Adobe (ADBE) Operating Margin (2009 - 2026)
Adobe (ADBE) posted quarterly Operating Margin of 33.82% for Q2 2026, down 209.0% year-over-year from 31.02% in Q2 2025, and down 10.52% quarter-over-quarter from 37.79% in Q1 2026.
Adobe (ADBE) Operating Margin (2009 - 2026) Analysis & Trends
Adobe (ADBE) has reported Operating Margin for 18 consecutive years, with 33.82% the latest figure, recorded in Q2 2026.
- In Q2 2026, Operating Margin fell 209.0% year-over-year to 33.82%; the TTM figure through May 2026 stood at 36.07% (down 30.0% YoY), while the FY2025 annual figure was 36.63%, up 528.0% from the prior year.
- Operating Margin retreated to 33.82% in Q2 2026 per ADBE's latest filing, from 37.79% in the prior quarter.
- Across five years, Operating Margin topped out at 1089.66% in Q1 2022 and bottomed at 8.76% in Q4 2022.
- Historically, Operating Margin has averaged 147.73% across 5 years, with a median of 35.21% in 2024.
- Annual changes were most pronounced in 2022 — Operating Margin jumped 15159 bps — and 2023, when it sank 105558 bps.
- Adobe's Operating Margin stood at 8.76% in 2022, then jumped by 294 bps to 34.53% in 2023, then advanced by 1 bps to 34.91% in 2024, then rose by 5 bps to 36.5% in 2025, then fell by 7 bps to 33.82% in 2026.
- Business Quant data shows ADBE's Operating Margin at 33.82% in Q2 2026, 37.79% in Q1 2026, and 36.5% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 255.48 Bn | 234.41 Bn | 16.51 Bn | 27.70% |
| 2 | Shopify | 198.95 Bn | 194.00 Bn | 1.71 Bn | 13.62% |
| 3 | Salesforce | 160.70 Bn | 148.86 Bn | 8.56 Bn | 21.08% |
| 4 | Uber Technologies | 154.94 Bn | 149.73 Bn | 6.38 Bn | 13.32% |
| 5 | ServiceNow | 128.25 Bn | 123.58 Bn | 2.82 Bn | 4.06% |
| 6 | Snowflake | 114.00 Bn | 111.05 Bn | 926.45 Mn | -23.45% |
| 7 | Automatic Data Processing | 108.58 Bn | 104.35 Bn | 2.51 Bn | -33.33% |
| 8 | Adobe | 105.34 Bn | 99.72 Bn | 5.90 Bn | 33.82% |
| 9 | Intuit | 94.55 Bn | 87.77 Bn | 7.24 Bn | 46.97% |
| 10 | Datadog | 91.70 Bn | 86.71 Bn | 881.34 Mn | 0.49% |
Historic Data
Download Data| Date | Value |
|---|---|
| May 29, 2026 | 33.82% |
| Feb 27, 2026 | 37.79% |
| Nov 28, 2025 | 36.50% |
| Aug 29, 2025 | 36.29% |
| May 30, 2025 | 35.91% |
| Feb 28, 2025 | 37.85% |
| Nov 29, 2024 | 34.91% |
| Aug 30, 2024 | 36.83% |
| May 31, 2024 | 35.51% |
| Mar 1, 2024 | 17.50% |
| Dec 1, 2023 | 34.53% |
| Sep 1, 2023 | 34.70% |
| Jun 2, 2023 | 33.72% |
| Mar 3, 2023 | 34.07% |
| Dec 2, 2022 | 8.76% |
| Sep 2, 2022 | 33.48% |
| Jun 3, 2022 | 1,047.26% |
| Mar 4, 2022 | 1,089.66% |
| Dec 3, 2021 | 9.77% |
| Sep 3, 2021 | 36.62% |