Salesforce (CRM) Financials

$273.65 +1.02 (+0.37%)

Closing price 03:59 PM Eastern

Extended Trading

$276.05 +2.40 (+0.88%)

As of 08:00 PM Eastern

Annual Income Statements for Salesforce

This table shows Salesforce's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	1/31/2015	1/31/2016	1/31/2017	1/31/2018	1/31/2019	1/31/2020	1/31/2021	1/31/2022	1/31/2023	1/31/2024	1/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-263	-47	323	360	1,110	126	4,072	1,444	208	4,136	6,197
Consolidated Net Income / (Loss)	-263	-47	323	360	1,110	126	4,072	1,444	208	4,136	6,197
Net Income / (Loss) Continuing Operations	-263	-47	323	360	1,110	126	4,072	1,444	208	4,136	6,197
Total Pre-Tax Income	-213	64	179	420	983	706	2,561	1,532	660	4,950	7,438
Total Operating Income	-146	115	218	454	535	297	455	548	1,030	5,011	7,205
Total Gross Profit	4,084	5,013	6,203	7,767	9,831	12,863	15,814	19,466	22,992	26,316	29,252
Total Revenue	5,374	6,667	8,437	10,540	13,282	17,098	21,252	26,492	31,352	34,857	37,895
Operating Revenue	5,374	6,667	8,437	10,540	13,282	17,098	21,252	26,492	31,352	34,857	37,895
Total Cost of Revenue	1,289	1,655	2,234	2,773	3,451	4,235	5,438	7,026	8,360	8,541	8,643
Operating Cost of Revenue	925	1,242	2,234	2,773	3,451	4,235	5,438	7,026	8,360	8,541	8,643
Total Operating Expenses	4,230	4,898	5,985	7,313	9,296	12,566	15,359	18,918	21,962	21,305	22,047
Selling, General & Admin Expense	680	748	966	1,089	1,346	1,704	2,087	2,598	2,553	2,534	2,836
Marketing Expense	2,757	3,240	3,811	4,671	6,064	7,930	9,674	11,855	13,526	12,877	13,257
Research & Development Expense	793	946	1,208	1,553	1,886	2,766	3,598	4,465	5,055	4,906	5,493
Restructuring Charge	-	-	-	-	-	-	-	0.00	828	988	461
Total Other Income / (Expense), net	-67	-51	-39	-34	448	409	2,106	984	-370	-61	233
Interest & Investment Income	10	15	58	-	542	427	2,170	1,211	-239	-277	-121
Other Income / (Expense), net	-4.25	6.50	-8.00	-34	-94	-18	-64	-227	-131	216	354
Income Tax Expense	50	112	-144	60	-127	580	-1,511	88	452	814	1,241
Basic Earnings per Share	($0.42)	($0.07)	$0.47	$1.50	$1.48	$0.15	$4.48	$1.51	$0.21	$4.25	$6.44
Weighted Average Basic Shares Outstanding	624.15M	661.65M	688M	715M	751M	829M	908M	955M	992M	974M	962M
Diluted Earnings per Share	($0.42)	($0.07)	$0.46	$0.49	$1.43	$0.15	$4.38	$1.48	$0.21	$4.20	$6.36
Weighted Average Diluted Shares Outstanding	624.15M	661.65M	700M	735M	775M	850M	930M	974M	997M	984M	974M
Weighted Average Basic & Diluted Shares Outstanding	650.60M	670.90M	707.50M	731.50M	771M	895M	921M	990M	1B	970M	961M
Cash Dividends to Common per Share	-	-	-	-	-	-	-	-	-	-	$1.60

This table shows Salesforce's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	7/31/2022	10/31/2022	1/31/2023	4/30/2023	7/31/2023	10/31/2023	1/31/2024	4/30/2024	7/31/2024	10/31/2024	1/31/2025
Net Income / (Loss) Attributable to Common Shareholders	68	210	-98	199	1,267	1,224	1,446	1,533	1,429	1,527	1,708
Consolidated Net Income / (Loss)	68	210	-98	199	1,267	1,224	1,446	1,533	1,429	1,527	1,708
Net Income / (Loss) Continuing Operations	68	210	-98	199	1,267	1,224	1,446	1,533	1,429	1,527	1,708
Total Pre-Tax Income	181	475	33	326	1,492	1,487	1,645	1,867	1,837	1,746	1,988
Total Operating Income	193	460	357	412	1,476	1,501	1,622	1,709	1,783	1,893	1,820
Total Gross Profit	5,593	5,749	6,284	6,122	6,490	6,565	7,139	6,971	7,166	7,339	7,776
Total Revenue	7,720	7,837	8,384	8,247	8,603	8,720	9,287	9,133	9,325	9,444	9,993
Operating Revenue	7,720	7,837	8,384	8,247	8,603	8,720	9,287	9,133	9,325	9,444	9,993
Total Cost of Revenue	2,127	2,088	2,100	2,125	2,113	2,155	2,148	2,162	2,159	2,105	2,217
Operating Cost of Revenue	2,127	2,088	2,100	2,125	2,113	2,155	2,148	2,162	2,159	2,105	2,217
Total Operating Expenses	5,400	5,289	5,927	5,710	5,014	5,064	5,517	5,262	5,383	5,446	5,956
Selling, General & Admin Expense	647	664	586	638	632	632	632	647	711	711	767
Marketing Expense	3,424	3,345	3,385	3,154	3,113	3,173	3,437	3,239	3,224	3,323	3,471
Research & Development Expense	1,329	1,280	1,128	1,207	1,220	1,204	1,275	1,368	1,349	1,356	1,420
Restructuring Charge	0.00	0.00	828	711	49	55	173	8.00	99	56	298
Total Other Income / (Expense), net	-12	15	-324	-86	16	-14	23	158	54	-147	168
Interest & Investment Income	45	23	-314	-141	-29	-72	-35	37	-37	-217	96
Other Income / (Expense), net	-57	-8.00	-10	55	45	58	58	121	91	70	72
Income Tax Expense	113	265	131	127	225	263	199	334	408	219	280
Basic Earnings per Share	$0.07	$0.21	($0.10)	$0.20	$1.30	$1.26	$1.49	$1.58	$1.48	$1.60	$1.78
Weighted Average Basic Shares Outstanding	997M	997M	992M	980M	975M	972M	974M	970M	964M	956M	962M
Diluted Earnings per Share	$0.07	$0.21	($0.10)	$0.20	$1.28	$1.25	$1.47	$1.56	$1.47	$1.58	$1.75
Weighted Average Diluted Shares Outstanding	1.00B	1B	997M	988M	986M	981M	984M	985M	973M	965M	974M
Weighted Average Basic & Diluted Shares Outstanding	1B	1B	1B	974M	973M	968M	970M	969M	956M	957M	961M

This table details how cash moves in and out of Salesforce's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	1/31/2015	1/31/2016	1/31/2017	1/31/2018	1/31/2019	1/31/2020	1/31/2021	1/31/2022	1/31/2023	1/31/2024	1/31/2025
Net Change in Cash & Equivalents	126	250	449	948	126	1,476	2,050	-731	1,552	1,456	376
Net Cash From Operating Activities	1,181	1,672	2,162	2,738	3,398	4,331	4,801	6,000	7,111	10,234	13,092
Net Cash From Continuing Operating Activities	1,181	1,672	2,162	2,738	3,398	4,331	4,801	6,000	7,111	10,234	13,092
Net Income / (Loss) Continuing Operations	-263	-47	323	360	1,110	126	4,072	1,444	208	4,136	6,197
Consolidated Net Income / (Loss)	-263	-47	323	360	1,110	126	4,072	1,444	208	4,136	6,197
Depreciation Expense	448	526	632	784	982	2,135	2,846	3,298	3,786	3,959	3,477
Amortization Expense	297	347	501	592	737	876	1,058	1,348	1,668	1,925	2,095
Non-Cash Adjustments To Reconcile Net Income	559	535	789	1,350	1,263	2,059	-1,756	1,914	2,917	2,815	2,767
Changes in Operating Assets and Liabilities, net	139	312	-83	-348	-694	-865	-1,419	-2,004	-1,468	-2,601	-1,444
Net Cash From Investing Activities	-698	-1,488	-2,684	-2,011	-5,308	-2,980	-3,971	-14,536	-1,989	-1,327	-3,163
Net Cash From Continuing Investing Activities	-698	-1,488	-2,684	-2,011	-5,308	-2,980	-3,971	-14,536	-1,989	-1,327	-3,163
Purchase of Property, Plant & Equipment	-290	-710	-464	-534	-595	-643	-710	-717	-798	-736	-658
Acquisitions	38	-59	-3,193	-25	-5,115	-369	-1,281	-14,876	-439	-82	-2,734
Purchase of Investments	-874	-1,525	-1,180	-2,219	-1,430	-4,625	-5,902	-7,392	-5,327	-4,257	-7,418
Sale and/or Maturity of Investments	331	558	2,073	767	1,832	2,657	3,922	8,449	4,575	3,748	7,647
Net Cash From Financing Activities	-318	73	998	221	2,010	164	1,194	7,838	-3,562	-7,477	-9,429
Net Cash From Continuing Financing Activities	-318	73	998	221	2,010	164	1,194	7,838	-3,562	-7,477	-9,429
Repayment of Debt	-925	-382	-648	-429	-1,529	-503	-4.00	-1,201	-4.00	-1,182	-1,000
Repurchase of Common Equity	-	-	-	-	-	-	0.00	0.00	-4,000	-7,620	-7,829
Payment of Dividends	-	-	-	-	-	-	-	-	0.00	0.00	-1,537
Issuance of Common Equity	309	455	401	650	704	840	1,321	1,289	861	1,954	1,540
Other Financing Activities, net	-	-	-	-	-131	-173	-103	-156	-419	-629	-603
Effect of Exchange Rate Changes	-38	-7.11	-27	-	26	-39	26	-33	-8.00	26	-124
Cash Interest Paid	25	38	55	-40	94	106	96	187	275	254	233
Cash Income Taxes Paid	36	31	36	-53	83	129	216	196	510	1,027	2,061

This table details how cash moves in and out of Salesforce's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	7/31/2022	10/31/2022	1/31/2023	4/30/2023	7/31/2023	10/31/2023	1/31/2024	4/30/2024	7/31/2024	10/31/2024	1/31/2025
Net Change in Cash & Equivalents	72	-855	940	2,139	-2,383	-319	2,019	1,486	-2,276	315	851
Net Cash From Operating Activities	334	313	2,788	4,491	808	1,532	3,403	6,247	892	1,983	3,970
Net Cash From Continuing Operating Activities	334	313	2,788	4,491	808	1,532	3,403	6,247	892	1,983	3,970
Net Income / (Loss) Continuing Operations	68	210	-98	199	1,267	1,224	1,446	1,533	1,429	1,527	1,708
Consolidated Net Income / (Loss)	68	210	-98	199	1,267	1,224	1,446	1,533	1,429	1,527	1,708
Depreciation Expense	907	941	1,032	1,254	890	862	953	879	907	814	877
Amortization Expense	408	423	443	470	476	482	497	517	526	525	527
Non-Cash Adjustments To Reconcile Net Income	1,907	-3,606	6,240	-1,693	-462	-1,212	6,182	380	-3,289	-1,154	6,830
Changes in Operating Assets and Liabilities, net	-2,956	2,345	-4,829	4,261	-1,363	176	-5,675	2,938	1,319	271	-5,972
Net Cash From Investing Activities	-377	533	312	347	-1,152	-54	-468	-2,651	2,641	-217	-2,936
Net Cash From Continuing Investing Activities	-377	533	312	347	-1,152	-54	-468	-2,651	2,641	-217	-2,936
Purchase of Property, Plant & Equipment	-203	-198	-218	-243	-180	-166	-147	-163	-137	-204	-154
Acquisitions	-25	-	-	0.00	-	-82	-	-338	-	-179	-2,217
Purchase of Investments	-1,360	-452	-720	-473	-1,980	-764	-1,040	-3,455	-654	-1,306	-2,003
Sale and/or Maturity of Investments	1,211	1,183	1,250	1,063	1,008	958	719	1,305	3,432	1,472	1,438
Net Cash From Financing Activities	136	-1,678	-2,221	-2,716	-2,050	-1,765	-946	-2,108	-5,802	-1,446	-73
Net Cash From Continuing Financing Activities	136	-1,678	-2,221	-2,716	-2,050	-1,765	-946	-2,108	-5,802	-1,446	-73
Repurchase of Common Equity	-	-1,677	-2,323	-2,054	-1,949	-1,925	-1,692	-2,133	-4,335	-1,285	-76
Payment of Dividends	-	-	-	0.00	-	-	-	-388	-384	-382	-383
Issuance of Common Equity	181	233	173	449	362	274	869	533	202	321	484
Other Financing Activities, net	-44	-233	-70	-110	-282	-114	-123	-120	-285	-100	-98
Effect of Exchange Rate Changes	-	-	61	17	11	-32	30	-	-	-5.00	-110
Cash Interest Paid	92	46	91	46	90	28	90	28	90	28	87
Cash Income Taxes Paid	96	113	120	122	129	458	318	94	823	471	673

This table presents Salesforce's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	1/31/2015	1/31/2016	1/31/2017	1/31/2018	1/31/2019	1/31/2020	1/31/2021	1/31/2022	1/31/2023	1/31/2024	1/31/2025
Total Assets	10,665	12,763	17,585	21,984	30,737	55,126	66,301	95,209	98,849	99,823	102,928
Total Current Assets	3,515	5,731	5,997	9,584	10,683	15,963	21,889	22,850	26,395	29,074	29,727
Cash & Equivalents	908	1,158	1,607	2,543	2,669	4,145	6,195	5,464	7,016	8,472	8,848
Short-Term Investments	87	1,567	602	1,978	1,673	3,802	5,771	5,073	5,492	5,722	5,184
Accounts Receivable	1,906	2,496	3,197	3,921	4,924	6,174	7,786	9,739	10,755	11,414	11,945
Prepaid Expenses	245	251	280	471	629	916	991	1,120	1,356	1,561	1,779
Other Current Assets	369	259	312	671	788	926	1,146	1,454	1,776	1,905	1,971
Plant, Property, & Equipment, net	1,126	1,716	1,788	1,947	2,051	2,375	2,459	2,815	3,702	3,689	3,236
Total Noncurrent Assets	6,025	5,316	9,801	10,453	18,003	36,788	41,953	69,544	68,752	67,060	69,965
Long-Term Investments	1,186	521	567	677	1,302	1,963	3,909	4,784	4,672	4,848	4,852
Goodwill	3,783	3,850	7,264	7,314	12,851	25,134	26,318	47,937	48,568	48,620	51,283
Intangible Assets	433	613	1,255	973	1,923	4,724	4,114	8,978	7,125	5,278	4,428
Other Noncurrent Operating Assets	623	332	715	1,489	1,927	4,967	7,612	7,845	8,387	8,314	9,402
Total Liabilities & Shareholders' Equity	10,665	12,763	17,585	21,984	30,737	55,126	66,301	95,209	98,849	99,823	102,928
Total Liabilities	6,690	7,760	10,085	11,608	15,132	21,241	24,808	37,078	40,490	40,177	41,755
Total Current Liabilities	4,390	5,617	7,295	10,067	11,255	14,845	17,728	21,788	25,891	26,631	27,980
Short-Term Debt	-	-	0.00	1,025	-	-	-	4.00	1,182	999	0.00
Accounts Payable	1,103	1,349	1,753	76	2,691	3,433	4,355	5,470	6,743	6,111	6,658
Current Deferred Revenue	3,287	4,268	5,543	6,995	8,564	10,662	12,607	15,628	17,376	19,003	20,743
Other Current Liabilities	-	-	-	-	0.00	750	766	686	590	518	579
Total Noncurrent Liabilities	2,300	2,143	2,789	1,541	3,877	6,396	7,080	15,290	14,599	13,546	13,775
Long-Term Debt	1,371	1,286	2,008	695	3,173	2,673	2,673	10,592	9,419	8,427	8,433
Other Noncurrent Operating Liabilities	894	833	781	846	704	3,723	4,407	4,698	5,180	5,119	5,342
Commitments & Contingencies	-	0.00	0.00	0.00	-	-	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	3,975	5,003	7,500	10,376	15,605	33,885	41,493	58,131	58,359	59,646	61,173
Total Preferred & Common Equity	3,975	5,003	7,500	10,376	15,605	33,885	41,493	58,131	58,359	59,646	61,173
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	3,975	5,003	7,500	10,376	15,605	33,885	41,493	58,131	58,359	59,646	61,173
Common Stock	4,605	5,706	8,041	9,753	13,928	32,117	35,602	50,920	55,048	59,842	64,577
Retained Earnings	-606	-653	-465	635	1,735	1,861	5,933	7,377	7,585	11,721	16,369
Treasury Stock	-	-	-	-	-	-	-	0.00	-4,000	-11,692	-19,507
Accumulated Other Comprehensive Income / (Loss)	-24	-50	-76	-12	-58	-93	-42	-166	-274	-225	-266

This table presents Salesforce's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	4/30/2022	7/31/2022	10/31/2022	1/31/2023	4/30/2023	7/31/2023	10/31/2023	1/31/2024	4/30/2024	7/31/2024	10/31/2024
Total Assets	93,022	94,148	91,884	98,849	93,541	92,447	91,022	99,823	96,180	92,180	91,395
Total Current Assets	20,411	21,246	19,209	26,395	21,981	21,138	20,202	29,074	25,604	21,862	21,425
Cash & Equivalents	6,859	6,931	6,076	7,016	9,155	6,772	6,453	8,472	9,958	7,682	7,997
Short-Term Investments	6,644	6,602	5,842	5,492	4,822	5,625	5,410	5,722	7,712	4,954	4,760
Accounts Receivable	3,952	4,745	4,275	10,755	4,632	5,400	4,850	11,414	4,273	5,391	4,741
Prepaid Expenses	1,478	1,437	1,467	1,356	1,600	1,560	1,732	1,561	1,796	1,984	2,091
Other Current Assets	1,478	1,531	1,549	1,776	1,772	1,781	1,757	1,905	1,865	1,851	1,836
Plant, Property, & Equipment, net	2,868	3,375	3,514	3,702	3,695	3,876	3,807	3,689	3,506	3,580	3,416
Total Noncurrent Assets	69,743	69,527	69,161	68,752	67,865	67,433	67,013	67,060	67,070	66,738	66,554
Long-Term Investments	4,936	5,124	5,124	4,672	4,633	4,778	4,774	4,848	4,978	5,017	4,845
Goodwill	48,319	48,568	48,555	48,568	48,567	48,566	48,614	48,620	48,940	48,941	49,093
Intangible Assets	8,559	8,072	7,598	7,125	6,654	6,182	5,737	5,278	4,869	4,415	4,119
Other Noncurrent Operating Assets	7,929	7,763	7,884	8,387	8,011	7,907	7,888	8,314	8,283	8,365	8,497
Total Liabilities & Shareholders' Equity	93,022	94,148	91,884	98,849	93,541	92,447	91,022	99,823	96,180	92,180	91,395
Total Liabilities	34,146	34,050	32,533	40,490	36,129	34,365	32,932	40,177	36,497	34,547	32,870
Total Current Liabilities	19,899	20,080	18,227	25,891	21,626	20,805	19,394	26,631	23,149	21,001	19,375
Short-Term Debt	1,002	1,183	1,182	1,182	181	999	999	999	1,000	0.00	0.00
Accounts Payable	4,603	5,446	5,285	6,743	5,733	5,059	5,308	6,111	5,520	5,220	5,331
Current Deferred Revenue	13,636	12,825	11,193	17,376	15,121	14,237	12,564	19,003	16,061	15,222	13,472
Other Current Liabilities	658	626	567	590	591	510	523	518	568	559	572
Total Noncurrent Liabilities	14,247	13,970	14,306	14,599	14,503	13,560	13,538	13,546	13,348	13,546	13,495
Long-Term Debt	9,595	9,416	9,418	9,419	9,421	8,424	8,426	8,427	8,429	8,430	8,432
Other Noncurrent Operating Liabilities	4,652	4,554	4,888	5,180	5,082	5,136	5,112	5,119	4,919	5,116	5,063
Total Equity & Noncontrolling Interests	58,876	60,098	59,351	58,359	57,412	58,082	58,090	59,646	59,683	57,633	58,525
Total Preferred & Common Equity	58,876	60,098	59,351	58,359	57,412	58,082	58,090	59,646	59,683	57,633	58,525
Total Common Equity	58,876	60,098	59,351	58,359	57,412	58,082	58,090	59,646	59,683	57,633	58,525
Common Stock	51,781	52,980	53,892	55,048	56,027	57,346	58,150	59,842	60,947	62,144	63,115
Retained Earnings	7,405	7,473	7,683	7,585	7,784	9,051	10,275	11,721	12,866	13,907	15,049
Treasury Stock	-	-	-1,743	-4,000	-6,144	-8,057	-10,004	-11,692	-13,860	-18,182	-19,414
Accumulated Other Comprehensive Income / (Loss)	-310	-355	-481	-274	-255	-258	-331	-225	-270	-236	-225

This table displays calculated financial ratios and metrics derived from Salesforce's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	1/31/2015	1/31/2016	1/31/2017	1/31/2018	1/31/2019	1/31/2020	1/31/2021	1/31/2022	1/31/2023	1/31/2024	1/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	32.00%	24.07%	26.54%	24.93%	26.02%	28.73%	24.30%	24.66%	18.35%	11.18%	8.72%
EBITDA Growth	84.64%	66.82%	35.15%	33.73%	20.27%	52.31%	30.55%	15.65%	27.90%	74.89%	18.18%
EBIT Growth	48.48%	181.01%	72.95%	100.00%	5.00%	-36.73%	40.14%	-17.90%	180.06%	481.42%	44.61%
NOPAT Growth	49.09%	16.82%	563.93%	-1.08%	55.24%	-91.23%	1,264.86%	-28.60%	-37.16%	1,189.86%	43.37%
Net Income Growth	-13.14%	81.95%	781.06%	11.46%	208.33%	-88.65%	3,131.75%	-64.54%	-85.60%	1,888.46%	49.83%
EPS Growth	-7.69%	83.33%	757.14%	6.52%	191.84%	-89.51%	2,820.00%	-66.21%	-85.81%	1,900.00%	51.43%
Operating Cash Flow Growth	34.95%	41.53%	29.30%	26.64%	24.11%	27.46%	10.85%	24.97%	18.52%	43.92%	27.93%
Free Cash Flow Firm Growth	113.10%	-89.43%	-8,974.73%	106.79%	-2,616.24%	-139.01%	93.17%	-2,575.06%	107.93%	204.37%	-10.55%
Invested Capital Growth	-12.53%	-3.85%	121.26%	2.46%	90.40%	102.89%	6.17%	88.77%	-3.04%	-3.38%	1.38%
Revenue Q/Q Growth	4.27%	7.14%	6.70%	3.31%	7.49%	7.87%	4.76%	6.04%	3.49%	2.66%	1.90%
EBITDA Q/Q Growth	14.80%	8.61%	27.16%	-0.59%	-14.46%	26.01%	13.09%	-5.12%	13.71%	13.34%	1.28%
EBIT Q/Q Growth	29.32%	72.25%	140.26%	11.13%	-52.07%	2,436.36%	104.71%	-55.23%	180.06%	34.23%	2.89%
NOPAT Q/Q Growth	32.13%	75.76%	-20.88%	39.47%	0.34%	-85.46%	91.87%	-30.23%	1.02%	43.94%	2.41%
Net Income Q/Q Growth	16.22%	45.91%	57.13%	46.38%	16.35%	-82.88%	14.48%	-16.96%	-25.18%	59.57%	4.41%
EPS Q/Q Growth	16.00%	46.15%	53.33%	53.13%	12.60%	-83.87%	15.87%	-17.78%	-19.23%	59.70%	4.61%
Operating Cash Flow Q/Q Growth	6.18%	8.45%	12.24%	14.47%	8.95%	416.59%	-50.28%	-3.10%	12.78%	6.39%	4.53%
Free Cash Flow Firm Q/Q Growth	84.47%	119.07%	-28.44%	8.27%	15.82%	2.33%	32.97%	-2.72%	17.34%	20.19%	-28.08%
Invested Capital Q/Q Growth	-6.77%	-6.07%	6.81%	8.19%	-3.91%	-4.19%	-4.30%	-1.56%	-2.13%	-1.67%	2.77%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	76.01%	75.18%	73.52%	73.69%	74.02%	75.23%	74.41%	73.48%	73.34%	75.50%	77.19%
EBITDA Margin	11.09%	14.90%	15.92%	17.04%	16.26%	19.24%	20.21%	18.75%	20.26%	31.88%	34.65%
Operating Margin	-2.71%	1.72%	2.58%	4.31%	4.03%	1.74%	2.14%	2.07%	3.29%	14.38%	19.01%
EBIT Margin	-2.79%	1.82%	2.49%	3.98%	3.32%	1.63%	1.84%	1.21%	2.87%	15.00%	19.95%
Profit (Net Income) Margin	-4.89%	-0.71%	3.83%	3.42%	8.36%	0.74%	19.16%	5.45%	0.66%	11.87%	16.35%
Tax Burden Percent	123.28%	-73.78%	180.45%	85.71%	112.92%	17.85%	159.00%	94.26%	31.52%	83.56%	83.32%
Interest Burden Percent	142.16%	52.94%	85.24%	100.00%	222.90%	253.05%	654.99%	477.26%	73.41%	94.70%	98.40%
Effective Tax Rate	0.00%	173.78%	-80.45%	14.29%	-12.92%	82.15%	-59.00%	5.74%	68.48%	16.44%	16.68%
Return on Invested Capital (ROIC)	-3.01%	-2.73%	8.05%	5.71%	6.03%	0.27%	2.63%	1.26%	0.62%	8.23%	11.92%
ROIC Less NNEP Spread (ROIC-NNEP)	121.94%	-5.43%	13.21%	7.08%	-10.98%	-1.24%	-30.13%	-9.08%	2.68%	8.85%	9.98%
Return on Net Nonoperating Assets (RNNOA)	-4.46%	1.68%	-2.88%	-1.68%	2.51%	0.24%	8.17%	1.63%	-0.26%	-1.22%	-1.66%
Return on Equity (ROE)	-7.46%	-1.06%	5.17%	4.03%	8.54%	0.51%	10.80%	2.90%	0.36%	7.01%	10.26%
Cash Return on Invested Capital (CROIC)	10.37%	1.20%	-67.44%	3.28%	-56.23%	-67.67%	-3.35%	-60.22%	3.71%	11.66%	10.54%
Operating Return on Assets (OROA)	-1.51%	1.04%	1.38%	2.12%	1.67%	0.65%	0.64%	0.40%	0.93%	5.26%	7.46%
Return on Assets (ROA)	-2.65%	-0.40%	2.13%	1.82%	4.21%	0.29%	6.71%	1.79%	0.21%	4.16%	6.11%
Return on Common Equity (ROCE)	-7.43%	-1.06%	5.17%	4.03%	8.54%	0.51%	10.80%	2.90%	0.36%	7.01%	10.26%
Return on Equity Simple (ROE_SIMPLE)	-6.61%	-0.95%	4.31%	3.47%	7.11%	0.37%	9.81%	2.48%	0.36%	6.93%	10.13%
Net Operating Profit after Tax (NOPAT)	-102	-85	393	389	604	53	723	517	325	4,187	6,003
NOPAT Margin	-1.90%	-1.27%	4.66%	3.69%	4.55%	0.31%	3.40%	1.95%	1.04%	12.01%	15.84%
Net Nonoperating Expense Percent (NNEP)	-124.94%	2.70%	-5.16%	-1.37%	17.01%	1.50%	32.77%	10.35%	-2.06%	-0.63%	1.93%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	0.47%	6.06%	8.62%
Cost of Revenue to Revenue	23.99%	24.82%	26.48%	26.31%	25.98%	24.77%	25.59%	26.52%	26.67%	24.50%	22.81%
SG&A Expenses to Revenue	12.65%	11.22%	11.45%	10.33%	10.13%	9.97%	9.82%	9.81%	8.14%	7.27%	7.48%
R&D to Revenue	14.76%	14.19%	14.32%	14.73%	14.20%	16.18%	16.93%	16.85%	16.12%	14.07%	14.50%
Operating Expenses to Revenue	78.72%	73.46%	70.94%	69.38%	69.99%	73.49%	72.27%	71.41%	70.05%	61.12%	58.18%
Earnings before Interest and Taxes (EBIT)	-150	121	210	420	441	279	391	321	899	5,227	7,559
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	596	994	1,343	1,796	2,160	3,290	4,295	4,967	6,353	11,111	13,131
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	8.94	9.01	7.33	7.91	7.43	4.76	4.96	3.93	2.86	4.54	5.35
Price to Tangible Book Value (P/TBV)	0.00	83.47	0.00	39.27	139.50	40.04	18.61	187.90	62.65	47.07	59.87
Price to Revenue (P/Rev)	6.61	6.76	6.51	7.78	8.73	9.43	9.68	8.62	5.33	7.76	8.63
Price to Earnings (P/E)	0.00	0.00	170.13	227.89	104.44	1,279.74	50.54	158.23	803.06	65.42	52.77
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.47%
Earnings Yield	0.00%	0.00%	0.59%	0.44%	0.96%	0.08%	1.98%	0.63%	0.12%	1.53%	1.90%
Enterprise Value to Invested Capital (EV/IC)	10.97	14.17	8.05	11.39	8.64	5.78	6.81	4.19	3.10	5.22	6.24
Enterprise Value to Revenue (EV/Rev)	6.46	6.46	6.42	7.45	8.54	9.01	9.06	8.45	5.12	7.49	8.35
Enterprise Value to EBITDA (EV/EBITDA)	58.27	43.38	40.35	43.74	52.53	46.81	44.84	45.05	25.26	23.49	24.11
Enterprise Value to EBIT (EV/EBIT)	0.00	354.98	258.02	187.06	257.27	552.01	492.57	697.07	178.49	49.93	41.88
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	137.74	201.89	187.80	2,905.54	266.22	433.21	494.32	62.33	52.73
Enterprise Value to Operating Cash Flow (EV/OCF)	29.38	25.78	25.06	28.69	33.39	35.56	40.12	37.29	22.56	25.50	24.18
Enterprise Value to Free Cash Flow (EV/FCFF)	98.73	1,160.42	0.00	351.01	0.00	0.00	0.00	0.00	82.26	43.96	59.61
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.34	0.26	0.27	0.17	0.20	0.08	0.06	0.18	0.18	0.16	0.14
Long-Term Debt to Equity	0.34	0.26	0.27	0.07	0.20	0.08	0.06	0.18	0.16	0.14	0.14
Financial Leverage	-0.04	-0.31	-0.22	-0.24	-0.23	-0.20	-0.27	-0.18	-0.10	-0.14	-0.17
Leverage Ratio	2.81	2.61	2.43	2.21	2.03	1.74	1.61	1.62	1.67	1.68	1.68
Compound Leverage Factor	4.00	1.38	2.07	2.21	4.52	4.39	10.55	7.74	1.22	1.59	1.65
Debt to Total Capital	25.64%	20.45%	21.12%	14.22%	16.90%	7.31%	6.05%	15.42%	15.37%	13.65%	12.12%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	8.47%	0.00%	0.00%	0.00%	0.01%	1.71%	1.45%	0.00%
Long-Term Debt to Total Capital	25.64%	20.45%	21.12%	5.75%	16.90%	7.31%	6.05%	15.41%	13.66%	12.20%	12.12%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	74.36%	79.55%	78.88%	85.78%	83.10%	92.69%	93.95%	84.58%	84.63%	86.35%	87.88%
Debt to EBITDA	2.30	1.29	1.50	0.96	1.47	0.81	0.62	2.13	1.67	0.85	0.64
Net Debt to EBITDA	-1.36	-1.97	-0.57	-1.94	-1.14	-2.20	-3.07	-0.95	-1.04	-0.87	-0.80
Long-Term Debt to EBITDA	2.30	1.29	1.50	0.39	1.47	0.81	0.62	2.13	1.48	0.76	0.64
Debt to NOPAT	-13.45	-15.17	5.11	4.42	5.25	50.43	3.69	20.51	32.66	2.25	1.40
Net Debt to NOPAT	7.95	23.12	-1.95	-8.94	-4.09	-136.53	-18.25	-9.15	-20.27	-2.30	-1.74
Long-Term Debt to NOPAT	-13.45	-15.17	5.11	1.79	5.25	50.43	3.69	20.51	29.02	2.01	1.40
Altman Z-Score	3.46	3.98	3.66	4.80	5.13	4.95	5.52	4.11	2.94	4.76	5.55
Noncontrolling Interest Sharing Ratio	0.38%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.80	1.02	0.82	0.95	0.95	1.08	1.23	1.05	1.02	1.09	1.06
Quick Ratio	0.66	0.93	0.74	0.84	0.82	0.95	1.11	0.93	0.90	0.96	0.93
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	352	37	-3,296	224	-5,632	-13,461	-920	-24,598	1,951	5,937	5,311
Operating Cash Flow to CapEx	1,757.74%	290.04%	465.95%	512.73%	571.09%	673.56%	676.20%	836.82%	891.10%	1,390.49%	1,989.67%
Free Cash Flow to Firm to Interest Expense	4.80	0.51	-37.04	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	16.13	23.07	24.29	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	15.21	15.11	19.08	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.54	0.57	0.56	0.53	0.50	0.40	0.35	0.33	0.32	0.35	0.37
Accounts Receivable Turnover	3.29	3.03	2.96	2.96	3.00	3.08	3.04	3.02	3.06	3.14	3.24
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	4.54	4.69	4.82	5.64	6.64	7.73	8.79	10.05	9.62	9.43	10.94
Accounts Payable Turnover	1.27	1.35	1.44	3.03	2.49	1.38	1.40	1.43	1.37	1.33	1.35
Days Sales Outstanding (DSO)	110.93	120.49	123.14	123.24	121.53	118.46	119.88	120.73	119.30	116.07	112.50
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	288.44	270.53	253.41	120.35	146.33	263.90	261.37	255.20	266.61	274.66	269.62
Cash Conversion Cycle (CCC)	-177.50	-150.05	-130.27	2.89	-24.79	-145.45	-141.49	-134.48	-147.32	-158.59	-157.13
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,165	3,043	6,733	6,898	13,134	26,648	28,291	53,406	51,780	50,030	50,722
Invested Capital Turnover	1.58	2.15	1.73	1.55	1.33	0.86	0.77	0.65	0.60	0.68	0.75
Increase / (Decrease) in Invested Capital	-453	-122	3,690	165	6,236	13,514	1,643	25,115	-1,626	-1,750	692
Enterprise Value (EV)	34,708	43,103	54,184	78,564	113,454	154,010	192,596	223,761	160,458	260,968	316,556
Market Capitalization	35,518	45,063	54,952	82,042	115,925	161,247	205,798	228,486	167,037	270,584	327,007
Book Value per Share	$6.30	$7.53	$10.77	$14.37	$20.40	$38.20	$45.35	$59.02	$58.36	$61.62	$63.92
Tangible Book Value per Share	($0.38)	$0.81	($1.46)	$2.89	$1.09	$4.54	$12.09	$1.23	$2.67	$5.94	$5.71
Total Capital	5,346	6,289	9,509	12,096	18,778	36,558	44,166	68,727	68,960	69,072	69,606
Total Debt	1,371	1,286	2,008	1,720	3,173	2,673	2,673	10,596	10,601	9,426	8,433
Total Long-Term Debt	1,371	1,286	2,008	695	3,173	2,673	2,673	10,592	9,419	8,427	8,433
Net Debt	-810	-1,960	-767	-3,478	-2,471	-7,237	-13,202	-4,725	-6,579	-9,616	-10,451
Capital Expenditures (CapEx)	67	577	464	534	595	643	710	717	798	736	658
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1,871	-2,611	-3,508	-3,979	-4,914	-6,829	-7,805	-9,471	-10,822	-10,752	-12,285
Debt-free Net Working Capital (DFNWC)	-876	114	-1,299	542	-572	1,118	4,161	1,066	1,686	3,442	1,747
Net Working Capital (NWC)	-876	114	-1,299	-483	-572	1,118	4,161	1,062	504	2,443	1,747
Net Nonoperating Expense (NNE)	161	-37	70	29	-506	-73	-3,349	-927	117	51	-194
Net Nonoperating Obligations (NNO)	-810	-1,960	-767	-3,478	-2,471	-7,237	-13,202	-4,725	-6,579	-9,616	-10,451
Total Depreciation and Amortization (D&A)	746	872	1,133	1,376	1,719	3,011	3,904	4,646	5,454	5,884	5,572
Debt-free, Cash-free Net Working Capital to Revenue	-34.82%	-39.16%	-41.57%	-37.75%	-37.00%	-39.94%	-36.73%	-35.75%	-34.52%	-30.85%	-32.42%
Debt-free Net Working Capital to Revenue	-16.29%	1.71%	-15.39%	5.14%	-4.31%	6.54%	19.58%	4.02%	5.38%	9.87%	4.61%
Net Working Capital to Revenue	-16.29%	1.71%	-15.39%	-4.58%	-4.31%	6.54%	19.58%	4.01%	1.61%	7.01%	4.61%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.42)	($0.07)	$0.26	$0.18	$1.48	$0.15	$0.00	$1.51	$0.21	$4.25	$6.44
Adjusted Weighted Average Basic Shares Outstanding	624.15M	661.65M	687.80M	714.92M	751M	829M	0.00	955M	992M	974M	962M
Adjusted Diluted Earnings per Share	($0.42)	($0.07)	$0.26	$0.17	$1.43	$0.15	$0.00	$1.48	$0.21	$4.20	$6.36
Adjusted Weighted Average Diluted Shares Outstanding	624.15M	661.65M	700.22M	734.60M	775M	850M	0.00	974M	997M	984M	974M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.15	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	650.60M	670.90M	707.50M	731.50M	771M	895M	0.00	990M	1B	970M	961M
Normalized Net Operating Profit after Tax (NOPAT)	-102	55	153	389	375	208	319	517	1,301	5,012	6,387
Normalized NOPAT Margin	-1.90%	0.82%	1.81%	3.69%	2.82%	1.22%	1.50%	1.95%	4.15%	14.38%	16.85%
Pre Tax Income Margin	-3.97%	0.96%	2.12%	3.98%	7.40%	4.13%	12.05%	5.78%	2.11%	14.20%	19.63%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-2.05	1.68	2.36	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	-1.39	-1.17	4.42	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-2.96	-6.28	-2.85	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-2.31	-9.12	-0.79	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	24.80%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1,923.08%	184.24%	151.14%

This table displays calculated financial ratios and metrics derived from Salesforce's official financial filings.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	7/31/2022	10/31/2022	1/31/2023	4/30/2023	7/31/2023	10/31/2023	1/31/2024	4/30/2024	7/31/2024	10/31/2024	1/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	21.77%	14.19%	14.44%	11.28%	11.44%	11.27%	10.77%	10.74%	8.39%	8.30%	7.60%
EBITDA Growth	7.24%	46.10%	72.54%	73.34%	98.97%	59.86%	71.79%	47.24%	14.55%	13.74%	5.30%
EBIT Growth	-54.67%	806.25%	250.22%	1,397.22%	1,018.38%	244.91%	384.15%	291.86%	23.21%	25.91%	12.62%
NOPAT Growth	-66.28%	241.92%	-760.54%	1,696.41%	1,628.65%	507.53%	234.48%	457.97%	10.66%	34.00%	9.67%
Net Income Growth	-87.29%	-55.13%	-250.00%	610.71%	1,763.24%	482.86%	1,575.51%	670.35%	12.79%	24.75%	18.12%
EPS Growth	-87.50%	-55.32%	-100.00%	566.67%	1,728.57%	495.24%	1,570.00%	680.00%	14.84%	26.40%	19.05%
Operating Cash Flow Growth	-13.47%	-22.52%	40.67%	22.17%	141.92%	389.46%	22.06%	39.10%	10.40%	29.44%	16.66%
Free Cash Flow Firm Growth	107.13%	106.27%	102.24%	111.64%	71.74%	111.51%	461.27%	16.03%	11.59%	-2.69%	-72.55%
Invested Capital Growth	-3.08%	-2.47%	-3.04%	-5.15%	-3.29%	-3.84%	-3.38%	-4.01%	-3.81%	-2.99%	1.38%
Revenue Q/Q Growth	4.17%	1.52%	6.98%	-1.63%	4.32%	1.36%	6.50%	-1.66%	2.10%	1.28%	5.81%
EBITDA Q/Q Growth	14.79%	25.16%	0.33%	20.25%	31.77%	0.55%	7.82%	3.07%	2.51%	-0.15%	-0.18%
EBIT Q/Q Growth	477.78%	232.35%	-23.23%	34.58%	225.70%	2.50%	7.76%	8.93%	2.40%	4.75%	-3.62%
NOPAT Q/Q Growth	417.92%	180.48%	-621.31%	123.72%	398.38%	-1.43%	15.40%	-1.58%	-1.16%	19.36%	-5.55%
Net Income Q/Q Growth	142.86%	208.82%	-146.67%	303.06%	536.68%	-3.39%	18.14%	6.02%	-6.78%	6.86%	11.85%
EPS Q/Q Growth	133.33%	200.00%	-147.62%	300.00%	540.00%	-2.34%	17.60%	6.12%	-5.77%	7.48%	10.76%
Operating Cash Flow Q/Q Growth	-90.91%	-6.29%	790.73%	61.08%	-82.01%	89.60%	122.13%	83.57%	-85.72%	122.31%	100.20%
Free Cash Flow Firm Q/Q Growth	106.97%	-10.50%	-63.36%	409.26%	2.84%	10.23%	-2.78%	5.27%	-1.08%	-3.88%	-72.58%
Invested Capital Q/Q Growth	1.97%	1.67%	-2.13%	-6.52%	3.98%	1.09%	-1.67%	-7.13%	4.19%	1.95%	2.77%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	72.45%	73.36%	74.95%	74.23%	75.44%	75.29%	76.87%	76.33%	76.85%	77.71%	77.81%
EBITDA Margin	18.80%	23.17%	21.73%	26.57%	33.56%	33.29%	33.70%	35.32%	35.46%	34.96%	32.98%
Operating Margin	2.50%	5.87%	4.26%	5.00%	17.16%	17.21%	17.47%	18.71%	19.12%	20.04%	18.21%
EBIT Margin	1.76%	5.77%	4.14%	5.66%	17.68%	17.88%	18.09%	20.04%	20.10%	20.79%	18.93%
Profit (Net Income) Margin	0.88%	2.68%	-1.17%	2.41%	14.73%	14.04%	15.57%	16.79%	15.32%	16.17%	17.09%
Tax Burden Percent	37.57%	44.21%	-296.97%	61.04%	84.92%	82.31%	87.90%	82.11%	77.79%	87.46%	85.92%
Interest Burden Percent	133.09%	105.09%	9.51%	69.81%	98.09%	95.38%	97.92%	102.02%	98.03%	88.95%	105.07%
Effective Tax Rate	62.43%	55.79%	396.97%	38.96%	15.08%	17.69%	12.10%	17.89%	22.21%	12.54%	14.08%
Return on Invested Capital (ROIC)	0.52%	1.47%	-7.54%	1.97%	9.41%	9.27%	10.51%	11.58%	10.99%	13.01%	11.77%
ROIC Less NNEP Spread (ROIC-NNEP)	0.61%	1.32%	-24.56%	2.60%	9.24%	9.44%	10.26%	10.41%	10.49%	14.58%	10.33%
Return on Net Nonoperating Assets (RNNOA)	-0.05%	-0.11%	2.38%	-0.38%	-1.24%	-1.10%	-1.41%	-1.98%	-1.54%	-2.05%	-1.72%
Return on Equity (ROE)	0.47%	1.36%	-5.15%	1.60%	8.18%	8.17%	9.10%	9.60%	9.45%	10.96%	10.05%
Cash Return on Invested Capital (CROIC)	3.43%	3.10%	3.71%	6.36%	6.93%	9.52%	11.66%	15.30%	14.93%	14.73%	10.54%
Operating Return on Assets (OROA)	0.57%	1.95%	1.34%	1.95%	6.27%	6.64%	6.35%	7.55%	7.94%	8.48%	7.08%
Return on Assets (ROA)	0.28%	0.91%	-0.38%	0.83%	5.22%	5.21%	5.46%	6.32%	6.05%	6.59%	6.39%
Return on Common Equity (ROCE)	0.47%	1.36%	-5.15%	1.60%	8.18%	8.17%	9.10%	9.60%	9.45%	10.96%	10.05%
Return on Equity Simple (ROE_SIMPLE)	0.89%	0.47%	0.00%	0.66%	2.72%	4.46%	0.00%	9.17%	9.77%	10.14%	0.00%
Net Operating Profit after Tax (NOPAT)	73	203	-1,060	251	1,253	1,236	1,426	1,403	1,387	1,656	1,564
NOPAT Margin	0.94%	2.60%	-12.65%	3.05%	14.57%	14.17%	15.35%	15.36%	14.87%	17.53%	15.65%
Net Nonoperating Expense Percent (NNEP)	-0.09%	0.14%	17.02%	-0.62%	0.17%	-0.17%	0.25%	1.17%	0.49%	-1.57%	1.44%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-1.54%	-	-	-	2.06%	-	-	-	2.25%
Cost of Revenue to Revenue	27.55%	26.64%	25.05%	25.77%	24.56%	24.71%	23.13%	23.67%	23.15%	22.29%	22.19%
SG&A Expenses to Revenue	8.38%	8.47%	6.99%	7.74%	7.35%	7.25%	6.81%	7.08%	7.62%	7.53%	7.68%
R&D to Revenue	17.22%	16.33%	13.45%	14.64%	14.18%	13.81%	13.73%	14.98%	14.47%	14.36%	14.21%
Operating Expenses to Revenue	69.95%	67.49%	70.69%	69.24%	58.28%	58.07%	59.41%	57.62%	57.73%	57.67%	59.60%
Earnings before Interest and Taxes (EBIT)	136	452	347	467	1,521	1,559	1,680	1,830	1,874	1,963	1,892
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,451	1,816	1,822	2,191	2,887	2,903	3,130	3,226	3,307	3,302	3,296
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.04	2.73	2.86	3.45	3.76	3.35	4.54	4.36	4.35	4.76	5.35
Price to Tangible Book Value (P/TBV)	52.80	50.70	62.65	90.28	65.55	52.03	47.07	44.34	58.63	52.43	59.87
Price to Revenue (P/Rev)	6.23	5.35	5.33	6.15	6.61	5.73	7.76	7.29	6.88	7.49	8.63
Price to Earnings (P/E)	340.63	583.19	803.06	521.91	138.49	75.06	65.42	47.62	44.53	46.93	52.77
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.15%	0.31%	0.41%	0.47%
Earnings Yield	0.29%	0.17%	0.12%	0.19%	0.72%	1.33%	1.53%	2.10%	2.25%	2.13%	1.90%
Enterprise Value to Invested Capital (EV/IC)	3.35	2.94	3.10	3.90	4.19	3.68	5.22	5.32	4.99	5.46	6.24
Enterprise Value to Revenue (EV/Rev)	5.95	5.14	5.12	5.87	6.37	5.52	7.49	6.92	6.62	7.24	8.35
Enterprise Value to EBITDA (EV/EBITDA)	34.81	27.87	25.26	25.93	24.18	19.11	23.49	20.36	19.22	20.78	24.11
Enterprise Value to EBIT (EV/EBIT)	0.00	485.00	178.49	134.66	75.63	48.11	49.93	37.52	34.79	36.67	41.88
Enterprise Value to NOPAT (EV/NOPAT)	1,102.68	484.52	494.32	355.56	114.86	64.40	62.33	46.51	44.32	45.96	52.73
Enterprise Value to Operating Cash Flow (EV/OCF)	27.29	24.69	22.56	23.82	25.09	19.48	25.50	20.62	20.01	21.51	24.18
Enterprise Value to Free Cash Flow (EV/FCFF)	96.35	93.65	82.26	59.73	59.46	37.92	43.96	34.08	32.78	36.48	59.61
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.18	0.18	0.18	0.17	0.16	0.16	0.16	0.16	0.15	0.14	0.14
Long-Term Debt to Equity	0.16	0.16	0.16	0.16	0.15	0.15	0.14	0.14	0.15	0.14	0.14
Financial Leverage	-0.09	-0.08	-0.10	-0.14	-0.13	-0.12	-0.14	-0.19	-0.15	-0.14	-0.17
Leverage Ratio	1.58	1.54	1.67	1.60	1.58	1.56	1.68	1.62	1.60	1.56	1.68
Compound Leverage Factor	2.10	1.62	0.16	1.12	1.55	1.49	1.65	1.65	1.56	1.39	1.76
Debt to Total Capital	14.99%	15.15%	15.37%	14.33%	13.96%	13.96%	13.65%	13.64%	12.76%	12.59%	12.12%
Short-Term Debt to Total Capital	1.67%	1.69%	1.71%	0.27%	1.48%	1.48%	1.45%	1.45%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	13.32%	13.46%	13.66%	14.06%	12.48%	12.48%	12.20%	12.20%	12.76%	12.59%	12.12%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	85.01%	84.85%	84.63%	85.67%	86.04%	86.04%	86.35%	86.36%	87.24%	87.41%	87.88%
Debt to EBITDA	2.11	1.90	1.67	1.32	1.08	0.96	0.85	0.78	0.67	0.65	0.64
Net Debt to EBITDA	-1.61	-1.15	-1.04	-1.24	-0.89	-0.74	-0.87	-1.09	-0.73	-0.71	-0.80
Long-Term Debt to EBITDA	1.88	1.69	1.48	1.29	0.97	0.86	0.76	0.69	0.67	0.65	0.64
Debt to NOPAT	66.97	32.99	32.66	18.08	5.13	3.24	2.25	1.77	1.55	1.44	1.40
Net Debt to NOPAT	-50.91	-20.05	-20.27	-16.97	-4.22	-2.48	-2.30	-2.49	-1.69	-1.56	-1.74
Long-Term Debt to NOPAT	59.49	29.31	29.02	17.74	4.59	2.90	2.01	1.59	1.55	1.44	1.40
Altman Z-Score	3.66	3.47	2.92	3.77	4.37	4.14	4.64	4.93	5.04	5.82	5.37
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.06	1.05	1.02	1.02	1.02	1.04	1.09	1.11	1.04	1.11	1.06
Quick Ratio	0.91	0.89	0.90	0.86	0.86	0.86	0.96	0.95	0.86	0.90	0.93
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,726	1,544	566	2,881	2,963	3,267	3,176	3,343	3,307	3,179	872
Operating Cash Flow to CapEx	164.53%	158.08%	1,278.90%	1,848.15%	448.89%	922.89%	2,314.97%	3,832.52%	651.09%	972.06%	2,577.92%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.32	0.34	0.32	0.35	0.35	0.37	0.35	0.38	0.40	0.41	0.37
Accounts Receivable Turnover	6.65	7.31	3.06	7.50	6.52	7.44	3.14	8.03	6.76	7.76	3.24
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	9.64	9.64	9.62	9.81	9.12	9.28	9.43	9.93	9.78	10.30	10.94
Accounts Payable Turnover	1.65	1.74	1.37	1.63	1.60	1.60	1.33	1.52	1.68	1.61	1.35
Days Sales Outstanding (DSO)	54.89	49.97	119.30	48.67	55.98	49.05	116.07	45.47	54.01	47.07	112.50
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	220.91	209.89	266.61	223.50	227.53	227.63	274.66	239.41	217.52	226.45	269.62
Cash Conversion Cycle (CCC)	-166.02	-159.93	-147.32	-174.83	-171.54	-178.58	-158.59	-193.94	-163.52	-179.39	-157.13
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	52,040	52,909	51,780	48,404	50,330	50,878	50,030	46,464	48,410	49,355	50,722
Invested Capital Turnover	0.55	0.57	0.60	0.65	0.65	0.65	0.68	0.75	0.74	0.74	0.75
Increase / (Decrease) in Invested Capital	-1,653	-1,341	-1,626	-2,630	-1,710	-2,031	-1,750	-1,940	-1,920	-1,523	692
Enterprise Value (EV)	174,519	155,684	160,458	188,795	210,782	187,332	260,968	247,247	241,554	269,380	316,556
Market Capitalization	182,577	162,126	167,037	197,803	218,534	194,544	270,584	260,466	250,777	278,550	327,007
Book Value per Share	$60.40	$59.35	$58.36	$57.41	$59.63	$59.70	$61.62	$61.53	$59.48	$61.22	$63.92
Tangible Book Value per Share	$3.48	$3.20	$2.67	$2.19	$3.42	$3.84	$5.94	$6.06	$4.41	$5.56	$5.71
Total Capital	70,697	69,951	68,960	67,014	67,505	67,515	69,072	69,112	66,063	66,957	69,606
Total Debt	10,599	10,600	10,601	9,602	9,423	9,425	9,426	9,429	8,430	8,432	8,433
Total Long-Term Debt	9,416	9,418	9,419	9,421	8,424	8,426	8,427	8,429	8,430	8,432	8,433
Net Debt	-8,058	-6,442	-6,579	-9,008	-7,752	-7,212	-9,616	-13,219	-9,223	-9,170	-10,451
Capital Expenditures (CapEx)	203	198	218	243	180	166	147	163	137	204	154
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-11,184	-9,754	-10,822	-13,441	-11,065	-10,056	-10,752	-14,215	-11,775	-10,707	-12,285
Debt-free Net Working Capital (DFNWC)	2,349	2,164	1,686	536	1,332	1,807	3,442	3,455	861	2,050	1,747
Net Working Capital (NWC)	1,166	982	504	355	333	808	2,443	2,455	861	2,050	1,747
Net Nonoperating Expense (NNE)	4.51	-6.63	-962	52	-14	12	-20	-130	-42	129	-144
Net Nonoperating Obligations (NNO)	-8,058	-6,442	-6,579	-9,008	-7,752	-7,212	-9,616	-13,219	-9,223	-9,170	-10,451
Total Depreciation and Amortization (D&A)	1,315	1,364	1,475	1,724	1,366	1,344	1,450	1,396	1,433	1,339	1,404
Debt-free, Cash-free Net Working Capital to Revenue	-38.14%	-32.20%	-34.52%	-41.76%	-33.46%	-29.62%	-30.85%	-39.77%	-32.29%	-28.79%	-32.42%
Debt-free Net Working Capital to Revenue	8.01%	7.14%	5.38%	1.67%	4.03%	5.32%	9.87%	9.67%	2.36%	5.51%	4.61%
Net Working Capital to Revenue	3.98%	3.24%	1.61%	1.10%	1.01%	2.38%	7.01%	6.87%	2.36%	5.51%	4.61%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.07	$0.21	($0.10)	$0.20	$1.30	$1.26	$1.49	$1.58	$1.48	$1.60	$1.78
Adjusted Weighted Average Basic Shares Outstanding	997M	997M	992M	980M	975M	972M	974M	970M	964M	956M	962M
Adjusted Diluted Earnings per Share	$0.07	$0.21	($0.10)	$0.20	$1.28	$1.25	$1.47	$1.56	$1.47	$1.58	$1.75
Adjusted Weighted Average Diluted Shares Outstanding	1.00B	1B	997M	988M	986M	981M	984M	985M	973M	965M	974M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	1B	1B	1B	974M	973M	968M	970M	969M	956M	957M	961M
Normalized Net Operating Profit after Tax (NOPAT)	135	322	830	686	1,295	1,281	1,578	1,410	1,464	1,705	1,820
Normalized NOPAT Margin	1.75%	4.11%	9.89%	8.31%	15.05%	14.69%	16.99%	15.44%	15.70%	18.05%	18.21%
Pre Tax Income Margin	2.34%	6.06%	0.39%	3.95%	17.34%	17.05%	17.71%	20.44%	19.70%	18.49%	19.89%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	24.80%
Augmented Payout Ratio	0.00%	603.24%	1,923.08%	1,597.36%	507.16%	318.33%	184.24%	140.75%	179.07%	159.14%	151.14%

Frequently Asked Questions About Salesforce's Financials

When does Salesforce's fiscal year end?

According to the most recent income statement we have on file, Salesforce's financial year ends in January. Their financial year 2025 ended on January 31, 2025.

How has Salesforce's net income changed over the last 10 years?

Salesforce's net income appears to be on an upward trend, with a most recent value of $6.20 billion in 2025, falling from -$262.69 million in 2015. The previous period was $4.14 billion in 2024. See Salesforce's forecast for analyst expectations on what’s next for the company.

What is Salesforce's operating income?

Salesforce's total operating income in 2025 was $7.21 billion, based on the following breakdown:

Total Gross Profit: $29.25 billion
Total Operating Expenses: $22.05 billion

How has Salesforce revenue changed over the last 10 years?

Over the last 10 years, Salesforce's total revenue changed from $5.37 billion in 2015 to $37.90 billion in 2025, a change of 605.2%.

How much debt does Salesforce have?

Salesforce's total liabilities were at $41.76 billion at the end of 2025, a 3.9% increase from 2024, and a 524.1% increase since 2015.

How much cash does Salesforce have?

In the past 10 years, Salesforce's cash and equivalents has ranged from $908.12 million in 2015 to $8.85 billion in 2025, and is currently $8.85 billion as of their latest financial filing in 2025.

How has Salesforce's book value per share changed over the last 10 years?

Over the last 10 years, Salesforce's book value per share changed from 6.30 in 2015 to 63.92 in 2025, a change of 914.7%.

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This page (NYSE:CRM) was last updated on 5/6/2025 by MarketBeat.com Staff

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