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Earnings transcript
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ADBE
Adobe Inc.
$253.98
3.75
(1.5%)
| Exchange: | NASDAQ |
| Market Cap: | 98.85B |
| Shares Outstanding: | 240M |
Delayed data
About The Company
| Sector: | TechnologyView sector performance | |||||
| Industry: | Software – ApplicationView industry performance | |||||
| CEO: | Shantanu Narayen | |||||
| Full Time Employees: | 31360 | |||||
| Address: |
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| Website: | https://www.adobe.com |
Adobe Inc. stands as a prominent global software provider, delivering a diverse range of solutions. Its operations are structured into three primary business divisions: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment empowers individuals, teams, and enterprises to generate, disseminate, and amplify various forms of content through its array of products and services, including the cloud-native Document Cloud platform. Central to this segment is Creative Cloud, its subscription-based flagship, granting access to a comprehensive suite of creative tools. This division caters to a diverse range of users, from professional content creators and marketers to educators, communicators, and general consumers. Adobe’s Digital Experience division offers an integrated suite of applications and services designed to empower brands and businesses to craft, orchestrate, assess, and enhance customer journeys, from initial analytical insights to final commercial transactions. It serves a broad professional base including marketing teams, advertisers, agencies, data scientists, and senior executives. The Publishing and Advertising segment provides specialized offerings such as e-learning tools, technical documentation services, web conferencing solutions, advanced printing technologies, and its Advertising Cloud suite. Adobe engages directly with enterprise clients through its dedicated sales teams and regional offices. Individual end-users can access its offerings via app stores or its official website, adobe.com. Additionally, an extensive indirect channel supports distribution, encompassing partners such as distributors, value-added resellers, system integrators, software vendors, retailers, and original equipment manufacturers. Established in 1982, the company, initially named Adobe Systems Incorporated, rebranded as Adobe Inc. in October 2018. Its corporate headquarters are situated in San Jose, California.
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Revenue Segmentation
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ADBE full analysis
Hey everyone, welcome back to another deep dive into the markets. Today we're breaking down Adobe, ticker ADBE, and what the latest numbers and news really mean for investors right now. Adobe just posted another solid quarter with revenue climbing to 23.77 billion for the full year, but the stock has taken a beating lately amid executive changes and questions about how fast AI features will actually monetize. Let's unpack all of it together. Adobe has built one of the…
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 19,409,000 | 21,505,000 | 23,769,000 |
| Gross Profit | 17,055,000 | 19,147,000 | 21,218,000 |
| EBITDA | 7,784,000 | 7,957,000 | 9,815,000 |
| Operating Income | 6,650,000 | 6,741,000 | 8,706,000 |
| Net Income | 5,428,000 | 5,560,000 | 7,130,000 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 29,779,000 | 30,230,000 | 29,496,000 |
| Total Liabilities | 13,261,000 | 16,125,000 | 17,873,000 |
| Total Stockholders Equity | 16,518,000 | 14,105,000 | 11,623,000 |
| Total Debt | 4,080,000 | 6,056,000 | 6,648,000 |
| Cash and Cash Equivalents | 7,141,000 | 7,613,000 | 5,431,000 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 7,302,000 | 8,056,000 | 10,031,000 |
| Capital Expenditure | -360,000 | -232,000 | -179,000 |
| Free Cash Flow | 6,942,000 | 7,824,000 | 9,852,000 |
| Net Income | 5,428,000 | 5,560,000 | 7,130,000 |
| Net Change in Cash | 2,905,000 | 472,000 | -2,182,000 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2030 | Research Access | Research Access | Research Access | Research Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 36,765,568.896 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (High) | 38,149,201.110 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (Avg) | 37,385,300 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Low) | 18,759,488.461 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (High) | 19,642,333.354 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Avg) | 19,154,916.345 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Low) | 14,556,088.434 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (High) | 15,271,851.455 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Avg) | 14,876,680.034 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Low) | 12,652,202.100 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (High) | 13,128,353.970 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Avg) | 12,865,471.292 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Avg) | 34.840 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (High) | 35.770 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Low) | 34.090 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated Revenue) | 16 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated EPS) | 6 | Research Access | Research Access | Research Access | Research Access |
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Current Key Metrics
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Login — it's freeSWOT Analysis
Strengths (preview)
- Record revenue of $5.71 billion achieved in Q1 FY 2025, reflecting strong top-line performance.
- Demonstrated successful execution of AI-focused strategic initiatives as detailed in the earnings call.
- Effective positioning for sustained expansion in the digital economy based on Q1 results versus expectations.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MarketSnap estimates ADBE intrinsic value between $483.21 – $586.55 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
Common questions about ADBE valuation
Is Adobe Inc. (ADBE) overvalued or undervalued right now?
MarketSnap estimates intrinsic value for Adobe Inc. (ADBE) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is ADBE a buy, hold, or sell for long-term investors?
MarketSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether ADBE trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is ADBE’s P/E ratio?
You can see ADBE’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for ADBE?
MarketSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MarketSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is ADBE a good long-term investment?
Whether ADBE fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MarketSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
ADBE
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Daily snapshot
1.5
Trading Metrics:
| Open: | 249.96 | Previous Close: | 250.23 | |
| Day Low: | 248.62 | Day High: | 255.43 | |
| Year Low: | 190.12 | Year High: | 362.71 | |
| Price Avg 50: | 254.37 | Price Avg 200: | 250.44 | |
| Volume: | 2.111M | Average Volume: | 5.099M |
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