Salesforce, Inc. (CRM)

Valuation as at 2026-09-25 · see also the S&P 500 Most Undervalued screen

About Salesforce, Inc.

Salesforce, Inc. provides customer relationship management technology services that connect companies and customers together in the United States, Europe, and the Asia Pacific. The company offers Agentforce, which enables customers to build, deploy, and manage enterprise-grade, autonomous AI agents at scale, enabling humans and agents to work together; Agentforce Sales, an integrated platform that brings together the power of humans with AI agents to help sales teams for selling, managing, and automating entire sales processes; Agentforce Service, which enables companies in every industry to bring all of their customer, employee, IT, and field service needs onto one integrated AI-powered platform; Data 360, a data engine that gives AI agents their context and serves as the foundation for how customers unify service offerings, making their data actionable for both humans and agents; Informatica, an AI-powered data management platform that enables customers to discover, integrate, govern, and deliver trusted data at scale across hybrid and multi-cloud environments; and Slack, a conversational interface for the agentic enterprise where people and agents work together, connecting knowledge, actions, and data in real time.

Source: Yahoo Finance company profile · factual description, not KashVector commentary

Salesforce, Inc. CRM

Technology · Software - Application

Price
$238.22
Market Cap
$196.06B
Free Cash Flow
$17.73B
Beta
1.20
P/E (TTM)
21.8x
52-Week Range
$146.32–$269.11

Salesforce, Inc.'s price & financial trends

Each card is labelled with its own reporting period — quarterly where Yahoo provides it for this market, annual otherwise.

Data as at 2026-09-25

Share price · last 2 years

$238.22 -13% vs 2024-09
S&P 500 $273.71$297.85$258.33$264.91$191.10$238.22 2024-092025-022025-072025-122026-052026-09

Earnings per share (diluted) Per quarter

$4.29 +119% vs Q3 '25
$1.96$2.19$2.07$2.42$4.29Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26

Free cash flow Per quarter

$1.10B +81% vs Q3 '25
$0.60B$2.18B$5.32B$6.56B$1.10BQ3 '25Q4 '25Q1 '26Q2 '26Q3 '26

Dividend per share Per quarter

$0.44 +7% vs Q3 '25
$0.41$0.41$0.42$0.42$0.44Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26

Value investing scale · Buffett · Dalio · Graham

Partial Fit
10 / 20 combined score

See the full Buffett, Dalio & Graham breakdown for CRM →

Solvency Check

Altman Z3.03 · Safe
Piotroski F7/9 · Deteriorating
▾ Solvency Check details

Altman Z-Score combines 5 ratios into one weighted number — Z = 1.2·X1 + 1.4·X2 + 3.3·X3 + 0.6·X4 + 1.0·X5 — then bands the result: Safe Zone above 2.99, Grey Zone 1.81–2.99, Distress Zone below 1.81. Piotroski F-Score checks 9 yes/no criteria against the prior fiscal year — profitability, leverage & liquidity, and operating efficiency — 1 point each, out of 9. Both are a measurement of the underlying numbers, not a recommendation.

Altman Z-Score — inputs

X1 · Working Capital / Total Assets-0.08
X2 · Retained Earnings / Total Assets0.20
X3 · EBIT / Total Assets0.08
X4 · Market Value of Equity / Total Liabilities3.69
X5 · Sales / Total Assets0.37

Piotroski F-Score — 9 criteria

Positive return on assets6.6%
Positive operating cash flow14,996,000,000
Return on assets improved year over year6.6% vs 6.0%
Operating cash flow exceeds net income14,996,000,000 vs 7,457,000,000
Leverage decreased year over year15.3% vs 11.1%
Current ratio improved year over year0.76x vs 1.06x
No new share dilution929,000,000 vs 962,000,000
Gross margin improved year over year77.7% vs 77.2%
Asset turnover improved year over year0.37x vs 0.37x

AI Sector Correlation

AI sector (AIQ) 0.07 Low

A weak but present link to AI-sector price moves.

How it's calculated →

AI hardware (semiconductors, SMH) -0.23 Inverse

Tends to move against semiconductor stocks, beyond what broad-market movement explains.

How it's calculated →

Intrinsic value estimate · 5-year forecast

BEAR
$218.25
vs current $238.22
-8.4% ⚠️ Fairly Valued
BASE
$295.85
vs current $238.22
+24.2% ✅ Undervalued
BULL
$407.70
vs current $238.22
+71.1% ✅ Undervalued

Assumptions used in this valuation

Every input below is either fetched live from Yahoo Finance or a documented default — nothing is hidden.

Starting free cash flow
$17.73B
Reported free cash flow (Yahoo)
Risk-free rate
5.16% ● LIVE
Live 10-yr govt bond
Beta
1.20
Direct from Yahoo
Equity risk premium
4.42%
Market-specific seed
Cost of debt
5.00%
Estimated (no debt/interest data)
Tax rate
25.00%
Estimated default
Capital structure
E 82% / D 18%
Market cap vs total debt
Projection horizon
5 years
+ terminal value beyond
BearBaseBull
5-yr FCF growth3.1%6.2%9.3%
Terminal growth2.5%2.5%2.5%
WACC (discount rate)10.28%9.28%8.28%

Cost of Equity = Risk-free rate + Beta × Equity Risk Premium = 5.16% + 1.20 × 4.42% = 10.47% · WACC = weighted by 82%/18% capital structure

These numbers come from running Salesforce, Inc.'s cash flows through the mechanical DCF formula and assumptions above — not from any view on the news, management, or CRM's competitive position. What is DCF?

Want to test your own growth or discount-rate assumptions?Open the full interactive calculator, pre-filled with CRM →

Not financial advice. DCF valuations are highly sensitive to assumptions — small changes in growth rate or discount rate produce large swings in output. This is a mechanical calculation, not a recommendation to buy, hold, or sell.

About this valuation

Computed on 2026-09-25 from Yahoo Finance data, using the same engine as the full DCF tool and the S&P 500 Most Undervalued screen. Every figure above is a point-in-time snapshot of that date — change any assumption yourself in the interactive tool for a live one.

Frequently asked questions

Is Salesforce, Inc. (CRM) undervalued?

The Base-case DCF estimates intrinsic value at $295.85 vs a price of $238.22 on 2026-09-25 — a +24.2% margin, so the Base case reads undervalued. This is a mechanical output, not advice.

What is "AI Sector Correlation"?

A measure of how closely this stock's daily price movements have tracked the AI sector over the trailing 12 months, after removing the effect of general stock-market movement. It is shown against two benchmarks: a broad AI-themed ETF (AIQ) and a semiconductor ETF (SMH), the hardware side of the AI boom. It answers "does this stock move with AI-sector sentiment specifically, beyond just moving with the market overall?" — not whether the company's revenue comes from AI.

How is it calculated?

We compute daily returns for the stock, the two AI ETFs (AIQ and SMH), and an equal-weight broad-market ETF over the trailing year, then calculate the partial correlation between the stock and each AI ETF while statistically controlling for the broad-market ETF. This isolates AI-specific co-movement from ordinary market-wide moves — a stock correlated with the market generally (which most large stocks are) doesn't automatically score as AI-correlated. See the full glossary entry for the formula and its limits.

What does "Inverse" mean?

A reading of -0.20 or lower. After removing general market movement, the stock has tended to rise when the AI sector (or semiconductor stocks) fall, and fall when they rise. It is a strong link, just in the opposite direction, which is why it is coloured red like High. It describes past price behaviour, not a prediction.

What is the "AI hardware" reading, and why show two numbers?

The broad AI ETF mixes hardware, cloud and software companies, so a stock can look unrelated to it while moving strongly with, or against, semiconductor stocks. For example, some large software companies have shown a near-zero reading against the broad AI ETF but a clearly negative one against semiconductors. Showing both lets you see either pattern. See the AI Hardware Correlation guide for how the semiconductor reading works.

What do the colours mean?

The colour shows how strongly the stock's price has been tied to the AI sector, in either direction. It is not a good or bad rating. Red means a strong link: High (moves with the AI sector) or Inverse (moves against it). Amber is Moderate, green is Low, and cyan means no meaningful link (None). Red is not a quality or valuation warning.

Does a high score mean I should buy this stock?

No. This is a descriptive statistic about historical price co-movement, not a valuation judgment or a recommendation. A stock can show high AI correlation and still be overvalued, and a stock with no AI correlation can still be a sound investment for other reasons. Use it alongside the valuation and framework scores above, not in place of them.

Why might a genuinely AI-linked company still show "None"?

Correlation measures how the market has priced the stock recently, not the company's actual business exposure. A company can have a real AI-infrastructure story (for example, supplying power or components to data centres) without the market yet trading its shares in sync with AI-sector sentiment — the underlying business case and the price pattern are two different things.

Why do some international stocks score lower than expected?

Stocks listed outside the US (for example on the ASX or KRX) trade on a different calendar to the US-listed AI ETFs used for this comparison, so there are fewer directly overlapping trading days to compare. This can understate the correlation for otherwise AI-linked international companies — a known limitation of the method, not a judgment about the company.