Mulya.ai
Ticker
ADBE
Scenario
Key Inputs
Revenue est.?Analyst
OP margin est.?Analyst
Reinvestment est.?avg_lt_ttm
R&D capitalizedYes · 5yr amort
Leases factoredNo
Key Assumptions
WACC ?10.9%
ERP ?4.5%
Risk-free rate ?4.1%
Beta (blended) ?1.532
Beta (levered) ?1.610
Terminal OM% ?35.2%
Segment conc. ?74% dominant
Terminal growth ?4.1%
Bond rating ?AAA · 0.60%
ROIC option ?Opt 4 · 23.6%
Prob of failure ?0.0%
Pipeline validated · 2026-05-17

ADBE · Adobe Inc.

$242.922026-05-17
Sector: Technology; Industry: Software - Infrastructure; Sub-Industry: Application Software

Intrinsic Value Range Comparison · Mulya.ai

R&D capitalized (5yr)
Bull
$475
+95.4% vs market
Base · active
$429
+76.5% vs market
Bear
$358
+47.2% vs market
Mulya.ai vs Analyst IV Comparison?
Market $243
Median $330
Bear $358
Base $429
Bull $475
Market Price $243
Mulya.ai Base $429
Analysts Median $330
Mulya.ai IV range ($358 · $475)
Analysts Range ($220 · $450)
Fundamentals · historical + forward · base
italics = DCF projection
PeriodRevenueRev Gr ?Ops M% ?Tax Rate ?NOPAT ?
Reinvest ?
FCFF ?WACC% ?PV FCFF ?ROIC ?Inv. Cap ?EPS ?P/E
2022.Q1$15.8B43.8%17.0%$5.7B−$1.7B$4.0B8.6%28.8%$19.9B$11.73
2023.Q1$17.6B11.5%41.2%21.9%$5.7B−$1.1B$4.5B10.5%28.3%$20.1B$11.57
2024.Q1$19.4B10.2%40.8%22.2%$6.2B−$1.2B$4.9B10.3%29.7%$21.4B$13.21
2025.Q1$21.5B10.8%37.3%17.1%$6.7B−$613MM$6.0B11.7%30.5%$22.2B$13.53
2026.Q1$24.5B13.7%43.6%19.7%$8.6B−$918MM$7.7B11.3%38.7%$22.1B$17.549.4
italics below = DCF projection · 10yr Rev CAGR: 7.4%
2027.Q1$26.7B+9.1%43.7%19.7%$9.4B−$2.1B$7.3B10.7%$6.6B40.5%$24.2B$19.1512.7
2028.Q1$29.0B+8.8%45.8%19.7%$10.7B−$2.3B$8.4B10.5%$6.9B42.2%$26.5B$21.8211.1
2029.Q1$31.6B+8.8%46.7%19.8%$11.8B−$2.6B$9.2B10.3%$6.9B42.6%$29.1B$24.1910.0
2030.Q1$34.4B+8.9%43.9%19.8%$12.1B−$2.9B$9.2B10.1%$6.2B39.7%$32.0B$24.749.8
2031.Q1$37.4B+8.6%43.9%19.8%$13.1B−$3.2B$9.9B9.9%$6.1B39.1%$35.2B$26.869.0
Term. Yr+$51.8B4.1%35.2%20.0%$14.6B−$2.5B$12.1B8.6%$105.6B23.6%
Active scenario IV: $429 (+76.5% vs market)