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Side-by-side financial comparison of Adobe Inc. (ADBE) and nCino, Inc. (NCNO). Click either name above to swap in a different company.
Adobe Inc. is the larger business by last-quarter revenue ($6.4B vs $152.2M, roughly 42.0× nCino, Inc.). Adobe Inc. runs the higher net margin — 29.5% vs 4.3%, a 25.2% gap on every dollar of revenue. On growth, Adobe Inc. posted the faster year-over-year revenue change (12.0% vs 9.6%). Adobe Inc. produced more free cash flow last quarter ($2.9B vs $4.9M). Over the past eight quarters, nCino, Inc.'s revenue compounded faster (10.9% CAGR vs 9.8%).
Adobe Inc., formerly Adobe Systems Incorporated, is an American multinational computer software company based in San Jose, California. It offers a wide range of programs from web design tools, photo manipulation, and vector creation to video and audio editing, mobile app development, print layout, and animation software.
nCino, Inc. is a global financial technology company headquartered in Wilmington, North Carolina. The company offers its cloud-based banking software and core banking platform. The nCino Platform is used by banks and credit unions, and enterprise financial institutions.
ADBE vs NCNO — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $6.4B | $152.2M |
| Net Profit | $1.9B | $6.5M |
| Gross Margin | 89.6% | 61.6% |
| Operating Margin | 37.8% | 7.7% |
| Net Margin | 29.5% | 4.3% |
| Revenue YoY | 12.0% | 9.6% |
| Net Profit YoY | 4.3% | 224.5% |
| EPS (diluted) | $4.60 | $0.06 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $6.4B | — | ||
| Q4 25 | $6.2B | $152.2M | ||
| Q3 25 | $6.0B | $148.8M | ||
| Q2 25 | $5.9B | $144.1M | ||
| Q1 25 | $5.7B | $141.4M | ||
| Q4 24 | $5.6B | $138.8M | ||
| Q3 24 | $5.4B | $132.4M | ||
| Q2 24 | $5.3B | $128.1M |
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.9B | $6.5M | ||
| Q3 25 | $1.8B | $-15.3M | ||
| Q2 25 | $1.7B | $5.6M | ||
| Q1 25 | $1.8B | $-18.6M | ||
| Q4 24 | $1.7B | $-5.3M | ||
| Q3 24 | $1.7B | $-11.0M | ||
| Q2 24 | $1.6B | $-3.0M |
| Q1 26 | 89.6% | — | ||
| Q4 25 | 89.5% | 61.6% | ||
| Q3 25 | 89.3% | 59.2% | ||
| Q2 25 | 89.1% | 60.0% | ||
| Q1 25 | 89.1% | 59.7% | ||
| Q4 24 | 89.0% | 61.3% | ||
| Q3 24 | 89.8% | 59.3% | ||
| Q2 24 | 88.7% | 60.0% |
| Q1 26 | 37.8% | — | ||
| Q4 25 | 36.5% | 7.7% | ||
| Q3 25 | 36.3% | -6.2% | ||
| Q2 25 | 35.9% | -1.0% | ||
| Q1 25 | 37.9% | -4.1% | ||
| Q4 24 | 34.9% | -0.6% | ||
| Q3 24 | 36.8% | -6.0% | ||
| Q2 24 | 35.5% | -2.9% |
| Q1 26 | 29.5% | — | ||
| Q4 25 | 30.0% | 4.3% | ||
| Q3 25 | 29.6% | -10.3% | ||
| Q2 25 | 28.8% | 3.9% | ||
| Q1 25 | 31.7% | -13.2% | ||
| Q4 24 | 30.0% | -3.8% | ||
| Q3 24 | 31.1% | -8.3% | ||
| Q2 24 | 29.6% | -2.3% |
| Q1 26 | $4.60 | — | ||
| Q4 25 | $4.44 | $0.06 | ||
| Q3 25 | $4.18 | $-0.13 | ||
| Q2 25 | $3.94 | $0.05 | ||
| Q1 25 | $4.14 | $-0.15 | ||
| Q4 24 | $3.75 | $-0.05 | ||
| Q3 24 | $3.76 | $-0.10 | ||
| Q2 24 | $3.49 | $-0.03 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $6.9B | $87.6M |
| Total DebtLower is stronger | $5.4B | — |
| Stockholders' EquityBook value | $11.4B | $1.0B |
| Total Assets | $29.7B | $1.6B |
| Debt / EquityLower = less leverage | 0.47× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $6.9B | — | ||
| Q4 25 | $6.6B | $87.6M | ||
| Q3 25 | $5.9B | $122.9M | ||
| Q2 25 | $5.7B | $133.2M | ||
| Q1 25 | $7.4B | $120.9M | ||
| Q4 24 | $7.9B | $257.9M | ||
| Q3 24 | $7.5B | $121.4M | ||
| Q2 24 | $8.1B | $129.5M |
| Q1 26 | $5.4B | — | ||
| Q4 25 | $6.2B | — | ||
| Q3 25 | $6.2B | — | ||
| Q2 25 | $6.2B | — | ||
| Q1 25 | $6.2B | — | ||
| Q4 24 | $4.1B | — | ||
| Q3 24 | $4.1B | — | ||
| Q2 24 | $4.1B | — |
| Q1 26 | $11.4B | — | ||
| Q4 25 | $11.6B | $1.0B | ||
| Q3 25 | $11.8B | $1.1B | ||
| Q2 25 | $11.4B | $1.1B | ||
| Q1 25 | $13.1B | $1.1B | ||
| Q4 24 | $14.1B | $1.1B | ||
| Q3 24 | $14.5B | $1.1B | ||
| Q2 24 | $14.8B | $1.1B |
| Q1 26 | $29.7B | — | ||
| Q4 25 | $29.5B | $1.6B | ||
| Q3 25 | $28.8B | $1.6B | ||
| Q2 25 | $28.1B | $1.7B | ||
| Q1 25 | $30.0B | $1.6B | ||
| Q4 24 | $30.2B | $1.5B | ||
| Q3 24 | $29.8B | $1.4B | ||
| Q2 24 | $30.0B | $1.4B |
| Q1 26 | 0.47× | — | ||
| Q4 25 | 0.53× | — | ||
| Q3 25 | 0.53× | — | ||
| Q2 25 | 0.54× | — | ||
| Q1 25 | 0.47× | — | ||
| Q4 24 | 0.29× | — | ||
| Q3 24 | 0.28× | — | ||
| Q2 24 | 0.28× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $3.0B | $5.1M |
| Free Cash FlowOCF − Capex | $2.9B | $4.9M |
| FCF MarginFCF / Revenue | 45.7% | 3.2% |
| Capex IntensityCapex / Revenue | 0.6% | 0.1% |
| Cash ConversionOCF / Net Profit | 1.57× | 0.78× |
| TTM Free Cash FlowTrailing 4 quarters | $10.3B | $59.7M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $3.0B | — | ||
| Q4 25 | $3.2B | $5.1M | ||
| Q3 25 | $2.2B | $17.7M | ||
| Q2 25 | $2.2B | $54.3M | ||
| Q1 25 | $2.5B | $-10.0M | ||
| Q4 24 | — | $5.8M | ||
| Q3 24 | $2.0B | $5.0M | ||
| Q2 24 | $1.9B | $54.4M |
| Q1 26 | $2.9B | — | ||
| Q4 25 | $3.1B | $4.9M | ||
| Q3 25 | $2.1B | $12.6M | ||
| Q2 25 | $2.1B | $52.6M | ||
| Q1 25 | $2.5B | $-10.4M | ||
| Q4 24 | — | $5.1M | ||
| Q3 24 | $2.0B | $4.6M | ||
| Q2 24 | $1.9B | $54.1M |
| Q1 26 | 45.7% | — | ||
| Q4 25 | 50.5% | 3.2% | ||
| Q3 25 | 35.5% | 8.5% | ||
| Q2 25 | 36.5% | 36.5% | ||
| Q1 25 | 43.0% | -7.3% | ||
| Q4 24 | — | 3.7% | ||
| Q3 24 | 36.3% | 3.4% | ||
| Q2 24 | 35.8% | 42.2% |
| Q1 26 | 0.6% | — | ||
| Q4 25 | 0.5% | 0.1% | ||
| Q3 25 | 1.2% | 3.5% | ||
| Q2 25 | 0.8% | 1.2% | ||
| Q1 25 | 0.5% | 0.2% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | 1.1% | 0.3% | ||
| Q2 24 | 0.8% | 0.3% |
| Q1 26 | 1.57× | — | ||
| Q4 25 | 1.70× | 0.78× | ||
| Q3 25 | 1.24× | — | ||
| Q2 25 | 1.30× | 9.77× | ||
| Q1 25 | 1.37× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.20× | — | ||
| Q2 24 | 1.23× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ADBE
| Subscription Revenue | $6.2B | 97% |
| Service Other | $110.0M | 2% |
| Products | $90.0M | 1% |
NCNO
| License And Service | $133.4M | 88% |
| Professional Services | $18.8M | 12% |
