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Adobe ADBE Net debt

Discontinued — last reported Q2 '26

Net debt at other companies

Cloudflare, Inc. logo
Cloudflare, Inc.NET
-5×-5.4×
Zscaler logo
ZscalerZS
19.2×+12.3×
Citigroup logo
CitigroupC
0.1×-0.3×
Morgan Stanley logo
Morgan StanleyMS
-0.2×
Wells Fargo & Company logo
Wells Fargo & CompanyWFC
0.6×-1.3×
American Express logo
American ExpressAXP
0.3×+0.3×

Other financials

Income statement

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Revenue$6.6B+12.7%
Gross profit$5.9B+12.8%
Operating income$2.2B+6.1%
Net income$1.7B+1.2%
EPS (diluted)$4.25+7.9%

Balance sheet

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Cash & equivalents$4.9B-0.2%
Total debt$7.1B+7.6%
Total equity$11.5B+0.6%
Total assets$29.9B+6.5%

Cash flow

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Operating cash flow$2.2B-1.2%
CapEx$58.0M+23.4%
Free cash flow$2.1B-1.7%

Valuation

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Market cap$99.54B-30.8%
Enterprise value$101.68B-30.1%
P/E13.8×-7.2×
P/S-2.4×

Profitability

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Gross margin89.4%+0.2pp
Operating margin36.1%-0.3pp
Net margin28.7%-1.7pp
FCF margin40.8%-1.0pp

Returns & leverage

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Return on equity63%+10.7pp
Debt / equity0.6×0.0×
Current ratio0.8×-0.2×

Where this comes from

Calculated from Adobe’s reported figures.

The source filing: Adobe’s 10-Q, filed June 15, 2026. Open the filing →

Filed
Jun 15, 2026, 6:04 AM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0000796343-26-000112

FAQ

What is Adobe's net debt?
Adobe (ADBE) reported net debt of $2.15B in Q1 2026.
How has Adobe's net debt changed year-over-year?
Adobe's net debt increased by 31.5% year-over-year, from $1.63B to $2.15B.
What is the long-term trend for Adobe's net debt?
Over 5 years (2020 to 2025), Adobe's net debt has grown at a 39.5% compound annual growth rate (CAGR), from $230M to $1.22B.
What does net debt mean?
Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

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