Adobe or Salesforce: which stock is cheaper in 2026?
As of October 5, 2026, Adobe (ADBE) trades at 13.3× earnings (P/E) and Salesforce (CRM) at 21.4×, according to Kaplio. The median across the 250 technology companies above $2bn in Kaplio's universe is 35.2×. Kaplio's verdict: Adobe, cheap; Salesforce, cheap. Value range by multiples: $630–$908 for Adobe and $385 for Salesforce. Against its own value range, Adobe is the cheaper of the two today.
According to the Kaplio Summary
The same verdict as each company's page: price range by multiples, the four lights, the expected return if consensus is right and what Buffett and Lynch would say today.
| Adobe (ADBE) | Salesforce (CRM) | |
|---|---|---|
| Summary valuation | cheap ($630–$908) | cheap ($385) |
| The four lights | Valuation: P/E 13.3× (cheap) Business: ROIC 37 % (excellent) Balance sheet: Net debt/EBITDA 0.1× (solid) Results: 8 of 8 (on track) | Valuation: P/E 21.4× (cheap) Business: ROIC 9 % (fair) Balance sheet: Net debt/EBITDA 0.7× (solid) Results: 7 of 8 (on track) |
| Expected return (per year) | — | — |
| Buffett method | quality 100 · approves | quality 75 · would not approve |
| Lynch method | stalwart · would wait | fast grower · would wait |
Metrics side by side
| Metric | Adobe (ADBE) | Salesforce (CRM) |
|---|---|---|
| Overview | ||
| Market Cap | $94.5B | $192B |
| Price | $237.69 | $234.69 |
| Valuation | ||
| P/E | 13.3× | 21.4× |
| P/B | 8.0× | 4.9× |
| P/S | 3.7× | 4.3× |
| EV/EBITDA | 9.5× | 14.3× |
| FCF Yield | 11.5 % | 7.9 % |
| Dividend Yield | 0.0 % | 0.7 % |
| Profitability | ||
| ROIC | 37.0 % | 9.0 % |
| ROE | 62.9 % | 20.2 % |
| Gross Margin | 89.1 % | 77.3 % |
| Operating Margin | 35.7 % | 21.4 % |
| Net Margin | 28.0 % | 22.0 % |
| Growth | ||
| Revenue 5Y CAGR | 13.1 % | 14.3 % |
| EPS 5Y CAGR | 8.9 % | 11.9 % |
| FCF 5Y CAGR | 13.2 % | 28.6 % |
| Balance Sheet | ||
| Net Debt / EBITDA | 0.1× | 0.7× |
| Debt / Equity | 0.6× | 1.1× |
Trailing twelve months where available; otherwise the latest fiscal year. Growth: five-year compound annual rate.