Stock Analysis on Net

Adobe Inc. (NASDAQ:ADBE)

$24.99

Common-Size Balance Sheet: Assets
Quarterly Data

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Adobe Inc., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
May 30, 2025 Feb 28, 2025 Nov 29, 2024 Aug 30, 2024 May 31, 2024 Mar 1, 2024 Dec 1, 2023 Sep 1, 2023 Jun 2, 2023 Mar 3, 2023 Dec 2, 2022 Sep 2, 2022 Jun 3, 2022 Mar 4, 2022 Dec 3, 2021 Sep 3, 2021 Jun 4, 2021 Mar 5, 2021 Nov 27, 2020 Aug 28, 2020 May 29, 2020 Feb 28, 2020 Nov 29, 2019 Aug 30, 2019 May 31, 2019 Mar 1, 2019
Cash and cash equivalents
Short-term investments
Trade receivables, net of allowances for doubtful accounts
Prepaid expenses and other current assets
Current assets
Property and equipment, net
Operating lease right-of-use assets, net
Goodwill
Other intangibles, net
Deferred income taxes
Other assets
Long-term assets
Total assets

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.