CRM Salesforce Inc.
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Daily prices, adjusted for splits. P/E and P/S value each day on the results published by then; a gap in P/E means the trailing year had no profit.
Software - Application · San Francisco, CA · 83,334 employees · salesforce.com
Salesforce provides cloud-based software platforms that connect businesses with their customers across sales, customer service, marketing, and commerce operations. The company generates revenue by providing enterprise applications, data management tools, team collaboration software, and artificial intelligence agent systems across various industries.
Bull case
The business converts a significant portion of its revenue into free cash flow even after accounting for stock-based compensation, while actively repurchasing its shares. It could also benefit if enterprise artificial intelligence transitions into production, as its software directly occupies the operational layer where automated agents perform work.
- Trades at the 10th percentile of its own valuation history.
- The price assumes about +4% a year cash-flow growth; it delivered +37% a year over three years, including acquisitions.
- Turns 26% of revenue into free cash after stock pay.
- Annual revenue growth rose from +8% to +11%, including acquired businesses.
Bear case
The company faces structural pressure if artificial intelligence tools begin replicating the functions of its software offerings. It would also lose ground if autonomous agents disrupt standard per-seat enterprise software pricing models.
Features
- V-DEEP-VALUE Deep value The price is 58% below its own-history reference value.
- V-ACCELERATING Growth accelerating Annual revenue growth rose from +8% to +11%, including acquired businesses. Shared by most companies we track
- H-CANNIBAL Share cannibal The share count fell 14.7% over the past year.
- F-UPSIDE Analyst upside Analysts' average target is 24% above the price.
- T8 Lazarus Cheap against its own history, and the price trend has turned up.
AI impact
Sells AI to its customers Cuts both ways
The company sells business software for sales and customer service that it is enhancing with automated artificial intelligence agents. Its main advantage is that its platform sits directly in the business workflows where these agents operate, while it faces the risk that newer artificial intelligence tools could bypass traditional workflows and displace its applications.
Where AI helps it
- Its software sits where AI agents would do the work
- Can sell AI to a large base of existing customers (minor)
Where AI could hurt it
- AI tools could do part of what it sells
- Charges per user, and AI could shrink the number of paid users (minor)
In the company's words
Our artificial intelligence (“AI”) powered Agentforce 360 Platform unites our offerings — spanning sales, service, marketing, commerce, collaboration, data management, integration, analytics, IT service, industry verticals and more — on a single, intelligent platform for trusted enterprise…
• AI-native companies and emerging startups that leverage generative AI and large language models as the core foundation of their architecture, offering highly specialized, autonomous, or automated solutions that may bypass traditional business process workflows or displace established user…
Assessed by AI from the company's own annual report filed 2 Mar 2026 and quarterly report filed 27 Aug 2026. A reading of the business, not a forecast or a recommendation.
Valuation position
CRM is at the 10th percentile of its own valuation history. Depending on how far back you look, it ranges from the 5th to the 16th percentile. This is a relative measurement, not a price target or recommendation, and it assumes the business is still the one its history describes.
Price ladder
The measured price sits in the Discount zone. These are reference zones, not buy instructions or forecasts that the prices will be reached.
What the price assumes
The measured price implies roughly +4.5% annual cash-flow growth, between -1.7% and +9.0% under other reasonable assumptions. Over the last three years it delivered +36.8% a year.
An estimate that depends on its assumptions, not a forecast.
Quality versus peers
Each dimension is shown on its own; they are not combined into a score.
Current analyst snapshot
Shown for reference only; not used in any measurement.
What would have to break
- Not triggered — Revenue decline
- Not triggered — Margin break
- Not triggered — Cash burn with rising debt
- Not triggered — Heavy dilution
- Not triggered — Warning language in filings
News
No recent brief on this company.