VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

Adobe Inc. vs Salesforce, Inc.

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Adobe Inc.

ADBE · NASDAQ

Market cap (USD)$112.3B
Gross margin (TTM)89.1%
Operating margin (TTM)36.6%
Net margin (TTM)30%
SectorTechnology
IndustrySoftware - Infrastructure
CountryUS
Data as of2025-12-22
Moat score
68/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Adobe Inc.'s moat claims, evidence, and risks.

View ADBE analysis

Salesforce, Inc.

CRM · New York Stock Exchange

Market cap (USD)$182.2B
Gross margin (TTM)77.7%
Operating margin (TTM)20.5%
Net margin (TTM)17.9%
SectorTechnology
IndustrySoftware - Application
CountryUS
Data as of2025-12-22
Moat score
70/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Salesforce, Inc.'s moat claims, evidence, and risks.

View CRM analysis

Comparison highlights

  • Moat score gap: Salesforce, Inc. leads (70 / 100 vs 68 / 100 for Adobe Inc.).
  • Segment focus: Adobe Inc. has 3 segments (74.3% in Digital Media); Salesforce, Inc. has 3 segments (78.9% in CRM Applications Suite (Sales, Service, Platform, Marketing & Commerce)).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Adobe Inc. has 4 moat types across 2 domains; Salesforce, Inc. has 6 across 2.

Primary market context

Adobe Inc.

Digital Media

Market

Creative content creation and document productivity software subscriptions

Geography

Global

Customer

Individuals, SMB, enterprise

Role

Software platform

Revenue share

74.3%

Salesforce, Inc.

CRM Applications Suite (Sales, Service, Platform, Marketing & Commerce)

Market

CRM applications (sales, customer service, marketing, digital commerce) delivered as SaaS

Geography

Global

Customer

Business (SMB to enterprise)

Role

SaaS application & platform vendor

Revenue share

78.9%

Side-by-side metrics

Adobe Inc.
Salesforce, Inc.
Ticker / Exchange
ADBE - NASDAQ
CRM - New York Stock Exchange
Market cap (USD)
$112.3B
$182.2B
Gross margin (TTM)
89.1%
77.7%
Operating margin (TTM)
36.6%
20.5%
Net margin (TTM)
30%
17.9%
Sector
Technology
Technology
Industry
Software - Infrastructure
Software - Application
HQ country
US
US
Primary segment
Digital Media
CRM Applications Suite (Sales, Service, Platform, Marketing & Commerce)
Market structure
Oligopoly
Oligopoly
Market share
n/a
20.7% (reported)
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
68 / 100
70 / 100
Moat domains
Demand, Network
Demand, Network
Last update
2025-12-22
2025-12-22

Moat coverage

Shared moat types

Suite BundlingEcosystem ComplementsData Workflow Lockin

Adobe Inc. strengths

De Facto Standard

Salesforce, Inc. strengths

Long Term ContractsInteroperability HubTraining Org Change Costs

Segment mix

Adobe Inc. segments

Full profile >

Digital Media

Oligopoly

74.3%

Digital Experience

Competitive

24.7%

Publishing and Advertising

Competitive

1.1%

Salesforce, Inc. segments

Full profile >

CRM Applications Suite (Sales, Service, Platform, Marketing & Commerce)

Oligopoly

78.9%

Integration & Analytics (MuleSoft, Tableau, related subscriptions)

Competitive

15.2%

Professional Services & Other

Competitive

5.8%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.