ADBE

Nasdaq

ADOBE INC.

Information Technology, Application Software

$265.21

close 7 Aug 2026

-20.51%

52-week change

$105.82B

market cap

$190.12

$370.86

52-week range

Expected price

$596.96 – $729.62

Current price

$265.21

Signal

Could be undervalued

A historical-multiple reference, never a fair-value claim. The band uses only data public at each date and ends at the latest month — no forward estimates.

Current multiples

P/E (TTM)15.18x

P/S (TTM)4.20x

P/B9.19x

EV/EBITDA (TTM)10.94x

FCF yield (TTM)9.71%

PEG (TTM, GAAP)0.83

Context

P/E, own 5-year average36.34x

P/E, sector median37.34x*

Price at 5-year median P/E$676.21*

Forward — analyst consensus

Forward P/E (FY2026)10.86x*

Forward P/E (FY2027)9.65x

Forward PEG0.86*

Consensus EPS FY2026 (33 analysts)$24.41

EPS growth (FY2026→FY2027)12.60%

Revenue growth (FY2026)11.59%

Street view

Price target (mean)$269.61*

Target upside1.66%

Ratings (buy / hold / sell)12 / 23 / 5

FY2026 EPS revisions, 30d (up / down)0 / 0

5-year history

Dashed line: average of month-end values

P/E (TTM)

P/S (TTM)

P/B

FCF yield (TTM)

Dividend yield

period to 29 May 2026, filed 15 Jun 2026, close 7 Aug 2026

Discounted cash flow

Ten projected years plus a perpetuity, prefilled from filings — a model to argue with, never a fair-value claim.

Free cash flow, last ten years and TTM

5Y CAGR +13.17%10Y CAGR +22.60%

Assumptions

Growth rate, years 1–10%

Perpetual growth%Discount rate%

Base FCF$M

As filed — not assumptions

Current price$265.21

Cash & equivalents$4.92B

Total debt$6.65B

Shares outstanding399.00M

Result

DCF price per share$1,098.30

Current price$265.21

Margin of safety+314.12%

PV of years 1–10$134.15B

PV of terminal value$305.79B

Equity value$438.22B

Market-implied growth-4.98%

Projected FCF, years 1–10

Hover for PV and growth

Projection detail

Override growth for any year; blank years use the uniform rate

Year	2026	2027	2028	2029	2030	2031	2032	2033	2034	2035	Terminal
Growth, %											2.5
FCF	$11.63B	$13.17B	$14.90B	$16.86B	$19.08B	$21.60B	$24.44B	$27.66B	$31.30B	$35.42B	$660.19B
PV	$10.77B	$11.29B	$11.83B	$12.39B	$12.99B	$13.61B	$14.26B	$14.94B	$15.66B	$16.41B	$305.79B

period to 29 May 2026, filed 15 Jun 2026, close 7 Aug 2026