Adobe (ADBE) FY2022 results: revenue $17.6 billion, up 11.5% on the year
Adobe Inc. (ADBE) reported revenue of $17.6 billion for fiscal 2022, the year ended 2 December 2022, up 11.5% on the year before. Net income was $4.8 billion, down 1.4%, and diluted earnings per share $10.10. The figures are the company's own, from the 10-K it filed with the SEC on 17 January 2023.
Revenue
$17.6 billion
+11.5% on the year
FY2015FY2022
Operating margin
34.6%
36.8% a year earlier
FY2015FY2022
Net income
$4.8 billion
-1.4% on the year
FY2015FY2022
Diluted EPS
$10.10
+0.8% on the year
FY2015FY2022
this yearthe year beforeHover a bar for its figure.
$ 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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
7,838
7,230
5,727
+8.4%
Capital expenditure
442
348
419
+27.0%
Free cash flow
7,396
6,882
5,308
+7.5%
Free cash flow margin
42.0%
43.6%
41.2%
Cash from investing
-570
-3,537
-414
Cash from financing
-6,825
-4,301
-3,488
Depreciation and amortisation
856
788
757
+8.6%
Share-based compensation
1,440
1,069
909
+34.7%
Buybacks
6,550
3,950
3,050
+65.8%
Diluted shares, weighted
471m
481m
486m
-2.1%
Shares outstanding at period end
462m
475m
479m
-2.7%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
14,051
14,797
13,264
-5.0%
Debt
4,129
4,123
4,117
+0.1%
Operating lease liabilities
417
453
499
-7.9%
Other liabilities
8,568
7,868
6,404
+8.9%
Total liabilities and equity
27,165
27,241
24,284
-0.3%
Fixed assets
1,908
1,673
1,517
+14.0%
Goodwill
12,787
12,668
10,742
+0.9%
Intangible assets
1,449
1,820
1,359
-20.4%
Investments
1,860
1,954
1,514
-4.8%
Cash and equivalents
4,236
3,844
4,478
+10.2%
Receivables
2,065
1,878
1,398
+10.0%
Other assets
2,860
3,404
3,276
-16.0%
Total assets
27,165
27,241
24,284
-0.3%
10-K for the year ended 2 December 2022, filed 17 January 2023: the filing.