Mulya.ai
Ticker
ADBE
Scenario
Key Inputs
Revenue est.?Analyst
OP margin est.?Analyst
Reinvestment est.?projected
R&D capitalizedYes · 5yr amort
Leases factoredNo
Key Assumptions
WACC ?10.3%
ERP ?4.5%
Risk-free rate ?4.1%
Beta (blended) ?1.404
Beta (levered) ?1.497
Terminal OM% ?33.4%
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 · 2026-07-21

ADBE · Adobe Inc.

$202.732026-07-21
Sector: Technology; Industry: Software - Application; Sub-Industry: Application Software

Intrinsic Value Range Comparison · Mulya.ai

R&D capitalized (5yr)
Bull
$505
+149.1% vs market
Base · active
$464
+128.7% vs market
Bear
$303
+49.6% vs market
Mulya.ai vs Analyst IV Comparison?
Market $203
Median $245
Bear $303
Base $464
Bull $505
Market Price $203
Mulya.ai Base $464
Analysts Median $245
Mulya.ai IV range ($303 · $505)
Analysts Range ($190 · $379)
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
2024.Q2$19.4B38.6%21.2%$5.9B−$1.3B$4.7B9.8%26.3%$22.5B$13.50
2025.Q1$21.5B10.8%35.4%17.1%$6.3B−$115MM$6.2B11.7%27.6%$23.2B$13.83
2025.Q2$21.5B0.0%35.4%17.4%$6.3B$11MM$6.3B10.5%27.0%$23.3B$13.83
2026.Q1$23.8B10.5%41.3%19.7%$7.9B−$342MM$7.5B11.3%33.9%$23.2B$17.74
2026.Q2$25.2B6.0%40.7%20.7%$8.1B−$1.5B$6.6B10.2%33.7%$25.0B$17.987.9
italics below = DCF projection · 10yr Rev CAGR: 7.5%
2027.Q2$27.8B+10.3%41.5%20.6%$9.2B−$828MM$8.3B10.2%$7.6B36.0%$25.8B$20.1810.0
2028.Q2$30.3B+9.0%44.5%20.5%$10.7B−$857MM$9.9B10.0%$8.1B40.8%$26.7B$23.628.6
2029.Q2$33.1B+9.1%43.6%20.5%$11.5B−$1.0B$10.4B9.9%$7.8B42.1%$27.7B$25.288.0
2030.Q2$36.0B+8.9%41.5%20.4%$11.9B−$1.2B$10.7B9.7%$7.3B42.0%$28.9B$26.257.7
2031.Q2$39.1B+8.6%41.5%20.3%$12.9B−$1.4B$11.5B9.6%$7.2B43.6%$30.4B$28.537.1
Term. Yr+$54.2B4.1%33.4%20.0%$14.5B−$2.5B$11.9B8.6%$107.5B23.6%
Active scenario IV: $464 (+128.7% vs market)