Analysis of Reportable Segments
Adobe Inc. operates in 3 segments: Digital Media; Digital Experience; and Publishing and Advertising.
Segment Profit Margin
Adobe Inc., profit margin by reportable segment
| Nov 29, 2024 | Dec 1, 2023 | Dec 2, 2022 | Dec 3, 2021 | Nov 27, 2020 | Nov 29, 2019 | |
|---|---|---|---|---|---|---|
| Digital Media | 95.71% | 95.32% | 95.63% | 96.28% | 96.19% | 96.24% |
| Digital Experience | 70.39% | 67.24% | 66.03% | 65.84% | 63.97% | 62.22% |
| Publishing and Advertising | 67.64% | 71.33% | 70.18% | 71.11% | 52.16% | 51.12% |
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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Digital Media | Digital Media segment profit margin ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level. |
| Digital Experience | Digital Experience segment profit margin ratio improved from 2022 to 2023 and from 2023 to 2024. | |
| Publishing and Advertising | Publishing and Advertising segment profit margin ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
Segment Profit Margin: Digital Media
Adobe Inc.; Digital Media; segment profit margin calculation
| Nov 29, 2024 | Dec 1, 2023 | Dec 2, 2022 | Dec 3, 2021 | Nov 27, 2020 | Nov 29, 2019 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Gross profit | 15,184) | 13,551) | 12,281) | 11,091) | 8,881) | 7,417) |
| Revenue | 15,864) | 14,216) | 12,842) | 11,520) | 9,233) | 7,707) |
| Segment Profitability Ratio | ||||||
| Segment profit margin1 | 95.71% | 95.32% | 95.63% | 96.28% | 96.19% | 96.24% |
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).
1 2024 Calculation
Segment profit margin = 100 × Gross profit ÷ Revenue
= 100 × 15,184 ÷ 15,864 = 95.71%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Digital Media | Digital Media segment profit margin ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level. |
Segment Profit Margin: Digital Experience
Adobe Inc.; Digital Experience; segment profit margin calculation
| Nov 29, 2024 | Dec 1, 2023 | Dec 2, 2022 | Dec 3, 2021 | Nov 27, 2020 | Nov 29, 2019 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Gross profit | 3,777) | 3,290) | 2,920) | 2,546) | 1,999) | 1,739) |
| Revenue | 5,366) | 4,893) | 4,422) | 3,867) | 3,125) | 2,795) |
| Segment Profitability Ratio | ||||||
| Segment profit margin1 | 70.39% | 67.24% | 66.03% | 65.84% | 63.97% | 62.22% |
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).
1 2024 Calculation
Segment profit margin = 100 × Gross profit ÷ Revenue
= 100 × 3,777 ÷ 5,366 = 70.39%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Digital Experience | Digital Experience segment profit margin ratio improved from 2022 to 2023 and from 2023 to 2024. |
Segment Profit Margin: Publishing and Advertising
Adobe Inc.; Publishing and Advertising; segment profit margin calculation
| Nov 29, 2024 | Dec 1, 2023 | Dec 2, 2022 | Dec 3, 2021 | Nov 27, 2020 | Nov 29, 2019 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Gross profit | 186) | 214) | 240) | 283) | 266) | 342) |
| Revenue | 275) | 300) | 342) | 398) | 510) | 669) |
| Segment Profitability Ratio | ||||||
| Segment profit margin1 | 67.64% | 71.33% | 70.18% | 71.11% | 52.16% | 51.12% |
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).
1 2024 Calculation
Segment profit margin = 100 × Gross profit ÷ Revenue
= 100 × 186 ÷ 275 = 67.64%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Publishing and Advertising | Publishing and Advertising segment profit margin ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
Revenue
Adobe Inc., revenue by reportable segment
US$ in millions
| Nov 29, 2024 | Dec 1, 2023 | Dec 2, 2022 | Dec 3, 2021 | Nov 27, 2020 | Nov 29, 2019 | |
|---|---|---|---|---|---|---|
| Digital Media | 15,864) | 14,216) | 12,842) | 11,520) | 9,233) | 7,707) |
| Digital Experience | 5,366) | 4,893) | 4,422) | 3,867) | 3,125) | 2,795) |
| Publishing and Advertising | 275) | 300) | 342) | 398) | 510) | 669) |
| Total | 21,505) | 19,409) | 17,606) | 15,785) | 12,868) | 11,171) |
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).
Gross profit
Adobe Inc., gross profit by reportable segment
US$ in millions
| Nov 29, 2024 | Dec 1, 2023 | Dec 2, 2022 | Dec 3, 2021 | Nov 27, 2020 | Nov 29, 2019 | |
|---|---|---|---|---|---|---|
| Digital Media | 15,184) | 13,551) | 12,281) | 11,091) | 8,881) | 7,417) |
| Digital Experience | 3,777) | 3,290) | 2,920) | 2,546) | 1,999) | 1,739) |
| Publishing and Advertising | 186) | 214) | 240) | 283) | 266) | 342) |
| Total | 19,147) | 17,055) | 15,441) | 13,920) | 11,146) | 9,498) |
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).