A Business at a Glance
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Salesforce, Inc.
CRM
$156.5B
Mkt Cap
$163.66
+4.29%
Salesforce, Inc. (CRM) has a current P/E ratio of 21.0, compared to its historical median P/E of 51.1. The stock is currently considered Cheap based on its historical valuation range.
Salesforce, Inc. (CRM) has a 5-year average return on invested capital (ROIC) of 6.0%. This is below average and may indicate limited pricing power.
Salesforce, Inc. (CRM) has a market capitalization of $142.5B. It is classified as a large-cap stock.
Yes, Salesforce, Inc. (CRM) pays a dividend with a trailing twelve-month yield of 1.09%. The company also returns capital through share buybacks, with a buyback yield of 26.10%.
Based on historical P/E analysis, Salesforce, Inc. (CRM) appears cheap. The current P/E of 21.0 is 59% below its historical median of 51.1. The estimated fair value CAGR (P/E method) is 8.4%.
Salesforce, Inc. (CRM) operates in the Services-Prepackaged Software industry, within the Technology sector.
Salesforce, Inc. (CRM) reported annual revenue of $41.5 billion in its most recent fiscal year, based on SEC EDGAR filings.
Salesforce is a global leader in cloud-based customer relationship management (CRM) technology that helps organizations become agentic enterprises by unifying humans, AI agents, applications, and data on a single intelligent platform. The company operates through multiple integrated service offerings spanning sales, service, marketing, commerce, collaboration, data management, integration, analytics, and industry-specific solutions, all powered by its AI-driven Agentforce 360 Platform and underpinned by Data 360, a hyperscale data engine that provides agents with unified customer context. Salesforce generates revenue primarily through subscription-based models sold directly to businesses worldwide and indirectly through partners, with offerings designed for flexible configuration, rapid deployment, and integration with existing enterprise applications. The company's competitive moat is built on its unified platform architecture that combines deterministic business logic with large language model reasoning, its extensive ecosystem of third-party developers and applications, and its Slack conversational interface that serves as the primary interaction layer for the Agentic Enterprise. Customers range from small businesses to large enterprises across diverse industries and geographies, with particular strength in sales and service cloud segments, and the company recently expanded its data management capabilities through the acquisition of Informatica, which closed in fiscal 2026 and provides enterprise-grade data integration, governance, and metadata management across hybrid and multi-cloud environments.
【Agentforce-driven acceleration ahead】 Management expects first-half fiscal 2027 net new annual contract value (AOV) growth to outpace overall AOV growth, driving organic revenue re-acceleration in the second half of the year, with continued momentum in Agentforce, Data 360, and Slack partially offset by ongoing weakness in Marketing and Commerce and softness in Tableau. The company is making targeted investments in Hyperforce infrastructure, account executive capacity, and field development engineers to drive adoption and customer success with Agentforce, funded partly by efficiency gains from operating as its own customer zero. Management is confident in achieving its fiscal 2030 framework targeting $63 billion in revenue, representing an 11% compound annual growth rate from fiscal 2026, while maintaining the Rule of 50 through continued operational excellence and disciplined capital allocation including share repurchases.
| Metric | Target | Period |
|---|---|---|
| Revenue | $45.8 billion–$46.2 billion | FY2027 |
| Subscription and support revenue growth | approximately 11% year-over-year in constant currency | FY2027 |
| Non-GAAP operating margin | 34.3% | FY2027 |
| GAAP operating margin | 20.9% | FY2027 |
| Q1 FY2027 revenue | $11.03 billion–$11.08 billion | Q1 FY2027 |
| FY2030 revenue target | $63 billion | FY2030 |
Revenue (FY2027): “We are initiating fiscal year 2027 revenue guidance of $45.8 billion-$46.2 billion, growth of approximately 10%-11% in nominal and constant currency.”
Subscription and support revenue growth (FY2027): “We expect subscription and support growth guidance of slightly under 12% year-over-year, or approximately 11% year-over-year in constant currency.”
Non-GAAP operating margin (FY2027): “Our non-GAAP operating margin guidance is 34.3%, an expansion of 20 basis points.”
GAAP operating margin (FY2027): “We expect GAAP operating margin of 20.9%, an expansion of 80 basis points.”
Q1 FY2027 revenue (Q1 FY2027): “Turning to Q1 guidance, we expect revenue of $11.03 billion to $11.08 billion, growth of approximately 12%-13% in nominal and 10%-11% in constant currency.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2027 Earnings Call, Q3 FY2027 Earnings Call, Q2 FY2027 Earnings Call, Q1 FY2027 Earnings Call
| Segment | 2022 | 2023 | 2024 | 2025 | 2026 | % of Total |
|---|---|---|---|---|---|---|
Subscription and support | $24.66B | $29.02B | $32.54B | $35.68B | $39.39B | 49% |
Agentforce Service | — | — | $8.24B | $9.05B | $9.82B | 12% |
Agentforce Sales | — | — | $7.58B | $8.32B | $9.03B | 11% |
Agentforce 360 Platform, Slack and Other | — | — | $6.61B | $7.25B | $8.88B | 11% |
Agentforce Integration and Agentforce Analytics | — | — | $5.19B | $5.78B | $6.23B | 8% |
| Metric | TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|---|---|
| Revenue | 42.8B | 41.5B | 37.9B | 34.9B | 31.4B | 26.5B |
| Net Income | 8.0B | 7.5B | 6.2B | 4.1B | 208M | 1.4B |
| EPS | $8.61 | $7.80 | $6.36 | $4.20 | $0.21 | $1.48 |
| Free Cash Flow | 14.7B | 14.4B | 12.4B | 9.5B | 6.3B | 5.3B |
| ROIC | 11.1% | 10.5% | 10.4% | 7.2% | 1.0% | 1.1% |
| Gross Margin | 77.6% | 77.7% | 77.2% | 75.5% | 73.3% | 73.5% |
| Debt/Equity | 1.15 | 0.24 | 0.14 | 0.16 | 0.18 | 0.18 |
| Dividends/Share | $1.78 | $1.66 | $1.58 | $0.00 | $0.00 | - |
| Operating Income | 8.7B | 8.3B | 7.2B | 5.0B | 1.0B | 548M |
| Operating Margin | 20.4% | 20.1% | 19.0% | 14.4% | 3.3% | 2.1% |
| ROE | 23.4% | 12.4% | 10.3% | 7.0% | 0.4% | 2.9% |
| Shares Outstanding | 871M | 956M | 974M | 985M | 990M | 976M |
Salesforce, Inc. passes 6 of 9 quality checks, suggesting mixed fundamentals.
Salesforce, Inc. trades at 21.0x trailing earnings, compared to its 15-year median P/E of 51.1x, suggesting it is currently Cheap relative to its historical range. On a free-cash-flow basis, the stock trades at 10.5x vs a median of 34.7x. The company's 5-year average ROIC is 6.0% with a gross margin of 75.4%. Total shareholder yield (dividends + buybacks) is 27.2%. At current prices, the estimated annualized return to fair value is +23.5%.
Salesforce, Inc. (CRM) has a net profit margin of 18.0%. This is a healthy margin.
Salesforce, Inc. (CRM) generated $14.4 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Salesforce, Inc. (CRM) has a debt-to-equity ratio of 0.24. This indicates a conservatively financed balance sheet.
Salesforce, Inc. (CRM) reported earnings per share (EPS) of $7.80 in its most recent fiscal year.
Salesforce, Inc. (CRM) has a return on equity (ROE) of 12.4%. This indicates moderate shareholder returns.
Salesforce, Inc. (CRM) has a 5-year average gross margin of 75.4%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 19 years of financial data for Salesforce, Inc. (CRM), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Salesforce, Inc. (CRM) has a book value per share of $61.86, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects first-half fiscal 2027 net new annual contract value (AOV) growth to outpace overall AOV growth, driving organic revenue re-acceleration in the second half of the year, with continued momentum in Agentforce, Data 360, and Slack partially offset by ongoing weakness in Marketing and Commerce and softness in Tableau. The company is making targeted investments in Hyperforce infrastructure, account executive capacity, and field development engineers to drive adoption and customer success with Agentforce, funded partly by efficiency gains from operating as its own customer zero. Management is confident in achieving its fiscal 2030 framework targeting $63 billion in revenue, representing an 11% compound annual growth rate from fiscal 2026, while maintaining the Rule of 50 through continued operational excellence and disciplined capital allocation including share repurchases.
Based on recent SEC filings and earnings calls, Salesforce, Inc. (CRM) has provided the following forward guidance: Revenue: $45.8 billion–$46.2 billion (FY2027); Subscription and support revenue growth: approximately 11% year-over-year in constant currency (FY2027); Non-GAAP operating margin: 34.3% (FY2027); GAAP operating margin: 20.9% (FY2027); Q1 FY2027 revenue: $11.03 billion–$11.08 billion (Q1 FY2027), plus 1 additional metric.
FY2030 revenue target (FY2030): “Based on our strong Q4 performance and the fast start with Informatica, we're updating our fiscal year 30 revenue target to $63 billion.”