Adobe vs Salesforce (ADBE vs CRM)
Side by side from their SEC filings: revenue, margins, growth, returns and valuation, plus short interest, insider activity and institutional ownership.
Salesforce is the larger company by revenue ($41.5B vs $23.8B) and market value ($212.4B vs $113.7B). Salesforce has grown revenue faster over the last 4 fiscal years (+56.7% cumulative vs +50.6%). Adobe runs the higher operating margin (36.6% vs 20.1%). Adobe trades at the lower trailing P/E (16.7x vs 23.6x).
About Adobe
Adobe Inc. develops software platforms and tools that support creativity, productivity, and personalized customer experiences. Its products serve business professionals, consumers, creators, creative professionals, and marketing professionals by providing AI-powered applications for content creation, document management, and digital marketing. Adobe offers integrated solutions that cover the entire content lifecycle, from ideation to delivery, across desktop, web, and mobile environments.
About Salesforce
Salesforce, Inc. provides customer relationship management technology through its AI-powered Agentforce 360 Platform, which integrates sales, service, marketing, commerce, collaboration, data management, and analytics on a unified platform. The company offers solutions such as Agentforce Sales and Agentforce Service to help businesses automate processes, improve productivity, and deliver personalized customer experiences. Salesforce serves organizations worldwide across various industries, primarily through subscription-based sales and partnerships.
Head to head (ADBE FY2025 vs CRM FY2025)
| Metric | ADBEFY2025 | CRMFY2025 |
|---|---|---|
| Revenue | $23.77B | $41.52B |
| Revenue growth (YoY) | 10.5% | 9.6% |
| Gross margin | 89.3% | 77.7% |
| Operating margin | 36.6% | 20.1% |
| Net margin | 30.0% | 18.0% |
| Net income | $7.13B | $7.46B |
| Diluted EPS | $16.70 | $7.80 |
| FCF margin | 41.4% | 34.7% |
| ROE | 61.3% | 12.6% |
| Long-term debt / equity | 0.53× | 0.18× |
| Market cap | $113.72B | $212.42B |
| P/E | 16.7× | 23.6× |
Fundamentals are from each company’s SEC filings (ADBE FY2025, CRM FY2025). ROE is net income over fiscal-year-end equity; long-term debt / equity counts non-current term debt only. P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.
Five-year trend (as reported)
| Revenue | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| ADBE | $15.79B | $17.61B | $19.41B | $21.50B | $23.77B |
| CRM | $26.49B | $31.35B | $34.86B | $37.90B | $41.52B |
Peer standing
Where each company ranks among the 332 software companies, on the same scale. Each figure is ranked only against peers that report it. Percentiles describe position in the distribution, not a rating.
| Metric | ADBE | CRM |
|---|---|---|
| Gross margin | 89.3%98th percentile of 264 | 77.7%77th percentile of 264 |
| Operating margin | 36.6%97th percentile of 303 | 20.1%84th percentile of 303 |
| Net margin | 30.0%92nd percentile of 307 | 18.0%80th percentile of 307 |
| FCF margin | 41.4%98th percentile of 285 | 34.7%94th percentile of 285 |
| Revenue growth (YoY) | +10.5%49th percentile of 325 | +9.6%46th percentile of 325 |
| ROE | 61.3%94th percentile of 285 | 12.6%69th percentile of 285 |
| P/E | 16.7×30th percentile of 169 | 23.6×44th percentile of 169 |
| Long-term debt / equity | 0.53×58th percentile of 127 | 0.18×29th percentile of 127 |
| Short interest (days to cover) | 4.25d60th percentile of 330 | 2.33d33rd percentile of 330 |
Short interest
| FINRA settlement data | ADBE | CRM |
|---|---|---|
| Shares sold short | 18.0M | 26.5M |
| Change vs prior settlement | -7.1% | -9.9% |
| Days to cover | 4.25 | 2.33 |
| As of settlement | 2026-08-14 | 2026-08-14 |
Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data; republishing or redistributing it is not permitted. Not presented as a percentage of float. No FINRA endorsement of this product is implied.
Insider activity (last 90 days)
| Form 4 activity (codes P/S) | ADBE | CRM |
|---|---|---|
| Buys | 1 ($1.9M) | — |
| Sells | 1 ($109,961) | — |
Non-derivative purchases (code P) and sales (code S) reported on SEC Form 4, which may be open-market or private (grants, exercises and tax withholding excluded). For context, about 15% of covered companies saw any reported insider purchase (code P) in a 90-day window.
Held by the same investors
8 tracked 13F managers hold both Adobe and Salesforce as of their latest quarterly filings: AQR Capital Management, Citadel Advisors, D. E. Shaw, Gotham Asset Management, Harris Associates (Oakmark), Millennium Management, Renaissance Technologies, Two Sigma Investments. See which superinvestors hold your own portfolio with the smart money checker.
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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filings before relying on them. Comparisons are descriptive (higher or lower on a reported figure), not a rating or a recommendation. Informational only. Not investment advice.