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ADBE

ADOBE INC.eval run
10-K for period ending 2025-11-28gpt-6-luna@none · prompt v4$0.00062.7s11/11 correct vs SECfiling on sec.gov ↗

figures

fieldvaluestatement rowprintedSEC
Total revenue$23.8BR6 Total revenue23,769 millions$23.8B ✓
Operating income$8.7BR20 Operating income8,706 millions$8.7B ✓
Net income attributable to the company$7.1BR28 Net income7,130 millions$7.1B ✓
Diluted EPS$16.70R31 Diluted net income per share16.70$16.70 ✓
Cash and cash equivalents$5.4BR3 Cash and cash equivalents5,431 millions$5.4B ✓
Total assets$29.5BR14 Total assets29,496 millions$29.5B ✓
Total liabilities$17.9BR30 Total liabilities17,873 millions$17.9B ✓
Total shareholders' equity attributable to the company$11.6BR39 Total stockholders’ equity11,623 millions$11.6B ✓
Net cash from operating activities$10.0BR17 Net cash provided by operating activities10,031 millions$10.0B ✓
Net cash from investing activities-$1.2BR26 Net cash provided by (used for) investing activities(1,187) millions-$1.2B ✓
Net cash from financing activities-$11.1BR34 Net cash used for financing activities(11,060) millions-$11.1B ✓

checks

  • assets = liabilities + equity · total assets equals total liabilities and equity
  • equity excludes minority interests · not applicable: no noncontrolling interest line printed
  • net income is before preferred dividends · net income is not the after-preferred-dividends line
  • diluted EPS is for total net income · diluted EPS is for total net income
  • net income excludes minority interests · not applicable: no noncontrolling interest line printed
  • cash flows tie to the change in cash · operating + investing + financing (+ FX) equals the net change in cash

trace

  1. 0locator (code)0.11s
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    {
  "income": {
    "rows": 33,
    "scale": 1000000,
    "score": 51.75,
    "heading": "ncial Statements. 47 Table of Contents ADOBE INC. CONSOLIDATED STATEMENTS OF INCOME (In millions, except per share data)",
    "tableIndex": 26,
    "runnerUpScore": 30
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  "balance": {
    "rows": 41,
    "scale": 1000000,
    "score": 52.75,
    "heading": "tatements and Notes thereto. 46 Table of Contents ADOBE INC. CONSOLIDATED BALANCE SHEETS (In millions, except par value)",
    "tableIndex": 25,
    "runnerUpScore": 24
  },
  "cashflow": {
    "rows": 58,
    "scale": 1000000,
    "score": 55,
    "heading": "o Consolidated Financial Statements. 50 Table of Contents ADOBE INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions)",
    "tableIndex": 29,
    "runnerUpScore": 9.25
  }
}
  2. 1cash flow agent1.73s · 1822 tokens · $0.0002
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      "printed": "10,031",
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  3. 2balance sheet agent2.02s · 1416 tokens · $0.0002
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      "printed": "11,623",
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  4. 3income statement agent2.20s · 1578 tokens · $0.0002
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      "value": 7130000000,
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  5. 4reconciler (code)0.00s
    null
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  },
  {
    "name": "totalEquity_attribution",
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    "fields": [
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    "passed": true,
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  },
  {
    "name": "netIncome_before_preferred",
    "detail": "net income is not the after-preferred-dividends line",
    "fields": [
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  },
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  {
    "name": "netIncome_attribution",
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    "fields": [
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    "skipped": true,
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  },
  {
    "name": "cash_flow_tie",
    "detail": "operating + investing + financing (+ FX) equals the net change in cash",
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]

Income statement

table #26 · current period is figure column 1
0Years Ended
1November 28,2025November 29,2024December 1,2023
2Revenue:
3Subscription22,90420,52118,284
4Product325386460
5Services and other540598665
6Total revenue← Total revenue23,76921,50519,409
7Cost of revenue:
8Subscription2,0271,7991,822
9Product232529
10Services and other501534503
11Total cost of revenue2,5512,3582,354
12Gross profit21,21819,14717,055
13Operating expenses:
14Research and development4,2943,9443,473
15Sales and marketing6,4885,7645,351
16General and administrative1,5731,5291,413
17Acquisition termination fee-1,000-
18Amortization of intangibles157169168
19Total operating expenses12,51212,40610,405
20Operating income← Operating income8,7066,7416,650
21Non-operating income (expense):
22Interest expense(263)(169)(113)
23Investment gains (losses), net434816
24Other income (expense), net248311246
25Total non-operating income (expense), net28190149
26Income before income taxes8,7346,9316,799
27Provision for income taxes1,6041,3711,371
28Net income← Net income attributable to the company7,1305,5605,428
29Basic net income per share16.7312.4311.87
30Shares used to compute basic net income per share426447457
31Diluted net income per share← Diluted EPS16.7012.3611.82
32Shares used to compute diluted net income per share427450459

Balance sheet

table #25 · current period is figure column 1
0November 28,2025November 29,2024
1ASSETS
2Current assets:
3Cash and cash equivalents← Cash and cash equivalents5,4317,613
4Short-term investments1,164273
5Trade receivables, net of allowances for doubtful accounts of $13 and of $14, respectively2,3442,072
6Prepaid expenses and other current assets1,2241,274
7Total current assets10,16311,232
8Property and equipment, net1,8731,936
9Operating lease right-of-use assets, net312281
10Goodwill12,85712,788
11Other intangibles, net495782
12Deferred income taxes2,1861,657
13Other assets1,6101,554
14Total assets← Total assets29,49630,230
15LIABILITIES AND STOCKHOLDERS’ EQUITY
16Current liabilities:
17Trade payables417361
18Accrued expenses and other current liabilities2,6482,336
19Debt-1,499
20Deferred revenue6,9056,131
21Income taxes payable153119
22Operating lease liabilities7775
23Total current liabilities10,20010,521
24Long-term liabilities:
25Debt6,2104,129
26Deferred revenue125128
27Income taxes payable469548
28Operating lease liabilities361353
29Other liabilities508446
30Total liabilities← Total liabilities17,87316,125
31Commitments and contingencies
32Stockholders’ equity:
33Preferred stock, $0.0001 par value; 2 shares authorized; none issued--
34Common stock, $0.0001 par value; 900 shares authorized; 601 shares issued; 413 and 441 shares outstanding, respectively--
35Additional paid-in capital15,36113,419
36Retained earnings45,35438,470
37Accumulated other comprehensive income (loss)(245)(201)
38Treasury stock, at cost (188 and 160 shares, respectively)(48,847)(37,583)
39Total stockholders’ equity← Total shareholders' equity attributable to the company11,62314,105
40Total liabilities and stockholders’ equity29,49630,230

Cash flow statement

table #29 · current period is figure column 1
0Years Ended
1November 28,2025November 29,2024December 1,2023
2Cash flows from operating activities:
3Net income7,1305,5605,428
4Adjustments to reconcile net income to net cash provided by operating activities:
5Depreciation, amortization and accretion818857872
6Stock-based compensation1,9421,8331,718
7Lease-related asset impairments-78-
8Deferred income taxes(512)(468)(426)
9Other non-cash items485265
10Changes in operating assets and liabilities, net of acquired assets and assumed liabilities:
11Trade receivables, net(275)143(159)
12Prepaid expenses and other assets(90)(616)(818)
13Trade payables6444(49)
14Accrued expenses and other liabilities180196146
15Income taxes payable(45)68(11)
16Deferred revenue771309536
17Net cash provided by operating activities← Net cash from operating activities10,0318,0567,302
18Cash flows from investing activities:
19Purchases of short-term investments(2,034)(59)-
20Maturities of short-term investments1,168486965
21Proceeds from sales of short-term investments611223
22Acquisitions, net of cash acquired(17)--
23Purchases of property and equipment(179)(183)(360)
24Purchases of long-term investments, intangibles and other assets(134)(108)(53)
25Other investing activities, net321
26Net cash provided by (used for) investing activities← Net cash from investing activities(1,187)149776
27Cash flows from financing activities:
28Repurchases of common stock(11,281)(9,500)(4,400)
29Proceeds from re-issuance of treasury stock348361314
30Taxes paid related to net share settlement of equity awards(475)(677)(589)
31Proceeds from issuance of debt1,9971,997-
32Repayment of debt(1,500)-(500)
33Other financing activities, net(149)95(7)
34Net cash used for financing activities← Net cash from financing activities(11,060)(7,724)(5,182)
35Effect of foreign currency exchange rates on cash and cash equivalents34(9)9
36Net change in cash and cash equivalents(2,182)4722,905
37Cash and cash equivalents at beginning of year7,6137,1414,236
38Cash and cash equivalents at end of year5,4317,6137,141
39Supplemental disclosures:
40Cash paid for income taxes, net of refunds2,2191,7271,854
41Cash paid for interest246143106
42(dollars in millions)Digital MediaDigital ExperiencePublishing and AdvertisingTotal
43Fiscal 2025
44Revenue17,6495,86425623,769
45Cost of revenue8411,625852,551
46Gross profit16,8084,23917121,218
47Gross profit as a percentage of revenue95 %%72 %%67 %%89 %%
48Fiscal 2024
49Revenue15,8645,36627521,505
50Cost of revenue6801,589892,358
51Gross profit15,1843,77718619,147
52Gross profit as a percentage of revenue96 %%70 %%68 %%89 %%
53Fiscal 2023
54Revenue14,2164,89330019,409
55Cost of revenue6651,603862,354
56Gross profit13,5513,29021417,055
57Gross profit as a percentage of revenue95 %%67 %%71 %%88 %%