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$CRM$213.85 ▼3.8%
Salesforce, Inc.
WHAT THEY DO
Salesforce sells cloud software that companies use to manage sales, customer service, marketing and internal workflows, mainly through subscription fees. Its core products are Sales Cloud, Service Cloud, Marketing Cloud, Commerce Cloud, Slack and the Data Cloud/AI (Agentforce) platform.
💎 CONVERGENCE PLAY — in 2 themes
Enterprise AI AgentsCloud SoftwareData Cloud
PRICE
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REVENUE MIX
Sales & Service Cloud52%
Platform & Other (Slack, Tableau, MuleSoft)22%
Marketing & Commerce Cloud14%
Professional Services & Other12%
COST
COGS23%
R&D16%
SG&A40%
Op Margin21%
FINANCIAL HEALTH
Reported through Jul 31, 2026
Figures are trailing twelve months (TTM) unless marked otherwise.
REVENUE
$43.9B
Growth
11%
QTR YOY
Gross M.
77%
P/E
19.6
EV/EBITDA
16.6
Net M.
22%
FCF M.
40%
D/E
0.25
LATEST QTR
Op M.
21%
PLUG INTO YOUR DCF
Historical growth
14.3%
Analyst 5y growth
—
Forward P/E
13.4
PEG ratio
0.80
Trailing EPS
$10.90
Forward EPS
$16.00
Multiple compressing
Forward P/E is lower than trailing — earnings are expected to grow into the price.
CAPEX & R&D — LAST 0 FISCAL YEARS (SEC FILINGS)
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TAM
SIZE
$330B by 2030
CAGR
9%
Global CRM and enterprise application software spend is roughly $100B today and is forecast to reach about $330B by 2030 as companies digitize sales and service and layer AI agents on top. Salesforce is the category leader, so it captures a large share of this pool, but growth is slowing as the market matures and AI-native rivals enter.
RISK ASSESSMENT
HIGAI-native and agentic competitors (Microsoft Copilot, startups) could commoditize seat-based CRM and pressure pricing and growth.
MEDSlowing organic growth and large M&A integration risk (Slack, Informatica) may dilute margins and distract management.
LOWFX and enterprise IT budget cyclicality could cause quarterly bookings volatility.
🐂 BULL
Salesforce is the dominant CRM franchise with 77% gross margins, 21% operating margins and a cheap 22x P/E, while Agentforce gives it a credible path to re-accelerate growth by monetizing AI on top of its installed base.
🐻 BEAR
Growth has decelerated to low-double digits and AI agents may erode the per-seat model, so the stock could stay a value trap if Agentforce adoption and margin expansion disappoint.
EARNINGS
EPS · Q2 FY2027
Beat ✓
REVENUE
Miss
MANAGEMENT TONE
BearishBullish
🔗 IMPACT ON YOUR THESIS
Agentforce and Data Cloud become a meaningful growth driver
Watch→Watch
Agentforce ARR growing but still small relative to total revenue
Operating margin expansion toward mid-20s
On Track→On Track
Margin beat on cost discipline
Durable double-digit subscription revenue growth
Watch→Watch
Revenue roughly in line, slight deceleration in cRPO
AI-powered data, computed by TreasureX · May contain inaccuracies
⚠️
All values, scores, and figures here are computed from your own assumptions and public data, for educational purposes only. This is not investment advice — TreasureX does not recommend buying or selling any security. Results change with your inputs. Please do your own research and use your own judgement before making any investment decision.