Stock Analysis on Net

Adobe Inc. (NASDAQ:ADBE)

Analysis of Long-term (Investment) Activity Ratios 

Microsoft Excel LibreOffice Calc

Long-term Activity Ratios (Summary)

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

Microsoft Excel LibreOffice Calc
Dec 3, 2021 Nov 27, 2020 Nov 29, 2019 Nov 30, 2018 Dec 1, 2017 Dec 2, 2016
Net fixed asset turnover 9.44 8.48 8.64 8.40 7.79 7.17
Net fixed asset turnover (including operating lease, right-of-use asset) 7.46 6.42 8.64 8.40 7.79 7.17
Total asset turnover 0.58 0.53 0.54 0.48 0.50 0.46
Equity turnover 1.07 0.97 1.06 0.96 0.86 0.79

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).

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. net fixed asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 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. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Adobe Inc. total asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Adobe Inc. equity turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Net Fixed Asset Turnover

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

Microsoft Excel LibreOffice Calc
Dec 3, 2021 Nov 27, 2020 Nov 29, 2019 Nov 30, 2018 Dec 1, 2017 Dec 2, 2016
Selected Financial Data (US$ in millions)
Revenue 15,785  12,868  11,171  9,030  7,302  5,854 
Property and equipment, net 1,673  1,517  1,293  1,075  937  816 
Long-term Activity Ratio
Net fixed asset turnover1 9.44 8.48 8.64 8.40 7.79 7.17
Benchmarks
Net Fixed Asset Turnover, Competitors2
Accenture PLC 30.83 28.68 31.06 32.91 32.23 36.38
Automatic Data Processing Inc. 21.92 20.73 18.55 16.79 15.87 17.03
International Business Machines Corp. 10.07 7.33 7.71 7.38 7.12
Intuit Inc. 12.35 10.46 8.70 7.34 5.03 4.55
Mastercard Inc. 15.28 13.26 15.11 16.23 15.07
Microsoft Corp. 2.81 3.24 3.45 3.75 3.79 4.65
Oracle Corp. 5.74 6.26 6.32 6.75 7.10
PayPal Holdings Inc. 13.29 11.87 10.50 8.96 8.57
Salesforce Inc. 8.64 7.20 6.48 5.38 4.69
ServiceNow Inc. 7.70 6.85 7.39 7.51 7.89
Visa Inc. 8.88 7.98 8.53 8.34 8.15 7.01
Net Fixed Asset Turnover, Sector
Software & Services 5.24 5.64 6.03 6.33 6.37
Net Fixed Asset Turnover, Industry
Information Technology 4.63 4.41 4.47 4.73 4.85

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
Net fixed asset turnover = Revenue ÷ Property and equipment, net
= 15,785 ÷ 1,673 = 9.44

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. net fixed asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 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
Dec 3, 2021 Nov 27, 2020 Nov 29, 2019 Nov 30, 2018 Dec 1, 2017 Dec 2, 2016
Selected Financial Data (US$ in millions)
Revenue 15,785  12,868  11,171  9,030  7,302  5,854 
 
Property and equipment, net 1,673  1,517  1,293  1,075  937  816 
Operating lease right-of-use assets, net 443  487  —  —  —  — 
Property and equipment, net (including operating lease, right-of-use asset) 2,116  2,004  1,293  1,075  937  816 
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 7.46 6.42 8.64 8.40 7.79 7.17
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Accenture PLC 10.48 9.37 31.06 32.91 32.23 36.38
Automatic Data Processing Inc. 13.09 12.18 18.55 16.79 15.87 17.03
International Business Machines Corp. 6.43 5.00 5.14 7.38 7.12
Intuit Inc. 8.30 8.00 8.70 7.34 5.03 4.55
Mastercard Inc. 9.90 8.04 9.24 16.23 15.07
Microsoft Corp. 2.37 2.70 2.87 3.05 3.79 4.65
Oracle Corp. 4.20 4.74 6.32 6.75 7.10
PayPal Holdings Inc. 9.88 8.53 8.18 8.96 8.57
Salesforce Inc. 3.75 3.16 6.48 5.38 4.69
ServiceNow Inc. 4.34 4.06 3.98 7.51 7.89
Visa Inc. 7.46 6.73 8.53 8.34 8.15 7.01
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Software & Services 3.99 4.20 4.97 5.67 6.37
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Information Technology 3.94 3.74 4.16 4.57 4.85

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
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenue ÷ Property and equipment, net (including operating lease, right-of-use asset)
= 15,785 ÷ 2,116 = 7.46

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. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021.

Total Asset Turnover

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

Microsoft Excel LibreOffice Calc
Dec 3, 2021 Nov 27, 2020 Nov 29, 2019 Nov 30, 2018 Dec 1, 2017 Dec 2, 2016
Selected Financial Data (US$ in millions)
Revenue 15,785  12,868  11,171  9,030  7,302  5,854 
Total assets 27,241  24,284  20,762  18,769  14,536  12,707 
Long-term Activity Ratio
Total asset turnover1 0.58 0.53 0.54 0.48 0.50 0.46
Benchmarks
Total Asset Turnover, Competitors2
Accenture PLC 1.17 1.20 1.45 1.70 1.62 1.69
Automatic Data Processing Inc. 0.31 0.37 0.34 0.36 0.33 0.27
International Business Machines Corp. 0.43 0.47 0.51 0.65 0.63
Intuit Inc. 0.62 0.70 1.08 1.15 1.27 1.10
Mastercard Inc. 0.50 0.46 0.58 0.60 0.59
Microsoft Corp. 0.50 0.47 0.44 0.43 0.37 0.44
Oracle Corp. 0.31 0.34 0.36 0.29 0.28
PayPal Holdings Inc. 0.33 0.30 0.35 0.36 0.32
Salesforce Inc. 0.32 0.31 0.43 0.50 0.48
ServiceNow Inc. 0.55 0.52 0.57 0.67 0.57
Visa Inc. 0.29 0.27 0.32 0.30 0.27 0.24
Total Asset Turnover, Sector
Software & Services 0.45 0.45 0.47 0.47 0.44
Total Asset Turnover, Industry
Information Technology 0.58 0.54 0.55 0.56 0.49

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
Total asset turnover = Revenue ÷ Total assets
= 15,785 ÷ 27,241 = 0.58

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. total asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Equity Turnover

Adobe Inc., equity turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 3, 2021 Nov 27, 2020 Nov 29, 2019 Nov 30, 2018 Dec 1, 2017 Dec 2, 2016
Selected Financial Data (US$ in millions)
Revenue 15,785  12,868  11,171  9,030  7,302  5,854 
Stockholders’ equity 14,797  13,264  10,530  9,362  8,460  7,425 
Long-term Activity Ratio
Equity turnover1 1.07 0.97 1.06 0.96 0.86 0.79
Benchmarks
Equity Turnover, Competitors2
Accenture PLC 2.59 2.61 3.00 4.01 4.11 4.61
Automatic Data Processing Inc. 2.65 2.54 2.63 3.85 3.11 2.60
International Business Machines Corp. 3.03 3.57 3.70 4.74 4.50
Intuit Inc. 0.98 1.50 1.81 2.53 3.82 4.04
Mastercard Inc. 2.58 2.39 2.86 2.77 2.29
Microsoft Corp. 1.18 1.21 1.23 1.33 1.24 1.19
Oracle Corp. 7.73 3.24 1.81 0.87 0.70
PayPal Holdings Inc. 1.17 1.07 1.05 1.00 0.82
Salesforce Inc. 0.51 0.50 0.85 1.12 1.12
ServiceNow Inc. 1.60 1.59 1.63 2.35 3.31
Visa Inc. 0.64 0.60 0.66 0.61 0.56 0.46
Equity Turnover, Sector
Software & Services 1.38 1.43 1.54 1.54 1.41
Equity Turnover, Industry
Information Technology 1.62 1.59 1.60 1.58 1.27

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
Equity turnover = Revenue ÷ Stockholders’ equity
= 15,785 ÷ 14,797 = 1.07

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. equity turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.