Adobe (ADBE) FY2024 results: revenue $21.5 billion, up 10.8% on the year
Adobe Inc. (ADBE) reported revenue of $21.5 billion for fiscal 2024, the year ended 29 November 2024, up 10.8% on the year before. Net income was $5.6 billion, up 2.4%, and diluted earnings per share $12.36. The figures are the company's own, from the 10-K it filed with the SEC on 13 January 2025.
Revenue
$21.5 billion
+10.8% on the year
FY2017FY2024
Operating margin
31.3%
34.3% a year earlier
FY2017FY2024
Net income
$5.6 billion
+2.4% on the year
FY2017FY2024
Diluted EPS
$12.36
+4.6% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
8,056
7,302
7,838
+10.3%
Capital expenditure
183
360
442
-49.2%
Free cash flow
7,873
6,942
7,396
+13.4%
Free cash flow margin
36.6%
35.8%
42.0%
Cash from investing
149
776
-570
-80.8%
Cash from financing
-7,724
-5,182
-6,825
Depreciation and amortisation
857
872
856
-1.7%
Share-based compensation
1,833
1,718
1,440
+6.7%
Buybacks
9,500
4,400
6,550
+115.9%
Diluted shares, weighted
450m
459m
471m
-2.0%
Shares outstanding at period end
441m
455m
462m
-3.1%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
14,105
16,518
14,051
-14.6%
Debt
5,628
3,634
4,129
+54.9%
Operating lease liabilities
353
373
417
-5.4%
Other liabilities
10,144
9,254
8,568
+9.6%
Total liabilities and equity
30,230
29,779
27,165
+1.5%
Fixed assets
1,936
2,030
1,908
-4.6%
Goodwill
12,788
12,805
12,787
-0.1%
Intangible assets
782
1,088
1,449
-28.1%
Investments
273
701
1,860
-61.1%
Cash and equivalents
7,613
7,141
4,236
+6.6%
Receivables
2,072
2,224
2,065
-6.8%
Other assets
4,766
3,790
2,860
+25.8%
Total assets
30,230
29,779
27,165
+1.5%
10-K for the year ended 29 November 2024, filed 13 January 2025: the filing.