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奥多比（ADBE）与Workday, Inc.（WDAY）财务数据对比。点击上方公司名可切换其他公司
奥多比的季度营收约是Workday, Inc.的2.6倍（$6.4B vs $2.4B），奥多比净利率更高（29.5% vs 10.4%，领先19.2%），Workday, Inc.同比增速更快（12.6% vs 12.0%），奥多比自由现金流更多（$2.9B vs $550.0M），过去两年Workday, Inc.的营收复合增速更高（12.5% vs 9.8%）
奥多比（Adobe Inc.）前身为奥多比系统公司，是总部位于美国加利福尼亚州圣何塞的跨国计算机软件企业。旗下产品覆盖网页设计、图像处理、矢量创作、音视频编辑、移动应用开发、印刷排版、动画制作等多个领域，是全球领先的数字创意软件服务商。
Workday是全球领先的企业级云软件供应商，核心产品覆盖人力资本管理、财务管理及企业资源规划解决方案，主要服务教育、医疗、金融、科技等行业的中大型机构，业务遍布北美、欧洲、亚太等全球主要市场。
ADBE vs WDAY — 直观对比
营收规模更大
ADBE
是对方的2.6倍
$2.4B
营收增速更快
WDAY
高出0.6%
12.0%
净利率更高
ADBE
高出19.2%
10.4%
自由现金流更多
ADBE
多$2.4B
$550.0M
两年增速更快
WDAY
近两年复合增速
9.8%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $6.4B | $2.4B |
| 净利润 | $1.9B | $252.0M |
| 毛利率 | 89.6% | — |
| 营业利润率 | 37.8% | 10.6% |
| 净利率 | 29.5% | 10.4% |
| 营收同比 | 12.0% | 12.6% |
| 净利润同比 | 4.3% | 30.6% |
| 每股收益（稀释后） | $4.60 | $0.94 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收ADBEWDAY
| 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 |
净利润ADBEWDAY
| 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 |
毛利率ADBEWDAY
| 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% | — |
营业利润率ADBEWDAY
| 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% |
净利率ADBEWDAY
| 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% |
每股收益（稀释后）ADBEWDAY
| 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 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $6.9B | $6.8B |
| 总债务越低越好 | $5.4B | — |
| 股东权益账面价值 | $11.4B | $8.9B |
| 总资产 | $29.7B | $17.8B |
| 负债/权益比越低杠杆越低 | 0.47× | — |
8季度趋势，按日历期对齐
现金及短期投资ADBEWDAY
| 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 |
总债务ADBEWDAY
| 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 |
股东权益ADBEWDAY
| 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 |
总资产ADBEWDAY
| 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 |
负债/权益比ADBEWDAY
| 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× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $3.0B | $588.0M |
| 自由现金流经营现金流 - 资本支出 | $2.9B | $550.0M |
| 自由现金流率自由现金流/营收 | 45.7% | 22.6% |
| 资本支出强度资本支出/营收 | 0.6% | 1.6% |
| 现金转化率经营现金流/净利润 | 1.57× | 2.33× |
| 过去12个月自由现金流最近4个季度 | $10.3B | $2.6B |
8季度趋势，按日历期对齐
经营现金流ADBEWDAY
| 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 |
自由现金流ADBEWDAY
| 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 |
自由现金流率ADBEWDAY
| 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% |
资本支出强度ADBEWDAY
| 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% |
现金转化率ADBEWDAY
| 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× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
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% |
