NYSE · CRM

Salesforce, Inc.

Technology · Software - Application

$250.54▼ 2.00% ($5.11)at close

Pre-market$251.27▲ 0.29%5:49 AM ET

52-week

$146.32$269.11

Market cap

What the market price implies · Reverse DCF

To support a price of $250.54, this model requires revenue to grow by 9.71%/yr over the next 10 years, compounded annually.

Historical revenue grew by 11.89%/yr over the past 4 years. The required annual growth rate is 2.18 percentage points lower.

Selected forecast · Base scenario

6.87%/yr · actual 10-year annualized revenue growth

Year 1 growth: 10.77%

Market-implied · Base operating assumptions + edited margins

9.71%/yr · flat 10-year annualized revenue growth

Reverse DCF solves revenue growth itself using Base operating assumptions and your edited margins. Changing forecast growth alone does not change the implied rate. This is a model-implied requirement, not an analyst forecast.

Valuation

Recommended · Revenue & margin DCF

Price used

$250.54

Estimated value / share

$199.10

Base scenario

This estimate is 20.53% below the price used.

USD · TTM ending 2026-07-31

Year 1 growth 10.77% · Ending margin 21.39% · Discount rate 10.17%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future revenue, operating margins, and the investment needed to support them.

Price timestamp: Sep 16, 2026, 8:00 PM UTC
Financial statement period: TTM ending 2026-07-31
Data refreshed: Sep 17, 2026, 9:54 AM UTC · provider

Why this method?

FCFF is positive, but the series is too unstable to anchor a direct cash-flow CAGR and the business still fails the steady-state comparability checks. Use a revenue-and-margin transition model instead of normalizing and compounding current FCFF.

Is FCFF positive and has it been for 3+ consecutive years? 12 consecutive positive FCFF years are available.

Is FCFF stable (not swinging >30% year to year)? The largest recent FCFF swing is 266.7%.

Do you have 5+ years of positive FCFF history? 12 consecutive positive FCFF years are available.

Is the business model structurally similar to what it should be in 10 years? Operating margin moved 19.4 percentage points across the last five years, above the 10.0-point stability threshold, so steady-state FCFF is not a reliable anchor yet.

Price vs Fundamentals

Why The Stock Is Moving

Mixed / unclearLow confidence

1Y Price: 4.69%Revenue (TTM): 11.23%FCF (TTM): 21.26%P/FCF: 5th pct

What changed

The stock rose 4.69% over the last year. Revenue grew 11.23% over the trailing twelve months. Operating margin moved from 20.22% to 21.39%. Free cash flow grew 21.26% over the trailing twelve months.

What the market seems to be pricing

The stock has moved higher against modestly improving underlying metrics. The operating data does not yet tell a clear story — the move may reflect sentiment, sector rotation, or macro factors rather than company-specific earnings power.

What would invalidate this read

Operating margin currently stands at 21.39%. A decisive move in revenue — currently up 11.23% — would be the clearest signal to resolve the ambiguity.

Performance

Return analysis

Company profile

Salesforce, Inc. is a leading provider of customer relationship management (CRM) solutions, dedicated to connecting businesses and their clientele on a global scale.

CEOMarc R. Benioff

SectorTechnology

IndustrySoftware - Application

Employees83,334

IPO dateJun 23, 2004

https://www.salesforce.com

Market multiples

Forward P/E—

EV/EBITDA16.08

Enterprise value$211.52B

Stock splits

Apr 18, 2013↑ Forward

Every 1 shares became 4

+300%

Profitability & growth

Revenue growth10.83%

Gross margin (FY2026)77.68%▲0.5ppvs FY2025

Operating margin (FY2026)21.47%▲2.5ppvs FY2025

ROE19.38%▲7.0ppvs FY2026

Analyst consensus

RatingBuy

Target price$269.64▲7.62%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Dec 2, 2026

Q4 FY26 · EPS est $3.40 · Revenue est $11.46B

View

Dividends

$1.74/shareQuarterlyEx-div Sep 17, 2026 · in 0dSafe

CRM pays a dividend with a 0.69% declared yield, covered 9.1× by free cash flow.

Declared Yield

0.69%

Annual Div / Share

$1.74

CAGR

—

Payout Ratio

15.68%

Safe

Dividend Growth Rate

Dividend Safety

10/10Safe

Dividend History

Annualized dividend cycles per share

YearAnnual DivYoY

2026$1.74+5.3%

2025$1.65—

Income Projection

Invest

USD

Growth rate:

Reinvest dividends

Today

$7/yr

$1/mo

In 5 yrs

$7/yr

$1/mo

In 10 yrs

$7/yr

$1/mo

Today	In 5 yrs	In 10 yrs
$7/yr $1/mo	$7/yr $1/mo	$7/yr $1/mo

Analysis

Dividend Strengths

Well-covered by free cash flow

The dividend is covered 9.1× by free cash flow, indicating the company generates sufficient cash to sustain and potentially grow the payout without straining its finances.

Risks to Watch

No strong risk signal stands out from the latest period pair.

NYSE · CRM

Salesforce, Inc.

Technology · Software - Application

$250.54▼ 2.00% ($5.11)at close

Pre-market$251.27▲ 0.29%5:49 AM ET

52-week

$146.32$269.11

Market cap

What the market price implies · Reverse DCF

To support a price of $250.54, this model requires revenue to grow by 9.71%/yr over the next 10 years, compounded annually.

Historical revenue grew by 11.89%/yr over the past 4 years. The required annual growth rate is 2.18 percentage points lower.

Selected forecast · Base scenario

6.87%/yr · actual 10-year annualized revenue growth

Year 1 growth: 10.77%

Market-implied · Base operating assumptions + edited margins

9.71%/yr · flat 10-year annualized revenue growth

Valuation

Recommended · Revenue & margin DCF

Price used

$250.54

Estimated value / share

$199.10

Base scenario

This estimate is 20.53% below the price used.

USD · TTM ending 2026-07-31

Year 1 growth 10.77% · Ending margin 21.39% · Discount rate 10.17%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future revenue, operating margins, and the investment needed to support them.

Price timestamp: Sep 16, 2026, 8:00 PM UTC
Financial statement period: TTM ending 2026-07-31
Data refreshed: Sep 17, 2026, 9:54 AM UTC · provider

Why this method?

Is FCFF positive and has it been for 3+ consecutive years? 12 consecutive positive FCFF years are available.

Is FCFF stable (not swinging >30% year to year)? The largest recent FCFF swing is 266.7%.

Do you have 5+ years of positive FCFF history? 12 consecutive positive FCFF years are available.

Price vs Fundamentals

Why The Stock Is Moving

Mixed / unclearLow confidence

1Y Price: 4.69%Revenue (TTM): 11.23%FCF (TTM): 21.26%P/FCF: 5th pct

What changed

The stock rose 4.69% over the last year. Revenue grew 11.23% over the trailing twelve months. Operating margin moved from 20.22% to 21.39%. Free cash flow grew 21.26% over the trailing twelve months.

What the market seems to be pricing

What would invalidate this read

Operating margin currently stands at 21.39%. A decisive move in revenue — currently up 11.23% — would be the clearest signal to resolve the ambiguity.

Performance

Return analysis

Company profile

Salesforce, Inc. is a leading provider of customer relationship management (CRM) solutions, dedicated to connecting businesses and their clientele on a global scale.

CEOMarc R. Benioff

SectorTechnology

IndustrySoftware - Application

Employees83,334

IPO dateJun 23, 2004

https://www.salesforce.com

Market multiples

Forward P/E—

EV/EBITDA16.08

Enterprise value$211.52B

Stock splits

Apr 18, 2013↑ Forward

Every 1 shares became 4

+300%

Profitability & growth

Revenue growth10.83%

Gross margin (FY2026)77.68%▲0.5ppvs FY2025

Operating margin (FY2026)21.47%▲2.5ppvs FY2025

ROE19.38%▲7.0ppvs FY2026

Analyst consensus

RatingBuy

Target price$269.64▲7.62%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Dec 2, 2026

Q4 FY26 · EPS est $3.40 · Revenue est $11.46B

View

Dividends

$1.74/shareQuarterlyEx-div Sep 17, 2026 · in 0dSafe

CRM pays a dividend with a 0.69% declared yield, covered 9.1× by free cash flow.

Declared Yield

0.69%

Annual Div / Share

$1.74

CAGR

—

Payout Ratio

15.68%

Safe

Dividend Growth Rate

Dividend Safety

10/10Safe

Dividend History

Annualized dividend cycles per share

YearAnnual DivYoY

2026$1.74+5.3%

2025$1.65—

Income Projection

Invest

USD

Growth rate:

Reinvest dividends

Today

$7/yr

$1/mo

In 5 yrs

$7/yr

$1/mo

In 10 yrs

$7/yr

$1/mo

Today	In 5 yrs	In 10 yrs
$7/yr $1/mo	$7/yr $1/mo	$7/yr $1/mo

Analysis

Dividend Strengths

Well-covered by free cash flow

The dividend is covered 9.1× by free cash flow, indicating the company generates sufficient cash to sustain and potentially grow the payout without straining its finances.

Risks to Watch

No strong risk signal stands out from the latest period pair.