Stock Analysis on Net
Stock Analysis on Net

Adobe Inc. (NASDAQ:ADBE)

Analysis of Long-term (Investment) Activity Ratios
Quarterly Data

Beginner level

Long-term Activity Ratios (Summary)

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

Microsoft Excel LibreOffice Calc
Nov 27, 2020 Aug 28, 2020 May 29, 2020 Feb 28, 2020 Nov 29, 2019 Aug 30, 2019 May 31, 2019 Mar 1, 2019 Nov 30, 2018 Aug 31, 2018 Jun 1, 2018 Mar 2, 2018 Dec 1, 2017 Sep 1, 2017 Jun 2, 2017 Mar 3, 2017 Dec 2, 2016 Sep 2, 2016 Jun 3, 2016 Mar 4, 2016 Nov 27, 2015 Aug 28, 2015 May 29, 2015 Feb 27, 2015
Net fixed asset turnover 8.48 8.48 8.68 8.70 8.64 8.56 8.38 8.65 8.40 8.41 8.18 7.76 7.79 7.35 7.06 7.49 7.17 6.84 6.67 6.38 6.09
Net fixed asset turnover (including operating lease, right-of-use asset) 6.42 6.30 6.42 6.32 8.64 8.56 8.38 8.65 8.40 8.41 8.18 7.76 7.79 7.35 7.06 7.49 7.17 6.84 6.67 6.38 6.09
Total asset turnover 0.53 0.55 0.56 0.55 0.54 0.53 0.51 0.49 0.48 0.56 0.54 0.51 0.50 0.50 0.49 0.47 0.46 0.45 0.43 0.43 0.41
Equity turnover 0.97 1.06 1.11 1.11 1.06 1.04 1.02 0.97 0.96 0.97 0.93 0.89 0.86 0.84 0.84 0.81 0.79 0.76 0.73 0.72 0.68

Based on: 10-K (filing date: 2021-01-15), 10-Q (filing date: 2020-09-23), 10-Q (filing date: 2020-06-24), 10-Q (filing date: 2020-03-25), 10-K (filing date: 2020-01-21), 10-Q (filing date: 2019-09-26), 10-Q (filing date: 2019-06-26), 10-Q (filing date: 2019-03-27), 10-K (filing date: 2019-01-25), 10-Q (filing date: 2018-09-26), 10-Q (filing date: 2018-06-27), 10-Q (filing date: 2018-03-28), 10-K (filing date: 2018-01-22), 10-Q (filing date: 2017-09-27), 10-Q (filing date: 2017-06-28), 10-Q (filing date: 2017-03-29), 10-K (filing date: 2017-01-20), 10-Q (filing date: 2016-09-27), 10-Q (filing date: 2016-06-29), 10-Q (filing date: 2016-03-30), 10-K (filing date: 2016-01-19), 10-Q (filing date: 2015-09-23), 10-Q (filing date: 2015-06-24), 10-Q (filing date: 2015-03-25).

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 deteriorated from Q2 2020 to Q3 2020 but then slightly improved from Q3 2020 to Q4 2020.
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) deteriorated from Q2 2020 to Q3 2020 but then improved from Q3 2020 to Q4 2020 exceeding Q2 2020 level.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Adobe Inc.’s total asset turnover ratio deteriorated from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Adobe Inc.’s equity turnover ratio deteriorated from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.

Net Fixed Asset Turnover

Adobe Inc., net fixed asset turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Nov 27, 2020 Aug 28, 2020 May 29, 2020 Feb 28, 2020 Nov 29, 2019 Aug 30, 2019 May 31, 2019 Mar 1, 2019 Nov 30, 2018 Aug 31, 2018 Jun 1, 2018 Mar 2, 2018 Dec 1, 2017 Sep 1, 2017 Jun 2, 2017 Mar 3, 2017 Dec 2, 2016 Sep 2, 2016 Jun 3, 2016 Mar 4, 2016 Nov 27, 2015 Aug 28, 2015 May 29, 2015 Feb 27, 2015
Selected Financial Data (US$ in millions)
Revenue 3,424  3,225  3,128  3,091  2,992  2,834  2,744  2,601  2,465  2,291  2,195  2,079  2,007  1,841  1,772  1,682  1,608  1,464  1,399  1,383  1,306  1,218  1,162  1,109 
Property and equipment, net 1,517  1,467  1,387  1,340  1,293  1,244  1,205  1,104  1,075  1,019  993  992  937  940  924  822  816  812  796  795  787  797  785  784 
Long-term Activity Ratio
Net fixed asset turnover1 8.48 8.48 8.68 8.70 8.64 8.56 8.38 8.65 8.40 8.41 8.18 7.76 7.79 7.35 7.06 7.49 7.17 6.84 6.67 6.38 6.09
Benchmarks
Net Fixed Asset Turnover, Competitors2
Alphabet Inc. 2.15 2.10 2.11 2.17 2.20 2.24 2.29 2.35 2.29 2.35 2.40 2.40 2.62 2.61 2.63 2.64 2.64
Autodesk Inc. 20.25 20.54 19.36 17.99 17.17 16.49 15.26 13.47 14.18 13.38 12.78 13.33 12.81 13.07 13.36 13.55 14.79 16.23 16.05 16.36 15.78
Facebook Inc. 1.88 1.87 1.93 1.98 2.00 2.06 2.09 2.16 2.26 2.46 2.64 2.75 2.96 3.00 3.12 3.20 3.22
International Business Machines Corp. 7.53 7.78 7.95 7.71 7.66 7.63 7.37 7.38 7.34 7.33 7.10 7.12 7.09 7.19 7.31 7.38 7.22 7.24 7.41 7.62
Intuit Inc. 10.46 9.20 9.40 8.97 8.70 8.48 7.94 7.57 7.34 6.12 5.52 5.20 5.03 4.89 4.63 4.55 4.55 4.69 4.56 6.12 6.15
Microsoft Corp. 3.24 3.36 3.31 3.38 3.45 3.63 3.62 3.66 3.75 3.71 3.76 3.79 3.79 3.97 4.01 4.44 4.65 5.16 5.58 6.03 6.35
Oracle Corp. 6.26 6.36 6.31 6.31 6.32 6.39 6.63 6.73 6.75 6.69 6.63 6.86 7.10 7.38 7.63 9.05 9.26 9.26 9.72 9.77 10.37
salesforce.com inc. 7.20 6.70 6.45 6.25 6.48 6.27 5.95 5.69 5.38 5.32 5.03 4.80 4.69 4.50 4.32 4.13 3.89 3.62 3.46 3.26 4.77
ServiceNow Inc. 6.85 7.48 7.23 7.89 7.39 8.04 8.27 8.01 7.51 8.20 7.89 7.87 7.89 7.66 7.64 7.92 7.66

Based on: 10-K (filing date: 2021-01-15), 10-Q (filing date: 2020-09-23), 10-Q (filing date: 2020-06-24), 10-Q (filing date: 2020-03-25), 10-K (filing date: 2020-01-21), 10-Q (filing date: 2019-09-26), 10-Q (filing date: 2019-06-26), 10-Q (filing date: 2019-03-27), 10-K (filing date: 2019-01-25), 10-Q (filing date: 2018-09-26), 10-Q (filing date: 2018-06-27), 10-Q (filing date: 2018-03-28), 10-K (filing date: 2018-01-22), 10-Q (filing date: 2017-09-27), 10-Q (filing date: 2017-06-28), 10-Q (filing date: 2017-03-29), 10-K (filing date: 2017-01-20), 10-Q (filing date: 2016-09-27), 10-Q (filing date: 2016-06-29), 10-Q (filing date: 2016-03-30), 10-K (filing date: 2016-01-19), 10-Q (filing date: 2015-09-23), 10-Q (filing date: 2015-06-24), 10-Q (filing date: 2015-03-25).

1 Q4 2020 Calculation
Net fixed asset turnover = (RevenueQ4 2020 + RevenueQ3 2020 + RevenueQ2 2020 + RevenueQ1 2020) ÷ Property and equipment, net
= (3,424 + 3,225 + 3,128 + 3,091) ÷ 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 deteriorated from Q2 2020 to Q3 2020 but then slightly improved from Q3 2020 to Q4 2020.

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 (quarterly data)

Microsoft Excel LibreOffice Calc
Nov 27, 2020 Aug 28, 2020 May 29, 2020 Feb 28, 2020 Nov 29, 2019 Aug 30, 2019 May 31, 2019 Mar 1, 2019 Nov 30, 2018 Aug 31, 2018 Jun 1, 2018 Mar 2, 2018 Dec 1, 2017 Sep 1, 2017 Jun 2, 2017 Mar 3, 2017 Dec 2, 2016 Sep 2, 2016 Jun 3, 2016 Mar 4, 2016 Nov 27, 2015 Aug 28, 2015 May 29, 2015 Feb 27, 2015
Selected Financial Data (US$ in millions)
Revenue 3,424  3,225  3,128  3,091  2,992  2,834  2,744  2,601  2,465  2,291  2,195  2,079  2,007  1,841  1,772  1,682  1,608  1,464  1,399  1,383  1,306  1,218  1,162  1,109 
 
Property and equipment, net 1,517  1,467  1,387  1,340  1,293  1,244  1,205  1,104  1,075  1,019  993  992  937  940  924  822  816  812  796  795  787  797  785  784 
Operating lease right-of-use assets, net 487  507  489  504  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Property and equipment, net (including operating lease, right-of-use asset) 2,004  1,974  1,876  1,844  1,293  1,244  1,205  1,104  1,075  1,019  993  992  937  940  924  822  816  812  796  795  787  797  785  784 
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 6.42 6.30 6.42 6.32 8.64 8.56 8.38 8.65 8.40 8.41 8.18 7.76 7.79 7.35 7.06 7.49 7.17 6.84 6.67 6.38 6.09
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Alphabet Inc. 1.88 1.83 1.84 1.89 1.91 1.95 1.99 2.05 2.29 2.35 2.40 2.40 2.62 2.61 2.63 2.64 2.64
Autodesk Inc. 5.45 7.18 6.51 5.94 17.17 16.49 15.26 13.47 14.18 13.38 12.78 13.33 12.81 13.07 13.36 13.55 14.79 16.23 16.05 16.36 15.78
Facebook Inc. 1.56 1.53 1.55 1.58 1.58 1.64 1.68 1.73 2.26 2.46 2.64 2.75 2.96 3.00 3.12 3.20 3.22
International Business Machines Corp. 5.11 5.21 5.28 5.14 5.15 5.12 5.14 7.38 7.34 7.33 7.10 7.12 7.09 7.19 7.31 7.38 7.22 7.24 7.41 7.62
Intuit Inc. 8.00 7.11 6.76 6.42 8.70 8.48 7.94 7.57 7.34 6.12 5.52 5.20 5.03 4.89 4.63 4.55 4.55 4.69 4.56 6.12 6.15
Microsoft Corp. 2.70 2.79 2.74 2.80 2.87 3.00 3.00 3.01 3.05 2.98 2.99 2.97 3.79 3.97 4.01 4.44 4.65 5.16 5.58 6.03 6.35
salesforce.com inc. 3.16 2.87 2.84 2.75 6.48 6.27 5.95 5.69 5.38 5.32 5.03 4.80 4.69 4.50 4.32 4.13 3.89 3.62 3.46 3.26 4.77
ServiceNow Inc. 4.06 4.13 3.91 3.97 3.98 4.00 3.95 3.77 7.51 8.20 7.89 7.87 7.89 7.66 7.64 7.92 7.66

Based on: 10-K (filing date: 2021-01-15), 10-Q (filing date: 2020-09-23), 10-Q (filing date: 2020-06-24), 10-Q (filing date: 2020-03-25), 10-K (filing date: 2020-01-21), 10-Q (filing date: 2019-09-26), 10-Q (filing date: 2019-06-26), 10-Q (filing date: 2019-03-27), 10-K (filing date: 2019-01-25), 10-Q (filing date: 2018-09-26), 10-Q (filing date: 2018-06-27), 10-Q (filing date: 2018-03-28), 10-K (filing date: 2018-01-22), 10-Q (filing date: 2017-09-27), 10-Q (filing date: 2017-06-28), 10-Q (filing date: 2017-03-29), 10-K (filing date: 2017-01-20), 10-Q (filing date: 2016-09-27), 10-Q (filing date: 2016-06-29), 10-Q (filing date: 2016-03-30), 10-K (filing date: 2016-01-19), 10-Q (filing date: 2015-09-23), 10-Q (filing date: 2015-06-24), 10-Q (filing date: 2015-03-25).

1 Q4 2020 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = (RevenueQ4 2020 + RevenueQ3 2020 + RevenueQ2 2020 + RevenueQ1 2020) ÷ Property and equipment, net (including operating lease, right-of-use asset)
= (3,424 + 3,225 + 3,128 + 3,091) ÷ 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) deteriorated from Q2 2020 to Q3 2020 but then improved from Q3 2020 to Q4 2020 exceeding Q2 2020 level.

Total Asset Turnover

Adobe Inc., total asset turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Nov 27, 2020 Aug 28, 2020 May 29, 2020 Feb 28, 2020 Nov 29, 2019 Aug 30, 2019 May 31, 2019 Mar 1, 2019 Nov 30, 2018 Aug 31, 2018 Jun 1, 2018 Mar 2, 2018 Dec 1, 2017 Sep 1, 2017 Jun 2, 2017 Mar 3, 2017 Dec 2, 2016 Sep 2, 2016 Jun 3, 2016 Mar 4, 2016 Nov 27, 2015 Aug 28, 2015 May 29, 2015 Feb 27, 2015
Selected Financial Data (US$ in millions)
Revenue 3,424  3,225  3,128  3,091  2,992  2,834  2,744  2,601  2,465  2,291  2,195  2,079  2,007  1,841  1,772  1,682  1,608  1,464  1,399  1,383  1,306  1,218  1,162  1,109 
Total assets 24,284  22,414  21,603  21,214  20,762  20,055  19,666  19,506  18,769  15,396  15,163  14,973  14,536  13,907  13,365  13,045  12,707  12,367  12,217  11,897  11,726  11,508  11,165  11,008 
Long-term Activity Ratio
Total asset turnover1 0.53 0.55 0.56 0.55 0.54 0.53 0.51 0.49 0.48 0.56 0.54 0.51 0.50 0.50 0.49 0.47 0.46 0.45 0.43 0.43 0.41
Benchmarks
Total Asset Turnover, Competitors2
Alphabet Inc. 0.57 0.57 0.60 0.61 0.59 0.59 0.58 0.58 0.59 0.59 0.59 0.57 0.56 0.55 0.56 0.55 0.54
Autodesk Inc. 0.53 0.62 0.60 0.57 0.54 0.63 0.58 0.54 0.50 0.48 0.45 0.45 0.42 0.46 0.46 0.46 0.45 0.48 0.48 0.54 0.51
Facebook Inc. 0.54 0.54 0.54 0.53 0.53 0.53 0.54 0.54 0.57 0.56 0.54 0.50 0.48 0.46 0.45 0.44 0.43
International Business Machines Corp. 0.49 0.49 0.50 0.51 0.52 0.50 0.60 0.65 0.66 0.66 0.64 0.63 0.64 0.65 0.68 0.68 0.69 0.68 0.68 0.74
Intuit Inc. 0.70 0.88 1.06 1.12 1.08 0.98 1.21 1.24 1.15 1.01 1.11 1.30 1.27 1.02 1.11 1.21 1.10 0.94 1.03 1.12 0.84
Microsoft Corp. 0.47 0.49 0.47 0.47 0.44 0.46 0.46 0.45 0.43 0.42 0.39 0.38 0.37 0.39 0.38 0.40 0.44 0.48 0.49 0.52 0.53
Oracle Corp. 0.34 0.41 0.40 0.37 0.36 0.36 0.34 0.31 0.29 0.29 0.28 0.29 0.28 0.30 0.30 0.30 0.33 0.35 0.35 0.35 0.34
salesforce.com inc. 0.31 0.32 0.44 0.42 0.43 0.47 0.46 0.48 0.50 0.57 0.54 0.52 0.48 0.55 0.52 0.55 0.52 0.58 0.55 0.55 0.50
ServiceNow Inc. 0.52 0.55 0.61 0.60 0.57 0.68 0.65 0.64 0.67 0.68 0.65 0.57 0.57 0.58 0.56 0.69 0.68

Based on: 10-K (filing date: 2021-01-15), 10-Q (filing date: 2020-09-23), 10-Q (filing date: 2020-06-24), 10-Q (filing date: 2020-03-25), 10-K (filing date: 2020-01-21), 10-Q (filing date: 2019-09-26), 10-Q (filing date: 2019-06-26), 10-Q (filing date: 2019-03-27), 10-K (filing date: 2019-01-25), 10-Q (filing date: 2018-09-26), 10-Q (filing date: 2018-06-27), 10-Q (filing date: 2018-03-28), 10-K (filing date: 2018-01-22), 10-Q (filing date: 2017-09-27), 10-Q (filing date: 2017-06-28), 10-Q (filing date: 2017-03-29), 10-K (filing date: 2017-01-20), 10-Q (filing date: 2016-09-27), 10-Q (filing date: 2016-06-29), 10-Q (filing date: 2016-03-30), 10-K (filing date: 2016-01-19), 10-Q (filing date: 2015-09-23), 10-Q (filing date: 2015-06-24), 10-Q (filing date: 2015-03-25).

1 Q4 2020 Calculation
Total asset turnover = (RevenueQ4 2020 + RevenueQ3 2020 + RevenueQ2 2020 + RevenueQ1 2020) ÷ Total assets
= (3,424 + 3,225 + 3,128 + 3,091) ÷ 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 deteriorated from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.

Equity Turnover

Adobe Inc., equity turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Nov 27, 2020 Aug 28, 2020 May 29, 2020 Feb 28, 2020 Nov 29, 2019 Aug 30, 2019 May 31, 2019 Mar 1, 2019 Nov 30, 2018 Aug 31, 2018 Jun 1, 2018 Mar 2, 2018 Dec 1, 2017 Sep 1, 2017 Jun 2, 2017 Mar 3, 2017 Dec 2, 2016 Sep 2, 2016 Jun 3, 2016 Mar 4, 2016 Nov 27, 2015 Aug 28, 2015 May 29, 2015 Feb 27, 2015
Selected Financial Data (US$ in millions)
Revenue 3,424  3,225  3,128  3,091  2,992  2,834  2,744  2,601  2,465  2,291  2,195  2,079  2,007  1,841  1,772  1,682  1,608  1,464  1,399  1,383  1,306  1,218  1,162  1,109 
Stockholders’ equity 13,264  11,713  10,881  10,465  10,530  10,243  9,932  9,871  9,362  8,862  8,706  8,634  8,460  8,170  7,804  7,589  7,425  7,278  7,249  7,081  7,002  6,841  6,610  6,589 
Long-term Activity Ratio
Equity turnover1 0.97 1.06 1.11 1.11 1.06 1.04 1.02 0.97 0.96 0.97 0.93 0.89 0.86 0.84 0.84 0.81 0.79 0.76 0.73 0.72 0.68
Benchmarks
Equity Turnover, Competitors2
Alphabet Inc. 0.82 0.81 0.80 0.82 0.80 0.80 0.77 0.77 0.77 0.76 0.76 0.73 0.73 0.67 0.67 0.65 0.65
Autodesk Inc. 18.47 6.20 3.95 2.77 2.07 1.74 1.65 1.55 1.45 1.33 1.15 1.13
Facebook Inc. 0.67 0.67 0.68 0.70 0.70 0.71 0.71 0.68 0.66 0.65 0.61 0.57 0.55 0.51 0.50 0.49 0.47
International Business Machines Corp. 3.54 3.67 3.83 3.70 4.30 4.41 4.78 4.74 4.06 4.36 4.41 4.50 3.99 4.26 4.33 4.38 4.72 5.10 5.42 5.73
Intuit Inc. 1.50 1.45 1.91 1.91 1.81 1.67 2.30 2.19 2.53 2.46 4.70 4.39 3.82 3.00 6.18 5.08 4.04 3.71 6.97 4.08 1.80
Microsoft Corp. 1.21 1.21 1.22 1.22 1.23 1.29 1.29 1.34 1.33 1.31 1.26 1.05 1.24 1.25 1.25 1.21 1.19 1.16 1.15 1.17 1.17
Oracle Corp. 3.24 2.79 2.54 2.14 1.81 1.67 1.30 1.05 0.87 0.83 0.70 0.68 0.70 0.74 0.77 0.78 0.78 0.81 0.82 0.81 0.79
salesforce.com inc. 0.50 0.48 0.86 0.85 0.85 0.85 0.87 1.00 1.12 1.12 1.11 1.12 1.12 1.16 1.22 1.27 1.33 1.33 1.32 1.34 1.35
ServiceNow Inc. 1.59 1.58 1.60 1.64 1.63 2.26 2.39 2.35 2.35 2.39 2.54 2.43 3.31 3.21 3.38 3.51 3.59

Based on: 10-K (filing date: 2021-01-15), 10-Q (filing date: 2020-09-23), 10-Q (filing date: 2020-06-24), 10-Q (filing date: 2020-03-25), 10-K (filing date: 2020-01-21), 10-Q (filing date: 2019-09-26), 10-Q (filing date: 2019-06-26), 10-Q (filing date: 2019-03-27), 10-K (filing date: 2019-01-25), 10-Q (filing date: 2018-09-26), 10-Q (filing date: 2018-06-27), 10-Q (filing date: 2018-03-28), 10-K (filing date: 2018-01-22), 10-Q (filing date: 2017-09-27), 10-Q (filing date: 2017-06-28), 10-Q (filing date: 2017-03-29), 10-K (filing date: 2017-01-20), 10-Q (filing date: 2016-09-27), 10-Q (filing date: 2016-06-29), 10-Q (filing date: 2016-03-30), 10-K (filing date: 2016-01-19), 10-Q (filing date: 2015-09-23), 10-Q (filing date: 2015-06-24), 10-Q (filing date: 2015-03-25).

1 Q4 2020 Calculation
Equity turnover = (RevenueQ4 2020 + RevenueQ3 2020 + RevenueQ2 2020 + RevenueQ1 2020) ÷ Stockholders’ equity
= (3,424 + 3,225 + 3,128 + 3,091) ÷ 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 deteriorated from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.