ADOBE INC. Earnings Per Share Disclosure
| (in millions, except per share data) | 2025 | 2024 | 2023 | ||||||||||||||
| Net income | $ | 7,130 | $ | 5,560 | $ | 5,428 | |||||||||||
| Shares used to compute basic net income per share | 426.2 | 447.1 | 457.1 | ||||||||||||||
| Dilutive potential common shares from stock plans and programs | 0.8 | 2.6 | 2.0 | ||||||||||||||
| Shares used to compute diluted net income per share | 427.0 | 449.7 | 459.1 | ||||||||||||||
| Basic net income per share | $ | 16.73 | $ | 12.43 | $ | 11.87 | |||||||||||
| Diluted net income per share | $ | 16.70 | $ | 12.36 | $ | 11.82 | |||||||||||
| Anti-dilutive potential common shares | 5.1 | 1.9 | 2.7 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Jan 15, 2026 | Showing above |
| 2024 | Jan 13, 2025 | |
| 2023 | Jan 17, 2024 | |
| 2022 | Jan 17, 2023 | |
| 2021 | Jan 21, 2022 | |
| 2018 | Jan 25, 2019 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.