Company Valuation: Adobe Inc.

Data adjusted to current consolidation scope
Fiscal Period: November 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 228,840 327,108 151,920 281,098 227,112 127,292 127,292 -
Change - 42.94% -53.56% 85.03% -19.21% -43.95% 0% -
Enterprise Value (EV) 1 226,965 325,433 149,953 276,890 224,854 133,621 124,832 120,446
Change - 43.38% -53.92% 84.65% -18.79% -40.57% -0.93% -3.51%
P/E ratio 44x 68.6x 32.4x 52.2x 41.7x 19.2x 16.6x 14.7x
PBR 17.4x 22.3x 10.8x 17.2x 16.1x 10.7x 8.79x 6.56x
PEG - -9.17x 40.58x 3.1x 9.13x 0.5x 1.6x 1.1x
Capitalization / Revenue 17.8x 20.7x 8.63x 14.5x 10.6x 5.64x 4.9x 4.49x
EV / Revenue 17.6x 20.6x 8.52x 14.3x 10.5x 5.62x 4.8x 4.25x
EV / EBITDA 36.2x 40.4x 17x 28.3x 20.7x 11.3x 10x 9.05x
EV / EBIT 41.1x 44.8x 18.9x 31x 22.4x 12.2x 10.6x 9.41x
EV / FCF 42.8x 47.2x 20.3x 39.9x 28.6x 13.6x 12.2x 10.7x
FCF Yield 2.34% 2.12% 4.93% 2.51% 3.5% 7.37% 8.22% 9.31%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 10.83 10.02 10.1 11.82 12.36 16.7 18.27 20.67
Distribution rate - - - - - - - -
Net sales 1 12,868 15,785 17,606 19,409 21,505 23,769 26,004 28,348
EBITDA 1 6,278 8,047 8,801 9,790 10,876 11,804 12,450 13,312
EBIT 1 5,521 7,259 7,945 8,918 10,019 10,986 11,736 12,802
Net income 1 5,260 4,822 4,756 5,428 5,560 7,130 7,432 8,276
Net Debt 1 -1,875 -1,675 -1,967 -4,208 -2,258 -385 -2,460 -6,846
Reference price 2 477.03 687.49 326.78 617.39 515.93 304.09 304.09 304.09
Nbr of stocks (in thousands) 479,719 475,800 464,900 455,300 440,200 418,600 418,600 -
Announcement Date 12/10/20 12/16/21 12/15/22 12/13/23 12/11/24 12/10/25 - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
18.4x5.33x10.76x-.--% 127B
66.08x36.55x46.4x-.--% 209B
48.43x7.68x19.23x-.--% 55.28B
66.91x4.94x15.35x-.--% 51.02B
49.02x6.25x17.13x0.38% 50.93B
30.53x6.83x17.25x0.74% 45.66B
449.51x11.64x47.55x-.--% 42.93B
28.31x7.18x14.56x-.--% 19.8B
117.81x4.18x28.52x-.--% 18.92B
85.23x7.96x29.8x-.--% 12.22B
Average 96.02x 9.85x 24.65x 0.11% 63.3B
Weighted average by Cap. 77.80x 16.48x 28.12x 0.08%
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Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield