US · USD
ADBE
Adobe Systems Incorporated
- Day's range
- US$237.79 – US$248.30
- Day's volume
- US$574.4m
- 52-week range
- US$193.41 – US$359.91
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Create a free accountADBE in numbers
- Market cap
- US$94.5bn
- P/E
- 12.92
- P/B
- 8.00
- Dividend yield (12m)
- 0.00%
- Net debt/EBITDA
- -0.09
ADBE trades at 12.92 times its earnings of the last 12 months.
ADBE price history
ADBE risk and return
Monthly closes adjusted for splits and distributions.
| Metric | 12 months | 36 months | 60 months |
|---|---|---|---|
| Return | -28.84% | -54.48% | -62.76% |
| Volatility (annualised) | 47.74% | 36.99% | 38.56% |
| Largest drawdown | -41.42% | -66.81% | -69.39% |
| Positive months | 6/12 | 13/36 | 25/60 |
How much did investing in ADBE return?
US$1,000.00 invested on 01/10/2021 would be worth US$371.90 today.
- Value today in ADBE
- US$371.90
- Return over the period
- -62.81%
- Return per year
- -17.95%
- In the S&P 500
- US$1,666.87
With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.
ADBE fundamentals
Valuation
- P/E12.92
- P/B8.00
- EV/EBITDA9.33
- EV/EBIT10.10
- EV/Revenue3.61
- P/EBIT10.19
- P/S3.64
- P/OCF8.75
- P/FCF8.92
- Earnings yield9.90%
- PEG ratio—
- Earnings per shareUS$18.72
- Book value per shareUS$30.23
Debt
- Net debt-US$873m
- Net debt/EBITDA-0.09
- Net debt/Equity-0.07
- Debt/Equity0.41
- Current ratio0.77
- Quick ratio—
- Cash ratio0.47
Efficiency
- Gross margin89.25%
- EBITDA margin38.65%
- Operating margin35.70%
- Net margin28.05%
- Asset turnover0.87
Profitability
- ROE61.92%
- ROA24.30%
- ROIC66.81%
- Payout0.00%
What is ADBE's fair price?
Two classic value formulas, with today's numbers. The current price is US$241.87.
- Graham's fair price
- US$112.82
- 53.36% below the price
√(22.50 × US$18.72 × US$30.23)
Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.
- Bazin's ceiling price
- —
- Does not apply to ADBE: it paid no distributions in the last five years.
Décio Bazin only bought shares yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years divided by 6%.
Graham ignores growth and debt; Bazin assumes past distributions will repeat. They are reference points for comparison, not a buy recommendation.
ADBE indicators by year
Multiples at each year's closing price; margins and returns from that year's accounts.
| Indicator | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| P/E | 20.15 | 34.81 | 49.68 | 32.39 | 55.47 | 45.51 | 53.88 | 42.59 |
| P/B | 12.36 | 13.72 | 16.33 | 10.96 | 18.08 | 18.05 | 15.10 | 11.79 |
| EV/EBITDA | 14.39 | 24.64 | 35.29 | 21.80 | 40.33 | 47.56 | 38.71 | 34.91 |
| Earnings per share | US$17.37 | US$12.77 | US$12.01 | US$10.39 | US$10.22 | US$10.99 | US$6.12 | US$5.31 |
| Book value per share | US$28.31 | US$32.40 | US$36.54 | US$30.69 | US$31.37 | US$27.71 | US$21.84 | US$19.20 |
| ROE | 61.34% | 39.42% | 32.86% | 33.85% | 32.59% | 39.66% | 28.02% | 27.68% |
| ROIC | 141.35% | 70.06% | 43.13% | 41.67% | 37.37% | 37.20% | 40.98% | 25.68% |
| Gross margin | 89.27% | 89.04% | 87.87% | 87.70% | 88.18% | 86.62% | 85.02% | 86.77% |
| EBITDA margin | 40.07% | 35.33% | 38.76% | 39.50% | 41.75% | 38.81% | 36.03% | 35.28% |
| Net margin | 30.00% | 25.85% | 27.97% | 27.01% | 30.55% | 40.88% | 26.42% | 28.69% |
| Net debt/EBITDA | -0.69 | -0.84 | -0.56 | -0.35 | -0.25 | -0.38 | -0.79 | 0.28 |
ADBE financial statements
| Line | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Net revenue | US$23.8bn | US$21.5bn | US$19.4bn | US$17.6bn | US$15.8bn | US$12.9bn |
| Cost of sales | -US$2.6bn | -US$2.4bn | -US$2.4bn | -US$2.2bn | -US$1.9bn | -US$1.7bn |
| Gross profit | US$21.2bn | US$19.1bn | US$17.1bn | US$15.4bn | US$13.9bn | US$11.1bn |
| EBITDA | US$9.5bn | US$7.6bn | US$7.5bn | US$7bn | US$6.6bn | US$5bn |
| EBIT | US$8.7bn | US$6.7bn | US$6.7bn | US$6.1bn | US$5.8bn | US$4.2bn |
| Net finance result | US$28m | US$190m | US$149m | -US$90m | -US$97m | -US$61m |
| Profit before tax | US$8.7bn | US$6.9bn | US$6.8bn | US$6bn | US$5.7bn | US$4.2bn |
| Income tax | -US$1.6bn | -US$1.4bn | -US$1.4bn | -US$1.3bn | -US$883m | US$1.1bn |
| Net income | US$7.1bn | US$5.6bn | US$5.4bn | US$4.8bn | US$4.8bn | US$5.3bn |
Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.
Does ADBE pay dividends?
ADBE has no distributions on record.
About Adobe Systems Incorporated
- Sector
- Services
Questions about ADBE
How much is ADBE today?
ADBE is at US$241.87 (0.80% on the day), last traded on 01/10/2026.
What are the P/E and P/B of ADBE?
ADBE trades at a P/E of 12.92 and a P/B of 8.00.
How much did ADBE return in 12 months?
ADBE returned -28.84% in 12 months, with annualised volatility of 47.74% and a largest drawdown of -41.42%.