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Compare Stocks › ADBE vs SPG

Adobe Inc. (ADBE) vs Simon Property Group, Inc. (SPG): Which Is the Better Buy in 2026?

As of 2026-08-03, ADBE is undervalued at $250, with a DCF intrinsic value of $554 and a margin of safety of 55%. SPG is undervalued at $229, with an intrinsic value of $65577965220 and a margin of safety of 100%. Of the two, SPG has the wider margin of safety.

ADBE
Adobe Inc.
$250.41
VS
SPG
Simon Property Group, Inc.
$229.37

Rewards

ADBE
  • ★Adobe Inc. has maintained ROIC above 15% for 4 consecutive years, indicating a durable competitive advantage.
  • ★Gross margin of 89.4% indicates strong pricing power — typical of businesses with significant intellectual property or brand strength.
  • ★Adobe Inc. scores 100/100 on the Economic Moat Score (Wide Moat), with roic consistency as the strongest competitive dimension.
SPG
  • ★Gross margin of 81.6% indicates strong pricing power — typical of businesses with significant intellectual property or brand strength.
  • ★Simon Property Group, Inc. scores 74/100 on the Economic Moat Score (Wide Moat), with revenue predictability as the strongest competitive dimension.
  • ★Return on equity has consistently exceeded 20% over 4 years, indicating efficient use of shareholder capital.

Risks

ADBE
    SPG
    • ⚠PEG ratio of 4.58 indicates the stock is expensive relative to its expected growth — the market may be pricing in more growth than analysts project.
    • ⚠High leverage (4.49x net debt/equity) combined with thin interest coverage (-1.0x) poses financial risk.
    • ⚠Net debt/EBITDA of 5.8x indicates heavy leverage — it would take over 4 years of EBITDA to pay off net debt.

    Key Valuation Metrics

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    ADBE
    SPG
    Valuation
    $9.22B
    Free Cash Flow
    $2.49B
    9.26%
    FCF Yield
    N/A
    14.33
    Trailing P/E
    15.95
    9.11
    Forward P/E
    34.03
    Quality & Moat
    37.82%
    ROIC
    6.45%
    62.95%
    ROE
    113.59%
    89.40%
    Gross Margin
    81.58%
    0.68
    PEG Ratio
    4.58
    Balance Sheet Safety
    0.13
    Net Debt / Equity
    4.49
    N/A
    Interest Coverage
    N/A
    0.15
    Net Debt / EBITDA
    5.79
    0.00%
    Dividend Yield
    3.84%
    ADBE: 8Ties: 1SPG: 2
    ADBESPG

    Historical Fundamentals

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    ADBE

    Price ÷ Earnings Per Share — how many years of current earnings you're paying for at today's price. Lower P/E may indicate undervaluation. The dashed forward point is the forward P/E — today's price ÷ analyst consensus EPS.

    SPG

    Price ÷ Earnings Per Share — how many years of current earnings you're paying for at today's price. Lower P/E may indicate undervaluation. The dashed forward point is the forward P/E — today's price ÷ analyst consensus EPS.

    Price ÷ Earnings Per Share — how many years of current earnings you're paying for at today's price. Lower P/E may indicate undervaluation. The dashed forward point is the forward P/E — today's price ÷ analyst consensus EPS.

    $1 Retained Earnings Test

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    ADBE
    $-0.60
    created per $1 retained over 3 years
    Market Cap Declined
    Σ Retained
    $18.12B
    Δ Market Cap
    $-10.93B
    Buffett's "$1 Test": For every $1 of earnings retained, has management created at least $1 of market value?
    > $1 created per $1 retained = Value Creator · < $1 created = Value Destroyer
    SPG
    $0.00
    created per $1 retained over 3 years
    Value Destroyer
    Σ Retained
    $205.6M
    Δ Market Cap
    +$67.63
    Buffett's "$1 Test": For every $1 of earnings retained, has management created at least $1 of market value?
    > $1 created per $1 retained = Value Creator · < $1 created = Value Destroyer

    Buffett's "$1 Test": For every $1 of earnings retained, has management created at least $1 of market value?
    > $1 created per $1 retained = Value Creator · < $1 created = Value Destroyer

    Discounted Cash Flow (DCF) Analysis

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    ADBE
    54.8% Margin of Safety
    Price is 54.8% below estimated fair value
    Current Price: $250.41
    Fair Value: $553.74
    Strongly undervalued
    Undervalued
    Fairly valued
    Overvalued
    Strongly overvalued
    SPG
    100.0% Margin of Safety
    Price is 100.0% below estimated fair value
    Current Price: $229.37
    Fair Value: $65577965220.16
    Strongly undervalued
    Undervalued
    Fairly valued
    Overvalued
    Strongly overvalued

    Reverse DCF — Market-Implied Growth

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    ADBE

    What growth rate is the market pricing in at $250?

    +1.8%
    Market-Implied Owner Earnings Growth
    Standard FCF implies -0.6%

    The market implies +1.8% Owner Earnings growth, below historical trends — potential opportunity.

    Standard FCF implies a more demanding -0.6%, reflecting heavy growth investment expected to generate future returns.

    SPG

    What growth rate is the market pricing in at $229?

    -10.9%
    Market-Implied Owner Earnings Growth
    Standard FCF implies -0.0%

    The market implies -10.9% Owner Earnings growth, below historical trends — potential opportunity.

    Standard FCF implies a more demanding -0.0%, reflecting heavy growth investment expected to generate future returns.

    Economic Moat Score

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    ADBE
    100/100
    Wide Moat
    70+ Wide · 40-69 Narrow · <40 None

    Wide moat with strength across all dimensions. ROIC Consistency is the standout factor.

    Composite score measuring competitive advantage durability across four dimensions: returns above cost of capital, pricing power stability, revenue predictability, and capital efficiency. Based on 4 years of fundamental data.
    SPG
    74/100
    Wide Moat
    70+ Wide · 40-69 Narrow · <40 None

    Wide moat driven primarily by revenue predictability. Reinvestment Efficiency is the area most vulnerable to competitive pressure.

    Composite score measuring competitive advantage durability across four dimensions: returns above cost of capital, pricing power stability, revenue predictability, and capital efficiency. Based on 4 years of fundamental data.

    Forensic Accounting

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    ADBE
    -2.85
    Unlikely Manipulator
    Above -1.78 = likely manipulator · -2.22 to -1.78 = grey zone

    M-Score Trend

    Beneish's 8-variable model estimates the probability of earnings manipulation. An M-Score above -1.78 signals elevated risk — companies in this range have historically been 3-5× more likely to be manipulating earnings. Scores between -2.22 and -1.78 fall in a grey zone warranting further investigation.
    SPG
    -2.24
    Unlikely Manipulator
    Above -1.78 = likely manipulator · -2.22 to -1.78 = grey zone

    M-Score Trend

    Beneish's 8-variable model estimates the probability of earnings manipulation. An M-Score above -1.78 signals elevated risk — companies in this range have historically been 3-5× more likely to be manipulating earnings. Scores between -2.22 and -1.78 fall in a grey zone warranting further investigation.

    Beneish's 8-variable model estimates the probability of earnings manipulation. An M-Score above -1.78 signals elevated risk — companies in this range have historically been 3-5× more likely to be manipulating earnings. Scores between -2.22 and -1.78 fall in a grey zone warranting further investigation.

    Ownership Breakdown

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    ADBE
    Insiders 0.2%Institutions 87.8%Retail & Other 12.0%
    No. of Institutional Holders3,051
    High insider ownership aligns management incentives with shareholders — a key signal in Buffett-style analysis. Institutional concentration can indicate smart-money conviction but also crowding risk.
    SPG
    Insiders 1.8%Institutions 94.8%Retail & Other 3.4%
    No. of Institutional Holders1,844
    High insider ownership aligns management incentives with shareholders — a key signal in Buffett-style analysis. Institutional concentration can indicate smart-money conviction but also crowding risk.

    High insider ownership aligns management incentives with shareholders. Institutional concentration can indicate smart-money conviction but also crowding risk.

    Insider Buying Activity

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    ADBE
    1
    Buys (3M)
    1
    Buys (12M)
    Total value (12M): $1.95M
    RICKS DAVID A
    Director
    $1.95M
    @ $194.51 · 2026-06-25
    DURN DANIEL JAMES
    Chief Financial Officer
    $507,758
    @ $390.58 · 2025-03-20
    RICKS DAVID A
    Director
    $998,946
    @ $443.98 · 2025-01-28
    Open market purchases · includes direct & indirect ownership · excludes option exercises
    SPG
    10
    Buys (3M)
    26
    Buys (12M)
    Total value (12M): $792,795
    AEPPEL GLYN F
    Director
    $9,871
    @ $224.34 · 2026-06-30
    STEWART MARTA R.
    Director
    $672.00
    @ $224.00 · 2026-06-30
    SELIG STEFAN M
    Director
    $7,392
    @ $224.00 · 2026-06-30
    ROE PEGGY FANG
    Director
    $2,010
    @ $223.33 · 2026-06-30
    JONES NINA P.
    Director
    $447.00
    @ $223.50 · 2026-06-30
    CICCO MARTIN J
    Director
    $447.00
    @ $223.50 · 2026-06-30
    SMITH DANIEL C.
    Director
    $13,004
    @ $224.21 · 2026-06-30
    GLASSCOCK LARRY C
    Director
    $15,046
    @ $224.57 · 2026-06-30
    RODKIN GARY M
    Director
    $10,538
    @ $224.21 · 2026-06-30
    LEIBOWITZ REUBEN S
    Director
    $17,525
    @ $224.68 · 2026-06-30
    AEPPEL GLYN F
    Director
    $40,620
    @ $183.80 · 2026-03-31
    STEWART MARTA R.
    Director
    $36,025
    @ $183.80 · 2026-03-31
    SELIG STEFAN M
    Director
    $37,863
    @ $183.80 · 2026-03-31
    ROE PEGGY FANG
    Director
    $14,888
    @ $183.80 · 2026-03-31
    JONES NINA P.
    Director
    $6,617
    @ $183.81 · 2026-03-31
    LEWIS RANDALL J.
    Director
    $10,293
    @ $183.80 · 2026-03-31
    SMITH DANIEL C.
    Director
    $65,249
    @ $183.80 · 2026-03-31
    GLASSCOCK LARRY C
    Director
    $68,557
    @ $183.80 · 2026-03-31
    RODKIN GARY M
    Director
    $42,642
    @ $183.80 · 2026-03-31
    LEIBOWITZ REUBEN S
    Director
    $90,246
    @ $183.80 · 2026-03-31
    LEWIS RANDALL J.
    Director
    $100,258
    @ $183.96 · 2025-12-15
    LEWIS RANDALL J.
    Director
    $106,310
    @ $180.80 · 2025-11-18
    AEPPEL GLYN F
    Director
    $38,678
    @ $185.95 · 2025-09-30
    SELIG STEFAN M
    Director
    $36,260
    @ $185.95 · 2025-09-30
    ROE PEGGY FANG
    Director
    $14,132
    @ $185.95 · 2025-09-30
    STEWART MARTA R.
    Director
    $7,205
    @ $171.55 · 2025-08-14
    AEPPEL GLYN F
    Director
    $37,274
    @ $159.29 · 2025-06-30
    STEWART MARTA R.
    Director
    $33,132
    @ $159.29 · 2025-06-30
    ROE PEGGY FANG
    Director
    $13,699
    @ $159.29 · 2025-06-30
    JONES NINA P.
    Director
    $6,053
    @ $159.29 · 2025-06-30
    SMITH DANIEL C.
    Director
    $60,212
    @ $159.29 · 2025-06-30
    RODKIN GARY M
    Director
    $39,185
    @ $159.29 · 2025-06-30
    LEIBOWITZ REUBEN S
    Director
    $83,149
    @ $159.29 · 2025-06-30
    LEIBOWITZ REUBEN S
    Director
    $79,434
    @ $164.80 · 2025-03-31
    SELIG STEFAN M
    Director
    $30,449
    @ $167.30 · 2024-09-30
    JONES NINA P.
    Director
    $3,346
    @ $167.30 · 2024-09-30
    SMITH DANIEL C.
    Director
    $54,372
    @ $167.30 · 2024-09-30
    AEPPEL GLYN F
    Director
    $32,791
    @ $167.30 · 2024-09-30
    GLASSCOCK LARRY C
    Director
    $56,547
    @ $167.30 · 2024-09-30
    HUBBARD ALLAN B
    Director
    $61,901
    @ $167.30 · 2024-09-30
    LEIBOWITZ REUBEN S
    Director
    $75,787
    @ $167.30 · 2024-09-30
    Open market purchases · includes direct & indirect ownership · excludes option exercises

    Open market purchases · includes direct & indirect ownership · excludes option exercises.

    Insider Selling Activity

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    ADBE
    0
    Sells (3M)
    4
    Sells (12M)
    Total value (12M): $1.05M
    FORUSZ JILLIAN
    Officer
    $185,915
    @ $246.25 · 2026-04-30
    DURN DANIEL JAMES
    Chief Financial Officer
    $331,355
    @ $248.02 · 2026-04-20
    DURN DANIEL JAMES
    Chief Financial Officer
    $485,323
    @ $294.85 · 2026-01-27
    FORUSZ JILLIAN
    Officer
    $50,344
    @ $337.88 · 2025-10-31
    FORUSZ JILLIAN
    Officer
    $175,828
    @ $380.58 · 2025-05-02
    FORUSZ JILLIAN
    Officer
    $145,567
    @ $435.83 · 2025-01-28
    BELSKY SCOTT K
    Officer
    $2.05M
    @ $431.61 · 2025-01-27
    BANSE AMY L
    Director
    $333,300
    @ $550.00 · 2024-12-06
    FORUSZ JILLIAN
    Officer
    $327,987
    @ $485.19 · 2024-10-29
    BELSKY SCOTT K
    Officer
    $232,525
    @ $483.42 · 2024-10-25
    BELSKY SCOTT K
    Officer
    $1.14M
    @ $511.48 · 2024-10-16
    DURN DANIEL JAMES
    Chief Financial Officer
    $3.35M
    @ $515.44 · 2024-09-17
    Direct ownership only · excludes indirect, option exercises, planned (10b5-1) sales & derivatives
    SPG
    0
    Sells (3M)
    1
    Sells (12M)
    Total value (12M): $2.01M
    RULLI JOHN
    Officer
    $2.01M
    @ $200.88 · 2026-02-25
    Direct ownership only · excludes indirect, option exercises, planned (10b5-1) sales & derivatives

    Direct ownership only · excludes indirect, option exercises, planned (10b5-1) sales & derivatives.

    🎭 Mr. Market's Mood

    Learn more →
    ADBE
    FearGreed
    😨Fear(39/100)

    "Market is pessimistic — investigate whether fears are temporary or structural"

    Composite sentiment score based on 6 market signals. Inspired by Buffett's "Mr. Market" allegory — fear = potential opportunity, greed = potential risk. Must be used alongside fundamental analysis, not in isolation.
    SPG
    FearGreed
    😏Greed(71/100)

    "Market is optimistic — be cautious and ensure you have a margin of safety"

    Composite sentiment score based on 6 market signals. Inspired by Buffett's "Mr. Market" allegory — fear = potential opportunity, greed = potential risk. Must be used alongside fundamental analysis, not in isolation.

    Composite sentiment score based on market signals. Inspired by Buffett’s "Mr. Market" allegory — fear = potential opportunity, greed = potential risk. Must be used alongside fundamental analysis, not in isolation.

    ⚖️ Buffett Signal

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    ADBE
    ⚪Awaiting DCF Data

    The Buffett Signal cross-references market sentiment with DCF valuation. Configure the DCF Analysis above to generate a signal.

    DCF Margin of Safety: N/AMr. Market's Mood: Fear (39)
    SPG
    ⚪Awaiting DCF Data

    The Buffett Signal cross-references market sentiment with DCF valuation. Configure the DCF Analysis above to generate a signal.

    DCF Margin of Safety: N/AMr. Market's Mood: Greed (71)
    View ADBE Full AnalysisView SPG Full Analysis

    Frequently Asked Questions: ADBE vs SPG

    Is Adobe Inc. or Simon Property Group, Inc. more undervalued in 2026?▼

    Based on our discounted cash flow model, SPG trades at a 100.0% margin of safety (intrinsic value $65577965220 vs. price $229), compared to ADBE's 54.8% margin of safety (intrinsic $554 vs. $250).

    Which stock has a wider economic moat, Adobe Inc. or Simon Property Group, Inc.?▼

    ADBE scores 100/100 (Wide moat), while SPG scores 74/100 (Wide moat). The moat score measures competitive advantage durability across ROIC consistency, margin stability, revenue predictability, and reinvestment efficiency.

    Is Simon Property Group, Inc. in financial distress?▼

    SPG's Altman Z-Score of 0.2 places it in the Distress zone, signaling elevated bankruptcy risk. ADBE scores 8.8 (Safe zone). The Altman Z-Score is a five-factor model that predicts insolvency within two years; scores below 1.81 indicate significant distress.

    Which stock has higher return on invested capital, Adobe Inc. or Simon Property Group, Inc.?▼

    ADBE earns 37.8% ROIC versus SPG's 6.4%. A higher ROIC means the company generates more profit per dollar of capital employed, a hallmark of durable competitive advantage in Buffett-style analysis.