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Adobe vs Block: ADBE and XYZ compared
Adobe is the larger company: $6.8B of revenue in its latest quarter (Q3 FY26) against $6.7B for Block (Q3 2026). Adobe is growing faster (+13% against +10% a year earlier). Adobe is more profitable, with an operating margin of 34.8% against 6.4%.
Where the money goes: ADBE and XYZ
Adobe (ADBE) · Q3 FY26
Adobe, Q3 FY26: revenue $6.8B (+13% year over year), operating margin 34.8%, net earnings $1.8B, operating cash flow $2.5B. The chart follows the revenue to costs, profit and cash.
Block (XYZ) · Q3 2026
Block, Q3 2026: revenue $6.7B (+10% year over year), operating margin 6.4%, net earnings $564M, operating cash flow $1.0B. The chart follows the revenue to costs, profit and cash.
| Adobe (ADBE) | Block (XYZ) | |
|---|---|---|
| Latest quarter | Q3 FY26 | Q3 2026 |
| Revenue | $6.8B | $6.7B |
| Revenue growth, Y/Y | +13% | +10% |
| Gross margin | 88.7% | 48.1% |
| Operating margin | 34.8% | 6.4% |
| Net earnings | $1.8B | $564M |
| Net margin | 27.0% | 8.4% |
| Operating cash flow | $2.5B | $1.0B |
| Free cash flow | $2.4B | $972M |
| Market value | $97.5B | $51.7B |
| P/E | 13.8× | 113.6× |
| Analysts’ mean target | $267.00 | $100.34 |
Where the revenue comes from
Adobe
- Subscription: $6.6B (97%)
- Services and other: $111M (2%)
- Product: $67.0M (1%)
Block
- Commerce enablement revenue: $3.5B (52%)
- Bitcoin ecosystem revenue: $1.8B (27%)
- Financial solutions revenue: $1.4B (21%)
Questions
Which is bigger, Adobe or Block?
Adobe is the larger company: $6.8B of revenue in its latest quarter (Q3 FY26) against $6.7B for Block (Q3 2026).
Is Adobe or Block growing faster?
Adobe is growing faster (+13% against +10% a year earlier).
Which is more profitable, Adobe or Block?
Adobe is more profitable, with an operating margin of 34.8% against 6.4%.
More: Adobe earnings · how Adobe makes money · Block earnings · how Block makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Sep 22, 2026; 10-Q filed Nov 3, 2026). Fiscal quarters can end on different dates. Not investment advice.