Analysis of Solvency Ratios
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Adobe Inc., solvency ratios
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).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Adobe Inc. debt to equity ratio improved from 2019 to 2020 and from 2020 to 2021. |
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Adobe Inc. debt to equity ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Adobe Inc. debt to capital ratio improved from 2019 to 2020 and from 2020 to 2021. |
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Adobe Inc. debt to capital ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Adobe Inc. debt to assets ratio improved from 2019 to 2020 and from 2020 to 2021. |
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Adobe Inc. debt to assets ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Adobe Inc. financial leverage ratio decreased from 2019 to 2020 but then slightly increased from 2020 to 2021. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Adobe Inc. interest coverage ratio improved from 2019 to 2020 and from 2020 to 2021. |
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Adobe Inc. fixed charge coverage ratio improved from 2019 to 2020 and from 2020 to 2021. |
Debt to Equity
Adobe Inc., debt to equity calculation, comparison to benchmarks
| Dec 3, 2021 | Nov 27, 2020 | Nov 29, 2019 | Nov 30, 2018 | Dec 1, 2017 | Dec 2, 2016 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Debt, current portion | — | — | 3,149 | — | — | — | |
| Debt, excluding current portion | 4,123 | 4,117 | 989 | 4,125 | 1,881 | 1,902 | |
| Total debt | 4,123 | 4,117 | 4,138 | 4,125 | 1,881 | 1,902 | |
| Stockholders’ equity | 14,797 | 13,264 | 10,530 | 9,362 | 8,460 | 7,425 | |
| Solvency Ratio | |||||||
| Debt to equity1 | 0.28 | 0.31 | 0.39 | 0.44 | 0.22 | 0.26 | |
| Benchmarks | |||||||
| Debt to Equity, Competitors2 | |||||||
| Accenture PLC | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Automatic Data Processing Inc. | 0.53 | 0.35 | 0.42 | 0.58 | 0.50 | 0.45 | |
| Fidelity National Information Services Inc. | 0.43 | 0.41 | 0.41 | 0.88 | 0.81 | — | |
| International Business Machines Corp. | 2.74 | 2.99 | 3.02 | 2.73 | 2.66 | — | |
| Intuit Inc. | 0.21 | 0.66 | 0.12 | 0.19 | 0.36 | 0.86 | |
| Mastercard Inc. | 1.90 | 1.98 | 1.45 | 1.17 | 0.99 | — | |
| Microsoft Corp. | 0.50 | 0.62 | 0.77 | 0.97 | 1.23 | 0.76 | |
| Oracle Corp. | 16.08 | 5.93 | 2.58 | 1.33 | 1.08 | 0.93 | |
| PayPal Holdings Inc. | 0.42 | 0.45 | 0.29 | 0.13 | 0.06 | — | |
| salesforce.com inc. | 0.07 | 0.09 | 0.22 | 0.21 | 0.32 | — | |
| ServiceNow Inc. | 0.43 | 0.58 | 0.33 | 0.60 | 2.01 | — | |
| Visa Inc. | 0.56 | 0.66 | 0.48 | 0.49 | 0.56 | 0.48 | |
| Debt to Equity, Sector | |||||||
| Software & Services | 0.76 | 0.84 | 0.85 | 0.93 | 0.98 | — | |
| Debt to Equity, Industry | |||||||
| Information Technology | 0.74 | 0.83 | 0.81 | 0.80 | 0.78 | — | |
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).
1 2021 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= 4,123 ÷ 14,797 = 0.28
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Adobe Inc. debt to equity ratio improved from 2019 to 2020 and from 2020 to 2021. |
Debt to Equity (including Operating Lease Liability)
Adobe Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks
| Dec 3, 2021 | Nov 27, 2020 | Nov 29, 2019 | Nov 30, 2018 | Dec 1, 2017 | Dec 2, 2016 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Debt, current portion | — | — | 3,149 | — | — | — | |
| Debt, excluding current portion | 4,123 | 4,117 | 989 | 4,125 | 1,881 | 1,902 | |
| Total debt | 4,123 | 4,117 | 4,138 | 4,125 | 1,881 | 1,902 | |
| Current operating lease liabilities | 97 | 92 | — | — | — | — | |
| Long-term operating lease liabilities | 453 | 499 | — | — | — | — | |
| Total debt (including operating lease liability) | 4,673 | 4,708 | 4,138 | 4,125 | 1,881 | 1,902 | |
| Stockholders’ equity | 14,797 | 13,264 | 10,530 | 9,362 | 8,460 | 7,425 | |
| Solvency Ratio | |||||||
| Debt to equity (including operating lease liability)1 | 0.32 | 0.35 | 0.39 | 0.44 | 0.22 | 0.26 | |
| Benchmarks | |||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | |||||||
| Accenture PLC | 0.18 | 0.21 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Automatic Data Processing Inc. | 0.61 | 0.43 | 0.42 | 0.58 | 0.50 | 0.45 | |
| Fidelity National Information Services Inc. | 0.44 | 0.42 | 0.42 | 0.88 | 0.81 | — | |
| International Business Machines Corp. | 2.92 | 3.23 | 3.27 | 2.73 | 2.66 | — | |
| Intuit Inc. | 0.25 | 0.71 | 0.12 | 0.19 | 0.36 | 0.86 | |
| Mastercard Inc. | 2.01 | 2.12 | 1.58 | 1.17 | 0.99 | — | |
| Microsoft Corp. | 0.58 | 0.69 | 0.84 | 1.06 | 1.23 | 0.76 | |
| Oracle Corp. | 16.61 | 6.10 | 2.58 | 1.33 | 1.08 | 0.93 | |
| PayPal Holdings Inc. | 0.45 | 0.49 | 0.32 | 0.13 | 0.06 | — | |
| salesforce.com inc. | 0.15 | 0.18 | 0.22 | 0.21 | 0.32 | — | |
| ServiceNow Inc. | 0.60 | 0.75 | 0.53 | 0.60 | 2.01 | — | |
| Visa Inc. | 0.57 | 0.68 | 0.48 | 0.49 | 0.56 | 0.48 | |
| Debt to Equity (including Operating Lease Liability), Sector | |||||||
| Software & Services | 0.84 | 0.92 | 0.90 | 0.96 | 0.98 | — | |
| Debt to Equity (including Operating Lease Liability), Industry | |||||||
| Information Technology | 0.80 | 0.90 | 0.84 | 0.81 | 0.78 | — | |
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).
1 2021 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Stockholders’ equity
= 4,673 ÷ 14,797 = 0.32
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Adobe Inc. debt to equity ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021. |
Debt to Capital
Adobe Inc., debt to capital calculation, comparison to benchmarks
| Dec 3, 2021 | Nov 27, 2020 | Nov 29, 2019 | Nov 30, 2018 | Dec 1, 2017 | Dec 2, 2016 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Debt, current portion | — | — | 3,149 | — | — | — | |
| Debt, excluding current portion | 4,123 | 4,117 | 989 | 4,125 | 1,881 | 1,902 | |
| Total debt | 4,123 | 4,117 | 4,138 | 4,125 | 1,881 | 1,902 | |
| Stockholders’ equity | 14,797 | 13,264 | 10,530 | 9,362 | 8,460 | 7,425 | |
| Total capital | 18,920 | 17,381 | 14,668 | 13,487 | 10,341 | 9,327 | |
| Solvency Ratio | |||||||
| Debt to capital1 | 0.22 | 0.24 | 0.28 | 0.31 | 0.18 | 0.20 | |
| Benchmarks | |||||||
| Debt to Capital, Competitors2 | |||||||
| Accenture PLC | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Automatic Data Processing Inc. | 0.35 | 0.26 | 0.30 | 0.37 | 0.33 | 0.31 | |
| Fidelity National Information Services Inc. | 0.30 | 0.29 | 0.29 | 0.47 | 0.45 | — | |
| International Business Machines Corp. | 0.73 | 0.75 | 0.75 | 0.73 | 0.73 | — | |
| Intuit Inc. | 0.17 | 0.40 | 0.10 | 0.16 | 0.26 | 0.46 | |
| Mastercard Inc. | 0.66 | 0.66 | 0.59 | 0.54 | 0.50 | — | |
| Microsoft Corp. | 0.33 | 0.38 | 0.43 | 0.49 | 0.55 | 0.43 | |
| Oracle Corp. | 0.94 | 0.86 | 0.72 | 0.57 | 0.52 | 0.48 | |
| PayPal Holdings Inc. | 0.29 | 0.31 | 0.23 | 0.11 | 0.06 | — | |
| salesforce.com inc. | 0.06 | 0.08 | 0.18 | 0.18 | 0.24 | — | |
| ServiceNow Inc. | 0.30 | 0.37 | 0.25 | 0.37 | 0.67 | — | |
| Visa Inc. | 0.36 | 0.40 | 0.33 | 0.33 | 0.36 | 0.33 | |
| Debt to Capital, Sector | |||||||
| Software & Services | 0.43 | 0.46 | 0.46 | 0.48 | 0.50 | — | |
| Debt to Capital, Industry | |||||||
| Information Technology | 0.43 | 0.45 | 0.45 | 0.44 | 0.44 | — | |
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).
1 2021 Calculation
Debt to capital = Total debt ÷ Total capital
= 4,123 ÷ 18,920 = 0.22
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Adobe Inc. debt to capital ratio improved from 2019 to 2020 and from 2020 to 2021. |
Debt to Capital (including Operating Lease Liability)
Adobe Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks
| Dec 3, 2021 | Nov 27, 2020 | Nov 29, 2019 | Nov 30, 2018 | Dec 1, 2017 | Dec 2, 2016 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Debt, current portion | — | — | 3,149 | — | — | — | |
| Debt, excluding current portion | 4,123 | 4,117 | 989 | 4,125 | 1,881 | 1,902 | |
| Total debt | 4,123 | 4,117 | 4,138 | 4,125 | 1,881 | 1,902 | |
| Current operating lease liabilities | 97 | 92 | — | — | — | — | |
| Long-term operating lease liabilities | 453 | 499 | — | — | — | — | |
| Total debt (including operating lease liability) | 4,673 | 4,708 | 4,138 | 4,125 | 1,881 | 1,902 | |
| Stockholders’ equity | 14,797 | 13,264 | 10,530 | 9,362 | 8,460 | 7,425 | |
| Total capital (including operating lease liability) | 19,470 | 17,972 | 14,668 | 13,487 | 10,341 | 9,327 | |
| Solvency Ratio | |||||||
| Debt to capital (including operating lease liability)1 | 0.24 | 0.26 | 0.28 | 0.31 | 0.18 | 0.20 | |
| Benchmarks | |||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | |||||||
| Accenture PLC | 0.15 | 0.17 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Automatic Data Processing Inc. | 0.38 | 0.30 | 0.30 | 0.37 | 0.33 | 0.31 | |
| Fidelity National Information Services Inc. | 0.31 | 0.29 | 0.30 | 0.47 | 0.45 | — | |
| International Business Machines Corp. | 0.74 | 0.76 | 0.77 | 0.73 | 0.73 | — | |
| Intuit Inc. | 0.20 | 0.42 | 0.10 | 0.16 | 0.26 | 0.46 | |
| Mastercard Inc. | 0.67 | 0.68 | 0.61 | 0.54 | 0.50 | — | |
| Microsoft Corp. | 0.37 | 0.41 | 0.46 | 0.51 | 0.55 | 0.43 | |
| Oracle Corp. | 0.94 | 0.86 | 0.72 | 0.57 | 0.52 | 0.48 | |
| PayPal Holdings Inc. | 0.31 | 0.33 | 0.24 | 0.11 | 0.06 | — | |
| salesforce.com inc. | 0.13 | 0.16 | 0.18 | 0.18 | 0.24 | — | |
| ServiceNow Inc. | 0.37 | 0.43 | 0.35 | 0.37 | 0.67 | — | |
| Visa Inc. | 0.36 | 0.40 | 0.33 | 0.33 | 0.36 | 0.33 | |
| Debt to Capital (including Operating Lease Liability), Sector | |||||||
| Software & Services | 0.46 | 0.48 | 0.47 | 0.49 | 0.50 | — | |
| Debt to Capital (including Operating Lease Liability), Industry | |||||||
| Information Technology | 0.45 | 0.47 | 0.46 | 0.45 | 0.44 | — | |
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).
1 2021 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 4,673 ÷ 19,470 = 0.24
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Adobe Inc. debt to capital ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021. |
Debt to Assets
Adobe Inc., debt to assets calculation, comparison to benchmarks
| Dec 3, 2021 | Nov 27, 2020 | Nov 29, 2019 | Nov 30, 2018 | Dec 1, 2017 | Dec 2, 2016 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Debt, current portion | — | — | 3,149 | — | — | — | |
| Debt, excluding current portion | 4,123 | 4,117 | 989 | 4,125 | 1,881 | 1,902 | |
| Total debt | 4,123 | 4,117 | 4,138 | 4,125 | 1,881 | 1,902 | |
| Total assets | 27,241 | 24,284 | 20,762 | 18,769 | 14,536 | 12,707 | |
| Solvency Ratio | |||||||
| Debt to assets1 | 0.15 | 0.17 | 0.20 | 0.22 | 0.13 | 0.15 | |
| Benchmarks | |||||||
| Debt to Assets, Competitors2 | |||||||
| Accenture PLC | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Automatic Data Processing Inc. | 0.06 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | |
| Fidelity National Information Services Inc. | 0.25 | 0.24 | 0.24 | 0.38 | 0.36 | — | |
| International Business Machines Corp. | 0.39 | 0.39 | 0.41 | 0.37 | 0.37 | — | |
| Intuit Inc. | 0.13 | 0.31 | 0.07 | 0.08 | 0.12 | 0.24 | |
| Mastercard Inc. | 0.37 | 0.38 | 0.29 | 0.25 | 0.25 | — | |
| Microsoft Corp. | 0.21 | 0.24 | 0.27 | 0.31 | 0.37 | 0.28 | |
| Oracle Corp. | 0.64 | 0.62 | 0.52 | 0.44 | 0.43 | 0.39 | |
| PayPal Holdings Inc. | 0.12 | 0.13 | 0.10 | 0.05 | 0.02 | — | |
| salesforce.com inc. | 0.04 | 0.06 | 0.11 | 0.10 | 0.14 | — | |
| ServiceNow Inc. | 0.15 | 0.19 | 0.12 | 0.17 | 0.35 | — | |
| Visa Inc. | 0.25 | 0.30 | 0.23 | 0.24 | 0.27 | 0.25 | |
| Debt to Assets, Sector | |||||||
| Software & Services | 0.26 | 0.28 | 0.28 | 0.29 | 0.31 | — | |
| Debt to Assets, Industry | |||||||
| Information Technology | 0.27 | 0.29 | 0.29 | 0.29 | 0.30 | — | |
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).
1 2021 Calculation
Debt to assets = Total debt ÷ Total assets
= 4,123 ÷ 27,241 = 0.15
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Adobe Inc. debt to assets ratio improved from 2019 to 2020 and from 2020 to 2021. |
Debt to Assets (including Operating Lease Liability)
Adobe Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks
| Dec 3, 2021 | Nov 27, 2020 | Nov 29, 2019 | Nov 30, 2018 | Dec 1, 2017 | Dec 2, 2016 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Debt, current portion | — | — | 3,149 | — | — | — | |
| Debt, excluding current portion | 4,123 | 4,117 | 989 | 4,125 | 1,881 | 1,902 | |
| Total debt | 4,123 | 4,117 | 4,138 | 4,125 | 1,881 | 1,902 | |
| Current operating lease liabilities | 97 | 92 | — | — | — | — | |
| Long-term operating lease liabilities | 453 | 499 | — | — | — | — | |
| Total debt (including operating lease liability) | 4,673 | 4,708 | 4,138 | 4,125 | 1,881 | 1,902 | |
| Total assets | 27,241 | 24,284 | 20,762 | 18,769 | 14,536 | 12,707 | |
| Solvency Ratio | |||||||
| Debt to assets (including operating lease liability)1 | 0.17 | 0.19 | 0.20 | 0.22 | 0.13 | 0.15 | |
| Benchmarks | |||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | |||||||
| Accenture PLC | 0.08 | 0.09 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Automatic Data Processing Inc. | 0.07 | 0.06 | 0.05 | 0.05 | 0.05 | 0.05 | |
| Fidelity National Information Services Inc. | 0.25 | 0.25 | 0.25 | 0.38 | 0.36 | — | |
| International Business Machines Corp. | 0.42 | 0.43 | 0.45 | 0.37 | 0.37 | — | |
| Intuit Inc. | 0.16 | 0.33 | 0.07 | 0.08 | 0.12 | 0.24 | |
| Mastercard Inc. | 0.39 | 0.40 | 0.32 | 0.25 | 0.25 | — | |
| Microsoft Corp. | 0.25 | 0.27 | 0.30 | 0.34 | 0.37 | 0.28 | |
| Oracle Corp. | 0.66 | 0.64 | 0.52 | 0.44 | 0.43 | 0.39 | |
| PayPal Holdings Inc. | 0.13 | 0.14 | 0.11 | 0.05 | 0.02 | — | |
| salesforce.com inc. | 0.10 | 0.11 | 0.11 | 0.10 | 0.14 | — | |
| ServiceNow Inc. | 0.21 | 0.24 | 0.19 | 0.17 | 0.35 | — | |
| Visa Inc. | 0.26 | 0.30 | 0.23 | 0.24 | 0.27 | 0.25 | |
| Debt to Assets (including Operating Lease Liability), Sector | |||||||
| Software & Services | 0.29 | 0.31 | 0.30 | 0.30 | 0.31 | — | |
| Debt to Assets (including Operating Lease Liability), Industry | |||||||
| Information Technology | 0.29 | 0.31 | 0.30 | 0.29 | 0.30 | — | |
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).
1 2021 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 4,673 ÷ 27,241 = 0.17
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Adobe Inc. debt to assets ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021. |
Financial Leverage
Adobe Inc., financial leverage calculation, comparison to benchmarks
| Dec 3, 2021 | Nov 27, 2020 | Nov 29, 2019 | Nov 30, 2018 | Dec 1, 2017 | Dec 2, 2016 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Total assets | 27,241 | 24,284 | 20,762 | 18,769 | 14,536 | 12,707 | |
| Stockholders’ equity | 14,797 | 13,264 | 10,530 | 9,362 | 8,460 | 7,425 | |
| Solvency Ratio | |||||||
| Financial leverage1 | 1.84 | 1.83 | 1.97 | 2.00 | 1.72 | 1.71 | |
| Benchmarks | |||||||
| Financial Leverage, Competitors2 | |||||||
| Accenture PLC | 2.21 | 2.18 | 2.07 | 2.36 | 2.54 | 2.73 | |
| Automatic Data Processing Inc. | 8.60 | 6.81 | 7.76 | 10.72 | 9.35 | 9.74 | |
| Fidelity National Information Services Inc. | 1.75 | 1.70 | 1.70 | 2.33 | 2.26 | — | |
| International Business Machines Corp. | 6.98 | 7.57 | 7.30 | 7.35 | 7.12 | — | |
| Intuit Inc. | 1.57 | 2.14 | 1.68 | 2.20 | 3.00 | 3.66 | |
| Mastercard Inc. | 5.15 | 5.25 | 4.96 | 4.61 | 3.90 | — | |
| Microsoft Corp. | 2.35 | 2.55 | 2.80 | 3.13 | 3.33 | 2.69 | |
| Oracle Corp. | 25.03 | 9.56 | 4.99 | 3.00 | 2.51 | 2.37 | |
| PayPal Holdings Inc. | 3.49 | 3.52 | 3.04 | 2.82 | 2.55 | — | |
| salesforce.com inc. | 1.60 | 1.63 | 1.97 | 2.24 | 2.34 | — | |
| ServiceNow Inc. | 2.92 | 3.07 | 2.83 | 3.49 | 5.82 | — | |
| Visa Inc. | 2.21 | 2.23 | 2.09 | 2.04 | 2.08 | 1.95 | |
| Financial Leverage, Sector | |||||||
| Software & Services | 2.90 | 2.98 | 3.03 | 3.21 | 3.15 | — | |
| Financial Leverage, Industry | |||||||
| Information Technology | 2.73 | 2.86 | 2.81 | 2.80 | 2.61 | — | |
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).
1 2021 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= 27,241 ÷ 14,797 = 1.84
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Adobe Inc. financial leverage ratio decreased from 2019 to 2020 but then slightly increased from 2020 to 2021. |
Interest Coverage
Adobe Inc., interest coverage calculation, comparison to benchmarks
| Dec 3, 2021 | Nov 27, 2020 | Nov 29, 2019 | Nov 30, 2018 | Dec 1, 2017 | Dec 2, 2016 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Net income | 4,822 | 5,260 | 2,951 | 2,591 | 1,694 | 1,169 | |
| Add: Income tax expense | 883 | (1,084) | 253 | 203 | 444 | 266 | |
| Add: Interest expense | 113 | 116 | 157 | 89 | 74 | 70 | |
| Earnings before interest and tax (EBIT) | 5,818 | 4,292 | 3,362 | 2,883 | 2,212 | 1,506 | |
| Solvency Ratio | |||||||
| Interest coverage1 | 51.49 | 37.00 | 21.38 | 32.31 | 29.73 | 21.37 | |
| Benchmarks | |||||||
| Interest Coverage, Competitors2 | |||||||
| Accenture PLC | 131.46 | 205.84 | 273.26 | 298.26 | 297.95 | 345.67 | |
| Automatic Data Processing Inc. | 57.30 | 30.72 | 24.14 | 22.14 | 32.64 | 40.76 | |
| Fidelity National Information Services Inc. | 4.68 | 1.77 | 2.04 | 4.47 | 3.88 | — | |
| International Business Machines Corp. | 5.20 | 4.62 | 8.58 | 16.71 | 19.56 | — | |
| Intuit Inc. | 89.14 | 158.00 | 126.40 | 76.15 | 45.10 | 35.37 | |
| Mastercard Inc. | 24.91 | 21.42 | 44.44 | 39.73 | 43.35 | — | |
| Microsoft Corp. | 31.31 | 21.47 | 17.27 | 14.35 | 11.42 | 16.89 | |
| Oracle Corp. | 6.28 | 7.13 | 6.97 | 7.43 | 7.47 | 8.88 | |
| PayPal Holdings Inc. | 18.67 | 25.23 | 27.07 | 31.86 | 315.29 | — | |
| salesforce.com inc. | 21.33 | 6.39 | 7.38 | 3.32 | 1.29 | — | |
| ServiceNow Inc. | 9.89 | 5.56 | 3.02 | 0.26 | -1.79 | — | |
| Visa Inc. | 32.31 | 27.72 | 28.92 | 21.92 | 21.77 | 19.76 | |
| Interest Coverage, Sector | |||||||
| Software & Services | 19.27 | 15.70 | 14.91 | 14.74 | 13.90 | — | |
| Interest Coverage, Industry | |||||||
| Information Technology | 23.43 | 17.30 | 16.59 | 18.11 | 17.25 | — | |
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).
1 2021 Calculation
Interest coverage = EBIT ÷ Interest expense
= 5,818 ÷ 113 = 51.49
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Adobe Inc. interest coverage ratio improved from 2019 to 2020 and from 2020 to 2021. |
Fixed Charge Coverage
Adobe Inc., fixed charge coverage calculation, comparison to benchmarks
| Dec 3, 2021 | Nov 27, 2020 | Nov 29, 2019 | Nov 30, 2018 | Dec 1, 2017 | Dec 2, 2016 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Net income | 4,822 | 5,260 | 2,951 | 2,591 | 1,694 | 1,169 | |
| Add: Income tax expense | 883 | (1,084) | 253 | 203 | 444 | 266 | |
| Add: Interest expense | 113 | 116 | 157 | 89 | 74 | 70 | |
| Earnings before interest and tax (EBIT) | 5,818 | 4,292 | 3,362 | 2,883 | 2,212 | 1,506 | |
| Add: Operating lease expense | 119 | 119 | 171 | 137 | 115 | 93 | |
| Earnings before fixed charges and tax | 5,937 | 4,411 | 3,532 | 3,020 | 2,327 | 1,598 | |
| Interest expense | 113 | 116 | 157 | 89 | 74 | 70 | |
| Operating lease expense | 119 | 119 | 171 | 137 | 115 | 93 | |
| Fixed charges | 232 | 235 | 328 | 226 | 190 | 163 | |
| Solvency Ratio | |||||||
| Fixed charge coverage1 | 25.59 | 18.77 | 10.78 | 13.34 | 12.26 | 9.79 | |
| Benchmarks | |||||||
| Fixed Charge Coverage, Competitors2 | |||||||
| Accenture PLC | 10.41 | 9.66 | 10.07 | 9.63 | 8.30 | 10.43 | |
| Automatic Data Processing Inc. | 15.85 | 12.22 | 8.51 | 7.43 | 9.05 | 7.82 | |
| Fidelity National Information Services Inc. | 3.12 | 1.47 | 1.75 | 3.36 | 3.10 | — | |
| International Business Machines Corp. | 3.13 | 2.62 | 4.41 | 5.26 | 5.69 | — | |
| Intuit Inc. | 25.58 | 27.48 | 34.00 | 26.91 | 22.03 | 17.94 | |
| Mastercard Inc. | 19.64 | 16.43 | 31.13 | 25.01 | 26.78 | — | |
| Microsoft Corp. | 16.90 | 12.44 | 10.94 | 9.45 | 7.57 | 9.81 | |
| Oracle Corp. | 5.17 | 5.68 | 5.50 | 6.38 | 6.39 | 7.44 | |
| PayPal Holdings Inc. | 11.20 | 14.51 | 12.94 | 14.89 | 29.95 | — | |
| salesforce.com inc. | 2.92 | 1.68 | 2.89 | 1.54 | 1.08 | — | |
| ServiceNow Inc. | 2.95 | 2.29 | 1.69 | 0.61 | -0.55 | — | |
| Visa Inc. | 26.74 | 22.89 | 19.17 | 16.32 | 17.20 | 15.28 | |
| Fixed Charge Coverage, Sector | |||||||
| Software & Services | 10.69 | 8.75 | 8.75 | 8.48 | 7.93 | — | |
| Fixed Charge Coverage, Industry | |||||||
| Information Technology | 13.91 | 10.65 | 10.90 | 11.70 | 10.99 | — | |
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).
1 2021 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 5,937 ÷ 232 = 25.59
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Adobe Inc. fixed charge coverage ratio improved from 2019 to 2020 and from 2020 to 2021. |