Adobe (ADBE) Operating Margin (2009 - 2026)
Adobe's Operating Margin came in at 34.82% for fiscal Q3 2026 (quarter ended Aug 28, 2026), down 1.47 percentage points from 36.29% a year earlier but up 1.01 percentage points from the prior quarter.
Adobe (ADBE) Operating Margin (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Aug 28, 2026, Adobe reported Operating Margin of 35.70%, down 0.55 percentage points year-over-year; for FY2025 (ended Nov 28, 2025), it came in at 36.63%, up 5.28 percentage points from FY2024.
- Operating Margin carries a five-year change of +3.70 percentage points (FY2020 to FY2025).
- Going back by fiscal year, Operating Margin was 31.35% in FY2024 (-2.92 pp), 34.26% in FY2023 (-0.37 pp), 34.64% in FY2022 (-2.12 pp) and 36.76% in FY2021 (+3.83 pp).
- The five-year range for quarterly Operating Margin is 17.50% (fiscal Q1 2024) to 37.85% (fiscal Q1 2025).
- Year-over-year, Operating Margin has declined for three consecutive quarters, with an average year-over-year change of +2.32 percentage points over the last eight quarters.
- The fastest year-over-year change in Operating Margin over five years came in fiscal Q1 2025 (a gain of 20.35 percentage points), and the weakest in fiscal Q1 2024 (a drop of 16.57 percentage points).
- Business Quant data shows ADBE's Operating Margin at 33.82% (Q2 2026), 37.79% (Q1 2026) and 36.50% (Q4 2025) in the three fiscal quarters before Q3 2026.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Adobe | 99.39 Bn | 74.64 Bn | 6.00 Bn | 34.82% |
| 2 | Atlassian | 56.40 Bn | 49.68 Bn | 1.53 Bn | 11.93% |
| 3 | Autodesk | 51.55 Bn | 39.59 Bn | 1.87 Bn | 29.28% |
| 4 | Twilio | 41.87 Bn | 31.94 Bn | 725.87 Mn | 5.64% |
| 5 | Zoom Communications | 28.87 Bn | -1.92 Bn | 985.50 Mn | 24.61% |
| 6 | Figma | 12.14 Bn | 5.65 Bn | 309.61 Mn | -31.69% |
| 7 | Dropbox | 8.22 Bn | 3.86 Bn | 506.50 Mn | 26.10% |
| 8 | Nice | 7.17 Bn | 5.64 Bn | 995.81 Mn | 14.88% |
| 9 | RingCentral | 6.72 Bn | 6.21 Bn | 472.31 Mn | 7.65% |
| 10 | Open Text | 6.42 Bn | 1.85 Bn | 1.01 Bn | 23.70% |
Historic Data
| Date | Value |
|---|---|
| Aug 28, 2026 | 34.82% |
| 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 | 33.26% |
| Sep 2, 2022 | 33.48% |
| Jun 3, 2022 | 34.86% |
| Mar 4, 2022 | 37.07% |
| Dec 3, 2021 | 36.52% |
Adobe Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=ADBE&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "ADBE", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=ADBE&period=max&api_key=YOUR_API_KEY");
const data = await res.json();