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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 2026-06-19, ADBE is undervalued at $195, with a DCF intrinsic value of $558 and a margin of safety of 65%. SPG is overvalued at $211, with an intrinsic value of $165 and a margin of safety of -28%. Of the two, ADBE has the wider margin of safety.

ADBE
Adobe Inc.
$195.16
VS
SPG
Simon Property Group, Inc.
$211.33

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
    11.88%
    FCF Yield
    3.11%
    11.16
    Trailing P/E
    14.70
    7.09
    Forward P/E
    31.51
    Quality & Moat
    37.82%
    ROIC
    6.45%
    62.95%
    ROE
    113.59%
    89.40%
    Gross Margin
    81.58%
    0.57
    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
    4.09%
    ADBE: 9Ties: 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
    $106.00
    created per $1 retained over 3 years
    Exceptional Value Creator
    Σ Retained
    $205.6M
    Δ Market Cap
    +$21.79B
    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
    65.0% Margin of Safety
    Price is 65.0% below estimated fair value
    Current Price: $195.16
    Fair Value: $558.28
    Strongly undervalued
    Undervalued
    Fairly valued
    Overvalued
    Strongly overvalued
    SPG
    28.3% Overvalued
    Price is 28.3% above estimated fair value
    Current Price: $211.33
    Fair Value: $164.71
    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 $195?

    -1.6%
    Market-Implied Owner Earnings Growth
    Standard FCF implies -4.0%

    The market implies -1.6% Owner Earnings growth, below historical trends — potential opportunity.

    Standard FCF implies a more demanding -4.0%, reflecting heavy growth investment expected to generate future returns.

    SPG

    What growth rate is the market pricing in at $211?

    +8.2%
    Market-Implied Owner Earnings Growth
    Standard FCF implies +18.3%

    The market implies +8.2% Owner Earnings growth, below historical trends — potential opportunity.

    Standard FCF implies a more demanding +18.3%, 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 88.1%Retail & Other 11.7%
    No. of Institutional Holders3,191
    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 95.1%Retail & Other 3.1%
    No. of Institutional Holders1,811
    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
    0
    Buys (3M)
    0
    Buys (12M)
    DURN DANIEL J
    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)
    23
    Buys (12M)
    Total value (12M): $988,547
    LEWIS RANDALL J.
    Director
    $10,293
    @ $183.80 · 2026-03-31
    SMITH DANIEL C.
    Director
    $65,249
    @ $183.80 · 2026-03-31
    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
    RODKIN GARY M
    Director
    $42,642
    @ $183.80 · 2026-03-31
    LEIBOWITZ REUBEN S
    Director
    $90,246
    @ $183.80 · 2026-03-31
    GLASSCOCK LARRY C
    Director
    $68,557
    @ $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
    SMITH DANIEL C.
    Director
    $60,212
    @ $159.29 · 2025-06-30
    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
    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
    SMITH DANIEL C.
    Director
    $54,372
    @ $167.30 · 2024-09-30
    AEPPEL GLYN F
    Director
    $32,791
    @ $167.30 · 2024-09-30
    SELIG STEFAN M
    Director
    $30,449
    @ $167.30 · 2024-09-30
    JONES NINA P.
    Director
    $3,346
    @ $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
    GLASSCOCK LARRY C
    Director
    $56,547
    @ $167.30 · 2024-09-30
    SMITH DANIEL C.
    Director
    $52,259
    @ $150.17 · 2024-06-28
    SELIG STEFAN M
    Director
    $29,283
    @ $150.17 · 2024-06-28
    RODKIN GARY M
    Director
    $33,488
    @ $150.17 · 2024-06-28
    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
    2
    Sells (3M)
    4
    Sells (12M)
    Total value (12M): $1.05M
    FORUSZ JILLIAN
    Officer
    $185,915
    @ $246.25 · 2026-04-30
    DURN DANIEL J
    Chief Financial Officer
    $331,355
    @ $248.02 · 2026-04-20
    DURN DANIEL J
    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 J
    Chief Financial Officer
    $3.35M
    @ $515.44 · 2024-09-17
    GARFIELD MARK S.
    Officer
    $52,089
    @ $537.00 · 2024-07-25
    BELSKY SCOTT K
    Officer
    $258,297
    @ $537.00 · 2024-07-25
    GARFIELD MARK S.
    Officer
    $85,255
    @ $564.60 · 2024-07-16
    BELSKY SCOTT K
    Officer
    $1.25M
    @ $561.60 · 2024-07-16
    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
    🥶Extreme Fear(17/100)

    "Mr. Market is panicking — potential buying opportunity if fundamentals are strong"

    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(68/100)

    "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

    Learn more →
    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: Extreme Fear (17)
    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 (68)
    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, ADBE trades at a 65.0% margin of safety (intrinsic value $558 vs. price $195), compared to SPG's -28.3% margin of safety (intrinsic $165 vs. $211).

    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 1.3 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 company has better free cash flow, Adobe Inc. or Simon Property Group, Inc.?▼

    Adobe Inc. (ADBE) generates a 11.9% free cash flow yield, compared to Simon Property Group, Inc.'s 3.1%. A higher FCF yield means the business converts more of its market value into cash that can be returned to shareholders or reinvested.

    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.