Adobe Inc. (ADBE) P/E Ratio History
Deep ValueTrading at 11.7x · 0th percentile of 5-year range · Significant discount to historical valuation · Data 1990–2026
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P/E Ratio Analysis
As of June 20, 2026, Adobe Inc. (ADBE) trades at a price-to-earnings ratio of 11.7x, with a stock price of $195.16 and trailing twelve-month earnings per share of $17.98.
The current P/E is 69% below its 5-year average of 38.2x. Over the past five years, ADBE's P/E has ranged from a low of 14.8x to a high of 61.5x, placing the current valuation at the 0th percentile of its historical range.
Compared to the Technology sector median P/E of 29.0x, ADBE trades at a 60% discount to its sector peers. The sector includes 352 companies with P/E ratios ranging from 0.0x to 187.7x.
The PEG ratio of 1.29 (P/E divided by 35% EPS growth) suggests a fair valuation relative to its earnings growth. Peter Lynch popularized the rule that a PEG below 1.0 indicates an attractive entry point.
Relative to the broader market, ADBE trades at a notable discount to the S&P 500 median P/E of 24.4x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our ADBE DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
ADBE Cross-Benchmark Valuation
How does the current P/E compare to sector peers and the broader market?
ADBE P/E vs Peers
Content collaboration and file sharing peers sorted by market cap
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $124B | 19.5 | 1.59 | +23% | |
| $2.8T | 27.8 | 1.48 | +16% | |
| $530B | 31.6 | 6.22 | +34% | |
| $98B | 56.9 | 0.82Best | +22% | |
| $73B | 19.5 | 1.34 | +31% | |
| $58M | 18.6Lowest | - | +109%Best | |
| $2B | 48.3 | - | -63% | |
| $4.4T | 39.9 | 2.24 | +23% | |
| $4.5T | 34.0 | 1.14 | +34% |
Lower P/E can signal a discount or weaker growth expectations; PEG adds growth context.
ADBE Historical P/E Data (1990–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Period End | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q2 | May 29 2026 | $259.21 | $17.48 | 14.8x | -64% |
| FY2026 Q1 | Feb 27 2026 | $262.41 | $17.18 | 15.3x | -63% |
| FY2025 Q4 | Nov 28 2025 | $320.13 | $16.71 | 19.2x | -54% |
| FY2025 Q3 | Aug 29 2025 | $356.70 | $16.06 | 22.2x | -46% |
| FY2025 Q2 | May 30 2025 | $415.09 | $15.64 | 26.5x | -36% |
| FY2025 Q1 | Feb 28 2025 | $438.56 | $15.18 | 28.9x | -30% |
| FY2024 Q4 | Nov 29 2024 | $515.93 | $12.41 | 41.6x | +1% |
| FY2024 Q3 | Aug 30 2024 | $574.41 | $11.84 | 48.5x | +18% |
| FY2024 Q2 | May 31 2024 | $444.76 | $11.13 | 40.0x | -3% |
| FY2024 Q1 | Mar 01 2024 | $570.93 | $10.46 | 54.6x | +32% |
| FY2023 Q4 | Dec 01 2023 | $612.47 | $11.81 | 51.9x | +26% |
| FY2023 Q3 | Sep 01 2023 | $563.21 | $11.10 | 50.7x | +23% |
| FY2023 Q2 | Jun 02 2023 | $436.37 | $10.47 | 41.7x | +1% |
| FY2023 Q1 | Mar 03 2023 | $344.04 | $10.14 | 33.9x | -18% |
| FY2022 Q4 | Dec 02 2022 | $341.53 | $10.10 | 33.8x | -18% |
| FY2022 Q3 | Sep 02 2022 | $368.14 | $10.15 | 36.3x | -12% |
| FY2022 Q2 | Jun 03 2022 | $429.76 | $10.25 | 41.9x | +2% |
| FY2022 Q1 | Mar 04 2022 | $452.13 | $10.08 | 44.9x | +9% |
| FY2021 Q4 | Dec 03 2021 | $616.53 | $10.02 | 61.5x | +49% |
| FY2021 Q3 | Sep 03 2021 | $666.59 | $12.09 | 55.1x | +34% |
| FY2021 Q2 | Jun 04 2021 | $504.50 | $11.54 | 43.7x | +6% |
| FY2021 Q1 | Mar 05 2021 | $440.83 | $11.49 | 38.4x | -7% |
| FY2020 Q4 | Nov 27 2020 | $477.03 | $10.84 | 44.0x | +7% |
| FY2020 Q3 | Aug 28 2020 | $516.44 | $7.94 | 65.0x | +58% |
| FY2020 Q2 | May 29 2020 | $386.60 | $7.58 | 51.0x | +24% |
| FY2020 Q1 | Feb 28 2020 | $345.12 | $6.60 | 52.3x | +27% |
| FY2019 Q4 | Nov 29 2019 | $309.53 | $6.00 | 51.6x | +25% |
| FY2019 Q3 | Aug 30 2019 | $284.51 | $5.63 | 50.5x | +23% |
| FY2019 Q2 | May 31 2019 | $270.90 | $5.36 | 50.5x | +23% |
| FY2019 Q1 | Mar 01 2019 | $264.01 | $5.40 | 48.9x | +19% |
| FY2018 Q4 | Nov 30 2018 | $250.89 | $5.21 | 48.2x | +17% |
| FY2018 Q3 | Aug 31 2018 | $263.51 | $4.84 | 54.4x | +32% |
| FY2018 Q2 | Jun 01 2018 | $251.31 | $4.34 | 57.9x | +41% |
| FY2018 Q1 | Mar 02 2018 | $209.79 | $3.76 | 55.8x | +35% |
| FY2017 Q4 | Dec 01 2017 | $179.52 | $3.39 | 53.0x | +29% |
| FY2017 Q3 | Sep 01 2017 | $155.06 | $3.19 | 48.6x | +18% |
| FY2017 Q2 | Jun 02 2017 | $143.48 | $2.89 | 49.6x | +20% |
| FY2017 Q1 | Mar 03 2017 | $120.04 | $2.62 | 45.8x | +11% |
| FY2016 Q4 | Dec 02 2016 | $99.73 | $2.32 | 43.0x | +4% |
| FY2016 Q3 | Sep 02 2016 | $103.57 | $1.96 | 52.8x | +28% |
| FY2016 Q2 | Jun 03 2016 | $98.70 | $1.76 | 56.1x | +36% |
| FY2016 Q1 | Mar 04 2016 | $86.18 | $1.57 | 54.9x | +33% |
| FY2015 Q4 | Nov 27 2015 | $92.17 | $1.24 | 74.3x | +80% |
| FY2015 Q3 | Aug 28 2015 | $79.40 | $0.94 | 84.5x | +105% |
| FY2015 Q2 | May 29 2015 | $79.09 | $0.69 | 114.6x | +178% |
| FY2015 Q1 | Feb 27 2015 | $79.10 | $0.57 | 138.8x | +237% |
| FY2014 Q4 | Nov 28 2014 | $73.68 | $0.49 | 150.4x | +265% |
| FY2014 Q3 | Aug 29 2014 | $71.90 | $0.48 | 149.8x | +264% |
| FY2014 Q2 | May 30 2014 | $64.54 | $0.55 | 117.3x | +185% |
| FY2014 Q1 | Feb 28 2014 | $68.63 | $0.53 | 129.5x | +214% |
| FY2013 Q4 | Nov 29 2013 | $56.78 | $0.57 | 99.6x | +142% |
| FY2013 Q3 | Aug 30 2013 | $45.75 | $0.88 | 52.0x | +26% |
| FY2013 Q2 | May 31 2013 | $42.91 | $1.12 | 38.3x | -7% |
| FY2013 Q1 | Mar 01 2013 | $39.83 | $1.42 | 28.0x | -32% |
| FY2012 Q4 | Nov 30 2012 | $34.61 | $1.66 | 20.8x | -49% |
| FY2012 Q3 | Aug 31 2012 | $31.27 | $1.57 | 19.9x | -52% |
| FY2012 Q2 | Jun 01 2012 | $29.82 | $1.56 | 19.1x | -54% |
| FY2012 Q1 | Mar 02 2012 | $33.73 | $1.56 | 21.6x | -48% |
| FY2011 Q4 | Dec 02 2011 | $27.11 | $1.65 | 16.4x | -60% |
| FY2011 Q3 | Sep 02 2011 | $24.15 | $1.83 | 13.2x | -68% |
| FY2011 Q2 | Jun 03 2011 | $33.27 | $1.88 | 17.7x | -57% |
| FY2011 Q1 | Mar 04 2011 | $35.27 | $1.71 | 20.6x | -50% |
| FY2010 Q4 | Dec 03 2010 | $29.14 | $1.49 | 19.6x | -53% |
| FY2010 Q3 | Sep 03 2010 | $29.49 | $0.90 | 32.8x | -20% |
| FY2010 Q2 | Jun 04 2010 | $31.59 | $0.72 | 43.9x | +7% |
| FY2010 Q1 | Mar 05 2010 | $35.16 | $0.68 | 51.7x | +26% |
| FY2009 Q4 | Nov 27 2009 | $35.38 | $0.74 | 47.8x | +16% |
| FY2009 Q3 | Aug 28 2009 | $31.73 | $1.27 | 25.0x | -39% |
| FY2009 Q2 | May 29 2009 | $28.18 | $1.36 | 20.7x | -50% |
| FY2009 Q1 | Feb 27 2009 | $16.70 | $1.52 | 11.0x | -73% |
| FY2008 Q4 | Nov 28 2008 | $23.16 | $1.60 | 14.5x | -65% |
| FY2008 Q3 | Aug 29 2008 | $42.83 | $1.52 | 28.2x | -32% |
| FY2008 Q2 | - | $40.00 | $1.51 | 26.5x | -36% |
| FY2008 Q1 | Feb 29 2008 | $33.65 | $1.36 | 24.7x | -40% |
| FY2007 Q4 | Nov 30 2007 | $42.14 | $1.22 | 34.5x | -16% |
| FY2007 Q3 | Aug 31 2007 | $42.75 | $1.13 | 37.8x | -8% |
| FY2007 Q2 | Jun 01 2007 | $44.53 | $0.95 | 46.9x | +14% |
| FY2007 Q1 | Mar 02 2007 | $38.66 | $0.90 | 43.0x | +4% |
| FY2006 Q4 | Dec 01 2006 | $39.35 | $0.83 | 47.4x | +15% |
| FY2006 Q3 | Sep 01 2006 | $32.33 | $0.78 | 41.4x | +1% |
| FY2006 Q2 | Jun 02 2006 | $29.00 | $0.91 | 31.9x | -23% |
| FY2006 Q1 | Mar 03 2006 | $39.05 | $1.00 | 39.0x | -5% |
| FY2005 Q4 | Dec 02 2005 | $34.97 | $1.13 | 30.9x | -25% |
| FY2005 Q3 | Sep 02 2005 | $26.64 | $1.10 | 24.2x | -41% |
| FY2005 Q2 | Jun 03 2005 | $32.54 | $1.02 | 31.9x | -23% |
| FY2005 Q1 | Mar 04 2005 | $31.89 | $0.95 | 33.6x | -19% |
| FY2004 Q4 | Dec 03 2004 | $31.48 | $0.90 | 35.0x | -15% |
| FY2004 Q3 | Sep 03 2004 | $23.27 | $0.85 | 27.4x | -34% |
| FY2004 Q2 | Jun 04 2004 | $22.71 | $0.78 | 29.1x | -29% |
| FY2004 Q1 | Mar 05 2004 | $18.23 | $0.70 | 26.0x | -37% |
| FY2003 Q4 | Nov 28 2003 | $20.66 | $0.57 | 36.2x | -12% |
| FY2003 Q3 | Aug 29 2003 | $19.41 | $0.48 | 40.0x | -3% |
| FY2003 Q2 | May 30 2003 | $17.66 | $0.44 | 40.1x | -3% |
| FY2003 Q1 | Feb 28 2003 | $13.75 | $0.41 | 33.5x | -19% |
| FY2002 Q4 | Nov 29 2002 | $14.77 | $0.39 | 37.9x | -8% |
| FY2002 Q3 | Aug 30 2002 | $10.05 | $0.38 | 26.8x | -35% |
| FY2002 Q2 | May 31 2002 | $18.05 | $0.36 | 50.1x | +22% |
| FY2002 Q1 | Mar 01 2002 | $19.27 | $0.38 | 50.7x | +23% |
| FY2001 Q4 | Nov 30 2001 | $16.04 | $0.42 | 38.2x | -7% |
| FY2001 Q3 | Aug 31 2001 | $16.80 | $0.51 | 33.0x | -20% |
| FY2001 Q2 | Jun 01 2001 | $20.29 | $0.59 | 34.4x | -17% |
| FY2001 Q1 | Mar 02 2001 | $13.84 | $0.59 | 23.5x | -43% |
| FY2000 Q4 | Dec 01 2000 | $33.66 | $0.58 | 58.0x | +41% |
| FY2000 Q3 | Sep 01 2000 | $33.83 | $0.61 | 55.5x | +35% |
| FY2000 Q2 | Jun 02 2000 | $31.25 | $0.56 | 55.8x | +35% |
| FY2000 Q1 | Mar 03 2000 | $22.66 | $0.52 | 43.8x | +6% |
| FY1999 Q4 | Dec 03 1999 | $16.67 | $0.46 | 36.0x | -13% |
| FY1999 Q3 | Sep 03 1999 | $13.13 | $0.37 | 35.2x | -14% |
| FY1999 Q2 | Jun 04 1999 | $9.07 | $0.26 | 34.5x | -16% |
| FY1999 Q1 | Mar 05 1999 | $5.77 | $0.23 | 25.5x | -38% |
| FY1998 Q4 | Nov 27 1998 | $5.86 | $0.20 | 29.2x | -29% |
| FY1998 Q3 | Aug 28 1998 | $3.40 | $0.18 | 18.4x | -55% |
| FY1998 Q2 | May 29 1998 | $4.99 | $0.27 | 18.2x | -56% |
| FY1998 Q1 | Feb 27 1998 | $5.52 | $0.29 | 19.0x | -54% |
| FY1997 Q4 | Nov 28 1997 | $5.25 | $0.32 | 16.3x | -61% |
| FY1997 Q3 | Aug 29 1997 | $4.92 | $0.35 | 14.1x | -66% |
| FY1997 Q2 | May 30 1997 | $5.58 | $0.31 | 18.1x | -56% |
| FY1997 Q1 | Feb 28 1997 | $4.56 | $0.28 | 16.4x | -60% |
| FY1996 Q4 | Nov 29 1996 | $4.94 | $0.25 | 19.6x | -52% |
| FY1996 Q3 | Aug 30 1996 | $4.36 | $0.13 | 32.4x | -21% |
| FY1996 Q2 | May 31 1996 | $4.64 | $0.14 | 33.3x | -19% |
| FY1996 Q1 | Mar 01 1996 | $4.08 | $0.16 | 25.2x | -39% |
| FY1995 Q4 | Dec 01 1995 | $8.38 | $0.17 | 49.4x | +20% |
| FY1995 Q3 | Sep 01 1995 | $6.23 | $0.09 | 67.4x | +64% |
| FY1995 Q2 | Jun 02 1995 | $6.50 | $0.07 | 88.2x | +114% |
| FY1995 Q1 | Mar 03 1995 | $4.47 | $0.05 | 89.6x | +117% |
| FY1994 Q4 | Nov 25 1994 | $4.03 | $0.03 | 147.1x | +257% |
| FY1994 Q3 | Aug 31 1994 | $3.97 | $0.15 | 25.9x | -37% |
| FY1994 Q2 | - | $3.59 | $0.15 | 24.4x | -41% |
| FY1994 Q1 | Feb 28 1994 | $3.66 | $0.15 | 24.1x | -42% |
| FY1993 Q4 | - | $2.89 | $0.16 | 18.4x | -55% |
| FY1993 Q3 | - | $2.66 | $0.14 | 19.1x | -54% |
| FY1993 Q2 | May 31 1993 | $4.13 | $0.13 | 32.0x | -22% |
| FY1993 Q1 | Feb 28 1993 | $2.79 | $0.13 | 20.8x | -49% |
| FY1992 Q4 | Nov 30 1992 | $2.13 | $0.13 | 16.5x | -60% |
| FY1992 Q3 | Aug 31 1992 | $2.03 | $0.14 | 14.1x | -66% |
| FY1992 Q2 | May 31 1992 | $2.84 | $0.16 | 17.9x | -57% |
| FY1992 Q1 | Feb 29 1992 | $3.53 | $0.15 | 22.9x | -44% |
| FY1991 Q4 | Nov 30 1991 | $3.00 | $0.15 | 20.1x | -51% |
| FY1991 Q3 | Aug 31 1991 | $3.18 | $0.14 | 22.1x | -46% |
| FY1991 Q2 | May 31 1991 | $3.16 | $0.14 | 22.7x | -45% |
| FY1991 Q1 | - | $3.01 | $0.12 | 24.3x | -41% |
| FY1990 Q4 | Nov 30 1990 | $1.58 | $0.12 | 13.3x | -68% |
| FY1990 Q3 | Aug 31 1990 | $1.56 | $0.12 | 13.6x | -67% |
| FY1990 Q2 | - | $2.23 | $0.12 | 19.4x | -53% |
Average P/E for displayed period: 41.2x
Full Stock Analysis
Deep dive into ADBE consensus models and risk factors.
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
36+ years return with dividends reinvested.
DCA Calculator
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Peer Comparison
Compare growth, multiples, and margins vs sector.
ADBE — Frequently Asked Questions
Quick answers to the most common questions about buying ADBE stock.
What is ADBE's P/E ratio?
Adobe Inc. (ADBE) trailing twelve-month P/E ratio is 11.7x, based on TTM diluted EPS of $17.98. The 5-year average P/E is 38.2x and the historical range spans 14.8x to 61.5x.
Is ADBE stock overvalued or undervalued?
ADBE trades at 11.7x P/E, below its 5-year average of 38.2x. At the 0th percentile of its historical range (14.8x–61.5x), the stock is priced at a discount to its own history.
Is ADBE stock expensive?
No, ADBE is not expensive on a historical basis. The current P/E of 11.7x is below the 5-year average of 38.2x and sits at the 0th percentile of its valuation range.
What is ADBE's historical P/E range?
Over the past 5 years, ADBE's P/E ratio has ranged from 14.8x to 61.5x, with a median of 41.6x and an average of 38.2x. The current P/E of 11.7x places the stock at the 0th percentile of this range. Full historical data spans 1990–2026.
How does ADBE's P/E compare to the S&P 500?
ADBE trades at 11.7x P/E versus the S&P 500 median of 24.4x. The 52% discount to the market suggests lower growth expectations or perceived higher risk.
How does ADBE's valuation compare to Technology peers?
Adobe Inc. P/E of 11.7x compares to the Technology sector median of 29.0x. The discount suggests lower growth expectations, weaker margins, or higher perceived risk relative to peers. See the peer comparison table on this page for ticker-by-ticker P/E and PEG.
What is ADBE's PEG ratio?
ADBE PEG ratio is 1.29, based on a P/E of 11.7x and EPS growth of 35.1%. A PEG between 1 and 2 suggests valuation aligns with growth expectations — typically considered fair.
What is ADBE's earnings yield?
ADBE earnings yield is 8.56%, the inverse of its 11.7x P/E ratio. Earnings yield represents the percentage of each dollar invested that the company earns. It can be compared directly to bond yields to assess relative attractiveness of stocks versus fixed income.