Overview Dividends

(ADBE) Adobe Systems - Ratings and Ratios

Exchange: NASDAQ • Country: United States • Currency: USD • Type: Common Stock • ISIN: US00724F1012

Creative, Document, Experience, Advertising, Publishing

Application Software
Market Cap in USD: 148,466m

IPO / Inception: 1986-08-20
Return 12m vs S&P 500: -31.7%

EPS (Earnings per Share)

EPS CAGR: 13.95%
EPS Trend: 99.1%

Last SUE: 4.00
Qual. Beats: 13

Revenue

Rev. CAGR: 10.48%
Rev. Trend: 99.9%

Last SUE: 0.42
Qual. Beats: 0

Dividends

Currently no dividends paid

Risk via 5d forecast
Volatility	32.3%
Value at Risk 5%th	47.1%
Relative Tail Risk	-11.31%

Reward TTM
Sharpe Ratio	-0.70
Alpha	-36.40
CAGR/Max DD	-0.01

Character TTM
Hurst Exponent	0.484
Beta	0.834
Beta Downside	1.005

Drawdowns 3y
Max DD	50.78%
Mean DD	21.10%
Median DD	18.67%

Description: ADBE Adobe Systems December 01, 2025

Adobe Inc. (NASDAQ: ADBE) operates globally as a technology firm organized into three primary segments. The Digital Media segment delivers Creative Cloud, Document Cloud, and related services that enable creators-from photographers to game developers-to produce and publish content via subscription-based, cloud-enabled applications. The Digital Experience segment provides an end-to-end platform for brands to design, manage, and monetize customer interactions, covering analytics, personalization, and commerce tools. The Publishing & Advertising segment adds e-learning, web-conferencing, high-end printing, and Adobe Advertising solutions, supported by consulting, training, and support services.

Key market metrics that reinforce Adobe’s growth narrative include: (1) FY 2024 total revenue of approximately $5.8 billion, reflecting a 12 % year-over-year increase driven largely by subscription renewals; (2) subscription revenue now accounts for over 90 % of total revenue, delivering an operating margin near 35 %, well above the application-software industry average of ~28 %; and (3) the company’s AI-focused partnership with HUMAIN and its own generative-AI initiatives are expected to lift average revenue per user (ARPU) by 4-6 % annually, according to internal guidance. Macro-level drivers such as sustained corporate digital-transformation spending and a rebound in global advertising budgets further underpin demand for Adobe’s Creative and Experience clouds.

If you want a data-rich, independent perspective on Adobe’s valuation and risk profile, checking out ValueRay’s analyst toolkit can be a useful next step.

Piotroski VR‑10 (Strict, 0-10) 8.5

Net Income (7.13b TTM) > 0 and > 6% of Revenue (6% = 1.43b TTM)

FCFTA 0.33 (>2.0%) and ΔFCFTA 7.52pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue -0.16% (prev 3.31%; Δ -3.46pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.34 (>3.0%) and CFO 10.03b > Net Income 7.13b (YES >=105%, WARN >=100%)

Net Debt (1.22b) to EBITDA (9.75b) ratio: 0.12 <= 3.0 (WARN <= 3.5)

Current Ratio 1.00 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (417.0m) change vs 12m ago -5.87% (target <= -2.0% for YES)

Gross Margin 89.11% (prev 89.04%; Δ 0.08pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 79.59% (prev 71.14%; Δ 8.46pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 33.96 (EBITDA TTM 9.75b / Interest Expense TTM 263.0m) >= 6 (WARN >= 3)

Altman Z'' 9.66

(A) -0.00 = (Total Current Assets 10.16b - Total Current Liabilities 10.20b) / Total Assets 29.50b

(B) 1.54 = Retained Earnings (Balance) 45.35b / Total Assets 29.50b

warn (B) unusual magnitude: 1.54 — check mapping/units

(D) 2.52 = Book Value of Equity 45.11b / Total Liabilities 17.87b

Total Rating: 9.66 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 96.59

1. Piotroski 8.50pt

2. FCF Yield 6.63%

3. FCF Margin 41.45%

4. Debt/Equity 0.57

5. Debt/Ebitda 0.12

6. ROIC - WACC (= 31.32)%

7. RoE 59.50%

8. Rev. Trend 99.91%

9. EPS Trend 99.11%

What is the price of ADBE shares?

As of January 10, 2026, the stock is trading at USD 339.04 with a total of 3,107,607 shares traded.
Over the past week, the price has changed by +1.72%, over one month by -0.02%, over three months by -2.79% and over the past year by -19.20%.

Is ADBE a buy, sell or hold?

Adobe Systems has received a consensus analysts rating of 4.16. Therefore, it is recommended to buy ADBE.

Strong Buy: 19
Buy: 6
Hold: 13
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the ADBE price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	431	27.1%
Analysts Target Price	431	27.1%
ValueRay Target Price	328	-3.3%

ADBE Fundamental Data Overview January 03, 2026

P/E Trailing = 20.97
P/E Forward = 14.8588
P/S = 6.2462
P/B = 12.6048
P/EG = 0.991
Beta = 1.54
Revenue TTM = 23.77b USD
EBIT TTM = 8.93b USD
EBITDA TTM = 9.75b USD
Long Term Debt = 6.20b USD (from longTermDebt, two quarters ago)
Short Term Debt = 77.0m USD (from shortTermDebt, last quarter)
Debt = 6.65b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 1.22b USD (from netDebt column, last quarter)
Enterprise Value = 148.52b USD (148.47b + Debt 6.65b - CCE 6.59b)
Interest Coverage Ratio = 33.96 (Ebit TTM 8.93b / Interest Expense TTM 263.0m)
FCF Yield = 6.63% (FCF TTM 9.85b / Enterprise Value 148.52b)
FCF Margin = 41.45% (FCF TTM 9.85b / Revenue TTM 23.77b)
Net Margin = 30.00% (Net Income TTM 7.13b / Revenue TTM 23.77b)
Gross Margin = 89.11% ((Revenue TTM 23.77b - Cost of Revenue TTM 2.59b) / Revenue TTM)
Gross Margin QoQ = 88.92% (prev 89.28%)
Tobins Q-Ratio = 5.04 (Enterprise Value 148.52b / Total Assets 29.50b)
Interest Expense / Debt = 0.99% (Interest Expense 66.0m / Debt 6.65b)
Taxrate = 18.02% (408.0m / 2.26b)
NOPAT = 7.32b (EBIT 8.93b * (1 - 18.02%))
Current Ratio = 1.00 (Total Current Assets 10.16b / Total Current Liabilities 10.20b)
Debt / Equity = 0.57 (Debt 6.65b / totalStockholderEquity, last quarter 11.62b)
Debt / EBITDA = 0.12 (Net Debt 1.22b / EBITDA 9.75b)
Debt / FCF = 0.12 (Net Debt 1.22b / FCF TTM 9.85b)
Total Stockholder Equity = 11.98b (last 4 quarters mean from totalStockholderEquity)
RoA = 23.88% (Net Income 7.13b / Total Assets 29.50b)
RoE = 59.50% (Net Income TTM 7.13b / Total Stockholder Equity 11.98b)
RoCE = 49.11% (EBIT 8.93b / Capital Employed (Equity 11.98b + L.T.Debt 6.20b))
RoIC = 40.06% (NOPAT 7.32b / Invested Capital 18.28b)
WACC = 8.74% (E(148.47b)/V(155.11b) * Re(9.09%) + D(6.65b)/V(155.11b) * Rd(0.99%) * (1-Tc(0.18)))
Discount Rate = 9.09% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -4.68%
[DCF Debug] Terminal Value 76.81% ; FCFF base≈9.04b ; Y1≈9.65b ; Y5≈11.67b
Fair Price DCF = 425.8 (EV 179.45b - Net Debt 1.22b = Equity 178.23b / Shares 418.6m; r=8.74% [WACC]; 5y FCF grow 7.51% → 3.0% )
EPS Correlation: 99.11 | EPS CAGR: 13.95% | SUE: 4.0 | # QB: 13
Revenue Correlation: 99.91 | Revenue CAGR: 10.48% | SUE: 0.42 | # QB: 0
EPS next Quarter (2026-02-28): EPS=5.87 | Chg30d=+0.201 | Revisions Net=+22 | Analysts=27
EPS current Year (2026-11-30): EPS=23.46 | Chg30d=+0.098 | Revisions Net=+1 | Growth EPS=+12.0% | Growth Revenue=+9.6%
EPS next Year (2027-11-30): EPS=26.33 | Chg30d=+0.111 | Revisions Net=+3 | Growth EPS=+12.2% | Growth Revenue=+9.0%

Additional Sources for ADBE Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
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Fund Manager Positions: Dataroma | Stockcircle