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%+0.2pp	89.4%+0.2pp	89.3%+0.2pp	89.1%+0.5pp	89.2%+1.0pp
Operating margin	36.1%-0.3pp	36.6%+0.4pp	36.6%+5.3pp	36.2%+5.1pp	36.4%+5.9pp
Net margin	28.7%-1.7pp	29.5%-1.2pp	30%+4.1pp	30%+4.4pp	30.4%+5.5pp
EBITDA margin	39.1%-1.1pp	39.8%-0.4pp	40.1%+4.7pp	39.9%+4.7pp	40.2%+5.4pp
Free cash flow margin	40.8%-1.0pp	42.2%+0.5pp	41.4%+4.8pp	41.4%+10.1pp	41.8%+10.6pp
Returns
Return on equity	63%+10.7pp	58.8%+11.5pp	55.4%+19.1pp	52.9%+17.5pp	52.3%+18.0pp
Return on assets	24.9%+1.3pp	24.2%+1.2pp	23.9%+5.3pp	23.8%+5.6pp	23.6%+6.1pp
Return on invested capital	53.9%+2.4pp	58.4%+7.8pp	56%+14.4pp	51.5%+12.6pp	51.5%+14.9pp
Efficiency
Asset turnover	0.9×+0.1×	0.8×+0.1×	0.8×+0.1×	0.8×+0.1×	0.8×+0.1×
Liquidity
Current ratio	0.8×-0.2×	0.9×-0.3×	1×-0.1×	1×-0.1×	1×-0.2×
Quick ratio	0.8×-0.2×	0.9×-0.3×	1×-0.1×	1×-0.1×	1×-0.2×
Cash ratio	0.4×-0.1×	0.6×-0.2×	0.5×-0.2×	0.5×-0.2×	0.5×-0.3×
Leverage
Debt-to-equity	0.6×0.0×	0.6×+0.1×	0.6×+0.1×	0.6×+0.1×	0.6×+0.2×
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	0.2×0.0×	0×+0.1×	0.1×+0.3×	0.2×+0.3×	0.2×+0.4×
Interest coverage	34.8×-0.8×	33.9×-5.3×	33.1×-6.8×	34×-10.4×	35.6×-15.1×
Per Share
Book value per share	$28.62+7.2%	$27.83-7.0%	$27.22-13.2%	$27.75-14.6%	$26.69-18.8%
Valuation
Market capitalization	$104.77B-40.5%	$107.72B-43.6%	$134.01B-41.0%	$151.31B-40.6%	$176.06B-11.6%
Enterprise value	$106.92B-39.8%	$108.04B-43.3%	$135.22B-40.0%	$152.97B-39.7%	$177.7B-10.1%
Price / earnings	14.5×-11.1×	14.9×-13.3×	18.8×-22.1×	21.7×-25.8×	25.6×-13.6×
Price / sales	4.2×-3.6×	4.4×-4.3×	5.6×-4.9×	6.5×-5.6×	7.8×-2.0×
Price / book	9.1×-6.3×	9.4×-5.2×	11.5×-4.6×	12.9×-4.7×	15.4×+2.0×
EV / EBITDA	10.9×-8.7×	11.1×-10.4×	14.2×-15.5×	16.5×-17.8×	19.6×-8.3×
EV / sales	4.2×-3.6×	4.4×-4.2×	5.7×-4.8×	6.6×-5.5×	7.9×-1.8×
Free cash flow yield	9.8%+4.5pp	9.6%+4.8pp	7.4%+3.9pp	6.3%+3.8pp	5.4%+2.2pp
Earnings yield	6.9%+3.0pp	6.7%+3.2pp	5.3%+2.9pp	4.6%+2.5pp	3.9%+1.4pp
PEG ratio	2.8×+2.0×	2.2×+1.5×	0.7×-16.1×	0.7×-9.5×	0.7×-7.7×

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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.