Adobe provides content creation, document management, and digital marketing and advertising software and services to creative professionals and marketers for creating, managing, delivering, measuring, optimizing, and engaging with compelling content across multiple operating systems, devices, and media.
It is a $94.2B technology company. Revenue grew 12.0% over the last year, it keeps 28¢ of every dollar of sales as profit, and it holds more cash than debt. It trades at 12.9× earnings — near the lowest of its own history.
- Website
- adobe.com
- Location
- San Jose, CA
- Employees
- 31 360
- Sector
- Technology
- Founded
- 1982
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong valuation, growth, profitability, quality and moat.
Valuation90
- P/E vs own history3th pct · 25/25
- FCF yield11.2% · 25/25
- P/S3.6x · 20/25
- EV/EBITDA10.2x · 20/25
Growth77
- Revenue CAGR10.8% · 20/25
- Net income CAGR10.3% · 20/25
- EPS CAGR ~5Y9.0% · 12/25
- Fwd implied growth47.2% · 25/25
Profitability100
- ROIC63.4% · 25/25
- ROE62.9% · 25/25
- Net margin28.0% · 25/25
- Operating margin35.7% · 25/25
Health56
- Altman Zn/a · 0/25
- Current ratio0.77 · 6/25
- Interest coverage67.0x · 25/25
- Net cash / debtNet cash · 25/25
Quality97
- Piotroski F7/9 · 22/25
- Beneish M-3.02 · 25/25
- FCF conversion145% · 25/25
- Margin stabilityσ 4.8% · 25/25
Moat100
- ROIC >12% years10/10 yrs · 25/25
- Median gross margin87.2% · 25/25
- FCF-positive years10/10 yrs · 25/25
- Worst-year net marginworst 20.0% · 25/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- FY2025FinancialBest year on record$7.13B net income
- 2025AcquisitionAdobe Inc. announced its agreement to acquire Semrush for $1.9 billion
- 2022AcquisitionAdobe announced a $20 billion acquisition of Figma, an Adobe XD competitor, in September 2022, its largest to date
- Aug 19, 2021AcquisitionAdobe announced it had entered into a definitive agreement to acquire Frame.io, a leading…
- FY2019FinancialRevenue crossed $10B$11.2B for the year
- FY2019FinancialBecame debt-freecash now exceeds total debt
- FY2016FinancialProfitable every year on record10 consecutive profitable years in our data
- FY2016FinancialRevenue already above $1B$5.85B in first reported year
- FY2016FinancialPositive free cash flow every year since10-year streak
- 2013MilestoneCreative Cloud pivotkilled boxed software for subscriptions — margins never looked back
- 2012ProductThe original announcement of Adobe Creative Cloud was met with a positive reception from CNET journalists as a much…
- 2011AcquisitionAdobe announced that it had entered into a definitive agreement to acquire privately held…
- 2002AcquisitionIts first notable acquisition in the decade was in 2002, when Adobe acquired Canadian company Accelio, also known as…
- 1993ProductPDF & Acrobatthe portable-document standard
- 1991AcquisitionAdobe would acquire Photoshop from John and Thomas Knoll, FrameMaker from Frame Technology Corporation
- 1990ProductPhotoshoplicensed from the Knoll brothers — became a verb
- Aug 20, 1986IPOIPO on Nasdaq
- 1982FoundedFounded by Warnock & Geschketwo Xerox PARC researchers with a page-description language
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (89.3%)
- Strongly profitable — 28.0% net margin
- Revenue growing 12.0% year over year
- Strong cash conversion — FCF is 40.8% of revenue
- Net cash position after subtracting debt from cash
Watch-outs
Nothing stands out as a concern in the available data.
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+12.0% YoY
- Profitable — makes more than it spends$7.28B TTM
- Profit growing — earnings are higher than last year+18.3% YoY
- Generates cash — cash left after running and investing$10.6B TTM
- Debt under control — could handle its obligationsmore cash than debt
- Established company — not a micro-cap — lower blow-up risk$94.2B market cap
- Not printing shares — share count not ballooning — you keep your slice-12.0% shares over ~5y
- Proven track record — years of profitability behind it10/10 profitable years
- Financially stable — balance sheet not near distresshealth score 31/100
- Pays a dividend — returns cash to shareholdersno data
- Valuation not extreme — price not wildly above earningsP/E 12.9
Peer comparisonAdobe Inc. vs 6 largest technology peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| ADBE this company | $94.2B | 12.9 | +12.0% | 28.0% | Strained |
| NVDA Nvidia Corp | $5.5T | 28.6 | +83.4% | 63.7% | Mixed |
| AAPL Apple Inc. | $4.9T | 38.1 | +14.2% | 27.6% | Strong |
| GOOGL Alphabet Inc. | $4.3T | 17.6 | +20.1% | 54.8% | Mixed |
| MSFT Microsoft Corp | $4.0T | 29.7 | +17.8% | 40.3% | Strong |
| SPCX Space Exploration Technologies Corp. | $2.1T | — | +33.2% | -34.0% | Strained |
| META Meta Platforms, Inc. | $1.8T | 26.9 | +27.7% | 29.8% | Mixed |
Head-to-head: ADBE vs NVDA · ADBE vs AAPL · ADBE vs GOOGL
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/ADBE
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of ADBE on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $242.15 · market cap $94.2B.