Adobe (ADBE) open-source valuation model

I used the detailed DCF model to value Adobe Systems stock. You can see a detailed post on the process and the results here.

Please login/subscribe to access the ADBE valuation spreadsheet, and the download link will appear below.

I used the "dean of valuation" (Aswath Damodaran) DCF as a base, and left some of its notes in the template.