ADBE
Adobe Inc.
ADBE has the edge over CAT overall, supported by stronger valuation.
CAT
Caterpillar Inc.
CAT has slightly lower modeled downside risk, despite its lower overall score.
ADBE Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
ADBE's revenue, profitability, cash flow and balance sheet are all currently healthy.
CAT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
CAT's revenue, profitability, cash flow and balance sheet are all currently healthy.
ADBE PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 8.9x | $239 | — |
| Current | 13x | $239 | — |
| Cheap | 22x | $396 | +66% |
| Fair | 43x | $771 | +223% |
| Expensive | 54x | $972 | +308% |
Historical ranges are pointers, not guarantees.
ADBE has the edge over CAT in the historical PE scenario, which offers more potential upside but is not a forecast.
CAT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 15x | $380 | -37% |
| Fair | 18x | $461 | -24% |
| Forward | 20x | $605 | — |
| Current | 24x | $605 | — |
| Expensive | 33x | $840 | +39% |
Historical ranges are pointers, not guarantees.
CAT's PE is in its expensive range at 24x. If earnings grow as analysts expect, today's price would be 20x next year's earnings, in its fair range.
ADBE Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Improving | |
| Moderate | |
| Moderate |
Analysts expect earnings and revenue growth for ADBE, with profitability improving.
CAT Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Improving | |
| Moderate | |
| Low |
Analysts expect earnings and revenue growth for CAT, with profitability improving. However, they disagree widely on these estimates.
ADBE Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $26.84 | +50% |
| Q3 2026 | $17.91 | +12% |
| Q2 2026 | $17.47 | +12% |
| Q1 2026 | $17.16 | +13% |
| Q4 2025 | $16.70 | +35% |
| Q3 2025 | $16.01 | +35% |
| Q2 2025 | $15.59 | +40% |
| Q1 2025 | $15.14 | +45% |
| Q4 2024 | $12.36 | +4.6% |
ADBE has the edge over CAT on earnings, with more consistent year-over-year improvement.
CAT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $29.73 | +17% |
| Q3 2026 | $25.48 | +31% |
| Q2 2026 | $23.23 | +18% |
| Q1 2026 | $20.08 | -2% |
| Q4 2025 | $18.81 | -15% |
| Q3 2025 | $19.46 | -9.7% |
| Q2 2025 | $19.64 | -10% |
| Q1 2025 | $20.50 | -7.4% |
| Q4 2024 | $22.05 | +9.6% |
CAT earned $25.48 per share over the past year, up 31% from the year before.
ADBE Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $6.8B | +13% |
| Q2 2026 | $6.6B | +13% |
| Q1 2026 | $6.4B | +12% |
| Q4 2025 | $6.2B | +10% |
| Q3 2025 | $6B | +11% |
| Q2 2025 | $5.9B | +11% |
| Q1 2025 | $5.7B | +10% |
| Q4 2024 | $5.6B | +11% |
ADBE's revenue has grown year over year every quarter since late 2020: $6.8B last quarter, up 13% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 35% | -1.5 points |
| Q2 2026 | 34% | -2.1 points |
| Q1 2026 | 38% | -0.1 points |
| Q4 2025 | 37% | +1.6 points |
| Q3 2025 | 36% | -0.5 points |
| Q2 2025 | 36% | +0.4 points |
| Q1 2025 | 38% | +20 points |
| Q4 2024 | 35% | +0.4 points |
ADBE has the edge over CAT on profitability, with a higher operating margin.
CAT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $20.7B | +17% |
| Q2 2026 | $20.5B | +24% |
| Q1 2026 | $17.4B | +22% |
| Q4 2025 | $19.1B | +18% |
| Q3 2025 | $17.6B | +9.5% |
| Q2 2025 | $16.6B | -0.7% |
| Q1 2025 | $14.2B | -9.8% |
| Q4 2024 | $16.2B | -5% |
CAT's revenue has grown year over year for five quarters in a row: $20.7B last quarter, up 17% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 20% | +3.1 points |
| Q2 2026 | 21% | +3.6 points |
| Q1 2026 | 18% | -0.4 points |
| Q4 2025 | 14% | -4.1 points |
| Q3 2025 | 17% | -2.2 points |
| Q2 2025 | 17% | -3.6 points |
| Q1 2025 | 18% | -4.2 points |
| Q4 2024 | 18% | -0.3 points |
CAT's operating margin was 20% last quarter, up 3.1 points from the same quarter a year ago.
ADBE Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $2.4B | +15% |
| Q2 2026 | $2.1B | -1.7% |
| Q1 2026 | $2.9B | +19% |
| Q4 2025 | $3.1B | +8.8% |
| Q3 2025 | $2.1B | +8.2% |
| Q2 2025 | $2.1B | +13% |
| Q1 2025 | $2.5B | +116% |
| Q4 2024 | $2.9B | +85% |
ADBE has the edge over CAT on cash flow, with more consistent year-over-year improvement.
CAT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $3.7B | +19% |
| Q2 2026 | $3.8B | +47% |
| Q1 2026 | $1.1B | +97% |
| Q4 2025 | $2.7B | +0.1% |
| Q3 2025 | $3.1B | -1.5% |
| Q2 2025 | $2.6B | -4.2% |
| Q1 2025 | $579M | -63% |
| Q4 2024 | $2.7B | -22% |
CAT generated $11.3B in free cash flow over the past year, up 26% from the year before.
ADBE Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.7% | -7M shares |
| 1 year | -6.7% | -28.6M shares |
| 3 years | -14% | -64M shares |
| 5 years | -18% | -85.2M shares |
| Available history | -20% | -96.1M shares |
ADBE has the edge over CAT on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $2.2B |
| Q2 2026 | $2.1B |
| Q1 2026 | $2.5B |
| Q4 2025 | $2.5B |
| Q3 2025 | $2.1B |
| Q2 2025 | $3.5B |
| Q1 2025 | $3.3B |
| Q4 2024 | $2.5B |
ADBE spent $9.3B buying back its own shares over the past year, down 18% from the year before.
CAT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.3% | -1.6M shares |
| 1 year | -2.1% | -9.9M shares |
| 3 years | -10% | -51.7M shares |
| 5 years | -16% | -86.7M shares |
| Available history | -19% | -107M shares |
CAT has 461M diluted shares, down 2.1% from a year ago, with $8.1B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $1.2B |
| Q2 2026 | $1.5B |
| Q1 2026 | $5B |
| Q4 2025 | $340M |
| Q3 2025 | $362M |
| Q2 2025 | $828M |
| Q1 2025 | $3.7B |
| Q4 2024 | $640M |
CAT spent $8.1B buying back its own shares over the past year, up 47% from the year before.
ADBE Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.0x | Very low |
| Q2 2026 | -0.0x | Net Cash |
| Q1 2026 | -0.1x | Net Cash |
| Q4 2025 | 0.1x | Very low |
| Q3 2025 | 0.1x | Very low |
| Q2 2025 | 0.1x | Very low |
| Q1 2025 | -0.1x | Net Cash |
| Q4 2024 | -0.5x | Net Cash |
ADBE's net debt is less than a year of its operating earnings (EBITDA).
CAT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.5x | Net Cash |
| Q2 2026 | -0.4x | Net Cash |
| Q1 2026 | -0.3x | Net Cash |
| Q4 2025 | 2.0x | Healthy |
| Q3 2025 | -0.6x | Net Cash |
| Q2 2025 | -0.4x | Net Cash |
| Q1 2025 | -0.3x | Net Cash |
| Q4 2024 | 1.6x | Healthy |
CAT has the edge over ADBE on leverage, with a lower net debt burden relative to earnings.
ADBE Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 45.4 | Neutral |
| Stochastic | 25.8 | Neutral |
ADBE's weekly RSI is 45 (neutral) and its Stochastic is 26 (neutral).
CAT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 32.7 | Neutral |
| Stochastic | 6.7 | Oversold |
CAT's weekly RSI is 33 (neutral) and its Stochastic is 7 (oversold).
ADBE PE vs Technology Sector
| Metric | ADBE | Sector median | Relative |
|---|---|---|---|
| PE | 13x | 28x | 52% below |
| PE % | 3 | 35 | 32 pts below |
ADBE has the edge over CAT on valuation relative to its sector.
CAT PE vs Industrials Sector
| Metric | CAT | Sector median | Relative |
|---|---|---|---|
| PE | 24x | 24x | 1.1% below |
| PE % | 69 | 58 | 11 pts above |
CAT is trading at 24x earnings, in line with the Industrials sector's median of 24x.
ADBE Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $244.1 | 2.3% below |
| 20 week MA | $248.6 | 4.1% below |
| 50 week MA | $261.6 | 8.8% below |
| 100 week MA | $321.8 | 26% below |
| 200 week MA | $410.6 | 42% below |
ADBE is in a downtrend: it's below all five of its weekly moving averages, and 42% below its 200-week average.
CAT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $709.0 | 15% below |
| 20 week MA | $797.0 | 24% below |
| 50 week MA | $771.3 | 22% below |
| 100 week MA | $586.7 | 3.2% above |
| 200 week MA | $443.1 | 37% above |
CAT has the edge over ADBE on trend strength, trading above more of its moving averages.
ADBE Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $330.8 | $499.9 | +51% |
| 2021 | $499.9 | $569.6 | +14% |
| 2022 | $569.6 | $338.5 | -41% |
| 2023 | $338.5 | $596.6 | +76% |
| 2024 | $596.6 | $446.5 | -25% |
| 2025 | $446.5 | $353.8 | -21% |
| 2026 YTD | $353.8 | $238.5 | -33% |
ADBE has finished lower in three of the last six years. It's down 33% so far in 2026.
CAT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $148.3 | $179.6 | +21% |
| 2021 | $179.6 | $206.2 | +15% |
| 2022 | $206.2 | $239.9 | +16% |
| 2023 | $239.9 | $295.7 | +23% |
| 2024 | $295.7 | $364.9 | +23% |
| 2025 | $364.9 | $583.0 | +60% |
| 2026 YTD | $583.0 | $605.3 | +3.8% |
CAT has the edge over ADBE on returns for 2026, with the stronger performance.