Income Statement Research
Review the full annual statement in one scroll, from headline results to detailed SEC line items, margin conversion, and growth diagnostics.
Snapshot
ADOBE INC.'s top line, gross profit, operating income, and bottom-line conversion. Values in USD millions.
Revenue
+10.8%Compound growth, FY2021 to FY2025
Gross profit
+11.1%Compound growth, FY2021 to FY2025
Operating Income
+10.7%Compound growth, FY2021 to FY2025
Net income
+10.3%Compound growth, FY2021 to FY2025
Headline results
Four lines, five fiscal years, straight from the filings.
ADOBE INC. headline income statement — FY2025
Trend
The same four lines drawn across the window.
All values shown in USD millions unless noted otherwise.
Line items
The full annual income statement layer for ADOBE INC., from revenue down to share counts.
Statement basis
USD millions, except per-share and share-count rows.
ADOBE INC. expanded income statement — FY2025
Expanded annual statement lines sourced from the SEC EDGAR database for ADOBE INC..
Margins
How much of ADOBE INC.'s revenue survives through gross profit, operating income, and net income.
Gross margin
+108 bpsFY2025, versus FY2021
Operating Margin
-13 bpsFY2025, versus FY2021
Net income margin
-55 bpsFY2025, versus FY2021
Observation window
yearsFY2021 through FY2025
Margin table
Side-by-side read of gross, operating and net margin.
Margin trend
The shape of profitability across the window.
Margins are calculated from annual SEC facts using reported revenue as the denominator.
Year on year
Every headline line of ADOBE INC.'s statement measured against the immediately prior period.
Revenue YoY
FY2024FY2025 versus FY2024
Gross profit YoY
FY2024FY2025 versus FY2024
Op. income YoY
FY2024FY2025 versus FY2024
Net income YoY
FY2024FY2025 versus FY2024
Year-on-year table
Contractions are tinted so slowdowns are obvious.
ADOBE INC. year-on-year change — FY2025
Momentum
Whether the business is accelerating or rolling over.
Year-on-year change compares each annual period against the immediately prior year inside the selected window.
Compound growth
Compounded annual growth from FY2021 to FY2025, which filters out one-year noise.
Revenue CAGR
4yrFY2021 to FY2025
Gross profit CAGR
4yrFY2021 to FY2025
Op. income CAGR
4yrFY2021 to FY2025
Net income CAGR
4yrFY2021 to FY2025
Compound rates use the first and last reported year in the window, so a gap in either endpoint suppresses the figure.
Commentary
A written read of the filing-backed figures above. The statement itself remains the source of truth.
This explanation uses an earlier data snapshot or evidence version. Compare its generation date with the current filing figures.
Adobe Inc.’s financial performance over the last five years shows consistent growth across key income statement metrics. Revenue increased steadily from USD 15,785 million in 2021 to USD 23,769 million in 2025, reflecting an average annual growth rate of approximately 10–11% until 2024. The gross profit trend mirrors this increase, rising from USD 13,920 million in 2021 to USD 21,218 million in 2025, indicating effective cost management and solid margin preservation in Adobe’s high-margin software business. Operating income also followed a gradual upward trend, growing from USD 5,802 million in 2021 to USD 6,741 million in 2024, before a significant jump to USD 8,706 million in 2025. Net income shows a similar pattern, with a modest dip in 2022 followed by recovery and notable gains, reaching USD 7,130 million in 2025 after rising steadily since 2023. The marked performance improvement from 2024 to 2025—for both operating income (nearly a 29% increase) and net income (roughly a 28% increase)—stands out against the backdrop of steady annual growth. This significant swing could be indicative of operational enhancements, efficient cost structures, or favorable market conditions that allowed Adobe to further capitalize on its strong software licensing and subscription model. Overall, the company’s disciplined revenue growth, robust profit margins, and effective cost management underscore a healthy financial profile, positioning Adobe well within the competitive tech and digital media industry. These trends suggest sustainable financial performance, with the 2025 breakout year reinforcing its ability to deliver strong earnings growth amid evolving market dynamics.
This analysis is for informational purposes only and does not constitute financial advice or a recommendation for any investment decision. Please consult a qualified financial professional for personalised guidance.
