Company Valuation: Adobe Inc.

Data adjusted to current consolidation scope
Fiscal Period: November 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 315,027 152,938 283,798 226,122 134,006 101,632 - -
Change - -51.45% 85.56% -20.32% -40.74% -24.16% - -
Enterprise Value (EV) 1 313,352 150,971 279,590 223,864 133,621 99,298 94,843 86,307
Change - -51.82% 85.19% -19.93% -40.31% -25.69% -4.49% -9%
P/E ratio 66.1x 32.6x 52.7x 41.6x 19.2x 13.6x 11.9x 10.3x
PBR 21.5x 10.9x 17.3x 16.1x 11.8x 7.43x 5.55x 4.19x
PEG - 40.83x 3.1x 9.11x 0.5x 1.43x 0.8x 0.7x
Capitalization / Revenue 20x 8.69x 14.6x 10.5x 5.64x 3.9x 3.58x 3.31x
EV / Revenue 19.9x 8.57x 14.4x 10.4x 5.62x 3.81x 3.34x 2.81x
EV / EBITDA 38.9x 17.2x 28.6x 20.6x 11.3x 7.99x 7.14x 6.07x
EV / EBIT 43.2x 19x 31.4x 22.3x 12.2x 8.48x 7.47x 6.32x
EV / FCF 45.5x 20.4x 40.3x 28.4x 13.6x 9.51x 8.51x 7.44x
FCF Yield 2.2% 4.9% 2.48% 3.52% 7.37% 10.5% 11.8% 13.4%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 10.02 10.1 11.82 12.36 16.7 18.29 20.95 24.13
Distribution rate - - - - - - - -
Net sales 1 15,785 17,606 19,409 21,505 23,769 26,061 28,354 30,741
EBITDA 1 8,047 8,801 9,790 10,876 11,804 12,425 13,277 14,227
EBIT 1 7,259 7,945 8,918 10,019 10,986 11,709 12,700 13,660
Net income 1 4,822 4,756 5,428 5,560 7,130 7,413 8,298 9,201
Net Debt 1 -1,675 -1,967 -4,208 -2,258 -385 -2,334 -6,789 -15,325
Reference price 2 662.10 328.97 623.32 513.68 320.13 249.32 249.32 249.32
Nbr of stocks (in thousands) 475,800 464,900 455,300 440,200 418,600 407,637 - -
Announcement Date 16/12/21 15/12/22 13/12/23 11/12/24 10/12/25 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.63x3.81x7.99x-.--% 102B
29.15x18.86x22.47x-.--% 155B
31.2x6.35x15.62x-.--% 53B
60.56x6.09x16.81x0.38% 49.86B
393.74x9.59x40.05x-.--% 44.06B
22.63x5.12x12.94x1% 36.13B
29.55x2.94x8.89x-.--% 34.21B
26.27x6.9x14.08x-.--% 18.55B
39.69x2.42x13.67x-.--% 15.21B
-48.9x7.21x57.01x-.--% 10.97B
Average 59.75x 6.93x 20.95x 0.14% 51.83B
Weighted average by Cap. 58.46x 9.45x 18.49x 0.11%

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

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