Adobe Inc (ADBE) financials
Adobe revenue and earnings by year
Adobe's revenue was $23.8 billion in the fiscal year to November 28, 2025, up 10.5% from the year before. Net income was $7.13 billion, 30.0% of revenue. Since the fiscal year to December 2, 2016, revenue has grown 16.9% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 10 fiscal years
| Fiscal year to | Nov 2025 | Nov 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Nov 2020 | Nov 2019 | Nov 2018 | Dec 2017 | Dec 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 23.8 | 21.5 | 19.4 | 17.6 | 15.8 | 12.9 | 11.2 | 9.0 | 7.3 | 5.9 |
| Revenue growth | 10.5% | 10.8% | 10.2% | 11.5% | 22.7% | 15.2% | 23.7% | 23.7% | 24.7% | — |
| Gross profit | 21.2 | 19.1 | 17.1 | 15.4 | 13.9 | 11.1 | 9.5 | 7.8 | 6.3 | 5.0 |
| Gross margin | 89.3% | 89.0% | 87.9% | 87.7% | 88.2% | 86.6% | 85.0% | 86.8% | 86.2% | 86.0% |
| Operating income | 8.7 | 6.7 | 6.7 | 6.1 | 5.8 | 4.2 | 3.3 | 2.8 | 2.2 | 1.5 |
| Operating margin | 36.6% | 31.3% | 34.3% | 34.6% | 36.8% | 32.9% | 29.3% | 31.5% | 29.7% | 25.5% |
| Net income | 7.1 | 5.6 | 5.4 | 4.8 | 4.8 | 5.3 | 3.0 | 2.6 | 1.7 | 1.2 |
| Net margin | 30.0% | 25.9% | 28.0% | 27.0% | 30.5% | 40.9% | 26.4% | 28.7% | 23.2% | 20.0% |
| Diluted EPS | $16.70 | $12.36 | $11.82 | $10.10 | $10.02 | $10.84 | $6.00 | $5.21 | $3.39 | $2.32 |
| Free cash flow | 9.9 | 7.9 | 6.9 | 7.4 | 6.9 | 5.3 | 4.0 | 3.8 | 2.7 | 2.0 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open ADBE in Markets.
How Adobe makes money
Revenue by segment in the quarter to August 28, 2026, as the company reports it.
| Segment | Revenue | Share |
|---|---|---|
| Subscription Revenue | $6.58B | 97.4% |
| Services & Other | $111M | 1.6% |
| Product | $67.0M | 1.0% |
See also: ADBE valuation and P/E history · ADBE returns
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Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.