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Earnings transcript
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ADBE
Adobe Inc.
$242.92
1.55
(0.64%)
| Exchange: | NASDAQ |
| Market Cap: | 99.023B |
| Shares Outstanding: | 240M |
About The Company
| Sector: | Technology | |||||
| Industry: | Software – Infrastructure | |||||
| CEO: | Shantanu Narayen | |||||
| Full Time Employees: | 30709 | |||||
| Address: |
| |||||
| Website: | https://www.adobe.com |
Adobe Inc. operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform. Its flagship product is Creative Cloud, a subscription service that allows members to access its creative products. This segment serves content creators, workers, marketers, educators, enthusiasts, communicators, and consumers. The Digital Experience segment provides an integrated platform and set of applications and services that enable brands and businesses to create, manage, execute, measure, monetize, and optimize customer experiences from analytics to commerce. This segment serves marketers, advertisers, agencies, publishers, merchandisers, merchants, web analysts, data scientists, developers, and executives across the C-suite. The Publishing and Advertising segment offers products and services, such as e-learning solutions, technical document publishing, web conferencing, document and forms platform, web application development, and high-end printing, as well as Advertising Cloud offerings. The company offers its products and services directly to enterprise customers through its sales force and local field offices, as well as to end users through app stores and through its website at adobe.com. It also distributes products and services through a network of distributors, value-added resellers, systems integrators, software vendors and developers, retailers, and original equipment manufacturers. The company was formerly known as Adobe Systems Incorporated and changed its name to Adobe Inc. in October 2018. Adobe Inc. was founded in 1982 and is headquartered in San Jose, California.
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Revenue Segmentation
EPS
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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 | 21,061,000 |
| EBITDA | 7,784,000 | 7,957,000 | 9,749,000 |
| 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 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 35,832,240.450 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 37,346,250.441 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 36,520,700 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 14,367,292.248 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 14,974,349.572 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 14,643,336.934 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 13,887,299.682 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 14,654,533.284 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 14,236,180.033 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 12,331,014.084 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 12,852,033.096 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 12,567,934.921 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 33.340 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 34.320 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 32.520 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 8 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 7 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Robust Revenue Growth: Adobe reported a record revenue of $5.71 billion in Q1 FY 2025, as highlighted in the earnings call transcript, reflecting strong performance across its product segments and successful execution of strategic initiatives.
- Innovation in AI and Digital Solutions: The earnings call emphasized Adobe’s focus on AI-driven products, positioning the company as a leader in digital transformation and contributing to sustained growth in the digital economy.
- Solid Financial Health: Based on income statement data, Adobe demonstrates consistent growth in net income and operating cash flow, supported by strong gross and net profit margins (per key metrics), indicating operational efficiency.
- Market Leadership: As part of the software industry within the technology sector, Adobe benefits from a strong market position, evidenced by its high market capitalization and ability to outperform industry averages in key performance metrics over multiple timeframes (per performance data).
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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 $255.83 – $548.82 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
1-day price chart preview. Log in for 1W through 5Y ranges and period tabs.
0.64
Trading Metrics:
| Open: | 242.46 | Previous Close: | 241.37 | |
| Day Low: | 237.73 | Day High: | 245.01 | |
| Year Low: | 233.16 | Year High: | 422.95 | |
| Price Avg 50: | 264.86 | Price Avg 200: | 327.76 | |
| Volume: | 3.587M | Average Volume: | 5.866M |
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Login — it's freeADBE full analysis
Welcome to MARKETSNAP’s SWOT analysis for Adobe, the powerhouse in creative and digital solutions that most of you already know well. Today, we’re diving deep into what makes Adobe tick, breaking down its strengths, weaknesses, opportunities, and threats, all while keeping an eye on what this means for you as a long-term investor. Let’s unpack the latest developments, financials, and trends to see if Adobe remains a solid pick for your portfolio. Before we jump into the core analysis, let’s…
