Comprehensive Stock Comparison
Compare Adobe Inc. (ADBE) vs Kaltura, Inc. (KLTR) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | ADBE | 10.8% revenue growth vs KLTR's 2.0% |
| Value | ADBE | Lower P/E (11.2x vs 25.5x) |
| Quality / Margins | ADBE | 30.0% net margin vs KLTR's -7.1% |
| Stability / Safety | ADBE | Beta 0.86 vs KLTR's 1.06, lower leverage |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | KLTR | -34.4% vs ADBE's -40.2% |
| Efficiency (ROA) | ADBE | 24.2% ROA vs KLTR's -7.4%, ROIC 38.9% vs -39.2% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Adobe is a software company that provides creative, document, and customer experience management tools through cloud-based subscription services. It generates revenue primarily from its Digital Media segment — including Creative Cloud and Document Cloud subscriptions — which contributes about 70% of total revenue, with the remaining 30% coming from its Digital Experience platform for marketers and businesses. Adobe's competitive moat lies in its industry-standard creative software ecosystem — Photoshop, Illustrator, and Acrobat are deeply embedded in professional workflows — creating high switching costs and network effects.
Kaltura is a video technology company that provides a cloud-based platform for creating, managing, and distributing video content across various applications. It generates revenue primarily through subscription-based SaaS offerings — including video products for communication and collaboration, TV solutions for media companies, and developer-focused media services — with enterprise and education clients forming its core customer base. The company's competitive advantage lies in its comprehensive, API-driven platform that integrates video creation, management, distribution, and monetization into a single unified system, serving diverse industries from a common technology foundation.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
ADBE leads in 4 of 6 categories — strongest in Financial Metrics and Valuation Metrics. 1 category is tied.
Financial Metrics (TTM)
ADBE is the larger business by revenue, generating $23.8B annually — 131.4x KLTR's $181M. ADBE is the more profitable business, keeping 30.0% of every revenue dollar as net income compared to KLTR's -7.1%. On growth, ADBE holds the edge at +10.5% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ADBEAdobe Inc. | KLTRKaltura, Inc. |
|---|---|---|
| RevenueTrailing 12 months | $23.8B | $181M |
| EBITDAEarnings before interest/tax | $9.5B | -$4M |
| Net IncomeAfter-tax profit | $7.1B | -$13M |
| Free Cash FlowCash after capex | $9.9B | $15M |
| Gross MarginGross profit ÷ Revenue | +89.1% | +70.2% |
| Operating MarginEBIT ÷ Revenue | +36.6% | -4.9% |
| Net MarginNet income ÷ Revenue | +30.0% | -7.1% |
| FCF MarginFCF ÷ Revenue | +41.4% | +8.1% |
| Rev. Growth (YoY)Latest quarter vs prior year | +10.5% | -1.0% |
| EPS Growth (YoY)Latest quarter vs prior year | +17.1% | +182.6% |
Valuation Metrics
| Metric | ADBEAdobe Inc. | KLTRKaltura, Inc. |
|---|---|---|
| Market CapShares × price | $115.7B | $216M |
| Enterprise ValueMkt cap + debt − cash | $114.2B | $236M |
| Trailing P/EPrice ÷ TTM EPS | 21.23x | -6.62x |
| Forward P/EPrice ÷ next-FY EPS est. | 11.20x | 25.50x |
| PEG RatioP/E ÷ EPS growth rate | 1.37x | — |
| EV / EBITDAEnterprise value multiple | 15.03x | — |
| Price / SalesMarket cap ÷ Revenue | 5.38x | 1.21x |
| Price / BookPrice ÷ Book value/share | 8.37x | 8.43x |
| Price / FCFMarket cap ÷ FCF | 14.79x | 18.45x |
Profitability & Efficiency
ADBE delivers a 61.3% return on equity — every $100 of shareholder capital generates $61 in annual profit, vs $-72 for KLTR. ADBE carries lower financial leverage with a 0.43x debt-to-equity ratio, signaling a more conservative balance sheet compared to KLTR's 2.15x. On the Piotroski fundamental quality scale (0–9), KLTR scores 7/9 vs ADBE's 6/9, reflecting strong financial health.
| Metric | ADBEAdobe Inc. | KLTRKaltura, Inc. |
|---|---|---|
| ROE (TTM)Return on equity | +61.3% | -72.4% |
| ROA (TTM)Return on assets | +24.2% | -7.4% |
| ROICReturn on invested capital | +38.9% | -39.2% |
| ROCEReturn on capital employed | +32.7% | -29.5% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 7 |
| Debt / EquityFinancial leverage | 0.43x | 2.15x |
| Net DebtTotal debt minus cash | -$1.6B | $19M |
| Cash & Equiv.Liquid assets | $7.6B | $33M |
| Total DebtShort + long-term debt | $6.1B | $53M |
| Interest CoverageEBIT ÷ Interest expense | 33.96x | -1.35x |
Total Returns (with DRIP)
A $10,000 investment in ADBE five years ago would be worth $5,588 today (with dividends reinvested), compared to $1,158 for KLTR. Over the past 12 months, KLTR leads with a -34.4% total return vs ADBE's -40.2%. The 3-year compound annual growth rate (CAGR) favors ADBE at -6.8% vs KLTR's -10.4% — a key indicator of consistent wealth creation.
| Metric | ADBEAdobe Inc. | KLTRKaltura, Inc. |
|---|---|---|
| YTD ReturnYear-to-date | -21.3% | -10.9% |
| 1-Year ReturnPast 12 months | -40.2% | -34.4% |
| 3-Year ReturnCumulative with dividends | -19.0% | -28.0% |
| 5-Year ReturnCumulative with dividends | -44.1% | -88.4% |
| 10-Year ReturnCumulative with dividends | +208.2% | -88.4% |
| CAGR (3Y)Annualised 3-year return | -6.8% | -10.4% |
Risk & Volatility
ADBE is the less volatile stock with a 0.86 beta — it tends to amplify market swings less than KLTR's 1.06 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | ADBEAdobe Inc. | KLTRKaltura, Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.86x | 1.06x |
| 52-Week HighHighest price in past year | $453.26 | $2.33 |
| 52-Week LowLowest price in past year | $244.28 | $1.21 |
| % of 52W HighCurrent price vs 52-week peak | +57.9% | +59.7% |
| RSI (14)Momentum oscillator 0–100 | 36.5 | 43.4 |
| Avg Volume (50D)Average daily shares traded | 4.2M | 259K |
Analyst Outlook
Wall Street rates ADBE as "Buy" and KLTR as "Buy". Consensus price targets imply 187.8% upside for KLTR (target: $4) vs 43.3% for ADBE (target: $376).
| Metric | ADBEAdobe Inc. | KLTRKaltura, Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $375.94 | $4.00 |
| # AnalystsCovering analysts | 61 | 9 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | 0 | — |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | +8.2% | +1.4% |
Historical Charts
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Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Aug 21 | Feb 26 | Change |
|---|---|---|---|
| Adobe Inc. (ADBE) | 100 | 47.41 | -52.6% |
| Kaltura, Inc. (KLTR) | 105.75 | 13.25 | -87.5% |
Adobe Inc. (ADBE) returned -44% over 5 years vs Kaltura, Inc. (KLTR)'s -88%.
Chart 2Revenue Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Adobe Inc. (ADBE) | $4.8B | $21.5B | +348.4% |
| Kaltura, Inc. (KLTR) | $97M | $179M | +83.6% |
Adobe Inc.'s revenue grew from $4.8B (2015) to $21.5B (2024) — a 18.1% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Adobe Inc. (ADBE) | 13.1% | 25.9% | +96.9% |
| Kaltura, Inc. (KLTR) | -16.0% | -17.5% | -9.5% |
Adobe Inc.'s net margin went from 13% (2015) to 26% (2024).
Chart 4P/E Ratio History — 8 Years
| Stock | 2017 | 2024 | Change |
|---|---|---|---|
| Adobe Inc. (ADBE) | 51.8 | 36 | -30.5% |
Adobe Inc. has traded in a 33x–57x P/E range over 8 years; current trailing P/E is ~21x.
Chart 5EPS Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Adobe Inc. (ADBE) | 1.24 | 12.36 | +896.8% |
| Kaltura, Inc. (KLTR) | -0.12 | -0.21 | -75.0% |
Adobe Inc.'s EPS grew from $1.24 (2015) to $12.36 (2024) — a 29% CAGR.
Chart 6Free Cash Flow — 5 Years
Adobe Inc. generated $8B FCF in 2024 (+14% vs 2021). Kaltura, Inc. generated $12M FCF in 2024 (+142% vs 2021).
ADBE vs KLTR: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is ADBE or KLTR a better buy right now?
Adobe Inc. (ADBE) offers the better valuation at 21.2x trailing P/E (11.2x forward), making it the more compelling value choice. Analysts rate Adobe Inc. (ADBE) a "Buy" — based on 61 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — ADBE or KLTR?
On forward P/E, Adobe Inc. is actually cheaper at 11.2x.
03Which is the better long-term investment — ADBE or KLTR?
Over the past 5 years, Adobe Inc. (ADBE) delivered a total return of -44.1%, compared to -88.4% for Kaltura, Inc. (KLTR). A $10,000 investment in ADBE five years ago would be worth approximately $6K today (assuming dividends reinvested). Over 10 years, the gap is even starker: ADBE returned +208.2% versus KLTR's -88.4%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — ADBE or KLTR?
By beta (market sensitivity over 5 years), Adobe Inc. (ADBE) is the lower-risk stock at 0.86β versus Kaltura, Inc.'s 1.06β — meaning KLTR is approximately 24% more volatile than ADBE relative to the S&P 500. On balance sheet safety, Adobe Inc. (ADBE) carries a lower debt/equity ratio of 43% versus 2% for Kaltura, Inc. — giving it more financial flexibility in a downturn.
05Which has better profit margins — ADBE or KLTR?
Adobe Inc. (ADBE) is the more profitable company, earning 25.9% net margin versus -17.5% for Kaltura, Inc. — meaning it keeps 25.9% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: ADBE leads at 31.3% versus -13.5% for KLTR. At the gross margin level — before operating expenses — ADBE leads at 89.0%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is ADBE or KLTR more undervalued right now?
On forward earnings alone, Adobe Inc. (ADBE) trades at 11.2x forward P/E versus 25.5x for Kaltura, Inc. — 14.3x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for KLTR: 187.8% to $4.00.
07Which pays a better dividend — ADBE or KLTR?
None of the stocks in this comparison currently pay a material dividend. All are effectively zero-yield and should be held for capital appreciation rather than income.
08Is ADBE or KLTR better for a retirement portfolio?
For long-horizon retirement investors, Adobe Inc. (ADBE) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.86), +208.2% 10Y return). Both have compounded well over 10 years (ADBE: +208.2%, KLTR: -88.4%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between ADBE and KLTR?
Both stocks operate in the Technology sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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