ADOBE INC. (ADBE) closed fiscal year 2025 with a gross margin of 89.3 % and a net margin of 30.0 %.
ADOBE INC. (ADBE) closed fiscal year 2025 with a gross margin of 89.3 % and a net margin of 30.0 %. The same year shows an EBITDA margin of 40.1 % and an EBIT margin of 36.6 %. The free cash flow margin was 41.4 %. Against the previous year the gross margin moved +0.2 pp and the net margin +4.1 pp. Across the period the gross margin ranges between 84.5 % in 2015 and 89.9 % in 2009. The series covers 19 fiscal years, from 2007 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: November
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | 88.77 % | 89.87 % | 89.93 % | 89.38 % | 89.61 % | 89.01 % | 85.54 % | 85.00 % | 84.48 % | 86.00 % | 86.16 % | 86.77 % | 85.02 % | 86.62 % | 88.18 % | 87.70 % | 87.87 % | 89.04 % | 89.27 % |
| EBITDA margin (%) | 37.15 % | 36.27 % | 33.03 % | 33.84 % | 32.48 % | 33.61 % | 18.35 % | 17.51 % | 25.91 % | 31.18 % | 34.16 % | 35.28 % | 36.03 % | 38.81 % | 41.75 % | 39.50 % | 38.76 % | 35.33 % | 40.07 % |
| EBIT margin (%) | 27.16 % | 28.72 % | 23.44 % | 26.13 % | 26.07 % | 26.80 % | 10.42 % | 9.95 % | 18.83 % | 25.51 % | 29.69 % | 31.45 % | 29.25 % | 32.93 % | 36.76 % | 34.64 % | 34.26 % | 31.35 % | 36.63 % |
| Net margin (%) | 22.92 % | 24.35 % | 13.12 % | 20.39 % | 19.75 % | 18.91 % | 7.15 % | 6.47 % | 13.13 % | 19.96 % | 23.20 % | 28.69 % | 26.42 % | 40.88 % | 30.55 % | 27.01 % | 27.97 % | 25.85 % | 30.00 % |
| FCF margin (%) | 41.45 % | 32.65 % | 33.88 % | 24.83 % | 31.62 % | 27.90 % | 23.76 % | 27.47 % | 26.79 % | 34.09 % | 37.45 % | 41.66 % | 36.05 % | 41.25 % | 43.60 % | 42.01 % | 35.77 % | 36.61 % | 41.45 % |
