Tearsheet
Investment Highlights Market Valuation Price Chart Business Description Interactive Breakdown Latest Trefis Analyses Better Bets vs. ADBE 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 (9/17/2025): $352.3 | Market Cap: $150.8 Bil
Sector: Information Technology | Industry: Application Software

Adobe (ADBE)

Market Price (9/17/2025): $352.3
Market Cap: $150.8 Bil
Sector: Information Technology
Industry: Application Software

Investment Highlights

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 -83%, 3Y Excs Rtn is -73%		 
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 43%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 42%, CFO LTM is 9.6 Bil, FCF LTM is 9.4 Bil		  
2 Attractive yield
FCF Yield is 6.3%		  
3 Low stock price volatility
Vol 12M is 34%		  
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 43%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 42%, CFO LTM is 9.6 Bil, FCF LTM is 9.4 Bil
2 Attractive yield
FCF Yield is 6.3%
3 Low stock price volatility
Vol 12M is 34%
4 Weak multi-year price returns
2Y Excs Rtn is -83%, 3Y Excs Rtn is -73%

Market Valuation

 9/17/252024202320222021
Share Price CYE$352.30$444.68$596.60$336.53$567.06
Market Cap CYE ($ Bil)150.8196.3271.1156.5268.8
Total Debt ($ Bil)6.66.14.14.64.7
Total Cash ($ Bil)5.77.97.86.15.8
Enterprise Value ($ Bil)151.6202.4275.2161.1273.5
Valuation Ratios     
P/S TTM6.79.214.19.017.1
P/EBIT TTM17.628.039.525.846.5
P/E TTM21.935.850.233.256.1
Sector Ratios     
P/S TTM (Sector)3.23.12.82.55.0
P/EBIT TTM (Sector)4.0-0.0-0.1-0.51.7
P/E TTM (Sector)-0.4-0.3-0.4-0.50.0
 9/17/2520242023
Share Price CYE$352.30$444.68$596.60
Market Cap CYE ($ Bil)150.8196.3271.1
Total Debt ($ Bil)6.66.14.1
Total Cash ($ Bil)5.77.97.8
Enterprise Value ($ Bil)151.6202.4275.2
Valuation Ratios   
P/S TTM6.79.214.1
P/EBIT TTM17.628.039.5
P/E TTM21.935.850.2
Sector Ratios   
P/S TTM (Sector)3.23.12.8
P/EBIT TTM (Sector)4.0-0.0-0.1
P/E TTM (Sector)-0.4-0.3-0.4

Market Cap Chart

Business Description

Adobe Inc. operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. Show more

Price Returns Compared

Expand for Detailed View

 202020212022202320242025Total [1]
Returns
ADBE Return52%13%-41%77%-25%-21%6%
Peers Return52%31%-28%57%21%11%202%
S&P 500 Return16%27%-19%24%23%12%104%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: ORCL, CRM, INTU, SNPS, ADSK. See ADBE Returns vs. Peers.
[3] 2025 data is for the year up to 9/16/2025 (YTD)

Interactive Breakdown

Adobe Interactive Breakdown Analysis

Better Bets than Adobe (ADBE)

 ADBEBetter Performance than ADBE
MetricValueIndustry (Application Software)
Rev Chg LTM10.6%PLTR (38.8%), SHOP (29.0%), INTU (15.6%), CDNS (22.3%), SNOW (28.4%)
Rev Chg 3Y Avg10.6%ORCL (10.7%), PLTR (25.7%), SHOP (26.0%), INTU (14.0%), CDNS (15.8%)
Op Mgn LTM36.4%FICO (44.2%)
CFO/Rev LTM42.5%PLTR (50.3%), DAVE (44.4%)
FCF/Rev LTM41.8%PLTR (49.7%), DAVE (42.8%)
Total Yield4.5%MSTR (5.2%), ZM (4.6%), SSNC (4.9%), OTEX (7.5%), DBX (5.5%)
 ADBEBetter Performance than ADBE
MetricValueAll Other Sectors
Rev Chg LTM10.6%GOOGL (13.1%), AMZN (10.9%), META (19.4%), LLY (36.8%), V (11.4%)
Rev Chg 3Y Avg10.6%AMZN (11.3%), META (13.0%), TSLA (12.9%), BRK-B (16.6%), JPM (13.5%)
Op Mgn LTM36.4%META (42.9%), LLY (43.0%), V (66.5%), MA (58.0%), PM (36.4%)
CFO/Rev LTM42.5%META (56.4%), V (60.4%), MA (53.3%), RY (135.4%), APP (53.7%)
FCF/Rev LTM41.8%V (56.8%), MA (49.2%), RY (131.7%), APP (53.7%), SCHW (79.4%)
Total Yield4.5%BRK-B (5.9%), JPM (6.6%), XOM (9.7%), JNJ (8.2%), HD (5.7%)

Latest Trefis Analyses

TitleTopicDate
0DASHBOARDS  
1Adobe Earnings Notes  
2This Is the Kind of Cash Yield You Usually Look For, So Why Not ADBE?Actionable 
3How Does ADBE Stack Up Against Its Peers?Peer Comparison 
4Better Bet Than ADBE Stock: Pay Less Than Adobe To Get More From OKE, CCL   
5Better Bet Than ADBE Stock: Pay Less Than Adobe To Get More From FSLR, IDCC   
6Day 5 of Loss Streak for Adobe Stock with -8.6% Return (vs. -24% YTD) [8/5/2025]Notification 
7ORCL or ADBE - With 44% Return Forecast, ADBE Probably Deserves Your MoneyPeer Comparison 
8ADBE Could Deliver 44% Returns And Outperform ORCLPeer Comparison 
9Better Bet Than ADBE Stock: Pay Less Than Adobe To Get More From NICE Actionable 
10What If You Were Missing The Value In ADBE Stock?Actionable 
11ARTICLES  
12How Will Adobe Stock React To Its Upcoming Earnings? September 8th, 2025
13ZM Jumps 16% in a Month, But Does ADBE Offer Better Fundamentals? September 4th, 2025
14ADBE Is Producing Cash, What Is Holding You Back? August 19th, 2025
15ADBE Stock Down -8.6% after 5-Day Loss Streak August 6th, 2025
16Stocks Trading At 52-Week Low August 5th, 2025
Title
0DASHBOARDS
1How Will Adobe Stock React To Its Upcoming Earnings?
2ZM Jumps 16% in a Month, But Does ADBE Offer Better Fundamentals?
3ADBE Is Producing Cash, What Is Holding You Back?
4ADBE Stock Down -8.6% after 5-Day Loss Streak
5Stocks Trading At 52-Week Low
6ARTICLES
7Adobe Earnings Notes
8This Is the Kind of Cash Yield You Usually Look For, So Why Not ADBE?
9How Does ADBE Stack Up Against Its Peers?
10Better Bet Than ADBE Stock: Pay Less Than Adobe To Get More From OKE, CCL 
11Better Bet Than ADBE Stock: Pay Less Than Adobe To Get More From FSLR, IDCC 
12Day 5 of Loss Streak for Adobe Stock with -8.6% Return (vs. -24% YTD) [8/5/2025]
13ORCL or ADBE - With 44% Return Forecast, ADBE Probably Deserves Your Money
14ADBE Could Deliver 44% Returns And Outperform ORCL
15Better Bet Than ADBE Stock: Pay Less Than Adobe To Get More From NICE 
16What If You Were Missing The Value In ADBE Stock?

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1BDSXBiodesix1313.2%-78.6%
2CLSDClearside Biomedical954.0%-74.9%
3SDOTSadot624.1%-79.4%
4WLDSWearable Devices498.0%-30.0%
5CHEKCheck-Cap285.6%154.6%
6ATCHAtlasClear275.9%-91.0%
7HSDTHelius Medical Technologies262.5%-95.6%
8OPIOffice Properties Income Trust261.7%-13.4%
9FGIFGI Industries156.8%145.2%
10AIREReAlpha Tech154.0%-56.1%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1NAKAKindly MD-81.4% 
2ATYRaTyr Pharma-79.7%-70.2%
3LGCLLucas GC-73.6%-77.1%
4EPSMEpsium Enterprise-70.1% 
5BNGOBionano Genomics-59.4%-89.7%
6FAASDigiAsia-58.5%-87.2%
7QMMMQMMM-57.5%6775.0%
8VCIGVCI Global-56.9%-99.1%
9YYGHYY-56.6%-78.5%
10XAGELongevity Health-55.5%-86.1%

1 Month Top Gainers

#TickerCompany1M RtnYTD Rtn
1PMIPicard Medical11963.5%11963.5%
2GIBOGIBO9734.4% 
3CHSNChanson International7565.0%-99.3%
4LNZALanzaTech Global7287.5%-86.0%
5QMMMQMMM3031.7%6775.0%
6OESXOrion Energy Systems1497.9%22.9%
7CURXCuranex Pharmaceuticals1401.6%1401.6%
8ENTOEntero Therapeutics565.6%117.6%
9PTNMPitanium553.2% 
10WLDSWearable Devices449.5%-30.0%

1 Month Top Losers

#TickerCompany1M RtnYTD Rtn
1CJETChijet Motor-92.2%-95.0%
2STFSStar Fashion Culture-92.2%-97.8%
3ELPWElong Power-91.6%-76.7%
4NXTTNext Technology-89.6%-95.1%
5NAKAKindly MD-89.0% 
6BINIBollinger Innovations-88.9%-100.0%
7JEM707 Cayman-88.4%-98.2%
8YAASYouxin Technology-82.5%-98.3%
9NEONNeonode-82.0%-50.2%
10NVNOenVVeno Medical-81.5%-69.8%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1BDSXBiodesix1313.2%-78.6%
2CLSDClearside Biomedical954.0%-74.9%
3SDOTSadot624.1%-79.4%
4WLDSWearable Devices498.0%-30.0%
5CHEKCheck-Cap285.6%154.6%
6ATCHAtlasClear275.9%-91.0%
7HSDTHelius Medical Technologies262.5%-95.6%
8OPIOffice Properties Income Trust261.7%-13.4%
9FGIFGI Industries156.8%145.2%
10AIREReAlpha Tech154.0%-56.1%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1NAKAKindly MD-81.4% 
2ATYRaTyr Pharma-79.7%-70.2%
3LGCLLucas GC-73.6%-77.1%
4EPSMEpsium Enterprise-70.1% 
5BNGOBionano Genomics-59.4%-89.7%
6FAASDigiAsia-58.5%-87.2%
7QMMMQMMM-57.5%6775.0%
8VCIGVCI Global-56.9%-99.1%
9YYGHYY-56.6%-78.5%
10XAGELongevity Health-55.5%-86.1%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Adobe

Financials

ADBEORCLCRMINTUSNPSADSKMedian
NameAdobe Oracle Salesfor.Intuit Synopsys Autodesk  
Mkt Price352.73306.65238.89651.30425.97318.51335.62
Mkt Cap151.0860.8228.4182.468.267.8166.7
Rev LTM22,60157,39939,50218,8316,4356,60520,716
Op Inc LTM8,22118,0528,3814,9421,1041,5156,582
FCF LTM9,437-39412,4976,0831,3021,8473,965
FCF 3Y Avg7,7436,62810,5065,1681,3001,7045,898
CFO LTM9,61520,82113,1696,2071,4421,9257,911
CFO 3Y Avg8,02018,88611,2145,3791,4611,7756,700

Growth & Margins

ADBEORCLCRMINTUSNPSADSKMedian
NameAdobe Oracle Salesfor.Intuit Synopsys Autodesk  
Rev Chg LTM10.6%8.4%8.3%15.6%8.0%13.8%9.5%
Rev Chg 3Y Avg10.6%10.7%10.5%14.0%9.7%11.7%10.7%
Rev Chg Q10.6%11.3%9.8%20.3%14.0%17.1%12.7%
QoQ Delta Rev Chg LTM2.6%2.9%2.4%3.6%3.4%4.1%3.2%
Op Mgn LTM36.4%31.5%21.2%26.2%17.2%22.9%24.6%
Op Mgn 3Y Avg35.1%29.8%17.8%23.9%21.6%21.5%22.8%
QoQ Delta Op Mgn LTM0.1%-0.4%0.7%0.5%-3.7%0.8%0.3%
CFO/Rev LTM42.5%36.3%33.3%33.0%22.4%29.1%33.1%
CFO/Rev 3Y Avg39.1%35.3%30.6%32.7%26.3%30.7%31.7%
FCF/Rev LTM41.8%-0.7%31.6%32.3%20.2%28.0%29.8%
FCF/Rev 3Y Avg37.7%12.9%28.6%31.4%23.4%29.5%29.1%

Valuation

ADBEORCLCRMINTUSNPSADSKMedian
NameAdobe Oracle Salesfor.Intuit Synopsys Autodesk  
Mkt Cap151.0860.8228.4182.468.267.8166.7
P/S6.715.05.89.710.610.310.0
P/EBIT17.748.527.235.946.648.041.2
P/E22.069.234.347.134.265.040.7
P/CFO15.741.317.329.447.335.232.3
Total Yield4.5%2.0%3.4%2.8%2.9%1.5%2.9%
Dividend Yield0.0%0.6%0.5%0.7%0.0%0.0%0.3%
FCF Yield 3Y Avg3.9%1.9%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-0.6%23.5%-1.5%-9.1%-31.1%11.1%-1.0%
3M Rtn-7.8%47.6%-9.1%-14.7%-10.4%7.3%-8.5%
6M Rtn-9.9%106.4%-14.0%9.1%-4.9%22.5%2.1%
12M Rtn-32.4%81.9%-6.5%1.4%-14.6%19.0%-2.5%
3Y Rtn17.8%363.9%59.1%57.1%35.6%63.4%58.1%
1M Excs Rtn-3.0%21.1%-3.9%-11.6%-33.5%8.7%-3.5%
3M Excs Rtn-21.7%36.1%-19.0%-24.6%-20.7%-3.1%-19.8%
6M Excs Rtn-28.1%83.8%-31.1%-7.9%-22.5%5.8%-15.2%
12M Excs Rtn-57.9%73.9%-23.2%-16.7%-30.9%4.7%-19.9%
3Y Excs Rtn-73.1%258.2%-14.2%-14.8%-37.2%-12.0%-14.5%

Comparison Analyses

Financials

$ Mil | FY: 11/292025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q12022Q42022Q3
Period End5/30/20252/28/202511/29/20248/30/20245/31/20243/1/202412/1/20239/1/20236/2/20233/3/202312/2/20229/2/2022
Filing Date6/25/20253/26/20251/13/20259/25/20246/26/20243/27/20241/17/20249/27/20236/28/20233/29/20231/17/20239/28/2022
Key Financials Quarterly            
Total Revenue5,8735,7145,6065,4085,3095,1825,0484,8904,8164,6554,5254,433
Ebitda2,3782,4612,2592,3062,1851,2072,0581,9881,8961,8421,7601,700
Operating Income2,1092,1631,9571,9921,8851,9071,7431,6971,6241,5861,5051,484
Net Income1,6911,8111,6831,6841,5736201,4831,4031,2951,2471,1761,136
EPS3.954.153.813.783.501.373.263.072.832.722.532.42
Key Financials TTM            
Total Revenue TTM22,60122,03721,50520,94720,42919,93619,40918,88618,42917,99917,60617,191
Ebitda TTM9,4049,2117,9577,7567,4387,1497,7847,4867,1987,0346,9766,917
Operating Income TTM8,2217,9977,7417,5277,2326,9716,6506,4126,1996,1046,0986,094
Net Income TTM6,8696,7515,5605,3605,0794,8015,4285,1214,8544,7374,7564,813
Growth Rates Quarterly            
Total Revenue Growth10.6%10.3%11.1%10.6%10.2%11.3%11.6%10.3%9.8%9.2%10.1%12.7%
EBITDA Growth8.8%103.9%9.8%16.0%15.2%-34.5%16.9%16.9%9.5%3.3%3.5%3.8%
Operating Income Growth11.9%13.4%12.3%17.4%16.1%20.2%15.8%14.4%6.2%0.4%0.3%3.0%
Net Income Growth7.5%192.1%13.5%20.0%21.5%-50.3%26.1%23.5%9.9%-1.5%-4.6%-6.3%
Margins Quarterly            
EBITDA Margin40.5%43.1%40.3%42.6%41.2%23.3%40.8%40.7%39.4%39.6%38.9%38.3%
Operating Income Margin35.9%37.9%34.9%36.8%35.5%36.8%34.5%34.7%33.7%34.1%33.3%33.5%
Net Income Margin28.8%31.7%30.0%31.1%29.6%12.0%29.4%28.7%26.9%26.8%26.0%25.6%
Cash & Debt            
Total Cash5,7137,4357,8867,5158,0656,8207,8427,5166,6015,6536,0965,764
Total Debt6,5636,5636,0566,0786,0904,0864,0804,0964,1134,1264,6334,641
Net Debt / (Cash)850-872-1,830-1,437-1,975-2,734-3,762-3,420-2,488-1,527-1,463-1,123
Cash Flows Quarterly            
FCF from Operations2,1912,4822,9212,0211,9401,1741,5971,8732,1391,6932,3251,704
Cash Flows TTM            
FCF from Operations TTM9,6159,3648,0566,7326,5846,7837,3028,0307,8617,7627,8387,579
Returns to Shareholders Quarterly            
Dividends000000000000
Share Repurchases3,5003,2502,5002,5002,5002,0001,0001,0001,0001,4001,7501,200
Return on Invested Capital (ROIC) Quarterly            
ROIC798.8%-----------
Return on Invested Capital (ROIC) TTM            
ROIC TTM798.9%-----------

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 8/31/2025

 1M2M3M6M1Y3Y
Beta0.690.591.070.880.911.22
Up Beta0.190.210.350.710.761.07
Down Beta1.071.062.440.910.921.18
Up Capture63%5%27%73%60%188%
Bmk +ve Days10223571142415
Stock +ve Days11172964123377
Down Capture95%149%196%122%121%106%
Bmk -ve Days11192754106334
Stock -ve Days9233260124371

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

Short Interest

Short Interest: As Of Date8292025
Short Interest: Shares Quantity9,953,706
Short Interest: % Change Since 8152025-0.6%
Average Daily Volume2,971,533
Days-to-Cover Short Interest3.35
Basic Shares Quantity428,000,000
Short % of Basic Shares2.3%

Returns Analyses

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
9/11/2025-0.3%  
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   
# Positive81011
# Negative171514
Median Positive4.4%6.6%10.2%
Median Negative-5.3%-9.6%-12.5%
Max Positive17.7%16.3%23.5%
Max Negative-16.8%-22.9%-25.0%

SEC Filings

Expand for More

Report DateFiling DateFiling
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
8312021929202110-Q 9/3/2021

Insider Activity

Expand for More

 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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