Adobe (ADBE) FY2012 results: revenue $4.4 billion, up 4.4% on the year
Adobe Inc. (ADBE) reported revenue of $4.4 billion for fiscal 2012, the year ended 30 November 2012, up 4.4% on the year before. Net income was $833 million, unchanged, and diluted earnings per share $1.66. The figures are the company's own, from the 10-K it filed with the SEC on 22 January 2013.
Revenue
$4.4 billion
+4.4% on the year
FY2007FY2012
Operating margin
26.8%
26.1% a year earlier
FY2007FY2012
Net income
$833 million
-0.0% on the year
FY2007FY2012
Diluted EPS
$1.66
+0.6% on the year
FY2007FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
4,404
4,216
3,800
+4.4%
Cost of revenue
484
438
404
+10.5%
Gross profit
3,920
3,778
3,396
+3.7%
Gross margin
89.0%
89.6%
89.4%
Operating income
1,180
1,099
993
+7.4%
Operating margin
26.8%
26.1%
26.1%
Interest expense
67.5
67.0
57.0
+0.8%
Pre-tax income
1,119
1,035
943
+8.1%
Income tax
286
202
168
+41.3%
Effective tax rate
25.6%
19.5%
17.9%
Net income
833
833
775
-0.0%
Net margin
18.9%
19.8%
20.4%
Diluted EPS
$1.66
$1.65
$1.47
+0.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
1,500
1,543
1,113
-2.8%
Capital expenditure
271
210
170
+28.9%
Free cash flow
1,229
1,333
943
-7.8%
Free cash flow margin
27.9%
31.6%
24.8%
Cash from investing
-835
-757
-1,159
Cash from financing
-235
-550
-215
Depreciation and amortisation
300
270
293
+10.9%
Share-based compensation
299
286
231
+4.3%
Buybacks
405
695
850
-41.7%
Diluted shares, weighted
503m
504m
526m
-0.2%
Shares outstanding at period end
494m
492m
502m
+0.5%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
6,665
5,783
5,192
+15.3%
Debt
1,497
1,505
1,514
-0.5%
Other liabilities
1,878
1,703
1,435
+10.3%
Total liabilities and equity
10,040
8,991
8,141
+11.7%
Fixed assets
664
528
449
+25.9%
Goodwill
4,133
3,849
3,642
+7.4%
Intangible assets
545
546
529
-0.1%
Investments
2,113
1,922
1,718
+9.9%
Cash and equivalents
1,425
990
750
+44.0%
Receivables
617
634
554
-2.7%
Other assets
542
523
499
+3.7%
Total assets
10,040
8,991
8,141
+11.7%
10-K for the year ended 30 November 2012, filed 22 January 2013: the filing.