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Adobe Inc.
Rule-based classification of fundamentals against the sector. Not a price forecast and not investment advice.
Signals align: quality at a discount to the sector
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5 of 5 met · composite above the peer average
Business quality, valuation against the sector, and position in the 52-week range — whether they line up or not.
Stable quality
Profitability
4/4
Debt & liquidity
1/3
Efficiency
2/2
Valuation is where ADBE diverges most from its peers: the P/E of 15.8× sits -62% below the sector median 42.0×, and EV/EBITDA of 12.6× trails the median 32.1× by -61% — a discount that is unusual for a business posting an operating margin of 36.6% and an ROE of 55.4%, both well above the sector median. FCF yield of 9.1% runs +386% above the median 1.9%, so the cash generation behind those margins is real. The F-Score of 7/9 reflects solid profitability and efficiency, though the liquidity sub-score is weaker — the current ratio of 1.00 runs -23% below the sector median 1.30. On the forward axis, the picture is mixed: the realized three-year EPS CAGR per SEC filings is strong, yet the beat rate over eight quarters is weak, so consensus expectations — which historically run about 10% optimistic — deserve some caution even as the PEG load reads as reasonable.
| Ticker | Name | F-Score | ROE | Revenue YoY | Op. margin |
|---|---|---|---|---|---|
| AAPL | Apple | 8/9 | 171% | +6% |
Quarter-by-quarter classification · a retrospective read by the current logic · not a price forecast
Rule-based classification of fundamentals against the sector. Not a price forecast and not investment advice. The method did not see these quarters in real time; this is the current logic applied to past reports.
The market prices in earnings growth; analyst sentiment is weakening; has mostly beaten consensus.
Price against next year's expected earnings. The forward P/E already carries analyst optimism — read it alongside the “Versus consensus” line.
A forward P/E below the current one means the market expects earnings to grow; above it, to fall. The historical growth is realized figures from SEC filings, not a forecast.
The three-month change in the share of positive analyst ratings. This is sentiment, not an earnings-estimate revision, and not a call to act.
When Adobe reports on September 10, track revenue growth year over year alongside free cash flow — the current FCF yield of 1.87% sits 4.9× above the sector median, so any compression there warrants attention. Also recheck the current ratio, which already runs 23% below the sector median at 1.30.
Adobe's Leverage and Liquidity sub-score of 1/3 is the weakest part of an otherwise solid F-Score of 7/9. In the 10-K, focus on the risk factors around debt maturities and management's discussion of capital allocation to understand what is driving that pressure.
Pick two or three companies from the same-sector table in section 06 and line up one metric — EV/EBITDA, for instance, where Adobe sits at 32.1×, or P/E at 42.0×, both well below the sector median. The table is alphabetical with no ranking, so the selection and the comparison are yours to make.
Steps you can check yourself, based on the figures in this brief.
Piotroski F-Score: nine binary tests of financial strength from the annual report. A ✓ marks a test passed, a dot (·) a test failed.
Over 4 years: +7%-6%+13%+25%
Over 4 years: 0.520.480.540.65
Over 4 years: +12%+10%+11%+11%
The context on the right shows how each figure compares with the sector median. The trend below tracks the change over recent fiscal years.
Beat consensus in 8 of 8 recent quarters — the company clears estimates regularly (consensus is often set conservatively).
Last quarter's EPS against consensus, plus the estimated date of the next report.
| 32% |
| ACN | Accenture | 4/9 | 26% | +7% | 15% |
| ADBE | Adobe Inc. | 7/9 | 55% | +11% | 37% |
| AMAT | Applied Materials | 6/9 | 36% | +4% | 29% |
| AMD | Advanced Micro Devices | 7/9 | 7% | +34% | 11% |
| AVGO | Broadcom | 7/9 | 43% | +24% | 40% |
| CRM | Salesforce | 7/9 | 12% | +10% | 20% |
| CSCO | Cisco | 8/9 | 22% | +5% | 21% |
| IBM | IBM | 6/9 | 35% | +8% | — |
| INTC | Intel | 6/9 | -0% | -0% | -4% |
| INTU | Intuit | 8/9 | 20% | +16% | 26% |
| MSFT | Microsoft | 6/9 | 34% | +18% | 47% |
| NOW | ServiceNow | 4/9 | 15% | +21% | 14% |
| NVDA | NVIDIA | 3/9 | 101% | +65% | 60% |
| ORCL | Oracle | 5/9 | 54% | +17% | 31% |
| TXN | Texas Instruments | 7/9 | 30% | +13% | 34% |
A sample of 16 companies in the sector including the target, alphabetical, unranked. Data from the latest SEC annual reports.
Rule-based classification of fundamentals against the sector. Not a price forecast and not investment advice.
A simplified retrospective read: no analyst forecast (not available historically); the source is the annual report as of the date, so neighbouring quarters can rest on the same data. Quarters with the same classification in a row are merged into one row — each row is one change in the read, not a separate quarter. One ticker is an illustration of the classification logic, not statistics. How we calculate →
The last few quarters are recent context, not a fixed rate. Consensus for near quarters is set low, so companies clear it routinely; over long horizons the forecasts run the other way, too high.
A description of what the market and analysts expect. Not a price forecast and not investment advice. Analyst forecasts run systematically optimistic over long horizons — read them with that discount.