# Adobe's $6.82 billion buyback equals 91% of nine-month free cash flow

![Adobe's $6.82 billion buyback equals 91% of nine-month free cash flow](https://aiswingx.com/static/covers/adbe-fy26q3_cover.jpg?v=1790546556)

**Fiscal 2026 third-quarter 10-Q: operations brought in $7.646 billion of cash over nine months, $7.466 billion after capital expenditure, and share repurchases came to $6.821 billion**

Adobe (ADBE) generated $7.646 billion of operating cash flow in the first nine months of fiscal 2026. Subtracting $180 million of capital expenditure leaves free cash flow of $7.466 billion. Over the same nine months the company repurchased $6.821 billion of its own shares — 91.4% of that free cash flow.

- 종목: ADBE (Adobe Inc.)
- 분기: FY2026Q3 · 10-Q
- 작성: 2026-09-27 22:04 UTC
- 원문: https://aiswingx.com/p/adbe-fy26q3

## 숫자 하나
Nine-month free cash flow of $7.466 billion (operating cash flow $7.646 billion less capital expenditure $180 million), of which share repurchases took $6.821 billion, or 91.4%. Cash fell from $5.431 billion to $4.359 billion over the same period, a decline of $1.072 billion. Remaining performance obligations stood at $22.16 billion.

## 비유 하나
(구독자 전용)

## 출처 하나
Adobe Inc. Form 10-Q (fiscal 2026 third quarter, filed 2026-09-22, accession 0000796343-26-000156): consolidated statements of income, consolidated balance sheets, consolidated statements of cash flows, Note 3 on deferred revenue and remaining performance obligations, Note 7 on goodwill and other intangibles, Note 9 on income taxes, and the Liquidity and Capital Resources discussion in MD&A. Quarterly and year-to-date figures cross-checked against SEC XBRL Company Facts.

## 다음 분기에 볼 것
(구독자 전용)

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## What happened

Adobe (ADBE) sells Photoshop, Illustrator and Acrobat on subscription. Its fiscal 2026 third quarter ended on August 28, 2026, and the 10-Q was filed on September 22, 2026.

Three cash lines for the first nine months of the fiscal year. All three appear in the consolidated statement of cash flows.

| Item | Nine months, fiscal 2026 |
|---|---|
| Operating cash flow | $7.646 billion |
| Capital expenditure | −$180 million |
| **Free cash flow** | **$7.466 billion** |
| Share repurchases | −$6.821 billion |
| **Repurchases / free cash flow** | **91.4%** |

Net income for the same nine months was $5.428 billion. The $6.821 billion of repurchases equals **125.7%** of that figure.

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(End of free preview. What the numbers mean, why it matters, company context, the next-quarter checklist and the arithmetic are available to subscribers — https://aiswingx.com/pricing)

## FAQ

**Q. How is the 91% of free cash flow figure derived?**

The nine-month operating cash flow, capital expenditure and share repurchase figures are in the free table above. All three appear in this 10-Q's consolidated statement of cash flows.

**Q. Which notes were moved into current liabilities?**

The company wrote that it reclassified the senior notes due February 1, 2027 and April 4, 2027 as current debt. The carrying value and the company's stated plan are in the subscriber section.

**Q. How much of the contracted backlog becomes revenue within a year?**

The company disclosed the total remaining performance obligations and separately the share expected to be recognized within 12 months. The subscriber section shows, with the original sentence, why that percentage does not apply to the total.

**Q. Where is the goodwill impairment recorded?**

There is no separate income-statement line. It sits inside general and administrative expenses. The amount and the reporting unit are in the subscriber section.

**Q. Where can I verify this directly?**

Open Adobe Inc.'s fiscal 2026 third-quarter Form 10-Q (accession 0000796343-26-000156) on SEC EDGAR and read the consolidated statement of cash flows together with the deferred revenue, debt and goodwill notes.