Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Adobe Inc. (NASDAQ:ADBE)

Analysis of Long-term (Investment) Activity Ratios

Beginner level

Long-term Activity Ratios (Summary)

Adobe Inc., long-term (investment) activity ratios

Microsoft Excel LibreOffice Calc
Nov 27, 2020 Nov 29, 2019 Nov 30, 2018 Dec 1, 2017 Dec 2, 2016 Nov 27, 2015
Net fixed asset turnover 8.48 8.64 8.40 7.79 7.17 6.09
Net fixed asset turnover (including operating lease, right-of-use asset) 6.42 8.64 8.40 7.79 7.17 6.09
Total asset turnover 0.53 0.54 0.48 0.50 0.46 0.41
Equity turnover 0.97 1.06 0.96 0.86 0.79 0.68

Based on: 10-K (filing date: 2021-01-15), 10-K (filing date: 2020-01-21), 10-K (filing date: 2019-01-25), 10-K (filing date: 2018-01-22), 10-K (filing date: 2017-01-20), 10-K (filing date: 2016-01-19).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Adobe Inc.’s net fixed asset turnover ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020 not reaching 2018 level.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Adobe Inc.’s net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Adobe Inc.’s total asset turnover ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Adobe Inc.’s equity turnover ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020 not reaching 2018 level.

Net Fixed Asset Turnover

Adobe Inc., net fixed asset turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Nov 27, 2020 Nov 29, 2019 Nov 30, 2018 Dec 1, 2017 Dec 2, 2016 Nov 27, 2015
Selected Financial Data (US$ in millions)
Revenue 12,868  11,171  9,030  7,302  5,854  4,796 
Property and equipment, net 1,517  1,293  1,075  937  816  787 
Long-term Activity Ratio
Net fixed asset turnover1 8.48 8.64 8.40 7.79 7.17 6.09
Benchmarks
Net Fixed Asset Turnover, Competitors2
Alphabet Inc. 2.15 2.20 2.29 2.62 2.64
Autodesk Inc. 20.25 17.17 14.18 12.81 14.79
Facebook Inc. 1.88 2.00 2.26 2.96 3.22
International Business Machines Corp. 7.33 7.71 7.38 7.12 7.38
Intuit Inc. 10.46 8.70 7.34 5.03 4.55 6.15
Microsoft Corp. 3.24 3.45 3.75 3.79 4.65 6.35
Oracle Corp. 6.26 6.32 6.75 7.10 9.26 10.37
salesforce.com inc. 7.20 6.48 5.38 4.69 3.89
ServiceNow Inc. 6.85 7.39 7.51 7.89 7.66
Net Fixed Asset Turnover, Sector
Software & Computer Services 2.90 3.08 3.36 3.82 4.27
Net Fixed Asset Turnover, Industry
Technology 3.27 3.38 3.69 3.99 4.42

Based on: 10-K (filing date: 2021-01-15), 10-K (filing date: 2020-01-21), 10-K (filing date: 2019-01-25), 10-K (filing date: 2018-01-22), 10-K (filing date: 2017-01-20), 10-K (filing date: 2016-01-19).

1 2020 Calculation
Net fixed asset turnover = Revenue ÷ Property and equipment, net
= 12,868 ÷ 1,517 = 8.48

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Adobe Inc.’s net fixed asset turnover ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020 not reaching 2018 level.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Adobe Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Nov 27, 2020 Nov 29, 2019 Nov 30, 2018 Dec 1, 2017 Dec 2, 2016 Nov 27, 2015
Selected Financial Data (US$ in millions)
Revenue 12,868  11,171  9,030  7,302  5,854  4,796 
 
Property and equipment, net 1,517  1,293  1,075  937  816  787 
Operating lease right-of-use assets, net 487  —  —  —  —  — 
Property and equipment, net (including operating lease, right-of-use asset) 2,004  1,293  1,075  937  816  787 
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 6.42 8.64 8.40 7.79 7.17 6.09
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Alphabet Inc. 1.88 1.91 2.29 2.62 2.64
Autodesk Inc. 5.45 17.17 14.18 12.81 14.79
Facebook Inc. 1.56 1.58 2.26 2.96 3.22
International Business Machines Corp. 5.00 5.14 7.38 7.12 7.38
Intuit Inc. 8.00 8.70 7.34 5.03 4.55 6.15
Microsoft Corp. 2.70 2.87 3.05 3.79 4.65 6.35
Oracle Corp. 4.74 6.32 6.75 7.10 9.26 10.37
salesforce.com inc. 3.16 6.48 5.38 4.69 3.89
ServiceNow Inc. 4.06 3.98 7.51 7.89 7.66
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Software & Computer Services 2.39 2.57 3.20 3.82 4.27
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Technology 2.81 3.04 3.60 3.99 4.42

Based on: 10-K (filing date: 2021-01-15), 10-K (filing date: 2020-01-21), 10-K (filing date: 2019-01-25), 10-K (filing date: 2018-01-22), 10-K (filing date: 2017-01-20), 10-K (filing date: 2016-01-19).

1 2020 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenue ÷ Property and equipment, net (including operating lease, right-of-use asset)
= 12,868 ÷ 2,004 = 6.42

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Adobe Inc.’s net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020.

Total Asset Turnover

Adobe Inc., total asset turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Nov 27, 2020 Nov 29, 2019 Nov 30, 2018 Dec 1, 2017 Dec 2, 2016 Nov 27, 2015
Selected Financial Data (US$ in millions)
Revenue 12,868  11,171  9,030  7,302  5,854  4,796 
Total assets 24,284  20,762  18,769  14,536  12,707  11,726 
Long-term Activity Ratio
Total asset turnover1 0.53 0.54 0.48 0.50 0.46 0.41
Benchmarks
Total Asset Turnover, Competitors2
Alphabet Inc. 0.57 0.59 0.59 0.56 0.54
Autodesk Inc. 0.53 0.54 0.50 0.42 0.45
Facebook Inc. 0.54 0.53 0.57 0.48 0.43
International Business Machines Corp. 0.47 0.51 0.65 0.63 0.68
Intuit Inc. 0.70 1.08 1.15 1.27 1.10 0.84
Microsoft Corp. 0.47 0.44 0.43 0.37 0.44 0.53
Oracle Corp. 0.34 0.36 0.29 0.28 0.33 0.34
salesforce.com inc. 0.31 0.43 0.50 0.48 0.52
ServiceNow Inc. 0.52 0.57 0.67 0.57 0.68
Total Asset Turnover, Sector
Software & Computer Services 0.49 0.50 0.50 0.46 0.49
Total Asset Turnover, Industry
Technology 0.55 0.56 0.57 0.49 0.53

Based on: 10-K (filing date: 2021-01-15), 10-K (filing date: 2020-01-21), 10-K (filing date: 2019-01-25), 10-K (filing date: 2018-01-22), 10-K (filing date: 2017-01-20), 10-K (filing date: 2016-01-19).

1 2020 Calculation
Total asset turnover = Revenue ÷ Total assets
= 12,868 ÷ 24,284 = 0.53

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Adobe Inc.’s total asset turnover ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020.

Equity Turnover

Adobe Inc., equity turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Nov 27, 2020 Nov 29, 2019 Nov 30, 2018 Dec 1, 2017 Dec 2, 2016 Nov 27, 2015
Selected Financial Data (US$ in millions)
Revenue 12,868  11,171  9,030  7,302  5,854  4,796 
Stockholders’ equity 13,264  10,530  9,362  8,460  7,425  7,002 
Long-term Activity Ratio
Equity turnover1 0.97 1.06 0.96 0.86 0.79 0.68
Benchmarks
Equity Turnover, Competitors2
Alphabet Inc. 0.82 0.80 0.77 0.73 0.65
Autodesk Inc. 2.77 1.55
Facebook Inc. 0.67 0.70 0.66 0.55 0.47
International Business Machines Corp. 3.57 3.70 4.74 4.50 4.38
Intuit Inc. 1.50 1.81 2.53 3.82 4.04 1.80
Microsoft Corp. 1.21 1.23 1.33 1.24 1.19 1.17
Oracle Corp. 3.24 1.81 0.87 0.70 0.78 0.79
salesforce.com inc. 0.50 0.85 1.12 1.12 1.33
ServiceNow Inc. 1.59 1.63 2.35 3.31 3.59
Equity Turnover, Sector
Software & Computer Services 1.02 1.07 1.06 0.98 0.97
Equity Turnover, Industry
Technology 1.28 1.30 1.30 1.09 1.07

Based on: 10-K (filing date: 2021-01-15), 10-K (filing date: 2020-01-21), 10-K (filing date: 2019-01-25), 10-K (filing date: 2018-01-22), 10-K (filing date: 2017-01-20), 10-K (filing date: 2016-01-19).

1 2020 Calculation
Equity turnover = Revenue ÷ Stockholders’ equity
= 12,868 ÷ 13,264 = 0.97

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Adobe Inc.’s equity turnover ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020 not reaching 2018 level.