The company provides customer relationship management software delivered as cloud-based, subscription services on a multi-tenant technology architecture. Its offerings span sales, service, marketing, commerce, data management, integration, analytics, and platform tools, including artificial intelligence agent capabilities embedded across these product lines. Customers include businesses of varying sizes across numerous industries worldwide, and the company sells primarily through a direct sales force supplemented by indirect channels including consulting firms and system integrators.
| Income statement · $ millions | 2026 | 2025 | 2024 | |
|---|---|---|---|---|
| Total revenues | 41,525 | 37,895 | 34,857 | 3 |
| · Agentforce Service | 9,818 | 9,054 | 8,245 | |
| · Agentforce Sales | 9,028 | 8,322 | 7,580 | |
| · Agentforce 360 Platform, Slack and Other | 8,882 | 7,247 | 6,611 | |
| · Agentforce Integration and Agentforce Analytics | 6,232 | 5,775 | 5,189 | |
| · Agentforce Marketing and Agentforce Commerce | 5,428 | 5,281 | 4,912 | |
| · Professional services and other | 2,137 | 2,216 | 2,320 | |
| Cost of revenue | 9,270 | 8,643 | 8,541 | |
| Gross profit | 32,255 | 29,252 | 26,316 | |
| Research and development | 5,993 | 5,493 | 4,906 | |
| Selling, general and administrative | 3,000 | 2,836 | 2,534 | |
| Depreciation, depletion and amortization | 1,200 | 1,000 | 1,100 | |
| Total operating expenses | 23,924 | 22,047 | 21,305 | |
| Operating income | 8,331 | 7,205 | 5,011 | 2 |
| Other income (expense), net | 172 | 354 | 216 | |
| Income before income taxes | 9,520 | 7,438 | 4,950 | 1 |
| Income tax provision | 2,063 | 1,241 | 814 | 2 |
| — of which current | 1,104 | 2,454 | 1,556 | 1 |
| Net income attributable to common | 7,457 | 6,197 | 4,136 | 2 |
| Diluted earnings per share | $7.80 | $6.36 | $4.20 | |
| Weighted-average diluted shares | 956 | 974 | 984 | 1 |
| Cash flow · $ millions | 2026 | 2025 | 2024 | |
|---|---|---|---|---|
| Net income incl. noncontrolling interests | 7,457 | 6,197 | 4,136 | 1 |
| Depreciation, depletion and amortization | 1,200 | 1,000 | 1,100 | 1 |
| Share-based compensation | 3,509 | 3,183 | 2,787 | 1 |
| Deferred income taxes | 959 | (1,213) | (742) | |
| Change in receivables | 2,160 | 490 | 659 | |
| Change in payables | 1,014 | 1,089 | (478) | |
| Net cash provided by operating activities | 14,996 | 13,092 | 10,234 | 5 |
| Capital expenditure | 594 | 658 | 736 | 1 |
| Acquisitions, net of cash | 9,268 | 2,734 | 82 | |
| Net cash used in investing activities | (8,590) | (3,163) | (1,327) | |
| Dividends paid | 1,587 | 1,537 | 0 | 1 |
| Repurchases of common stock | 12,596 | 7,829 | 7,620 | 1 |
| Net cash used in financing activities | (8,079) | (9,429) | (7,477) | |
| Cash and equivalents at end of period | 7,327 | 8,848 | 8,472 |
| Balance sheet · $ millions | 2026 | 2025 | |
|---|---|---|---|
| Cash and cash equivalents | 7,327 | 8,848 | |
| Receivables, net | 14,339 | 11,945 | 1 |
| Total current assets | 28,222 | 29,727 | |
| Goodwill | 57,941 | 51,283 | 1 |
| Intangible assets, net | 6,815 | 4,428 | |
| Total assets | 112,305 | 102,928 | 1 |
| Current debt | 4,000 | 0 | |
| Total current liabilities | 37,118 | 27,980 | |
| Long-term debt | 10,439 | 8,433 | |
| Total liabilities | 53,163 | 41,755 | |
| Stockholders' equity | 59,142 | 61,173 | |
| Total equity | 59,142 | 61,173 |
No segment revenue tagged.
| Revenue by product or service · as filed · $ millions | FY2026 | Share |
|---|---|---|
| Agentforce Service | 9,818 | 23.6% |
| Agentforce Sales | 9,028 | 21.7% |
| Agentforce 360 Platform, Slack and Other | 8,882 | 21.4% |
| Agentforce Integration and Agentforce Analytics | 6,232 | 15.0% |
| Agentforce Marketing and Agentforce Commerce | 5,428 | 13.1% |
| Professional services and other | 2,137 | 5.1% |
| Total revenues, as filed | 41,525 | 100.0% |
Product lines sum to the filed total.
| Revenue by geography · as filed · $ millions | FY2026 | Share |
|---|---|---|
| Americas | 27,193 | 65.5% |
| Europe | 10,017 | 24.1% |
| Asia Pacific | 4,315 | 10.4% |
| Total revenues, as filed | 41,525 | 100.0% |
Geographic lines sum to the filed total.
Lines render when they sum to the filed total within 0.5 percent. A reconciling line the company filed closes the gap at any size, and the table is split: every line shown is filed, nothing is implied. A computed line, the filed total less the lines shown, closes up to 5 percent of the total; beyond that the table is partial and says so. Members that add to more than the filed total are a conflict and are not shown. The tolerance is 0.5 percent of the filed total or 2 million dollars, whichever is larger; for a filed total under 400 million dollars the floor is the binding one and the table says within tolerance. Every figure is as filed, in millions of dollars; shares are arithmetic on filed lines.
| Largest FY/FY moves · $ millions, ranked by |Δ| | FY2026 | FY2025 | Δ $ | Δ % | Reading |
|---|---|---|---|---|---|
| Total liabilities · BS | 53,163 | 41,755 | +11,408 | +27.3% | — |
| Total assets · BS | 112,305 | 102,928 | +9,377 | +9.1% | — |
| Total current liabilities · BS | 37,118 | 27,980 | +9,138 | +32.7% | — |
| Goodwill · BS | 57,941 | 51,283 | +6,658 | +13.0% | — |
| Acquisitions, net of cash · CF | 9,268 | 2,734 | +6,534 | +239.0% | ◐ outsized |
| Net cash used in investing activities · CF | (8,590) | (3,163) | −5,427 | -171.6% | ◐ outsized |
| Repurchases of common stock · CF | 12,596 | 7,829 | +4,767 | +60.9% | ◐ outsized |
| Total revenues · IS | 41,525 | 37,895 | +3,630 | +9.6% | — |
| Gross profit · IS | 32,255 | 29,252 | +3,003 | +10.3% | — |
| Receivables, net · BS | 14,339 | 11,945 | +2,394 | +20.0% | — |
| Intangible assets, net · BS | 6,815 | 4,428 | +2,387 | +53.9% | ◐ outsized |
| Deferred income taxes · CF | 959 | (1,213) | +2,172 | +179.1% | ◐ outsized |
| Income before income taxes · IS | 9,520 | 7,438 | +2,082 | +28.0% | — |
| Stockholders' equity · BS | 59,142 | 61,173 | −2,031 | -3.3% | — |
| Business quality — Buffett/Munger screen · deterministic · not part of the filing score | Value | Reading |
|---|---|---|
| Return on equity net income ÷ average of start- and end-of-year equity | 12.4% sector median 17.4% | adequate |
| Share count, year-end (year-end shares − prior year-end) ÷ prior year-end | -3.4% sector median -0.7% | shrinking |
| Debt to equity (current debt + long-term debt) ÷ year-end equity | 0.24 sector median 0.41 | low |
| FCF consistency, 5yr operating cash flow − capital expenditure, per year | positive 5 of 5 | consistent |
| Margin stability pre-tax income ÷ revenue, swing across up to five years | pre-tax margin 22.9% sector median 19.9% | volatile |
| Quarterly · as filed in 10-Q/10-K · $ millions | APR 25 | JUL 25 | OCT 25 | APR 26 | JUL 26 |
|---|---|---|---|---|---|
| Total revenues | 9,829 | 10,236 | 10,259 | 11,133 | 11,345 |
| Cost of revenue | 2,265 | 2,242 | 2,255 | 2,570 | 2,649 |
| Gross profit | 7,564 | 7,994 | 8,004 | 8,563 | 8,696 |
| Research and development | 1,460 | 1,481 | 1,433 | 1,627 | 1,687 |
| Selling, general and administrative | 697 | 734 | 667 | 740 | 725 |
| Depreciation, depletion and amortization | 843 | 817 | 851 | 985 | 966 |
| Total operating expenses | 5,622 | 5,662 | 5,816 | 6,216 | 6,365 |
| Operating income | 1,942 | 2,332 | 2,188 | 2,347 | 2,331 |
| Interest expense | 68 | 67 | — | 317 | 473 |
| Other income (expense), net | 163 | 135 | 61 | 133 | 81 |
| Income before income taxes | 1,974 | 2,406 | 2,512 | 2,721 | 4,552 |
| Income tax provision | 433 | 519 | 426 | 614 | 1,026 |
| Net income attributable to common | 1,541 | 1,887 | 2,086 | 2,107 | 3,526 |
| Diluted earnings per share | $1.59 | $1.96 | $2.19 | $2.42 | $4.29 |
| Weighted-average diluted shares | 970 | 962 | 952 | 871 | 821 |
| Net cash provided by operating activities | 6,476 | 740 | 2,316 | 6,701 | 1,269 |
| Largest QoQ moves · latest vs prior filed quarter | Prior | Latest | Δ $ | Δ % |
|---|---|---|---|---|
| Net cash provided by operating activities | 6,701 | 1,269 | −5,432 | -81.1% |
| Income before income taxes | 2,721 | 4,552 | +1,831 | +67.3% |
| Net income attributable to common | 2,107 | 3,526 | +1,419 | +67.3% |
| Income tax provision | 614 | 1,026 | +412 | +67.1% |
| Total revenues | 11,133 | 11,345 | +212 | +1.9% |
| Interest expense | 317 | 473 | +156 | +49.2% |
| Total operating expenses | 6,216 | 6,365 | +149 | +2.4% |
| Gross profit | 8,563 | 8,696 | +133 | +1.6% |
| Ownership — insiders & floatForm 4 + 10-K cover · open-market trades only | Value | Reading |
|---|---|---|
| Public float | $191,800M | 10-K cover · as of 2025-07-31 |
| Insider Form 4s, 90d | 22 filings · 1 buys / 2 sells | net selling · −$173,295 |
| · Kirk David Blair | BUY $999,451 | Form 4 filed 2026-09-21 · open market |
| · Conway Craig | SELL $803,363 | Form 4 filed 2026-09-04 · open market |
| · Conway Craig | SELL $369,383 | Form 4 filed 2026-09-04 · open market |
| Insider ownership % | — | needs the proxy statement — not read yet, never estimated |
| Institutional % | — | needs 13F aggregation — not read yet, never estimated |
| · 10b5-1 adopted | Parker Harris, Co-Founder & Chief Technology Officer, Slack | December 18, 2025 · 154,725 shares · 10-K insider trading arrangements |
| · 10b5-1 adopted | Srinivas Tallapragada, President and Chief Engineering and Customer Success Officer | January 12, 2026 · 22,904 shares · 10-K insider trading arrangements |
Not investment advice. DHI Signal publishes impersonal, rules-based research; no recommendation to buy or sell any security is made or implied. Every statement figure is transcribed from Salesforce's Form 10-K for FY2026 (accession 0001108524-26-000060), pulled from EDGAR XBRL. Derived measures are computed only from lines shown on this page and the arithmetic is displayed so it can be checked. CRM is not in the tracked book. Market posture attaches only when the dashboard feed carries the name; this page computes none of it.