Common-Size Balance Sheet: Assets
Adobe Inc., common-size consolidated balance sheet: assets
Based on: 10-K (reporting date: 2024-11-29), 10-K (reporting date: 2023-12-01), 10-K (reporting date: 2022-12-02), 10-K (reporting date: 2021-12-03), 10-K (reporting date: 2020-11-27), 10-K (reporting date: 2019-11-29).
- Cash and Cash Equivalents
- The proportion of cash and cash equivalents relative to total assets exhibited an overall upward trend from 12.76% in 2019 to 25.18% in 2024, peaking significantly in 2023 and 2024. This indicates an increasing liquidity preference or accumulation of readily available funds over the period.
- Short-term Investments
- Short-term investments as a percentage of total assets showed a declining trend from 7.35% in 2019 to merely 0.9% in 2024. This decrease suggests a reduced reliance or allocation toward short-term investments in favor of other asset types.
- Trade Receivables, Net
- Trade receivables experienced minor fluctuations but remained relatively stable, moving from 7.39% in 2019 to 6.85% in 2024, with a peak at 7.6% in 2022. This stability indicates consistent credit sales and effective management of accounts receivable.
- Prepaid Expenses and Other Current Assets
- This category showed slight variability, decreasing from 3.77% in 2019 to 3.07% in 2022, then increasing to 4.21% by 2024, pointing to changes in advance payments or other short-term assets but with no significant trend.
- Current Assets
- Overall, current assets increased from 31.28% in 2019 to a peak of 37.22% in 2023, stabilizing slightly at 37.16% in 2024. This growth aligns with the increase in cash and equivalents and suggests a strengthening of short-term asset composition.
- Property and Equipment, Net
- The net percentage of property and equipment remained relatively steady, fluctuating gently between 6.14% and 7.02%, ending at 6.40% in 2024, indicating stable investment in physical assets.
- Operating Lease Right-of-Use Assets, Net
- Starting from 2.01% in 2020, this category steadily decreased to 0.93% in 2024, showing a diminishing balance of leased asset rights, possibly due to lease expirations or reclassifications.
- Goodwill
- Goodwill as a percentage of total assets moderately declined from a high of 51.49% in 2019 to 42.3% in 2024. This reduction may reflect amortization, impairment, or acquisition patterns affecting intangible asset composition.
- Other Intangibles, Net
- Other intangibles exhibited a pronounced decline from 8.29% in 2019 to 2.59% in 2024, indicating systematic write-offs, amortization, or reduced acquisition of intangible assets over the period.
- Deferred Income Taxes
- Deferred income taxes increased notably from 0% in 2019 to 5.48% by 2024, with some fluctuations in between. This suggests evolving tax positions or timing differences impacting asset recognition.
- Other Assets
- This category showed a gradual increase from 2.71% in 2019 to 5.14% in 2024, indicating growing importance or accumulation of miscellaneous long-term assets.
- Long-term Assets
- Long-term assets as a proportion of total assets decreased from 68.72% in 2019 to around 62.84% in 2024, reflecting the relative increase in current assets and shifts in asset structure.
- Total Assets
- As expected, total assets represented 100% throughout all years, serving as the baseline for proportional analysis.