Adobe Inc. (ADBE) P/E Ratio History
Historical price-to-earnings valuation from 1990 to 2025
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Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of February 28, 2026, Adobe Inc. (ADBE) trades at a price-to-earnings ratio of 21.2x, with a stock price of $262.41 and trailing twelve-month earnings per share of $17.10.
The current P/E is 48% below its 5-year average of 40.8x. Over the past five years, ADBE's P/E has ranged from a low of 19.2x to a high of 61.5x, placing the current valuation at the 5th percentile of its historical range.
Compared to the Technology sector median P/E of 25.2x, ADBE trades at a 16% discount to its sector peers. The sector includes 345 companies with P/E ratios ranging from 0.0x to 199.1x.
The PEG ratio of 1.37 (P/E divided by 4% 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 roughly in line with the S&P 500 median P/E of 26.2x. 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.
Peer Comparison
P/E metrics vs. Content collaboration and file sharing peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
ADBEAdobe Inc. | $116B | 21.2 | 1.37Best | +4% |
BOXBox, Inc. | $3B | 17.3 | - | +103% |
DBXDropbox, Inc. | $2B | 17.9 | - | +7% |
CCSIConsensus Cloud Solutions, Inc. | $633M | 6.9Lowest | - | -6% |
SNCRSynchronoss Technologies, Inc. | $104M | 20.9 | - | +106%Best |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
Historical P/E Data
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2025 Q4 | Fri Nov 28 2025 00:00:00 GM | $320.13 | $16.71 | 19.2x | -54% |
| FY2025 Q3 | Fri Aug 29 2025 00:00:00 GM | $356.70 | $16.06 | 22.2x | -47% |
| FY2025 Q2 | Fri May 30 2025 00:00:00 GM | $415.09 | $15.64 | 26.5x | -36% |
| FY2025 Q1 | Fri Feb 28 2025 00:00:00 GM | $438.56 | $15.18 | 28.9x | -31% |
| FY2024 Q4 | Fri Nov 29 2024 00:00:00 GM | $515.93 | $12.41 | 41.6x | +0% |
| FY2024 Q3 | Fri Aug 30 2024 00:00:00 GM | $574.41 | $11.84 | 48.5x | +17% |
| FY2024 Q2 | Fri May 31 2024 00:00:00 GM | $444.76 | $11.13 | 40.0x | -4% |
| FY2024 Q1 | Fri Mar 01 2024 00:00:00 GM | $570.93 | $10.46 | 54.6x | +31% |
| FY2023 Q4 | Fri Dec 01 2023 00:00:00 GM | $612.47 | $11.81 | 51.9x | +25% |
| FY2023 Q3 | Fri Sep 01 2023 00:00:00 GM | $563.21 | $11.10 | 50.7x | +22% |
| FY2023 Q2 | Fri Jun 02 2023 00:00:00 GM | $436.37 | $10.47 | 41.7x | +0% |
| FY2023 Q1 | Fri Mar 03 2023 00:00:00 GM | $344.04 | $10.14 | 33.9x | -18% |
Average P/E for displayed period: 41.6x
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Start ComparisonFrequently Asked Questions
Is ADBE stock overvalued or undervalued?
ADBE trades at 21.2x P/E, below its 5-year average of 40.8x. At the 5th percentile of historical range, the stock is priced at a discount to its own history.
How does ADBE's valuation compare to peers?
Adobe Inc. P/E of 21.2x compares to sector median of 25.2x. The discount suggests lower growth expectations or higher risk.
What is ADBE's PEG ratio?
ADBE PEG ratio is 1.37. Between 1-2 suggests valuation aligns with growth. Historical P/E data spans 1990-2025.