Adobe (MEX:ADBE) Cyclically Adjusted PS Ratio: 6.19 (As of Jul. 18, 2026) — 70% Below Median

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
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Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

MEX:ADBE Adobe Inc MEX:ADBE
89 GF Score
Price MXN4,160.01
GF Value MXN10,242.30
Valuation Significantly Undervalued
View Full Analysis

What is Adobe Cyclically Adjusted PS Ratio?

Adobe MEX:ADBE +1.71% 89 Cyclically Adjusted PS Ratio is 6.19 as of Jul. 18, 2026, which is 70% below its 10-year median of 20.80. GuruFocus rates MEX:ADBE with a GF Score™ of 89/100 and a GF Value™ of MXN10,242.30 (Significantly Undervalued). Among 1,590 Software companies, Adobe ranks worse than 82.2% on this metric.

As of today (2026-07-18), Adobe's current share price is MXN4160.01. Adobe's Cyclically Adjusted Revenue per Share for the quarter that ended in May. 2026 was MXN671.71. Adobe's Cyclically Adjusted PS Ratio for today is 6.19.

The historical rank and industry rank for Adobe's Cyclically Adjusted PS Ratio or its related term are showing as below:

MEX:ADBE' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 5.03   Med: 20.8   Max: 40.93
Current: 6.11

During the past years, Adobe's highest Cyclically Adjusted PS Ratio was 40.93. The lowest was 5.03. And the median was 20.80.

MEX:ADBE's Cyclically Adjusted PS Ratio is ranked worse than
82.2% of 1590 companies
in the Software industry
Industry Median: 1.665 vs MEX:ADBE: 6.11

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.

Adobe's adjusted revenue per share data for the three months ended in May. 2026 was MXN285.624. Add all the adjusted revenue per share for the past 10 years together and divide 10 will get our Cyclically Adjusted Revenue per Share, which is MXN671.71 for the trailing ten years ended in May. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Adobe  (MEX:ADBE) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.


Adobe Cyclically Adjusted PS Ratio Related Terms


Adobe Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Adobe's Cyclically Adjusted PS Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Adobe Cyclically Adjusted PS Ratio Chart

Adobe Annual Data
Trend Nov16 Nov17 Nov18 Nov19 Nov20 Nov21 Nov22 Nov23 Nov24 Nov25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 37.71 15.90 23.87 17.19 9.11

Adobe Quarterly Data
Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24 Nov24 Feb25 May25 Aug25 Nov25 Feb26 May26
Cyclically Adjusted PS Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 12.71 10.49 9.11 7.17 6.68

MEX:ADBE vs DDOG, SNOW, INTU: Cyclically Adjusted PS Ratio Comparison

For the Software - Application subindustry, Adobe's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Adobe Cyclically Adjusted PS Ratio vs Software Industry

For the Software industry and Technology sector, Adobe's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Adobe's Cyclically Adjusted PS Ratio falls into.


MEX:ADBE
89GF Score
Adobe Inc MEX:ADBE
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Adobe Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.

Adobe's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=4160.01/671.71
=6.19

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Adobe's Cyclically Adjusted Revenue per Share for the quarter that ended in May. 2026 is calculated as:

For example, Adobe's adjusted Revenue per Share data for the three months ended in May. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of May. 2026 (Change)*Current CPI (May. 2026)
=285.624/335.1230*335.1230
=285.624

Current CPI (May. 2026) = 335.1230.

Adobe Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201608 54.787 240.849 76.232
201611 65.570 241.353 91.045
201702 67.142 243.603 92.367
201705 66.074 244.733 90.478
201708 65.444 245.519 89.328
201711 74.584 246.669 101.329
201802 78.426 248.991 105.555
201805 88.125 251.588 117.385
201808 88.594 252.146 117.749
201811 100.809 252.038 134.041
201902 101.434 252.776 134.478
201905 109.559 256.092 143.369
201908 115.827 256.558 151.296
201911 119.210 257.208 155.322
202002 124.970 258.678 161.901
202005 142.985 256.394 186.890
202008 145.491 259.918 187.588
202011 143.140 260.229 184.336
202102 169.257 263.014 215.661
202105 158.901 269.195 197.817
202108 164.223 273.567 201.175
202111 183.309 277.948 221.016
202202 183.069 283.716 216.240
202205 182.487 292.296 209.225
202208 189.853 296.171 214.822
202211 188.454 297.711 212.136
202302 185.643 300.840 206.798
202305 186.227 304.127 205.207
202308 179.843 307.026 196.301
202311 191.096 307.051 208.567
202402 193.848 310.326 209.338
202405 200.047 314.069 213.457
202408 238.115 314.796 253.491
202411 257.330 315.493 273.341
202502 267.767 319.082 281.228
202505 265.998 321.465 277.299
202508 266.360 323.976 275.525
202511 271.472 324.122 280.686
202602 268.073 326.785 274.913
202605 285.624 335.123 285.624

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

What does a Cyclically Adjusted PS Ratio of 6.19 mean?
Adobe (MEX:ADBE) has a Cyclically Adjusted PS Ratio of 6.19 as of Jul. 18, 2026. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on Adobe and its competitors. This is 70% below median its historical median of 20.80. Over the past decade, Adobe's Cyclically Adjusted PS Ratio has ranged from 5.03 to 40.93. According to the industry distribution chart, Adobe ranks #1307 out of 1590 companies in the Software industry, placing it in the top 82.2%.
Is Adobe's Cyclically Adjusted PS Ratio too high?
Adobe's current Cyclically Adjusted PS Ratio of 6.19 is 70% below median its 10-year median of 20.80. Over the past 10 years, this metric has ranged from a low of 5.03 to a high of 40.93. The Software industry median Cyclically Adjusted PS Ratio is 1.67. Adobe's value of 6.19 is 271.8% above this industry median. Based on the distribution chart, Adobe ranks #1307 out of 1590 companies in the Software industry, which is in the bottom quartile relative to peers. Overall, Adobe has a GF Score™ of 89/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Adobe's Cyclically Adjusted PS Ratio compare to DDOG and SNOW?
According to the Software industry distribution chart, Adobe ranks #1307 out of 1590 companies for Cyclically Adjusted PS Ratio. This places Adobe in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 1.67. Adobe's value of 6.19 is 271.8% above this benchmark. Historically, Adobe's own Cyclically Adjusted PS Ratio has ranged from 5.03 to 40.93 over the past decade. While the company's 10-year median is 20.80 vs. the industry median of 1.67, Adobe has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PS Ratio for a Software company?
The median Cyclically Adjusted PS Ratio among Software companies is 1.67, based on 1,590 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PS Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PS Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Adobe's current Cyclically Adjusted PS Ratio of 6.19 is 271.8% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PS Ratio mean?
A high Cyclically Adjusted PS Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on Adobe and its competitors. For the Software industry, the median Cyclically Adjusted PS Ratio is 1.67 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Adobe's current Cyclically Adjusted PS Ratio is 6.19, which is 70% below median its own 10-year median of 20.80. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Adobe stock overvalued right now?
Based on GuruFocus' analysis, Adobe (MEX:ADBE) is currently considered Significantly Undervalued. The stock's GF Value™ is MXN10,242.30, compared to a current price of MXN4,160.01 — trading 59.4% below its estimated fair value. The current Cyclically Adjusted PS Ratio is 6.19, which is 70% below median its 10-year median of 20.80 and 271.8% above the Software industry median of 1.67. Adobe's overall GF Score™ is 89/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PS Ratio calculated?
Cyclically Adjusted PS Ratio is calculated from a company's financial statements. For Adobe (MEX:ADBE), the current Cyclically Adjusted PS Ratio is 6.19 as of Jul. 18, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Adobe (MEX:ADBE) Overvalued in 2026?

Based on GuruFocus' analysis, Adobe stock appears to be undervalued. The current stock price of MXN4,160.01 is trading 59.4% below its estimated GF Value™ of MXN10,242.30. GuruFocus considers Adobe to be Significantly Undervalued.

Key valuation signals for MEX:ADBE:

  • Cyclically Adjusted PS Ratio: 6.19 (70% below median its 10-year median of 20.80)
  • GF Value™: MXN10,242.30 vs. price of MXN4,160.01 (59.4% below fair value)
  • GF Score™: 89/100
  • Industry Position: 271.8% above the Software median (#1307 of 1590)

No single metric tells the full story. See the MEX:ADBE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Adobe Business Description

Address 345 Park Avenue, San Jose, CA, USA, 95110-2704
Adobe provides content creation, document management, and digital marketing and advertising software and services to creative professionals and marketers for creating, managing, delivering, measuring, optimizing, and engaging with compelling content multiple operating systems, devices, and media. The company operates with three segments: digital media content creation, digital experience for marketing solutions, and publishing for legacy products (less than 5% of revenue).
89GF Score

Get the complete analysis for MEX:ADBE

Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

MXN4,160.01
Price
MXN10,242.30
GF Value