ADOBE INC. vs CLOUDFLARE, INC., two Software stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Where ADBE and NET diverge most: on operating margin, ADBE reads 33.8% and NET reads -9.7%; on net margin, ADBE reads 28.7% and NET reads -3.7%. The rest of the comparable metrics sit closer together. What ADBE's price implies is a bet that sits within the historical range (whole-company basis). What NET's price implies is a somewhat stretched bet versus history (revenue-multiple basis). The bull and bear cases for each are in their full reports below.
| Metric | ADBE | NET |
|---|---|---|
| Price | $225.11 | $262.22 |
| Market cap | $90.6B | $92.5B |
| Sector | Software | Software |
| Stage | Mature | Growth |
| Implied growth (priced in) | +1.8% | — |
| P/E | 12.9 | — |
| P/B | 7.87 | 60.57 |
| P/S | 3.60 | 39.71 |
| EV/EBITDA | 9.9 | 4234.7 |
| Revenue growth | +11.5% | +31.4% |
| Gross margin | 89.2% | 71.2% |
| Operating margin | 33.8% | -9.7% |
| Net margin | 28.7% | -3.7% |
| Return on equity | 62.8% | -5.7% |
| Return on assets | 24.1% | -1.4% |
| Return on invested capital | 38.3% | -4.1% |
| FCF yield | 11.3% | 0.3% |
| Debt / equity | 0.58 | 1.29 |
| Current ratio | 0.75 | 1.96 |
| Altman Z (solvency) | 6.20 | 6.51 |
| Piotroski F (quality) | 7 / 9 | 5 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.