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Adobe Inc (ADBE)

Software
Tecnología
growth

Adobe Inc. operates as a technology company worldwide. Its Digital Media segment offers products and services that enable individuals, teams, and enterprises to create, publish, and promote content; Document Cloud, a cloud-based document services platform; and Creative Cloud, a subscription service that allows subscribers to use its creative products and applications (apps) integrated with cloud-delivered services across various surfaces and platforms. This segment serves photographers, video editors, graphic and experience designers, game developers, content creators, students, marketers, knowledge workers, and consumers. The company’s Digital Experience segment provides an integrated platform; and products, services, and solutions that enable brands and businesses to create, manage, execute, measure, monetize, and optimize customer experiences from analytics to commerce. This segment serves marketers, advertisers, agencies, publishers, merchandisers, merchants, web analysts, data scientists, developers, and executives across the C-suite. Its Publishing and Advertising segment offers e-learning, technical document publishing, web conferencing, document and forms platform, web application development, high-end printing, and Adobe Advertising solutions. It provides consulting, training, customer management, technical support, and learning services. The company offers its solutions to enterprise customers, and businesses and consumers; and licenses its products to end-user customers through app stores and website at adobe.com. It markets and distributes its products through distributors, retailers, software developers, mobile app stores, systems integrators, independent software vendors, value-added resellers, and original equipment and hardware manufacturers. The company was formerly known as Adobe Systems Incorporated and changed its name to Adobe Inc. in October 2018. Adobe Inc. was founded in 1982 and is headquartered in San Jose, California.

Precio Actual

$262.41
+1.30% vs día anterior

Capitalización

108B

Desviación

-22.59%

Y/Y Growth

8.5%

EBIT Margin

44.4%

ROIC

31%

PEG Ratio

0.86

ROE

41.1%

3Y EPS Growth

17.5%

Net Debt / EBITDA

-0.2x
Esta empresa tiene una posición de caja neta (más efectivo que deuda).

Proyecciones CAGR

Proyecciones de tasa de crecimiento anual compuesta basadas en diferentes modelos de valoración. CAGR EV/FCF es la métrica principal.

CAGR EV/FCF
14.7%
CAGR EV/FCF (2026):
29.2%
CAGR Prom.:
15.0%
CAGR P/E:
13.6%
CAGR EV/EBITDA: 15.0%
CAGR EV/EBIT: 16.9%
Precio de compra para +15%:
$250.02

Múltiplos de Valoración

Múltiplos de valoración utilizados para las estimaciones de CAGR y precios objetivo.

P/E
15x
(Fair: 43x)
EV/FCF
15x
EV/EBITDA
12x
EV/EBIT
13x

Gráfico de Evolución del Precio

Precios Objetivo FCF

Precios futuros estimados de la acción basados en proyecciones de flujo de caja libre.

Calculadora de Sensibilidad

Compara el CAGR de tu valoración con el que resultaría al aplicar diferentes múltiplos (LTM y Fair P/E).

Mercado LTM P/E
16x
Fair P/E
43x
CAGR EV/FCF
Tu Múltiplo: 15x
14.7%
16.2%
41.6%
CAGR P/E
Tu Múltiplo: 15x
13.6%
15.1%
40.2%
Tu CAGR
CAGR con LTM
CAGR con Fair P/E

Reverse DCF

Crec. Implícito del Mercado2.1%
Tu CAGR EV/FCF14.7%
2.1%14.7%
Margen de Seguridad: +12.5pp

Rentabilidad mínima que exiges a tu inversión. Refleja el coste de oportunidad y el riesgo.

Múltiplo EV/FCF al que se valorará la empresa al final del periodo de proyección.

Notas

Rendimiento Histórico vs. Índices

Rendimiento anual (YTD) de la acción comparado con índices y materias primas de referencia.

Media vs. Bitcoin
-274.30%
Media vs. Gold
+6.42%
Media vs. Bono USA 7-10y
+19.08%
Media vs. Bono USA 1-3y
+18.36%
Media vs. Bono USA 20+y
+20.07%
Media vs. Dow Jones
+7.22%
Media vs. S&P 500
+5.00%
Media vs. NASDAQ 100
-0.62%
Media vs. MSCI World
+7.18%
Media vs. Russell 2000
+10.35%
Media vs. STOXX Europe 600
+12.98%
Rendimiento anual de cada inversión. La línea discontinua marca el 0% (punto de equilibrio).
Año
Rendimiento ADBE
Rendimiento Bitcoin
Rendimiento vs. Bitcoin
Rendimiento Gold
Rendimiento vs. Gold
Rendimiento Bono USA 7-10y
Rendimiento vs. Bono USA 7-10y
Rendimiento Bono USA 1-3y
Rendimiento vs. Bono USA 1-3y
Rendimiento Bono USA 20+y
Rendimiento vs. Bono USA 20+y
Rendimiento Dow Jones
Rendimiento vs. Dow Jones
Rendimiento S&P 500
Rendimiento vs. S&P 500
Rendimiento NASDAQ 100
Rendimiento vs. NASDAQ 100
Rendimiento MSCI World
Rendimiento vs. MSCI World
Rendimiento Russell 2000
Rendimiento vs. Russell 2000
Rendimiento STOXX Europe 600
Rendimiento vs. STOXX Europe 600
2026
YTD en Vivo
-21.27%-23.32%+2.05%21.46%-42.73%1.99%-23.26%0.39%-21.66%4.35%-25.62%1.23%-22.50%0.30%-21.57%-2.44%-18.83%2.32%-23.59%4.95%-26.22%6.33%-27.59%
2025
-20.64%110.77%-131.41%26.96%-47.59%-3.73%-16.91%0.05%-20.69%-11.17%-9.47%12.80%-33.44%24.01%-44.65%30.78%-51.42%17.88%-38.52%10.80%-31.44%5.50%-26.14%
2024
-23.34%153.66%-177.00%11.76%-35.10%-0.15%-23.20%0.98%-24.33%-2.54%-20.80%13.74%-37.08%24.73%-48.07%44.52%-67.86%21.92%-45.27%15.78%-39.12%11.67%-35.01%
2023
77.07%-65.23%+142.30%0.78%+76.30%-15.93%+93.01%-5.00%+82.07%-31.00%+108.08%-9.40%+86.47%-19.95%+97.03%-33.89%+110.97%-19.70%+96.77%-22.50%+99.57%-13.29%+90.36%
2022
-40.37%60.33%-100.70%-6.24%-34.13%-4.15%-36.22%-0.98%-39.39%-5.94%-34.44%20.23%-60.60%28.79%-69.16%23.20%-63.57%21.22%-61.59%15.39%-55.76%21.66%-62.03%
2021
16.84%301.93%-285.09%23.90%-7.07%8.33%+8.51%2.02%+14.82%15.12%+1.71%6.02%+10.82%15.29%+1.54%41.75%-24.91%12.94%+3.90%18.48%-1.65%-4.64%+21.48%
2020
49.54%88.85%-39.31%17.78%+31.77%5.55%+43.99%1.20%+48.35%10.91%+38.63%21.91%+27.63%28.34%+21.21%34.60%+14.94%25.23%+24.32%23.05%+26.49%23.42%+26.13%
2019
46.86%-71.79%+118.65%-3.12%+49.98%-0.97%+47.83%-0.24%+47.10%-3.17%+50.03%-6.03%+52.89%-7.01%+53.87%-5.30%+52.17%-11.16%+58.03%-13.00%+59.86%-13.42%+60.28%
2018
27.32%1,184.56%-1,157.25%11.93%+15.38%0.76%+26.55%-0.63%+27.94%6.03%+21.28%24.33%+2.98%18.42%+8.90%27.16%+0.16%19.45%+7.86%12.45%+14.86%7.16%+20.16%
2017
69.35%1,184.56%-1,115.21%11.93%+57.42%-1.15%+70.50%-0.02%+69.37%-1.91%+71.26%24.33%+45.02%18.42%+50.93%27.16%+42.19%19.45%+49.89%12.45%+56.90%7.16%+62.19%
Media18.14%292.43%-274.30%11.71%+6.42%-0.94%+19.08%-0.22%+18.36%-1.93%+20.07%10.92%+7.22%13.13%+5.00%18.75%-0.62%10.96%+7.18%7.79%+10.35%5.16%+12.98%

Historial de Valoración

Historial de cambios significativos en los factores de valoración y precios objetivo a lo largo del tiempo. Los valores resaltados indican un cambio respecto a la valoración anterior.

Fecha de Valoración
Y/Y Growth
EBIT Margin
Net Debt/EBITDA
P/E
EV/FCF
EV/EBITDA
EV/EBIT
Objetivo 2026
Objetivo 2027
Objetivo 2028
Objetivo 2029
Objetivo 2030
1/18/20268.5%44.4%-0.2x15x(43x)15x12x13x$338.98$381.90$409.80$453.96$502.88
1/13/20268.4%44.4%-0.2x20x(43x)20x15x16x$449.46$506.64$542.86$600.80$664.92
12/14/20259.1%45.5%-0.2x20x(45x)20x15x16x$429.79$479.70$536.46$597.29$665.01
12/5/20259.3%46.3%-0.2x15x(47x)15x11x12x$333.90$371.58$413.35$460.22$512.40
11/30/20259.3%46.3%-0.2x20x(47x)20x15x17x$442.85$493.70$550.78$613.79$684.01
9/24/20259.3%46.3%-0.3x20x(27x)20x15x17x$442.53$492.01$549.38$612.22$682.26

Análisis de Outperformance

Rendimiento histórico vs índices principales y métricas de consistencia

Outperformance Promedio vs Índices

Rendimiento promedio comparado con los principales índices del mercado

Outperformance
Underperformance

Evolución del Rendimiento Año a Año

Rendimiento histórico con marcadores de mejores y peores años

🏆Best Year
2023
+77.07%
📉Worst Year
2022
-40.37%

Consistencia de Rendimiento

Porcentaje de años con rendimientos positivos

60%
6 of 10 years positive
Consistency ScoreGood
0%50%70%100%

ADBE shows moderate consistency with positive returns in 60% of years.