CRM
SP100NYSESalesforce, Inc.
Technology · Software - Application · United States
Salesforce, Inc. provides customer relationship management technology services that connect companies and customers together in the United States, Europe, and the Asia Pacific. The company offers Agentforce, which enables customers to build, deploy, and manage enterprise-grade, autonomous AI agents at scale, enabling humans and agents to work together; Agentforce Sales, an integrated platform that brings together the power of humans with AI agents to help sales teams for selling, managing, and automating entire sales processes; Agentforce Service, which enables companies in every industry to bring all of their customer, employee, IT, and field service needs onto one integrated AI-powered platform; Data 360, a data engine that gives AI agents their context and serves as the foundation for how customers unify service offerings, making their data actionable for both humans and agents; Informatica, an AI-powered data management platform that enables customers to discover, integrate, govern, and deliver trusted data at scale across hybrid and multi-cloud environments; and Slack, a conversational interface for the agentic enterprise where people and agents work together, connecting knowledge, actions, and data in real time. It also provides marketing platforms; commerce services, which empower shopping experiences across various customer touchpoints; integration and analytics solutions; Salesforce Starter, a suite for small and medium-sized businesses that brings sales, service, marketing, and commerce together; and a field service solution that enables companies to connect service agents, dispatchers, and mobile employees through one centralized platform to schedule and dispatch work, as well as track and manage jobs. It serves financial services, healthcare and life sciences, manufacturing, automotive, and government sectors. Salesforce, Inc. was incorporated in 1999 and is headquartered in San Francisco, California.
www.salesforce.com ↗Shares trade at a moderate 19.2× trailing earnings, easing to 10.7× on forward estimates. Profitability shows a net margin of 18.7% and return on equity of 16.9%. Leverage is elevated at 2.4× net debt/EBITDA. Revenue grew 13.3% year-on-year. It yields 1.1% in dividends. The mean analyst target of USD246.44 sits 48.4% above the current price (Buy, 53 analysts).
business model
Salesforce is a leading enterprise software company providing cloud-based customer relationship management (CRM) and related business applications on a subscription (SaaS) basis. It earns recurring subscription and support revenue from a broad platform spanning sales, service, marketing, commerce, analytics, and integration, increasingly infused with AI.
revenue segments
Revenue is predominantly subscription and support across product clouds including Sales Cloud, Service Cloud, Marketing & Commerce Cloud, Platform (including Slack), Data Cloud/Tableau/MuleSoft (analytics and integration), and newer AI offerings (Einstein/Agentforce), with a smaller professional-services component.
key dependencies
Salesforce depends on enterprise IT spending, subscription renewals and net retention, cross-selling additional clouds to existing customers, successful integration of large acquisitions (Slack, Tableau, MuleSoft), and adoption of its AI and data products.
competitors
Competitors include Microsoft (Dynamics 365 and its broader stack), Oracle, SAP, Adobe (in marketing/experience), ServiceNow, HubSpot (in the mid-market), and various specialized SaaS vendors.
moat
Its moat arises from high switching costs once CRM is embedded in customer workflows, a large ecosystem of apps, integrations, and developers (AppExchange), broad platform breadth enabling cross-sell, and strong brand leadership in CRM.
risks
Risks include slowing enterprise software spending and elongating sales cycles, intense competition from Microsoft, margin and integration scrutiny after aggressive M&A, the need to prove monetization of AI features, and foreign-currency exposure.
Financials & metrics
as of 28 Aug 2026Price is around the middle of its range. Green = nearer the yearly low, red = nearer the high — a position indicator, not a buy/sell signal.
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Full financial statements
Income statement
| Line item | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Total revenue | $41.52B | $37.90B | $34.86B | $31.35B | — |
| Cost of revenue | $9.27B | $8.64B | $8.54B | $8.36B | — |
| Gross profit | $32.26B | $29.25B | $26.32B | $22.99B | — |
| Operating expense | $23.34B | $21.59B | $20.32B | $21.13B | — |
| R&D | $5.99B | $5.49B | $4.91B | $5.05B | — |
| Operating income | $8.92B | $7.67B | $6.00B | $1.86B | — |
| Pretax income | $9.52B | $7.44B | $4.95B | $660.00M | — |
| Tax provision | $2.06B | $1.24B | $814.00M | $452.00M | — |
| Net income | $7.46B | $6.20B | $4.14B | $208.00M | — |
| EBITDA | $12.55B | $11.14B | $9.96B | $5.64B | — |
| Diluted EPS | $7.80 | $6.36 | $4.20 | $0.21 | — |
Balance sheet
| Line item | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Total assets | $112.31B | $102.93B | $99.82B | $98.85B | — |
| Current assets | $28.22B | $29.73B | $29.07B | $26.39B | — |
| Cash & equivalents | $7.33B | $8.85B | $8.47B | $7.02B | — |
| Total liabilities | $53.16B | $41.76B | $40.18B | $40.49B | — |
| Current liabilities | $37.12B | $27.98B | $26.63B | $25.89B | — |
| Total debt | $17.18B | $11.39B | $12.59B | $14.09B | — |
| Long-term debt | $10.44B | $8.43B | $8.43B | $9.42B | — |
| Shareholders' equity | $59.14B | $61.17B | $59.65B | $58.36B | — |
| Retained earnings | $22.22B | $16.37B | $11.72B | $7.58B | — |
| Working capital | -$8.90B | $1.75B | $2.44B | $504.00M | — |
Cash flow
| Line item | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Operating cash flow | $15.00B | $13.09B | $10.23B | $7.11B | — |
| Investing cash flow | -$8.59B | -$3.16B | -$1.33B | -$1.99B | — |
| Financing cash flow | -$8.08B | -$9.43B | -$7.48B | -$3.56B | — |
| Capital expenditure | -$594.00M | -$658.00M | -$736.00M | -$798.00M | — |
| Free cash flow | $14.40B | $12.43B | $9.50B | $6.31B | — |
| Dividends paid | -$1.59B | -$1.54B | $0.00 | $0.00 | — |
| Share buybacks | -$12.60B | -$7.83B | -$7.62B | -$4.00B | — |
| End cash position | $7.33B | $8.85B | $8.47B | $7.02B | — |
Reported figures from public filings via Yahoo Finance. Line coverage varies by company. Not investment advice.
Dividends
Analyst assessment
as of 28 Aug 2026Aggregate consensus only. Named per-analyst targets require a premium source and are not shown; the data model is ready to hold them if one is added.
Technicals
as of 28 Aug 2026News
Sector peers
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