBITDA | - | 7,016 | 7,792 | 8,939 | 9,788 |
| EBIT | - | 6,120 | 6,912 | 7,100 | 8,997 |
| Interest Income | - | 61 | 269 | 341 | 264 |
| Interest Expense | - | 112 | 113 | 169 | 263 |
| Net Interest Income | - | -51 | 156 | 172 | 1 |
| Other Non Operating Income Expenses | - | 1 | 1 | - | - |
| Other Income Expense | - | -39 | -7 | -982 | 27 |
| Interest Income Non Operating | - | 61 | 269 | 341 | 264 |
| Interest Expense Non Operating | - | 112 | 113 | 169 | 263 |
| Net Non Operating Interest Income Expense | - | -51 | 156 | 172 | 1 |
| Pretax Income | - | 6,008 | 6,799 | 6,931 | 8,734 |
| Tax Provision | - | 1,252 | 1,371 | 1,371 | 1,604 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -8.40 | -1.60 | -196.40 | 4.86 |
| Net Income Continuous Operations | - | 4,756 | 5,428 | 5,560 | 7,130 |
| Net Income From Continuing And Discontinued Operation | - | 4,756 | 5,428 | 5,560 | 7,130 |
| Net Income From Continuing Operation Net Minority Interest | - | 4,756 | 5,428 | 5,560 | 7,130 |
| Net Income | - | 4,756 | 5,428 | 5,560 | 7,130 |
| Net Income Common Stockholders | - | 4,756 | 5,428 | 5,560 | 7,130 |
| Net Income Including Noncontrolling Interests | - | 4,756 | 5,428 | 5,560 | 7,130 |
| Normalized Income | - | 4,787.60 | 5,434.40 | 6,345.60 | 7,107.86 |
| Diluted NI Availto Com Stockholders | - | 4,756 | 5,428 | 5,560 | 7,130 |
| Basic Average Shares | - | 470 | 457 | 447 | 426 |
| Diluted Average Shares | - | 471 | 459 | 450 | 427 |
| Reconciled Depreciation | - | 856 | 872 | 857 | 818 |
| Reconciled Cost Of Revenue | - | 1,478 | 1,650 | 1,670 | 1,890 |
| Total Unusual Items | - | -40 | -8 | -982 | 27 |
| Total Unusual Items Excluding Goodwill | - | -40 | -8 | -982 | 27 |
| Special Income Charges | - | 0 | 0 | -1,000 | 0 |
| Restructuring And Mergern Acquisition | - | 0 | 0 | 1,000 | 0 |
| Gain On Sale Of Security | - | -40 | -8 | 18 | 27 |
| Depreciation Amortization Depletion Income Statement | - | 169 | 168 | 169 | 157 |
| Depreciation And Amortization In Income Statement | - | 169 | 168 | 169 | 157 |
| General And Administrative Expense | - | 1,219 | 1,413 | 1,529 | 1,573 |
| Other Gand A | - | 1,219 | 1,413 | 1,529 | 1,573 |
| Selling And Marketing Expense | - | 4,968 | 5,351 | 5,764 | 6,488 |
| Amortization | - | 169 | 168 | 169 | 157 |
| Amortization Of Intangibles Income Statement | - | 169 | 168 | 169 | 157 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Adobe Inc.this co. | ADBE | $104.5B | 14.65↓ discount | 8.99 | 61.3% | 10.65 |
| ServiceNow, Inc. | NOW | $123.1B | 70.42 | 9.50 | 13.5% | 40.30 |
| Cadence Design Systems, Inc. | CDNS | $113.5B | 102.40 | 20.74 | 20.3% | 60.35 |
| Accenture plc | ACN | $110.1B | 14.34 | 3.53 | 24.6% | 9.00 |
| Fortinet, Inc. | FTNT | $109.7B | 59.16 | 88.61 |
| - |
| - |
| - |
| - |
| 149.8% |
| 44.07 |
| Synopsys, Inc. | SNPS | $94.7B | 71.07 | 3.34 | 4.7% | 42.40 |
| Automatic Data Processing, Inc. | ADP | $92.5B | 22.66 | 14.94 | 65.9% | 14.76 |
| Datadog, Inc. | DDOG | $86.7B | 804.83 | 23.23 | 2.9% | 430.85 |
| Intuit Inc. | INTU | $82.6B | 21.35 | 4.19 | 19.6% | 14.66 |
| Peer Median | - | 64.79 | 12.22 | 19.9% | 41.35 | |