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Salesforce (CRM) stock

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NYSE: CRM NYSE Application Software Next results ~December 2, 2026

B Fundamentals grade

Salesforce, founded in 1999, provides customer relationship management (CRM) software delivered mainly as cloud-based, multi-tenant subscription services. Its offerings are unified under the AI-powered Agentforce 360 Platform and span sales, service, marketing and commerce, alongside Data 360 (its data engine), the Slack collaboration tool, MuleSoft for integration, Tableau for analytics, and Agentforce, which lets customers build and deploy autonomous AI agents. It also sells industry-specific versions and Starter Suite for smaller firms. The acquisition of the data-management business Informatica closed in the fourth quarter of fiscal 2026.

Customers are businesses of all sizes across almost every industry worldwide, with paid subscriptions per customer ranging from one to hundreds of thousands. Revenue comes chiefly from subscriptions, sold through a direct sales force and, to a lesser extent, referral partners paid a fee on first-year subscription revenue. Third-party developers can build and sell applications via its AppExchange marketplace.

No single customer accounted for more than ten percent of revenue in fiscal 2026. The company operates globally and employed 83,334 people as of 31 January 2026.

Based on Salesforce's 10-K filed March 2, 2026.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$290

Cash-flow model

Base case. Range ~$210–$400 across our lower- and higher-growth cases (5.6%–15.6% a year).

Price vs value

Modestly undervalued

The price is inside our value range, 23% below our base value.

Price used: $226.18, November 2, 2026

Salesforce valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Salesforce files

Where Salesforce stands after its latest 10-Q

Revenue for the twelve months to July 2026 was $43.9bn, up 11.2% on a year earlier, about the same pace as a quarter earlier. Free-cash-flow margin rose to 34.5% from 31.6% a year earlier. The diluted share count is down 7.4% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 2 of our 7 financial-health checks. Our cash-flow model value is $316 a share, against a share price of $241. At that price, our model says the market is pricing in about 6.5% a year of cash-flow growth for five years, slower than the 10.6% a year revenue growth it has delivered.

Source: 10-Q filed August 27, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~December 2, 2026 (estimated)

Salesforce's trailing-twelve-month revenue grew 11.2% year on year, with a free-cash-flow margin of 34.5%. Where it stands out: change in share count of -7.4% ranks 3 of 163 application software companies we cover.

Our discounted-cash-flow model values the business at ~$290 per share in the base case (~$210–$400 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 21.3% while net income grew 45.0%: a 24pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $226.18 is 29% below our value per share of $290.
  • Strong cash generation. 34.5% of revenue turned into free cash flow, against a median of 15.2% for application software companies we cover.
  • Shrinking share count. Diluted shares fell 7.4% in a year, so each share owns more of the business.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Volatile shares. Over the past year the shares showed annualised volatility of 47% and a beta of 0.4 against the S&P 500.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 35.8% ranks 78 of 98 application software companies we cover (median 16.9%).
  • Earnings expected to fall. The consensus expects earnings per share to fall 4% next year.

Latest results: FY2027 Q2

Filed August 27, 2026
Earnings per share
$5.90 against an average estimate of $3.27: beat by 80.4%
Revenue
$11.35bn, up 10.8% on a year earlier
Share reaction
+22.5% in the first session after the results on August 26, 2026, against +0.7% for the S&P 500
Guidance given
revenue guidance $11.42bn to $11.5bn (third quarter FY27); current remaining performance obligation (cRPO) growth growth 14% (third quarter FY27)
Next report
December 2, 2026; average EPS estimate $3.45

Salesforce's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-1.3%
  • 1 week-8.7%
  • 1 month-3.6%
  • This year-14.0%
  • 1 year-12.4%
  • 5 years-23.9%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$43.9B
Operating margin
19.9%
Net margin
22.0%
EPS (TTM, diluted)
$10.78

Growth

Revenue growth
+11.2%
Change in growth rate
+0.2 pts
Share count change
−7.4%

Cash

Free cash flow (TTM)
$15.2B
FCF margin
34.5%
Stock pay % of revenue
8.3%

Earnings

Last results
August 26, 2026
Next results (est.)
December 2, 2026

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Deal

    Salesforce to buy Braze for $5.66bn

    Salesforce said it has agreed to acquire Braze for approximately $5.66 billion in enterprise value. Shareholders will receive $47.50 in cash per share. The deal is expected to close in fiscal year 2028, with no change to current guidance.

    Company releaseRead source ↗
  3. Announcement

    Salesforce to buy Braze for $5.66bn

    Salesforce said it has signed a definitive agreement to acquire Braze for approximately $5.66 billion in enterprise value. Braze shareholders will receive $47.50 in cash per share. The deal is expected to close in fiscal year 2028, subject to regulatory approvals.

    SEC 8-KRead source ↗
  4. Announcement
  5. Announcement
  6. Announcement
  7. Partnership
  8. Announcement
  9. Announcement
  10. Announcement
  11. Deal
  12. Leadership
  13. Insider trade
  14. Dividend
  15. Results
  16. Guidance
  17. Leadership

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Salesforce valuation models and calculator

What the price is pricing in

The share price implies about 5.7% a year of cash-flow growth for five years.That is close to the 10.6% a year revenue growth Salesforce has delivered.

  • Priced in5.7%
  • Last 12 months11.2%
  • 3 years a year9.9%
  • 5 years a year10.6%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($216.49, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$290
Price used
$216.49close November 3, 2026
Implied change
▲ +35%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Salesforce's free cash flow after stock-based pay with after-tax interest added back ($11.2B, FY2027 Q2 TTM), growing 10.5% and 10.2% in the next two years (forecasts, guidance and its record), then back to 10.6% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$210–~$400 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Salesforce's free cash flow after stock-based pay ( $11.2B, FY2027 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Salesforce as an operating company, with every model that fits that kind of business. Cost of equity 9.7%: the 10-year Treasury yield (4.9%) plus a beta of 1.05 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$290 ~$210–$400 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$220 ~$180–$370 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$37 ~$26–$54 Left out: out of range vs price (0.16x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$36 ~$31–$42 Left out: out of range vs price (0.16x)
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$270 ~$220–$290 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Salesforce with Application Software in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −26%
  • Revenue growth 5 points higher ▲ +34%
  • Free-cash-flow margin 1 point lower ▼ −3%
  • Last year's free-cash-flow margin change, if it persists ▲ +9%
  • Discount rate 1 point higher ▼ −16%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $143$205$288$396$537$720
8.5% $103$148$207$284$385$515
10% $78$113$158$218$295$393

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026Now
Share price$66.79$77.62$111.78$149.12$178.89$221.33$228.27$164.82$275.82$337.17$210.84$226.18
Market value$44.2bn$54.3bn$82.2bn$115.6bn$152.1bn$205.8bn$222.3bn$164.3bn$271.4bn$328.4bn$201.6bn$202.7bn
+ Net debt (− = net cash)−$1.2bn−$1.6bn−$2.5bn−$2.7bn−$4.1bn−$6.2bn−$5.5bn−$7.0bn−$8.5bn−$8.8bn−$7.3bn$31.2bn
Enterprise value$43.0bn$52.7bn$79.6bn$112.9bn$147.9bn$199.6bn$216.9bn$157.3bn$262.9bn$319.6bn$194.2bn$233.8bn
Multiples
Price / sales 6.6x6.5x7.8x8.7x8.9x9.7x8.4x5.2x7.8x8.7x4.9x4.6x
Price / earnings —168.2xn/m104.1xn/m50.6x154.0xn/m65.6x53.0x27.0x21.0x
Price / free cash flow 31.8x32.0x37.3x41.2x41.2x50.3x42.1x26.0x28.6x26.4x14.0x13.4x
EV / EBITDA 67.2x62.0x96.3x119.3x196.7x193.1x176.9x81.4x43.0x38.9x20.4x22.9x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

49 /100

Moderate moat

How hard Salesforce's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 14 / 20

    Cash operating profit has been a median 11.3% of total assets over 9 years.

  • Pricing power 20 / 20

    Gross margin has been a median 74.6%, moving by 1.6 percentage points (standard deviation) across 10 years.

  • Durability 1 / 20

    Operating margin has been a median 5.2%; its worst year was 0.3%.

  • Cash conversion 20 / 20

    Free cash flow was positive in 10 of 10 years, at a median 22.4% of revenue.

  • Discipline 9 / 20

    The diluted share count fell 5.1% over five years; stock-based pay has been a median 9.4% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (64 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: December 2, 2026, after the close. Analysts expect revenue of $11.5bn and EPS of $3.45 (range $3.39 to $3.85) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $16.75 +34% $46.3bn +12%
Next $16.02 −4% $50.8bn +10%

Next year's EPS estimate has moved +3.2% in 90 days, across 53 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +18.5% on 90 days ago. In the last 30 days, 6 analysts raised Salesforce's forecast and 0 cut it.

Consensus EPS forecast Salesforce, last 90 days
$14.00 $15.00 $16.00 $17.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $14.13 Current fiscal year, 60 days ago: $16.40 Current fiscal year, 30 days ago: $16.76 Current fiscal year, 7 days ago: $16.76 Current fiscal year, Now: $16.75 $16.75 Next fiscal year, 90 days ago: $15.51 Next fiscal year, 60 days ago: $15.82 Next fiscal year, 30 days ago: $16.01 Next fiscal year, 7 days ago: $16.02 Next fiscal year, Now: $16.02 $16.02

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $14.13$15.51
60 days ago $16.40$15.82
30 days ago $16.76$16.01
7 days ago $16.76$16.02
Now $16.75$16.02

Earnings against estimates

Quarter toEstimateActualSurprise
Jul 2026 $3.27 $5.90 +80.4%
Apr 2026 $3.13 $3.88 +24.1%
Jan 2026 $3.05 $3.81 +24.9%
Oct 2025 $2.86 $3.25 +13.6%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 26, 2026
  • revenue guidance full year FY27 $46.1bn to $46.4bn GAAP Raised
    “Raises full year FY27 revenue guidance, now expects full year FY27 revenue of $46.1 billion to $46.4 billion, up 11% - 12% Y/Y and 11% in CC, including slightly above 3pts Informatica contribution.” source
  • revenue guidance third quarter FY27 $11.42bn to $11.5bn GAAP New
    “Initiates third quarter FY27 revenue guidance of $11.42 billion to $11.5 billion, up 11% - 12% Y/Y and in CC, including slightly above 4pts Informatica contribution” source
  • GAAP diluted net income per share Full Year FY27 $10.21 to $10.25 GAAP
    “Diluted net income per share $10.21 - $10.25 $16.67 - $16.71” source
  • Non-GAAP diluted net income per share Full Year FY27 $16.67 to $16.71 Non-GAAP
    “Diluted net income per share $10.21 - $10.25 $16.67 - $16.71” source
  • GAAP diluted net income per share Q3 FY27 $1.81 to $1.83 GAAP
    “Diluted net income per share $1.81 - $1.83 $3.42 - $3.44” source
  • Non-GAAP diluted net income per share Q3 FY27 $3.42 to $3.44 Non-GAAP
    “Diluted net income per share $1.81 - $1.83 $3.42 - $3.44” source
Show 11 more items
  • GAAP operating margin guidance full year FY27 about 20.1% GAAP
    “Updates full year FY27 GAAP operating margin guidance to 20.1%, and maintains non-GAAP operating margin guidance of 34.3%” source
  • non-GAAP operating margin guidance full year FY27 about 34.3% Non-GAAP Maintained
    “Updates full year FY27 GAAP operating margin guidance to 20.1%, and maintains non-GAAP operating margin guidance of 34.3%” source
  • subscription and support revenue growth full year FY27 about 12% growth GAAP Raised
    “Raises full year FY27 subscription and support revenue growth guidance to slightly above 12% Y/Y and slightly under 12% in CC, including slightly above 3pts Informatica contribution” source
  • subscription and support revenue growth in constant currency full year FY27 about 12% growth Non-GAAP Raised
    “Raises full year FY27 subscription and support revenue growth guidance to slightly above 12% Y/Y and slightly under 12% in CC, including slightly above 3pts Informatica contribution” source
  • operating cash flow growth full year FY27 4% growth to 5% growth GAAP Maintained
    “Maintains full year FY27 operating cash flow growth guidance and free cash flow growth guidance of approximately 4% - 5% Y/Y” source
  • free cash flow growth full year FY27 4% growth to 5% growth Non-GAAP Maintained
    “Maintains full year FY27 operating cash flow growth guidance and free cash flow growth guidance of approximately 4% - 5% Y/Y” source
  • Capital expenditures Full Year FY27 about 1.5% Non-GAAP
    “Capital expenditures N/A Approximately 1.5% of revenue” source
  • GAAP tax provision year ended January 31, 2027 about 22.3% GAAP
    “The Company's GAAP tax provision is expected to be approximately 21.8% for the three months ended October 31, 2026 and 22.3% for the year ended January 31, 2027.” source
  • current remaining performance obligation (cRPO) growth third quarter FY27 about 14% growth New
    “Initiates third quarter FY27 cRPO growth guidance of approximately 14% Y/Y and in CC, which does not include any contribution from the pending acquisitions of Contentful and Fin” source
  • GAAP tax provision three months ended October 31, 2026 about 21.8% GAAP
    “The Company's GAAP tax provision is expected to be approximately 21.8% for the three months ended October 31, 2026 and 22.3% for the year ended January 31, 2027.” source
  • non-GAAP long-term projected tax rate long-term about 20.5% Non-GAAP
    “The Company's non-GAAP tax provision uses a long-term projected tax rate of 20.5%, which reflects currently available information and could be subject to change.” source

How earlier guidance turned out

  • Q2 FY27 diluted net income per share (GAAP), Q2 FY27 guided $1.74 to $1.76 Above range: $4.29
  • second quarter FY27 revenue guidance, second quarter FY27 guided $11.27bn to $11.35bn Within range: $11.345bn

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Salesforce's revenue by +10.5% next year and +10.2% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+10.5%, weight 58%) , management guidance (+10.4%, weight 18%) and the company's own record (+10.6%, weight 24%) . How the weights are set.

Analyst recommendations

56 analysts, Oct 2026
Buy4071%
Hold1527%
Sell12%

Monthly trend

  1. Oct 20266341556
  2. Sep 20266321555
  3. Aug 20266341456
  4. Jul 20265351355

Counts of recommendations published by analysts covering Salesforce, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
3.9%
of tradable shares
Days to cover
2.78
at average volume
Short interest, 1 month
−14%
to October 15, 2026
Held by institutions
87%
of shares
Held by insiders
3.0%
of shares
Employees
83,334
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −12.4%

$258.22 on October 31, 2025 to $226.18

ThenNowEffect
Revenue (last 12 months) $39.5bn $43.9bn +11.2%
Net margin 16.9% 22.0% +30.4%
P/E multiple 37.5x 21.0x −44.1%
Share count 968m 896m +8.0%

Biggest factor: p/e multiple.

Last 3 years +11.1%

$203.58 on November 3, 2023 to $226.18

ThenNowEffect
Revenue (last 12 months) $33.1bn $43.9bn +32.9%
Net margin 4.8% 22.0% +360.9%
P/E multiple 127.7x 21.0x −83.6%
Share count 990m 896m +10.5%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
CRM+14%−48%+99%+28%−20%−14%
Industry peers (median)−8%−50%+19%+2%−21%−14%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
CRM58%33%50%67%42%27%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
CRM−20%−50%−16%−31%−37%−43%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 59% from December 4, 2024 to June 22, 2026. Getting back needed a 142% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$149.86 – $264.42
From 52-week high
−14.5%
vs 50-day average
−5.4%
vs 200-day average
+14.5%
Volatility (1 year)
47%
Beta vs S&P 500
0.42

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±8.0%
After a week
7 up, 5 down
typical move ±8.2%
After a month
7 up, 5 down
typical move ±6.5%
Results releasedNext dayS&P 500 next day5 days21 days
August 26, 2026 +22.5% +0.7% +24.9% +14.0%
May 27, 2026 −1.6% +0.5% +6.4% −11.3%
February 25, 2026 +7.6% +0.3% +4.1% +0.1%
December 3, 2025 +5.4% +0.4% +12.6% +9.4%
September 3, 2025 −3.5% +1.4% −4.1% −5.4%
May 28, 2025 −3.7% −0.2% −5.1% −1.2%
February 26, 2025 −3.6% −1.5% −4.5% −9.2%
December 3, 2024 +11.1% +0.7% +5.4% +0.7%
August 28, 2024 −2.7% −0.6% −6.8% +4.9%
May 29, 2024 −19.2% −1.4% −12.3% −4.7%
February 28, 2024 +3.1% +0.2% +1.4% +0.7%
November 29, 2023 +12.0% +0.3% +10.8% +17.0%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Salesforce’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Includes results

A results date falls inside these options’ life. Implied volatility is meant to be higher for that, so we do not call it rich.

  • Implied is 0.93× the last 60 days’ realised volatility .
  • Why: an earnings date falls inside the option's life, so implied volatility is expected to be high.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: fundamentals grade B (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

CRM Salesforce Grade B $226.45

Own 100 shares, sell the $290 call expiring December 18, 2026 (46 days) for $1.65 a share — $165 per contract.

Previous session · Bid $1.65, ask $1.94, quoted Mon 2 Nov, 17:19 New York time with CRM at $226.45. Option prices move with the shares: check the live chain at your broker before trading.

  • If CRM ends below $290: you keep your shares and the $165 — 0.7% extra on the position, 5.8% a year at that pace.
  • If it ends above $290: your shares are sold at $290, a total return of 28.8% including the premium — at or above our value of ~$290.
$6.5k $0 −$4.5k Break-even $224.8 Price $226.45 Our value $290
Profit or loss per contract at expiry, by share price (including the shares bought at today's price).
Premium
$165
Annualised
5.8%
Break-even
$224.8
Max gain
$6,520
Chance of selling
~10%

Results are expected around December 2, 2026, before this option expires: the share price can jump on results, and the premium partly reflects that.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Salesforce in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Salesforce
$30B $35B $40B $45B FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Revenue (TTM), FY24 Q3: $34B Revenue (TTM), FY24 Q4: $34.9B Revenue (TTM), FY25 Q1: $35.7B Revenue (TTM), FY25 Q2: $36.5B Revenue (TTM), FY25 Q3: $37.2B Revenue (TTM), FY25 Q4: $37.9B Revenue (TTM), FY26 Q1: $38.6B Revenue (TTM), FY26 Q2: $39.5B Revenue (TTM), FY26 Q3: $40.3B Revenue (TTM), FY26 Q4: $41.5B Revenue (TTM), FY27 Q1: $42.8B Revenue (TTM), FY27 Q2: $43.9B $43.9B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY24 Q3 $34B
FY24 Q4 $34.9B
FY25 Q1 $35.7B
FY25 Q2 $36.5B
FY25 Q3 $37.2B
FY25 Q4 $37.9B
FY26 Q1 $38.6B
FY26 Q2 $39.5B
FY26 Q3 $40.3B
FY26 Q4 $41.5B
FY27 Q1 $42.8B
FY27 Q2 $43.9B
Revenue growth, TTM YoY Salesforce
6% 8% 10% 12% 14% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Revenue growth, TTM YoY, FY24 Q3: 12.1% Revenue growth, TTM YoY, FY24 Q4: 11.2% Revenue growth, TTM YoY, FY25 Q1: 11.0% Revenue growth, TTM YoY, FY25 Q2: 10.3% Revenue growth, TTM YoY, FY25 Q3: 9.5% Revenue growth, TTM YoY, FY25 Q4: 8.7% Revenue growth, TTM YoY, FY26 Q1: 8.0% Revenue growth, TTM YoY, FY26 Q2: 8.3% Revenue growth, TTM YoY, FY26 Q3: 8.4% Revenue growth, TTM YoY, FY26 Q4: 9.6% Revenue growth, TTM YoY, FY27 Q1: 11.0% Revenue growth, TTM YoY, FY27 Q2: 11.2% 11.2%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q3 12.1%
FY24 Q4 11.2%
FY25 Q1 11.0%
FY25 Q2 10.3%
FY25 Q3 9.5%
FY25 Q4 8.7%
FY26 Q1 8.0%
FY26 Q2 8.3%
FY26 Q3 8.4%
FY26 Q4 9.6%
FY27 Q1 11.0%
FY27 Q2 11.2%
Operating margin (TTM) Salesforce
10% 15% 20% 25% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Operating margin (TTM), FY24 Q3: 11.0% Operating margin (TTM), FY24 Q4: 14.4% Operating margin (TTM), FY25 Q1: 17.6% Operating margin (TTM), FY25 Q2: 18.1% Operating margin (TTM), FY25 Q3: 18.8% Operating margin (TTM), FY25 Q4: 19.0% Operating margin (TTM), FY26 Q1: 19.3% Operating margin (TTM), FY26 Q2: 20.2% Operating margin (TTM), FY26 Q3: 20.5% Operating margin (TTM), FY26 Q4: 20.1% Operating margin (TTM), FY27 Q1: 20.4% Operating margin (TTM), FY27 Q2: 19.9% 19.9%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q3 11.0%
FY24 Q4 14.4%
FY25 Q1 17.6%
FY25 Q2 18.1%
FY25 Q3 18.8%
FY25 Q4 19.0%
FY26 Q1 19.3%
FY26 Q2 20.2%
FY26 Q3 20.5%
FY26 Q4 20.1%
FY27 Q1 20.4%
FY27 Q2 19.9%
FCF margin (TTM) Salesforce
25% 30% 35% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 FCF margin (TTM), FY24 Q3: 26.0% FCF margin (TTM), FY24 Q4: 27.2% FCF margin (TTM), FY25 Q1: 31.7% FCF margin (TTM), FY25 Q2: 31.4% FCF margin (TTM), FY25 Q3: 31.9% FCF margin (TTM), FY25 Q4: 32.8% FCF margin (TTM), FY26 Q1: 32.8% FCF margin (TTM), FY26 Q2: 31.6% FCF margin (TTM), FY26 Q3: 32.0% FCF margin (TTM), FY26 Q4: 34.7% FCF margin (TTM), FY27 Q1: 34.2% FCF margin (TTM), FY27 Q2: 34.5% 34.5%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q3 26.0%
FY24 Q4 27.2%
FY25 Q1 31.7%
FY25 Q2 31.4%
FY25 Q3 31.9%
FY25 Q4 32.8%
FY26 Q1 32.8%
FY26 Q2 31.6%
FY26 Q3 32.0%
FY26 Q4 34.7%
FY27 Q1 34.2%
FY27 Q2 34.5%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2026, from the 10-K

Each dollar Salesforce took in during FY2026, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $41.5B
  2. Other income $1.2B · 2.9%
  3. Cost of revenue $9.3B · 22.3%
  4. Gross profit $32.3B · 77.7%
  5. Research and development $6B · 14.4%
  6. Selling, general and admin $17.3B · 41.8%
  7. Other operating costs $586M · 1.4%
  8. Operating income $8.3B · 20.1%
  9. Income tax $2.1B · 5.0%
  10. Net income $7.5B · 18.0%

Shares of revenue. Source: Salesforce's 10-K for FY2026, as filed with the SEC. "Other" lines are what the reported lines leave unexplained. Other income is income outside operations, such as investment gains.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Jan 2010 2011 Jan 2011 2012 Jan 2012 2013 Jan 2013 2014 Jan 2014 2015 Jan 2015 2016 Jan 2016 2017 Jan 2017 2018 Jan 2018 2019 Jan 2019 2020 Jan 2020 2021 Jan 2021 2022 Jan 2022 2023 Jan 2023 2024 Jan 2024 2025 Jan 2025 2026 Jan 2026 LTM Jul 2026
Income
Revenue 1.3 1.7 2.3 3.1 4.1 5.4 6.7 8.4 10.5 13.3 17.1 21.3 26.5 31.4 34.9 37.9 41.5 43.9
Gross profit 1.0 1.3 1.8 2.4 3.1 4.1 5.0 6.2 7.8 9.8 12.9 15.8 19.5 23.0 26.3 29.3 32.3 34.0
EBITDA 0.2 0.2 0.1 0.1 0.1 0.3 0.6 0.9 0.8 0.9 0.8 1.0 1.2 1.9 6.1 8.2 9.5 10.2
Operating income 0.1 0.1 −0.0 −0.1 −0.3 −0.1 0.1 0.2 0.5 0.5 0.3 0.5 0.5 1.0 5.0 7.2 8.3 8.7
Net income 0.1 0.1 −0.0 −0.3 −0.2 −0.3 −0.0 0.3 0.4 1.1 0.1 4.1 1.4 0.2 4.1 6.2 7.5 9.7
Diluted EPS $0.16 $0.12 −$0.02 −$0.48 −$0.39 −$0.42 −$0.07 $0.46 $0.49 $1.43 $0.15 $4.38 $1.48 $0.21 $4.20 $6.36 $7.80 $10.78
Growth (year on year)
Revenue +21.3% +26.9% +36.8% +34.6% +33.5% +32.0% +24.1% +25.9% +25.6% +26.0% +28.7% +24.3% +24.7% +18.3% +11.2% +8.7% +9.6% +11.2%
EBITDA +68.9% +2.8% −29.5% −13.2% −21.4% +263.1% +111.7% +32.7% −2.7% +14.4% −20.5% +37.5% +18.6% +57.7% +216.1% +34.3% +16.2% +15.4%
Operating income +80.8% −15.4% −136.0% — — — — — +108.3% +17.8% −44.5% — +20.4% +88.0% +386.5% +43.8% +15.6% +9.4%
Net income +85.9% −20.1% −117.9% — — — — — +11.5% +208.3% −88.6% — −64.5% −85.6% — +49.8% +20.3% +45.0%
Diluted EPS +80.0% −25.4% −117.0% — — — — — +6.5% +191.8% −89.5% — −66.2% −85.8% — +51.4% +22.6% +56.6%
Margins
Gross margin 80.2% 80.5% 78.4% 77.6% 76.2% 76.0% 75.2% 73.9% 73.7% 74.0% 75.2% 74.4% 73.5% 73.3% 75.5% 77.2% 77.7% 77.3%
EBITDA margin 12.9% 10.5% 5.4% 3.5% 2.0% 5.6% 9.6% 10.1% 7.8% 7.1% 4.4% 4.9% 4.6% 6.2% 17.5% 21.7% 23.0% 23.3%
Operating margin 8.8% 5.9% −1.5% −3.6% −7.0% −2.7% 1.7% 2.6% 4.3% 4.0% 1.7% 2.1% 2.1% 3.3% 14.4% 19.0% 20.1% 19.9%
Net margin 6.2% 3.9% −0.5% −8.9% −5.7% −4.9% −0.7% 3.8% 3.4% 8.4% 0.7% 19.2% 5.5% 0.7% 11.9% 16.4% 18.0% 22.0%
Free-cash-flow margin 17.0% 22.2% 19.4% 18.4% 14.2% 16.6% 20.8% 20.2% 20.9% 21.1% 21.6% 19.3% 19.9% 20.1% 27.2% 32.8% 34.7% 34.5%
Cash flow
Cash from operations 0.3 0.5 0.6 0.7 0.9 1.2 1.7 2.2 2.7 3.4 4.3 4.8 6.0 7.1 10.2 13.1 15.0 15.8
Capital spending 0.0 0.1 0.2 0.2 0.3 0.3 0.3 0.5 0.5 0.6 0.6 0.7 0.7 0.8 0.7 0.7 0.6 0.6
Free cash flow 0.2 0.4 0.4 0.6 0.6 0.9 1.4 1.7 2.2 2.8 3.7 4.1 5.3 6.3 9.5 12.4 14.4 15.2
Stock-based pay 0.1 0.1 0.2 0.4 0.5 0.6 0.6 0.8 1.0 1.3 1.8 2.2 2.8 3.3 2.8 3.2 3.5 3.7
Free cash flow after stock pay 0.1 0.2 0.2 0.2 0.1 0.3 0.8 0.9 1.2 1.5 1.9 1.9 2.5 3.0 6.7 9.3 10.9 11.5
Balance sheet
Cash 1.0 0.4 0.6 0.7 0.8 0.9 1.2 1.6 2.5 2.7 4.1 6.2 5.5 7.0 8.5 8.8 7.3 8.3
Total debt — — — — — — — — — — — — — — — — — 39.5
Net debt (negative = net cash) −1.0 −0.4 −0.6 −0.7 −0.8 −0.9 −1.2 −1.6 −2.5 −2.7 −4.1 −6.2 −5.5 −7.0 −8.5 −8.8 −7.3 31.2
Diluted shares 512m 546m 541m 565m 598m 624m 662m 700m 735m 775m 850m 930m 974m 997m 984m 974m 956m 896m
Returned to shareholders
Dividends — — — — — — — — — — — — — 0.0 0.0 1.5 1.6 1.5
Buybacks — — — — — — — — — — — 0.0 0.0 4.0 7.6 7.8 12.6 35.1
Total returned — — — — — — — — — — — 0.0 0.0 4.0 7.6 9.4 14.2 36.6

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 7 checks passed · July 31, 2026
What it owns · $109.6bn
Short-term assets $22.1bnLonger-term assets $87.5bn
What it owes, and who funded it · $109.6bn
Short-term liabilities $26.3bnLonger-term liabilities $44.9bnShareholders' equity $38.4bn
  • Short-term assets cover short-term liabilities $22.1bn of assets due within a year against $26.3bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $22.1bn short-term assets against $44.9bn of longer-dated liabilities.
  • More cash than debt $8.3bn of cash against $39.3bn of debt.
  • Debt below 40% of shareholders' equity Debt is 102% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 18% to 102% over five years.
  • A year's operating cash flow covers at least 20% of debt $15.8bn of operating cash flow against $39.3bn of debt.
  • Operating profit covers interest at least five times over Operating income of $8.7bn against $979m of interest.

From Salesforce's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2027 Q2 TTM
Buybacks (TTM)
$35.1B
Dividends (TTM)
$1.5B
Returned to shareholders
241%
of free cash flow
Buybacks, last 3 fiscal years
$28B
Diluted share count
−7.4%
year over year
Total shareholder yield
17.4%
dividends 0.7% + buybacks 16.7% of market value
Dividend payout ratio
16%
of net income paid out
R&D spending
14.5%
of revenue
Days sales outstanding
53 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in application software
Last 12 months unless stated CRM SAP ORCL ADBE INTU WDAY Median
Revenue, last 12 months $43.9bn $41.6bn $71.8bn $26.0bn $21.4bn $10.2bn $482m
Revenue growth, last 12 months 11.2% 12.5% 21.6% 12.0% 13.9% 13.3% 12.0%
Revenue growth, 3-year average 9.9% — 12.1% 11.2% 14.3% 14.8% 11.1%
Revenue growth, latest quarter 10.8% — 29.6% 12.9% 13.7% 12.8% 11.9%
Gross margin 77.3% 72.9% 61.5% 89.3% 82.1% 61.1% 69.2%
Operating margin 19.9% 26.1% 32.1% 35.7% 27.4% 10.7% 1.1%
Operating margin, 3-year average 19.4% 23.4% 30.8% 34.4% 25.3% 7.0% −0.8%
Net margin 22.0% 19.5% 26.4% 28.0% 21.3% 12.3% 2.1%
Cash from operations / revenue 35.8% 24.9% 65.4% 41.6% 41.2% 30.3% 18.2%
Free-cash-flow margin 34.5% — −40.0% 40.8% 40.4% 28.0% 15.0%
Free-cash-flow margin, 3-year average 32.5% — −9.7% 37.8% 33.9% 27.3% 16.2%
Stock pay / revenue 8.3% 4.6% 6.7% 8.0% 9.6% 16.2% 9.3%
Change in share count −7.4% −0.4% 2.0% −6.2% −2.1% −4.3% 2.2%

Median of all 185 companies we cover in application software. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

185 application software companies
Measure Company Peer median Rank
Revenue growth Growth 11.2% 12.0% 99 of 184
Change in growth rate Growth +0.2pp +0.2pp 90 of 184
Gross margin Profitability 77.3% 69.8% 48 of 160
Operating margin Profitability 19.9% 1.1% 29 of 181
Net margin Profitability 22.0% 2.1% 23 of 185
Free-cash-flow margin Cash generation 34.5% 15.2% 18 of 180
Stock pay as % of revenue Cash generation 8.3% 9.3% 82 of 177
Long-term debt as % of assets Balance sheet 35.8% 16.9% 78 of 98
Change in share count Balance sheet -7.4% 1.7% 3 of 163
Days sales outstanding Balance sheet 53 days 57 days 69 of 162

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to January 31, 2026
Products and services
Line of business Revenue Share YoY
Subscription and Support $39.4B 94.9% ▲ 10.4%
Agentforce Service $9.8B 24.9% ▲ 8.4%
Agentforce Sales $9B 22.9% ▲ 8.5%
Agentforce360 Platform Slack and Other $8.9B 22.6% ▲ 22.6%
Agentforce Integration and Agentforce Analytics $6.2B 15.8% ▲ 7.9%
Agentforce Marketing and Agentforce Commerce $5.4B 13.8% ▲ 2.8%
Professional Services and Other $2.1B 5.1% ▼ 3.6%
Geography
Region Revenue Share YoY
Americas $27.2B 65.5% ▲ 8.2%
Europe $10B 24.1% ▲ 12.7%
Asia Pacific $4.3B 10.4% ▲ 11.8%

From Salesforce's 10-K filed March 2, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$111B
Institutions reporting
2,448
Shares held vs prior quarter
▼ 4.3%
Positions opened / closed
143 / 340

Top buyers and sellers, Q2 2026: 958 institutions bought and 1,609 sold ; the biggest buyer was First Eagle Investment Management, LLC (+8.5M shares) and the biggest seller Morgan Stanley (−8.4M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $11.4B 72.7M 10.3% ▼ 8.7%
Vanguard Capital Management LLC $8.2B 52.1M 7.4% ▼ 12.3%
State Street Corp $7.1B 44.9M 6.4% ▼ 8.3%
Morgan Stanley $3.7B 23.3M 3.3% ▼ 26.4%
Geode Capital Management, LLC $3.1B 19.8M 2.8% ▼ 10.8%
Harris Associates L P $2.5B 16.2M 2.3% ▲ 8.3%
Vanguard Portfolio Management LLC $2.5B 16.1M 2.3% ▼ 17.1%
First Eagle Investment Management, LLC $2.3B 14.6M 2.1% ▲ 138.3%
Arrowstreet Capital, Limited Partnership $2.1B 13.3M 1.9% ▲ 4.9%
Bank Of America Corp $1.9B 12.2M 1.7% ▲ 4.2%
Capital Research Global Investors $1.8B 11.7M 1.7% ▼ 14.3%
Jpmorgan Chase & Co $1.6B 10.4M 1.5% ▲ 107.9%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Salesforce's complete shareholder register. Values are as reported by the filers ; 14 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $27.5M 6 trades by 3 insiders, last 12 months Insider sales History → $33.7M 13 trades by 4 insiders · 94% under pre-set plans
Net ▼ $6.2M net selling
Insider Date Trade Shares Price Value
Kirk David Blair Director September 18, 2026 Buy 4,176 $239.33 $999,451
Conway Craig Director September 4, 2026 Sell 3,082 $260.66 $803,363
Conway Craig Director September 4, 2026 Sell 1,418 $260.50 $369,383
Alber Laura Director March 19, 2026 Buy 2,080 $194.59 $404,747
Alber Laura Director March 19, 2026 Buy 491 $194.54 $95,519
Kirk David Blair Director March 18, 2026 Buy 2,570 $194.62 $500,178
Kroes Neelie Director January 14, 2026 Sell 3,893 $238.70 $929,276
Kirk David Blair Director December 17, 2025 Buy 1,936 $258.64 $500,722
Morfit G Mason Director December 5, 2025 Buy 96,000 $260.58 $25M
Harris Parker Co-Founder and CTO, Slack December 2, 2025 Sell pre-set plan 8,647 $236.17 $2M
Harris Parker Co-Founder and CTO, Slack December 2, 2025 Sell pre-set plan 57,475 $235.44 $13.5M
Harris Parker Co-Founder and CTO, Slack December 2, 2025 Sell pre-set plan 39,442 $234.61 $9.3M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 133 trades and filings

In the last 12 months, 3 members of Congress disclosed 4 purchases and 5 sales of Salesforce shares.

  • Maria Elvira Salazar(R-FL 27):Sale (partial), $1,001 - $15,000, traded September 24, 2026, filed October 7, 2026
  • Maria Elvira Salazar(R-FL 27):Purchase, $15,001 - $50,000, traded June 2, 2026, filed July 7, 2026
  • Maria Elvira Salazar(R-FL 27):Purchase, $15,001 - $50,000, traded April 6, 2026, filed May 8, 2026

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around December 2, 2026 estimated from the company's past filing pattern, not announced

  • August 26, 2026
  • May 27, 2026
  • February 25, 2026
  • December 3, 2025
  • September 3, 2025
  • May 28, 2025

Recent SEC filings

Data status

When each part of this page on Salesforce was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Salesforce in brief

What does Salesforce do?
Salesforce is a US-listed company in the application software industry. Its financial year ends in January.
What is Salesforce's stock ticker?
Salesforce trades under the ticker CRM on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Salesforce's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Salesforce reported revenue of $43.9B, 11.2% higher than a year earlier, according to its SEC filings.
What is Salesforce's free cash flow?
Salesforce's free-cash-flow margin is 34.5% of revenue over the trailing twelve months, ranking 18 of the 180 application software companies we cover.
What is Salesforce's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Salesforce's free cash flow after stock-based pay gives ~$290 per share in the base case, and ~$210–$400 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Salesforce's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and State Street Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Salesforce buying back stock, and does it pay a dividend?
Salesforce spent $35.1B on share repurchases over the trailing twelve months, and its diluted share count fell 7.4% over the year.
What is Salesforce's market cap?
On November 2, 2026, Salesforce's market capitalisation was about $203B, with a price-to-earnings ratio of 21.0 and net debt of $31.2B. Market figures come from third-party market data and may be delayed.
Does Salesforce pay a dividend?
Yes: Salesforce paid $1.5B in dividends over the trailing twelve months, a dividend yield of 0.72% and a payout ratio of 15.7%.
How much debt does Salesforce have?
Salesforce's debt-to-equity ratio is 102.4%, from its latest balance sheet (18.2% five years earlier). The financial health section below sets out its other solvency checks.
Who are Salesforce's competitors?
In our Application Software peer group, the companies closest to Salesforce are SAP SE, Oracle Corporation, Adobe Inc., Intuit and Workday, Inc. The side-by-side comparison below sets their revenue, margins and growth against Salesforce's.
Are insiders buying or selling Salesforce stock?
Over the last 12 months, Salesforce's directors and officers reported 6 open-market purchases and 13 sales on Form 4. The insider trading page charts every trade.
When is Salesforce's next earnings date?
Around December 2, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Salesforce announces its own schedule.