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Side-by-side financial comparison of Adobe Inc. (ADBE) and Workday, Inc. (WDAY). Click either name above to swap in a different company.
Adobe Inc. is the larger business by last-quarter revenue ($6.4B vs $2.4B, roughly 2.6× Workday, Inc.). Adobe Inc. runs the higher net margin — 29.5% vs 10.4%, a 19.2% gap on every dollar of revenue. On growth, Workday, Inc. posted the faster year-over-year revenue change (12.6% vs 12.0%). Adobe Inc. produced more free cash flow last quarter ($2.9B vs $550.0M). Over the past eight quarters, Workday, Inc.'s revenue compounded faster (12.5% 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.
Workday, Inc. is a leading global enterprise cloud software provider that develops and distributes human capital management, financial management, and enterprise resource planning solutions. It caters primarily to mid-sized and large organizations across sectors including education, healthcare, finance, and technology, with operations spanning North America, Europe, and Asia Pacific.
ADBE vs WDAY — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $6.4B | $2.4B |
| Net Profit | $1.9B | $252.0M |
| Gross Margin | 89.6% | — |
| Operating Margin | 37.8% | 10.6% |
| Net Margin | 29.5% | 10.4% |
| Revenue YoY | 12.0% | 12.6% |
| Net Profit YoY | 4.3% | 30.6% |
| EPS (diluted) | $4.60 | $0.94 |
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 | $2.4B | ||
| Q3 25 | $6.0B | $2.3B | ||
| Q2 25 | $5.9B | $2.2B | ||
| Q1 25 | $5.7B | $2.2B | ||
| Q4 24 | $5.6B | $2.2B | ||
| Q3 24 | $5.4B | $2.1B | ||
| Q2 24 | $5.3B | $2.0B |
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.9B | $252.0M | ||
| Q3 25 | $1.8B | $228.0M | ||
| Q2 25 | $1.7B | $68.0M | ||
| Q1 25 | $1.8B | $94.0M | ||
| Q4 24 | $1.7B | $193.0M | ||
| Q3 24 | $1.7B | $132.0M | ||
| Q2 24 | $1.6B | $107.0M |
| Q1 26 | 89.6% | — | ||
| Q4 25 | 89.5% | — | ||
| Q3 25 | 89.3% | — | ||
| Q2 25 | 89.1% | — | ||
| Q1 25 | 89.1% | — | ||
| Q4 24 | 89.0% | — | ||
| Q3 24 | 89.8% | — | ||
| Q2 24 | 88.7% | — |
| Q1 26 | 37.8% | — | ||
| Q4 25 | 36.5% | 10.6% | ||
| Q3 25 | 36.3% | 10.6% | ||
| Q2 25 | 35.9% | 1.7% | ||
| Q1 25 | 37.9% | 3.4% | ||
| Q4 24 | 34.9% | 7.6% | ||
| Q3 24 | 36.8% | 5.3% | ||
| Q2 24 | 35.5% | 3.2% |
| Q1 26 | 29.5% | — | ||
| Q4 25 | 30.0% | 10.4% | ||
| Q3 25 | 29.6% | 9.7% | ||
| Q2 25 | 28.8% | 3.0% | ||
| Q1 25 | 31.7% | 4.3% | ||
| Q4 24 | 30.0% | 8.9% | ||
| Q3 24 | 31.1% | 6.3% | ||
| Q2 24 | 29.6% | 5.4% |
| Q1 26 | $4.60 | — | ||
| Q4 25 | $4.44 | $0.94 | ||
| Q3 25 | $4.18 | $0.84 | ||
| Q2 25 | $3.94 | $0.25 | ||
| Q1 25 | $4.14 | $0.34 | ||
| Q4 24 | $3.75 | $0.72 | ||
| Q3 24 | $3.76 | $0.49 | ||
| Q2 24 | $3.49 | $0.40 |
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 | $6.8B |
| Total DebtLower is stronger | $5.4B | — |
| Stockholders' EquityBook value | $11.4B | $8.9B |
| Total Assets | $29.7B | $17.8B |
| Debt / EquityLower = less leverage | 0.47× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $6.9B | — | ||
| Q4 25 | $6.6B | $6.8B | ||
| Q3 25 | $5.9B | $8.2B | ||
| Q2 25 | $5.7B | $8.0B | ||
| Q1 25 | $7.4B | $8.0B | ||
| Q4 24 | $7.9B | $7.2B | ||
| Q3 24 | $7.5B | $7.4B | ||
| Q2 24 | $8.1B | $7.2B |
| 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 | $3.0B |
| Q1 26 | $11.4B | — | ||
| Q4 25 | $11.6B | $8.9B | ||
| Q3 25 | $11.8B | $9.2B | ||
| Q2 25 | $11.4B | $8.9B | ||
| Q1 25 | $13.1B | $9.0B | ||
| Q4 24 | $14.1B | $8.6B | ||
| Q3 24 | $14.5B | $8.3B | ||
| Q2 24 | $14.8B | $8.2B |
| Q1 26 | $29.7B | — | ||
| Q4 25 | $29.5B | $17.8B | ||
| Q3 25 | $28.8B | $18.0B | ||
| Q2 25 | $28.1B | $17.2B | ||
| Q1 25 | $30.0B | $18.0B | ||
| Q4 24 | $30.2B | $16.4B | ||
| Q3 24 | $29.8B | $16.2B | ||
| Q2 24 | $30.0B | $15.9B |
| 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× | 0.37× |
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 | $588.0M |
| Free Cash FlowOCF − Capex | $2.9B | $550.0M |
| FCF MarginFCF / Revenue | 45.7% | 22.6% |
| Capex IntensityCapex / Revenue | 0.6% | 1.6% |
| Cash ConversionOCF / Net Profit | 1.57× | 2.33× |
| TTM Free Cash FlowTrailing 4 quarters | $10.3B | $2.6B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $3.0B | — | ||
| Q4 25 | $3.2B | $588.0M | ||
| Q3 25 | $2.2B | $616.0M | ||
| Q2 25 | $2.2B | $457.0M | ||
| Q1 25 | $2.5B | $1.1B | ||
| Q4 24 | — | $406.0M | ||
| Q3 24 | $2.0B | $571.0M | ||
| Q2 24 | $1.9B | $372.0M |
| Q1 26 | $2.9B | — | ||
| Q4 25 | $3.1B | $550.0M | ||
| Q3 25 | $2.1B | $588.0M | ||
| Q2 25 | $2.1B | $421.0M | ||
| Q1 25 | $2.5B | $1.0B | ||
| Q4 24 | — | $359.0M | ||
| Q3 24 | $2.0B | $516.0M | ||
| Q2 24 | $1.9B | $291.0M |
| Q1 26 | 45.7% | — | ||
| Q4 25 | 50.5% | 22.6% | ||
| Q3 25 | 35.5% | 25.0% | ||
| Q2 25 | 36.5% | 18.8% | ||
| Q1 25 | 43.0% | 46.4% | ||
| Q4 24 | — | 16.6% | ||
| Q3 24 | 36.3% | 24.7% | ||
| Q2 24 | 35.8% | 14.6% |
| Q1 26 | 0.6% | — | ||
| Q4 25 | 0.5% | 1.6% | ||
| Q3 25 | 1.2% | 1.2% | ||
| Q2 25 | 0.8% | 1.6% | ||
| Q1 25 | 0.5% | 3.9% | ||
| Q4 24 | — | 2.2% | ||
| Q3 24 | 1.1% | 2.6% | ||
| Q2 24 | 0.8% | 4.1% |
| Q1 26 | 1.57× | — | ||
| Q4 25 | 1.70× | 2.33× | ||
| Q3 25 | 1.24× | 2.70× | ||
| Q2 25 | 1.30× | 6.72× | ||
| Q1 25 | 1.37× | 11.83× | ||
| Q4 24 | — | 2.10× | ||
| Q3 24 | 1.20× | 4.33× | ||
| Q2 24 | 1.23× | 3.48× |
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% |
WDAY
| Subscription Services | $2.2B | 92% |
| Professional Services | $188.0M | 8% |
