CRMNYSEServices-Prepackaged SoftwareFiscal year ends January 31
Salesforce, Inc.
Financials through Q2 FY2027, quarter ended Jul 31, 2026Last filing: 10-Q on Aug 27, 2026
$242.45+1.75 (+0.73%)
Close on Oct 19, 2026
- Market cap
- $199.05B
- P/E (TTM)
- 22.1
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2012 to 2026
Gross margin
77.7%+3.3 pts over 5 years
Operating margin
20.1%+17.9 pts over 5 years
Net margin
18.0%−1.2 pts over 5 years
Growth rates
Compound annual growth to fiscal 2026
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +9.6% | +9.8% | +14.3% | +20.1% | |
| Gross profit | +10.3% | +11.9% | +15.3% | +20.5% | |
| Operating income | +15.6% | +100.7% | +78.9% | +53.5% | |
| Net income | +20.3% | +229.7% | +12.9% | – | |
| EPS, diluted | +22.6% | +233.7% | +12.2% | – | |
| Free cash flow | +15.8% | +31.6% | +28.6% | +26.4% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2021 | FY2026 | Trend |
|---|---|---|---|---|
| Return on equity | 4.9% | 10.8% | 12.4% | |
| Return on assets | 2.1% | 6.7% | 6.9% | |
| Current ratio | 0.82 | 1.23 | 0.76 | |
| Debt to equity | 0.24 | 0.06 | 0.24 | |
| Net debt to EBITDA | 0.47× | -3.40× | 0.75× | |
| Interest coverage | 2.4× | 4.1× | 25.7× | |
| Capex to revenue | 5.5% | 3.3% | 1.4% | |
| Diluted shares | 700M | 930M | 956M |
Where the cash went
Fiscal 2022 to 2026, five years combined
Salesforce generated $51.43B from operations and spent $38.67B on capital expenditure, dividends and share buybacks. 9% of that went back into the business.
Generated
$51.43B
Used
$38.67B
Capital expenditure$3.50B9%Dividends$3.12B8%Share buybacks$32.05B83%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin18.0%
×Asset turnover0.39×
×Equity multiplier1.79×
=Return on equity, FY202612.4%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2026 | 18.0% | 0.39× | 1.79× | 12.4% |
| FY2025 | 16.4% | 0.37× | 1.68× | 10.3% |
| FY2024 | 11.9% | 0.35× | 1.68× | 7.0% |
| FY2023 | 0.7% | 0.32× | 1.67× | 0.4% |
| FY2022 | 5.5% | 0.33× | 1.62× | 2.9% |
| FY2021 | 19.2% | 0.35× | 1.61× | 10.8% |
| FY2020 | 0.7% | 0.40× | 1.73× | 0.5% |
| FY2019 | 8.4% | 0.50× | 2.03× | 8.5% |
| FY2018 | 3.4% | 0.53× | 2.13× | 3.9% |
| FY2017 | 3.8% | 0.56× | 2.29× | 4.9% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2026 against fiscal 2025
7of 9 tests passed in fiscal 2026. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$7.46B
- Cash generatingOperating cash flow above zero$15.00B
- Return on assets improvedROA up on the prior year6.2% → 7.2%
- Earnings backed by cashOperating cash flow above net income$15.00B vs $7.46B
- Less leverageLong-term debt to assets fell8.2% → 9.3%
- Better liquidityCurrent ratio rose1.06 → 0.76
- No dilutionShare count did not rise974M → 956M
- Gross margin improvedGross margin up on the prior year77.19% → 77.68%
- More efficientAsset turnover rose0.38 → 0.40