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Adobe vs Microsoft: revenue, profit, margins and growth compared

Adobe brought in $23.8B of revenue in fiscal 2025, Microsoft $331.8B in fiscal 2026. Revenue changed by +10.5% at Adobe and +17.8% at Microsoft on the year before, so Microsoft grew faster. Adobe kept 30.0% of its revenue as net profit, Microsoft 40.3%. Free cash flow was $9.9B at Adobe and $67B at Microsoft.

Side by side, latest fiscal year

ADBEMSFT
Fiscal year endedFY2025 (November 28, 2025)FY2026 (June 30, 2026)
Revenue$23.8B$331.8B
Revenue growth+10.5%+17.8%
Net income$7.1B$133.7B
Net margin30.0%40.3%
Free cash flow$9.9B$67B
Free cash flow margin41.4%20.2%
Earnings per share (diluted)$16.70$17.95
Cash$5.4B$20.9B
Debt$6.2B$40.3B
Price to earnings14.128.8
Market value$93.6B$3.83T
Dividend yieldn/a0.71%
Rank by revenue in sector#30 of 530 · Technology#3 of 530 · Technology

Over the years

Revenue
ADBE FY2018: $9BADBE FY2019: $11.2BADBE FY2020: $12.9BADBE FY2021: $15.8BADBE FY2022: $17.6BADBE FY2023: $19.4BADBE FY2024: $21.5BADBE FY2025: $23.8BMSFT FY2019: $125.8BMSFT FY2020: $143BMSFT FY2021: $168.1BMSFT FY2022: $198.3BMSFT FY2023: $211.9BMSFT FY2024: $245.1BMSFT FY2025: $281.7BMSFT FY2026: $331.8BFY18FY19FY20FY21FY22FY23FY24FY25FY26
ADBE $23.8BMSFT $331.8B
Net income
ADBE FY2018: $2.6BADBE FY2019: $3BADBE FY2020: $5.3BADBE FY2021: $4.8BADBE FY2022: $4.8BADBE FY2023: $5.4BADBE FY2024: $5.6BADBE FY2025: $7.1BMSFT FY2019: $39.2BMSFT FY2020: $44.3BMSFT FY2021: $61.3BMSFT FY2022: $72.7BMSFT FY2023: $72.4BMSFT FY2024: $88.1BMSFT FY2025: $101.8BMSFT FY2026: $133.7BFY18FY19FY20FY21FY22FY23FY24FY25FY26
ADBE $7.1BMSFT $133.7B
Net margin
ADBE FY2018: 28.7%ADBE FY2019: 26.4%ADBE FY2020: 40.9%ADBE FY2021: 30.5%ADBE FY2022: 27.0%ADBE FY2023: 28.0%ADBE FY2024: 25.9%ADBE FY2025: 30.0%MSFT FY2019: 31.2%MSFT FY2020: 31.0%MSFT FY2021: 36.5%MSFT FY2022: 36.7%MSFT FY2023: 34.1%MSFT FY2024: 36.0%MSFT FY2025: 36.1%MSFT FY2026: 40.3%FY18FY19FY20FY21FY22FY23FY24FY25FY26
ADBE 30.0%MSFT 40.3%
Revenue growth
ADBE FY2019: +23.7%ADBE FY2020: +15.2%ADBE FY2021: +22.7%ADBE FY2022: +11.5%ADBE FY2023: +10.2%ADBE FY2024: +10.8%ADBE FY2025: +10.5%MSFT FY2020: +13.6%MSFT FY2021: +17.5%MSFT FY2022: +18.0%MSFT FY2023: +6.9%MSFT FY2024: +15.7%MSFT FY2025: +14.9%MSFT FY2026: +17.8%FY19FY20FY21FY22FY23FY24FY25FY26
ADBE +10.5%MSFT +17.8%
Free cash flow
ADBE FY2018: $3.8BADBE FY2019: $4BADBE FY2020: $5.3BADBE FY2021: $6.9BADBE FY2022: $7.4BADBE FY2023: $6.9BADBE FY2024: $7.9BADBE FY2025: $9.9BMSFT FY2019: $38.3BMSFT FY2020: $45.2BMSFT FY2021: $56.1BMSFT FY2022: $65.1BMSFT FY2023: $59.5BMSFT FY2024: $74.1BMSFT FY2025: $71.6BMSFT FY2026: $67BFY18FY19FY20FY21FY22FY23FY24FY25FY26
ADBE $9.9BMSFT $67B

Fiscal years as each company reports them; the two may end in different months.

Questions about Adobe and Microsoft

Which is bigger by revenue, Adobe or Microsoft?

Microsoft is bigger by revenue: $331.8B in fiscal 2026, against $23.8B for Adobe in fiscal 2025.

Which keeps more of its revenue as profit, Adobe or Microsoft?

Adobe had a net margin of 30.0% in fiscal 2025; Microsoft had 40.3% in fiscal 2026.

Which grew revenue faster, Adobe or Microsoft?

In their latest fiscal years revenue changed by +10.5% at Adobe and +17.8% at Microsoft.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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