Salesforce vs SAP
Salesforce and SAP are similar in size: $41.52bn and $41.61bn of revenue in their latest fiscal years. SAP grew faster (12.5% against 9.6%). SAP kept more of each dollar of sales as profit: a net margin of 19.5% against 18.0%. SAP carries less debt relative to equity (13.8% against 24.4%).
| Latest fiscal year | SalesforceCRM, 2026 | SAPSAP, 2025 |
|---|---|---|
| Revenue | $41.52bn | $41.61bn |
| Revenue growth | 9.6% | 12.5% |
| Net income | $7.46bn | $8.10bn |
| Operating margin | 20.1% | 26.1% |
| Net margin | 18.0% | 19.5% |
| Return on equity | 12.4% | 16.3% |
| Free cash flow | $14.40bn | — |
| Cash | $7.33bn | $9.65bn |
| Total debt | $14.44bn | $7.22bn |
| Debt to equity | 24.4% | 13.8% |
| Dividend per share | — | — |
| Dividend yield | 0.7% | — |
| Share buybacks | $12.60bn | $2.19bn |
| Employees | 83,334 | — |
| Market value | $206.36bn | $271.78bn |
| Price vs our value range | Within our value range | — |
| Moat score | 49 (Moderate) | — |
| Insider trades, 12 months | 6 buys, 13 sales | 0 buys, 0 sales |