At a glance
Salesforce.com Inc is worth $186.15B, about 29 times its fiscal 2026 earnings. Revenue grew 9.6% to $41.52B in fiscal 2026, with 18.0% kept as profit; over 5 years it has grown 14.3% a year. It pays a 0.77% dividend yield, and returned $35.17B to shareholders in dividends and buybacks over FY2022–FY2026. The stock returned −12.4% over the past year with dividends reinvested and −5.3% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 35.7% in the 2020 crash (S&P 500: 33.7%) and 44.3% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 4 months and 14 months after the lows.
The business in plain English
Salesforce sells customer relationship management (CRM) software. These are online tools that help businesses find customers, close sales, handle support requests and run marketing campaigns. It serves organizations of all sizes around the world. Most revenue comes from subscriptions, which means customers pay on an ongoing basis to use the software over the internet. Salesforce sells directly and through partners, and outside developers build apps that run on its platform.
In the fiscal year ended January 31, 2026, revenue was $41.5 billion. The largest product lines were Agentforce Service, its customer service software (23.6% of revenue); Agentforce Sales (21.7%); and the Agentforce 360 Platform, Slack and Other (21.4%). That last group covers tools for building custom apps, plus the Slack workplace messaging service. Integration and analytics software made up 15%, marketing and commerce software 13.1%, and professional services and other 5.1%.
By region, the Americas supplied 65.5% of revenue, Europe 24.1% and Asia Pacific 10.4%. Under the Agentforce name, Salesforce builds AI agents into all its products. These are software tools that can do tasks on their own, such as answering routine customer questions. Salesforce also added to its data tools by acquiring Informatica, a data management company. That deal closed in the fourth quarter of fiscal 2026.
Price history
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CRM -12.4% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By product or service
| Agentforce Service | $9.82B | 23.6% |
| Agentforce Sales | $9.03B | 21.7% |
| Agentforce 360 Platform, Slack and Other | $8.88B | 21.4% |
| Agentforce Integration and Agentforce Analytics | $6.23B | 15% |
| Agentforce Marketing and Agentforce Commerce | $5.43B | 13.1% |
| Professional services and other | $2.14B | 5.1% |
By geography
| Americas | $27.19B | 65.5% |
| Europe | $10.02B | 24.1% |
| Asia Pacific | $4.32B | 10.4% |
Latest results
- In Q2 FY2027 (ended Jul 31, 2026), revenue was $11.35B, up 10.8% from a year earlier, and net income was $3.53B (+86.9%).
- For fiscal 2026, revenue was $41.52B (+9.6% year over year; +14.3% a year from FY2021 to FY2026) with a 18% net margin.
Financial health check
| Revenue growth a year (FY2021–FY2026) | +14.3% good |
|---|---|
| Operating margin | 20.1% good |
| Free cash flow margin | 34.7% good |
| Return on equity (FY2026) | 12.6% watch |
| Return on assets (FY2026) | 6.6% watch |
| Net cash (cash minus debt) | $-27.89B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $21.25B | $4.07B | $4.09B |
| FY2022 | $26.49B | $1.44B | $5.28B |
| FY2023 | $31.35B | $208.0M | $6.31B |
| FY2024 | $34.86B | $4.14B | $9.50B |
| FY2025 | $37.90B | $6.20B | $12.43B |
| FY2026 | $41.52B | $7.46B | $14.40B |
Valuation snapshot
| Market value | $186.15B |
|---|---|
| P/E ratio | 29 |
| Dividend yield | 0.77% |
Rank among 1514 US companies
Market value at each year end
Salesforce.com’s market value went from $47.70B at the end of 2016 to $186.15B on Nov 2, 2026, about 3.9 times as much; since the end of 2025 it is down 25%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $186.15B | -25.0% |
| 2025 | $248.22B | -22.4% |
| 2024 | $319.95B | +25.6% |
| 2023 | $254.72B | +92.1% |
| 2022 | $132.59B | -47.0% |
| 2021 | $250.32B | +22.9% |
| 2020 | $203.61B | +41.1% |
| 2019 | $144.26B | +37.7% |
| 2018 | $104.78B | +41.9% |
| 2017 | $73.84B | +54.8% |
| 2016 | $47.70B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| CRM price data to Nov 2, 2026 | -14.0% | -12.4% | +3.5% | -5.3% | +11.9% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -14.0% |
| 2025 | -20.2% |
| 2024 | +27.8% |
| 2023 | +98.5% |
| 2022 | -47.8% |
| 2021 | +14.2% |
| 2020 | +36.8% |
| 2019 | +18.7% |
| 2018 | +34.0% |
| 2017 | +49.3% |
| 2016 | -12.7% |
| 2015 | +32.2% |
| 2014 | +7.5% |
| 2013 | +31.3% |
| 2012 | +65.7% |
| 2011 | -23.1% |
| 2010 | +78.9% |
| 2009 | +130.5% |
| 2008 | -48.9% |
| 2007 | +72.0% |
| 2006 | +13.7% |
| 2005 | +89.2% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 45.2% over that stretch · deepest drop along the way 70.5%, back to its old high 13.3 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 27.1% over that stretch · deepest drop along the way 35.7%, back to its old high 3.7 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 44.3% over that stretch · deepest drop along the way 44.3%, back to its old high 13.6 months after the low |
Insider activity
Form 4 filings from 2025-10-27 to 2026-10-27 (25 read): 1 open-market purchases ($999K) and 2 sales ($1.2M).
| Date | Insider | Type | Value |
|---|---|---|---|
| Sep 18, 2026 | David Blair Kirk Director | buy | $999K |
| Sep 4, 2026 | Craig Conway Director | sell | $803K |
| Sep 4, 2026 | Craig Conway Director | sell | $369K |
Who owns it
Large shareholders (13G filings)
| Vanguard Capital Management | 7.42% | Mar 31, 2026 |
ETFs with the most weight in CRM
| IGV iShares Expanded Tech-Software Sector ETF | 8.41% |
| FDN First Trust Dow Jones Internet Index Fund | 5.99% |
| FDND FT Vest Dow Jones Internet & Target Income ETF | 5.88% |
| WUGI AXS Esoterica NextG Economy ETF | 5.76% |
| AOTG AOT Growth and Innovation ETF | 5.01% |
| BUL Pacer US Cash Cows Growth ETF | 4.97% |
| FMCX FM Focus Equity ETF | 4.66% |
| FDG American Century Focused Dynamic Growth ETF | 4.6% |
What could go wrong
- The AI agent push may not pay off. Salesforce has built its Agentforce AI agents into every product. If these tools fall behind rivals, make errors or face new AI rules, growth could slow and its reputation could suffer.
- Big acquisitions such as Informatica may disappoint. Salesforce closed its Informatica purchase in the fourth quarter of fiscal 2026. Acquisitions can be hard to integrate, disrupt the business, dilute existing shareholders and fall short of expected financial benefits.
- Data breaches or outages could drive customers away. Salesforce stores large amounts of customer data. A breach, defect or outage at Salesforce, or at the outside data centers and cloud providers it uses, could hurt demand and bring costly legal claims.
- Intense competition and pricing pressure. Salesforce describes its markets as intensely competitive. Selling to large enterprises also brings long, costly sales cycles and pricing pressure, which could slow growth and hurt profit margins.
- Slower renewals would show up with a lag. Salesforce depends on customers renewing and upgrading subscriptions. Subscription revenue is recorded over each contract's term, so a slowdown in new business or renewals may show up in results only gradually, then linger.
- Debt well above cash on hand. As of July 31, 2026, Salesforce had about $39.3 billion of debt against $11.4 billion in cash and investments. Interest and repayment obligations could limit its flexibility in a downturn.
Recent events
- Investor presentation or announcement
- Investor presentation or announcement
- Executive or board change
- Quarterly results released
- Executive or board change
- Executive or board change
- Quarterly results released
- Investor presentation or announcement
- Major agreement signed; New debt or financial obligation
- Executive or board change
For income and retirement investors
Salesforce pays a small dividend. It began paying in fiscal 2025, so its record is short: dividends per share rose from $1.58 that year to $1.66 in fiscal 2026 (ended January 31, 2026). The payout used 21% of earnings and 11% of free cash flow (the cash left after investment spending). The yield was 0.76% as of October 30, 2026, so an income investor would get little cash from the shares. Returns depend mainly on the share price. Buybacks matter more: $32.0 billion from fiscal 2022 to fiscal 2026, against $3.1 billion in dividends. The share count fell 15.9% between August 2021 and August 2026.
Downturns have hit the shares hard. The price fell 70.5% in the 2008 financial crisis and recovered about 13 months after the low. It fell 35.7% in the 2020 COVID crash and recovered within four months of the low. In the 2022 bear market it fell 44.3% and recovered about 14 months after the low. A single stock carries more risk than a diversified fund.
Questions investors ask
How does Salesforce make money?
Salesforce makes money mostly by selling subscriptions to its cloud software. In the fiscal year ended January 31, 2026, it had $41.5 billion of revenue. Customer service software was the largest line at 23.6%. Next came sales software at 21.7% and its app-building platform plus Slack at 21.4%. Integration and analytics, marketing and commerce, and professional services made up the rest. The Americas supplied 65.5% of revenue.
Does Salesforce pay a dividend?
Yes, but the dividend is small and new. Salesforce began paying dividends in fiscal 2025. It paid $1.66 per share in the fiscal year ended January 31, 2026, up from about $1.58 the year before. The yield was 0.76% as of October 30, 2026. Dividends used about 21% of that year's earnings. The company's 10-K says there is no assurance it will keep paying dividends in any particular amount, or at all.
What is Salesforce Agentforce?
Agentforce is Salesforce's system for building and running AI agents. These are software tools that can do tasks on their own, such as answering routine customer questions, routing support cases or summarizing work orders. Agentforce is built into every Salesforce application and draws on company data in Salesforce's Data 360 engine. The main product lines carry its name, such as Agentforce Sales and Agentforce Service. The 10-K warns that AI also brings ethical and regulatory risks that could lead to reputational harm and legal liability.
How has Salesforce stock performed over the long term?
Unevenly. Based on share price alone, Salesforce stock gained about 12% a year over the 10 years to October 30, 2026, or 211% in total. Over the five years to that date it lost about 22% in total. It was down 12.9% for 2026 through October 30. Calendar years have ranged from a 98.5% gain in 2023 to a 47.8% loss in 2022. In the three years to October 30, 2026, the price fell as much as 58.7% from a peak.
What is Salesforce's P/E ratio?
About 29.4 as of October 30, 2026, based on diluted earnings of $7.80 per share for the fiscal year ended January 31, 2026. The price-to-earnings (P/E) ratio compares the share price with a year's profit per share. A higher figure means investors pay more for each dollar of earnings. In that fiscal year, revenue grew 9.6% and net income grew 20.3%. Salesforce's stock market value was about $188.6 billion as of October 30, 2026.