Stock Analysis on Net

Adobe Inc. (NASDAQ:ADBE)

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DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
Quarterly Data

Microsoft Excel

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Two-Component Disaggregation of ROE

Adobe Inc., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = ROA × Financial Leverage
Aug 30, 2024 = ×
May 31, 2024 = ×
Mar 1, 2024 = ×
Dec 1, 2023 = ×
Sep 1, 2023 = ×
Jun 2, 2023 = ×
Mar 3, 2023 = ×
Dec 2, 2022 = ×
Sep 2, 2022 = ×
Jun 3, 2022 = ×
Mar 4, 2022 = ×
Dec 3, 2021 = ×
Sep 3, 2021 = ×
Jun 4, 2021 = ×
Mar 5, 2021 = ×
Nov 27, 2020 = ×
Aug 28, 2020 = ×
May 29, 2020 = ×
Feb 28, 2020 = ×
Nov 29, 2019 = ×
Aug 30, 2019 = ×
May 31, 2019 = ×
Mar 1, 2019 = ×
Nov 30, 2018 = ×
Aug 31, 2018 = ×
Jun 1, 2018 = ×
Mar 2, 2018 = ×

Based on: 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), 10-K (reporting date: 2019-11-29), 10-Q (reporting date: 2019-08-30), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-03-01), 10-K (reporting date: 2018-11-30), 10-Q (reporting date: 2018-08-31), 10-Q (reporting date: 2018-06-01), 10-Q (reporting date: 2018-03-02).

The primary reason for the increase in return on equity ratio (ROE) over Q3 2024 is the increase in profitability measured by return on assets ratio (ROA).


Three-Component Disaggregation of ROE

Adobe Inc., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Net Profit Margin × Asset Turnover × Financial Leverage
Aug 30, 2024 = × ×
May 31, 2024 = × ×
Mar 1, 2024 = × ×
Dec 1, 2023 = × ×
Sep 1, 2023 = × ×
Jun 2, 2023 = × ×
Mar 3, 2023 = × ×
Dec 2, 2022 = × ×
Sep 2, 2022 = × ×
Jun 3, 2022 = × ×
Mar 4, 2022 = × ×
Dec 3, 2021 = × ×
Sep 3, 2021 = × ×
Jun 4, 2021 = × ×
Mar 5, 2021 = × ×
Nov 27, 2020 = × ×
Aug 28, 2020 = × ×
May 29, 2020 = × ×
Feb 28, 2020 = × ×
Nov 29, 2019 = × ×
Aug 30, 2019 = × ×
May 31, 2019 = × ×
Mar 1, 2019 = × ×
Nov 30, 2018 = × ×
Aug 31, 2018 = × ×
Jun 1, 2018 = × ×
Mar 2, 2018 = × ×

Based on: 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), 10-K (reporting date: 2019-11-29), 10-Q (reporting date: 2019-08-30), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-03-01), 10-K (reporting date: 2018-11-30), 10-Q (reporting date: 2018-08-31), 10-Q (reporting date: 2018-06-01), 10-Q (reporting date: 2018-03-02).

The primary reason for the increase in return on equity ratio (ROE) over Q3 2024 is the increase in efficiency measured by asset turnover ratio.


Five-Component Disaggregation of ROE

Adobe Inc., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Financial Leverage
Aug 30, 2024 = × × × ×
May 31, 2024 = × × × ×
Mar 1, 2024 = × × × ×
Dec 1, 2023 = × × × ×
Sep 1, 2023 = × × × ×
Jun 2, 2023 = × × × ×
Mar 3, 2023 = × × × ×
Dec 2, 2022 = × × × ×
Sep 2, 2022 = × × × ×
Jun 3, 2022 = × × × ×
Mar 4, 2022 = × × × ×
Dec 3, 2021 = × × × ×
Sep 3, 2021 = × × × ×
Jun 4, 2021 = × × × ×
Mar 5, 2021 = × × × ×
Nov 27, 2020 = × × × ×
Aug 28, 2020 = × × × ×
May 29, 2020 = × × × ×
Feb 28, 2020 = × × × ×
Nov 29, 2019 = × × × ×
Aug 30, 2019 = × × × ×
May 31, 2019 = × × × ×
Mar 1, 2019 = × × × ×
Nov 30, 2018 = × × × ×
Aug 31, 2018 = × × × ×
Jun 1, 2018 = × × × ×
Mar 2, 2018 = × × × ×

Based on: 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), 10-K (reporting date: 2019-11-29), 10-Q (reporting date: 2019-08-30), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-03-01), 10-K (reporting date: 2018-11-30), 10-Q (reporting date: 2018-08-31), 10-Q (reporting date: 2018-06-01), 10-Q (reporting date: 2018-03-02).

The primary reason for the increase in return on equity ratio (ROE) over Q3 2024 is the increase in efficiency measured by asset turnover ratio.


Two-Component Disaggregation of ROA

Adobe Inc., decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Net Profit Margin × Asset Turnover
Aug 30, 2024 = ×
May 31, 2024 = ×
Mar 1, 2024 = ×
Dec 1, 2023 = ×
Sep 1, 2023 = ×
Jun 2, 2023 = ×
Mar 3, 2023 = ×
Dec 2, 2022 = ×
Sep 2, 2022 = ×
Jun 3, 2022 = ×
Mar 4, 2022 = ×
Dec 3, 2021 = ×
Sep 3, 2021 = ×
Jun 4, 2021 = ×
Mar 5, 2021 = ×
Nov 27, 2020 = ×
Aug 28, 2020 = ×
May 29, 2020 = ×
Feb 28, 2020 = ×
Nov 29, 2019 = ×
Aug 30, 2019 = ×
May 31, 2019 = ×
Mar 1, 2019 = ×
Nov 30, 2018 = ×
Aug 31, 2018 = ×
Jun 1, 2018 = ×
Mar 2, 2018 = ×

Based on: 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), 10-K (reporting date: 2019-11-29), 10-Q (reporting date: 2019-08-30), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-03-01), 10-K (reporting date: 2018-11-30), 10-Q (reporting date: 2018-08-31), 10-Q (reporting date: 2018-06-01), 10-Q (reporting date: 2018-03-02).

The primary reason for the increase in return on assets ratio (ROA) over Q3 2024 is the increase in asset turnover ratio.


Four-Component Disaggregation of ROA

Adobe Inc., decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover
Aug 30, 2024 = × × ×
May 31, 2024 = × × ×
Mar 1, 2024 = × × ×
Dec 1, 2023 = × × ×
Sep 1, 2023 = × × ×
Jun 2, 2023 = × × ×
Mar 3, 2023 = × × ×
Dec 2, 2022 = × × ×
Sep 2, 2022 = × × ×
Jun 3, 2022 = × × ×
Mar 4, 2022 = × × ×
Dec 3, 2021 = × × ×
Sep 3, 2021 = × × ×
Jun 4, 2021 = × × ×
Mar 5, 2021 = × × ×
Nov 27, 2020 = × × ×
Aug 28, 2020 = × × ×
May 29, 2020 = × × ×
Feb 28, 2020 = × × ×
Nov 29, 2019 = × × ×
Aug 30, 2019 = × × ×
May 31, 2019 = × × ×
Mar 1, 2019 = × × ×
Nov 30, 2018 = × × ×
Aug 31, 2018 = × × ×
Jun 1, 2018 = × × ×
Mar 2, 2018 = × × ×

Based on: 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), 10-K (reporting date: 2019-11-29), 10-Q (reporting date: 2019-08-30), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-03-01), 10-K (reporting date: 2018-11-30), 10-Q (reporting date: 2018-08-31), 10-Q (reporting date: 2018-06-01), 10-Q (reporting date: 2018-03-02).

The primary reason for the increase in return on assets ratio (ROA) over Q3 2024 is the increase in efficiency measured by asset turnover ratio.


Disaggregation of Net Profit Margin

Adobe Inc., decomposition of net profit margin ratio (quarterly data)

Microsoft Excel
Net Profit Margin = Tax Burden × Interest Burden × EBIT Margin
Aug 30, 2024 = × ×
May 31, 2024 = × ×
Mar 1, 2024 = × ×
Dec 1, 2023 = × ×
Sep 1, 2023 = × ×
Jun 2, 2023 = × ×
Mar 3, 2023 = × ×
Dec 2, 2022 = × ×
Sep 2, 2022 = × ×
Jun 3, 2022 = × ×
Mar 4, 2022 = × ×
Dec 3, 2021 = × ×
Sep 3, 2021 = × ×
Jun 4, 2021 = × ×
Mar 5, 2021 = × ×
Nov 27, 2020 = × ×
Aug 28, 2020 = × ×
May 29, 2020 = × ×
Feb 28, 2020 = × ×
Nov 29, 2019 = × ×
Aug 30, 2019 = × ×
May 31, 2019 = × ×
Mar 1, 2019 = × ×
Nov 30, 2018 = × ×
Aug 31, 2018 = × ×
Jun 1, 2018 = × ×
Mar 2, 2018 = × ×

Based on: 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), 10-K (reporting date: 2019-11-29), 10-Q (reporting date: 2019-08-30), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-03-01), 10-K (reporting date: 2018-11-30), 10-Q (reporting date: 2018-08-31), 10-Q (reporting date: 2018-06-01), 10-Q (reporting date: 2018-03-02).

The primary reason for the increase in net profit margin ratio over Q3 2024 is the increase in operating profitability measured by EBIT margin ratio.