Adobe (ADBE) FY2015 results: revenue $4.8 billion, up 15.6% on the year
Adobe Inc. (ADBE) reported revenue of $4.8 billion for fiscal 2015, the year ended 27 November 2015, up 15.6% on the year before. Net income was $630 million, up 134.6%, and diluted earnings per share $1.24. The figures are the company's own, from the 10-K it filed with the SEC on 19 January 2016.
Revenue
$4.8 billion
+15.6% on the year
FY2008FY2015
Operating margin
18.8%
10.0% a year earlier
FY2008FY2015
Net income
$630 million
+134.6% on the year
FY2008FY2015
Diluted EPS
$1.24
+134.0% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
4,796
4,147
4,055
+15.6%
Cost of revenue
744
622
587
+19.6%
Gross profit
4,051
3,525
3,469
+14.9%
Gross margin
84.5%
85.0%
85.5%
Operating income
903
413
423
+118.8%
Operating margin
18.8%
10.0%
10.4%
Interest expense
64.2
59.7
67.5
+7.5%
Pre-tax income
874
361
356
+141.8%
Income tax
244
93.0
66.2
+162.7%
Effective tax rate
28.0%
25.7%
18.6%
Net income
630
268
290
+134.6%
Net margin
13.1%
6.5%
7.2%
Diluted EPS
$1.24
$0.53
$0.56
+134.0%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
1,470
1,287
1,152
+14.1%
Capital expenditure
185
148
188
+24.7%
Free cash flow
1,285
1,139
963
+12.8%
Free cash flow margin
26.8%
27.5%
23.8%
Cash from investing
-1,488
-491
-1,178
Cash from financing
-201
-507
-559
Depreciation and amortisation
339
314
321
+8.3%
Share-based compensation
336
334
329
+0.6%
Buybacks
625
600
1,100
+4.2%
Diluted shares, weighted
507m
508m
513m
-0.3%
Shares outstanding at period end
498m
497m
496m
+0.1%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
7,002
6,776
6,725
+3.3%
Debt
1,907
1,514
1,514
+25.9%
Other liabilities
2,818
2,496
2,142
+12.9%
Total liabilities and equity
11,726
10,786
10,380
+8.7%
Fixed assets
787
785
660
+0.3%
Goodwill
5,367
4,722
4,772
+13.7%
Intangible assets
510
470
605
+8.6%
Investments
3,112
2,622
2,339
+18.7%
Cash and equivalents
877
1,117
835
-21.6%
Receivables
672
592
600
+13.6%
Other assets
402
478
570
-15.8%
Total assets
11,726
10,786
10,380
+8.7%
10-K for the year ended 27 November 2015, filed 19 January 2016: the filing.