Adobe vs Intuit
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The short version
- Adobe is the larger business, with $23.8B of revenue in fiscal 2025 against $21.4B for Intuit.
- Intuit grew revenue faster (13.9%, against 10.5%).
- Adobe kept more of each dollar of sales as operating profit (36.6% operating margin, against 27.4%).
- Adobe turned more of its sales into free cash flow (41.5% FCF margin, against 40.4%).
- Adobe earned a higher return on the capital invested in it (65.9%, against 22.0%).
| Latest fiscal year | ADBE · FY25 | INTU · FY26 |
|---|---|---|
| Size | ||
| Market cap | $104.3B | $95.1B |
| Revenue | $23.8B | $21.4B |
| Free cash flow | $9.9B | $8.7B |
| Net income | $7.1B | $4.6B |
| Growth | ||
| Revenue growth | 10.5% | 13.9% |
| 5-year growth | 13.1% | 17.4% |
| Share count change | −5.1% | −2.1% |
| Profitability | ||
| Gross margin | 89.3% | — |
| Operating margin | 36.6% | 27.4% |
| Net margin | 30.0% | 21.3% |
| FCF margin | 41.5% | 40.4% |
| Return on capital | 65.9% | 22.0% |
| Return on equity | 55.4% | 23.6% |
| Balance sheet | ||
| Net debt | −$385M | $469M |
| Net debt / EBITDA | −0.0x | 0.1x |
| Dividends and buybacks | $11.3B | $6.8B |
| Valuation & quality | ||
| P/E | 14.7x | — |
| Piotroski F-score | 7 | 6 |
Revenue
FY17
ADBE $7.3B
INTU $5.2B
FY18
ADBE $9.0B
INTU $6.0B
FY19
ADBE $11.2B
INTU $6.8B
FY20
ADBE $12.9B
INTU $7.7B
FY21
ADBE $15.8B
INTU $9.6B
FY22
ADBE $17.6B
INTU $12.7B
FY23
ADBE $19.4B
INTU $14.4B
FY24
ADBE $21.5B
INTU $16.3B
FY25
ADBE $23.8B
INTU $18.8B
FY26
ADBE —
INTU $21.4B
ADBE
INTU
Operating margin
FY17
ADBE 29.7%
INTU 27.3%
FY18
ADBE 31.5%
INTU 25.9%
FY19
ADBE 29.3%
INTU 27.3%
FY20
ADBE 32.9%
INTU 28.3%
FY21
ADBE 36.8%
INTU 26.0%
FY22
ADBE 34.6%
INTU 20.2%
FY23
ADBE 34.3%
INTU 21.9%
FY24
ADBE 31.4%
INTU 22.3%
FY25
ADBE 36.6%
INTU 26.1%
FY26
ADBE —
INTU 27.4%
ADBE
INTU
Free cash flow
FY17
ADBE $2.7B
INTU $1.5B
FY18
ADBE $3.8B
INTU $2.1B
FY19
ADBE $4.0B
INTU $2.2B
FY20
ADBE $5.3B
INTU $2.4B
FY21
ADBE $6.9B
INTU $3.2B
FY22
ADBE $7.4B
INTU $3.7B
FY23
ADBE $6.9B
INTU $4.8B
FY24
ADBE $7.9B
INTU $4.7B
FY25
ADBE $9.9B
INTU $6.1B
FY26
ADBE —
INTU $8.7B
ADBE
INTU
Return on capital
FY17
ADBE 37.9%
INTU 88.9%
FY18
ADBE 35.6%
INTU 93.0%
FY19
ADBE 29.0%
INTU 106.5%
FY20
ADBE 38.7%
INTU —
FY21
ADBE 40.0%
INTU 49.6%
FY22
ADBE 39.1%
INTU 14.9%
FY23
ADBE 44.4%
INTU 12.6%
FY24
ADBE 47.7%
INTU 15.1%
FY25
ADBE 65.9%
INTU 19.0%
FY26
ADBE —
INTU 22.0%
ADBE
INTU
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.