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

	TTM Q2 '26	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25	TTM Q2 '25
Profitability
Gross margin	357.2%+1.1pp	357%+2.0pp	356.8%+2.8pp	356.6%+3.7pp	356.1%+4.0pp
Operating margin	145.6%+10.4pp	145.9%+16.6pp	145.5%+22.6pp	140.3%+14.4pp	135.2%+6.5pp
Net margin	118.2%+5.7pp	119.9%+12.9pp	121%+20.6pp	116.9%+14.4pp	112.5%+8.4pp
EBITDA margin	158.9%+7.9pp	160%+14.4pp	160.4%+20.7pp	155.6%+12.5pp	151%+4.6pp
Free cash flow margin	165.8%+14.5pp	166.8%+26.0pp	166.3%+34.7pp	161.5%+30.7pp	151.3%+11.5pp
Returns
Return on equity	230%+58.8pp	219.3%+66.2pp	207.8%+69.6pp	188.7%+51.3pp	171.2%+35.1pp
Return on assets	96.7%+13.3pp	95.4%+18.1pp	94.3%+22.7pp	88.9%+16.8pp	83.4%+11.1pp
Return on invested capital	219.8%+37.2pp	217.4%+49.6pp	209.6%+58.8pp	195.2%+47.9pp	182.6%+38.6pp
Efficiency
Asset turnover	3.3×+0.3×	3.2×+0.3×	3.1×+0.3×	3×+0.2×	3×+0.2×
Liquidity
Current ratio	3.7×-0.7×	3.9×-0.6×	4.2×-0.2×	4.3×-0.4×	4.4×-0.4×
Quick ratio	3.7×-0.7×	3.9×-0.6×	4.2×-0.2×	4.3×-0.4×	4.4×-0.4×
Cash ratio	2×-0.7×	2.2×-0.8×	2.4×-0.6×	2.5×-0.5×	2.8×-0.4×
Leverage
Debt-to-equity	2.3×+0.4×	2.3×+0.5×	2.2×+0.7×	2.1×+0.7×	1.9×+0.7×
Debt-to-assets	0.9×+0.1×	0.9×+0.1×	0.9×+0.2×	0.9×+0.2×	0.9×+0.2×
Net debt / EBITDA	0.6×+0.8×	0.5×+1.1×	0.5×+1.4×	0.1×+1.2×	-0.2×+1.1×
Interest coverage	135.9×-23.2×	136.7×-37.5×	141.9×-48.3×	148.7×-60.5×	159.1×-62.5×
Per Share
Book value per share	$111.42-7.5%	$109.50-13.6%	$111.59-14.6%	$115.73-14.4%	$120.48-12.1%
Valuation
Market capitalization	$497.81B-41.3%	$569.1B-34.7%	$652.29B-30.2%	$745.4B-24.4%	$848.78B-13.9%
Enterprise value	$503.15B-40.6%	$573.93B-33.8%	$656.6B-29.2%	$746.93B-23.6%	$847.54B-13.2%
Price / earnings	70×-72.3×	81.1×-74.8×	94.5×-85.9×	116.5×-74.2×	142.3×-50.7×
Price / sales	20.7×-18.4×	24.4×-16.8×	28.6×-16.6×	33.5×-15.4×	39.2×-11.1×
Price / book	42.9×-20.7×	49.2×-12.4×	54.3×-9.1×	58.9×-5.2×	63.6×+0.8×
EV / EBITDA	52.7×-52.4×	61.4×-52.0×	71.8×-56.7×	87.3×-48.1×	105.1×-30.7×
EV / sales	20.9×-18.2×	24.6×-16.4×	28.8×-16.1×	33.6×-14.9×	39.1×-10.7×
Free cash flow yield	33.1%+16.9pp	28.6%+14.6pp	23.9%+12.1pp	20%+9.2pp	16.2%+5.0pp
Earnings yield	23.5%+11.5pp	20.5%+9.9pp	17.4%+8.4pp	14.5%+6.0pp	12%+3.6pp
PEG ratio	6.4×-22.0×	4.3×-31.8×	2.8×-71.7×	19×-42.4×	28.4×-30.5×

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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.