Adobe Inc. — ADBE
| Close Price | Market Cap | P/E Ratio | Forward P/E Ratio | Implied Growth* | Implied Forward Growth* | Dividend | P/B Ratio |
|---|---|---|---|---|---|---|---|
| $347.43 | $147.38B | 22.3 | 16.9 | 12.4% | 9.5% | - | 13.0 |
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 | $12.43 | 10.8% | 2.4% | 4.7% |
| 5 | Average | 13.8% | 1.7% | 3.6% |
EPS
Forecasts
Y/Y % Change
ADBE Year-over-Year Growth
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Average | |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth (%) | 22.7% | 11.5% | 10.2% | 10.8% | 9.5% | 9.3% | 12.3% | |
| Revenue Analysts (#) | 0 | 0 | 0 | 0 | 0 | 11 | 11 | |
| EPS Growth (%) | -8.3% | -1.4% | 14.1% | 2.4% | 57.4% | 12.8% | 12.8% | |
| EPS Analysts (#) | 0 | 0 | 0 | 0 | 0 | 13 | 13 |
Expenses
| Year | Revenue ($) | 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 · 2025-09-05 14:55 UTC — Values are shown in a single scale for this table: $B. TTM values are bold. “% of Total (TTM)” shows revenue mix.
| Segment | 2022 Rev ($B) | 2022 OI ($B) | 2023 Rev ($B) | 2023 OI ($B) | 2024 Rev ($B) | 2024 OI ($B) | TTM Rev ($B) | TTM OI ($B) | % of Total (TTM) |
|---|---|---|---|---|---|---|---|---|---|
| Subscription Revenue | 16.4B | 0.00B | 18.3B | 0.00B | 20.5B | 0.00B | 104B | 0.00B | 98.4% |
| Service Other | 0.69B | 0.00B | 0.67B | 0.00B | 0.60B | 0.00B | 1.02B | 0.00B | 1.0% |
| Product | 0.53B | 0.00B | 0.46B | 0.00B | 0.39B | 0.00B | 0.66B | 0.00B | 0.6% |
SEGMENTS v2025-09-09 · 2025-09-05 14:55 UTC — Values are shown in a single scale for this table: $B. TTM values are bold. “% of Total (TTM)” shows revenue mix.
| Segment | 2022 Rev ($B) | 2022 OI ($B) | 2023 Rev ($B) | 2023 OI ($B) | 2024 Rev ($B) | 2024 OI ($B) | TTM Rev ($B) | TTM OI ($B) | % of Total (TTM) |
|---|---|---|---|---|---|---|---|---|---|
| Digital Media | 25.7B | 0.00B | 28.4B | 0.00B | 31.7B | 0.00B | 44.6B | 0.00B | 81.4% |
| Digital Experience | 4.42B | 0.00B | 4.89B | 0.00B | 5.37B | 0.00B | 9.69B | 0.00B | 17.7% |
| Publishing And Advertising | 0.34B | 0.00B | 0.30B | 0.00B | 0.28B | 0.00B | 0.49B | 0.00B | 0.9% |
Balance Sheet
| Metric | Value | |
|---|---|---|
| 0 | Total Assets | $29,955M |
| 1 | Cash | $6,758M |
| 2 | Total Liabilities | $16,860M |
| 3 | Total Debt | $6,563M |
| 4 | Total Equity | $13,095M |
| 5 | Debt to Equity Ratio | 0.50 |
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 | 13.08% | 10.12% | 13.14% | 10.20% | 0.48% | 0.47% | 12.53% | 9.47% | 15.5% | 10.3% |
| 3 Years | 13.08% | 10.12% | 13.14% | 10.20% | 0.48% | 0.47% | 12.53% | 9.47% | 15.5% | 10.3% |
| 5 Years | 13.08% | 10.12% | 13.14% | 10.20% | 0.48% | 0.47% | 12.53% | 9.47% | 15.5% | 10.3% |
| 10 Years | 13.08% | 10.12% | 13.14% | 10.20% | 0.48% | 0.47% | 12.53% | 9.47% | 15.5% | 10.3% |