Stock Analysis on Net

Adobe Inc. (NASDAQ:ADBE)

Common Stock Valuation Ratios (Price Multiples)
Quarterly Data

Microsoft Excel

Historical Valuation Ratios (Summary)

Adobe Inc., historical price multiples (quarterly data)

Microsoft Excel
Mar 1, 2024 Dec 1, 2023 Sep 1, 2023 Jun 2, 2023 Mar 3, 2023 Dec 2, 2022 Sep 2, 2022 Jun 3, 2022 Mar 4, 2022 Dec 3, 2021 Sep 3, 2021 Jun 4, 2021 Mar 5, 2021 Nov 27, 2020 Aug 28, 2020 May 29, 2020 Feb 28, 2020 Nov 29, 2019 Aug 30, 2019 May 31, 2019 Mar 1, 2019 Nov 30, 2018 Aug 31, 2018 Jun 1, 2018 Mar 2, 2018
Price to earnings (P/E) 47.07 49.64 44.69 45.30 36.72 33.15 27.18 35.27 45.03 48.90 47.07 49.98 40.82 41.69 58.43 55.97 45.60 57.17 49.46 52.86 47.73 46.11
Price to operating profit (P/OP) 37.84 40.52 35.69 35.47 28.49 25.85 21.47 28.50 36.67 40.64 49.83 54.24 47.80 51.75 56.53 54.83 41.99 51.63 45.51 48.61 45.19 42.06
Price to sales (P/S) 11.33 13.88 12.12 11.93 9.66 8.95 7.61 10.33 13.47 14.94 18.20 19.39 16.61 17.04 18.15 17.19 12.64 15.11 12.91 13.88 13.40 13.23
Price to book value (P/BV) 14.62 16.31 14.51 14.82 12.24 11.22 9.10 12.33 15.78 15.94 19.07 20.14 16.77 16.53 19.27 19.03 14.08 16.03 13.41 14.11 12.97 12.76 14.79 13.37 12.12

Based on: 10-Q (reporting date: 2024-03-01), 10-K (reporting date: 2023-12-01), 10-Q (reporting date: 2023-09-01), 10-Q (reporting date: 2023-06-02), 10-Q (reporting date: 2023-03-03), 10-K (reporting date: 2022-12-02), 10-Q (reporting date: 2022-09-02), 10-Q (reporting date: 2022-06-03), 10-Q (reporting date: 2022-03-04), 10-K (reporting date: 2021-12-03), 10-Q (reporting date: 2021-09-03), 10-Q (reporting date: 2021-06-04), 10-Q (reporting date: 2021-03-05), 10-K (reporting date: 2020-11-27), 10-Q (reporting date: 2020-08-28), 10-Q (reporting date: 2020-05-29), 10-Q (reporting date: 2020-02-28), 10-K (reporting date: 2019-11-29), 10-Q (reporting date: 2019-08-30), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-03-01), 10-K (reporting date: 2018-11-30), 10-Q (reporting date: 2018-08-31), 10-Q (reporting date: 2018-06-01), 10-Q (reporting date: 2018-03-02).

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Adobe Inc. P/E ratio increased from Q3 2023 to Q4 2023 but then slightly decreased from Q4 2023 to Q1 2024 not reaching Q3 2023 level.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Adobe Inc. P/OP ratio increased from Q3 2023 to Q4 2023 but then slightly decreased from Q4 2023 to Q1 2024 not reaching Q3 2023 level.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Adobe Inc. P/S ratio increased from Q3 2023 to Q4 2023 but then decreased significantly from Q4 2023 to Q1 2024.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Adobe Inc. P/BV ratio increased from Q3 2023 to Q4 2023 but then slightly decreased from Q4 2023 to Q1 2024 not reaching Q3 2023 level.

Price to Earnings (P/E)

Adobe Inc., historical P/E calculation (quarterly data)

Microsoft Excel
Mar 1, 2024 Dec 1, 2023 Sep 1, 2023 Jun 2, 2023 Mar 3, 2023 Dec 2, 2022 Sep 2, 2022 Jun 3, 2022 Mar 4, 2022 Dec 3, 2021 Sep 3, 2021 Jun 4, 2021 Mar 5, 2021 Nov 27, 2020 Aug 28, 2020 May 29, 2020 Feb 28, 2020 Nov 29, 2019 Aug 30, 2019 May 31, 2019 Mar 1, 2019 Nov 30, 2018 Aug 31, 2018 Jun 1, 2018 Mar 2, 2018
No. shares of common stock outstanding1 448,000,000 452,000,000 455,300,000 455,800,000 458,700,000 457,800,000 464,900,000 468,000,000 472,500,000 471,700,000 475,800,000 476,400,000 478,000,000 478,700,000 479,718,983 479,665,239 481,800,850 482,130,975 484,078,609 485,438,762 487,950,943 487,725,915 488,133,527 489,662,656 492,470,335
Selected Financial Data (US$)
Net income (in millions) 620 1,483 1,403 1,295 1,247 1,176 1,136 1,178 1,266 1,233 1,212 1,116 1,261 2,250 955 1,100 955 852 793 633 674 678 666 663 583
Earnings per share (EPS)2 10.72 12.01 11.25 10.65 10.33 10.39 10.35 10.45 10.22 10.22 12.27 11.72 11.64 10.99 8.05 7.71 6.71 6.12 5.74 5.46 5.50 5.31 0.00 0.00 0.00
Share price1, 3 504.40 596.10 502.60 482.43 379.16 344.38 281.40 368.50 460.06 499.91 577.70 585.64 475.37 458.08 470.39 431.68 305.91 350.00 283.81 288.72 262.34 244.95 268.47 237.68 212.54
Valuation Ratio
P/E ratio4 47.07 49.64 44.69 45.30 36.72 33.15 27.18 35.27 45.03 48.90 47.07 49.98 40.82 41.69 58.43 55.97 45.60 57.17 49.46 52.86 47.73 46.11
Benchmarks
P/E Ratio, Competitors5
Accenture PLC 31.14 27.81 27.07 24.73 23.64 22.93 27.30 31.69 40.88 36.58 32.02 31.11 31.97 28.32 27.95 20.33 27.24 24.58 24.95 25.00 21.74 24.10
International Business Machines Corp. 22.50 19.07 63.16 62.36 71.56 95.23 20.78 22.19 19.40 23.26 23.99 23.63 19.30 12.46 14.07 12.44 13.35
Intuit Inc. 61.19 64.61 56.26 59.38 56.80 57.31 40.47 63.28 85.13 75.17 56.40 62.56 48.28 49.52 56.56 45.75 44.67 48.17 37.91 44.17 40.14 46.88
Microsoft Corp. 31.86 33.96 29.67 26.71 26.77 28.34 27.89 30.38 34.30 35.14 35.22 34.15 33.95 35.04 29.08 28.84 25.48 26.86 27.43 24.33 41.74 50.00
Oracle Corp. 32.03 38.96 27.11 24.69 35.29 26.85 27.46 26.70 17.45 15.84 15.15 17.19 17.88 16.69 14.05 15.99 16.13 16.89 17.00 41.89 48.26 45.90
Palo Alto Networks Inc. 127.16 170.35 290.24 1,656.40
Salesforce Inc. 547.14 879.57 528.78 324.46 174.67 135.68 147.95 110.94 48.91 48.20 58.10 104.23 1,204.70 188.52 139.92 106.17 107.70
ServiceNow Inc. 90.80 71.21 80.21 231.71 284.28 417.74 479.20 452.04 487.70 620.23 681.34 654.66 978.47 142.19 113.61 99.10 106.89
Synopsys Inc. 62.39 70.08 62.65 67.52 57.28 51.76 53.76 46.52 48.45 73.37 64.13 45.71 56.52 55.92 51.53 54.36 46.45 39.55 32.80 28.89 26.11 29.60

Based on: 10-Q (reporting date: 2024-03-01), 10-K (reporting date: 2023-12-01), 10-Q (reporting date: 2023-09-01), 10-Q (reporting date: 2023-06-02), 10-Q (reporting date: 2023-03-03), 10-K (reporting date: 2022-12-02), 10-Q (reporting date: 2022-09-02), 10-Q (reporting date: 2022-06-03), 10-Q (reporting date: 2022-03-04), 10-K (reporting date: 2021-12-03), 10-Q (reporting date: 2021-09-03), 10-Q (reporting date: 2021-06-04), 10-Q (reporting date: 2021-03-05), 10-K (reporting date: 2020-11-27), 10-Q (reporting date: 2020-08-28), 10-Q (reporting date: 2020-05-29), 10-Q (reporting date: 2020-02-28), 10-K (reporting date: 2019-11-29), 10-Q (reporting date: 2019-08-30), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-03-01), 10-K (reporting date: 2018-11-30), 10-Q (reporting date: 2018-08-31), 10-Q (reporting date: 2018-06-01), 10-Q (reporting date: 2018-03-02).

1 Data adjusted for splits and stock dividends.

2 Q1 2024 Calculation
EPS = (Net incomeQ1 2024 + Net incomeQ4 2023 + Net incomeQ3 2023 + Net incomeQ2 2023) ÷ No. shares of common stock outstanding
= (620,000,000 + 1,483,000,000 + 1,403,000,000 + 1,295,000,000) ÷ 448,000,000 = 10.72

3 Closing price as at the filing date of Adobe Inc. Quarterly or Annual Report.

4 Q1 2024 Calculation
P/E ratio = Share price ÷ EPS
= 504.40 ÷ 10.72 = 47.07

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Adobe Inc. P/E ratio increased from Q3 2023 to Q4 2023 but then slightly decreased from Q4 2023 to Q1 2024 not reaching Q3 2023 level.

Price to Operating Profit (P/OP)

Adobe Inc., historical P/OP calculation (quarterly data)

Microsoft Excel
Mar 1, 2024 Dec 1, 2023 Sep 1, 2023 Jun 2, 2023 Mar 3, 2023 Dec 2, 2022 Sep 2, 2022 Jun 3, 2022 Mar 4, 2022 Dec 3, 2021 Sep 3, 2021 Jun 4, 2021 Mar 5, 2021 Nov 27, 2020 Aug 28, 2020 May 29, 2020 Feb 28, 2020 Nov 29, 2019 Aug 30, 2019 May 31, 2019 Mar 1, 2019 Nov 30, 2018 Aug 31, 2018 Jun 1, 2018 Mar 2, 2018
No. shares of common stock outstanding1 448,000,000 452,000,000 455,300,000 455,800,000 458,700,000 457,800,000 464,900,000 468,000,000 472,500,000 471,700,000 475,800,000 476,400,000 478,000,000 478,700,000 479,718,983 479,665,239 481,800,850 482,130,975 484,078,609 485,438,762 487,950,943 487,725,915 488,133,527 489,662,656 492,470,335
Selected Financial Data (US$)
Operating income (in millions) 907 1,743 1,697 1,624 1,586 1,505 1,484 1,529 1,580 1,501 1,441 1,406 1,454 1,215 1,069 1,016 937 970 854 750 695 721 719 698 703
Operating profit per share2 13.33 14.71 14.08 13.60 13.31 13.32 13.11 12.93 12.55 12.30 11.59 10.80 9.95 8.85 8.32 7.87 7.29 6.78 6.24 5.94 5.80 5.82 0.00 0.00 0.00
Share price1, 3 504.40 596.10 502.60 482.43 379.16 344.38 281.40 368.50 460.06 499.91 577.70 585.64 475.37 458.08 470.39 431.68 305.91 350.00 283.81 288.72 262.34 244.95 268.47 237.68 212.54
Valuation Ratio
P/OP ratio4 37.84 40.52 35.69 35.47 28.49 25.85 21.47 28.50 36.67 40.64 49.83 54.24 47.80 51.75 56.53 54.83 41.99 51.63 45.51 48.61 45.19 42.06
Benchmarks
P/OP Ratio, Competitors5
Accenture PLC 24.40 21.69 21.16 18.24 17.50 16.83 19.98 23.62 31.03 28.35 25.67 24.96 25.29 22.21 21.16 15.44 20.55 18.63 18.87 18.37 15.30 16.75
International Business Machines Corp. 17.99 14.81 15.22 13.98 14.35 15.37 15.24 17.07 16.23 19.92 19.33 17.63 15.90 10.75 12.76 12.48 11.94
Intuit Inc. 46.91 49.04 41.32 43.34 43.50 46.05 33.22 53.54 71.64 62.00 46.48 52.54 39.99 41.56 49.11 39.04 37.66 40.45 32.48 37.00 32.80 37.92
Microsoft Corp. 26.16 27.76 24.15 21.76 22.07 24.72 24.66 27.51 31.35 30.79 30.72 29.13 28.71 29.30 25.90 25.91 22.91 24.54 23.40 20.99 21.05 23.63
Oracle Corp. 21.82 25.30 16.87 15.50 20.25 16.51 18.93 24.87 15.78 14.31 12.98 12.20 12.88 12.17 10.92 12.75 12.96 13.83 13.38 12.20 13.73 12.83
Palo Alto Networks Inc. 132.92 193.40 418.83 2,480.99
Salesforce Inc. 145.83 177.62 295.77 2,318.80 818.64 357.52 280.57 236.57 228.93 431.39 914.43 3,682.10 511.08 295.22 267.46 221.93 223.46
ServiceNow Inc. 206.26 174.57 225.28 224.96 260.26 357.30 404.46 408.11 436.46 570.38 493.80 404.36 583.07 475.62 421.22 625.53 1,590.30
Synopsys Inc. 63.96 67.90 61.35 62.50 50.41 43.85 48.91 42.54 47.17 75.64 65.25 49.28 59.98 59.90 58.40 54.81 48.73 40.48 45.42 45.04 38.51 35.54

Based on: 10-Q (reporting date: 2024-03-01), 10-K (reporting date: 2023-12-01), 10-Q (reporting date: 2023-09-01), 10-Q (reporting date: 2023-06-02), 10-Q (reporting date: 2023-03-03), 10-K (reporting date: 2022-12-02), 10-Q (reporting date: 2022-09-02), 10-Q (reporting date: 2022-06-03), 10-Q (reporting date: 2022-03-04), 10-K (reporting date: 2021-12-03), 10-Q (reporting date: 2021-09-03), 10-Q (reporting date: 2021-06-04), 10-Q (reporting date: 2021-03-05), 10-K (reporting date: 2020-11-27), 10-Q (reporting date: 2020-08-28), 10-Q (reporting date: 2020-05-29), 10-Q (reporting date: 2020-02-28), 10-K (reporting date: 2019-11-29), 10-Q (reporting date: 2019-08-30), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-03-01), 10-K (reporting date: 2018-11-30), 10-Q (reporting date: 2018-08-31), 10-Q (reporting date: 2018-06-01), 10-Q (reporting date: 2018-03-02).

1 Data adjusted for splits and stock dividends.

2 Q1 2024 Calculation
Operating profit per share = (Operating incomeQ1 2024 + Operating incomeQ4 2023 + Operating incomeQ3 2023 + Operating incomeQ2 2023) ÷ No. shares of common stock outstanding
= (907,000,000 + 1,743,000,000 + 1,697,000,000 + 1,624,000,000) ÷ 448,000,000 = 13.33

3 Closing price as at the filing date of Adobe Inc. Quarterly or Annual Report.

4 Q1 2024 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 504.40 ÷ 13.33 = 37.84

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Adobe Inc. P/OP ratio increased from Q3 2023 to Q4 2023 but then slightly decreased from Q4 2023 to Q1 2024 not reaching Q3 2023 level.

Price to Sales (P/S)

Adobe Inc., historical P/S calculation (quarterly data)

Microsoft Excel
Mar 1, 2024 Dec 1, 2023 Sep 1, 2023 Jun 2, 2023 Mar 3, 2023 Dec 2, 2022 Sep 2, 2022 Jun 3, 2022 Mar 4, 2022 Dec 3, 2021 Sep 3, 2021 Jun 4, 2021 Mar 5, 2021 Nov 27, 2020 Aug 28, 2020 May 29, 2020 Feb 28, 2020 Nov 29, 2019 Aug 30, 2019 May 31, 2019 Mar 1, 2019 Nov 30, 2018 Aug 31, 2018 Jun 1, 2018 Mar 2, 2018
No. shares of common stock outstanding1 448,000,000 452,000,000 455,300,000 455,800,000 458,700,000 457,800,000 464,900,000 468,000,000 472,500,000 471,700,000 475,800,000 476,400,000 478,000,000 478,700,000 479,718,983 479,665,239 481,800,850 482,130,975 484,078,609 485,438,762 487,950,943 487,725,915 488,133,527 489,662,656 492,470,335
Selected Financial Data (US$)
Revenue (in millions) 5,182 5,048 4,890 4,816 4,655 4,525 4,433 4,386 4,262 4,110 3,935 3,835 3,905 3,424 3,225 3,128 3,091 2,992 2,834 2,744 2,601 2,465 2,291 2,195 2,079
Sales per share2 44.50 42.94 41.48 40.43 39.24 38.46 36.98 35.67 34.16 33.46 31.73 30.20 28.62 26.88 25.92 25.11 24.20 23.17 21.99 20.81 19.58 18.51 0.00 0.00 0.00
Share price1, 3 504.40 596.10 502.60 482.43 379.16 344.38 281.40 368.50 460.06 499.91 577.70 585.64 475.37 458.08 470.39 431.68 305.91 350.00 283.81 288.72 262.34 244.95 268.47 237.68 212.54
Valuation Ratio
P/S ratio4 11.33 13.88 12.12 11.93 9.66 8.95 7.61 10.33 13.47 14.94 18.20 19.39 16.61 17.04 18.15 17.19 12.64 15.11 12.91 13.88 13.40 13.23
Benchmarks
P/S Ratio, Competitors5
Accenture PLC 3.32 2.98 3.05 2.72 2.67 2.56 3.04 3.57 4.72 4.28 3.86 3.72 3.75 3.26 3.11 2.26 3.01 2.72 2.73 2.63 2.17 2.35
International Business Machines Corp. 2.73 2.16 2.11 1.89 1.94 1.99 1.95 2.10 1.94 1.82 1.96 1.83 1.47 1.31 1.47 1.46 1.63
Intuit Inc. 10.73 10.72 8.95 8.44 8.01 9.30 7.87 12.04 17.26 16.09 13.50 14.16 12.12 11.78 11.03 10.47 10.18 11.05 9.23 10.11 8.31 9.52
Microsoft Corp. 11.25 11.60 9.86 8.83 9.20 10.40 10.50 11.70 13.21 12.81 12.33 11.43 10.96 10.85 9.70 9.52 8.07 8.38 7.84 6.89 6.84 7.51
Oracle Corp. 5.89 6.63 4.73 4.71 4.64 4.25 4.96 6.62 5.96 5.38 4.90 4.53 4.67 4.33 3.80 4.42 4.47 4.74 4.61 4.19 4.70 4.41
Palo Alto Networks Inc. 10.83 10.87 9.63 9.23 8.70 9.62 9.22 9.68 11.48 10.72 8.85 9.71 7.64 6.66 7.03 6.29 7.16 7.06 7.13 9.22 6.77 9.75
Salesforce Inc. 6.44 5.84 4.85 5.93 6.27 7.40 10.30 11.09 9.72 9.24 10.19 12.73 8.72 8.88 8.75 9.02 8.77 9.00
ServiceNow Inc. 17.52 13.33 14.25 12.17 12.75 12.13 13.36 16.11 19.02 24.74 22.46 20.63 25.66 23.60 20.92 18.03 19.36
Synopsys Inc. 14.32 14.75 11.72 11.75 10.44 10.03 11.21 9.86 9.78 13.22 11.85 9.27 10.69 10.08 9.21 7.59 6.65 6.27 6.21 5.41 4.85 4.10

Based on: 10-Q (reporting date: 2024-03-01), 10-K (reporting date: 2023-12-01), 10-Q (reporting date: 2023-09-01), 10-Q (reporting date: 2023-06-02), 10-Q (reporting date: 2023-03-03), 10-K (reporting date: 2022-12-02), 10-Q (reporting date: 2022-09-02), 10-Q (reporting date: 2022-06-03), 10-Q (reporting date: 2022-03-04), 10-K (reporting date: 2021-12-03), 10-Q (reporting date: 2021-09-03), 10-Q (reporting date: 2021-06-04), 10-Q (reporting date: 2021-03-05), 10-K (reporting date: 2020-11-27), 10-Q (reporting date: 2020-08-28), 10-Q (reporting date: 2020-05-29), 10-Q (reporting date: 2020-02-28), 10-K (reporting date: 2019-11-29), 10-Q (reporting date: 2019-08-30), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-03-01), 10-K (reporting date: 2018-11-30), 10-Q (reporting date: 2018-08-31), 10-Q (reporting date: 2018-06-01), 10-Q (reporting date: 2018-03-02).

1 Data adjusted for splits and stock dividends.

2 Q1 2024 Calculation
Sales per share = (RevenueQ1 2024 + RevenueQ4 2023 + RevenueQ3 2023 + RevenueQ2 2023) ÷ No. shares of common stock outstanding
= (5,182,000,000 + 5,048,000,000 + 4,890,000,000 + 4,816,000,000) ÷ 448,000,000 = 44.50

3 Closing price as at the filing date of Adobe Inc. Quarterly or Annual Report.

4 Q1 2024 Calculation
P/S ratio = Share price ÷ Sales per share
= 504.40 ÷ 44.50 = 11.33

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Adobe Inc. P/S ratio increased from Q3 2023 to Q4 2023 but then decreased significantly from Q4 2023 to Q1 2024.

Price to Book Value (P/BV)

Adobe Inc., historical P/BV calculation (quarterly data)

Microsoft Excel
Mar 1, 2024 Dec 1, 2023 Sep 1, 2023 Jun 2, 2023 Mar 3, 2023 Dec 2, 2022 Sep 2, 2022 Jun 3, 2022 Mar 4, 2022 Dec 3, 2021 Sep 3, 2021 Jun 4, 2021 Mar 5, 2021 Nov 27, 2020 Aug 28, 2020 May 29, 2020 Feb 28, 2020 Nov 29, 2019 Aug 30, 2019 May 31, 2019 Mar 1, 2019 Nov 30, 2018 Aug 31, 2018 Jun 1, 2018 Mar 2, 2018
No. shares of common stock outstanding1 448,000,000 452,000,000 455,300,000 455,800,000 458,700,000 457,800,000 464,900,000 468,000,000 472,500,000 471,700,000 475,800,000 476,400,000 478,000,000 478,700,000 479,718,983 479,665,239 481,800,850 482,130,975 484,078,609 485,438,762 487,950,943 487,725,915 488,133,527 489,662,656 492,470,335
Selected Financial Data (US$)
Stockholders’ equity (in millions) 15,460 16,518 15,776 14,838 14,206 14,051 14,373 13,985 13,775 14,797 14,414 13,852 13,546 13,264 11,713 10,881 10,465 10,530 10,243 9,932 9,871 9,362 8,862 8,706 8,634
Book value per share (BVPS)2 34.51 36.54 34.65 32.55 30.97 30.69 30.92 29.88 29.15 31.37 30.29 29.08 28.34 27.71 24.42 22.68 21.72 21.84 21.16 20.46 20.23 19.20 18.15 17.78 17.53
Share price1, 3 504.40 596.10 502.60 482.43 379.16 344.38 281.40 368.50 460.06 499.91 577.70 585.64 475.37 458.08 470.39 431.68 305.91 350.00 283.81 288.72 262.34 244.95 268.47 237.68 212.54
Valuation Ratio
P/BV ratio4 14.62 16.31 14.51 14.82 12.24 11.22 9.10 12.33 15.78 15.94 19.07 20.14 16.77 16.53 19.27 19.03 14.08 16.03 13.41 14.11 12.97 12.76 14.79 13.37 12.12
Benchmarks
P/BV Ratio, Competitors5
Accenture PLC 8.03 7.44 7.65 7.22 7.26 7.13 8.46 9.85 12.45 11.06 9.57 9.27 9.38 8.51 8.64 6.53 8.73 8.15 8.50 8.38 7.22 9.44 10.77 9.99 10.78
International Business Machines Corp. 7.49 5.72 5.76 5.29 5.34 5.99 5.98 6.43 5.90 4.99 5.83 5.93 5.24 4.65 5.39 5.61 6.04 6.67 7.52 7.55
Intuit Inc. 9.31 8.92 7.16 7.29 6.64 7.20 5.97 8.81 18.30 15.71 12.05 12.32 18.11 17.71 15.95 20.02 19.43 20.00 15.37 23.25 18.21 24.12 20.68 38.10 33.53
Microsoft Corp. 11.13 11.92 10.52 9.84 10.77 12.38 12.40 13.52 15.32 15.16 14.67 13.45 13.07 13.11 11.75 11.61 9.87 10.30 10.10 8.86 9.14 10.02 9.14 9.34 6.78
Oracle Corp. 126.71 308.71 41.57 21.84 22.54 19.31 14.01 10.62 11.23 9.59 8.59 7.70 5.45 4.92 3.84 4.02 3.54 3.60
Palo Alto Networks Inc. 35.97 42.84 50.71 77.94 99.68 251.98 141.27 399.29 100.84 71.88 35.40 35.42 36.65 20.61 30.82 12.21 14.24 12.91 13.49 22.29 13.10 22.92 26.22 25.13 20.63
Salesforce Inc. 3.61 3.13 2.48 2.89 2.98 3.37 4.51 4.70 5.10 4.73 5.13 6.42 4.60 4.48 4.17 7.74 7.48 7.66 7.32 8.54 8.58
ServiceNow Inc. 20.60 15.73 16.49 16.55 18.36 18.56 21.02 25.22 30.36 38.72 35.47 32.82 40.91 37.26 33.38 29.58 31.48 31.83 38.92 41.50
Synopsys Inc. 13.16 14.02 10.87 10.66 9.58 9.24 9.90 8.43 8.17 10.50 9.38 7.26 8.37 7.57 7.04 6.04 5.41 5.16 5.22 4.47 4.08 3.68 4.81 4.04 4.04

Based on: 10-Q (reporting date: 2024-03-01), 10-K (reporting date: 2023-12-01), 10-Q (reporting date: 2023-09-01), 10-Q (reporting date: 2023-06-02), 10-Q (reporting date: 2023-03-03), 10-K (reporting date: 2022-12-02), 10-Q (reporting date: 2022-09-02), 10-Q (reporting date: 2022-06-03), 10-Q (reporting date: 2022-03-04), 10-K (reporting date: 2021-12-03), 10-Q (reporting date: 2021-09-03), 10-Q (reporting date: 2021-06-04), 10-Q (reporting date: 2021-03-05), 10-K (reporting date: 2020-11-27), 10-Q (reporting date: 2020-08-28), 10-Q (reporting date: 2020-05-29), 10-Q (reporting date: 2020-02-28), 10-K (reporting date: 2019-11-29), 10-Q (reporting date: 2019-08-30), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-03-01), 10-K (reporting date: 2018-11-30), 10-Q (reporting date: 2018-08-31), 10-Q (reporting date: 2018-06-01), 10-Q (reporting date: 2018-03-02).

1 Data adjusted for splits and stock dividends.

2 Q1 2024 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= 15,460,000,000 ÷ 448,000,000 = 34.51

3 Closing price as at the filing date of Adobe Inc. Quarterly or Annual Report.

4 Q1 2024 Calculation
P/BV ratio = Share price ÷ BVPS
= 504.40 ÷ 34.51 = 14.62

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Adobe Inc. P/BV ratio increased from Q3 2023 to Q4 2023 but then slightly decreased from Q4 2023 to Q1 2024 not reaching Q3 2023 level.