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Adobe Valuation Multiples

Discover revenue and EBITDA valuation multiples for Adobe and similar public comparables like HYBRID Software Group, Aerometrex, and Mensch und Maschine.

Adobe Overview

About Adobe

Adobe provides content creation, document management, and digital marketing and advertising software and services to creative professionals and marketers for creating, managing, delivering, measuring, optimizing, and engaging with compelling content multiple operating systems, devices, and media. The company operates with three segments: digital media content creation, digital experience for marketing solutions, and publishing for legacy products (less than 5% of revenue).


Founded

1983

HQ

United States of America
Employees

30.7K+

Website

adobe.com

Financials

LTM Revenue $22.5B

LTM EBITDA $11.1B

EV

$176B

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Adobe Financials

Adobe has a last 12-month revenue (LTM) of $22.5B and a last 12-month EBITDA of $11.1B.

In the most recent fiscal year, Adobe achieved revenue of $21.5B and an EBITDA of $8.0B.

Adobe expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Adobe P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $22.5B XXX $21.5B XXX XXX XXX
Gross Profit $20.2B XXX $19.1B XXX XXX XXX
Gross Margin 90% XXX 89% XXX XXX XXX
EBITDA $11.1B XXX $8.0B XXX XXX XXX
EBITDA Margin 49% XXX 37% XXX XXX XXX
EBIT $10.4B XXX $7.7B XXX XXX XXX
EBIT Margin 46% XXX 36% XXX XXX XXX
Net Profit $8.6B XXX $5.6B XXX XXX XXX
Net Margin 38% XXX 26% XXX XXX XXX
Net Debt XXX XXX n/a XXX XXX XXX

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Adobe Stock Performance

As of May 30, 2025, Adobe's stock price is $415.

Adobe has current market cap of $177B, and EV of $176B.

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Adobe Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$176B $177B XXX XXX XXX XXX $19.40

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Adobe Valuation Multiples

As of May 30, 2025, Adobe has market cap of $177B and EV of $176B.

Adobe's trades at 8.1x EV/Revenue multiple, and 21.3x EV/EBITDA.

Equity research analysts estimate Adobe's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

Adobe has a P/E ratio of 20.7x.

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Adobe Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $177B XXX $177B XXX XXX XXX
EV (current) $176B XXX $176B XXX XXX XXX
EV/Revenue 7.8x XXX 8.1x XXX XXX XXX
EV/EBITDA 15.9x XXX 21.3x XXX XXX XXX
EV/EBIT 16.9x XXX 22.0x XXX XXX XXX
EV/Gross Profit 8.7x XXX n/a XXX XXX XXX
P/E 20.7x XXX 30.3x XXX XXX XXX
EV/FCF 20.5x XXX 22.0x XXX XXX XXX

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Adobe Margins & Growth Rates

Adobe's last 12 month revenue growth is 9%

Adobe's revenue per employee in the last FY averaged $0.7M, while opex per employee averaged $0.4M for the same period.

Adobe's rule of 40 is 49% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Adobe's rule of X is 73% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Adobe Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 9% XXX 9% XXX XXX XXX
EBITDA Margin 49% XXX 38% XXX XXX XXX
EBITDA Growth 8% XXX 22% XXX XXX XXX
Rule of 40 49% XXX 47% XXX XXX XXX
Bessemer Rule of X XXX XXX 73% XXX XXX XXX
Revenue per Employee XXX XXX $0.7M XXX XXX XXX
Opex per Employee XXX XXX $0.4M XXX XXX XXX
S&M Expenses to Revenue XXX XXX 27% XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX 18% XXX XXX XXX
Opex to Revenue XXX XXX 53% XXX XXX XXX

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Valuation Multiples Across 220+ Verticals

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Adobe Public Comps

See public comps and valuation multiples for Design & Engineering Software and Content Management Software comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Aerometrex XXX XXX XXX XXX XXX XXX
Genesys International XXX XXX XXX XXX XXX XXX
HYBRID Software Group XXX XXX XXX XXX XXX XXX
Mensch und Maschine XXX XXX XXX XXX XXX XXX
Nemetschek XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Adobe M&A and Investment Activity

Adobe acquired  XXX companies to date.

Last acquisition by Adobe was  XXXXXXXX, XXXXX XXXXX XXXXXX . Adobe acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Adobe

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Adobe

When was Adobe founded? Adobe was founded in 1983.
Where is Adobe headquartered? Adobe is headquartered in United States of America.
How many employees does Adobe have? As of today, Adobe has 30.7K+ employees.
Who is the CEO of Adobe? Adobe's CEO is Mr. Shantanu Narayen.
Is Adobe publicy listed? Yes, Adobe is a public company listed on NAS.
What is the stock symbol of Adobe? Adobe trades under ADBE ticker.
When did Adobe go public? Adobe went public in 1986.
Who are competitors of Adobe? Similar companies to Adobe include e.g. Aerometrex, Genesys International, HYBRID Software Group, Mensch und Maschine.
What is the current market cap of Adobe? Adobe's current market cap is $177B
What is the current revenue of Adobe? Adobe's last 12 months revenue is $22.5B.
What is the current revenue growth of Adobe? Adobe revenue growth (NTM/LTM) is 9%.
What is the current EV/Revenue multiple of Adobe? Current revenue multiple of Adobe is 7.8x.
Is Adobe profitable? Yes, Adobe is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Adobe? Adobe's last 12 months EBITDA is $11.1B.
What is Adobe's EBITDA margin? Adobe's last 12 months EBITDA margin is 49%.
What is the current EV/EBITDA multiple of Adobe? Current EBITDA multiple of Adobe is 15.9x.
What is the current FCF of Adobe? Adobe's last 12 months FCF is $8.6B.
What is Adobe's FCF margin? Adobe's last 12 months FCF margin is 38%.
What is the current EV/FCF multiple of Adobe? Current FCF multiple of Adobe is 20.5x.

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