Adobe Inc. (ADBE) Stock

Adobe Inc. (ADBE) is a Technology stock trading at $236.98 (as of 2026-07-17), with a market capitalization of $95.79B and a trailing P/E of 13.3. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Adobe Inc. provides software for creating, publishing, and promoting digital content, managing digital customer experiences, and delivering publishing and advertising-related solutions. It operates across Digital Media, Digital Experience, and Publishing and Advertising segments, serving content creators and enterprises, brands and businesses, and organizations such as marketers and publishers.

Understand Adobe Inc.: how it makes money

Adobe makes and sells creative and document software through subscription products like Creative Cloud and cloud document services like Document Cloud, earning revenue primarily from subscriptions.

Adobe’s profit engine is subscription software recurring revenue, where growth and visibility are expressed through annualized recurring revenue metrics such as net new Digital Media annualized recurring revenue and remaining performance obligations.

Revenue by segment (latest quarter)
Digital Media	$4.6B
Digital Experience	$1.5B

Business quality (Exceptional): Adobe’s model is built around recurring subscriptions (including Creative Cloud and Document Cloud), with strong profitability, and it provides investors visibility via recurring-revenue metrics like remaining performance obligations.

Valuation: Trades at 12× trailing earnings · $82B market cap.

Bull case

Subscription-heavy revenue: Subscription Revenue is 6.2B out of 6.6B total revenue for the period shown, indicating a large recurring component to the business.
Recurring revenue visibility: Remaining Performance Obligations is 22.27B, which helps communicate the expected conversion of contracted revenue over time.
Product focus on Creative Cloud and Document Cloud: Digital Media includes Creative Cloud as a subscription service, and it also includes Document Cloud, a unified cloud-based document services platform.

Bear case

Growth sensitivity to subscription momentum: Net New Digital Media Annualized Recurring Revenue is a key operating metric, so changes in new subscription demand could affect future recurring revenue.
Remainder of revenue is less visible in the provided segment breakdown: Only Digital Media and Digital Experience segment revenues are provided here, so the Publishing and Advertising segment revenue is not explicitly shown in the provided segment data.
Execution risk around recurring contracts: Remaining Performance Obligations is an important visibility metric, and any mismatch between contracted work and recognized revenue timing can create volatility in reported results.

Valuation — source: SEC EDGAR (first-party)
Price	$236.98
Market Cap	$95.79B
P/E Ratio	13.3
EV / EBITDA	9.9
Price / Book	8.32
Price / Sales	3.80
FCF Yield	11.2%
DCF Value (model)	$256.94
DCF Upside vs Price	8.4%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$23.77B
Net Margin	30.0%
Revenue Growth (YoY)	12.7%
EPS Growth (YoY)	7.8%
FCF Growth (YoY)	9.3%

Financial Health — source: SEC EDGAR
Altman Z-Score	7.20 (safe)
Piotroski F-Score	7/9 (strong)

Valuation vs Sector & Industry
Stock P/E	13.3
Sector P/E (Technology)	34.7
Industry P/E (Business Services)	30.7
vs Sector	-61.8%
vs Industry	-56.9%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Insider Sells (12mo)	1
Top Institutional Holder	VANGUARD GROUP INC ($14.45B)
Institutional Holders Tracked	10
Congressional Trades (recent)	10

Company
Sector	Technology
Industry	Business Services
CEO	Shantanu Narayen
Employees	30,709
Country	US
IPO Date	1986-08-13

Related Companies (Business model: SaaS / Subscription Software (Enterprise); 8 closest by market cap; US-domiciled)

Data as of 2026-07-17.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.