Adobe (ADBE) FY2016 results: revenue $5.9 billion, up 22.1% on the year
Adobe Inc. (ADBE) reported revenue of $5.9 billion for fiscal 2016, the year ended 2 December 2016, up 22.1% on the year before. Net income was $1.2 billion, up 85.7%, and diluted earnings per share $2.32. The figures are the company's own, from the 10-K it filed with the SEC on 20 January 2017.
Revenue
$5.9 billion
+22.1% on the year
FY2009FY2016
Operating margin
25.5%
18.8% a year earlier
FY2009FY2016
Net income
$1.2 billion
+85.7% on the year
FY2009FY2016
Diluted EPS
$2.32
+87.1% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
5,854
4,796
4,147
+22.1%
Cost of revenue
820
744
622
+10.2%
Gross profit
5,035
4,051
3,525
+24.3%
Gross margin
86.0%
84.5%
85.0%
Operating income
1,494
903
413
+65.4%
Operating margin
25.5%
18.8%
10.0%
Interest expense
70.4
64.2
59.7
+9.8%
Pre-tax income
1,435
874
361
+64.2%
Income tax
266
244
93.0
+9.1%
Effective tax rate
18.6%
28.0%
25.7%
Net income
1,169
630
268
+85.7%
Net margin
20.0%
13.1%
6.5%
Diluted EPS
$2.32
$1.24
$0.53
+87.1%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
2,200
1,470
1,287
+49.7%
Capital expenditure
204
185
148
+10.2%
Free cash flow
1,996
1,285
1,139
+55.4%
Free cash flow margin
34.1%
26.8%
27.5%
Cash from investing
-960
-1,488
-491
Cash from financing
-1,091
-201
-507
Depreciation and amortisation
332
339
314
-2.3%
Share-based compensation
350
336
334
+4.2%
Buybacks
1,075
625
600
+72.0%
Diluted shares, weighted
504m
507m
508m
-0.6%
Shares outstanding at period end
494m
498m
497m
-0.7%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
7,425
7,002
6,776
+6.0%
Debt
1,892
1,907
1,514
-0.8%
Other liabilities
3,390
2,818
2,496
+20.3%
Total liabilities and equity
12,707
11,726
10,786
+8.4%
Fixed assets
816
787
785
+3.7%
Goodwill
5,406
5,367
4,722
+0.7%
Intangible assets
414
510
470
-18.7%
Investments
3,750
3,112
2,622
+20.5%
Cash and equivalents
1,011
877
1,117
+15.4%
Receivables
833
672
592
+24.0%
Other assets
476
402
478
+18.3%
Total assets
12,707
11,726
10,786
+8.4%
10-K for the year ended 2 December 2016, filed 20 January 2017: the filing.