What are Adobe's profit margins?

Adobe (ADBE) runs a 89.4% gross margin and a 36.1% operating margin, with a 28.7% net margin.

Where do Adobe's ratios come from?

Every ratio is computed from Adobe's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Adobe ADBE Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q2 '26	Q1 '26	Q4 '25	Q3 '25	Q2 '25
Profitability
Gross margin	89.4%0.0pp	89.4%+0.1pp	89.3%+0.1pp	89.1%-0.1pp	89.2%+0.1pp
Operating margin	36.1%-0.6pp	36.6%0.0pp	36.6%+0.4pp	36.2%-0.1pp	36.4%+0.1pp
Net margin	28.7%-0.8pp	29.5%-0.5pp	30%0.0pp	30%-0.4pp	30.4%-0.2pp
EBITDA margin	39.1%-0.7pp	39.8%-0.3pp	40.1%+0.1pp	39.9%-0.2pp	40.2%0.0pp
Free cash flow margin	40.8%-1.4pp	42.2%+0.7pp	41.4%0.0pp	41.4%-0.3pp	41.8%0.0pp
Returns
Return on equity	63%+4.2pp	58.8%+3.3pp	55.4%+2.6pp	52.9%+0.6pp	52.3%+5.0pp
Return on assets	24.9%+0.7pp	24.2%+0.3pp	23.9%+0.1pp	23.8%+0.1pp	23.6%+0.6pp
Return on invested capital	53.9%-4.4pp	58.4%+2.4pp	56%+4.5pp	51.5%-0.1pp	51.5%+0.9pp
Efficiency
Asset turnover	0.9×0.0×	0.8×0.0×	0.8×0.0×	0.8×0.0×	0.8×0.0×
Liquidity
Current ratio	0.8×-0.2×	0.9×-0.1×	1×0.0×	1×0.0×	1×-0.2×
Quick ratio	0.8×-0.2×	0.9×-0.1×	1×0.0×	1×0.0×	1×-0.2×
Cash ratio	0.4×-0.1×	0.6×0.0×	0.5×0.0×	0.5×0.0×	0.5×-0.2×
Leverage
Debt-to-equity	0.6×0.0×	0.6×0.0×	0.6×0.0×	0.6×0.0×	0.6×+0.1×
Debt-to-assets	0.2×0.0×	0.2×0.0×	0.2×0.0×	0.2×0.0×	0.2×0.0×
Net debt / EBITDA	0.2×+0.2×	0×-0.1×	0.1×-0.1×	0.2×0.0×	0.2×+0.2×
Interest coverage	34.8×+0.9×	33.9×+0.8×	33.1×-0.9×	34×-1.6×	35.6×-3.6×
Per Share
Book value per share	$28.62+2.8%	$27.83+2.2%	$27.22-1.9%	$27.75+4.0%	$26.69-10.8%
Valuation
Market capitalization	$104.77B-2.7%	$107.72B-19.6%	$134.01B-11.4%	$151.31B-14.1%	$176.06B-7.8%
Enterprise value	$106.92B-1.0%	$108.04B-20.1%	$135.22B-11.6%	$152.97B-13.9%	$177.7B-6.8%
Price / earnings	14.5×-0.5×	14.9×-3.9×	18.8×-3.0×	21.7×-3.9×	25.6×-2.6×
Price / sales	4.2×-0.2×	4.4×-1.2×	5.6×-0.9×	6.5×-1.3×	7.8×-0.9×
Price / book	9.1×-0.3×	9.4×-2.1×	11.5×-1.3×	12.9×-2.5×	15.4×+0.8×
EV / EBITDA	10.9×-0.2×	11.1×-3.1×	14.2×-2.3×	16.5×-3.0×	19.6×-2.0×
EV / sales	4.2×-0.2×	4.4×-1.3×	5.7×-0.9×	6.6×-1.3×	7.9×-0.8×
Free cash flow yield	9.8%+0.2pp	9.6%+2.2pp	7.4%+1.0pp	6.3%+1.0pp	5.4%+0.5pp
Earnings yield	6.9%+0.2pp	6.7%+1.4pp	5.3%+0.7pp	4.6%+0.7pp	3.9%+0.4pp
PEG ratio	2.8×+0.6×	2.2×+1.5×	0.7×-0.1×	0.7×0.0×	0.7×0.0×

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Questions, answered.

What are Adobe's profit margins?: Adobe (ADBE) runs a 89.4% gross margin and a 36.1% operating margin, with a 28.7% net margin.
Where do Adobe's ratios come from?: Every ratio is computed from Adobe's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.