Common-Size Balance Sheet: Assets
Quarterly Data
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Adobe Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 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), 10-K (reporting date: 2019-11-29), 10-Q (reporting date: 2019-08-30), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-03-01).
- Cash and Cash Equivalents
- The proportion of cash and cash equivalents relative to total assets has demonstrated an overall increasing trend from early 2019 through mid-2024, peaking notably at 25.53% in May 2024. There are fluctuations, with occasional declines, such as the drop to 10.54% in March 2022, but the general movement indicates growing liquidity over time.
- Short-term Investments
- This category shows a steady decline starting from 7.63% in March 2019 to a low of 0.9% in November 2024. A slight recovery occurs thereafter, reaching 2.78% by May 2025. The trend reflects a reduction in short-term investments as a percentage of total assets over the period.
- Trade Receivables, net
- The percentage of trade receivables relative to assets fluctuates moderately over the time periods, without a clear upward or downward trend. Values oscillate mainly between approximately 5.3% and 7.6%, indicating relative stability in receivables proportion throughout the periods.
- Prepaid Expenses and Other Current Assets
- This item shows minor fluctuations but generally an increasing trend over the observed quarters, especially noticeable from around 3.93% in March 2024 to a peak of 5.44% in May 2025. This suggests a growing share of prepaid and other current assets in the asset structure.
- Current Assets
- The share of current assets in total assets presents a variable but broadly upward trajectory, rising from 26.32% in early 2019 to peak above 37% in several quarters around 2023 and 2024, including the highest at 37.22% in December 2023. The data indicates an increasing emphasis or accumulation in current asset categories across the periods.
- Property and Equipment, net
- The proportion of net property and equipment remains relatively stable, ranging between approximately 5.6% and 7.4%. There is a slight upward inclination toward mid-2023, followed by small declines, indicating consistent but modest changes in the fixed asset base relative to total assets.
- Operating Lease Right-of-Use Assets, net
- Data from late 2019 shows a declining trend in the percentage of right-of-use assets from 2.38% down to around 0.89% by late 2024, followed by a slight increase to 0.92% in May 2025, reflecting a gradual decrease in such leased assets within the asset composition.
- Goodwill
- Goodwill as a percentage of total assets exhibits a steady downward trend from 54.9% in early 2019 to fluctuating around 42%–46% in recent quarters. The declining pattern implies a reduction in intangible assets attributed to acquisitions or impairment adjustments over the years.
- Other Intangibles, net
- Other intangible assets also decrease consistently, from 10.34% in 2019 to approximately 2.24% by May 2025. This contraction signifies a shrinking role or amortization of intangible assets other than goodwill in the total asset base.
- Deferred Income Taxes
- Starting from negligible values, deferred income taxes have increased notably since 2020, rising from around 1.07% to reach 7.06% in May 2025, indicating either the recognition of deferred tax assets or liabilities becoming a more significant component of the asset structure.
- Other Assets
- Other assets show a gradual increase from approximately 2.78% in early 2019 to a range above 5% in more recent periods, suggesting expanding miscellaneous or non-classified assets within total assets.
- Long-term Assets
- The long-term assets as a proportion of total assets generally decline from approximately 73.68% in early 2019 to a low near 62.78% by late 2023, followed by some recovery to 68.06% in mid-2025. This reflects shifts in the asset composition towards a relatively higher proportion of current assets in the middle of the period, with some rebalancing later.