Gross margin
89.3% Fiscal year 2025
Rank 98 of 100: higher than 98% of 153 peers (All). strong.
Rank 99 of 100: higher than 99% of 57 peers (Sector). strong.
Median Technology: 56.1%
Share of revenue left after the direct cost of the products sold.
About the company
Adobe develops software for design, documents and digital marketing. Well-known products include Photoshop, Illustrator, Premiere Pro and Acrobat with the PDF format, bundled in Creative Cloud. It also offers marketing tools for businesses and the AI image features of Firefly. As of Oct 11, 2026
Fact sheet (from the annual report) Software (packaged programs) · San Jose, USA
Adobe offers programs and platforms for creativity and productivity, for example for business professionals, consumers, creatives and marketers. With the Acrobat family, users read, edit, sign and create documents; the Acrobat Reader version is free. Firefly is a family of generative models for images, video, vector graphics and audio and is offered in tiered subscriptions. The Digital Media area includes Creative Cloud subscriptions with Photoshop, Illustrator and Premiere Pro, among others. The Digital Experience area is aimed at marketers, for example with Adobe Experience Platform, analytics tools and Adobe Commerce. There are also consulting, customer care, technical support and training; consulting is offered by subscription or per project.
Automatically summarized from SEC annual report (10-K, filed Jan 15, 2026) (website of the US Securities and Exchange Commission) · reviewed Oct 14, 2026
Price performance at a glance
Last 30 trading days
- Today −2.0%
- 7 days +4.7%
- 30 days +9.8%
- 1 year −26.8%
Day range (last trading day)
−1.8%Price at 49% of the range+1.8%
52-week range
−26.5%Price at 40% of the range+40.6%
- Distance from the all-time high
- −63.0%
Our own calculation from the exchange’s daily candles, as of Oct 26, 2026. “All-time” applies since the start of this series, not to the whole market. Changes in percent; the TradingView chart shows prices. “Today” = change of the last trading day versus the previous day. Not investment advice.
Gap with volume · Analysis method
This method currently detects no pattern for ADBE. The check runs daily after the close.
You see new patterns immediately from Watcher, on the free plan 2 days after they form. Plans and pricing
What does the pattern show?
What is this? After strong news, usually earnings, the price opened above the previous day’s high and closed much higher on heavy volume. Such moves often continue for a few more days.
This is a calculated analysis, not a forecast and not a call to buy. Risk notice and investment advice
Fundamental analysis
SEC filing (10-K, 10-Q)Required reports of listed companies to the US Securities and Exchange Commission (SEC): 10-K is the annual report, 10-Q the quarterly report, 20-F the annual report of foreign companies. We show the figures of the first filing.Example: 10-K for the fiscal year ending Sep 27, 2025, filed on Oct 31, 2025.More in the Academy: Lesson revenue, profit and marginAdobe Inc. · Sector Technology · amounts in USD
Information only – does not affect the other analysis methods, not investment advice. Source: SEC filings, As of Jan 15, 2026.
Quality checks
Four angles on the annual figures. Each check counts how many disclosed criteria are met – criteria without data do not count. The bars show where the company ranks on each figure among the stocks we cover and within its sector.
Fiscal year to Nov 28, 2025
Quality
Profitability, consistency, balance sheet
8 of 8 criteria met
Growth
Revenue and earnings per share
7 of 7 criteria met
Dividend
Level, consistency, coverage · 6 without data
0 of 1 criteria met
Financial strength
Piotroski, debt, liquidity
6 of 6 criteria met
Quality 8 of 8 met
- met: Gross margin above 40% 89.3%
- met: Operating margin above 15% 36.6%
- met: Net margin above 10% 30.0%
- met: Return on equity above 15% 61.3%
- met: Free cash flow margin above 10% 41.4%
- met: Profit in each of the last 5 fiscal years 5 of 5
- met: Free cash flow positive in each of the last 3 fiscal years 3 of 3
- met: Equity ratio above 30% 39.4%
Operating margin
36.6% Fiscal year 2025
Rank 87 of 100: higher than 87% of 192 peers (All). strong.
Rank 88 of 100: higher than 88% of 60 peers (Sector). strong.
Median Technology: 14.2%
Operating income divided by revenue: what the core business earns before interest and taxes.
Net margin
30.0% Fiscal year 2025
Rank 85 of 100: higher than 85% of 237 peers (All). strong.
Rank 79 of 100: higher than 79% of 63 peers (Sector). strong.
Median Technology: 12.5%
Profit after all costs, interest and taxes divided by revenue.
Return on equity
61.3% Fiscal year 2025
Rank 91 of 100: higher than 91% of 218 peers (All). strong.
Rank 84 of 100: higher than 84% of 61 peers (Sector). strong.
Median Technology: 13.5%
Net income divided by equity at fiscal year end.
Return on assets
24.2% Fiscal year 2025 (total assets at year end)
Rank 95 of 100: higher than 95% of 238 peers (All). strong.
Rank 87 of 100: higher than 87% of 63 peers (Sector). strong.
Median Technology: 5.9%
Net income divided by total assets at fiscal year end.
Equity ratio
39.4% Fiscal year 2025
Rank 57 of 100: higher than 57% of 239 peers (All). medium.
Rank 36 of 100: higher than 36% of 63 peers (Sector). medium.
Median Technology: 51.6%
Equity as a share of total assets. Usually low for banks.
Free cash flow margin
41.4% Fiscal year 2025
Rank 95 of 100: higher than 95% of 213 peers (All). strong.
Rank 90 of 100: higher than 90% of 62 peers (Sector). strong.
Median Technology: 19.0%
Free cash flow divided by revenue.
Free cash flow
9.9B USD Fiscal year 2025
Operating cash flow minus capital expenditure on property and equipment.
Growth 7 of 7 met
- met: Over 3 years, revenue grew by more than 5% per year +10.5%
- met: Over 5 years, revenue grew by more than 5% per year +13.1%
- met: Over 10 years, revenue grew by more than 5% per year +17.4%
- met: Over 3 years, EPS grew by more than 5% per year +18.2%
- met: Over 5 years, EPS grew by more than 5% per year +9.0%
- met: Revenue rose in at least 4 of the last 5 fiscal years 5 of 5
- met: Revenue rose in the last fiscal year +10.5%
Revenue growth 3 years
+10.5% per year
Rank 58 of 100: higher than 58% of 230 peers (All). medium.
Rank 40 of 100: higher than 40% of 59 peers (Sector). medium.
Median Technology: +14.3%
Average growth per year over 3 fiscal years.
Revenue growth 5 years
+13.1% per year
Rank 56 of 100: higher than 56% of 217 peers (All). medium.
Rank 36 of 100: higher than 36% of 54 peers (Sector). medium.
Median Technology: +14.5%
Average growth per year over 5 fiscal years.
Revenue growth 10 years
+17.4% per year
Rank 84 of 100: higher than 84% of 157 peers (All). strong.
Rank 69 of 100: higher than 69% of 37 peers (Sector). strong.
Median Technology: +12.4%
Average growth per year over 10 fiscal years.
EPS growth 3 years
+18.2% per year
Rank 65 of 100: higher than 65% of 157 peers (All). medium.
Rank 48 of 100: higher than 48% of 32 peers (Sector). medium.
Median Technology: +19.2%
Growth of earnings per share per year, adjusted for stock splits.
EPS growth 5 years
+9.0% per year
Rank 38 of 100: higher than 38% of 146 peers (All). medium.
Rank 25 of 100: higher than 25% of 34 peers (Sector). weak.
Median Technology: +17.0%
Growth of earnings per share per year, adjusted for stock splits.
EPS growth 10 years
+29.7% per year
Rank 92 of 100: higher than 92% of 140 peers (All). strong.
Rank 76 of 100: higher than 76% of 27 peers (Sector). strong.
Median Technology: +17.5%
Growth of earnings per share per year, adjusted for stock splits.
Dividend 0 of 1 met · 6 without data
- not met: Pays a dividend no dividend per share reported for the last fiscal year
- no data: Payout ratio at most 60% of earnings pays no dividend
- no data: Dividend paid in each of the last 5 fiscal years pays no dividend
- no data: Dividend per share never lowered in the last 5 fiscal years pays no dividend
- no data: Dividend per share higher than 5 years ago pays no dividend
- no data: Free cash flow per share covers the dividend pays no dividend
- no data: Dividends paid over the last 5 years covered by free cash flow pays no dividend
Financial strength 6 of 6 met
- met: Piotroski F-Score at least 7 of 9 7 of 9
- met: Long-term debt no higher than equity 0.53
- met: Current assets cover current liabilities 1.00
- met: Positive equity 11.6B USD
- met: In 5 years, share count up by at most 5% −12.0%
- met: Free cash flow positive in the last fiscal year 9.9B USD
Piotroski F-Score
7 of 9 Fiscal year 2025
Rank 72 of 100: higher than 72% of 134 peers (All). strong.
Rank 70 of 100: higher than 70% of 44 peers (Sector). strong.
Median Technology: 6.0 of 9
Nine yes/no tests on profit, cash flow, debt, liquidity and efficiency compared with the prior year.
Debt / equity
0.53 at fiscal year end
Rank 54 of 100: lower than 54% of 199 peers (All). medium.
Rank 42 of 100: lower than 42% of 54 peers (Sector). medium.
Median Technology: 0.41
Long-term financial debt divided by equity.
Liquidity (current ratio)
1.00 at fiscal year end
Rank 23 of 100: higher than 23% of 215 peers (All). weak.
Rank 13 of 100: higher than 13% of 63 peers (Sector). weak.
Median Technology: 2.02
Current assets divided by current liabilities.
Change in share count
−12.0% in 5 years
Rank 86 of 100: lower than 86% of 199 peers (All). strong.
Rank 91 of 100: lower than 91% of 51 peers (Sector). strong.
Median Technology: +2.8%
Change in diluted share count. Negative = share buybacks, positive = new shares.
The 9 criteria of the Piotroski F-Score
- met: Profit in the last fiscal year (positive return on assets)
- met: Positive operating cash flow
- met: Return on assets higher than the prior year
- met: Operating cash flow higher than net income
- not met: Long-term debt relative to total assets fell
- not met: Liquidity (current assets / current liabilities) rose
- met: No additional shares (diluted share count did not rise)
- met: Gross margin higher than the prior year
- met: Revenue relative to total assets higher than the prior year
Last fiscal year compared with the one before. Returns and revenue per total assets use total assets at the start of the year; leverage = long-term financial debt divided by total assets at year end; new shares via the average diluted share count.
Price-based criteria (P/E, dividend yield) are shown to signed-in users.
Computed automatically from SEC annual reports – not investment advice. Describes the reported figures; points are not a rating of the stock. Rank 0–100 against the 239 stocks we cover and against the sector (from 5 peers); the stronger side is always on the right.
In short
- Light yellow: Revenue grew over 5 years (+13.1% per year), more slowly than the sector median.
- Light yellow: Net income (total) grew over 5 years (+6.3% per year), more slowly than the sector median; per share +9.0% per year.
- Light green: Net margin 30.0%, above the sector median (12.5%).
- Light green: Debt not higher than usual in the sector.
- Light green: Profit in each of the last 10 fiscal years.
Summarized from the lights below. Describes the reported figures – not a recommendation to buy or sell.
- Fiscal year 2016 (Nov 28, 2015 – Dec 2, 2016): Revenue 5.9B USD · Net income 1.2B USD · Net margin 20.0%
- Fiscal year 2017 (Dec 3, 2016 – Dec 1, 2017): Revenue 7.3B USD · Net income 1.7B USD · Net margin 23.2%
- Fiscal year 2018 (Dec 2, 2017 – Nov 30, 2018): Revenue 9.0B USD · Net income 2.6B USD · Net margin 28.7%
- Fiscal year 2019 (Dec 1, 2018 – Nov 29, 2019): Revenue 11.2B USD · Net income 3.0B USD · Net margin 26.4%
- Fiscal year 2020 (Nov 30, 2019 – Nov 27, 2020): Revenue 12.9B USD · Net income 5.3B USD · Net margin 40.9%
- Fiscal year 2021 (Nov 28, 2020 – Dec 3, 2021): Revenue 15.8B USD · Net income 4.8B USD · Net margin 30.5%
- Fiscal year 2022 (Dec 4, 2021 – Dec 2, 2022): Revenue 17.6B USD · Net income 4.8B USD · Net margin 27.0%
- Fiscal year 2023 (Dec 3, 2022 – Dec 1, 2023): Revenue 19.4B USD · Net income 5.4B USD · Net margin 28.0%
- Fiscal year 2024 (Dec 2, 2023 – Nov 29, 2024): Revenue 21.5B USD · Net income 5.6B USD · Net margin 25.9%
- Fiscal year 2025 (Nov 30, 2024 – Nov 28, 2025): Revenue 23.8B USD · Net income 7.1B USD · Net margin 30.0%
- Quarter Q4/23 (Sep 2, 2023 – Dec 1, 2023): Revenue 5.0B USD · Net income 1.5B USD · Net margin 29.4% · Q4 derived (year minus 9 months), may be distorted by restatements
- Quarter Q1/24 (Dec 2, 2023 – Mar 1, 2024): Revenue 5.2B USD · Net income 620.0M USD · Net margin 12.0%
- Quarter Q2/24 (Mar 2, 2024 – May 31, 2024): Revenue 5.3B USD · Net income 1.6B USD · Net margin 29.6%
- Quarter Q3/24 (Jun 1, 2024 – Aug 30, 2024): Revenue 5.4B USD · Net income 1.7B USD · Net margin 31.1%
- Quarter Q4/24 (Aug 31, 2024 – Nov 29, 2024): Revenue 5.6B USD · Net income 1.7B USD · Net margin 30.0% · Q4 derived (year minus 9 months), may be distorted by restatements
- Quarter Q1/25 (Nov 30, 2024 – Feb 28, 2025): Revenue 5.7B USD · Net income 1.8B USD · Net margin 31.7%
- Quarter Q2/25 (Mar 1, 2025 – May 30, 2025): Revenue 5.9B USD · Net income 1.7B USD · Net margin 28.8%
- Quarter Q3/25 (May 31, 2025 – Aug 29, 2025): Revenue 6.0B USD · Net income 1.8B USD · Net margin 29.6%
- Quarter Q4/25 (Aug 30, 2025 – Nov 28, 2025): Revenue 6.2B USD · Net income 1.9B USD · Net margin 30.0% · Q4 derived (year minus 9 months), may be distorted by restatements
- Quarter Q1/26 (Nov 29, 2025 – Feb 27, 2026): Revenue 6.4B USD · Net income 1.9B USD · Net margin 29.5%
- Quarter Q2/26 (Feb 28, 2026 – May 29, 2026): Revenue 6.6B USD · Net income 1.7B USD · Net margin 25.9%
- Quarter Q3/26 (May 30, 2026 – Aug 28, 2026): Revenue 6.8B USD · Net income 1.8B USD · Net margin 27.0%
- Fiscal year 2016 (Nov 28, 2015 – Dec 2, 2016): Earnings per share 2.32 USD
- Fiscal year 2017 (Dec 3, 2016 – Dec 1, 2017): Earnings per share 3.38 USD
- Fiscal year 2018 (Dec 2, 2017 – Nov 30, 2018): Earnings per share 5.20 USD
- Fiscal year 2019 (Dec 1, 2018 – Nov 29, 2019): Earnings per share 6.00 USD
- Fiscal year 2020 (Nov 30, 2019 – Nov 27, 2020): Earnings per share 10.83 USD
- Fiscal year 2021 (Nov 28, 2020 – Dec 3, 2021): Earnings per share 10.02 USD
- Fiscal year 2022 (Dec 4, 2021 – Dec 2, 2022): Earnings per share 10.10 USD
- Fiscal year 2023 (Dec 3, 2022 – Dec 1, 2023): Earnings per share 11.82 USD
- Fiscal year 2024 (Dec 2, 2023 – Nov 29, 2024): Earnings per share 12.36 USD
- Fiscal year 2025 (Nov 30, 2024 – Nov 28, 2025): Earnings per share 16.70 USD
- Quarter Q4/23 (Sep 2, 2023 – Dec 1, 2023): Earnings per share not reported separately for Q4
- Quarter Q1/24 (Dec 2, 2023 – Mar 1, 2024): Earnings per share 1.36 USD
- Quarter Q2/24 (Mar 2, 2024 – May 31, 2024): Earnings per share 3.49 USD
- Quarter Q3/24 (Jun 1, 2024 – Aug 30, 2024): Earnings per share 3.76 USD
- Quarter Q4/24 (Aug 31, 2024 – Nov 29, 2024): Earnings per share not reported separately for Q4
- Quarter Q1/25 (Nov 30, 2024 – Feb 28, 2025): Earnings per share 4.14 USD
- Quarter Q2/25 (Mar 1, 2025 – May 30, 2025): Earnings per share 3.94 USD
- Quarter Q3/25 (May 31, 2025 – Aug 29, 2025): Earnings per share 4.18 USD
- Quarter Q4/25 (Aug 30, 2025 – Nov 28, 2025): Earnings per share not reported separately for Q4
- Quarter Q1/26 (Nov 29, 2025 – Feb 27, 2026): Earnings per share 4.60 USD
- Quarter Q2/26 (Feb 28, 2026 – May 29, 2026): Earnings per share 4.25 USD
- Quarter Q3/26 (May 30, 2026 – Aug 28, 2026): Earnings per share 4.62 USD
No reported values for “Dividend per share” in this interval.
No reported values for “Dividend per share” in this interval.
Fiscal year 2025 (Nov 30, 2024 – Nov 28, 2025): Revenue 23.8B USD · Net income 7.1B USD · Net margin 30.0%
Figures over time
Where the money of a fiscal year goes and how margins, returns, balance sheet, cash flow and share count developed over up to 10 years. Each chart has one sentence saying what the trend shows.
Money flow in fiscal year 2025
Of 100 USD of revenue, 89.3 USD gross profit, 36.6 USD operating income and 30.0 USD net income remained.
Money flow as a table
| Item | Amount | of revenue |
|---|---|---|
| Revenue | 23.8B USD | 100.0% |
| Gross profit | 21.2B USD | 89.3% |
| Cost of revenue | 2.6B USD | 10.7% |
| Operating income | 8.7B USD | 36.6% |
| Operating expenses | 12.5B USD | 52.6% |
| Net income | 7.1B USD | 30.0% |
| Interest expense | 263.0M USD | 1.1% |
| Taxes & other (net) | 1.3B USD | 5.5% |
Taxes, interest and other items are not available separately in the SEC data; they are combined as the difference.
Margins
The operating margin rose in 5 years from 32.9% to 36.6%.
Gross marginOperating marginNet margin- Fiscal year 2016: Gross margin 86.0% · Operating margin 25.5% · Net margin 20.0%
- Fiscal year 2017: Gross margin 86.2% · Operating margin 29.7% · Net margin 23.2%
- Fiscal year 2018: Gross margin 86.8% · Operating margin 31.5% · Net margin 28.7%
- Fiscal year 2019: Gross margin 85.0% · Operating margin 29.3% · Net margin 26.4%
- Fiscal year 2020: Gross margin 86.6% · Operating margin 32.9% · Net margin 40.9%
- Fiscal year 2021: Gross margin 88.2% · Operating margin 36.8% · Net margin 30.5%
- Fiscal year 2022: Gross margin 87.7% · Operating margin 34.6% · Net margin 27.0%
- Fiscal year 2023: Gross margin 87.9% · Operating margin 34.3% · Net margin 28.0%
- Fiscal year 2024: Gross margin 89.0% · Operating margin 31.3% · Net margin 25.9%
- Fiscal year 2025: Gross margin 89.3% · Operating margin 36.6% · Net margin 30.0%
Returns
Return on equity rose in 5 years from 39.7% to 61.3%.
Return on equityReturn on assets- Fiscal year 2016: Return on equity 15.7% · Return on assets 9.2%
- Fiscal year 2017: Return on equity 20.0% · Return on assets 11.7%
- Fiscal year 2018: Return on equity 27.7% · Return on assets 13.8%
- Fiscal year 2019: Return on equity 28.0% · Return on assets 14.2%
- Fiscal year 2020: Return on equity 39.7% · Return on assets 21.7%
- Fiscal year 2021: Return on equity 32.6% · Return on assets 17.7%
- Fiscal year 2022: Return on equity 33.8% · Return on assets 17.5%
- Fiscal year 2023: Return on equity 32.9% · Return on assets 18.2%
- Fiscal year 2024: Return on equity 39.4% · Return on assets 18.4%
- Fiscal year 2025: Return on equity 61.3% · Return on assets 24.2%
Equity and long-term debt
The equity ratio fell in 5 years from 54.6% to 39.4%.
EquityLong-term debt in USD Long-term debt, depending on the filing, includes the current portion or leases.- Fiscal year 2016: Equity 7.4B USD · Long-term debt 1.9B USD
- Fiscal year 2017: Equity 8.5B USD · Long-term debt 1.9B USD
- Fiscal year 2018: Equity 9.4B USD · Long-term debt 4.1B USD
- Fiscal year 2019: Equity 10.5B USD · Long-term debt not available
- Fiscal year 2020: Equity 13.3B USD · Long-term debt 4.1B USD
- Fiscal year 2021: Equity 14.8B USD · Long-term debt 4.1B USD
- Fiscal year 2022: Equity 14.1B USD · Long-term debt 3.6B USD
- Fiscal year 2023: Equity 16.5B USD · Long-term debt 3.6B USD
- Fiscal year 2024: Equity 14.1B USD · Long-term debt 4.1B USD
- Fiscal year 2025: Equity 11.6B USD · Long-term debt 6.2B USD
Liquidity (current ratio)
The current ratio fell in 5 years from 1.48 to 1.00.
Current ratio- Fiscal year 2016: Current ratio 2.08
- Fiscal year 2017: Current ratio 2.05
- Fiscal year 2018: Current ratio 1.13
- Fiscal year 2019: Current ratio 0.79
- Fiscal year 2020: Current ratio 1.48
- Fiscal year 2021: Current ratio 1.25
- Fiscal year 2022: Current ratio 1.11
- Fiscal year 2023: Current ratio 1.34
- Fiscal year 2024: Current ratio 1.07
- Fiscal year 2025: Current ratio 1.00
Cash flow
Free cash flow rose in 5 years from 5.3B USD to 9.9B USD.
Operating cash flowCapital expenditureFree cash flow in USD- Fiscal year 2016: Operating cash flow 2.2B USD · Capital expenditure 203.8M USD · Free cash flow 2.0B USD
- Fiscal year 2017: Operating cash flow 2.9B USD · Capital expenditure 178.1M USD · Free cash flow 2.7B USD
- Fiscal year 2018: Operating cash flow 4.0B USD · Capital expenditure 266.6M USD · Free cash flow 3.8B USD
- Fiscal year 2019: Operating cash flow 4.4B USD · Capital expenditure 394.5M USD · Free cash flow 4.0B USD
- Fiscal year 2020: Operating cash flow 5.7B USD · Capital expenditure 419.0M USD · Free cash flow 5.3B USD
- Fiscal year 2021: Operating cash flow 7.2B USD · Capital expenditure 348.0M USD · Free cash flow 6.9B USD
- Fiscal year 2022: Operating cash flow 7.8B USD · Capital expenditure 442.0M USD · Free cash flow 7.4B USD
- Fiscal year 2023: Operating cash flow 7.3B USD · Capital expenditure 360.0M USD · Free cash flow 6.9B USD
- Fiscal year 2024: Operating cash flow 8.1B USD · Capital expenditure 183.0M USD · Free cash flow 7.9B USD
- Fiscal year 2025: Operating cash flow 10.0B USD · Capital expenditure 179.0M USD · Free cash flow 9.9B USD
Share count
The share count fell in 5 years by 12.0% (mostly through share repurchases).
Diluted share count- Fiscal year 2016: Diluted share count 504.3M
- Fiscal year 2017: Diluted share count 501.1M
- Fiscal year 2018: Diluted share count 497.8M
- Fiscal year 2019: Diluted share count 491.6M
- Fiscal year 2020: Diluted share count 485.5M
- Fiscal year 2021: Diluted share count 481.0M
- Fiscal year 2022: Diluted share count 470.9M
- Fiscal year 2023: Diluted share count 459.1M
- Fiscal year 2024: Diluted share count 449.7M
- Fiscal year 2025: Diluted share count 427.0M
From annual reports filed with the SEC (10-K, 20-F, 40-F) as first reported, share count adjusted for splits; obvious filing errors (e.g. wrong unit, outliers against both neighbouring years) are hidden. Describes the reported figures – not investment advice.
Dividends and share repurchases
How much the company returns to its shareholders – as dividends or by repurchasing its own shares – and whether free cash flow supports it.
- Dividend per share
- none pays no dividend
- To shareholders (5 years)
- 35.7B USD 100% through repurchases
- Share count over 5 years
- −12.0% fewer shares – each share is a larger stake
What goes back to shareholders
Over 5 years, 35.7B USD went back to shareholders, 100% of it through share repurchases. That is 92% of the free cash flow of those years.
Dividends paidShare repurchasesNew shares issued (including employee plans)Free cash flow in USD- Fiscal year 2016: Dividends paid not available · Share repurchases 1.1B USD · New shares issued (including employee plans) not available · Free cash flow 2.0B USD
- Fiscal year 2017: Dividends paid not available · Share repurchases 1.1B USD · New shares issued (including employee plans) not available · Free cash flow 2.7B USD
- Fiscal year 2018: Dividends paid not available · Share repurchases 2.1B USD · New shares issued (including employee plans) not available · Free cash flow 3.8B USD
- Fiscal year 2019: Dividends paid not available · Share repurchases 2.8B USD · New shares issued (including employee plans) not available · Free cash flow 4.0B USD
- Fiscal year 2020: Dividends paid not available · Share repurchases 3.1B USD · New shares issued (including employee plans) not available · Free cash flow 5.3B USD
- Fiscal year 2021: Dividends paid not available · Share repurchases 4.0B USD · New shares issued (including employee plans) not available · Free cash flow 6.9B USD
- Fiscal year 2022: Dividends paid not available · Share repurchases 6.6B USD · New shares issued (including employee plans) not available · Free cash flow 7.4B USD
- Fiscal year 2023: Dividends paid not available · Share repurchases 4.4B USD · New shares issued (including employee plans) not available · Free cash flow 6.9B USD
- Fiscal year 2024: Dividends paid not available · Share repurchases 9.5B USD · New shares issued (including employee plans) not available · Free cash flow 7.9B USD
- Fiscal year 2025: Dividends paid not available · Share repurchases 11.3B USD · New shares issued (including employee plans) not available · Free cash flow 9.9B USD
Dividends paid, repurchases and new shares issued from the cash flow statement of annual reports filed with the SEC (as first reported). Describes the reported figures – not investment advice.
Valuation over time
Price-based valuation (P/E, P/S, price/free cash flow and dividend yield per fiscal year, compared with its own average) for signed-in users. Log in
Sector comparison
Adobe Inc. next to 8 stocks of the sector Technology we cover that are closest in revenue. Click a column header to sort the table.
| Symbol | Revenue (FY) | Growth 5 yrs | Gross margin | Op. margin | Net margin | ROE | Equity ratio | FCF margin | Piotroski |
|---|---|---|---|---|---|---|---|---|---|
| AMD Advanced Micro Devices | 34.6B USD | +28.8% | 49.5% | 10.7% | 12.5% | 6.9% | 81.9% | 19.4% | 8/9 |
| HPE Hewlett Packard Enterprise | 34.3B USD | +4.9% | – | −1.3% | 0.2% | 0.2% | 32.5% | 1.8% | – |
| AMAT Applied Materials | 28.4B USD | +10.5% | 48.7% | 29.2% | 24.7% | 34.3% | 56.2% | 20.1% | 6/9 |
| ADBE Adobe Inc. this stock | 23.8B USD | +13.1% | 89.3% | 36.6% | 30.0% | 61.3% | 39.4% | 41.4% | 7/9 |
| LRCX Lam Research | 23.2B USD | +9.7% | 50.5% | 35.3% | 31.3% | 58.3% | 53.0% | 21.1% | 8/9 |
| APH Amphenol | 23.1B USD | +21.8% | 36.9% | 25.4% | 18.5% | 31.8% | 37.0% | 19.0% | 7/9 |
| INTU Intuit | 21.4B USD | +17.4% | – | 27.4% | 21.3% | 24.0% | 51.6% | 40.4% | – |
| SNDK Sandisk | 20.2B USD | – | 71.5% | 61.2% | 56.5% | 72.7% | 69.9% | 56.8% | 7/9 |
| TXN Texas Instruments | 17.7B USD | +4.1% | 57.0% | 34.1% | 28.3% | 30.7% | 47.1% | 14.7% | 6/9 |
| Median of the sector 63 symbols | 11.0B USD | +14.5% | 56.1% | 14.2% | 12.5% | 13.5% | 51.6% | 19.0% | 6/9 |
Growth 5 yrs = revenue growth per year over 5 fiscal years · Op. margin = operating margin · ROE = return on equity · FCF = free cash flow · Piotroski = F-Score (only with all 9 criteria).
Figures of the last fiscal year from SEC annual reports (peers as of Oct 28, 2026). Median across all companies of the sector we cover (from 5 stocks; several share classes of one company count once). Signed-in users also see P/E, P/S and dividend yield in the comparison. Describes the reported figures – not investment advice.
Key figures with traffic lights
Each light follows a simple, disclosed rule. The comparison is with the sector median Sector medianThe middle value of all companies in a sector: half are above it, half below. Unlike the average, single outliers hardly distort it.Example: Margins 4%, 8%, 10%, 12%, 60% → median 10%, average 18.8%.More in the Academy: Lesson putting the P/E in context of all 97 symbols in the Technology sector on our list (current members of the S&P 500 and other lists).
Revenue growth
Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth+13.1% per year, last 5 years
Sector Technology: median +13.5% (88 symbols)
What does this mean? Revenue: over 5 years it grew by 13.1% per year on average, but more slowly than the median company in the sector (+13.5%).
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
Net income (total)
Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth+6.3% per year, last 5 years
Sector Technology: median +13.3% (62 symbols)
per share: +9.0% per year (5 years, split-adjusted)
What does this mean? Total net income: over 5 years it grew by 6.3% per year on average, but more slowly than the median company in the sector (+13.3%).
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
Net margin
Profit marginThe share of revenue that is left as profit after all costs.Example: Profit €60m on €500m revenue → margin 12%.More in the Academy: Lesson revenue, profit and margin30.0% last fiscal year
Sector Technology: median 12.5% (97 symbols)
What does this mean? Of every 100 USD in revenue, 30.00 USD remained as profit – at least as much as the median company in the sector (12.5%). Five years ago the margin was 40.9%.
Light rule: Green: at least the sector median (without a sector comparison: profit) · Yellow: profit, but below the median · Red: loss.
Debt / equity
Debt-to-equity ratioFinancial debt (loans, bonds) divided by equity. A high value amplifies good and bad years alike. The key figures bar in the chart only uses long-term financial debt.Example: Financial debt €300m, equity €500m → 0.6.More in the Academy: Lesson debt, dividends and growth0.41 latest balance sheet
Sector Technology: median 0.45 (79 symbols)
What does this mean? For every 1 USD of equity there is 0.41 USD of financial debt – no more than the median company in the sector (0.45). More debt amplifies good and bad years alike.
Light rule: Green: at most the sector median · Yellow: up to twice the median · Red: more than twice · Gray: without a sector comparison.
Payout ratio
Payout ratioThe share of profit that a company pays out as a dividend. Above 100% it pays out more than it earns.Example: Dividend €1, earnings per share €2.50 → payout ratio 40%.More in the Academy: Lesson debt, dividends and growth– Dividend / earnings per share
Sector Technology: median 30% (36 symbols)
What does this mean? The loaded SEC filings of the last two fiscal years contain no dividend per share. Either the company pays none, or it reports it under a different tag.
Light rule: Green: up to 60% of earnings · Yellow: up to 100% · Red: more than earnings or a dividend despite a loss · Gray for real estate (REITs). The sector median is for comparison only.
Profitable years
Profitable yearsHow many of the last fiscal years ended with a profit rather than a loss on the bottom line. The figure shows how consistently a company earns.Example: Profit in 9 of 10 years → one loss year.More in the Academy: Lesson revenue, profit and margin10 of 10 fiscal years with a profit
What does this mean? In 10 of the last 10 fiscal years the bottom line showed a profit. There were no losses in this period.
Light rule: Green: profit in every year · Yellow: one loss year · Red: several loss years (at least 3 years needed).
All figures as a table
| Year | End | Revenue | Net income | Margin | Earnings per share | Dividend per share | Payout |
|---|---|---|---|---|---|---|---|
| 2025 | Nov 28, 2025 | 23.8B | 7.1B | 30.0% | 16.70 | – | – |
| 2024 | Nov 29, 2024 | 21.5B | 5.6B | 25.9% | 12.36 | – | – |
| 2023 | Dec 1, 2023 | 19.4B | 5.4B | 28.0% | 11.82 | – | – |
| 2022 | Dec 2, 2022 | 17.6B | 4.8B | 27.0% | 10.10 | – | – |
| 2021 | Dec 3, 2021 | 15.8B | 4.8B | 30.5% | 10.02 | – | – |
| 2020 | Nov 27, 2020 | 12.9B | 5.3B | 40.9% | 10.83 | – | – |
| 2019 | Nov 29, 2019 | 11.2B | 3.0B | 26.4% | 6.00 | – | – |
| 2018 | Nov 30, 2018 | 9.0B | 2.6B | 28.7% | 5.20 | – | – |
| 2017 | Dec 1, 2017 | 7.3B | 1.7B | 23.2% | 3.38 | – | – |
| 2016 | Dec 2, 2016 | 5.9B | 1.2B | 20.0% | 2.32 | – | – |
| Quarter | End | Revenue | Net income | Margin | Earnings per share | Dividend per share | Payout |
|---|---|---|---|---|---|---|---|
| Q3/26 | Aug 28, 2026 | 6.8B | 1.8B | 27.0% | 4.62 | – | – |
| Q2/26 | May 29, 2026 | 6.6B | 1.7B | 25.9% | 4.25 | – | – |
| Q1/26 | Feb 27, 2026 | 6.4B | 1.9B | 29.5% | 4.60 | – | – |
| Q4/25* | Nov 28, 2025 | 6.2B | 1.9B | 30.0% | – | – | – |
| Q3/25 | Aug 29, 2025 | 6.0B | 1.8B | 29.6% | 4.18 | – | – |
| Q2/25 | May 30, 2025 | 5.9B | 1.7B | 28.8% | 3.94 | – | – |
| Q1/25 | Feb 28, 2025 | 5.7B | 1.8B | 31.7% | 4.14 | – | – |
| Q4/24* | Nov 29, 2024 | 5.6B | 1.7B | 30.0% | – | – | – |
| Q3/24 | Aug 30, 2024 | 5.4B | 1.7B | 31.1% | 3.76 | – | – |
| Q2/24 | May 31, 2024 | 5.3B | 1.6B | 29.6% | 3.49 | – | – |
| Q1/24 | Mar 1, 2024 | 5.2B | 620.0M | 12.0% | 1.36 | – | – |
| Q4/23* | Dec 1, 2023 | 5.0B | 1.5B | 29.4% | – | – | – |
* Q4 derived: fiscal year minus the 9-month value (EPS cannot be derived this way); may be distorted by restatements.
How we calculate: values as first reported to the SEC (later corrections are left out), a fixed order of reporting tags per figure, partial sums are never added up. Growth per year Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth over 5 years (otherwise 3 years). Quarters are labeled by the calendar quarter in which they end.
Insiders
Insider transactionsExecutives, directors and major shareholders (over 10%) of US companies report their own transactions in their company’s stock to the SEC within two business days (Form 4). Purchases in the market count as more meaningful than sales (often taxes, estate planning).Example: Three executives acquire stock worth a total of 2 million USD within two weeks → “purchases by several insiders”.More in the Academy: Glossary| Period | Purchases | Sales | Net |
|---|---|---|---|
| 3 months | $00 people | $31.5M2 people | −$31.5M |
| 6 months | $1.9M1 person | $49.9M2 people | −$48.0M |
| 12 months | $1.9M1 person | $50.8M3 people | −$48.8M |
Latest transactions
- Sep 17, 2026 Narayen Shantanu Chief executive (CEO), Director Open-market sale 638 shares · $160.6K · SEC
- Sep 17, 2026 Narayen Shantanu Chief executive (CEO), Director Open-market sale 9,978 shares · $2.5M · SEC
- Sep 17, 2026 Narayen Shantanu Chief executive (CEO), Director Open-market sale 17,595 shares · $4.4M · SEC
- Sep 17, 2026 Narayen Shantanu Chief executive (CEO), Director Open-market sale 10,313 shares · $2.6M · SEC
- Sep 17, 2026 Narayen Shantanu Chief executive (CEO), Director Open-market sale 7,168 shares · $1.8M · SEC
- Sep 17, 2026 Narayen Shantanu Chief executive (CEO), Director Open-market sale 3,430 shares · $848.4K · SEC
Source: mandatory filings with the SEC (Form 4), open-market purchases and sales only. General information, not investment advice.
Trend score -15
Price vs. EMA 50+15
Price vs. EMA 200-15
EMA 50 vs. EMA 200-20
ADX (trend strength)+0
Highs and lows-10
Relative strength+15
Volatility and trend strength
ADX 14 (trend strength)19.3
Rel. strength 60 d+0.8%
ATR ATR (Average True Range)The average range per trading day over the last 14 days. It makes distances comparable, whether a stock costs 10 or 1,000.Example: ATR 2.50 at a price of 100: 0.4 ATR is 1.00, i.e. 1%.More in the Academy: Lesson ATR and moving averages as price values only when logged in.
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