Adobe (ADBE) vs Salesforce (CRM): Stock Comparison
Data as of November 7, 2026. Refreshed weekly from SEC filings and market data.
Adobe is cheaper on earnings, at 13.2 times against 18.9; Adobe keeps the higher net margin (28.1% against 22.0%); revenue growth is about the same (12.0% and 11.2%); dividend yield is about the same (0.0% and 0.8%). Adobe clears 5 of this site's 8 value filters and Salesforce 8. Figures are as of November 7, 2026; each is on the page below with its source.
How do Adobe and Salesforce compare on the numbers?
| Measure | Adobe (ADBE) | Salesforce (CRM) | Clearer lead |
|---|---|---|---|
| Share price | $239.30 | $213.65 | |
| Market value | $95.9 billion | $183 billion | |
| P/E ratio (trailing) | 13.2 | 18.9 | ADBE |
| PEG ratio | 0.93 | 1.39 | ADBE |
| Free-cash-flow yield | 11.0% | 8.3% | ADBE |
| Net profit margin | 28.1% | 22.0% | ADBE |
| Revenue growth, last year | 12.0% | 11.2% | About the same |
| Return on equity | 62.9% | 20.2% | ADBE |
| Debt to equity | 0.54 | 1.02 | ADBE |
| Dividend yield | 0.0% | 0.8% | About the same |
| Margin of safety (DCF) | +47.0% | +29.3% | ADBE |
| Value filters passed (of 8) | 5 | 8 | CRM |
| Distance from 52-week high | -33.5% | -19.7% |
How have Adobe and Salesforce shares done against each other?
Adobe 36Salesforce 69
Each share price set to 100 on Nov 2021, to Nov 2026. Price only: dividends are not included.
From Nov 2021 to Nov 2026, Adobe shares are down 64% and Salesforce shares down 31%, so Salesforce has pulled ahead of Adobe by 33 points of the starting price. The deepest fall from a prior high in that window was 71% for Adobe and 58% for Salesforce.
| Period | Adobe (ADBE) | Salesforce (CRM) |
|---|---|---|
| Last 1 year | -26.9% | -10.7% |
| Last 3 years | -57.7% | +3.0% |
| Last 5 years | -63.9% | -30.5% |
Which has grown faster, Adobe or Salesforce?
Over 5 years, Adobe grew revenue 13.1% a year and earnings per share 9.0% a year; Salesforce grew revenue 14.3% and earnings per share 12.2%. Its net margin averaged 28.3% at Adobe and 10.5% at Salesforce.
| Measure | Adobe (ADBE) | Salesforce (CRM) |
|---|---|---|
| Latest fiscal year ended | Nov 2025 | Jan 2026 |
| Revenue, first year to latest | $12.9 billion to $23.8 billion | $21.3 billion to $41.5 billion |
| Revenue growth per year | 13.1% | 14.3% |
| Earnings per share, first year to latest | $10.83 to $16.70 | $4.38 to $7.80 |
| Earnings per share growth per year | 9.0% | 12.2% |
| Net margin, latest year | 30.0% | 18.0% |
| Net margin, average of the years | 28.3% | 10.5% |
| Free cash flow margin, latest year | 41.4% | 34.7% |
From each company's 10-K filings (SEC EDGAR), over its latest 5 years. Fiscal years end in different months, so each is shown for its own latest 5 years.
What growth does each share price assume?
| Measure | Adobe (ADBE) | Salesforce (CRM) |
|---|---|---|
| Free cash flow growth the price implies | -7.4% a year | -0.5% a year |
| Free cash flow per share | $26.43 | $17.69 |
| Margin of safety on this site's DCF | +47.0% | +29.3% |
At $239.30, Adobe's price implies free cash flow growth of -7.4% a year, fading to 2.5% over 10 years. That is less growth than the 8% baseline.
At $213.65, Salesforce's price implies free cash flow growth of -0.5% a year, fading to 2.5% over 10 years. That is less growth than the 8% baseline.
The same model and baseline as every stock page. A price that asks for less growth is not a better company, only a lower bar to clear.
Where is each stronger?
Where Adobe leads
- Lower P/E: 13.2 against 18.9
- Lower PEG: 0.93 against 1.39
- Higher free-cash-flow yield: 11.0% against 8.3%
- Higher net margin: 28.1% against 22.0%
- Higher return on equity: 62.9% against 20.2%
- Less debt for its equity: 0.54 against 1.02
- Higher margin of safety on this site's DCF: +47.0% against +29.3%
- A higher net margin in its latest filed year: 30.0% against 18.0%
- A higher average net margin: 28.3% against 10.5%
- A higher free-cash-flow margin in its latest filed year: 41.4% against 34.7%
Where Salesforce leads
- More of the 8 value filters: 8 against 5
- Faster revenue growth over its filed record: 14.3% against 13.1%
- Faster earnings-per-share growth over its filed record: 12.2% against 9.0%
About the same on: revenue growth, last year, dividend yield. A lead needs a clear gap (10% apart on a ratio, 1 point on a percentage), so a rounding difference never names a winner. A lead on one measure is not a verdict on the company.
How do the businesses differ?
Adobe. Adobe sells creative, document and marketing software, mostly as subscriptions. Its tools are the industry standard for editing photos, video and design, and its PDF software handles documents for businesses and consumers.
Salesforce. Salesforce sells subscription cloud software for managing customers: sales, service, marketing and data tools in one platform. It has added AI agents and bought several well-known software platforms.
Both are in the Technology industry on this site.
What stands out about Adobe
- Misses 1 of the 8 value filters. It fails Price/Book < 8 (8.15); the other 5 pass and 2 were not evaluated.
- Strongest against peers: free-cash-flow yield. At 11.0% (peer median 4.4%) it ranks 4th of 44 among technology stocks this site tracks.
- Weakest against peers: revenue growth. At 12.0% (peer median 19.3%) it ranks 31st of 44 among technology stocks this site tracks.
What stands out about Salesforce
- No filter fails. CRM passes 8 of the 8 value filters.
- Strongest against peers: free-cash-flow yield. At 8.3% (peer median 4.4%) it ranks 8th of 44 among technology stocks this site tracks.
- Weakest against peers: revenue growth. At 11.2% (peer median 19.3%) it ranks 32nd of 44 among technology stocks this site tracks.
Frequently asked questions about Adobe and Salesforce
Which is cheaper, Adobe or Salesforce?
On trailing earnings, Adobe is cheaper: Adobe trades at 13.2 times and Salesforce at 18.9 times. On free cash flow, the yields are 11.0% and 8.3%. Cheaper is not the same as better value: read the growth each price assumes below.
Which pays the higher dividend, Adobe or Salesforce?
Their yields are about the same: Adobe 0.0% and Salesforce 0.8% over the last year.
Which has grown faster, Adobe or Salesforce?
Over their latest filed five years, Adobe grew revenue 13.1% a year and Salesforce 14.3%; earnings per share grew 9.0% and 12.2% a year.
Which has more debt, Adobe or Salesforce?
Salesforce has more debt for its equity: debt to equity is 0.54 for Adobe and 1.02 for Salesforce. A very high figure can also come from buybacks that shrank equity.
Which is more profitable, Adobe or Salesforce?
Adobe keeps more of each sales dollar as profit: 28.1% for Adobe and 22.0% for Salesforce, with a return on equity of 62.9% and 20.2%.
Which passes more of the 8 value filters?
Salesforce clears more: Adobe 5 of 8 and Salesforce 8 of 8. The filters are this site's own value rules, not a prediction.
Where do these numbers come from?
Prices, ratios and yield are from this site's weekly data as of November 7, 2026; growth and margins by year are from each company's 10-K filings (sources on Adobe and Salesforce). The DCF is the same model on every stock page. See Editorial Standards. Educational, not investment advice.