Balance Sheet: Assets
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Geographic Areas
- Price to FCFE (P/FCFE)
- Net Profit Margin since 2005
- Return on Assets (ROA) since 2005
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Adobe Inc., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 10-K (reporting date: 2025-11-28), 10-Q (reporting date: 2025-08-29), 10-Q (reporting date: 2025-05-30), 10-Q (reporting date: 2025-02-28), 10-K (reporting date: 2024-11-29), 10-Q (reporting date: 2024-08-30), 10-Q (reporting date: 2024-05-31), 10-Q (reporting date: 2024-03-01), 10-K (reporting date: 2023-12-01), 10-Q (reporting date: 2023-09-01), 10-Q (reporting date: 2023-06-02), 10-Q (reporting date: 2023-03-03), 10-K (reporting date: 2022-12-02), 10-Q (reporting date: 2022-09-02), 10-Q (reporting date: 2022-06-03), 10-Q (reporting date: 2022-03-04), 10-K (reporting date: 2021-12-03), 10-Q (reporting date: 2021-09-03), 10-Q (reporting date: 2021-06-04), 10-Q (reporting date: 2021-03-05), 10-K (reporting date: 2020-11-27), 10-Q (reporting date: 2020-08-28), 10-Q (reporting date: 2020-05-29), 10-Q (reporting date: 2020-02-28).
Over the observed period, the company’s total assets exhibited a general upward trend, although with some fluctuations. Initial growth from February 2020 to December 2021 was followed by a period of relative stabilization and then renewed growth, culminating in a peak in May 2024 before a slight decline through November 2025. A closer examination of the asset composition reveals varying patterns across different categories.
- Liquidity – Current Assets
- Current assets demonstrated a consistent increase from February 2020 to December 2022, rising from US$6,455 million to US$8,996 million. A notable dip occurred in March 2023, followed by a recovery and a peak of US$11,232 million in May 2024. Subsequently, current assets decreased to US$10,163 million by November 2025. Within current assets, cash and cash equivalents showed significant volatility, peaking at US$7,660 million in May 2024 before declining. Short-term investments generally decreased over the period, suggesting a shift in asset allocation. Trade receivables exhibited a steady increase until December 2023, then fluctuated, indicating potential changes in sales terms or collection efficiency. Prepaid expenses and other current assets showed a moderate, relatively consistent increase throughout the period.
- Long-Term Investments
- Property and equipment, net, increased steadily from February 2020 to December 2022, reaching US$1,908 million, and remained relatively stable thereafter. Operating lease right-of-use assets, net, experienced a gradual decline throughout the period, suggesting a reduction in leased assets or changes in lease terms. Goodwill remained consistently high, fluctuating between US$10,691 million and US$12,862 million, indicating substantial past acquisitions. Other intangibles, net, decreased steadily over the period, potentially due to amortization or impairment. Deferred income taxes showed a significant increase from May 2020 onwards, peaking in November 2025, potentially reflecting changes in tax liabilities or deferred tax asset recognition. Other assets also increased over the period, though less dramatically than deferred income taxes.
The composition of total assets shifted over time. While long-term assets consistently represented a significant portion of the total, the fluctuations in current assets introduced variability. The increase in deferred income taxes towards the end of the period is a notable observation, potentially warranting further investigation into the underlying tax strategies and implications. The overall trend suggests a company actively managing its asset base, with adjustments made to both short-term and long-term holdings.
- Overall Asset Growth
- From February 2020 to November 2025, total assets increased from US$21,214 million to US$29,496 million, representing an overall growth of approximately 39.5%. However, the rate of growth was not consistent, with periods of rapid expansion followed by periods of consolidation or slight decline. The peak in total assets occurred in May 2024 at US$30,007 million, followed by a decrease to US$29,496 million in November 2025.