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SalesforceCRM

$213.3B market cap
SalesforceCRM
Revenue

Revenue: is the business selling more than it used to?

$41.5B+10% YoYFY 2025

0.00$20.0B$40.0B2011201220132014201520162017201820192020202120222023202420252026$43.9B

◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year

Revenue reached $41.5B in 2025, compounding +10% a year since 2022 though the pace has cooled. The trailing twelve months are already running at $43.9B, ahead of the last full year.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

SalesforceCRM
Net income

Net income: how much of that revenue becomes profit?

$7.5B+20% YoYFY 2025

0.00$5.0B$10.0B2011201220132014201520162017201820192020202120222023202420252026$9.7B

◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year

Net income was $7.5B in 2025, compounding +230% a year over three years. Earnings per share moved +45% over the last twelve months. Trailing twelve-month profit stands at $9.7B.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

SalesforceCRM
Growth rate

How fast is it growing, year by year?

+9.6%revenue growth, FY 2025

0.0%201220132014201520162017201820192020202120222023202420259.6%20%

Off the axis: 2018 earnings +208.3% · 2020 earnings +3131.7% · 2023 earnings +1888.5% - rebounds off a collapsed prior year.

Revenue grew +10% in 2025 against a five-year average of +14%. Earnings grew faster (+20%), so each new dollar of sales is arriving more profitably. 2018's +208% earnings rebound off a collapsed base and 2020's +3132% earnings rebound off a collapsed base and 2023's +1888% earnings rebound off a collapsed base sits off the axis.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

SalesforceCRM
Per-share growth

Revenue per share: is your slice growing as fast as the company?

$43.44revenue per share, FY 2025

0.0020.0040.00201120122013201420152016201720182019202020212022202320242025202645.9615.85

2026 = trailing twelve months to the latest filed quarter (2026-07-31), not a full fiscal year

Revenue per share reached $43.44 in 2025, compounding +11% a year against +10% for CRM as a whole. Buybacks added roughly 1.5 points to your per-share result. Free cash flow per share stands at $15.06.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

SalesforceCRM
Free cash flow

Free cash flow: what is left in real cash after everything?

$14.4B+16% YoYFY 2025

0.00$10.0B2011201220132014201520162017201820192020202120222023202420252026$15.2B

◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year

Free cash flow was $14.4B in 2025, compounding +32% a year since 2022. That is the most cash the business has ever thrown off in a year. The trailing twelve months stand at $15.2B.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

SalesforceCRM
Income waterfall

Where does each dollar of revenue actually go?

$41.5BRevenue 2025$32.3BGross profit$8.3BOperating income$7.5BNet income

Of $41.5B in 2025 sales, $7.5B reaches net profit - 18 cents on the dollar. The largest single deduction is running the company ($23.9B).

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

SalesforceCRM
Cash conversion

How much of every sales dollar ends up as free cash?

0.0%20%20112012201320142015201620172018201920202021202220232024202535%202634%

◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year

35 cents of every sales dollar became free cash in 2025, up 15 points since 2022 - the best conversion in its filed history.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

SalesforceCRM
Spending intensity

What does staying competitive cost, per dollar of sales?

0.0%10%20112012201320142015201620172018201920202021202220232024202520261.4%14%8.3%

2026 = trailing twelve months to the latest filed quarter (2026-07-31), not a full fiscal year

The biggest claim on each sales dollar is research and development, at 14% of revenue (stock compensation 8%, capital spending 1%).

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

SalesforceCRM
Operating leverage

When sales grow, do profits grow faster?

0.0%200%400%20162017201820192020202120222023202420259.6%16%

Operating profit outgrew revenue in 4 of the last 5 years, most recently +16% against +10%. Each additional dollar of sales is landing more profitably than the last - the definition of operating leverage.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

SalesforceCRM
Margins

Margins: of every $1 of sales, how much survives each cost layer?

0.0%50%201120122013201420152016201720182019202020212022202320242025202677%20%22%

2026 = trailing twelve months to the latest filed quarter (2026-07-31), not a full fiscal year

Operating margin widened 17 points to 20% since 2022. After everything, 18 cents of each sales dollar reaches net profit.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

SalesforceCRM
Returns on capital

What does it earn on the money it uses?

0.0%20%201120122013201420152016201720182019202020212022202320242025202625%8.8%11%

2026 = trailing twelve months to the latest filed quarter (2026-07-31), not a full fiscal year

ROE of 25% sits well above ROCE of 11%. A meaningful share of the shareholder return is manufactured with leverage rather than operations.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

SalesforceCRM
Valuation history

What has the market paid for CRM over time?

25.6xP/E today

0.0050010002016201720182019202020212022202320242025202610-year median 159.4xP/E 25.65

2026 = at the latest close (2026-09-04), over the trailing twelve months; earlier years are annual averages

At 25.6x earnings, the market is paying 84% less than CRM's own 10-year median of 159.4x. Pessimism is priced in - the question is whether it is deserved. Today's multiple is the lowest in the charted history.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

SalesforceCRM
Free cash flow yield

What cash return does the business throw off per dollar of market value?

7.1%FCF yield today

0.0%5.0%20152016201720182019202020212022202320242025202611-year median 3.3%FCF yield 7.1%

2026 = at the latest close (2026-09-04), over the trailing twelve months; earlier years are annual averages

Every dollar of market value currently buys 7.1% of annual free cash flow, more than its 11-year median of 3.3% - the cash is cheaper than usual.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

SalesforceCRM
Debt & cash

Could it handle its debt if things went wrong?

0.00$20.0B$40.0B201220132014201520162017201820192020202120222023202420252026$39.3B$8.4B

2026 = the latest balance sheet (2026-07-31), not a fiscal year-end

Debt of $39.3B sits against $8.3B of cash, or 1.0x shareholders' equity. Earnings cover the interest bill 9 times over, so the debt is comfortably serviced.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

SalesforceCRM
Shareholders' equity

Is the company's own capital growing?

0.00$25.0B$50.0B2012201320142015201620172018201920202021202220232024$61.2B20252026$38.4B

The company's own capital shrank from $59.6B in 2023 to $38.4B (-36%). Buybacks or losses are drawing the buffer down - the distinction matters.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

SalesforceCRM
Capital returned

How much goes back, and how much leaks out as stock comp?

0.00$20.0B2020202120222023202420252026

Shareholders received $12.6B in buybacks and $1.6B in dividends in 2025. Stock compensation issued $3.5B of new shares in the same year, offsetting 25% of that.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

SalesforceCRM
Dilution rate

How fast is your ownership being diluted - or concentrated?

0.0%5.0%10%201220132014201520162017201820199.7%202020212022202320242025-1.8%

The share count shrank 1.8% in 2025, averaging 1.4% a year over three years. Buybacks are concentrating your ownership: the same business, split fewer ways.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

SalesforceCRM
Return on capital employed

Does CRM earn more on its capital than that capital costs?

0.0%10%20112012201320142015201620172018201920202021202220232024202510% cost of capitalreturn on capital 11%

CRM earns 11.1% on the capital it employs, comfortably above the 10% most investors treat as the cost of capital. It was 1.4% in 2022, so the trend is up, and the pace is picking up. That is the highest in CRM's filed history.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

SalesforceCRM
Dilution against what it bought

CRM has issued or retired shares - did shareholders end up better off?

05001,0002011201220132014201520162017201820192020202120222023202420251771,037

CRM issued +77% more shares from 2011 to 2025, but revenue per share still rose +937%. The dilution bought more growth than it cost existing holders.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

SalesforceCRM
Insider flow

Are the people running it buying or selling?

$1M5000000.00Sep '26

Insiders sold $1M on the open market and bought nothing. Many sales are pre-scheduled diversification rather than a view on the price. A further 58 filings were grants, option exercises or tax withholding, which say nothing either way.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

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