SuperworthAdobe ADBE
- Market cap
- $102.7B
- PE
- 14.7×
- 10y median 49.2×
- Forward PE
- 9.8×
- 10y median 30.4×
- Price to sales
- 4.0×
- EV/EBIT
- 10.9×
- Revenue, 12 months
- $26B
- +12% on a year ago
- Net margin
- 28.0%
- Free cash flow yield
- 10.3%
Adobe trades at 14.7× trailing earnings, cheaper than 96% of the last ten years. Revenue was $26B over the last twelve months, up 12% on a year earlier with a 28% net margin.
Charts
Financials
| Income statement | Q4 FY23 | Q1 FY24 | Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $5B+12% | $5.2B+11% | $5.3B+10% | $5.4B+11% | $5.6B+11% | $5.7B+10% | $5.9B+11% | $6B+11% | $6.2B+11% | $6.4B+12% | $6.6B+13% | $6.8B+13% | |
| Cost of revenue | $634M+12% | $590M+4% | $598M+5% | $554M−5% | $616M−3% | $622M+5% | $638M+7% | $642M+16% | $649M+5% | $664M+7% | $715M+12% | $763M+19% |
| Gross profit | $4.4B+12% | $4.6B+12% | $4.7B+11% | $4.9B+13% | $5B+13% | $5.1B+11% | $5.2B+11% | $5.3B+10% | $5.5B+11% | $5.7B+13% | $5.9B+13% | $6B+12% |
| R&D | $889M+15% | $939M+14% | $984M+12% | $1B+16% | $999M+12% | $1B+9% | $1.1B+10% | $1.1B+7% | $1.1B+10% | $1.1B+8% | $1.2B+11% | $1.3B+18% |
| SG&A | $1.7B+6% | $1.7B+4% | $1.8B+6% | $1.8B+6% | $2B+15% | $1.9B+9% | $2B+11% | $2B+14% | $2.1B+8% | $2.2B+17% | $2.4B+21% | $2.3B+13% |
| $1.7B+16% | $907M−43% | $1.9B+16% | $2B+17% | $2B+12% | $2.2B+139% | $2.1B+12% | $2.2B+9% | $2.3B+16% | $2.4B+12% | $2.2B+6% | $2.4B+8% | |
| Interest expense | $28M+0% | $27M−16% | $41M+58% | $51M+89% | $50M+79% | $62M+130% | $68M+66% | $67M+31% | $66M+32% | $63M+2% | $65M−4% | $66M−2% |
| Pre-tax income | $1.8B+19% | $968M−39% | $1.9B+17% | $2B+17% | $2B+10% | $2.2B+125% | $2.1B+9% | $2.2B+7% | $2.3B+14% | $2.4B+11% | $2.2B+7% | $2.4B+8% |
| $325M−5% | $348M−1% | $357M+1% | $358M+5% | $308M−5% | $371M+7% | $410M+15% | $415M+16% | $408M+33% | $533M+44% | $526M+28% | $530M+28% | |
| Net income | $1.5B+26% | $620M−50% | $1.6B+22% | $1.7B+20% | $1.7B+14% | $1.8B+192% | $1.7B+8% | $1.8B+5% | $1.9B+10% | $1.9B+4% | $1.7B+1% | $1.8B+3% |
| $3.23+28% | $1.36−50% | $3.49+24% | $3.76+23% | $3.80+18% | $4.14+204% | $3.94+13% | $4.18+11% | $4.45+17% | $4.60+11% | $4.25+8% | $4.62+11% | |
| 458.8M−1% | 456.3M−1% | 451.4M−2% | 447.6M−3% | 443.4M−3% | 437.6M−4% | 428.9M−5% | 424.1M−5% | 417M−6% | 410.8M−6% | 402.5M−6% | 395.5M−7% |
EPS, diluted: 7 periods, Q4 FY08 to Q4 FY25: quarter's net income to common over its shares, to the cent.
Diluted shares: 17 periods, Q4 FY08 to Q4 FY25: share-days: the 12-month average less the 9-month, weighted by days. Q4 FY09: a loss quarter: its basic count, share-days: the 12-month average less the 9-month, weighted by days.
From each company's 10-Q and 10-K filings, the newest version of each figure. Quarters are as filed (a fourth quarter is the year less its first nine months), fiscal years as the 10-K prints them, restated where a later 10-K restated them, and balance sheet lines as of the period's end. A quarter whose 10-Q isn't filed yet is from the company's results release. Growth is on the same period a year earlier. A dash is a period with no figure for the line: the filing doesn't print it, or it hasn't been read yet.
Estimates
Next earnings report: .
| Quarter | Revenue | Range | EPS | Range | Analysts |
|---|---|---|---|---|---|
| Q4 FY26 | $6.8B | $6.8B to $6.9B | $6.33 | $6.31 to $6.36 | 21 |
| Q1 FY27 | $7B | $6.9B to $7.5B | $6.76 | $6.41 to $7.22 | 18 |
| Q2 FY27 | $7.2B | $7.1B to $7.5B | $6.80 | $6.67 to $7.17 | 8 |
| Q3 FY27 | $7.3B | $7.2B to $7.6B | $6.98 | $6.85 to $7.36 | 8 |
| Q4 FY27 | $7.4B | $7.3B to $7.7B | $7.14 | $7.01 to $7.54 | 12 |
| Q1 FY28 | $7.6B | $7.5B to $7.9B | $7.43 | $7.29 to $7.84 | 9 |
| Q2 FY28 | $7.7B | $7.6B to $8.1B | $7.58 | $7.44 to $8.00 | 17 |
| Q3 FY28 | $7.9B | $7.8B to $8.2B | $7.83 | $7.69 to $8.26 | 11 |
Peers
Companies in Software - Application nearest Adobe's size, closest first.
| Company | Market cap | PE | Its 10y median PE | Fwd PE | P/S | Revenue growth | Net margin |
|---|---|---|---|---|---|---|---|
| ADBEAdobe | $102.7B | 14.7× | 49.2× | 9.8× | 4.0× | +12% | 28.0% |
| DDOGDatadog | $96.8B | n/m | 340× | 101× | 24.4× | +32% | 4.5% |
| SNOWSnowflake | $114.8B | n/m | n/a | 128× | 21.1× | +32% | −20.1% |
| INTUIntuit | $91.8B | 20.8× | 49.4× | 14.9× | 4.3× | +14% | 21.3% |
| ADPAutomatic Data Processing | $120.8B | 27.8× | 30.4× | 24.8× | 5.5× | +7% | 20.1% |
| CDNSCadence Design Systems | $87.2B | 62.9× | 59.4× | 36.9× | 14.9× | +15% | 23.6% |
| APPAppLovin | $87.1B | 20.0× | 62.7× | 14.4× | 12.8× | +48% | 64.6% |
| UBERUber Technologies | $136.2B | 14.7× | 17.6× | 17.3× | 2.5× | +17% | 17.3% |
| NOWServiceNow | $164.4B | 99.3× | 122× | 35.1× | 11.2× | +22% | 11.3% |
| TEAMAtlassian | $57.6B | n/m | n/a | 41.4× | 8.8× | +26% | −0.8% |
| MSTRStrategy | $56.1B | n/m | 37.9× | 4.6× | 113× | +8% | n/m |
| Peer median | $94.3B | 24.3× | 54.4× | 30.0× | 12.0× | +19% | 17.3% |
Investors who own it
Investors we follow who held Adobe at the end of Jun 30, 2026, from their 13F filings.
- Bill NygrenHarris Associates (Oakmark)0.8% of portfolioadded
- Polen CapitalPolen Capital0.0% of portfoliotrimmed
- Baillie GiffordBaillie Gifford0.0% of portfoliotrimmed
More on Adobe
Each number over time
- PE ratio
- Forward PE
- Price to sales ratio
- EV/EBIT
- Price to free cash flow
- Price to book ratio
- Market cap
- Revenue
- EPS
- Free cash flow
- Profit margin
- Shares outstanding
Where it ranks
- #7of 146Technology stocks cheapest against their own PE history
- #6of 91Application software stocks with the highest profit margins
- #7of 95Technology stocks with the lowest forward PE
- #2of 19Application software stocks with the lowest forward PE
- #8of 53Application software stocks with the lowest PE ratio
- #3of 14Application software stocks with the lowest PEG ratio
- #4of 17Application software stocks cheapest against their own PE history
Its groups
About
- Industry
- Software - Application
- Sector
- Technology
Valuation data, not investment advice. Prices as of .