NYSE: CRM · Application Software
Salesforce
Salesforce sells CRM software by subscription, now packaged as the Agentforce 360 Platform. It covers sales, service, marketing, commerce, Slack, data (Data 360 and Informatica), integration (MuleSoft) and analytics (Tableau). Agentforce, the platform's AI-agent layer, lets customers deploy autonomous AI agents. FY2026 (year ended January 2026) revenue was $41.5 billion (+10%), 95% of it subscription and support, and net income was $7.5 billion. Salesforce closed its roughly $9.6 billion Informatica acquisition in November 2025. In March 2026 it started a $25 billion accelerated share repurchase, funded with $25 billion of new senior notes.
Last updated
Analysis last edited: October 14, 2026 · Financial data fetched: October 17, 2026 10:07 (SEC EDGAR) · Source 10-K filed: March 2, 2026
Built on10-K FY2026 · filed 2026-03-0210-Q (quarter ended 2026-07-31) · filed 2026-08-27
Next update expectedAfter FY2027’s 10-K is filed (roughly 60–90 days after fiscal year end (sooner for larger filers)), financials and analysis will be refreshed.
01
At a glanceFrom SEC data
Eight headline measures, each placed among the companies covered on this site.
- Revenue growthCAGRSmooths out year-to-year swings into "grew X% a year on average." Makes growth pace comparable across companies of very different sizes.
- 14.3%
- Operating marginOperating marginHow many cents of operating profit are left per dollar of revenue. Reflects pricing power and cost structure.
- 20.1%
- ROIC minus WACCROIC − WACC spreadThe difference between ROIC and WACC. Consistently positive implies value creation; consistently negative implies value destruction.
- -0.7 pts
- Net debt ÷ EBITDAEBITDAOperating income with D&A added back. A rough proxy for cash-generating power that’s less distorted by capital intensity, depreciation method, or financing/tax differences than net income.
- 0.5x
- Cash conversionOperating CF ÷ net income (cash conversion)How much of reported profit shows up as actual cash. 1x or higher means profit is backed by cash.
- 2.01x
- Dividend raisesDividend per shareTotal annual dividend paid per share (sum of all declared payments for the year).
- 1 of 5
- P/E todayP/EShare price ÷ EPS — how many years of current earnings the stock price represents. This site uses the period-end figure as reported in the filing.
- 22.4x
- Betaβ (beta)How much a stock moves, on average, for a 1% move in the overall market. Above 1 means more volatile than the market, which raises the return shareholders require. This site computes it from about 2.5 years (roughly 130 weeks) of weekly returns, built from Yahoo Finance daily prices, regressed against an S&P 500 ETF (SPY) as the market proxy, then applies the well-known long-run mean-reversion adjustment (0.67 × β + 0.33) as the WACC default.
- 1.05
Higher than 78% of 372 non-financial companies
Average yearly growth over the years shown
Higher than 56% of 311 non-financial companies
Latest fiscal year (FY2026)
Higher than 26% of 311 non-financial companies
Return on capital above (or below) its estimated cost
Higher than 28% of 304 non-financial companies
Below 0 means more cash than debt
Higher than 74% of 349 non-financial companies
Operating cash flow ÷ net income
Years the dividend per share rose, of the last 5
Latest close 2026-11-04; trailing 12 months to 2026-07-31
Above 1 = moves more than the market
Each marker shows where this company sits among the non-financial companies covered on this site, not all listed companies (left = lowest, right = highest). A high position is not automatically good — for net debt ÷ EBITDA, higher means more debt. Details and formulas are in the sections below and in How to read this.
02
Valuation todayFrom SEC data
Price-based measures at the latest close, next to the same measures at the last fiscal year-end.
Share price$233.00close on 2026-11-04
Market cap$216.46B
- P/EP/EShare price ÷ EPS — how many years of current earnings the stock price represents. This site uses the period-end figure as reported in the filing. today
- 22.4x
- P/BP/BShare price ÷ book value per share. Below 1x means the market values the company below its accounting net worth. This site uses the closing price nearest the fiscal year-end and highlights sub-1x readings. today
- 3.7x
- EV/EBITDAEV/EBITDAEnterprise value (≈ market cap + interest-bearing debt − cash) as a multiple of EBITDA — roughly, "how many years of EBITDA to buy the whole company." Lower is generally viewed as cheaper, and it’s more comparable than P/E across companies with different debt loads or depreciation policies. This site excludes noncontrolling interests from the EV calculation. today
- 23.2x
- FCF yieldFree cash flow (FCF)Operating CF minus capital expenditures — cash generated by the business after funding its own investment, available for dividends, buybacks, acquisitions, or debt paydown. Acquisitions and securities purchases (also in investing CF) are not subtracted, so FCF can be positive in a year when total investing CF exceeds operating CF. today
- 6.7%
- Dividend yieldDividend per shareTotal annual dividend paid per share (sum of all declared payments for the year). today
- 0.7%
At FY2026 year-end: 27.2x
Earnings: trailing 12 months to 2026-07-31
At FY2026 year-end: 3.3x
Book value at FY2026 year-end
At FY2026 year-end: 21.4x
EBITDA for FY2026
At FY2026 year-end: 7.3%
Free cash flow for FY2026
Dividends per share for FY2026
“Today” uses the latest closing price (2026-11-04, Yahoo Finance daily closing prices) and shares outstanding at the last fiscal year-end. The rest of this page — including the financial table and ROIC vs. WACC — uses fiscal year-end prices. These are reference figures, not a judgment of whether the stock is cheap or expensive.
03
What changed since last earningsFrom SEC data
The latest reported quarter against the same quarter a year earlier, the balance sheet against the previous quarter-end, and what management said in its latest earnings release.
Quarter ended Jul 31, 2026.
- Revenue$10.24B → $11.35B (vs. a year earlier)↑ +10.8%$10.24B → $11.35B (vs. a year earlier)
- Operating margin22.8% → 20.5% (vs. a year earlier)↓ −2.2 pts22.8% → 20.5% (vs. a year earlier)
- Net income$1.89B → $3.53B (vs. a year earlier)↑ +86.9%$1.89B → $3.53B (vs. a year earlier)
- Diluted EPS$1.96 → $4.29 (vs. a year earlier)↑ +118.9%$1.96 → $4.29 (vs. a year earlier)
- Cash$8.94B → $8.31B (vs. previous quarter-end)↓ −7.0%$8.94B → $8.31B (vs. previous quarter-end)
- Long-term debt$39.28B → $39.29B (vs. previous quarter-end)→ +0.0%$39.28B → $39.29B (vs. previous quarter-end)
Source: Form 10-Q ↗ (SEC XBRL). Long-term debt is the tagged long-term debt figure and leaves out short-term borrowings.
From the earnings release of Aug 26, 2026.
Management outlook ↑ Raised
Raised FY2027 revenue guidance to $46.1B–$46.4B. Source sentence
Salesforce raises full year FY27 revenue guidance to $46.1 billion to $46.4 billion, up 11% - 12% Y/Y and 11% Y/Y in CC.
Key changes
Q3 revenue guidance of $11.42B–$11.5B. Source sentence
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
GAAP operating margin 20.5%. Source sentence
GAAP operating margin of 20.5% and non-GAAP operating margin of 34.1%
Written by AI. A line appears only if its figures and direction match the quoted sentence, which an automatic check confirms. Companies' outlooks are their own and may not be met. Read the release ↗
04
Company profileFrom SEC dataShow
- Legal name
- Salesforce, Inc.
- Headquarters
- SAN FRANCISCO, CA
- Incorporated in
- Delaware
- Fiscal year end
- 01/31
- Exchange & ticker
- NYSE: CRM
- Industry
- Application Software
- CIK
- 1108524
Workforce (as of FY2026 year-end)
Employees
83,334
Source: Form 10-K (FY2026) cover page and business description
05
Earnings calendarFrom SEC dataShow
When the company reports each quarter: the quarter-end date, the day results were released, and when the 10-Q or 10-K was filed.
Next report
Q3 FY2027
Quarter end: October 2026. In past years, Q3 results were released 29–33 days after quarter end (Dec 3, 2025; Dec 3, 2024; Nov 29, 2023). No date has been announced in the sources this site uses.
Reporting pattern
- Fiscal year ends around January 31.
- Reports four times a year: three quarterly reports (10-Q) and an annual report (10-K) for Q4.
- Earnings releases came 25–34 days after quarter end over the last 12 quarters.
| Quarter | Quarter ended | Earnings release (8-K) | Report filed (10-Q / 10-K) |
|---|---|---|---|
| Q2 FY2027 | Jul 31, 2026 | Aug 26, 2026 (+26 days) | Aug 27, 2026 10-Q (+27 days) |
| Q1 FY2027 | Apr 30, 2026 | May 27, 2026 (+27 days) | May 28, 2026 10-Q (+28 days) |
| Q4 FY2026 | Jan 31, 2026 | Feb 25, 2026 (+25 days) | Mar 2, 2026 10-K (+30 days) |
| Q3 FY2026 | Oct 31, 2025 | Dec 3, 2025 (+33 days) | Dec 4, 2025 10-Q (+34 days) |
| Q2 FY2026 | Jul 31, 2025 | Sep 3, 2025 (+34 days) | Sep 4, 2025 10-Q (+35 days) |
| Q1 FY2026 | Apr 30, 2025 | May 28, 2025 (+28 days) | May 29, 2025 10-Q (+29 days) |
| Q4 FY2025 | Jan 31, 2025 | Feb 26, 2025 (+26 days) | Mar 5, 2025 10-K (+33 days) |
| Q3 FY2025 | Oct 31, 2024 | Dec 3, 2024 (+33 days) | Dec 4, 2024 10-Q (+34 days) |
| Q2 FY2025 | Jul 31, 2024 | Aug 28, 2024 (+28 days) | Aug 29, 2024 10-Q (+29 days) |
| Q1 FY2025 | Apr 30, 2024 | May 29, 2024 (+29 days) | May 30, 2024 10-Q (+30 days) |
| Q4 FY2024 | Jan 31, 2024 | Feb 28, 2024 (+28 days) | Mar 6, 2024 10-K (+35 days) |
| Q3 FY2024 | Oct 31, 2023 | Nov 29, 2023 (+29 days) | Nov 30, 2023 10-Q (+30 days) |
Source: SEC EDGAR filing history. Release dates are the dates the earnings release was furnished to the SEC on Form 8-K (Item 2.02), which is normally the day results are announced. For a quarter whose 10-Q or 10-K isn’t filed yet, the date is the latest Item 2.02 8-K since the previous report, which may be a preliminary or other results-related update. Fiscal years are labeled by the calendar year in which they end.
06
Flagship products & servicesSite analysis
Applications
Agentforce Sales / Service / Marketing / Commerce
Examples: Sales, service, marketing and commerce applications
CRM applications with embedded AI agents.
Platform
Agentforce 360 Platform, Slack
Examples: Slack, Slackbot
Platform and collaboration.
Data
Data 360 and Informatica
Examples: Data integration, quality, governance
Data foundation for agents.
Integration and Analytics
Integration and analytics
Examples: MuleSoft, Tableau
Integration and analytics products.
Offering names follow the FY2026 Form 10-K's revenue categories.
U.S., worldwide and country/regional share of flagship products/services
Only shares the company itself states (in its filings or press releases, sometimes citing a research firm) are shown. Scope and timing vary by figure — treat these as approximate.
CRM software
Worldwide
U.S. share
—
Not disclosedWorldwide share
#1 provider
Company-disclosedThe 10-K says Salesforce has become the #1 provider of CRM software globally; no percentage is given.
Sources:
07
Recent strategic focusSite analysis
FY2026–FY2027 developments.
$25B ASR
In March 2026 Salesforce entered $25B of accelerated share repurchase agreements and issued $25B of senior notes due 2028–2066.
Source: 8-Ks filed 2026-03-12, 2026-03-13, 2026-03-16
Informatica
Closed in November 2025 for about $9.6B; it contributed about $0.4B of FY2026 revenue.
Source: Form 10-K (FY2026)
Q2 FY2027
Revenue was $11.3B (+11%) and cRPO $33.5B (+14%); FY2027 revenue guidance was raised by $200M.
Source: Q2 FY2027 press release
Executive changes
Srini Tallapragada stepped down as President and Chief Engineering and Customer Success Officer in August 2026.
Source: 8-K filed 2026-08-05
Capex ÷ D&A (FY2026)
0.49x
Below depreciation — investment is being pared back
formulacapital expenditures ÷ depreciation & amortization
e.g.$594M ÷ $1,200M = 0.49x
termsCapital expenditures (capex) · Depreciation & amortization (D&A)
R&D-to-revenue ratio (FY2026)
14.4%
formularesearch & development expense ÷ revenue × 100
e.g.$5,993M ÷ $41,525M × 100 = 14.4%
M&A spend (6-year total)
$28.68B
Latest year: $9.27B
Cash-flow-statement spending on acquisitions, net of cash acquired
Where the money goes, over time
Unit: $M. Capex went from $710M in FY2021 to $594M in FY2026
- Capex
- R&D
- M&A spend
formulacapital expenditures ÷ depreciation & amortization
termsCapital expenditures (capex) · Depreciation & amortization (D&A)
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-03-02
08
Key figures at a glanceFrom SEC data
FY2021–FY2026, 6 years.
Revenue (FY2026)
$41.53B
As reported in the 10-K
Revenue CAGR (5 years)
+14.3%▲favorable
formula(last-period revenue ÷ first-period revenue) ^ (1 ÷ years) − 1
e.g.($41,525M ÷ $21,252M) ^ (1÷5) − 1 = 14.3%
termsCAGR · ^ (exponent) · Revenue (net sales)
Operating margin (FY2026)
20.1%▲favorable
+17.9pt vs. 5 years ago
formulaoperating income ÷ revenue × 100
e.g.$8,331M ÷ $41,525M × 100 = 20.1%
ROE (FY2026)
12.4%▲favorable
6-year average: 7.1%
As reported in the 10-K
P/B (FY2026 end)
3.33x
formulafiscal year-end closing price ÷ book value per share
e.g.$212.29 ÷ $63.66 = 3.33x
Period-end (fiscal year-end) value, not today's P/B
EV/EBITDA (FY2026 end)
21.4x
formula(market cap + interest-bearing debt − cash and equivalents) ÷ (operating income + depreciation & amortization)
e.g.($197,217M + $14,439M − $7,327M) ÷ ($8,331M + $1,200M) = 21.4x
termsEV/EBITDA · Market capitalization · Interest-bearing debt · EBITDA · Depreciation & amortization (D&A)
Period-end (fiscal year-end) value, not today's multiple
- ▲
Revenue grew +14.3% a year over 5 years (strong growth)
From $21.25B in FY2021 to $41.53B in FY2026. The annualized rate (CAGR) makes it possible to compare growth pace across companies of different sizes.
- ▲
Operating margin improved: 2.1% → 20.1%
How much operating profit is left per $100 of revenue. It moved +17.9 points over 5 years — pricing power, cost control, and product mix all show up here.
- ▲
Equity ratio is 52.7% (a high level of financial stability)
The share of total assets funded by equity rather than debt. 50%+ is often read as low bankruptcy risk, though the right level varies by industry (real estate and leasing run lower, for instance).
- ▲
Free cash flow was positive in 6 of 6 years
Operating cash flow minus capital expenditures: the cash left over after funding the business’s own investment, available for dividends, buybacks, acquisitions, or debt paydown. A negative year can mean heavy investment, or weak core earnings — worth distinguishing.
- ―
ROE averaged 7.1% over 6 years (latest: 12.4%)
How much profit was generated on shareholders’ equity. Roughly 10%+ is often cited as solid for a U.S. company, though this varies a lot by industry and capital intensity.
09
Business modelSite analysis
Business Model Canvas
The whole company in nine blocks. Left side: how it delivers (partners, activities, resources, costs). Right side: who it serves and how it earns. Every entry comes from the company’s filings shown on this page.
08 · who helps
Key partners
No partners or suppliers named in the filings.
07 · what it does
Key activities
- Running the Agentforce 360 Platform
- Implementation and professional services
06 · what it draws on
Key resources
- Engineering and AI investment (R&D $6.0B)
- Sales and marketing ($14.3B)
02 · why customers buy
Value propositions
- Cloud CRM and AI services (Agentforce) for sales, service, marketing and data.
04 · how it keeps them
Customer relationships
- Subscriptions (typically 12–36 months) with customer support and success programs aimed at reducing attrition and securing renewals.
03 · how it reaches them
Channels
- Primarily a direct sales force in regional hubs, plus partners and online.
01 · who it serves
Customer segments
- Businesses worldwide of all sizes
09 · where money goes
Cost structure
FY2026, share of revenue ($41.53B)
- Cost of revenue22.3%
- Research & development14.4%
- Selling, general & administrative7.2%
- Other operating costs36.0%
Operating profit left: 20.1% of revenue. Depreciation & amortization (inside the costs above): $1.2B. Capital spending: $594M.
Source: Form 10-K income statement and cash-flow statement (SEC XBRL).
05 · how money comes in
Revenue streams
- Subscription and support ($39.4B)
- Professional services ($2.1B)
Value propositions, channels and customer relationships: Form 10-K (FY2026)
Salesforce sells its cloud services mainly through subscriptions, typically 12–36 months, plus professional services.
01 what it draws on
Inputs & resources
- Engineering and AI investment (R&D $6.0B)
- Sales and marketing ($14.3B)
02 what it does
Activities
- Running the Agentforce 360 Platform
- Implementation and professional services
03 who it serves
Customers
- Businesses worldwide of all sizes
04 how money comes in
How it earns
- Subscription and support ($39.4B)
- Professional services ($2.1B)
How the business makes money
- Remaining performance obligation was $72.4B (+14%) at the end of FY2026.
- Pricing was not a significant driver of FY2026 subscription growth; volume was.
Government & regulation around the business
Non-market factors from the company’s filings: what governments and regulators fund, buy, set, approve or restrict, and which part of the flow above each one touches.
Salesforce faces sanctions and export controls and serves governments under special compliance rules.
Trade & export rules
Export controls and sanctions
Governmental sanctions and export and import controls could impair its ability to compete internationally.
Constrains the businessTouches: CustomersSource: Form 10-K (FY2026)
Government as customer
Government contracts
Its status as a government contractor adds compliance obligations.
Supports and constrainsTouches: Customers · How it earnsSource: Form 10-K (FY2026)
Revenue by segment (FY2026 (Jan))
Unit: $M — bar length = revenue, (%) = share of total company revenue
Agentforce Service
9,818 (24%)Agentforce Sales
9,028 (22%)Agentforce 360 Platform, Slack and Other
8,882 (21%)Agentforce Integration and Analytics
6,232 (15%)Agentforce Marketing and Commerce
5,428 (13%)Professional services and other
2,137 (5%)
Source: Form 10-K (FY2026) — MD&A, revenues by service offering Salesforce reports one segment; these are revenue lines. Subscription and support totaled $39.4B.
10
Where it earnsSite analysis
Many U.S.-listed companies earn most of their revenue outside the U.S. — this breaks down revenue by country/region so it's clear where the business actually makes its money.
Largest market ()
Americas — 65% of revenue
Revenue by country / region ()
Unit: — bar length = revenue, (%) = share of total company revenue
Americas
27,193 (65%)Europe
10,017 (24%)Asia Pacific
4,315 (10%)
Source: Form 10-K (FY2026) — Revenues by Geography Based on the region of the Salesforce contracting entity.
11
Contract structureSite analysisShow
Short-term or spot sales carry different earnings quality than long-term or auto-renewing contracts — this shows how the company actually contracts with its customers.
Subscriptions typically run 12 to 36 months, and customers have no obligation to renew.
Remaining performance obligation
$72.4B total; $35.1B current
Typical term: As of January 31, 2026
Source: Form 10-K (FY2026)
12
Customers & suppliersSite analysis
Who the company sells to and buys from. Companies rarely name either, so named counterparties come only from the company's own filings and press releases; otherwise this lists the concentration figures the 10-K discloses.
Customers
Businesses worldwide across industries and sizes.
Named by the company
No customer is named as significant.
Suppliers
Data center and cloud infrastructure providers.
Named by the company
No supplier is named.
13
Competitors & peersSite analysis
Competitors the 10-K names, and the peer group the company itself chose in its proxy statement. Nothing here is this site's own pick.
The 10-K lists competitor categories (packaged and on-premises software vendors, AI-native startups, other cloud software companies) rather than naming firms.
Competitors named in the 10-K
Salesforce's 10-K doesn't name competitors.
Peer group the company chose
Fiscal 2026 compensation peer group, from the proxy statement. Peers are companies the board considers comparable — for example when setting executive pay — not necessarily direct competitors.
17 companies with market caps above $35B in similar and adjacent industries; unchanged for fiscal 2027.
- Accenturesite ↗
- Dell Technologiessite ↗
- PayPalsite ↗
- Adobesite ↗
- IBMsite ↗
- Qualcommsite ↗
- Advanced Micro Devicessite ↗
- Intuitsite ↗
- SAPsite ↗
- Blocksite ↗
- Microsoftsite ↗
- ServiceNowsite ↗
- Broadcomsite ↗
- Oraclesite ↗
- Workdaysite ↗
- Cisco Systemssite ↗
- Palo Alto Networkssite ↗
Company names link to this site’s analysis where one exists; “site ↗” opens the company’s own website.
14
M&A historySite analysisShow
Companies acquired over the last five years, plus older large acquisitions that still anchor a current business — what each was bought to do, and what happened afterward. From the 10-K, 8-Ks, and the company's press releases.
Salesforce has acquired companies including Slack; Informatica is its most recent large acquisition.
Cash spent on acquisitions, FY2021–FY2026: $28.68B
2025-11
Informatica
About $9.6B
AI-powered enterprise cloud data management platform.
- Stated purpose (company)
- Significantly expands Salesforce's trusted data foundations.
Source: Form 10-K (FY2026)
15
Six years of financialsFrom SEC data
Each chart's axis holds a single unit (never mixing dollars, %, and $/share). The table's per-period header links to the filing the numbers came from.
Revenue over time
Unit: $M
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-03-02
Profit over time (operating → net)
Unit: $M
- Operating income
- Pretax income
- Net income
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-03-02
Margins over time
Unit: %
- Operating margin
- Net margin
formulaoperating income ÷ revenue × 100
formulanet income attributable to the company ÷ revenue × 100
Cash flow over time
Unit: $M (below zero = cash went out)
- Operating CF
- Investing CF
- Free CF
formulacash flow from operations − capital expenditures
termsFree cash flow (FCF) · Cash flow from operations (operating CF) · Capital expenditures (capex)
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-03-02
Financial stability & capital efficiency
Unit: %
- Equity ratio
- ROE
formulatotal equity ÷ total assets × 100 (as reported in the 10-K)
termsStockholders’ equity · Total assets
formulanet income ÷ average equity (beginning + ending, ÷2) × 100 (as reported in the 10-K)
termsNet income (attributable to the company) · Stockholders’ equity
Earnings per share (EPS) and dividend per share
Unit: $
- EPS
- Dividend per share
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-03-02
| Line item | FY2021In next year’s 10-K | FY2022In next year’s 10-K | FY2023In next year’s 10-K | FY202410-K on EDGAR ↗ | FY202510-K on EDGAR ↗ | FY202610-K on EDGAR ↗ |
|---|---|---|---|---|---|---|
| Income statement ($M) | ||||||
| Revenue | 21,252 | 26,492 | 31,352 | 34,857 | 37,895 | 41,525 |
| Operating income | 455 | 548 | 1,030 | 5,011 | 7,205 | 8,331 |
| Pretax income | 2,561 | 1,532 | 660 | 4,950 | 7,438 | 9,520 |
| Net income (attributable) | 4,072 | 1,444 | 208 | 4,136 | 6,197 | 7,457 |
| Revenue growthcalc(this year’s revenue − last year’s revenue) ÷ last year’s revenue × 100 | — | 24.7% | 18.3% | 11.2% | 8.7% | 9.6% |
| Operating margincalcoperating income ÷ revenue × 100 | 2.1% | 2.1% | 3.3% | 14.4% | 19.0% | 20.1% |
| Net margincalcnet income attributable to the company ÷ revenue × 100 | 19.2% | 5.5% | 0.7% | 11.9% | 16.4% | 18.0% |
| Balance sheet ($M) | ||||||
| Total assets | 66,301 | 95,209 | 98,849 | 99,823 | 102,928 | 112,305 |
| Total equity | 41,493 | 58,131 | 58,359 | 59,646 | 61,173 | 59,142 |
| Interest-bearing debtSum of short- and long-term borrowings, notes/bonds payable | 2,677 | 10,596 | 10,601 | 9,426 | 8,433 | 14,439 |
| Equity ratio | 62.6% | 61.1% | 59.0% | 59.8% | 59.4% | 52.7% |
| ROE | 9.8% | 2.9% | 0.4% | 7.0% | 10.3% | 12.4% |
| Cash flow ($M) | ||||||
| Operating CF | 4,801 | 6,000 | 7,111 | 10,234 | 13,092 | 14,996 |
| Investing CF | -3,971 | -14,536 | -1,989 | -1,327 | -3,163 | -8,590 |
| Financing CF | 1,194 | 7,838 | -3,562 | -7,477 | -9,429 | -8,079 |
| Free cash flowcalccash flow from operations − capital expenditures | 4,091 | 5,283 | 6,313 | 9,498 | 12,434 | 14,402 |
| Cash and equivalents | 6,195 | 5,464 | 7,016 | 8,472 | 8,848 | 7,327 |
| Per share & other | ||||||
| EPS ($) | 4.38 | 1.48 | 0.21 | 4.20 | 6.36 | 7.80 |
| BVPS ($) | 45.15 | 58.78 | 59.49 | 61.43 | 63.59 | 63.66 |
| Dividend per share ($) | — | — | — | — | 1.60 | 1.66 |
| Payout ratiocalcdividend per share ÷ diluted EPS × 100 | — | — | — | — | 25.2% | 21.3% |
| P/E (x) | 51.5 | 157.2 | 799.9 | 66.9 | 53.7 | 27.2 |
| EV/EBITDA (x)calc(market cap + interest-bearing debt − cash and equivalents) ÷ (operating income + depreciation & amortization) | 197.1 | 191.8 | 87.1 | 44.8 | 40.0 | 21.4 |
| P/B (x)calcfiscal year-end closing price ÷ book value per share | 5.00 | 3.96 | 2.82 | 4.58 | 5.37 | 3.33 |
P/B and EV/EBITDA use each period’s period-end (fiscal year-end) figures, not the current share price. Figures without a "calc" tag are as reported in the Form 10-K (the consolidated financial statements and, for older years, earlier 10-Ks), pulled automatically from SEC EDGAR. Where a later filing restated a prior period, the restated figure is used.
Last 8 quarters
Three-month figures from 10-Q filings. Change is versus the same quarter a year earlier. Newest quarter on top.
| Quarter ended | Revenue | Operating income | Net income | Diluted EPS |
|---|---|---|---|---|
| 2026-07-31 | $11.35B+10.8% | $2.33B-0.0% | $3.53B+86.9% | $4.29 |
| 2026-04-30 | $11.13B+13.3% | $2.35B+20.9% | $2.11B+36.7% | $2.42 |
| 2026-01-31 † | $11.2B+12.1% | $1.87B+2.7% | $1.94B+13.8% | — |
| 2025-10-31 | $10.26B+8.6% | $2.19B+15.6% | $2.09B+36.6% | $2.19 |
| 2025-07-31 | $10.24B | $2.33B | $1.89B | $1.96 |
| 2025-04-30 | $9.83B | $1.94B | $1.54B | $1.59 |
| 2025-01-31 † | $9.99B | $1.82B | $1.71B | — |
| 2024-10-31 | $9.44B | $1.89B | $1.53B | $1.58 |
† Fourth quarter = the 10-K’s annual figure minus the first three quarters; quarterly EPS isn’t derived this way because share counts change during the year.
16
Is ROIC above WACC?From SEC data
ROIC (the return on money invested in the business) above WACC (the cost of raising that money) means the company is creating value. WACC is an estimate, so its assumptions can be adjusted below.
ROIC (FY2026)
9.4%
formulaoperating income × (1 − tax rate) ÷ invested capital × 100 *invested capital = interest-bearing debt + total equity (average of beginning/ending)
e.g.$8,331M × (1 − 19%) ÷ $71,594M × 100 = 9.4%
termsOperating income · Effective tax rate · Invested capital · Interest-bearing debt · Total equity
WACC (this site’s estimate)
10.12%
formulacost of equity × equity weight + cost of debt × (1 − tax rate) × debt weight
e.g.Equity weight: $197.22B ÷ ($197.22B + $14.44B) = 93.2%
e.g.Debt weight: $14.44B ÷ ($197.22B + $14.44B) = 6.8%
e.g.WACC: 10.7% × 93.2% + 2.2% × (1 − 19%) × 6.8% = 10.12%
termsCost of equity · Equity weight (E/(D+E)) · Cost of debt · (1 − tax rate) · Debt weight (D/(D+E)) · Market capitalization
How firm is this? With the equity risk premium ±1 point and beta ±0.2, WACC runs 8.3%–12.3% and ROIC − WACC runs −2.9 to +1.1 points. The sign flips inside this range, so the result depends on the assumptions. This describes the latest year and does not predict future value creation.
WACC 10.12% is this site’s estimate under the assumptions below (not a figure the company has published)
- Risk-free rate
- 4.95% (10-year Treasury, 2026-11-03)
- β
- 1.05 (price-derived adjusted beta)
- Equity risk premium
- 5.5%
- Cost of equity
- 10.73%
- Cost of debt
- 2.24%
- Tax rate
- 19% (effective rate, FY2024–FY2026)
- Capital structure (equity : debt)
- 93% : 7%
ROIC over time, vs. WACC
Unit: % — bars = each period's ROIC, horizontal line = latest WACC. Bars above the line are green, below are red
- ROIC (above WACC)
- ROIC (below WACC)
- WACC 10.12%
formulaoperating income × (1 − tax rate) ÷ invested capital × 100 *invested capital = interest-bearing debt + total equity (average of beginning/ending)
termsOperating income · Effective tax rate · Invested capital · Interest-bearing debt · Total equity
formulacost of equity × equity weight + cost of debt × (1 − tax rate) × debt weight
termsCost of equity · Equity weight (E/(D+E)) · Cost of debt · (1 − tax rate) · Debt weight (D/(D+E)) · Market capitalization
Try different WACC assumptions
β and the equity risk premium are estimates with a real range of plausible values — move the sliders to check whether ROIC > WACC still holds. The risk-free rate starts at the 10-year Treasury yield on 2026-11-03 (U.S. Treasury).
Initial β: 1.05 (price-derived adjusted beta. Raw β 1.08, R² 0.17, 130 weeks)
formula0.67 × β + 0.33 (β = the slope of weekly stock returns regressed on weekly market returns)
e.g.0.67 × 1.081 + 0.33 = 1.054
termsβ (beta)
Period 2024-05-10–2026-11-04, using S&P 500 ETF (SPY) as the market proxy. Source: Yahoo Finance price history.
formularisk-free rate + β × equity risk premium
e.g.5.0% + 1.05 × 5.5% = 10.7%
termsCAPM · Risk-free rate · β (beta) · Equity risk premium (market risk premium)
formulafiscal year-end closing price × shares outstanding (= market cap)
formulainterest expense ÷ interest-bearing debt × 100 (clamped to 0–10%; falls back to the risk-free rate if there’s no debt)
17
What the price implies (DCF)From SEC data
A company's value can be written as its free cash flow divided by (cost of capital − perpetual growth). Working that backwards from the market's valuation shows how much growth the share price assumed — compared here with the company's actual past growth.
Growth the price implies (price on 2026-11-04)
3.6%
Perpetual FCF growth: g = r − FCF ÷ EV = 10.1% − 6.5%
Past FCF growth (FY2021–FY2026)
+28.6%
Compound annual rate, 5 years
Past revenue growth (FY2021–FY2026)
+14.3%
Compound annual rate, 5 years
Inputs (FY2026): free cash flow $14.4B (operating CF − capex); enterprise value $221.33B = market cap $216.46B (latest close, 2026-11-04) + debt $14.44B − cash and short-term investments $9.57B; r = WACC of 10.1% using this page’s default assumptions (β 1.05, risk-free 5.0%, market premium 5.5%).
Three WACC scenarios
The same calculation under cautious, base and optimistic cost-of-capital assumptions (risk-free rate fixed at the 10-year Treasury yield). Pick one to load it into the sliders below.
Try your own assumptions
V = FCF ÷ (r − g). It starts at the implied growth rate, where the theoretical value equals today’s enterprise value.
Theoretical enterprise value
$221.57B
FCF $14.4B ÷ (10.1% − 3.6%)
Theoretical ÷ actual enterprise value
1.00x
Above 1x: these assumptions value the business above the market did
How sensitive the answer is
Theoretical ÷ actual enterprise value for each combination of r and g.
| g \ r | 8.1% | 9.1% | 10.1% | 11.1% | 12.1% |
|---|---|---|---|---|---|
| 0% | 0.80x | 0.72x | 0.64x | 0.59x | 0.54x |
| 2% | 1.07x | 0.92x | 0.80x | 0.72x | 0.64x |
| 4% | 1.59x | 1.28x | 1.07x | 0.92x | 0.80x |
| 6% | 3.10x | 2.10x | 1.59x | 1.28x | 1.07x |
| 8% | 65.07x | 5.92x | 3.10x | 2.10x | 1.59x |
A simplified model for seeing what the market price assumes, not a forecast or a target price. It treats free cash flow as growing at one constant rate forever; the result swings widely with small changes in r and g, and is undefined when g reaches r. Free cash flow here is operating cash flow minus capex, which is after interest — a full DCF of enterprise value would use cash flow before interest. Market cap uses the latest close (2026-11-04) × shares at fiscal year-end; free cash flow and WACC inputs are from the latest fiscal year.
18
Earnings qualityFrom SEC dataShow
The same reported profit can mean different things depending on whether it's backed by cash, driven by the core business, or the result of a one-off item. Four checks below.
- ✓
Operating CF ÷ net income: averages 7.69x
Profit is backed by cash coming in.
- ✓
Accrual ratio (latest): -7.0%
A small share of profit rests on accounting estimates.
- ✓
Core-earnings share (operating income ÷ pretax income): 88%
Most profit comes from core operations.
- ✓
Days sales outstanding: 134 → 116 days
No major slowdown in collecting on sales.
Operating CF vs. net income
Unit: $M — operating CF above net income means profit is backed by cash
- Operating CF
- Net income
formulacash flow from operations ÷ net income attributable to the company
termsCash flow from operations (operating CF) · Net income (attributable to the company)
formula(net income − operating CF) ÷ average total assets × 100
termsNet income (attributable to the company) · Cash flow from operations (operating CF) · Total assets
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-03-02
Profit bridge (FY2026)
Unit: $M — what moved profit from operating income to net income
- Profit (each stage)
- Pushed profit up
- Pushed profit down
formulaoperating income ÷ income before income taxes × 100
termsOperating income · Income before income taxes (pretax income)
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-03-02
Receivables & inventory days
Unit: days — days grow when receivables or inventory build up faster than sales
- Days sales outstanding
formulaaverage receivables (opening + closing ÷ 2) ÷ revenue × 365
formulaaverage inventory (opening + closing ÷ 2) ÷ cost of revenue × 365
termsInventory · Cost of revenue (COGS)
Worked examples (latest period)
formulacash flow from operations ÷ net income attributable to the company
e.g.$14,996M ÷ $7,457M = 2.01x
termsCash flow from operations (operating CF) · Net income (attributable to the company)
formulaoperating income ÷ income before income taxes × 100
e.g.$8,331M ÷ $9,520M × 100 = 88%
termsOperating income · Income before income taxes (pretax income)
formulaaverage receivables (opening + closing ÷ 2) ÷ revenue × 365
e.g.($11,945M + $14,339M) ÷ 2 ÷ $41,525M × 365 = 116 days
formulaaverage inventory (opening + closing ÷ 2) ÷ cost of revenue × 365
termsInventory · Cost of revenue (COGS)
19
Who holds the sharesFrom SEC dataShow
How much of the stock large institutional investors report owning on SEC Form 13F, how much the directors and executive officers hold (and how much of the vote they control), and roughly how much is left for individual investors. Shown next to beta so the holder mix can be read alongside how much the stock swings.
Institutions, insiders and everyone else, 13F holdings as of 2026-06-30
“Everyone else” is what remains after shares reported on Form 13F and shares held by directors and executive officers: mostly individual investors, plus non-insider families or foundations and smaller or foreign institutions. The figures have different dates and 13F reports count some shares twice — read it as an approximate split.
- Held by 13F filers
- 86.5%
- Directors & officers (shares)
- 3.5%
- Everyone else (est.)
- 10.0%
- Directors & officers (voting power)
- 3.5%
- Institutional-ownership rank
- 242 of 416
- Beta (adjusted)
- 1.05
individuals and other non-13F holders
no separate voting figure; shown as shares
1 = most institutional; 58% of covered companies have more
above 1 = swings more than the market
- 708.8M shares reported by 2,476 13F filers ÷ 819.0M shares outstanding on 2026-05-21. Option positions are excluded.
- Directors and executive officers as a group, from the proxy statement’s beneficial-ownership table; includes shares they can acquire within 60 days.
- A large “everyone else” share can still reflect a family, trust or foundation stake held outside the board; check the proxy statement’s 5% holders.
Sources: SEC Form 13F data set (holdings as of 2026-06-30) · Form DEF 14A filed 2026-04-16 (beneficial ownership table) · Form 10-Q cover page (shares outstanding as of 2026-05-21)
20
Strengths & weaknessesSite analysis
Strengths
1. Recurring revenue
95% of revenue is subscription and support; current RPO was $35.1B (+16%).
Evidence: Form 10-K (FY2026)
2. Cash generation
Operating cash flow was $15.0B in FY2026 (+15%).
Evidence: Form 10-K (FY2026)
3. AI momentum
Agentforce and Data 360 ARR reached nearly $3.9B in Q2 FY2027 (+210%).
Evidence: Q2 FY2027 press release
Weaknesses
1. Slowing organic growth
FY2026 revenue grew 10%, including about $0.4B from Informatica.
Evidence: Form 10-K (FY2026)
2. Higher leverage
The $25B note issuance for the ASR raises debt and interest costs.
Evidence: 8-Ks filed 2026-03-12 and 2026-03-13
21
What draws investors to itSite analysis
Why the stock can look attractive to investors — each point paired with what has to hold for it to stay true, and the opposing view. This is this site's analysis, not a recommendation to buy or sell.
P/E (FY2026)
27.2x
Price at fiscal year-end ÷ diluted EPS
Dividend yield (FY2026)
0.78%
Dividends per share ÷ fiscal year-end price
Payout ratio (FY2026)
21%
Dividends per share ÷ diluted EPS
FCF yield (FY2026)
7.3%
(Operating CF − capex) ÷ market cap
1. Shareholder returns
Quarterly dividend of $0.416, plus the $25B ASR.
- What has to hold
- Cash flow supports debt service.
- The other side
- The buyback is debt-funded.
Evidence: Form 10-K (FY2026); 8-Ks
2. AI monetization
Agentforce ARR exceeded $1.5B (+240%).
- What has to hold
- AI agents drive new bookings.
- The other side
- AI-native rivals.
Evidence: Q2 FY2027 press release
The fiscal year ends January 31 (FY2026 = February 2025–January 2026). Dividends began in FY2025.
22
ResilienceSite analysisShow
How well the company could absorb a bad year: its financial buffer, how its revenue and profit held up in the worst year on record, and what the 10-K says about the business's exposure to shocks. Figures and filing statements only — no overall rating.
1. Financial buffer (FY2026)
Cash & short-term investments ÷ debt due within a year
2.4x
$9.57B vs. $4B
Interest coverage (operating income ÷ interest expense)
25.7x
$8.33B vs. $324M
Free cash flow ÷ dividends paid
9.1x
$14.4B vs. $1.59B (FCF = operating CF − capex)
2. Worst year in the record, and the recovery
| Figure | Worst year-over-year change | Back to the prior level? |
|---|---|---|
| Revenue | No decline in the record | — |
| Operating income | No decline in the record | — |
Covers only the 6 fiscal years on record (FY2021–FY2026), which may not include a full recession — the worst year here isn’t necessarily how the company would fare in a severe downturn.
3. Business resilience (from the 10-K)
Contracted backlog
$72.4B of remaining performance obligation at January 31, 2026.
Source: Form 10-K (FY2026)
Margins
FY2026 operating income was $8.3B (20% margin).
Source: SEC EDGAR XBRL
23
Legal & regulatory mattersSite analysisShow
Lawsuits, government investigations, enforcement actions and settlements the company discloses — where each stands, what is at stake, and what comes next. From the 10-K's Legal Proceedings and contingencies note, the latest 10-Q, and 8-Ks.
Salesforce faces sex-trafficking suits over its former customer Backpage, several of which have survived Section 230 defenses. Slack IPO securities claims were ordered dismissed by the Ninth Circuit in 2025.
2 open matters
Backpage-related sex-trafficking suits
PendingLawsuitG.G. v. Salesforce (N.D. Ill.); A.B. v. Salesforce (S.D. Tex.); S.M.A., A.S. and other suits (Texas, Washington and elsewhere)
Plaintiffs allege Salesforce CRM software supplied to a Backpage affiliate facilitated trafficking. A California case was dismissed under Section 230. The Seventh Circuit revived G.G. (2023), and the Fifth Circuit affirmed denial of Section 230 summary judgment in A.B. (2024).
- Next step
- A.B. is stayed pending the Backpage criminal proceedings; the other cases are at various stages.
Source: Form 10-Q (quarter ended 2026-07-31) — Legal Proceedings
Slack direct-listing securities suits
PendingClass actionDennee v. Slack Technologies (N.D. Cal.); San Mateo County actions
Claims over Slack's Form S-1 registration statement. After the Supreme Court's 2023 ruling, the Ninth Circuit ordered the federal complaint dismissed with prejudice in February 2025; plaintiffs pursued further proceedings from July 2025.
Source: Form 10-Q (quarter ended 2026-07-31) — Legal Proceedings
Company statement: Management does not expect current matters to have a material adverse impact on its financial statements.
Based on Form 10-Q (quarter ended 2026-07-31) — Legal Proceedings, reviewed 2026-10-18. Routine ordinary-course claims are not listed. “Major” is this site’s judgment of which matters could materially affect results.
24
Risks (including geopolitical)Site analysis
Starting from the 10-K's Risk Factors section, organized by category — geopolitical, currency, raw materials, regulatory, disaster, and more — with impact and likelihood assessed by this site.
Risk map
Vertical = impact on results, horizontal = likelihood. Upper right = most severe. Numbers match the list below (placement is this site’s own assessment).
Likelihood →
"Company disclosure" vs. "this site’s assessment"
The description and mitigation for each risk are this site’s summary of the 10-K’s "Risk Factors" section. Impact and likelihood are this site’s own assessment, not the company’s — where the company discloses its own likelihood assessment, that is noted in the summary.
Impact is judged from how large the affected business is relative to total revenue/profit, and from the risk’s track record of moving results in the past. Likelihood is judged from the filing’s wording and the current business environment (already occurring, or recurring). See the rating criteria.
- 1Competition & technology shift
AI-native competition
- Company disclosure (summarized from the 10-K)
- Competitors include packaged software vendors and AI-native startups that may bypass traditional workflows or displace established user interfaces.
- Company’s stated mitigation
- Embedding Agentforce across products.
- This site’s assessment
- Impact High / Likelihood Med
- 2Customers & sales
Renewals and consumption
- Company disclosure (summarized from the 10-K)
- Customers may not renew or may reduce subscriptions; consumption-based usage may fall short.
- Company’s stated mitigation
- Not stated in the filings.
- This site’s assessment
- Impact Med / Likelihood Med
- 3Funding & liquidity
Debt for buybacks and acquisitions
- Company disclosure (summarized from the 10-K)
- Salesforce borrowed $6.0B for Informatica and issued $25B of notes for the ASR.
- Company’s stated mitigation
- We are also party to the Revolving Loan Credit Agreement, which provides for our $5.0 billion Credit Facility, as well as the Informatica Credit Agreements.
- This site’s assessment
- Impact Med / Likelihood Med
- 4M&A & integration
Acquisition integration
- Company disclosure (summarized from the 10-K)
- Informatica and other acquisitions must be integrated.
- Company’s stated mitigation
- Not stated in the filings.
- This site’s assessment
- Impact Med / Likelihood Med
- 5Information security
Security and data
- Company disclosure (summarized from the 10-K)
- Breaches of customer data would damage trust.
- Company’s stated mitigation
- Not stated in the filings.
- This site’s assessment
- Impact High / Likelihood Med
25
What changed in the risk factorsFrom SEC data
Paragraphs in the latest 10-K's Risk Factors that have little overlap with the year before, and paragraphs that were dropped.
New or substantially reworded (8)
If our security measures, or those of our third-party data center providers, cloud computing platform providers, customers, partners, other third-party vendors or the underlying Internet infrastructure, are breached or otherwise compromised, resulting in the unauthorized access to, disclosure, alteration, corruption, destruction or loss of customer data, our data or our IT systems, or disruption of authorized access thereto, our services may be perceived as insecure, customers may reduce or terminate their use of our services, and we may incur significant reputational harm, legal liability, regulatory scrutiny or a negative financial impact.
• efforts by threat actors, including criminal organizations, state-sponsored actors and nation-states, to launch coordinated cyberattacks or supply chain attacks on our infrastructure or that of our third-party vendors, including through ransomware, destructive malware, distributed denial-of-service attacks or exploitation of previously unknown “zero-day” vulnerabilities;
• vulnerabilities arising from new technologies and infrastructures, including those from acquisitions, enhancements and updates to our existing products, and the adoption and deployment of AI technologies within our products, services, internal systems, which may introduce novel security, data governance, or operational risks;
• evolving and increasingly sophisticated techniques used to breach or disrupt IT systems and infrastructure, including the use or exploitation of AI technologies by threat actors to accelerate, scale or personalize cyberattacks, which may increase speed and effectiveness and limit our ability to anticipate, detect or mitigate such threats;
In the normal course of business, we and our customers are and have been the target of malicious cyberattacks and other security threats. Read more
Although to date we have not identified any security incidents involving our systems that have had a material financial impact on us, there can be no assurance that future incidents will not be material or significant. As our market presence grows, we may face increased risks of cyberattacks and other security threats. Additionally, as AI technologies, including generative and agentic AI, continue to evolve, threat actors are using and exploiting these technologies to enhance the sophistication, scale, speed and effectiveness of security threats that may be more difficult to detect and defend against. Any delay in detecting, containing, or remediating a cybersecurity incident may result in additional harm, and in certain cases the full scope and…
A cybersecurity incident could result in unauthorized access to, or the loss or denial of authorized access to, our IT systems or data, or those of our customers, including intellectual property and other proprietary, sensitive or confidential information. We are subject to contractual, regulatory and other legal obligations to notify relevant stakeholders of certain security incidents. For example, SEC rules require disclosure on Form 8-K of the nature, scope and timing of any material cybersecurity incident and the reasonably likely impact of such incident. Assessing whether an incident is material or reportable may require complex judgment and investigation, and disclosure of an incident may itself adversely affect our reputation, customer relationships and exposure to legal or regulatory proceedings. A security incident or related disclosure could result in loss of confidence in the…
• in the case of foreign acquisitions, challenges with integrating operations across different cultures and languages and addressing the particular economic, currency, political, cybersecurity, regulatory and market risks associated with certain countries;
• AI-native companies and emerging startups that leverage generative AI and large language models as the core foundation of their architecture, offering highly specialized, autonomous, or automated solutions that may bypass traditional business process workflows or displace established user interfaces;
No longer in the text (4)
• efforts by hackers or sophisticated groups, such as criminal organizations, state-sponsored organizations or nation-states, to launch coordinated cyberattacks on internally built infrastructure or on third-party cloud-computing platform providers, including ransomware, destructive malware and distributed denial-of-service attacks;
• evolving techniques used to breach or sabotage IT systems and infrastructure, including as a result of the increased use of AI technologies by bad actors, which are generally not recognized until launched against a target, and could result in our being unable to anticipate or implement adequate measures to prevent such techniques;
In the normal course of business, we are and have been the target of malicious cyberattacks and have experienced other security incidents. Read more
Although, to date, such identified security events have not had a material financial impact, there can be no assurance that future cyberattacks will not be material or significant. Additionally, as our market presence grows, we may face increased risks of cyberattacks or security threats, and as AI technologies, including generative AI models, develop rapidly, threat actors are using these technologies to create new sophisticated attack methods that are increasingly automated, targeted and coordinated and more difficult to defend against.
A security breach or incident could result in unauthorized parties obtaining access to, or the denial of authorized access to, our IT systems or data, or our customers’ systems or data, including intellectual property and proprietary, sensitive or other confidential information. We have contractual and other legal obligations to notify relevant stakeholders of security breaches. For example, SEC rules require disclosure on Form 8-K of the nature, scope and timing of any material cybersecurity incident and the reasonably likely impact of any such incident. A security breach or resulting mandatory disclosure could result in a loss of confidence in the security of our services, damage our reputation, negatively impact our future sales, disrupt our business and lead to increases in insurance premiums and legal, regulatory and financial exposure and liability. Further, there can be no…
25 more paragraphs differ; the filings below have the full text.
Matched automatically, quoted as filed, and may include rewording of an existing risk. Compares Item 1A of the 10-K filed Mar 2, 2026 ↗ with the 10-K filed Mar 5, 2025 ↗.
26
What to watch going forwardSite analysis
- Agentforce ARR and adoption.
- Organic revenue re-acceleration expected by management in H2 FY2027.
- Completion of the $25B ASR.
- Debt levels.
- cRPO growth.
27
Source documentsShow
This page's financial figures come from the Form 10-Ks listed below. Check the original filings for full detail.
Last updated
Analysis last edited: October 14, 2026 · Financial data fetched: October 17, 2026 10:07 (SEC EDGAR) · Source 10-K filed: March 2, 2026
Built on10-K FY2026 · filed 2026-03-02
Next update expectedAfter FY2027’s 10-K is filed (roughly 60–90 days after fiscal year end (sooner for larger filers)), financials and analysis will be refreshed.
This page is this site’s own analysis based on public information, and does not represent Salesforce’s views. It is not a recommendation to buy or sell any security, and this site does not guarantee the accuracy of any figure or statement here. Always verify against the original source documents before making an investment decision.