Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.

Long-term Activity Ratios (Summary)
Net Fixed Asset Turnover
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Total Asset Turnover
Equity Turnover

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

		Dec 1, 2023	Dec 2, 2022	Dec 3, 2021	Nov 27, 2020	Nov 29, 2019	Nov 30, 2018
	Net fixed asset turnover
	Net fixed asset turnover (including operating lease, right-of-use asset)
	Total asset turnover
	Equity turnover

Based on: 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).

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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 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 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) improved from 2021 to 2022 and from 2022 to 2023.
Total asset turnover	An activity ratio calculated as total revenue divided by total assets.	Adobe Inc. total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.
Equity turnover	An activity ratio calculated as total revenue divided by shareholders’ equity.	Adobe Inc. equity turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

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

		Dec 1, 2023	Dec 2, 2022	Dec 3, 2021	Nov 27, 2020	Nov 29, 2019	Nov 30, 2018
	Selected Financial Data (US$ in millions)
	Revenue
	Property and equipment, net
	Long-term Activity Ratio
	Net fixed asset turnover¹
	Benchmarks
	Net Fixed Asset Turnover, Competitors²
	Accenture PLC
	International Business Machines Corp.
	Intuit Inc.
	Microsoft Corp.
	Oracle Corp.
	Palo Alto Networks Inc.
	Salesforce Inc.
	ServiceNow Inc.
	Synopsys Inc.
	Net Fixed Asset Turnover, Sector
	Software & Services
	Net Fixed Asset Turnover, Industry
	Information Technology

Based on: 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).

¹ 2023 Calculation
Net fixed asset turnover = Revenue ÷ Property and equipment, net
= ÷ =

² Click competitor name to see calculations.

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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 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

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

		Dec 1, 2023	Dec 2, 2022	Dec 3, 2021	Nov 27, 2020	Nov 29, 2019	Nov 30, 2018
	Selected Financial Data (US$ in millions)
	Revenue

	Property and equipment, net
	Operating lease right-of-use assets, net
	Property and equipment, net (including operating lease, right-of-use asset)
	Long-term Activity Ratio
	Net fixed asset turnover (including operating lease, right-of-use asset)¹
	Benchmarks
	Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors²
	Accenture PLC
	International Business Machines Corp.
	Intuit Inc.
	Microsoft Corp.
	Oracle Corp.
	Palo Alto Networks Inc.
	Salesforce Inc.
	ServiceNow Inc.
	Synopsys Inc.
	Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
	Software & Services
	Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
	Information Technology

Based on: 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).

¹ 2023 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenue ÷ Property and equipment, net (including operating lease, right-of-use asset)
= ÷ =

² Click competitor name to see calculations.

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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) improved from 2021 to 2022 and from 2022 to 2023.

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

		Dec 1, 2023	Dec 2, 2022	Dec 3, 2021	Nov 27, 2020	Nov 29, 2019	Nov 30, 2018
	Selected Financial Data (US$ in millions)
	Revenue
	Total assets
	Long-term Activity Ratio
	Total asset turnover¹
	Benchmarks
	Total Asset Turnover, Competitors²
	Accenture PLC
	International Business Machines Corp.
	Intuit Inc.
	Microsoft Corp.
	Oracle Corp.
	Palo Alto Networks Inc.
	Salesforce Inc.
	ServiceNow Inc.
	Synopsys Inc.
	Total Asset Turnover, Sector
	Software & Services
	Total Asset Turnover, Industry
	Information Technology

Based on: 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).

¹ 2023 Calculation
Total asset turnover = Revenue ÷ Total assets
= ÷ =

² Click competitor name to see calculations.

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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 improved from 2021 to 2022 and from 2022 to 2023.

Adobe Inc., equity turnover calculation, comparison to benchmarks

		Dec 1, 2023	Dec 2, 2022	Dec 3, 2021	Nov 27, 2020	Nov 29, 2019	Nov 30, 2018
	Selected Financial Data (US$ in millions)
	Revenue
	Stockholders’ equity
	Long-term Activity Ratio
	Equity turnover¹
	Benchmarks
	Equity Turnover, Competitors²
	Accenture PLC
	International Business Machines Corp.
	Intuit Inc.
	Microsoft Corp.
	Oracle Corp.
	Palo Alto Networks Inc.
	Salesforce Inc.
	ServiceNow Inc.
	Synopsys Inc.
	Equity Turnover, Sector
	Software & Services
	Equity Turnover, Industry
	Information Technology

Based on: 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).

¹ 2023 Calculation
Equity turnover = Revenue ÷ Stockholders’ equity
= ÷ =

² Click competitor name to see calculations.

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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 improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

	Adobe Inc.	Other companies (not purchased previously)
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Stock Price Trends
Financial Statements
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Financial Reporting Quality

Adobe Inc. (NASDAQ:ADBE)

Analysis of Long-term (Investment) Activity Ratios

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Long-term Activity Ratios (Summary)

Net Fixed Asset Turnover

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

Total Asset Turnover

Equity Turnover