Adobe Inc.

ADBE

Adobe Inc.

Quarterly revenue, EPS, free cash flow, valuation, and Rule of 40 scores for Adobe Inc..

R40: 45 · 2026 Q2 $117.85B
$292.79
About

Adobe Inc. operates as a diversified software company worldwide. It provides creative, document, and digital-experience products through Creative Cloud, Document Cloud, and Experience Cloud. Creative Cloud includes Photoshop, Illustrator, Premiere Pro, After Effects, Lightroom, and Firefly generative-AI tools. Document Cloud includes Acrobat and PDF services. Experience Cloud offers analytics, content management, commerce, and customer-journey applications for enterprises. Adobe sells subscriptions to individuals, small businesses, and large enterprises, and also licenses technology.

History ↓ Leadership ↓

News

Coverage

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Open ADBE Rule of 40 details
Median 50.2 Above 40 0–40 Below 0
47
Q3
62
2024 Q4
53
Q1
47
Q2
46
Q3
61
2025 Q4
58
Q1
45
2026 Q2 40 0 Mix
ANALYST RATINGS
Hold $272
Consensus as of Aug 31, 2026
ADBE
Jefferies Hold $285
Maintained
2026-08-30
Bank of America Securities Sell $220
Reiterated
2026-08-19
Morgan Stanley Sell $240
Downgraded
2026-07-21
CLSA Buy $300
Initiated
2026-07-20
HSBC Buy $308
Upgraded
2026-07-02

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Forward model

Where the revenue goes next

ADBE FORWARD MODEL $310.37 +6%
Earnings coverage

Latest earnings

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Background

Company History

Exchange
NASDAQ
IPO Date
Aug 20, 1986
Shares Outstanding
402.5M
1982
Founded

John Warnock and Charles Geschke leave Xerox PARC and found Adobe Systems in Mountain View to commercialise PostScript, the page-description language that made desktop publishing possible.

1986
IPO on NASDAQ

Adobe goes public on 20 August 1986 at $11 per share, raising about $16 million.

1993
PDF and Acrobat

Adobe publishes the Portable Document Format and ships Acrobat, turning a file format into a decades-long annuity business.

2005
Macromedia acquisition

Adobe buys Macromedia for about $3.4 billion, absorbing Flash, Dreamweaver and Director.

2012
Creative Cloud

Adobe launches Creative Cloud and begins the shift from perpetual Creative Suite licences to subscriptions, completing the move in 2013.

2018
Marketo

Adobe pays $4.75 billion for Marketo, building out the Experience Cloud enterprise marketing stack alongside the 2009 Omniture deal.

2023
Figma deal abandoned

Adobe and Figma terminate the $20 billion acquisition agreed in September 2022 after UK and EU regulators signalled they would block it; Adobe pays a $1 billion break fee.

2026
CEO transition and Semrush

Narayen announces in March he will hand over the CEO role once a successor is named; Adobe closes the $1.9 billion Semrush acquisition in April and reports record Q2 revenue of $6.62 billion in June, the same day CFO Dan Durn resigns.

Leadership

Key Players

Shantanu Narayen
Chair & Chief Executive Officer
Shantanu Narayen
CEO since 2007 and chair since 2017. Moved Adobe from boxed Creative Suite to the Creative Cloud subscription, bought Macromedia, Omniture and Marketo, and took the company from roughly $3 billion to more than $23 billion of annual revenue. On 12 March 2026 he told the board he intends to hand over the CEO role once a successor is appointed, staying on as chair; the search covers internal and external candidates and no successor had been named by the end of August 2026.

The CEO view — 4 podcasts, interviews & articles →

Steve Day
Interim Chief Financial Officer
Named interim CFO on 15 June 2026 when Dan Durn resigned to take another job. A 20-year Adobe finance veteran, he was most recently SVP of Corporate Finance and CFO of the Customer Experience Orchestration business unit, and ran investor relations on an interim basis from October 2024 to June 2025.
David Wadhwani
President, Creativity & Productivity Business
Runs Photoshop, Acrobat, Express, Firefly, Illustrator, Lightroom and Premiere, the segment Adobe now calls Creativity & Productivity. Led the Digital Media business from December 2021 until the January 2026 reorganisation and is a recurring name in outside speculation about the CEO succession.
Anil Chakravarthy
President, Customer Experience Orchestration Business
Leads the enterprise marketing and analytics stack — Experience Platform, Analytics, Real-Time CDP, Marketo — renamed Customer Experience Orchestration in January 2026 from Digital Experience. Former CEO of Informatica.
Frank Calderoni
Lead Independent Director Board
Chairs the special committee running the search for Narayen's successor. Former CEO of Anaplan and former CFO of Red Hat and Cisco.
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