Adobe vs Salesforce
Salesforce is the larger business, with $41.52bn of revenue in fiscal 2026 against $23.77bn for Adobe (1.7 times as much). Adobe grew faster (10.5% against 9.6%). Adobe kept more of each dollar of sales as profit: a net margin of 30.0% against 18.0%. Salesforce carries less debt relative to equity (24.4% against 53.4%).
| Latest fiscal year | AdobeADBE, 2025 | SalesforceCRM, 2026 |
|---|---|---|
| Revenue | $23.77bn | $41.52bn |
| Revenue growth | 10.5% | 9.6% |
| Net income | $7.13bn | $7.46bn |
| Operating margin | 36.6% | 20.1% |
| Net margin | 30.0% | 18.0% |
| Return on equity | 55.4% | 12.4% |
| Free cash flow | $9.85bn | $14.40bn |
| Cash | $5.43bn | $7.33bn |
| Total debt | $6.21bn | $14.44bn |
| Debt to equity | 53.4% | 24.4% |
| Dividend per share | — | — |
| Dividend yield | — | 0.7% |
| Share buybacks | $11.28bn | $12.60bn |
| Employees | 31,360 | 83,334 |
| Market value | $96.53bn | $206.36bn |
| Price vs our value range | Below our value range | Within our value range |
| Moat score | 78 (Strong) | 49 (Moderate) |
| Insider trades, 12 months | 1 buys, 19 sales | 6 buys, 13 sales |