Stock Analysis on Net

Adobe Inc. (NASDAQ:ADBE)

$24.99

Debt to Equity
since 2005

Microsoft Excel

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Calculation

Adobe Inc., debt to equity, long-term trends, calculation

Microsoft Excel

Based on: 10-K (reporting date: 2024-11-29), 10-K (reporting date: 2023-12-01), 10-K (reporting date: 2022-12-02), 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), 10-K (reporting date: 2015-11-27), 10-K (reporting date: 2014-11-28), 10-K (reporting date: 2013-11-29), 10-K (reporting date: 2012-11-30), 10-K (reporting date: 2011-12-02), 10-K (reporting date: 2010-12-03), 10-K (reporting date: 2009-11-27), 10-K (reporting date: 2008-11-28), 10-K (reporting date: 2007-11-30), 10-K (reporting date: 2006-12-01), 10-K (reporting date: 2005-12-02).

1 US$ in millions


The analysis of the financial data reveals several notable trends and patterns in the company’s capital structure over the observed fiscal years.

Total Debt
Total debt figures first appear in the year ending in 2009 at US$350 million, marking the beginning of a debt position for the company. Subsequently, the total debt shows a general increasing trend with some fluctuations. It rises sharply from 2014 onwards, peaking at US$4,138 million in 2021. Afterward, the debt slightly declines to US$3,634 million in 2023 but then jumps significantly to US$5,628 million in 2024. This indicates aggressive debt management or capital raising efforts particularly in recent years.
Stockholders’ Equity
Stockholders’ equity starts at US$1,864 million in 2005 and experiences considerable growth over the period under review. There is an especially strong and steady increase from 2010 onwards, growing from approximately US$5,192 million to a peak of more than US$16,518 million in 2023. However, equity declines somewhat to US$14,105 million in 2024. Overall, the company has expanded its equity base substantially, reflecting retained earnings growth, increased capital injections, or revaluation gains over time.
Debt to Equity Ratio
The debt-to-equity ratio is initially very low at 0.08 in 2009, indicating a very conservative leverage position. It rises moderately and fluctuates around the range of 0.20 to 0.30 for most years, with notable increases in 2015 (0.44) suggesting a temporary rise in leverage. The ratio generally trends downwards after 2015, hitting a low of 0.22 in 2023, signifying a relative reduction in debt compared to equity. However, the ratio escalates again to 0.40 in the most recent year, consistent with the sharp increase in total debt relative to the decreased equity observed in 2024. This points to a more leveraged capital structure in the latest period.

In summary, the company has consistently increased its stockholders’ equity, showing strong capital growth. Debt levels have risen significantly in recent years, leading to a higher leverage ratio lately. The fluctuations in leverage suggest strategic shifts in capital structure management, balancing between using debt financing and equity growth to support operations and expansion.


Comparison to Competitors

Adobe Inc., debt to equity, long-term trends, comparison to competitors

Microsoft Excel

Based on: 10-K (reporting date: 2024-11-29), 10-K (reporting date: 2023-12-01), 10-K (reporting date: 2022-12-02), 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), 10-K (reporting date: 2015-11-27), 10-K (reporting date: 2014-11-28), 10-K (reporting date: 2013-11-29), 10-K (reporting date: 2012-11-30), 10-K (reporting date: 2011-12-02), 10-K (reporting date: 2010-12-03), 10-K (reporting date: 2009-11-27), 10-K (reporting date: 2008-11-28), 10-K (reporting date: 2007-11-30), 10-K (reporting date: 2006-12-01), 10-K (reporting date: 2005-12-02).


Comparison to Sector (Software & Services)


Comparison to Industry (Information Technology)