This is the standing evidence sheet for Adobe (ADBE): the yardsticks BullScope computes from official SEC filings and market prices. It refreshes whenever a new edition of our research is published, and it is impersonal by design, every reader sees the same page. Nothing here is investment advice; it is the evidence, organized.
The price tag: what buyers pay per dollar of profit
Today the market pays about $14.7 for each $1 of Adobe’s annual profit (a price-to-earnings ratio of 14.7). Across its own past decade the typical price tag was 31.4, which puts today at roughly the 9th percentile of the company’s own history.
The tape: what the stock itself has done
- Last price: $272.22 (end-of-day market data as of the edition date · methodology) · 26% below its 52-week high
- Past 6 months: +5.0% · past 12 months: -24.6%
- Day-to-day temperament: jumpy (annualized volatility 39%)
The filed record: straight from the annual reports
| Fiscal year | Revenue | Growth | Operating margin | EPS |
|---|---|---|---|---|
| FY2021 | $15.8B | , | 36.8% | $10.02 |
| FY2022 | $17.6B | +11.5% | 34.6% | $10.1 |
| FY2023 | $19.4B | +10.2% | 34.3% | $11.82 |
| FY2024 | $21.5B | +10.8% | 31.3% | $12.36 |
| FY2025 | $23.8B | +10.5% | 36.6% | $16.7 |
The road ahead: filed results vs published expectations
| FY2023A | FY2024A | FY2025A | FY2026E | FY2027E | |
|---|---|---|---|---|---|
| Net sales ($B) | 19.4 | 21.5 | 23.8 | 28.0 to 30.5 | 28.5 to 30.5 |
| Net sales growth (%) | +10.5 | +10.8 | +10.7 | 8 to 13 | 9 to 15 |
| Operating margin (%) | 34.5 | 31.2 | 36.6 | 35.8 to 38.2 | 35.0 to 39.0 |
| Diluted EPS ($) | 11.82 | 12.36 | 16.70 | 19.00 to 23.25 | 19.00 to 23.50 |
Columns marked A are actual filed results; E columns are the published consensus ranges the current price is being weighed against.
The four gauges: from the latest edition
BullScope coverage of Adobe
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Edition date: 2026-08-13. This page updates when a new edition is published. Sources: SEC EDGAR filings, Nasdaq prices; computed by BullScope’s published methodology.
