Analysis of Revenues
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- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Geographic Areas
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Return on Assets (ROA) since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Price to Book Value (P/BV) since 2005
- Price to Sales (P/S) since 2005
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Revenues as Reported
Adobe Inc., income statement, revenues
US$ in millions
| 12 months ended: | Nov 28, 2025 | Nov 29, 2024 | Dec 1, 2023 | Dec 2, 2022 | Dec 3, 2021 | Nov 27, 2020 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Digital Media | |||||||||||||
| Digital Experience | |||||||||||||
| Publishing and Advertising | |||||||||||||
| Revenue |
Based on: 10-K (reporting date: 2025-11-28), 10-K (reporting date: 2024-11-29), 10-K (reporting date: 2023-12-01), 10-K (reporting date: 2022-12-02), 10-K (reporting date: 2021-12-03), 10-K (reporting date: 2020-11-27).
Overall revenue demonstrates a consistent upward trajectory between November 2020 and November 2025. This growth is primarily driven by the Digital Media and Digital Experience segments, while the Publishing and Advertising segment exhibits a declining trend. A detailed examination of each segment follows.
- Digital Media
- The Digital Media segment shows substantial and consistent growth throughout the period. Revenue increased from US$9,233 million in November 2020 to US$17,649 million in November 2025, representing a significant compound annual growth rate. The segment consistently contributes the largest portion of overall revenue.
- Digital Experience
- The Digital Experience segment also exhibits positive growth, though at a more moderate pace than Digital Media. Revenue rose from US$3,125 million in November 2020 to US$5,864 million in November 2025. While growth is present each year, the rate of increase appears to be slowing slightly in later periods.
- Publishing and Advertising
- In contrast to the other segments, Publishing and Advertising experiences a consistent decline in revenue. Starting at US$510 million in November 2020, revenue decreased to US$256 million in November 2025. This represents a steady erosion of revenue from this segment over the five-year period.
- Total Revenue
- Total revenue increased from US$12,868 million in November 2020 to US$23,769 million in November 2025. The growth rate in total revenue appears to be relatively stable, with slight variations year-over-year. The increasing contributions from Digital Media and Digital Experience segments offset the decline in Publishing and Advertising, resulting in overall positive revenue growth.
The company’s revenue performance is heavily reliant on the continued success of its Digital Media and Digital Experience offerings. The declining trend in Publishing and Advertising warrants further investigation to understand the underlying causes and potential mitigation strategies.