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Stocks/Information Technology/Application Software

AdobeADBE

Application Software · San Jose, California · In the S&P 500
High qualityCheaper than peers
$250.23+0.85%After hours: $249.60 (−0.25%)At the close, 30 Oct · Prices from CNBC, may be delayed
▼ 25.9% over 1 year
Adobe over 1 yearDaily close, $, to 30 Oct 2026
$200$300$350Nov2026MarMayJulSep$250.23$200$300NovMarJul$250.23
Source: Nasdaq daily closes
Market value$97.39B
Price to earnings14.0x
Forward P/E9.3x
Dividend yield–
Year to date−28.5%
One year−25.9%
Next earningsNot scheduled
SectorInformation Technology
52-week range (closes)
$193.41$357.53

Quality and valuation

How Adobe compares with other information technology stocks. A description, not a recommendation.

Adobe and 6 application software peers. Across: valuation (P/E) against the sector. Up: business quality against the sector. Hover or tap a logo for its numbers.

Business quality: stronger than mostValuation: cheaper than most

A stronger business than most information technology companies, priced below most of them.

Adobe trades at 9.3 times the next 12 months of expected earnings, against a median of 22.2x for the 99 information technology stocks we cover. The quality score blends where it ranks on revenue growth, gross margin, operating margin and free-cash-flow margin (net margin for banks and insurers) over the last 12 months, from SEC filings.

  • Revenue grew slower than the sector median: +12.0% vs +20.6%
  • Keeps more of each sale (gross margin): 89.3% vs 61.5%
  • More profitable (operating margin): 35.7% vs 17.0%
  • Turns more of its sales into cash: 40.8% vs 21.7%
ADBE trades at 9.3x forward earnings, below the sector medianForward p/e, Application Software peers
ADBE9.3xINTU14.3xORCL15.4xCRM15.7xSAP26.6xCDNS36.6xPLTR108.1xSNOW120.5xSector median 22.2xADBE9.3xINTU14.3xORCL15.4xCRM15.7xSAP26.6xCDNS36.6xPLTR108.1xSNOW120.5xSector median 22.2x
Source: CNBC quotes; Mostly Markets
At 14.0x earnings, ADBE is cheaper than its average since Sep 2024Price over the last 12 months of reported (GAAP) diluted EPS
P/EUsual range (±1 s.d.)
10x20x30x40xAverage 23.5x2025202614.0x20x40xAverage 23.5x2025202614.0x
Source: Nasdaq prices; SEC filings

Financials

From Adobe's SEC filings, through the quarter ending 28 Aug 2026. Hover or tap a bar for its value.

Revenue grew 12.9% from a year earlierQuarterly revenue, $bn, latest Q3 ’26
$0bn$2bn$4bn$6bnQ4 ’24Q2 ’25Q4 ’25$6.8bnQ3 ’26$0bn$2bn$5bnQ4 ’24Q2 ’25Q4 ’25$6.8bnQ3 ’26
Source: SEC filings
Growth sped up to +12.9% last quarterRevenue growth, year on year, %
0%5%10%Q4 ’24Q2 ’25Q4 ’2512.9%Q3 ’260%5%10%Q4 ’24Q2 ’25Q4 ’2512.9%Q3 ’26
Source: SEC filings
Operating margin was 34.8% last quarterOperating income as a share of revenue, %
0%10%20%30%Q4 ’24Q2 ’25Q4 ’2534.8%Q3 ’260%20%Q4 ’24Q2 ’25Q4 ’2534.8%Q3 ’26
Source: SEC filings
Free cash flow was $10.6 billion over 12 monthsQuarterly free cash flow (operating cash flow minus capex), $bn
$0bn$1bn$2bn$3bnQ4 ’24Q2 ’25Q4 ’25$2.4bnQ3 ’26$0bn$2bnQ4 ’24Q2 ’25Q4 ’25$2.4bnQ3 ’26
Source: SEC filings
Last 12 monthsADBESector median
Revenue growth+12.0%+20.6%
Gross margin89.3%61.5%
Operating margin35.7%17.0%
Free cash flow margin40.8%21.7%
Price to earnings14.0x33.1x

Stories on Adobe

Wednesday, 28 October
Our picks

3 Beaten-Down Quality Stocks We Love and 1 We Hate

Adobe, Intuit, and Booking sit 31% to 52% below their highs but still grow revenue by double digits and trade at 9 to 12 times free cash flow. Nike, 45% below its high, still isn't cheap.

ADBE▲ 0.6%
Commuters in a financial district at dawn

Similar companies

Application Software, by market value.

CompanyPriceTodayYTDValue
PLTRPalantir Technologies$184.11−6.27%+3.6%$442B
ORCLOracle$130.67−6.37%−33.0%$396B
SAPSAP$235.02+0.41%−3.2%$289B
CRMSalesforce$229.17−0.75%−13.5%$189B
SNOWSnowflake$306.08−7.32%+39.5%$108B
INTUIntuit$341.09+2.99%−48.5%$91.15B
CDNSCadence Design Systems$327.89−4.34%+4.9%$89.97B
SNPSSynopsys$467.61−4.61%−0.4%$89.61B