ADBE
Adobe Inc.
ADBE has the edge over ZETA overall, supported by stronger valuation and lower modeled downside.
ZETA
Zeta Global Holdings Corp.
ZETA offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
ADBE Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
ADBE's revenue, profitability, cash flow and balance sheet are all currently healthy.
ZETA Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| Strong | |
| Healthy |
ZETA'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's PE is in its cheap range at 13x. If earnings grow as analysts expect, today's price would be 8.9x next year's earnings.
ZETA PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 29x | $37.27 | — |
| Current | 248x | $37.27 | — |
| Cheap | N/A | N/A | N/A |
| Fair | N/A | N/A | N/A |
| Expensive | N/A | N/A | N/A |
Historical ranges are pointers, not guarantees.
ZETA has the edge over ADBE in the historical PE scenario, which offers more potential upside but is not a forecast.
ADBE Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Improving | |
| Moderate | |
| Moderate |
Analysts expect earnings and revenue growth for ADBE, with profitability improving.
ZETA Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect strong earnings and revenue growth for ZETA, 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's earnings per share have climbed steadily: $17.91 over the past year, up 12% from the year before, and higher year over year for 16 quarters in a row.
ZETA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.27 | +748% |
| Q3 2026 | $0.15 | +$0.23 |
| Q2 2026 | -$0.01 | +$0.14 |
| Q1 2026 | -$0.10 | +$0.15 |
| Q4 2025 | -$0.14 | +$0.24 |
| Q3 2025 | -$0.08 | +$0.61 |
| Q2 2025 | -$0.15 | +$0.72 |
| Q1 2025 | -$0.25 | +$0.80 |
| Q4 2024 | -$0.38 | +$0.82 |
ZETA has returned to profit: it earned $0.15 per share over the past year, after losing money 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 ZETA on profitability, with a higher operating margin.
ZETA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $492.7M | +46% |
| Q2 2026 | $442.8M | +44% |
| Q1 2026 | $396.3M | +50% |
| Q4 2025 | $394.6M | +25% |
| Q3 2025 | $337.2M | +26% |
| Q2 2025 | $308.4M | +35% |
| Q1 2025 | $264.4M | +36% |
| Q4 2024 | $314.7M | +50% |
ZETA has the edge over ADBE on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 9.3% | +6.7 points |
| Q2 2026 | 3.8% | +5.5 points |
| Q1 2026 | -4.8% | +1.3 points |
| Q4 2025 | 4.5% | +2.3 points |
| Q3 2025 | 2.6% | +7.2 points |
| Q2 2025 | -1.7% | +10 points |
| Q1 2025 | -6.1% | +12 points |
| Q4 2024 | 2.2% | +17 points |
ZETA's operating margin was 9.3% last quarter, up 6.7 points from the same quarter a year ago, near the top of its range since 2020.
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's free cash flow has been positive every quarter for seven years: $10.6B over the past year, up 10% from the year before.
ZETA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $88.3M | +68% |
| Q2 2026 | $64.4M | +62% |
| Q1 2026 | $46.7M | +46% |
| Q4 2025 | $60.9M | +72% |
| Q3 2025 | $52.4M | +78% |
| Q2 2025 | $39.7M | +63% |
| Q1 2025 | $32.1M | +70% |
| Q4 2024 | $35.4M | +66% |
ZETA has the edge over ADBE on cash flow, with more consistent year-over-year improvement.
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 ZETA 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.
ZETA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +3.1% | +8M shares |
| 1 year | +19% | +42.2M shares |
| 3 years | +67% | +107M shares |
| 5 years | +417% | +213M shares |
| Available history | +712% | +232M shares |
ZETA has 265M diluted shares, up 19% from a year ago.
| Quarter | Spent |
|---|---|
| Q1 2021 | — |
| Q4 2020 | — |
| Q3 2020 | — |
| Q2 2020 | — |
| Q1 2020 | — |
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).
ZETA Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.7x | Net Cash |
| Q2 2026 | -1.0x | Net Cash |
| Q1 2026 | -1.1x | Net Cash |
| Q4 2025 | -1.6x | Net Cash |
| Q3 2025 | -3.0x | Net Cash |
| Q2 2025 | -4.5x | Net Cash |
| Q1 2025 | -14.1x | Net Cash |
ZETA 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).
ZETA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 70.3 | Overbought |
| Stochastic | 75.8 | Neutral |
ZETA's weekly RSI is 70 (overbought) and its Stochastic is 76 (neutral).
ADBE PE vs Technology Sector
| Metric | ADBE | Sector median | Relative |
|---|---|---|---|
| PE | 13x | 28x | 52% below |
| PE % | 3 | 35 | 32 pts below |
ADBE is trading at 13x earnings, a 52% discount to the Technology sector's median of 28x.
ZETA PE vs Technology Sector
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.
ZETA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $32.6 | 15% above |
| 20 week MA | $28.6 | 30% above |
| 50 week MA | $22.6 | 65% above |
| 100 week MA | $19.7 | 89% above |
| 200 week MA | $16.7 | 123% above |
ZETA 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.
ZETA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $8.27 | $8.40 | +1.6% |
| 2022 | $8.40 | $8.21 | -2.3% |
| 2023 | $8.21 | $8.82 | +7.4% |
| 2024 | $8.82 | $17.7 | +100% |
| 2025 | $17.7 | $20.7 | +17% |
| 2026 YTD | $20.7 | $37.3 | +80% |
ZETA has the edge over ADBE on returns for 2026, with the stronger performance.