ADBE Adobe Systems Incorporated
Exchange
NASDAQSector
TechnologyIndustry
Computer Software: Prepackaged SoftwareMarket Cap.
21.468B
Competitive Advantage over the past 10 years
ADBE likely has a competitive advantage which prevents other companies from entering or competing in their industry.
This could be strong branding, the ability to keep costs low, or some other characteristic that is hard to replicate. Look at future prospects to determine its sustainability.
$21.49 of every $100 of Revenue have been pure profit, on average over the past 10 years.
$21.49 of every $100 of Revenue have been pure profit, on average over the past 10 years.
Figures in USD. Fiscal year ends in November
| 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | |
| Net Income | 191.40M | 266.34M | 450.40M | 602.84M | 505.81M | 723.81M | 871.81M | 386.51M | 774.68M | 832.85M |
| divided by | ||||||||||
| Revenue | 1.16B | 1.29B | 1.67B | 1.97B | 2.58B | 3.16B | 3.58B | 2.95B | 3.80B | 4.22B |
| Net Profit Margin | 16.43% | 20.57% | 27.03% | 30.66% | 19.64% | 22.92% | 24.35% | 13.12% | 20.39% | 19.75% |
Strong Pricing Power over the past 10 years
ADBE has maintained substantial gross margins, suggesting that they have been able to set prices without consideration of the cost of goods sold.
This potentially leaves flexibility in inflationary environments to raise prices on consumers and maintain profitability.
$90.81 of every $100 worth of sales have been Gross Profit, on average over the past 10 years.
$90.81 of every $100 worth of sales have been Gross Profit, on average over the past 10 years.
Figures in USD. Fiscal year ends in November
| 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | |
| Gross Profit | 1.06B | 1.20B | 1.56B | 1.85B | 2.28B | 2.80B | 3.22B | 2.65B | 3.40B | 3.78B |
| divided by | ||||||||||
| Revenue | 1.16B | 1.29B | 1.67B | 1.97B | 2.58B | 3.16B | 3.58B | 2.95B | 3.80B | 4.22B |
| Gross Margin | 91.05% | 92.82% | 93.74% | 94.27% | 88.64% | 88.77% | 89.87% | 89.93% | 89.38% | 89.61% |
Low Capital Intensity over the past 10 years
ADBE has consistently used a small portion of their Net Income buying new equipment or investing in new facilities.
This indicates that ADBE may require minimal investment to stay competitive.
This leaves them with extra money to spend on growing their business and potentially buying back stock.
17.91% of Profits are being spent on Capital Expenditures, like Property, Plant, & Equipment, required to run the business.
17.91% of Profits are being spent on Capital Expenditures, like Property, Plant, & Equipment, required to run the business.
Figures in USD. Fiscal year ends in November
| 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | |
| Capital Expenditure | 31.58M | 39.45M | 63.23M | 48.88M | 83.25M | 132.08M | 111.79M | 119.59M | 169.64M | 210.29M |
| divided by | ||||||||||
| Net Income | 191.40M | 266.34M | 450.40M | 602.84M | 505.81M | 723.81M | 871.81M | 386.51M | 774.68M | 832.85M |
| Capital Expenditure Ratio | 16.50% | 14.81% | 14.04% | 8.11% | 16.46% | 18.25% | 12.82% | 30.94% | 21.90% | 25.25% |