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

Adobe brought in $23.8B of revenue in fiscal 2025, Block $24.2B in fiscal 2025. Revenue changed by +10.5% at Adobe and +0.3% at Block on the year before, so Adobe grew faster. Adobe kept 30.0% of its revenue as net profit, Block 5.4%. Free cash flow was $9.9B at Adobe and $2.4B at Block.

Side by side, latest fiscal year

ADBEXYZ
Fiscal year endedFY2025 (November 28, 2025)FY2025 (December 31, 2025)
Revenue$23.8B$24.2B
Revenue growth+10.5%+0.3%
Net income$7.1B$1.3B
Net margin30.0%5.4%
Free cash flow$9.9B$2.4B
Free cash flow margin41.4%10.0%
Earnings per share (diluted)$16.70$2.10
Cash$5.4B$6.6B
Debt$6.2B$7.3B
Price to earnings13.835.5
Market value$91.8B$44.8B
Dividend yieldn/an/a
Rank by revenue in sector#31 of 731 · Technology#30 of 731 · 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: $23.8BXYZ FY2018: $3.3BXYZ FY2019: $4.7BXYZ FY2020: $9.5BXYZ FY2021: $17.7BXYZ FY2022: $17.5BXYZ FY2023: $21.9BXYZ FY2024: $24.1BXYZ FY2025: $24.2BFY18FY19FY20FY21FY22FY23FY24FY25
ADBE $23.8BXYZ $24.2B
Net income
ADBE FY2018: $2.6BADBE FY2019: $3BADBE FY2020: $5.3BADBE FY2021: $4.8BADBE FY2022: $4.8BADBE FY2023: $5.4BADBE FY2024: $5.6BADBE FY2025: $7.1BXYZ FY2018: -$38.5MXYZ FY2019: $375.4MXYZ FY2020: $213.1MXYZ FY2021: $166.3MXYZ FY2022: -$540.7MXYZ FY2023: $9.8MXYZ FY2024: $2.9BXYZ FY2025: $1.3BFY18FY19FY20FY21FY22FY23FY24FY25
ADBE $7.1BXYZ $1.3B
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%XYZ FY2018: -1.2%XYZ FY2019: 8.0%XYZ FY2020: 2.2%XYZ FY2021: 0.9%XYZ FY2022: -3.1%XYZ FY2023: 0.0%XYZ FY2024: 12.0%XYZ FY2025: 5.4%FY18FY19FY20FY21FY22FY23FY24FY25
ADBE 30.0%XYZ 5.4%
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%XYZ FY2019: +42.9%XYZ FY2020: +101.5%XYZ FY2021: +86.0%XYZ FY2022: -0.7%XYZ FY2023: +25.0%XYZ FY2024: +10.1%XYZ FY2025: +0.3%FY19FY20FY21FY22FY23FY24FY25
ADBE +10.5%XYZ +0.3%
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: $9.9BXYZ FY2018: $233.9MXYZ FY2019: $265.1MXYZ FY2020: $34.7MXYZ FY2021: $713.5MXYZ FY2022: $5.1MXYZ FY2023: -$50.2MXYZ FY2024: $1.6BXYZ FY2025: $2.4BFY18FY19FY20FY21FY22FY23FY24FY25
ADBE $9.9BXYZ $2.4B

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

Questions about Adobe and Block

Which is bigger by revenue, Adobe or Block?

Block is bigger by revenue: $24.2B in fiscal 2025, against $23.8B for Adobe in fiscal 2025.

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

Adobe had a net margin of 30.0% in fiscal 2025; Block had 5.4% in fiscal 2025.

Which grew revenue faster, Adobe or Block?

In their latest fiscal years revenue changed by +10.5% at Adobe and +0.3% at Block.

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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