TechnologySoftware - ApplicationUnited States

ADBE.US · Adobe Inc.

NMS · US · USD

Latest price240.88 USD

30D+11.31%

Vs. base value+34%

Research summary

ADBE.US latest organized financial period shows revenue grew +0% YoY and net income grew +0% YoY. Current price is about 241 USD, while the model base case is about 180 USD; the current price sits +34% versus the base case. This summary is intended for public-information research and model review.

Key financial trend

Annual financial metrics with switchable views. · Unit: USD

10 records

Revenue24B USD

Net income7B USD

Free cash flow10B USD

Operating cash flow10B USD

Revenue

Total revenue recognized in each fiscal year.

Price trend

Price date: 2026/04/28 · Updated: 2026/04/29 07:20

Adjusted close trend. Current price sample covers: 2026/03/09 - 2026/04/28.

Valuation model range

Hover each model row to inspect formulas and inputs.

Current price240.88 USD

Base value179.70 USD

Vs. base+34%

Price date2026/04/28

179.70 USD179.70 USD187.26 USD

+34.05%

Calculated

DCF

Free cash flow, growth, discount rate, and terminal growth form an intrinsic value range.

292.43 USD292.43 USD314.96 USD

-17.63%

292.43 USDCurrent price is 17.6% below the base model value.

FormulaValue/share = PV(FCF/share for 10 years) + PV(terminal value)Inputs used

Result: 292.43 USD
Current price: 240.88 USD
Estimated shares: 426,946,108
Discount rate: 9.5%
Bear value: 292.43 USD
Base value: 292.43 USD
Bull value: 314.96 USD
Base FCF/share：23.08
Base growth：0.0%
WACC：9.5%
Terminal growth：3.0%

Calculated

Owner Earnings

Uses recent net income as an owner-earnings proxy and discounts scenario growth.

196.10 USD196.10 USD211.21 USD

+22.84%

196.10 USDCurrent price is 22.8% above the base model value.

FormulaValue/share = PV(owner earnings/share) + PV(terminal value)Inputs used

Result: 196.10 USD
Current price: 240.88 USD
Estimated shares: 426,946,108
Discount rate: 9.5%
Bear value: 196.10 USD
Base value: 196.10 USD
Bull value: 211.21 USD
Average net income over the last 3 years proxies owner earnings
Base growth：0.0%
WACC：9.5%

Calculated

Reverse DCF

Solves the forward FCF growth rate implied by the current price.

Implied growth-2.6%

Current price implies roughly -2.6% annualized FCF growth.

-2.6%Current price implies roughly -2.6% annualized FCF growth.

FormulaSolve growth where DCF value/share = current priceInputs used

Result: -2.6%
Current price: 240.88 USD
Estimated shares: 426,946,108
Discount rate: 9.5%
Base FCF/share：23.08
WACC：9.5%
Terminal growth：3.0%

Calculated

Earnings Power Value

Estimates earnings power value without assuming growth.

163.30 USD163.30 USD163.30 USD

+47.51%

163.30 USDCurrent price is 47.5% above the base model value.

FormulaEPV/share = normalized NOPAT / WACC / sharesInputs used

Result: 163.30 USD
Current price: 240.88 USD
Estimated shares: 426,946,108
Discount rate: 9.5%
Base value: 163.30 USD
Average operating income over the last 3 years
Effective tax rate is estimated at 21%
WACC：9.5%

Updated: 2026/04/29 07:20

Ad placement

Quarterly and annual financial table

Financial DetailsShowing latest 5 / 10

Period	Type	Revenue	Net Income	Free Cash Flow	Diluted EPS
2025/11/29	Annual	24B USD	7B USD	10B USD	16.7
2025/11/27	Annual	24B USD	7B USD	10B USD	16.7
2024/11/29	Annual	22B USD	6B USD	8B USD	12.36
2024/11/28	Annual	22B USD	6B USD	8B USD	12.36
2023/11/30	Annual	19B USD	5B USD	7B USD	11.82

Ad placement

ADBE.US · Adobe Inc.

Research summary

Key financial trend

Price trend

Valuation model range

DCF

Owner Earnings

Reverse DCF

Earnings Power Value

Quarterly and annual financial table

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