Price to Earnings (P/E)
since 2005
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- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Geographic Areas
- Price to FCFE (P/FCFE)
- Net Profit Margin since 2005
- Return on Assets (ROA) since 2005
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Calculation
Adobe Inc., P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net income1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Jan 15, 2026 | = | ÷ | = | ÷ | |||||||
| Jan 13, 2025 | = | ÷ | = | ÷ | |||||||
| Jan 17, 2024 | = | ÷ | = | ÷ | |||||||
| Jan 17, 2023 | = | ÷ | = | ÷ | |||||||
| Jan 21, 2022 | = | ÷ | = | ÷ | |||||||
| Jan 15, 2021 | = | ÷ | = | ÷ | |||||||
| Jan 21, 2020 | = | ÷ | = | ÷ | |||||||
| Jan 25, 2019 | = | ÷ | = | ÷ | |||||||
| Jan 22, 2018 | = | ÷ | = | ÷ | |||||||
| Jan 20, 2017 | = | ÷ | = | ÷ | |||||||
| Jan 19, 2016 | = | ÷ | = | ÷ | |||||||
| Jan 20, 2015 | = | ÷ | = | ÷ | |||||||
| Jan 21, 2014 | = | ÷ | = | ÷ | |||||||
| Jan 22, 2013 | = | ÷ | = | ÷ | |||||||
| Jan 26, 2012 | = | ÷ | = | ÷ | |||||||
| Jan 27, 2011 | = | ÷ | = | ÷ | |||||||
| Jan 22, 2010 | = | ÷ | = | ÷ | |||||||
| Jan 23, 2009 | = | ÷ | = | ÷ | |||||||
| Jan 24, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 5, 2007 | = | ÷ | = | ÷ | |||||||
| Feb 8, 2006 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2025-11-28), 10-K (reporting date: 2024-11-29), 10-K (reporting date: 2023-12-01), 10-K (reporting date: 2022-12-02), 10-K (reporting date: 2021-12-03), 10-K (reporting date: 2020-11-27), 10-K (reporting date: 2019-11-29), 10-K (reporting date: 2018-11-30), 10-K (reporting date: 2017-12-01), 10-K (reporting date: 2016-12-02), 10-K (reporting date: 2015-11-27), 10-K (reporting date: 2014-11-28), 10-K (reporting date: 2013-11-29), 10-K (reporting date: 2012-11-30), 10-K (reporting date: 2011-12-02), 10-K (reporting date: 2010-12-03), 10-K (reporting date: 2009-11-27), 10-K (reporting date: 2008-11-28), 10-K (reporting date: 2007-11-30), 10-K (reporting date: 2006-12-01), 10-K (reporting date: 2005-12-02).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Adobe Inc. Annual Report.
The price-to-earnings (P/E) ratio exhibited considerable fluctuation over the observed period. Initially, the ratio demonstrated volatility, moving from 38.61 to 44.72, then decreasing to 27.23 before reaching a low of 11.84. Subsequent years showed a rebound, peaking at 104.21 before entering another period of variability.
- Early Period (2006-2009)
- The initial years displayed a fluctuating P/E ratio. A significant decline occurred between 2007 and 2009, coinciding with a substantial decrease in share price and a temporary increase in earnings per share (EPS). This suggests a potential market correction or a period of economic uncertainty impacting investor sentiment.
- Recovery and Peak (2010-2014)
- From 2010 to 2014, the P/E ratio generally increased, reaching its highest point at 104.21. This rise was driven by a combination of increasing share price and, initially, decreasing EPS, followed by a modest recovery in EPS. The substantial increase in the P/E ratio indicates growing investor confidence and a willingness to pay a premium for each dollar of earnings.
- Subsequent Volatility (2015-2024)
- Following the peak, the P/E ratio experienced renewed volatility. It decreased from 132.73 to 33.15 over the next few years, then increased again to 49.64 before declining to 17.51. This period coincided with consistently increasing EPS, but also significant fluctuations in share price. The ratio’s movement suggests that market perception of the company’s value was sensitive to changes in share price, despite strong earnings growth.
- Recent Trends (2023-2026)
- The most recent observations show a substantial decrease in the P/E ratio from 33.15 to 17.51. While EPS continued to rise, the share price experienced a more pronounced decline. This suggests a potential shift in investor expectations or a reassessment of the company’s future growth prospects. The latest value of 17.51 represents a relatively low P/E ratio compared to the historical range, potentially indicating undervaluation or increased risk perception.
Overall, the P/E ratio demonstrates a complex pattern influenced by both share price and EPS. Periods of high P/E ratios suggest strong investor confidence, while lower ratios may indicate market concerns or undervaluation. The observed fluctuations highlight the dynamic nature of market valuation and the importance of considering both earnings and price when assessing a company’s investment potential.
Comparison to Competitors
Adobe Inc., P/E, long-term trends, comparison to competitors
| Adobe Inc. | Accenture PLC | AppLovin Corp. | Cadence Design Systems Inc. | CrowdStrike Holdings Inc. | Datadog Inc. | International Business Machines Corp. | Intuit Inc. | Microsoft Corp. | Oracle Corp. | Palantir Technologies Inc. | Palo Alto Networks Inc. | Salesforce Inc. | ServiceNow Inc. | Synopsys Inc. | Workday Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Jan 15, 2026 | ||||||||||||||||
| Jan 13, 2025 | ||||||||||||||||
| Jan 17, 2024 | ||||||||||||||||
| Jan 17, 2023 | ||||||||||||||||
| Jan 21, 2022 | ||||||||||||||||
| Jan 15, 2021 | ||||||||||||||||
| Jan 21, 2020 | ||||||||||||||||
| Jan 25, 2019 | ||||||||||||||||
| Jan 22, 2018 | ||||||||||||||||
| Jan 20, 2017 | ||||||||||||||||
| Jan 19, 2016 | ||||||||||||||||
| Jan 20, 2015 | ||||||||||||||||
| Jan 21, 2014 | ||||||||||||||||
| Jan 22, 2013 | ||||||||||||||||
| Jan 26, 2012 | ||||||||||||||||
| Jan 27, 2011 | ||||||||||||||||
| Jan 22, 2010 | ||||||||||||||||
| Jan 23, 2009 | ||||||||||||||||
| Jan 24, 2008 | ||||||||||||||||
| Feb 5, 2007 | ||||||||||||||||
| Feb 8, 2006 |
Based on: 10-K (reporting date: 2025-11-28), 10-K (reporting date: 2024-11-29), 10-K (reporting date: 2023-12-01), 10-K (reporting date: 2022-12-02), 10-K (reporting date: 2021-12-03), 10-K (reporting date: 2020-11-27), 10-K (reporting date: 2019-11-29), 10-K (reporting date: 2018-11-30), 10-K (reporting date: 2017-12-01), 10-K (reporting date: 2016-12-02), 10-K (reporting date: 2015-11-27), 10-K (reporting date: 2014-11-28), 10-K (reporting date: 2013-11-29), 10-K (reporting date: 2012-11-30), 10-K (reporting date: 2011-12-02), 10-K (reporting date: 2010-12-03), 10-K (reporting date: 2009-11-27), 10-K (reporting date: 2008-11-28), 10-K (reporting date: 2007-11-30), 10-K (reporting date: 2006-12-01), 10-K (reporting date: 2005-12-02).
Comparison to Sector (Software & Services)
Adobe Inc., P/E, long-term trends, comparison to sector (software & services)
| Adobe Inc. | Software & Services | |
|---|---|---|
| Jan 15, 2026 | ||
| Jan 13, 2025 | ||
| Jan 17, 2024 | ||
| Jan 17, 2023 | ||
| Jan 21, 2022 | ||
| Jan 15, 2021 | ||
| Jan 21, 2020 | ||
| Jan 25, 2019 | ||
| Jan 22, 2018 | ||
| Jan 20, 2017 | ||
| Jan 19, 2016 | ||
| Jan 20, 2015 | ||
| Jan 21, 2014 | ||
| Jan 22, 2013 | ||
| Jan 26, 2012 | ||
| Jan 27, 2011 | ||
| Jan 22, 2010 | ||
| Jan 23, 2009 | ||
| Jan 24, 2008 | ||
| Feb 5, 2007 | ||
| Feb 8, 2006 |
Based on: 10-K (reporting date: 2025-11-28), 10-K (reporting date: 2024-11-29), 10-K (reporting date: 2023-12-01), 10-K (reporting date: 2022-12-02), 10-K (reporting date: 2021-12-03), 10-K (reporting date: 2020-11-27), 10-K (reporting date: 2019-11-29), 10-K (reporting date: 2018-11-30), 10-K (reporting date: 2017-12-01), 10-K (reporting date: 2016-12-02), 10-K (reporting date: 2015-11-27), 10-K (reporting date: 2014-11-28), 10-K (reporting date: 2013-11-29), 10-K (reporting date: 2012-11-30), 10-K (reporting date: 2011-12-02), 10-K (reporting date: 2010-12-03), 10-K (reporting date: 2009-11-27), 10-K (reporting date: 2008-11-28), 10-K (reporting date: 2007-11-30), 10-K (reporting date: 2006-12-01), 10-K (reporting date: 2005-12-02).
Comparison to Industry (Information Technology)
Adobe Inc., P/E, long-term trends, comparison to industry (information technology)
| Adobe Inc. | Information Technology | |
|---|---|---|
| Jan 15, 2026 | ||
| Jan 13, 2025 | ||
| Jan 17, 2024 | ||
| Jan 17, 2023 | ||
| Jan 21, 2022 | ||
| Jan 15, 2021 | ||
| Jan 21, 2020 | ||
| Jan 25, 2019 | ||
| Jan 22, 2018 | ||
| Jan 20, 2017 | ||
| Jan 19, 2016 | ||
| Jan 20, 2015 | ||
| Jan 21, 2014 | ||
| Jan 22, 2013 | ||
| Jan 26, 2012 | ||
| Jan 27, 2011 | ||
| Jan 22, 2010 | ||
| Jan 23, 2009 | ||
| Jan 24, 2008 | ||
| Feb 5, 2007 | ||
| Feb 8, 2006 |
Based on: 10-K (reporting date: 2025-11-28), 10-K (reporting date: 2024-11-29), 10-K (reporting date: 2023-12-01), 10-K (reporting date: 2022-12-02), 10-K (reporting date: 2021-12-03), 10-K (reporting date: 2020-11-27), 10-K (reporting date: 2019-11-29), 10-K (reporting date: 2018-11-30), 10-K (reporting date: 2017-12-01), 10-K (reporting date: 2016-12-02), 10-K (reporting date: 2015-11-27), 10-K (reporting date: 2014-11-28), 10-K (reporting date: 2013-11-29), 10-K (reporting date: 2012-11-30), 10-K (reporting date: 2011-12-02), 10-K (reporting date: 2010-12-03), 10-K (reporting date: 2009-11-27), 10-K (reporting date: 2008-11-28), 10-K (reporting date: 2007-11-30), 10-K (reporting date: 2006-12-01), 10-K (reporting date: 2005-12-02).