Stock Analysis on Net
Stock Analysis on Net

Adobe Inc. (NASDAQ:ADBE)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

Adobe Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Aug 28, 2026 May 29, 2026 Feb 27, 2026 Nov 28, 2025 Aug 29, 2025 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
Trade payables 1.76 1.67 1.41 1.41 1.17 1.28 1.09 1.19 1.07 1.19 1.04 1.05 1.08 1.24 1.15 1.40 1.18 1.39 1.14 1.15 1.27 1.22 1.02 1.26 1.02 1.34 1.25
Accrued expenses and other current liabilities 8.39 8.20 7.60 8.98 7.96 8.03 6.51 7.73 6.20 6.33 5.46 6.52 5.89 6.42 5.51 6.59 6.09 6.13 5.13 6.37 5.55 6.01 4.97 5.86 5.88 6.03 5.85
Debt, current portion 5.33 6.16 2.86 0.00 0.00 0.00 0.00 4.96 5.03 4.99 5.21 0.00 0.00 0.00 0.00 1.84 1.87 1.90 1.92 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Deferred revenue 23.66 23.89 24.49 23.41 22.21 22.13 21.19 20.28 19.37 18.52 20.78 19.60 18.48 18.91 20.09 19.50 18.06 18.05 18.84 17.37 16.23 16.20 16.55 14.94 14.80 15.37 16.45
Income taxes payable 0.21 0.13 1.70 0.52 0.54 0.46 1.55 0.39 0.44 0.32 0.43 0.29 2.95 1.97 0.83 0.28 0.28 0.24 0.32 0.20 0.27 0.21 0.32 0.26 0.79 0.77 0.70
Current operating lease liabilities 0.30 0.30 0.28 0.26 0.26 0.26 0.25 0.25 0.23 0.22 0.25 0.25 0.25 0.27 0.30 0.32 0.33 0.34 0.36 0.36 0.37 0.38 0.38 0.38 0.40 0.39 0.40
Current liabilities 39.65% 40.35% 38.35% 34.58% 32.13% 32.16% 30.59% 34.80% 32.33% 31.57% 33.17% 27.71% 28.65% 28.81% 27.89% 29.92% 27.81% 28.05% 27.71% 25.45% 23.68% 24.02% 23.24% 22.70% 22.89% 23.90% 24.64%
Debt, excluding current portion 15.90 16.04 18.11 21.05 21.56 21.94 20.55 13.66 13.84 13.75 7.44 12.20 12.49 13.04 13.61 13.36 13.56 13.78 13.96 15.14 15.77 16.11 16.49 16.95 18.36 19.04 19.39
Deferred revenue 0.37 0.33 0.32 0.42 0.52 0.41 0.48 0.42 0.43 0.43 0.47 0.38 0.37 0.42 0.45 0.43 0.43 0.47 0.48 0.53 0.54 0.54 0.60 0.54 0.58 0.65 0.59
Income taxes payable 1.89 1.79 1.64 1.59 1.75 1.70 1.89 1.81 1.96 1.97 2.32 1.73 1.71 1.72 2.01 1.95 1.91 1.91 2.08 1.96 2.04 1.99 2.16 2.18 2.26 2.33 2.50
Long-term operating lease liabilities 1.03 1.10 1.16 1.22 1.26 1.15 1.12 1.17 1.28 1.33 1.31 1.25 1.34 1.47 1.56 1.54 1.59 1.68 1.72 1.66 1.78 1.86 1.98 2.05 2.32 2.31 2.42
Other liabilities 1.92 1.91 1.94 1.72 1.85 1.92 1.66 1.48 1.41 1.49 1.51 1.26 1.21 1.25 1.21 1.08 0.96 0.99 1.02 0.94 1.06 1.33 1.32 0.96 1.33 1.40 1.13
Long-term liabilities 21.11% 21.17% 23.17% 26.01% 26.94% 27.11% 25.70% 18.54% 18.91% 18.96% 13.06% 16.82% 17.12% 17.89% 18.84% 18.35% 18.45% 18.83% 19.26% 20.23% 21.19% 21.83% 22.55% 22.68% 24.86% 25.73% 26.03%
Total liabilities 60.76% 61.52% 61.51% 60.59% 59.07% 59.27% 56.28% 53.34% 51.24% 50.53% 46.23% 44.53% 45.77% 46.70% 46.73% 48.28% 46.26% 46.88% 46.97% 45.68% 44.87% 45.85% 45.78% 45.38% 47.74% 49.63% 50.67%
Preferred stock, $0.0001 par value; none issued 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Common stock, $0.0001 par value 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Additional paid-in-capital 56.68 54.84 53.43 52.08 52.06 51.14 46.38 44.39 43.67 41.67 41.87 38.91 38.48 38.50 38.56 36.33 35.70 34.57 33.68 30.94 31.40 30.79 30.49 30.30 32.10 31.90 31.42
Retained earnings 168.75 162.92 158.80 153.76 151.34 148.52 134.15 127.26 123.74 117.40 117.59 111.98 110.04 109.95 110.38 104.25 101.55 98.85 96.09 87.75 87.02 84.19 82.13 80.76 77.55 76.04 72.55
Accumulated other comprehensive loss -0.68 -0.83 -0.99 -0.83 -1.19 -1.18 -0.53 -0.66 -1.04 -0.92 -0.96 -0.96 -0.98 -1.07 -1.15 -1.08 -0.84 -0.74 -0.68 -0.50 -0.50 -0.47 -0.56 -0.65 -0.68 -0.90 -0.89
Treasury stock, at cost -185.51 -178.46 -172.74 -165.61 -161.27 -157.75 -136.29 -124.32 -117.61 -108.68 -104.72 -94.46 -93.32 -94.08 -94.52 -87.77 -82.67 -79.56 -76.07 -63.87 -62.78 -60.36 -57.84 -55.78 -56.71 -56.68 -53.74
Stockholders’ equity 39.24% 38.48% 38.49% 39.41% 40.93% 40.73% 43.72% 46.66% 48.76% 49.47% 53.77% 55.47% 54.23% 53.30% 53.27% 51.72% 53.74% 53.12% 53.03% 54.32% 55.13% 54.15% 54.22% 54.62% 52.26% 50.37% 49.33%
Total liabilities and stockholders’ equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2026-08-28), 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).

A comprehensive shift in the balance sheet structure is observed between February 2020 and August 2026, characterized by an increasing reliance on liabilities to fund assets. Total liabilities as a percentage of total liabilities and stockholders' equity rose from 50.67% to 60.76%, while stockholders' equity concurrently declined from 49.33% to 39.24%.

Current Liabilities and Operational Obligations
Current liabilities exhibit a strong upward trend, increasing from 24.64% to 39.65%. This growth is primarily driven by deferred revenue, which climbed from 16.45% to 23.66%, signaling an increase in prepaid customer contracts. Accrued expenses and other current liabilities also saw a moderate rise, ending at 8.39% compared to 5.85% at the start of the period. The current portion of debt appeared sporadically, notably peaking in 2024 and 2026, suggesting periodic restructuring of short-term debt obligations.
Long-term Liabilities and Debt Profile
Long-term liabilities showed significant volatility, initially decreasing from 26.03% to a low of 13.06% in March 2024 before rebounding to 21.11% by August 2026. Debt excluding the current portion followed a similar non-linear path, dropping from 19.39% to 15.90%, with a notable spike exceeding 20% during 2025. Long-term operating lease liabilities experienced a steady decline, falling from 2.42% to 1.03%, indicating a reduction in the relative weight of long-term lease commitments.
Stockholders' Equity and Capital Management
The equity section reveals a divergent trend between profitability and capital return. Retained earnings grew substantially from 72.55% to 168.75%, reflecting consistent earnings accumulation. However, this growth was offset by an aggressive increase in treasury stock, which moved from -53.74% to -185.51%. This indicates that the company utilized a significant portion of its capital for share repurchases, which ultimately reduced the total equity percentage. Additional paid-in-capital also increased steadily from 31.42% to 56.68%.

In summary, the financial structure has transitioned toward a higher liability-to-equity ratio. This shift is not indicative of financial distress, but rather a combination of growing deferred revenue from a subscription-based model and an aggressive share buyback strategy that has reduced the equity base despite surging retained earnings.

AI Ask an analyst for more

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.

How can I help you?