Stock Analysis on Net

Adobe Inc. (NASDAQ:ADBE)

Common-Size Income Statement 

Adobe Inc., common-size consolidated income statement

Microsoft Excel
12 months ended: Dec 3, 2021 Nov 27, 2020 Nov 29, 2019 Nov 30, 2018 Dec 1, 2017 Dec 2, 2016
Subscription 92.32 90.35 89.47 87.73 84.01 78.31
Product 3.52 3.94 5.80 6.89 9.68 13.67
Services and other 4.16 5.71 4.74 5.38 6.31 8.01
Revenue 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Subscription -8.70 -8.61 -10.94 -8.94 -8.53 -7.89
Product -0.26 -0.28 -0.35 -0.51 -0.78 -1.18
Services and other -2.85 -4.49 -3.68 -3.78 -4.52 -4.94
Cost of revenue -11.82% -13.38% -14.97% -13.23% -13.84% -14.00%
Gross profit 88.18% 86.62% 85.03% 86.77% 86.16% 86.00%
Research and development -16.09 -17.00 -17.28 -17.03 -16.76 -16.67
Sales and marketing -27.37 -27.91 -29.04 -29.02 -30.10 -32.63
General and administrative -6.87 -7.52 -7.88 -8.25 -8.56 -9.84
Amortization of intangibles -1.09 -1.26 -1.57 -1.01 -1.05 -1.34
Operating expenses -51.43% -53.69% -55.77% -55.31% -56.47% -60.48%
Operating income 36.76% 32.93% 29.25% 31.45% 29.69% 25.51%
Interest expense -0.72 -0.90 -1.41 -0.99 -1.02 -1.20
Realized investment gains 0.06 0.04 0.41 0.07 0.04 0.08
Realized investment losses 0.00 -0.01 0.00 0.00 0.00 -0.11
Unrealized investment gains (losses), net 0.04 0.07 0.05 -0.03 0.06 0.00
Investment gains (losses), net 0.10% 0.10% 0.46% 0.04% 0.10% -0.03%
Interest income 0.11 0.33 0.61 1.02 0.90 0.81
Foreign exchange gains (losses) -0.11 -0.02 -0.23 -0.47 -0.42 -0.61
Realized gains on fixed income investments 0.00 0.01 0.00 0.01 0.02 0.05
Realized losses on fixed income investments 0.00 0.00 0.00 -0.13 -0.01 -0.02
Other 0.00 0.00 0.00 0.00 0.00 0.00
Other income (expense), net 0.00% 0.33% 0.38% 0.44% 0.50% 0.23%
Non-operating income (expense), net -0.61% -0.47% -0.57% -0.51% -0.42% -1.00%
Income before income taxes 36.14% 32.45% 28.69% 30.94% 29.28% 24.51%
(Provision for) benefit from income taxes -5.59 8.42 -2.27 -2.25 -6.08 -4.55
Net income 30.55% 40.88% 26.42% 28.69% 23.20% 19.96%

Based on: 10-K (reporting date: 2021-12-03), 10-K (reporting date: 2020-11-27), 10-K (reporting date: 2019-11-29), 10-K (reporting date: 2018-11-30), 10-K (reporting date: 2017-12-01), 10-K (reporting date: 2016-12-02).

Income statement item Description The company
Operating income The net result for the period of deducting operating expenses from operating revenues. Adobe Inc. operating income as a percentage of revenue increased from 2019 to 2020 and from 2020 to 2021.
Income before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Adobe Inc. income before income taxes as a percentage of revenue increased from 2019 to 2020 and from 2020 to 2021.
Net income The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Adobe Inc. net income as a percentage of revenue increased from 2019 to 2020 but then slightly decreased from 2020 to 2021 not reaching 2019 level.