Company Valuation: Adobe Inc.

Data adjusted to current consolidation scope
Fiscal Period: November 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 3,15,027 1,52,938 2,83,798 2,26,122 1,34,006 1,03,067 - -
Change - -51.45% 85.56% -20.32% -40.74% -23.09% - -
Enterprise Value (EV) 1 3,13,352 1,50,971 2,79,590 2,23,864 1,33,621 1,00,733 96,278 87,742
Change - -51.82% 85.19% -19.93% -40.31% -24.61% -4.42% -8.87%
P/E ratio 66.1x 32.6x 52.7x 41.6x 19.2x 14x 12.2x 10.6x
PBR 21.5x 10.9x 17.3x 16.1x 11.8x 7.73x 5.44x 3.91x
PEG - 40.83x 3.1x 9.11x 0.5x 1.5x 0.8x 0.7x
Capitalization / Revenue 20x 8.69x 14.6x 10.5x 5.64x 3.95x 3.62x 3.32x
EV / Revenue 19.9x 8.57x 14.4x 10.4x 5.62x 3.86x 3.39x 2.82x
EV / EBITDA 38.9x 17.2x 28.6x 20.6x 11.3x 8.1x 7.24x 6.15x
EV / EBIT 43.2x 19x 31.4x 22.3x 12.2x 8.63x 7.59x 6.37x
EV / FCF 45.5x 20.4x 40.3x 28.4x 13.6x 9.61x 8.65x 7.62x
FCF Yield 2.2% 4.9% 2.48% 3.52% 7.37% 10.4% 11.6% 13.1%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 10.02 10.1 11.82 12.36 16.7 18.26 20.92 24.12
Distribution rate - - - - - - - -
Net sales 1 15,785 17,606 19,409 21,505 23,769 26,093 28,435 31,074
EBITDA 1 8,047 8,801 9,790 10,876 11,804 12,439 13,300 14,268
EBIT 1 7,259 7,945 8,918 10,019 10,986 11,676 12,683 13,772
Net income 1 4,822 4,756 5,428 5,560 7,130 7,392 8,269 9,148
Net Debt 1 -1,675 -1,967 -4,208 -2,258 -385 -2,334 -6,789 -15,325
Reference price 2 662.10 328.97 623.32 513.68 320.13 254.99 254.99 254.99
Nbr of stocks (in thousands) 4,75,800 4,64,900 4,55,300 4,40,200 4,18,600 4,04,200 - -
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
13.96x3.86x8.1x-.--% 10TCr
29.66x19.23x22.84x-.--% 16TCr
30.3x6.17x15.06x-.--% 5.16TCr
36.04x5.82x16.28x0.38% 5.06TCr
20.25x4.9x12.48x1.03% 3.32TCr
29x2.76x8.3x-.--% 3.23TCr
16.23x6.53x13.18x-.--% 1.68TCr
34.22x2.25x13.09x-.--% 1.43TCr
71.74x4.46x18.25x-.--% 950.35Cr
33.39x - - 3.63% 867.15Cr
Average 31.48x 6.22x 14.17x 0.5% 4.8TCr
Weighted average by Cap. 26.90x 9.60x 15.60x 0.18%

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