NASDAQ · ADBE
Adobe Inc.
Technology · Software - Application
$250.23▲ 0.85% ($2.11)at close
Pre-market$250.29▲ 0.02%8:25 AM ET
Valuation
Revenue & margin DCF
Verdict: fairly priced. Price between Bear and Base.
The price needs 3.1% revenue growth a year for 10 years. Our scenarios assume 5.2–9.1%.
That's below its past 4-year pace of 10.8%.
Value per share
Base case
$349.18
Price used $250.23 is 28% below this
USD · TTM ending Aug 28, 2026 · Price Oct 30, 8:00 PM UTC
Revenue each value needs
Revenue today $26B. The price needs $35.2B by 2036. Base case: $52.4B. At its recent pace: $72.3B. Bear to Bull: $43.3B to $62B.
Revenue today $26B. The price needs $35.2B by 2036. Base case: $52.4B. At its recent pace: $72.3B. Bear to Bull: $43.3B to $62B.
Revenue in 2036
today $26B
−$17.3Bless than the Base case
Value per share · Base case
$349.18
Price $250.23
28% below this
- 10-yr revenue CAGR
- 7.3%
- Ending operating margin
- 30.0%
- Discount rate
- 10.4%
USD · TTM ending Aug 28, 2026 · Price Oct 30, 8:00 PM UTC
What each scenario assumes. Click a column to start from it.
Price vs Fundamentals
Why The Stock Is Moving
What changed
The stock fell 26.24% over the last year. Revenue grew 12.03% over the trailing twelve months. Operating margin moved from 36.25% to 35.7%. Free cash flow grew 10.34% over the trailing twelve months.
What the market seems to be pricing
Visible fundamentals weakened far less than the stock price, and the shares now sit around the 0th percentile of their historical P/FCF range. That looks more like a rerating of the multiple than a collapse in the business.
What would invalidate this read
This read changes if operating margin (currently 35.7%) continues to decline, or if revenue growth turns negative. The bull case requires the business to hold its current trajectory.
Return analysis
Company profile
Adobe Inc. stands as a prominent global software provider, delivering a diverse range of solutions.
Market multiples
Stock splits
Every 1 shares became 2
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Profitability & growth
Analyst consensus
28
Buy
29
Hold
7
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Actuals vs estimates by quarter, or any quarter against the same one a year earlier.
Next report
Dec 9, 2026
Q4 FY26 · EPS est $6.32 · Revenue est $6.8B
Same quarter, year over year
FY26 YTD +17.5%Each cell vs the same quarter a year earlier (the cell below) · Q1–Q3 combined $18.15 vs $15.45 · all 3 quarters up
Q1
Q2
Q3
Q4
FY total
FY26
—
FY25
FY24
FY23
—
—
—
—
Fiscal year totals
- FY25
- $20.95
- +13.7%
- FY24
- $18.42
- —
Q3 FY26
Reported Sep 10, 2026 · Latest
HoverTap a cell to inspect
Actual
$6.13
Estimate
$6.08
Year over year
+15.4%
Vs prior quarter
+2.9%
Institutional Sentiment
Adobe Inc. · ADBE
From Form 13F filings (managers with $100M+). Filings land up to 45 days after quarter end — read this as positioning context, not live fund flow.