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Investment Highlights Market Valuation Price Chart Return vs. Risk About ADBE Interactive Breakdown Better Bets vs. ADBE Latest Trefis Analyses Trade Ideas Recent Active Movers More From Trefis Peer Financials Peer Growth & Margins Peer Valuation Peer Returns Peer Analyses FDIC Bank Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Insider Activity Industry Resource Links External Quote Links

Adobe (ADBE)

Market Price (10/26/2025): $353.53 | Market Cap: $149.5 Bil
Sector: Information Technology | Industry: Application Software

Adobe (ADBE)

Market Price (10/26/2025): $353.53
Market Cap: $149.5 Bil
Sector: Information Technology
Industry: Application Software

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 36%		 Weak multi-year price returns
2Y Excs Rtn is -95%, 3Y Excs Rtn is -66%		 
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 42%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 41%, CFO LTM is 9.8 Bil, FCF LTM is 9.6 Bil		  
2 Attractive yield
FCF Yield is 6.4%		  
3 Low stock price volatility
Vol 12M is 33%		  
0 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 36%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 42%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 41%, CFO LTM is 9.8 Bil, FCF LTM is 9.6 Bil
2 Attractive yield
FCF Yield is 6.4%
3 Low stock price volatility
Vol 12M is 33%
4 Weak multi-year price returns
2Y Excs Rtn is -95%, 3Y Excs Rtn is -66%

Market Valuation & Key Metrics

ADBES&P 500
REVENUE GROWTHGOOD
Rev LTM ($ Bil)23.2
Rev Chg Q10.7%6.4%
Rev Chg LTM10.7%5.3%
Rev Chg 3Y Avg10.5%5.4%
PROFITABILITYVERY GOOD
Op Inc LTM ($ Bil)8.4
CFO LTM ($ Bil)9.8
Net Inc LTM ($ Bil)7.0
Op Mgn LTM36.2%18.7%
CFO/Rev LTM42.2%20.5%
Net Inc Mgn30.0%12.7%
VALUATIONMODERATE
P/S6.53.3
P/CFO15.316.1
P/FCF15.620.9
P/E21.524.0
STABILITYVERY GOOD
Debt/Equity0.040.21
Cash/Assets0.210.07

ADBE Stock

   
   
   
   
   
   
   

Return vs. Risk

Price Returns Compared

 202020212022202320242025Total [1]
Returns
ADBE Return52%13%-41%77%-25%-21%7%
Peers Return52%31%-28%57%21%12%205%
S&P 500 Return16%27%-19%24%23%15%110%

Monthly Win Rates [3]
ADBE Win Rate67%67%33%67%33%22% 
Peers Win Rate65%60%32%62%58%58% 
S&P 500 Win Rate58%75%42%67%75%67% 

Max Drawdowns [4]
ADBE Max Drawdown-14%-16%-51%-5%-27%-26% 
Peers Max Drawdown-24%-11%-39%-1%-11%-22% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 

[1] Cumulative total returns since the beginning of 2020
[2] Peers: ORCL, CRM, INTU, SNPS, ADSK. See ADBE Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/24/2025 (YTD)

How Low Can It Go

Unique KeyEventADBES&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-60.0%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven150.1%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-25.6%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven34.5%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven69 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-25.5%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven34.3%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven120 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-66.7%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven200.4%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven1592 days1480 days

Compare to ORCL, CRM, INTU, SNPS, ADSK


In The Past

Adobe's stock fell -60.0% during the 2022 Inflation Shock from a high on 11/19/2021. A -60.0% loss requires a 150.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Adobe (ADBE)

Interactive Breakdown

Adobe Interactive Breakdown Analysis

Better Bets than Adobe (ADBE)

 ADBEBetter Performance than ADBE
MetricValueIndustry (Application Software)
Rev Chg LTM10.7%PLTR (38.8%), SHOP (29.0%), INTU (15.6%), CDNS (22.3%), SNOW (28.4%)
Rev Chg 3Y Avg10.5%PLTR (25.7%), SHOP (26.0%), INTU (14.0%), CDNS (15.8%), SNOW (36.3%)
Op Mgn LTM36.2%FICO (44.2%)
CFO/Rev LTM42.2%PLTR (50.3%), DAVE (44.4%), NXTT (102.0%)
FCF/Rev LTM41.4%PLTR (49.7%), DAVE (42.8%), NXTT (102.0%)
Total Yield4.7%MSTR (6.0%), ZM (4.7%), SSNC (5.1%), OTEX (7.0%), DBX (6.1%)
 ADBEBetter Performance than ADBE
MetricValueAll Other Sectors
Rev Chg LTM10.7%GOOGL (13.1%), AMZN (10.9%), META (19.4%), LLY (36.8%), V (11.4%)
Rev Chg 3Y Avg10.5%AMZN (11.3%), META (13.0%), JPM (13.5%), LLY (23.4%), V (11.5%)
Op Mgn LTM36.2%META (42.9%), LLY (43.0%), V (66.5%), MA (58.0%), PM (37.1%)
CFO/Rev LTM42.2%META (56.4%), V (60.4%), MA (53.3%), APP (53.7%), RY (135.4%)
FCF/Rev LTM41.4%V (56.8%), MA (49.2%), APP (53.7%), RY (131.7%), SCHW (79.4%)
Total Yield4.7%JPM (6.7%), XOM (9.7%), JNJ (8.1%), BABA (36.1%), BAC (6.9%)
 Best Bets In Information Technology Sector
 ADBEVRSN NVDA RMBS QLYS ADBE YOU GEN IDCC DBX KLAC
What You Pay           
P/E21.528.452.449.525.121.516.628.121.216.538.5
P/EBIT17.220.545.043.923.517.219.610.316.914.031.6
What You Get           
Rev Chg Q10.7%7.3%55.6%30.3%10.3%10.7%17.5%30.3%34.5%-1.4%23.6%
Rev Chg LTM10.7%5.5%71.6%35.2%9.6%10.7%19.8%10.6%21.8%-0.0%23.9%
Rev Chg 3Y Avg10.5%5.2%92.0%18.7%12.5%10.5%35.5%14.8%23.3%4.1%10.4%
FCF/Rev 3Y Avg37.7%57.4%41.3%40.9%39.0%37.7%37.3%35.9%35.1%32.9%31.1%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 24%, alpha of 2.9%, and sharpe of 1.04

Latest Trefis Analyses

TitleTopicDate
0DASHBOARDS  
1Adobe Earnings Notes  
2ADBE Pays Out $43 Bil to Investors in 10 Years   
3High Margins, Lower Price: Is ADBE a Buy?Actionable 
4Adobe Stock Up 6.1%, Buy Or Wait?Return 
5ADBE Pulls Back to Support. Smart Time to Enter?Actionable 
6If You Like Cash Flow Machines Take A Look At ADBEActionable 
7How Does Adobe Stock Stack Up Against Its Peers?Peer Comparison 
8Better Bet Than ADBE Stock: Pay Less Than Adobe To Get More From OKE, CCL   
9Better Bet Than ADBE Stock: Pay Less Than Adobe To Get More From FSLR, IDCC   
10Day 5 of Loss Streak for Adobe Stock with -8.6% Return (vs. -24% YTD) [8/5/2025]Notification 
11ARTICLES  
12ADBE At Price Support Zone, Right Time To Buy? October 2nd, 2025
13With ORCL Up 28% in a Month, Is It Time to Compare It Against ADBE? October 2nd, 2025
14ADBE Generates Strong Cash So Why Are You Not Considering It? October 2nd, 2025
15As ORCL Surges 31% in a Month, ADBE’s Story Stands Out September 22nd, 2025
16ZM’s One-Month Rally Offers a Chance to Reevaluate ADBE September 17th, 2025
Title
0DASHBOARDS
1ADBE At Price Support Zone, Right Time To Buy?
2With ORCL Up 28% in a Month, Is It Time to Compare It Against ADBE?
3ADBE Generates Strong Cash So Why Are You Not Considering It?
4As ORCL Surges 31% in a Month, ADBE’s Story Stands Out
5ZM’s One-Month Rally Offers a Chance to Reevaluate ADBE
6ARTICLES
7Adobe Earnings Notes
8ADBE Pays Out $43 Bil to Investors in 10 Years 
9High Margins, Lower Price: Is ADBE a Buy?
10Adobe Stock Up 6.1%, Buy Or Wait?
11ADBE Pulls Back to Support. Smart Time to Enter?
12If You Like Cash Flow Machines Take A Look At ADBE
13How Does Adobe Stock Stack Up Against Its Peers?
14Better Bet Than ADBE Stock: Pay Less Than Adobe To Get More From OKE, CCL 
15Better Bet Than ADBE Stock: Pay Less Than Adobe To Get More From FSLR, IDCC 
16Day 5 of Loss Streak for Adobe Stock with -8.6% Return (vs. -24% YTD) [8/5/2025]

Trade Ideas

Select past ideas related to ADBE. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ADBE_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025ADBEAdobeMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		0.2%0.2%-6.7%
CRM_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025CRMSalesforceMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		7.5%7.5%-0.6%
MPWR_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025MPWRMonolithic Power SystemsMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		16.8%16.8%-1.8%
POWI_9262025_Dip_Buyer_High_CFO_Margins_ExInd_DE09262025POWIPower IntegrationsDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap		7.5%7.5%-13.4%
ROP_9262025_Monopoly_xInd_xCD_Getting_Cheaper09262025ROPRoper TechnologiesMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-3.9%-3.9%-3.9%
ADBE_3312025_Dip_Buyer_FCFYield03312025ADBEAdobeDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		-6.3%-7.8%-14.2%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ADBE_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025ADBEAdobeMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		0.2%0.2%-6.7%
CRM_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025CRMSalesforceMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		7.5%7.5%-0.6%
MPWR_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025MPWRMonolithic Power SystemsMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		16.8%16.8%-1.8%
POWI_9262025_Dip_Buyer_High_CFO_Margins_ExInd_DE09262025POWIPower IntegrationsDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap		7.5%7.5%-13.4%
ROP_9262025_Monopoly_xInd_xCD_Getting_Cheaper09262025ROPRoper TechnologiesMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-3.9%-3.9%-3.9%
ADBE_3312025_Dip_Buyer_FCFYield03312025ADBEAdobeDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		-6.3%-7.8%-14.2%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1VICRVicor57.5%87.2%
2INBXInhibrx Biosciences53.8%272.0%
3CLBCore Laboratories48.7%-2.4%
4BALYBallys46.2%6.8%
5MOFGMidWestOne Financial43.2%39.2%
6NUVBNuvation Bio42.2%82.3%
7CLOVClover Health Investments41.0%21.3%
8CELCCelcuity36.6%442.2%
9WGOWinnebago Industries33.6%-12.7%
10GTXGarrett Motion33.3%91.3%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1PMIPicard Medical-45.4%8328.6%
2ITGRInteger-30.4%-45.0%
3METCRamaco Resources-23.8%244.9%
4WRLDWorld Acceptance-18.6%25.6%
5ASMAvino Silver & Gold Mines-18.2%450.5%
6SESSES AI-17.6%15.5%
7SMPLSimply Good Foods-17.5%-48.0%
8TNGXTango Therapeutics-17.0%142.6%
9OKLOOklo-16.7%540.8%
10LENZLENZ Therapeutics-16.4%10.7%

1 Month Top Gainers

#TickerCompany1M RtnYTD Rtn
1WOLFWolfspeed1498.4%344.0%
2PRAXPraxis Precision Medicines253.2%126.1%
3NVTSNavitas Semiconductor116.1%294.1%
4SNDKSanDisk97.4% 
5UAMYUnited States Antimony90.3%578.5%
6GRALGRAIL85.2%400.8%
7BALYBallys82.9%6.8%
8ORKAOruka Therapeutics81.1%40.5%
9INBXInhibrx Biosciences79.9%272.0%
10CIFRCipher Mining77.2%345.3%

1 Month Top Losers

#TickerCompany1M RtnYTD Rtn
1VGVenture Global-35.7% 
2PMIPicard Medical-35.3%8328.6%
3SOCSable Offshore-33.7%-41.7%
4FWRDForward Air-28.9%-39.0%
5FLYFirefly Aerospace-28.5% 
6ITGRInteger-28.4%-45.0%
7USNAUsana Health Sciences-26.5%-42.0%
8HTZHertz Global-26.3%41.5%
9RCReady Capital-25.1%-50.3%
10ULHUniversal Logistics-24.8%-61.0%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1VICRVicor57.5%87.2%
2INBXInhibrx Biosciences53.8%272.0%
3CLBCore Laboratories48.7%-2.4%
4BALYBallys46.2%6.8%
5MOFGMidWestOne Financial43.2%39.2%
6NUVBNuvation Bio42.2%82.3%
7CLOVClover Health Investments41.0%21.3%
8CELCCelcuity36.6%442.2%
9WGOWinnebago Industries33.6%-12.7%
10GTXGarrett Motion33.3%91.3%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1PMIPicard Medical-45.4%8328.6%
2ITGRInteger-30.4%-45.0%
3METCRamaco Resources-23.8%244.9%
4WRLDWorld Acceptance-18.6%25.6%
5ASMAvino Silver & Gold Mines-18.2%450.5%
6SESSES AI-17.6%15.5%
7SMPLSimply Good Foods-17.5%-48.0%
8TNGXTango Therapeutics-17.0%142.6%
9OKLOOklo-16.7%540.8%
10LENZLENZ Therapeutics-16.4%10.7%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Adobe

Financials

ADBEORCLCRMINTUSNPSADSKMedian
NameAdobe Oracle Salesfor.Intuit Synopsys Autodesk  
Mkt Price353.53283.30255.00682.50464.40312.88333.20
Mkt Cap149.5800.6243.8191.174.466.6170.3
Rev LTM23,18159,01839,50218,8316,4356,60521,006
Op Inc LTM8,40218,6678,3814,9421,1041,5156,662
FCF LTM9,599-5,88012,4976,0831,3021,8473,965
FCF 3Y Avg7,9254,94910,5065,1681,3001,7045,058
CFO LTM9,79221,53413,1696,2071,4421,9258,000
CFO 3Y Avg8,18519,46811,2145,3791,4611,7756,782

Growth & Margins

ADBEORCLCRMINTUSNPSADSKMedian
NameAdobe Oracle Salesfor.Intuit Synopsys Autodesk  
Rev Chg LTM10.7%9.7%8.3%15.6%8.0%13.8%10.2%
Rev Chg 3Y Avg10.5%10.2%10.5%14.0%9.7%11.7%10.5%
Rev Chg Q10.7%12.2%9.8%20.3%14.0%17.1%13.1%
QoQ Delta Rev Chg LTM2.6%2.8%2.4%3.6%3.4%4.1%3.1%
Op Mgn LTM36.2%31.6%21.2%26.2%17.2%22.9%24.6%
Op Mgn 3Y Avg35.4%30.3%17.8%23.9%21.6%21.5%22.8%
QoQ Delta Op Mgn LTM-0.1%0.2%0.7%0.5%-3.7%0.8%0.4%
CFO/Rev LTM42.2%36.5%33.3%33.0%22.4%29.1%33.1%
CFO/Rev 3Y Avg39.0%35.6%30.6%32.7%26.3%30.7%31.7%
FCF/Rev LTM41.4%-10.0%31.6%32.3%20.2%28.0%29.8%
FCF/Rev 3Y Avg37.7%9.8%28.6%31.4%23.4%29.5%29.1%

Valuation

ADBEORCLCRMINTUSNPSADSKMedian
NameAdobe Oracle Salesfor.Intuit Synopsys Autodesk  
Mkt Cap149.5800.6243.8191.174.466.6170.3
P/S6.513.66.210.111.610.110.1
P/EBIT17.244.329.137.650.847.241.0
P/E21.564.436.649.437.263.943.3
P/CFO15.337.218.530.851.634.632.7
Total Yield4.7%2.2%3.2%2.6%2.7%1.6%2.7%
Dividend Yield0.0%0.6%0.5%0.6%0.0%0.0%0.2%
FCF Yield 3Y Avg4.0%1.6%4.4%3.0%1.7%3.3%3.1%
D/E0.00.10.00.00.20.00.0
Net D/E0.00.1-0.00.00.20.00.0

Returns

ADBEORCLCRMINTUSNPSADSKMedian
NameAdobe Oracle Salesfor.Intuit Synopsys Autodesk  
1M Rtn-1.9%0.1%4.7%-2.0%-4.8%-3.1%-1.9%
3M Rtn-4.6%15.8%-5.1%-12.9%-22.8%3.2%-4.9%
6M Rtn-3.9%105.4%-4.5%9.8%3.9%15.9%6.9%
12M Rtn-26.9%64.9%-11.7%12.9%-7.5%9.4%1.0%
3Y Rtn10.9%291.3%61.2%65.1%60.5%48.9%60.9%
1M Excs Rtn-3.0%-5.4%2.9%-4.0%-7.6%-5.1%-4.6%
3M Excs Rtn-10.6%8.3%-11.8%-20.6%-28.0%-3.5%-11.2%
6M Excs Rtn-26.8%82.5%-27.5%-13.1%-19.0%-7.0%-16.1%
12M Excs Rtn-44.4%47.2%-27.2%-3.3%-23.7%-7.6%-15.6%
3Y Excs Rtn-65.9%259.7%-16.2%-10.5%-23.2%-25.0%-19.7%

Comparison Analyses

Financials

$ Mil | FY: 11/292025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q12022Q4
Period End8/29/20255/30/20252/28/202511/29/20248/30/20245/31/20243/1/202412/1/20239/1/20236/2/20233/3/202312/2/2022
Filing Date9/24/20256/25/20253/26/20251/13/20259/25/20246/26/20243/27/20241/17/20249/27/20236/28/20233/29/20231/17/2023
Key Financials Quarterly            
Total Revenue5,9885,8735,7145,6065,4085,3095,1825,0484,8904,8164,6554,525
Ebitda2,4622,3782,4612,2592,3062,1851,2072,0581,9881,8961,8421,760
Operating Income2,1732,1092,1631,9571,9921,8851,9071,7431,6971,6241,5861,505
Net Income1,7721,6911,8111,6831,6841,5736201,4831,4031,2951,2471,176
EPS4.183.954.153.813.783.501.373.263.072.832.722.53
Key Financials TTM            
Total Revenue TTM23,18122,60122,03721,50520,94720,42919,93619,40918,88618,42917,99917,606
Ebitda TTM9,5609,4049,2117,9577,7567,4387,1497,7847,4867,1987,0346,976
Operating Income TTM8,4028,2217,9977,7417,5277,2326,9716,6506,4126,1996,1046,098
Net Income TTM6,9576,8696,7515,5605,3605,0794,8015,4285,1214,8544,7374,756
Growth Rates Quarterly            
Total Revenue Growth10.7%10.6%10.3%11.1%10.6%10.2%11.3%11.6%10.3%9.8%9.2%10.1%
EBITDA Growth6.8%8.8%103.9%9.8%16.0%15.2%-34.5%16.9%16.9%9.5%3.3%3.5%
Operating Income Growth9.1%11.9%13.4%12.3%17.4%16.1%20.2%15.8%14.4%6.2%0.4%0.3%
Net Income Growth5.2%7.5%192.1%13.5%20.0%21.5%-50.3%26.1%23.5%9.9%-1.5%-4.6%
Margins Quarterly            
EBITDA Margin41.1%40.5%43.1%40.3%42.6%41.2%23.3%40.8%40.7%39.4%39.6%38.9%
Operating Income Margin36.3%35.9%37.9%34.9%36.8%35.5%36.8%34.5%34.7%33.7%34.1%33.3%
Net Income Margin29.6%28.8%31.7%30.0%31.1%29.6%12.0%29.4%28.7%26.9%26.8%26.0%
Cash & Debt            
Total Cash5,9405,7137,4357,8867,5158,0656,8207,8427,5166,6015,6536,096
Total Debt6,6366,5636,5636,0566,0786,0904,0864,0804,0964,1134,1264,633
Net Debt / (Cash)696850-872-1,830-1,437-1,975-2,734-3,762-3,420-2,488-1,527-1,463
Cash Flows Quarterly            
FCF from Operations2,1982,1912,4822,9212,0211,9401,1741,5971,8732,1391,6932,325
Cash Flows TTM            
FCF from Operations TTM9,7929,6159,3648,0566,7326,5846,7837,3028,0307,8617,7627,838
Returns to Shareholders Quarterly            
Dividends000000000000
Share Repurchases2,0573,5003,2502,5002,5002,5002,0001,0001,0001,0001,4001,750
Return on Invested Capital (ROIC) Quarterly            
ROIC1011.9%798.8%----------
Return on Invested Capital (ROIC) TTM            
ROIC TTM992.6%798.9%----------

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Digital Media14,21612,84211,5209,2337,707
Digital Experience4,8934,4223,8673,1252,795
Publishing and Advertising300342398510669
Total19,40917,60615,78512,86811,171


Price Behavior

ADBE Betas & Captures as of 9/30/2025

 1M2M3M6M1Y3Y
Beta0.590.660.560.800.921.19
Up Beta0.000.340.150.700.711.07
Down Beta5.381.851.750.900.991.15
Up Capture-7%30%3%56%67%178%
Bmk +ve Days13233574144420
Stock +ve Days9202763124377
Down Capture26%72%97%109%120%107%
Bmk -ve Days8192952107330
Stock -ve Days12213561125371

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date10152025
Short Interest: Shares Quantity11,532,326
Short Interest: % Change Since 93020252.6%
Average Daily Volume3,847,233
Days-to-Cover Short Interest3
Basic Shares Quantity423,000,000
Short % of Basic Shares2.7%

Returns Analyses

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
9/11/2025-0.3%4.8%-3.7%
6/12/2025-5.3%-8.9%-12.5%
3/12/2025-13.9%-11.6%-20.2%
12/11/2024-13.7%-19.8%-25.0%
9/12/2024-8.5%-10.2%-15.5%
6/13/202414.5%16.3%23.5%
3/14/2024-13.7%-10.4%-17.6%
12/13/2023-6.3%-4.5%-4.3%
...
SUMMARY STATS   
# Positive81111
# Negative171414
Median Positive4.4%6.2%10.2%
Median Negative-5.3%-9.6%-11.5%
Max Positive17.7%16.3%23.5%
Max Negative-16.8%-22.9%-25.0%

SEC Filings

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Report DateFiling DateFiling
8312025924202510-Q 8/29/2025
5312025625202510-Q 5/30/2025
2282025326202510-Q 2/28/2025
11302024113202510-K 11/29/2024
8312024925202410-Q 8/30/2024
5312024626202410-Q 5/31/2024
2292024327202410-Q 3/1/2024
11302023117202410-K 12/1/2023
8312023927202310-Q 9/1/2023
5312023628202310-Q 6/2/2023
2282023329202310-Q 3/3/2023
11302022117202310-K 12/2/2022
8312022928202210-Q 9/2/2022
5312022629202210-Q 6/3/2022
2282022330202210-Q 3/4/2022
11302021121202210-K 12/3/2021

Insider Activity

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 OwnerTitleFiling DateActionPriceSharesTransacted
Value		Value of
Held Shares		Form
0Forusz JillianSVP & CAO5062025Sell380.58462175,8281,078,741Form
1Durn DanielEVP & CFO3212025Buy390.34990386,44111,540,964Form
2Ricks David A1302025Buy443.982,250998,9462,212,776Form
3Banse Amy 12102024Sell550.00606333,30018,110,950Form
4Forusz JillianSVP & CAO10312024Sell484.97676327,9871,316,931Form

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