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Microsoft Excel LibreOffice Calc

Adobe Inc. (NASDAQ:ADBE)


Enterprise Value to FCFF (EV/FCFF)

Intermediate level


Free Cash Flow to The Firm (FCFF)

Adobe Inc., FCFF calculation

US$ in thousands

Microsoft Excel LibreOffice Calc
12 months ended Nov 29, 2019 Nov 30, 2018 Dec 1, 2017 Dec 2, 2016 Nov 27, 2015 Nov 28, 2014
Net income
Net noncash charges
Changes in operating assets and liabilities, net of acquired assets and assumed liabilities
Net cash provided by operating activities
Cash paid for interest, net of tax1
Purchases of property and equipment
Proceeds from sale of property
Free cash flow to the firm (FCFF)

Based on: 10-K (filing date: 2020-01-21), 10-K (filing date: 2019-01-25), 10-K (filing date: 2018-01-22), 10-K (filing date: 2017-01-20), 10-K (filing date: 2016-01-19), 10-K (filing date: 2015-01-20).

Item Description The company
FCFF Free cash flow to the firm is the cash flow available to the Adobe Inc.’s suppliers of capital after all operating expenses have been paid and necessary investments in working and fixed capital have been made. Adobe Inc.’s FCFF increased from 2017 to 2018 and from 2018 to 2019.

Interest Paid, Net of Tax

Adobe Inc., interest paid, net of tax calculation

US$ in thousands

Microsoft Excel LibreOffice Calc
12 months ended Nov 29, 2019 Nov 30, 2018 Dec 1, 2017 Dec 2, 2016 Nov 27, 2015 Nov 28, 2014
Effective Income Tax Rate (EITR)
EITR1
Interest Paid, Net of Tax
Cash paid for interest, before tax
Less: Cash paid for interest, tax2
Cash paid for interest, net of tax

Based on: 10-K (filing date: 2020-01-21), 10-K (filing date: 2019-01-25), 10-K (filing date: 2018-01-22), 10-K (filing date: 2017-01-20), 10-K (filing date: 2016-01-19), 10-K (filing date: 2015-01-20).

1 See details »

2 2019 Calculation
Cash paid for interest, tax = Cash paid for interest × EITR
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Enterprise Value to FCFF Ratio, Current

Adobe Inc., current EV/FCFF calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Selected Financial Data (US$ in thousands)
Enterprise value (EV)
Free cash flow to the firm (FCFF)
Valuation Ratio
EV/FCFF
Benchmarks
EV/FCFF, Competitors1
Alphabet Inc.
Facebook Inc.
International Business Machines Corp.
Intuit Inc.
Microsoft Corp.
Oracle Corp.
salesforce.com inc.
ServiceNow Inc.
EV/FCFF, Sector
Software & Computer Services
EV/FCFF, Industry
Technology

Based on: 10-K (filing date: 2020-01-21).

1 Click competitor name to see calculations.

If the company EV/FCFF is lower then the EV/FCFF of benchmark then company is relatively undervalued.
Otherwise, if the company EV/FCFF is higher then the EV/FCFF of benchmark then company is relatively overvalued.


Enterprise Value to FCFF Ratio, Historical

Adobe Inc., historical EV/FCFF calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Nov 29, 2019 Nov 30, 2018 Dec 1, 2017 Dec 2, 2016 Nov 27, 2015 Nov 28, 2014
Selected Financial Data (US$ in thousands)
Enterprise value (EV)1
Free cash flow to the firm (FCFF)2
Valuation Ratio
EV/FCFF3
Benchmarks
EV/FCFF, Competitors4
Alphabet Inc.
Facebook Inc.
International Business Machines Corp.
Intuit Inc.
Microsoft Corp.
Oracle Corp.
salesforce.com inc.
ServiceNow Inc.
EV/FCFF, Sector
Software & Computer Services
EV/FCFF, Industry
Technology

Based on: 10-K (filing date: 2020-01-21), 10-K (filing date: 2019-01-25), 10-K (filing date: 2018-01-22), 10-K (filing date: 2017-01-20), 10-K (filing date: 2016-01-19), 10-K (filing date: 2015-01-20).

1 See details »

2 See details »

3 2019 Calculation
EV/FCFF = EV ÷ FCFF
= hidden ÷ hidden = hidden

4 Click competitor name to see calculations.

Valuation ratio Description The company
EV/FCFF Enterprise value to free cash flow to the firm is whole company valuation indicator. Adobe Inc.’s EV/FCFF ratio decreased from 2017 to 2018 but then increased from 2018 to 2019 exceeding 2017 level.