FirmAtlas
Company handbook · CRM · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
CRM · CIK 1108524 · LATEST FILING: 10-Q JUL '26 · FILED AUG 27, 2026
Salesforce, Inc.
$240.70
−6.04 (−2.45%)
Close, Oct 16, 2026 · 52-week $146–269
Salesforce sells business software by subscription, mostly for sales, customer service and marketing, on its Agentforce AI platform. It also sells Slack, Tableau analytics, MuleSoft and Informatica data integration, and commerce software.
Business
- ProductsService Cloud 24% · Sales Cloud 22% · Salesforce Platformand Other 21% · Data 15% · Marketingand Commerce Cloud 13% · Professional Servicesand Other 5% (FY25)
- RegionsAmericas 66% · Europe 23% · Asia-Pacific 10% (FY25)
- CustomersBusinesses of all sizes and governments, worldwide; sold by its own sales force and through partners and resellers
- Cash useFY24–FY25: buybacks $20.4B · acquisitions $12.0B · dividends $3.1B · capex $1.3B
Reinvested 47% of operating cash flow · returned 88% of free cash flow
Last fiscal year
Salesforce, Inc. reported revenue of $41.5B for the year ended Jan 31, 2026 (FY25), up 9.6% from FY24. Net income was $7.5B, operating cash flow $15.0B and free cash flow $14.4B. Source: 10-K filed Mar 2, 2026.
Market cap
$223.6B
P/E
23.1
EV/EBITDA
24.6x
P/B
5.8
Div yield
0.72%
ROIC
10.0%
Revenue 1Y
9.6%/yr
EPS 1Y
22.6%/yr
Shares 1Y
−3%
Loading chart…
Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOMarc Benioff
HQSan Francisco, CA
AuditorErnst & Young LLP
Employees83,334
Year endsJanuary
Revenue by segment · FY25
Service Cloud24%
Sales Cloud22%
Salesforce Platformand Other21%
Data15%
Marketingand Commerce Cloud13%
Professional Servicesand Other5%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
12.5%
−3.8%
4.9%
−2.2%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$36.8B deployed
Capex
$1.3B
3.4%
Acquisitions
$12.0B
32.6%
Dividends
$3.1B
8.5%
Buybacks
$20.4B
55.5%
Operating cash flow over the period: $28.1B. Total debt changed by +$10.0B. R&D of $11.5B is already inside operating costs.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · FY25 = year ended Jan 31, 2026 · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Jul '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
37,895
41,525+9.6%
43,938
YoY
+9.6%
Gross profit
29,252
32,255+10.3%
33,956
Gross margin
77.2%
77.7%+0.5 pp
—
Operating income
7,205
8,331+15.6%
8,735
Operating margin
19.0%
20.1%+1.0 pp
—
EBITDA
8,205
9,531+16.2%
—
EBITDA margin
21.7%
23.0%+1.3 pp
—
Interest expense
272
324+19.1%
—
Interest coverage
30.17x
29.42x−0.75x
—
Net income
6,197
7,457+20.3%
9,662
YoY
+20.3%
Net margin
16.4%
18.0%+1.6 pp
—
EPS (diluted, $)
6.36
7.80+22.6%
10.99
YoY
+22.6%
Balance sheet
Total assets
102,928
112,305+9.1%
109,620
Cash & short-term investments
8,848
7,327−17.2%
—
Accounts receivable
11,945
14,339+20.0%
—
Net PP&E
3,236
3,120−3.6%
—
Other assets
78,899
87,519+10.9%
—
Total liabilities
41,755
53,163+27.3%
71,242
Total debt
8,433
18,439+118.7%
39,288
Other liabilities
33,322
34,724+4.2%
—
Shareholders’ equity
61,173
59,142−3.3%
38,378
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
13,092
14,996+14.5%
15,750
Net income
6,197
7,457+20.3%
—
Depreciation & amortization
1,000
1,200+20.0%
—
Stock-based compensation
3,183
3,509+10.2%
—
Working capital & other
2,712
2,830+4.4%
—
Cash from investing
(3,163)
(8,590)n/m
—
Capex
(658)
(594)n/m
—
Acquisitions
(2,734)
(9,268)n/m
—
Investments bought
(6,879)
(3,763)n/m
—
Investments sold / matured
3,378
2,395−29.1%
—
Other investing
3,730
2,640−29.2%
—
Cash from financing
(9,429)
(8,079)n/m
—
Dividends
(1,537)
(1,587)n/m
—
Buybacks
(7,829)
(12,596)n/m
—
Other financing
(63)
6,104n/m
—
Net change in cash
376
(1,521)−504.5%
—
Free cash flow (OCF − capex)
12,434
14,402+15.8%
15,154
Where the cash went
Operating cash flow
13,092
14,996+14.5%
15,750
Reinvested in the business
3,392
9,862+190.7%
—
% of operating cash flow
25.9%
65.8%
Capex
658
594−9.7%
596
Acquisitions
2,734
9,268+239.0%
—
R&D (memo, already in costs)
5,493
5,993+9.1%
—
Free cash flow
12,434
14,402+15.8%
15,154
YoY
+15.8%
Returned to shareholders
9,366
14,183+51.4%
—
% of free cash flow
75.3%
98.5%
Dividends
1,537
1,587+3.3%
—
Buybacks
7,829
12,596+60.9%
—
Change in total debt
—
10,006
—
Cash left over
—
957
—
FCF conversion (FCF ÷ net income)
200.6%
193.1%−7.5 pp
—
Owner earnings
—
5,669
—
Owner earnings margin
—
13.7%
—
Buyback yield
2.4%
6.4%+4.0 pp
—
Returns & ratios
ROIC (all capital)
9.9%
10.0%+0.1 pp
—
ROIC (operating)
39.5%
40.0%+0.4 pp
—
Net debt / EBITDA
−0.05x
1.17x+1.22x
—
Debt / equity
0.14x
0.31x+0.17x
—
ROE
10.1%
12.6%+2.5 pp
—
ROA
6.0%
6.6%+0.6 pp
—
ROCE
9.6%
11.1%+1.5 pp
—
NOPAT
6,003
6,526+8.7%
—
Invested capital (operating)
15,181
17,459+15.0%
—
Invested capital (all)
60,758
70,254+15.6%
—
Reinvestment rate
—
34.9%
—
Income
Oct '25
Jan '26
Apr '26
Jul '26
Revenue
10,259
11,201
11,133
11,345
vs year-ago quarter
Gross profit
8,004
8,693
8,563
8,696
Gross margin
78.0%
77.6%
76.9%
76.7%
Operating income
2,188
1,869
2,347
2,331
Net income
2,086
1,943
2,107
3,526
vs year-ago quarter
Net margin
20.3%
17.3%
18.9%
31.1%
EPS (diluted, $)
2.19
2.09
2.42
4.29
vs year-ago quarter
Balance sheet
Oct '25
Jan '26
Apr '26
Jul '26
Total assets
95,144
112,305
106,680
109,620
Cash & equivalents
8,978
7,327
8,935
8,310
Total debt
8,438
18,439
39,280
39,288
Shareholders’ equity
60,021
59,142
34,235
38,378
Cash flow
Oct '25
Jan '26
Apr '26
Jul '26
Operating cash flow
2,316
5,464
6,701
1,269
Capex
139
141
145
171
Free cash flow
2,177
5,323
6,556
1,098
vs year-ago quarter