Just saying a yes or a no doesn't make sense because each CMS has its own features that would be beneficial for different Businesses based on their requirements.
I am putting here a comparison of WordPress with the two other most popular CMSs, i.e., Joomla & Drupal.
WordPress vs Joomla
Although Joomla has a number of components, modules, and plugins to offer, it gets overshadowed by WordPress for the following reasons:
Problems can be fixed faster and more consistently in WordPress than in Joomla. This way, WordPress does not just save our time, but also lowers the cost and improves the performance.
Since Google is more compatible with blogs and Google content, users take up WordPress to host their blogs on. This is because blogging becomes really difficult in Joomla if you do not have a good content creation kit or custom field system.
A website can be created very fast on WordPress, compared to the speed offered by Joomla. Moreover, unlike in Joomla, you do not have to deal with conflicting plugins in WordPress.
WordPress evolves a lot. But unlike Joomla, WordPress does not charge its users for every 0.5 version update.
Build personal sites, blogs, portfolios and even e-commerce sites on WordPress. Manage easily, all by yourself on WordPress.
WordPress vs Drupal
WordPress has a certain edge over Drupal. Let us see how:
Drupal is much more complex than WordPress. While WordPress can be explored and enjoyed by anybody, it needs a severely experienced developer to operate on Drupal.
On WordPress, updating the software core, themes and plugins are much simpler, compared to Drupal. While it requires only a few clicks to update the software on WordPress, updating Drupal is again a task for technicians.
WordPress widgets are capable of entirely adapting to the cascading style sheets of your active theme, something that Drupal is not able to do.
Customizing your website with different free and premium themes is easier done on WordPress than on Drupal. Moreover, WordPress emanates a learning experience, while exploring Drupal is often risky and alarming.
Reading Suggestion: WordPress vs Drupal – What’s Best For Medium Size Businesses?