Adobe Inc.

NasdaqGS:ADBE 주식 리포트

시가총액: US$102.3b

Adobe 대차대조표 건전성

재무 건전성 기준 점검 4/6

Adobe 의 총 주주 지분은 $11.4B 이고 총 부채는 $6.2B, 이는 부채 대 자기자본 비율을 54.6% 로 가져옵니다. 총자산과 총부채는 각각 $29.7B 및 $18.3B 입니다. Adobe 의 EBIT는 $9.0B 이며 이자보상배율은 530.8 입니다. $6.9B 의 현금 및 단기 투자금을 보유하고 있습니다.

핵심 정보

54.60%

부채/자본 비율

US$6.24b

부채

이자보상배율530.8x
현금US$6.90b
자본US$11.43b
총부채US$18.27b
총자산US$29.70b

최근 재무 건전성 업데이트

업데이트 없음

Recent updates

새 내러티브 • May 07

Good Value for a Creative Monopoly

Adobe’s strategic positioning ensures it remains the creative industry’s "operating system," regardless of whether AI succeeds or fails. By building Firefly exclusively on licensed Adobe Stock and public domain content, Adobe has created a unique "legal moat" that offers enterprise customers commercial safety and IP indemnity that competitors cannot match.
Seeking Alpha • May 06

Adobe: The Next Nokia?

Summary Adobe faces existential risk as generative AI threatens to erode its product uniqueness and mass-market user base. Despite a forward P/E of 10.4x–12x and $24B TTM revenue, I rate ADBE a Sell due to looming margin compression and competitive threats. Management's $25B share buyback prioritizes short-term share support over critical R&D investment, jeopardizing long-term technological leadership. Leadership transition and a strategic pivot to integrating third-party AI signal capitulation, echoing historical declines like Nokia’s post-2008 trajectory. Read the full article on Seeking Alpha
새 내러티브 • May 04

Classic Value Trap

Adobe was an amazing company. I'm an end user since 1991.
내러티브 업데이트 • Apr 30

ADBE: AI Competition And CEO Transition Will Reshape Future Cash Flows

Adobe's updated analyst price target has shifted from about $580 to roughly $456 as analysts factor in rising AI competition, a series of target cuts across major firms, and added uncertainty around the CEO transition and annual recurring revenue trends. Analyst Commentary Recent research on Adobe clusters around a few key themes that matter for you as an investor: how the market is pricing AI competition, what the CEO transition means for execution, and how annual recurring revenue trends feed into valuation.
내러티브 업데이트 • Apr 16

ADBE: Generative AI And Freemium Adoption Will Shape Future Earnings Power

Adobe's analyst price target has been adjusted slightly higher, with analysts pointing to updated expectations for revenue growth, profit margins, and future P/E in light of recent Q1 results, CEO transition news, and ongoing discussion around AI related opportunities and headwinds. Analyst Commentary Wall Street views on Adobe are mixed, with many firms trimming price targets and recalibrating ratings after the Q1 print and the CEO transition update.
내러티브 업데이트 • Apr 01

ADBE: Generative AI Monetization And Freemium User Growth Will Drive Future Revenue

Adobe's updated fair value estimate has been reduced from about $408 to roughly $328 as analysts factor in a lower future P/E, softer growth assumptions, and fresh uncertainty tied to the CEO transition and AI-driven shifts in its core businesses. Analyst Commentary Recent research on Adobe reflects a clear reset in expectations, with many firms cutting price targets and adjusting ratings to reflect CEO transition risk, AI related disruption, and softer growth metrics such as net new annual recurring revenue.
분석 기사 • Apr 01

Why Adobe's (NASDAQ:ADBE) Earnings Are Better Than They Seem

The market seemed underwhelmed by the solid earnings posted by Adobe Inc. ( NASDAQ:ADBE ) recently. Along with the...
내러티브 업데이트 • Mar 18

ADBE: CEO Transition Will Intensify AI Monetization Uncertainty And Multiple Compression

Analysts have reduced the Adobe price target to $220 from $271.93, reflecting softer revenue growth assumptions, a lower future P/E outlook, and heightened uncertainty around the CEO transition and the pace of AI driven monetization. Analyst Commentary Recent research on Adobe shows a clear tilt toward caution, with multiple price target cuts and rating downgrades clustering around the latest fiscal Q1 report and the CEO transition announcement.
내러티브 업데이트 • Mar 04

ADBE: AI Adoption And Generative Credits Will Drive Future Revenue Milestones

Our updated view trims Adobe's fair value estimate from $447.56 to $408.47, reflecting a lower assumed future P/E of about 21.2x. This is in line with a wave of reduced Street price targets around $290 to $375 and analyst concerns about competitive pressure, AI related execution risks, and more muted near term upside for the shares.
새 내러티브 • Mar 01

Adobe Inc. (ADBE): Defending the Creative Moat – Pre-Earnings Pulse in a Generative AI Era

Adobe (ADBE) enters March 2026 at a critical crossroads, currently trading at $262.41 as of the February 27 close. The stock has weathered a punishing 2025 and early 2026, down roughly 42% from its 52-week high, primarily due to "AI existentialism"—the market's fear that generative AI competitors might commoditize Adobe’s core Creative Cloud.
내러티브 업데이트 • Feb 18

ADBE: AI Transition And Creative Ecosystem Partnerships Will Reshape Future Cash Flows

Our fair value estimate for Adobe has edged higher to $580.27 from $575.83 as analysts broadly reduce price targets and ratings in response to softer Digital Media growth expectations, questions about the durability of the competitive moat, and concerns that AI benefits may be slower to show up in revenue and margins than previously hoped. Analyst Commentary Recent Street research on Adobe has tilted more cautious, with several firms cutting ratings and price targets as they reassess Digital Media growth expectations, competition, and the timing of AI monetization.
내러티브 업데이트 • Feb 04

ADBE: AI Transition And Semrush Deal Will Reshape Future Cash Flows

Analysts have trimmed their fair value estimate for Adobe slightly, to about $576 per share. They cite a wave of recent downgrades and reduced price targets that reflect concerns about limited near term upside, competitive pressure in creative tools, and uncertainty over how much the current AI transition will benefit the business.
내러티브 업데이트 • Jan 21

ADBE: Future AI And Semrush Deal Will Reshape Cash Flow Profile

Analysts have reduced their Adobe fair value estimate by about US$7 to roughly US$578, citing a lower future P/E assumption and recent price target cuts that reflect concerns about near term growth momentum and competitive pressures. Analyst Commentary Recent Street research on Adobe has tilted more cautious, with several firms cutting ratings and price targets as they reassess expectations around AI driven growth, competitive intensity and near term execution.
내러티브 업데이트 • Jan 07

ADBE: Future AI And Marketing Deals Will Reshape Cash Flow Profile

Narrative Update on Adobe Analysts have revised their Adobe fair value estimate from $605.00 to about $585.69. This reflects slightly lower revenue growth and profit margin assumptions, a somewhat higher discount rate, and a partially offsetting increase in the future P/E input in their models.
내러티브 업데이트 • Dec 23

ADBE: Rising AI Costs Will Pressure Margins And Drive Multiple Compression

Analysts have reduced their fair value estimate for Adobe from $380.00 to about $271.93 per share, citing expectations for slightly slower revenue growth, lower long term profit margins, and a more conservative valuation multiple. Analyst Commentary Bearish analysts have become more vocal on Adobe, pointing to a combination of moderating growth expectations and tighter competitive dynamics across creative, document, and marketing workflows.
내러티브 업데이트 • Dec 20

Adobe Stock: When Creativity Software Becomes an AI-Native Platform

Adobe (NASDAQ: ADBE) has spent decades defining how digital creativity is produced, edited, and distributed. From Photoshop to Premiere to Acrobat, its tools are embedded deeply into professional and consumer workflows.
내러티브 업데이트 • Dec 09

ADBE: AI Adoption And Acquisitions Will Drive Future Revenue Milestones

Analysts have nudged their average price target on Adobe slightly lower, trimming fair value by about $3 to approximately $448 as they factor in modestly slower revenue growth, slightly softer long term margins, and a marginally higher discount rate, despite continued momentum in AI driven products. Analyst Commentary Analysts remain divided on Adobe's outlook, with most acknowledging solid execution in the near term but reassessing the pace and durability of growth as the company leans further into AI infused offerings.
내러티브 업데이트 • Nov 24

ADBE: Ongoing AI Product Adoption Will Drive Early Revenue Milestones And Overcome Doubts

Adobe's analyst price target has been revised downward by approximately $6 to $450. Analysts are trimming future growth and profit expectations in light of continued AI-driven uncertainty and evolving competitive dynamics.
새 내러티브 • Oct 09

A Fair Price for a Great Business Facing Real Threats

TLDR; "HOLD" The story of Adobe today is that of a wide-moat champion that has been knocked from its pedestal. After a deep-dive analysis, our conclusion is that Adobe remains a world-class business, but the competitive landscape has fundamentally changed.
내러티브 업데이트 • Sep 23

Firefly And GenStudio Will Transform Marketing And Boost Future Engagement

Analysts have reduced Adobe’s price target to $456.18 due to persistent AI-related uncertainty, slowing revenue growth, and intensified competition, despite continued strong execution and early AI monetization progress. Analyst Commentary Ongoing AI uncertainty and heightened competitive pressures are weighing on long-term growth assumptions and sector valuation multiples, leading to widespread target cuts, despite continued Outperform/Overweight ratings from many bullish analysts.
내러티브 업데이트 • Sep 08

Firefly And GenStudio Will Transform Marketing And Boost Future Engagement

Analysts moderately lowered Adobe's price target to $475.45 amid mixed views—bulls cite resilient margins, disciplined execution, and AI potential, while bears flag Creative Cloud market share losses and AI competition—leaving fair value edging slightly lower. Analyst Commentary Bullish analysts highlight Adobe’s potential as a long-term AI winner, citing its commercially safe generative content approach, resilient top line, disciplined expense management, and industry-leading margins as supportive of attractive long-term value.
분석 기사 • Jul 02

We Think Adobe's (NASDAQ:ADBE) Robust Earnings Are Conservative

The subdued stock price reaction suggests that Adobe Inc.'s ( NASDAQ:ADBE ) strong earnings didn't offer any surprises...
분석 기사 • Jun 27

Analyst Estimates: Here's What Brokers Think Of Adobe Inc. (NASDAQ:ADBE) After Its Second-Quarter Report

Adobe Inc. ( NASDAQ:ADBE ) last week reported its latest quarterly results, which makes it a good time for investors to...
분석 기사 • May 27

We Like Adobe's (NASDAQ:ADBE) Returns And Here's How They're Trending

If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...
Seeking Alpha • Apr 23

Adobe: Near 50% Decline Creates Great Buying Opportunity (Rating Upgrade)

Summary You might have missed it, but Adobe's stock has been crushed. The company has a net cash balance sheet, top-tier GAAP margins, and an aggressive share repurchase program. Consensus estimates might be optimistic, but it doesn't matter. I am upgrading the stock to a strong buy rating. Read the full article on Seeking Alpha
Seeking Alpha • Apr 09

OpenAI's Breakthrough Is Terrible For Adobe

Summary Rapidly advancing AI image/video generators (e.g., OpenAI’s 4o) threaten Adobe’s long-standing creative software dominance. As AI democratizes content creation, Adobe’s premium subscription model faces commoditization risks. Despite headwinds, Adobe’s strong revenue growth and massive user base offer a foundation for pivoting into AI. Adobe must keep pace with resource-heavy tech giants and specialized AI startups or risk losing its competitive moat. Read the full article on Seeking Alpha
새 내러티브 • Apr 08

Firefly And GenStudio Will Empower Creative Evolution

AI product integration, like Firefly and GenStudio, aims to boost user engagement, supporting revenue growth and enhancing monetization.
새 내러티브 • Apr 08

Generative AI, Firefly App And Express Will Expand Future Reach

AI integration and new app expansions boost user engagement and capture next-gen users, driving subscription sales and revenue growth.
Seeking Alpha • Mar 19

Adobe: Strong FCF Growth, But Growth Stabilization Needed

Summary Adobe's 1Q FY2025 earnings beat expectations, but weak 2Q guidance points to a continued growth slowdown and margin contraction despite improving GenAI monetization. Management reiterated its FY2025 outlook despite delivering better-than-expected 1Q FY2025 earnings. 1Q FY2025 total bookings declined 1.9% YoY, marking the first negative growth since 2Q FY2022 and raising concerns about weaker demand. Despite the growth slowdown, the company delivered strong FCF, with sequential growth acceleration. The 10% post-earnings selloff seems overdone, presenting a buying opportunity as the stock trades at 19.6x non-GAAP forward P/E. Read the full article on Seeking Alpha
Seeking Alpha • Mar 13

Adobe Has Become A GARP Play (Rating Upgrade)

Summary Adobe Inc.'s GenAI tools, including Firefly, offer significant growth potential by streamlining marketing workflows, potentially allowing for growth during a time of budgetary constraints across marketing departments. Adobe's integrated Firefly subscription and One Adobe platform aim to enhance creative and marketing collaboration, driving strong growth prospects. Despite being a late mover in GenAI, ADBE's focus on safety and enterprise integration provides a competitive edge in the crowded AI market. Read the full article on Seeking Alpha
Seeking Alpha • Mar 07

Adobe Is A Compelling Buy

Summary Adobe's reliable subscription-based model and strong fundamentals, including impressive revenue and net income growth, make it a solid investment. Adobe's comprehensive software suite and seamless cloud integration provide a significant competitive moat, despite increasing competition and AI advancements. Valuation is reasonable, with forward P/E ratios and price/free cash flow multiples aligning well with sector averages, presenting a good entry point. Despite competitive risks, Adobe's financial health and strategic AI integration position it well for sustained growth and shareholder returns. Read the full article on Seeking Alpha
Seeking Alpha • Feb 27

Adobe: Buy This Overlooked Industry Leader At A Reasonable Price

Summary Adobe stock is 36% off its all-time high, making it reasonably priced despite slower growth and competition from cheaper alternatives like Canva. Adobe's growth has slowed to the low-double digits, but it remains a growing industry leader, and the growth rate is expected to be relatively steady from here. Adobe's Creative Cloud and continuous innovation in AI keep it indispensable for professionals, with an estimated 37 million Creative Cloud subscribers. I expect more buybacks from the company, which should support the share price. Read the full article on Seeking Alpha
Seeking Alpha • Feb 12

Adobe's AI Strategy Is Paying Off: Why This Stock Could Surge

Summary Adobe is undervalued at $450, with a target price of $600, driven by strong subscription revenue and AI integration. Despite competition fears, Adobe's core audience remains loyal, and AI features are boosting customer retention and engagement. Adobe's financials are robust, with 89% gross margins, growing revenue, and significant free cash flow, making it a stable investment. The market is overlooking Adobe's potential, presenting a great buying opportunity with at least a 33% upside in the next 12 months. Read the full article on Seeking Alpha

재무 상태 분석

단기부채: ADBE 의 단기 자산 ( $10.4B )은 단기 부채( $11.4B ).

장기 부채: ADBE의 단기 자산($10.4B)이 장기 부채($6.9B)를 초과합니다.

부채/자본 비율 추이 및 분석

부채 수준: ADBE 총 부채보다 더 많은 현금을 보유하고 있습니다.

부채 감소: ADBE의 부채 대비 자본 비율은 지난 5년 동안 30.4%에서 54.6%로 증가했습니다.

부채 범위: ADBE 의 부채는 영업 현금 흐름 ( 168.3% )에 의해 잘 충당되었습니다.

이자 보장: ADBE 의 부채에 대한 이자 지급은 EBIT(530.8x 적용 범위)로 잘 충당됩니다.

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기업 분석 및 재무 데이터 상태

데이터최종 업데이트 (UTC 시간)
기업 분석2026/05/11 19:06
종가2026/05/11 00:00
수익2026/02/27
연간 수익2025/11/28

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분석가 소스

Adobe Inc.는 64명의 분석가가 다루고 있습니다. 이 중 37명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.

분석가기관
Joseph BonnerArgus Research Company
Robert OliverBaird
Saket KaliaBarclays