Adobe vs Palantir
Add, change or remove companies; up to four.
The short version
- Adobe is the larger business, with $23.8B of revenue in fiscal 2025 against $4.5B for Palantir, about 5.3 times as much.
- Palantir grew revenue faster (56.2%, against 10.5%).
- Adobe kept more of each dollar of sales as operating profit (36.6% operating margin, against 31.6%).
- Palantir turned more of its sales into free cash flow (46.9% FCF margin, against 41.5%).
- Investors pay more for each dollar of Palantir’s earnings: a P/E of 169.6x against 14.7x for Adobe.
| Latest fiscal year | ADBE · FY25 | PLTR · FY25 |
|---|---|---|
| Size | ||
| Market cap | $104.3B | $505.4B |
| Revenue | $23.8B | $4.5B |
| Free cash flow | $9.9B | $2.1B |
| Net income | $7.1B | $1.6B |
| Growth | ||
| Revenue growth | 10.5% | 56.2% |
| 5-year growth | 13.1% | 32.6% |
| Share count change | −5.1% | 4.7% |
| Profitability | ||
| Gross margin | 89.3% | 82.4% |
| Operating margin | 36.6% | 31.6% |
| Net margin | 30.0% | 36.3% |
| FCF margin | 41.5% | 46.9% |
| Return on capital | 65.9% | — |
| Return on equity | 55.4% | 26.2% |
| Balance sheet | ||
| Net debt | −$385M | −$7.2B |
| Net debt / EBITDA | −0.0x | −5.0x |
| Dividends and buybacks | $11.3B | $75.0M |
| Valuation & quality | ||
| P/E | 14.7x | 169.6x |
| Piotroski F-score | 7 | 7 |
Revenue
FY16
ADBE $5.9B
PLTR —
FY17
ADBE $7.3B
PLTR —
FY18
ADBE $9.0B
PLTR $595M
FY19
ADBE $11.2B
PLTR $743M
FY20
ADBE $12.9B
PLTR $1.1B
FY21
ADBE $15.8B
PLTR $1.5B
FY22
ADBE $17.6B
PLTR $1.9B
FY23
ADBE $19.4B
PLTR $2.2B
FY24
ADBE $21.5B
PLTR $2.9B
FY25
ADBE $23.8B
PLTR $4.5B
ADBE
PLTR
Operating margin
FY16
ADBE 25.5%
PLTR —
FY17
ADBE 29.7%
PLTR —
FY18
ADBE 31.5%
PLTR −104.7%
FY19
ADBE 29.3%
PLTR −77.6%
FY20
ADBE 32.9%
PLTR −107.4%
FY21
ADBE 36.8%
PLTR −26.7%
FY22
ADBE 34.6%
PLTR −8.5%
FY23
ADBE 34.3%
PLTR 5.4%
FY24
ADBE 31.4%
PLTR 10.8%
FY25
ADBE 36.6%
PLTR 31.6%
ADBE
PLTR
Free cash flow
FY16
ADBE $2.0B
PLTR —
FY17
ADBE $2.7B
PLTR —
FY18
ADBE $3.8B
PLTR −$52.0M
FY19
ADBE $4.0B
PLTR −$178M
FY20
ADBE $5.3B
PLTR −$309M
FY21
ADBE $6.9B
PLTR $321M
FY22
ADBE $7.4B
PLTR $184M
FY23
ADBE $6.9B
PLTR $697M
FY24
ADBE $7.9B
PLTR $1.1B
FY25
ADBE $9.9B
PLTR $2.1B
ADBE
PLTR
Return on capital
FY16
ADBE 25.7%
PLTR —
FY17
ADBE 37.9%
PLTR —
FY18
ADBE 35.6%
PLTR —
FY19
ADBE 29.0%
PLTR —
FY20
ADBE 38.7%
PLTR —
FY21
ADBE 40.0%
PLTR —
FY22
ADBE 39.1%
PLTR —
FY23
ADBE 44.4%
PLTR —
FY24
ADBE 47.7%
PLTR —
FY25
ADBE 65.9%
PLTR —
ADBE
PLTR
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.