Common-Size Balance Sheet: Assets
Quarterly Data
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- Statement of Comprehensive Income
- Balance Sheet: Assets
- Cash Flow Statement
- Common-Size Income Statement
- Analysis of Liquidity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Selected Financial Data since 2005
- Total Asset Turnover since 2005
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Adobe Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2026-05-29), 10-Q (reporting date: 2026-02-27), 10-K (reporting date: 2025-11-28), 10-Q (reporting date: 2025-08-29), 10-Q (reporting date: 2025-05-30), 10-Q (reporting date: 2025-02-28), 10-K (reporting date: 2024-11-29), 10-Q (reporting date: 2024-08-30), 10-Q (reporting date: 2024-05-31), 10-Q (reporting date: 2024-03-01), 10-K (reporting date: 2023-12-01), 10-Q (reporting date: 2023-09-01), 10-Q (reporting date: 2023-06-02), 10-Q (reporting date: 2023-03-03), 10-K (reporting date: 2022-12-02), 10-Q (reporting date: 2022-09-02), 10-Q (reporting date: 2022-06-03), 10-Q (reporting date: 2022-03-04), 10-K (reporting date: 2021-12-03), 10-Q (reporting date: 2021-09-03), 10-Q (reporting date: 2021-06-04), 10-Q (reporting date: 2021-03-05), 10-K (reporting date: 2020-11-27), 10-Q (reporting date: 2020-08-28), 10-Q (reporting date: 2020-05-29), 10-Q (reporting date: 2020-02-28).
The asset composition reveals a strategic shift toward increased liquidity and a gradual reduction in the relative weight of intangible assets over the analyzed period. While total assets are consistently distributed between current and long-term categories, the internal dynamics of these segments indicate evolving financial priorities and asset amortization patterns.
- Liquidity and Current Asset Dynamics
- Current assets have remained relatively stable, generally fluctuating between 28% and 37% of total assets. A significant trend is observed in the composition of these assets, specifically the shift from short-term investments to cash and cash equivalents. Cash levels rose from 12.67% in early 2020 to a peak of 25.53% in May 2024, while short-term investments declined from approximately 7% to a low of 0.90% by November 2024. Trade receivables have remained consistent, typically oscillating between 5% and 8%, suggesting stable credit management and revenue collection cycles.
- Intangible Assets and Goodwill
- Goodwill represents the largest single component of the balance sheet, consistently accounting for 42% to 50% of total assets. Although it remains the dominant asset, there is a slight downward trend in its relative proportion over time. More pronounced is the steady erosion of other intangible assets, which declined from 7.66% in February 2020 to a low of 1.53% in February 2026. This consistent reduction suggests the systematic amortization of acquired intangible assets.
- Long-term Asset Composition
- Long-term assets have generally trended downward from approximately 69% to 63% before returning to 69.71% by May 2026. Property and equipment, net, have shown remarkable stability, maintaining a range between 6.2% and 7.4%. Conversely, operating lease right-of-use assets have seen a gradual decline, falling from 2.38% to 1.00%. An upward trend is noted in deferred income taxes, which grew from roughly 1% in 2020 to peak at 7.41% in November 2025, reflecting changes in tax positioning or accounting valuations.
- Overall Asset Structural Shifts
- The overall trajectory indicates a transition from a balance sheet heavily weighted toward acquired intangibles toward one with a higher concentration of liquid cash. The simultaneous decrease in the proportion of other intangibles and the increase in cash suggests a shift in the balance sheet's risk profile, reducing reliance on non-physical, amortizing assets in favor of immediate liquidity.