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Side-by-side financial comparison of Adobe Inc. (ADBE) and OPEN TEXT CORP (OTEX), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.
Adobe Inc. is the larger business by last-quarter revenue ($6.4B vs $1.3B, roughly 4.8× OPEN TEXT CORP). Adobe Inc. runs the higher net margin — 29.5% vs 12.7%, a 16.9% gap on every dollar of revenue. On growth, Adobe Inc. posted the faster year-over-year revenue change (12.0% vs -0.6%). Adobe Inc. produced more free cash flow last quarter ($2.9B vs $279.4M). Over the past eight quarters, Adobe Inc.'s revenue compounded faster (9.8% CAGR vs -4.3%).
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.
Open Text Corporation is a global software company that develops and sells information management software.
ADBE vs OTEX — Head-to-Head
Income Statement — Q1 2026 vs Q2 2026
| Metric | | |
|---|---|---|
| Revenue | $6.4B | $1.3B |
| Net Profit | $1.9B | $168.1M |
| Gross Margin | 89.6% | 74.0% |
| Operating Margin | 37.8% | 22.0% |
| Net Margin | 29.5% | 12.7% |
| Revenue YoY | 12.0% | -0.6% |
| Net Profit YoY | 4.3% | -26.9% |
| EPS (diluted) | $4.60 | $0.66 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.
| Q1 26 | $6.4B | — | ||
| Q4 25 | $6.2B | $1.3B | ||
| Q3 25 | $6.0B | $1.3B | ||
| Q2 25 | $5.9B | $1.3B | ||
| Q1 25 | $5.7B | $1.3B | ||
| Q4 24 | $5.6B | $1.3B | ||
| Q3 24 | $5.4B | $1.3B | ||
| Q2 24 | $5.3B | $1.4B |
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.9B | $168.1M | ||
| Q3 25 | $1.8B | $146.6M | ||
| Q2 25 | $1.7B | $28.8M | ||
| Q1 25 | $1.8B | $92.8M | ||
| Q4 24 | $1.7B | $229.9M | ||
| Q3 24 | $1.7B | $84.4M | ||
| Q2 24 | $1.6B | $248.2M |
| Q1 26 | 89.6% | — | ||
| Q4 25 | 89.5% | 74.0% | ||
| Q3 25 | 89.3% | 72.8% | ||
| Q2 25 | 89.1% | 72.3% | ||
| Q1 25 | 89.1% | 71.6% | ||
| Q4 24 | 89.0% | 73.3% | ||
| Q3 24 | 89.8% | 71.7% | ||
| Q2 24 | 88.7% | 72.5% |
| Q1 26 | 37.8% | — | ||
| Q4 25 | 36.5% | 22.0% | ||
| Q3 25 | 36.3% | 21.0% | ||
| Q2 25 | 35.9% | 13.9% | ||
| Q1 25 | 37.9% | 16.7% | ||
| Q4 24 | 34.9% | 22.2% | ||
| Q3 24 | 36.8% | 16.3% | ||
| Q2 24 | 35.5% | 14.2% |
| Q1 26 | 29.5% | — | ||
| Q4 25 | 30.0% | 12.7% | ||
| Q3 25 | 29.6% | 11.4% | ||
| Q2 25 | 28.8% | 2.2% | ||
| Q1 25 | 31.7% | 7.4% | ||
| Q4 24 | 30.0% | 17.2% | ||
| Q3 24 | 31.1% | 6.6% | ||
| Q2 24 | 29.6% | 18.2% |
| Q1 26 | $4.60 | — | ||
| Q4 25 | $4.44 | $0.66 | ||
| Q3 25 | $4.18 | $0.58 | ||
| Q2 25 | $3.94 | $0.11 | ||
| Q1 25 | $4.14 | $0.35 | ||
| Q4 24 | $3.75 | $0.87 | ||
| Q3 24 | $3.76 | $0.32 | ||
| Q2 24 | $3.49 | $0.91 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $6.9B | $1.3B |
| Total DebtLower is stronger | $5.4B | $6.4B |
| Stockholders' EquityBook value | $11.4B | $4.0B |
| Total Assets | $29.7B | $13.6B |
| Debt / EquityLower = less leverage | 0.47× | 1.58× |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q1 26 | $6.9B | — | ||
| Q4 25 | $6.6B | $1.3B | ||
| Q3 25 | $5.9B | $1.1B | ||
| Q2 25 | $5.7B | $1.2B | ||
| Q1 25 | $7.4B | $1.3B | ||
| Q4 24 | $7.9B | $1.1B | ||
| Q3 24 | $7.5B | $1.0B | ||
| Q2 24 | $8.1B | $1.3B |
| Q1 26 | $5.4B | — | ||
| Q4 25 | $6.2B | $6.4B | ||
| Q3 25 | $6.2B | $6.4B | ||
| Q2 25 | $6.2B | $6.4B | ||
| Q1 25 | $6.2B | $6.4B | ||
| Q4 24 | $4.1B | $6.4B | ||
| Q3 24 | $4.1B | $6.4B | ||
| Q2 24 | $4.1B | $6.4B |
| Q1 26 | $11.4B | — | ||
| Q4 25 | $11.6B | $4.0B | ||
| Q3 25 | $11.8B | $4.0B | ||
| Q2 25 | $11.4B | $3.9B | ||
| Q1 25 | $13.1B | $4.1B | ||
| Q4 24 | $14.1B | $4.2B | ||
| Q3 24 | $14.5B | $4.1B | ||
| Q2 24 | $14.8B | $4.2B |
| Q1 26 | $29.7B | — | ||
| Q4 25 | $29.5B | $13.6B | ||
| Q3 25 | $28.8B | $13.5B | ||
| Q2 25 | $28.1B | $13.8B | ||
| Q1 25 | $30.0B | $13.8B | ||
| Q4 24 | $30.2B | $13.7B | ||
| Q3 24 | $29.8B | $13.8B | ||
| Q2 24 | $30.0B | $14.2B |
| Q1 26 | 0.47× | — | ||
| Q4 25 | 0.53× | 1.58× | ||
| Q3 25 | 0.53× | 1.61× | ||
| Q2 25 | 0.54× | 1.62× | ||
| Q1 25 | 0.47× | 1.55× | ||
| Q4 24 | 0.29× | 1.51× | ||
| Q3 24 | 0.28× | 1.55× | ||
| Q2 24 | 0.28× | 1.52× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $3.0B | $318.7M |
| Free Cash FlowOCF − Capex | $2.9B | $279.4M |
| FCF MarginFCF / Revenue | 45.7% | 21.1% |
| Capex IntensityCapex / Revenue; lower = less reinvestment burden | 0.6% | 3.0% |
| Cash ConversionOCF / Net Profit; >1× = earnings back up with cash | 1.57× | 1.90× |
| TTM Free Cash FlowTrailing 4 quarters | $10.3B | $878.5M |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q1 26 | $3.0B | — | ||
| Q4 25 | $3.2B | $318.7M | ||
| Q3 25 | $2.2B | $147.8M | ||
| Q2 25 | $2.2B | $158.2M | ||
| Q1 25 | $2.5B | $402.2M | ||
| Q4 24 | — | $348.0M | ||
| Q3 24 | $2.0B | $-77.8M | ||
| Q2 24 | $1.9B | $185.2M |
| Q1 26 | $2.9B | — | ||
| Q4 25 | $3.1B | $279.4M | ||
| Q3 25 | $2.1B | $101.2M | ||
| Q2 25 | $2.1B | $124.0M | ||
| Q1 25 | $2.5B | $373.8M | ||
| Q4 24 | — | $306.7M | ||
| Q3 24 | $2.0B | $-117.1M | ||
| Q2 24 | $1.9B | $145.2M |
| Q1 26 | 45.7% | — | ||
| Q4 25 | 50.5% | 21.1% | ||
| Q3 25 | 35.5% | 7.9% | ||
| Q2 25 | 36.5% | 9.5% | ||
| Q1 25 | 43.0% | 29.8% | ||
| Q4 24 | — | 23.0% | ||
| Q3 24 | 36.3% | -9.2% | ||
| Q2 24 | 35.8% | 10.7% |
| Q1 26 | 0.6% | — | ||
| Q4 25 | 0.5% | 3.0% | ||
| Q3 25 | 1.2% | 3.6% | ||
| Q2 25 | 0.8% | 2.6% | ||
| Q1 25 | 0.5% | 2.3% | ||
| Q4 24 | — | 3.1% | ||
| Q3 24 | 1.1% | 3.1% | ||
| Q2 24 | 0.8% | 2.9% |
| Q1 26 | 1.57× | — | ||
| Q4 25 | 1.70× | 1.90× | ||
| Q3 25 | 1.24× | 1.01× | ||
| Q2 25 | 1.30× | 5.49× | ||
| Q1 25 | 1.37× | 4.33× | ||
| Q4 24 | — | 1.51× | ||
| Q3 24 | 1.20× | -0.92× | ||
| Q2 24 | 1.23× | 0.75× |
Financial Flow Comparison
Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.
Revenue Breakdown by Segment
ADBE
| Subscription Revenue | $6.2B | 97% |
| Service Other | $110.0M | 2% |
| Products | $90.0M | 1% |
OTEX
| Transferred At Point In Time | $184.2M | 14% |
| Cybersecurity Enterprise Product | $174.5M | 13% |
| Business Network Product | $159.8M | 12% |
| Business Network Cloud Services And Subscriptions | $151.4M | 11% |
| Content Cloud Services And Subscriptions | $137.9M | 10% |
| Cybersecurity SMB Consumer Product | $127.6M | 10% |
| Application Delivery Management Product | $120.1M | 9% |
| IT Operations Management Product | $113.3M | 9% |
| Professional Service And Other | $82.5M | 6% |
| Analytics Product | $58.1M | 4% |
| IT Operations Management Cloud Services And Subscriptions | $7.8M | 1% |
