Adobe Inc. — ADBE
| Close Price | Market Cap | P/E Ratio | Forward P/E Ratio | Implied Growth* | Implied Forward Growth* | Dividend | P/B Ratio |
|---|---|---|---|---|---|---|---|
| $326.95 | $136.86B | 20.4 | 15.9 | 11.5% | 8.8% | - | 11.7 |
Revenue & Net Income
| Date | Revenue | Net Income | EPS | Revenue Change | Net Income Change | EPS Change | |
|---|---|---|---|---|---|---|---|
| 0 | 2020-11-30 | $12.9B | $5.3B | $10.94 | N/A | N/A | N/A |
| 1 | 2021-11-30 | $15.8B | $4.8B | $10.10 | 22.7% | -8.3% | -7.7% |
| 2 | 2022-11-30 | $17.6B | $4.8B | $10.13 | 11.5% | -1.4% | 0.3% |
| 3 | 2023-11-30 | $19.4B | $5.4B | $11.87 | 10.2% | 14.1% | 17.2% |
| 4 | 2024-11-30 | $21.5B | $5.6B | $12.43 | 10.8% | 2.4% | 4.7% |
| 5 | Average | 13.8% | 1.7% | 3.6% |
EPS
Forecasts
Y/Y % Change
ADBE Year-over-Year Growth
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Average | |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth (%) | 22.7% | 11.5% | 10.2% | 10.8% | 10.1% | 9.2% | 12.4% | |
| Revenue Analysts (#) | 0 | 0 | 0 | 0 | 0 | 9 | 9 | |
| EPS Growth (%) | -8.3% | -1.4% | 14.1% | 2.4% | 56.4% | 13.5% | 12.8% | |
| EPS Analysts (#) | 0 | 0 | 0 | 0 | 0 | 12 | 12 |
Expenses
| Year | Revenue ($) | Cost of Revenue ($) | R&D ($) | Sales & Marketing ($) | G&A ($) | SG&A ($) | Facilities / D&A ($) |
|---|---|---|---|---|---|---|---|
| 2021 | $15.8B | $461.0M | $2.5B | $4.3B | $1.1B | $5.4B | $788.0M |
| 2022 | $17.6B | $622.0M | $3.0B | $5.0B | $1.2B | $6.2B | $856.0M |
| 2023 | $19.4B | $778.0M | $3.5B | $5.4B | $1.4B | $6.8B | $872.0M |
| 2024 | $21.5B | $813.0M | $3.9B | $5.8B | $1.5B | $7.3B | $857.0M |
| Year | Revenue Change (%) | Cost of Revenue Change (%) | R&D Change (%) | Sales & Marketing Change (%) | G&A Change (%) | SG&A Change (%) | Facilities / D&A Change (%) |
|---|---|---|---|---|---|---|---|
| 2022 | 11.54 | 34.92 | 17.60 | 14.97 | 12.35 | 14.45 | 8.63 |
| 2023 | 10.24 | 25.08 | 16.27 | 7.71 | 15.91 | 9.33 | 1.87 |
| 2024 | 10.80 | 4.50 | 13.56 | 7.72 | 8.21 | 7.82 | -1.72 |
No unmapped expenses.
Segment Performance
SEGMENTS v2025-09-09 · 2025-11-10 08:17 UTC — Units: $B. Rows list fiscal years (last 3 + TTM) with revenue and operating income for each segment; the final row shows the TTM revenue mix (operating income columns display “—” where mix is not applicable).
| Year | Subscription Revenue Rev | Subscription Revenue OI | Service Other Rev | Service Other OI | Prod Rev | Prod OI | Total Rev | Total OI |
|---|---|---|---|---|---|---|---|---|
| 2022 | 16.4B | 0.00B | 0.69B | 0.00B | 0.53B | 0.00B | 17.6B | 0.00B |
| 2023 | 18.3B | 0.00B | 0.67B | 0.00B | 0.46B | 0.00B | 19.4B | 0.00B |
| 2024 | 20.5B | 0.00B | 0.60B | 0.00B | 0.39B | 0.00B | 21.5B | 0.00B |
| TTM | 133.8B | 0.00B | 1.14B | 0.00B | 0.70B | 0.00B | 135.7B | 0.00B |
| % of Total (TTM) | 98.6% | — | 0.8% | — | 0.5% | — | 100% | — |
SEGMENTS v2025-09-09 · 2025-11-10 08:17 UTC — Units: $B. Rows list fiscal years (last 3 + TTM) with revenue and operating income for each segment; the final row shows the TTM revenue mix (operating income columns display “—” where mix is not applicable).
| Year | Digital Media Rev | Digital Media OI | Digital Experience Rev | Digital Experience OI | Publishing And Advertising Rev | Publishing And Advertising OI | Total Rev | Total OI |
|---|---|---|---|---|---|---|---|---|
| 2022 | 25.7B | 0.00B | 4.42B | 0.00B | 0.34B | 0.00B | 30.4B | 0.00B |
| 2023 | 28.4B | 0.00B | 4.89B | 0.00B | 0.30B | 0.00B | 33.6B | 0.00B |
| 2024 | 31.7B | 0.00B | 5.37B | 0.00B | 0.28B | 0.00B | 37.4B | 0.00B |
| TTM | 49.2B | 0.00B | 11.2B | 0.00B | 0.53B | 0.00B | 60.9B | 0.00B |
| % of Total (TTM) | 80.8% | — | 18.4% | — | 0.9% | — | 100% | — |
Balance Sheet
| Metric | Value | |
|---|---|---|
| 0 | Total Assets | $28,754M |
| 1 | Cash | $4,982M |
| 2 | Total Liabilities | $16,984M |
| 3 | Total Debt | $6,636M |
| 4 | Total Equity | $11,770M |
| 5 | Debt to Equity Ratio | 0.56 |
EPS & Dividend
Valuation
| Share Price | Treasury Yield | Estimates | Fair Value (P/E) | Fair Value (P/S) | Current P/S | Current P/E |
|---|---|---|---|---|---|---|
| $376.92 | 4.4% | Nicks Growth: 12% Nick's Expected Margin: 25% FINVIZ Growth: 12% |
Nicks: 21 Finviz: 22 |
Nick's: 5.213 | 7.1 | 24.2 |
| Basis | Year | Nicks Valuation | Nicks vs Share Price | Finviz Valuation | Finviz vs Share Price |
|---|---|---|---|---|---|
| $15.14 EPS | TTM | $315.69 | -16.2% | $326.41 | -13.4% |
| $20.60 EPS | 2025 | $429.54 | 14.0% | $444.12 | 17.8% |
| $23.25 EPS | 2026 | $484.79 | 28.6% | $501.25 | 33.0% |
Implied Growth
| Average | Median | Std Dev | Current | Percentile | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| TTM | Forward | TTM | Forward | TTM | Forward | TTM | Forward | TTM | Forward | |
| Timeframe | ||||||||||
| 1 Year | 12.67% | 9.82% | 12.57% | 9.72% | 0.62% | 0.52% | 11.47% | 8.85% | 1.9% | 1.9% |
| 3 Years | 12.67% | 9.82% | 12.57% | 9.72% | 0.62% | 0.52% | 11.47% | 8.85% | 1.9% | 1.9% |
| 5 Years | 12.67% | 9.82% | 12.57% | 9.72% | 0.62% | 0.52% | 11.47% | 8.85% | 1.9% | 1.9% |
| 10 Years | 12.67% | 9.82% | 12.57% | 9.72% | 0.62% | 0.52% | 11.47% | 8.85% | 1.9% | 1.9% |