ADBE vs SHOP
Adobe Inc. and Shopify Inc., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | ADBE | SHOP |
|---|---|---|
| Revenue | $23.8B | $11.6B |
| Net income | $7.1B | $1.2B |
| Gross margin | 89.3% | 48.1% |
| Net margin | 30.0% | 10.7% |
| Return on equity | 55.4% | 9.8% |
| Diluted EPS | $16.70 | $0.94 |
| Dividend / share | · | · |
| Payout ratio | · | · |
| Free cash flow | $9.9B | $2.0B |
| Equity | $11.6B | $13.5B |
| Net debt / equity | 0.07× | · |
| Current ratio | 1.00× | 5.96× |
| Revenue CAGR 5y | 13.1% | 31.6% |
| Profit CAGR 5y | 6.3% | 31.0% |
ADBE bills 2.1× the revenue of SHOP, and keeps more of each dollar of revenue as profit (30.0% against 10.7%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | ADBE | SHOP |
|---|---|---|
| FY2025 | $23.8B | $11.6B |
| FY2024 | $21.5B | $8.9B |
| FY2023 | $19.4B | $7.1B |
| FY2022 | $17.6B | $5.6B |
| FY2021 | $15.8B | $4.6B |
| FY2020 | $12.9B | $2.9B |
| FY2019 | $11.2B | $1.6B |
| FY2018 | $9.0B | $1.1B |
| FY2017 | $7.3B | $673.3M |
| FY2016 | $5.9B | $389.3M |
Bottom line
| Fiscal year | ADBE | SHOP |
|---|---|---|
| FY2025 | $7.1B | $1.2B |
| FY2024 | $5.6B | $2.0B |
| FY2023 | $5.4B | $132.0M |
| FY2022 | $4.8B | $-3.5B |
| FY2021 | $4.8B | $2.9B |
| FY2020 | $5.3B | $319.5M |
| FY2019 | $3.0B | $-124.8M |
| FY2018 | $2.6B | $-64.6M |
| FY2017 | $1.7B | $-40.0M |
| FY2016 | $1.2B | $-35.4M |
13 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +$12,213,000,000 | ADBE |
| FY2024 | +$12,625,000,000 | ADBE |
| FY2023 | +$12,349,000,000 | ADBE |
| FY2022 | +$12,006,000,000 | ADBE |
| FY2021 | +$11,173,144,000 | ADBE |
| FY2020 | +$9,938,509,000 | ADBE |
| FY2019 | +$9,592,827,000 | ADBE |
| FY2018 | +$7,956,771,000 | ADBE |
| FY2017 | +$6,628,201,000 | ADBE |
| FY2016 | +$5,465,100,000 | ADBE |
| FY2015 | +$4,590,278,000 | ADBE |
| FY2014 | +$4,042,047,000 | ADBE |
| FY2013 | +$4,004,988,000 | ADBE |
ADBE has reported the higher revenue in every one of these 13 fiscal years. The gap has widened since the earliest year compared.
13 of 19 comparable fiscal years — a year missing data on either side is not counted.
13 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +19.3 pp | ADBE |
| FY2024 | +3.1 pp | ADBE |
| FY2023 | +26.1 pp | ADBE |
| FY2022 | +88.8 pp | ADBE |
| FY2021 | −32.7 pp | SHOP |
| FY2020 | +30.0 pp | ADBE |
| FY2019 | +34.3 pp | ADBE |
| FY2018 | +34.7 pp | ADBE |
| FY2017 | +29.1 pp | ADBE |
| FY2016 | +29.0 pp | ADBE |
| FY2015 | +22.3 pp | ADBE |
| FY2014 | +27.7 pp | ADBE |
| FY2013 | +16.8 pp | ADBE |
The higher net margin has changed hands between ADBE and SHOP over this period.
13 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
SHOP's net margin has been more volatile than ADBE's over the 13 comparable fiscal years — 26.9 percentage points of standard deviation against 9.4.
13 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between ADBE and SHOP over these 13 fiscal years — ADBE led in 12 and SHOP in 1.
13 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
SHOP's return on equity has been more volatile than ADBE's over the 13 comparable fiscal years — 17.7 percentage points of standard deviation against 14.9.
13 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
ADBE led in return on equity in every one of the 13 comparable fiscal years — a structural lead, not a recent swing.
13 of 19 comparable fiscal years — a year missing data on either side is not counted.