Source: Salesforce, Inc. Form 10-K and Annual Report For the fiscal year ended January 31, 2026.
- 1. Quick Facts / Company Snapshot
- 2. Company Overview
- 3. Business Segments
- 4. History and Evolution
- 5. Products and Services
- 6. Brand Portfolio
- 7. Geographical Presence
- 8. Profit and Loss
- 9. Balance Sheet
- 10. Cash Flow
- 11. Board of Directors and Leadership Team
- 12. Subsidiaries, Associates, Joint Ventures
- 13. Other Investments (Including Minority / Portfolio Holdings)
- 14. Physical Properties
- 15. Founders
- 16. Investments and Capital Expenditure Plans
- 17. Shareholding Pattern
- 18. Future Strategy
- 19. Key Strengths
- 20. Key Challenges and Risks
- 21. Conclusion and Strategic Outlook
Quick Facts / Company Snapshot
| Metric / Attribute | Disclosed Value / Fact |
| Official Company Name | Salesforce, Inc. |
| Stock Exchange & Ticker Symbol | New York Stock Exchange: CRM |
| Commission File Number | 001-32224 |
| State of Incorporation | Delaware |
| IRS Employer Identification No. | 94-3320693 |
| Global Headquarters | Salesforce Tower, 415 Mission Street, 3rd Floor, San Francisco, CA 94105 |
| Founding Year | 1999 |
| Chair and Chief Executive Officer | Marc Benioff |
| Total Global Headcount | 83,334 employees (as of January 31, 2026) |
| Reporting Fiscal Year Ended | January 31, 2026 |
| Total Annual Revenue | $41,525 million |
| GAAP Operating Income | $8,331 million |
| Non-GAAP Operating Income | $14,156 million |
| GAAP Net Income | $7,457 million |
| Diluted Net Income Per Share | $7.80 |
| Net Cash Provided by Operating Activities | $14,996 million |
| Capital Expenditures | $594 million |
| Total Cash, Equivalents & Marketable Securities | $9,565 million |
| Total Assets | $112,305 million |
| Total Stockholders’ Equity | $59,142 million |
| Total Remaining Performance Obligation (RPO) | $72.4 billion |
Source: Salesforce, Inc. Form 10-K and Annual Report For the fiscal year ended January 31, 2026.
Company Overview
Salesforce, Inc. is a global leader in customer relationship management (CRM) technology, providing cloud-based platforms and applications engineered to connect companies and customers in an all-digital, work-from-anywhere environment. Founded in 1999, the enterprise operates on a multi-tenant technology architecture that unifies data, applications, workflows, and artificial intelligence agents onto a single enterprise system of action known as the Agentforce 360 Platform. Through this architecture, the company delivers a single, trusted source of customer truth across front-office business functions, including sales, customer service, marketing, digital commerce, analytics, integration, and collaboration.
The company’s primary corporate mission centers on helping organizations of any size and industry transform into “Agentic Enterprises”. By embedding autonomous digital labor into day-to-day employee workflows, the platform enables humans and autonomous AI agents to collaborate seamlessly. Under this operating model, human workers set strategic direction, define business rules, and establish operating boundaries, while autonomous AI agents execute tasks, reason through complex inquiries, qualify leads, schedule appointments, and resolve customer support cases at enterprise scale.
- Pioneering enterprise cloud multi-tenancy, allowing multiple organizations to run isolated virtual instances on shared infrastructure to lower delivery overhead and speed feature deployment.
- Operating on core values grounded in legal and regulatory compliance, explicitly defined as trust, customer success, innovation, equality, and sustainability.
- Integrating autonomous digital labor into enterprise software, deploying always-on AI agents that operate alongside human employees directly within native interfaces.
The platform operates across public cloud infrastructure through Hyperforce—Salesforce’s next-generation infrastructure architecture—as well as company-managed third-party data center co-location facilities located throughout the United States, Europe, and Asia. Hyperforce provides enterprise clients with local data residency, strict governance controls, and global compliance standards. Embedded within this architecture is the Salesforce Trust Layer, a suite of native security controls that ensures client data remains permissioned, compliant, and protected from unauthorized large language model (LLM) training.
Salesforce delivers its software primarily via subscription agreements spanning 12 to 36 months, sold directly through an internal sales force and augmented by global consulting firms, system integrators, and independent software vendors (ISVs). Complementing its core software, the company operates AppExchange, an enterprise cloud marketplace where third-party developers offer pre-built applications, and Trailhead, a free online learning engine that trains a global developer and administrator community referred to as “Trailblazers”.
Business Segments
Salesforce evaluates and manages its business operations as a single operating segment. The company’s Chief Operating Decision Maker (CODM)—the Chief Executive Officer—allocates capital, assesses operational performance, and directs resources on a consolidated basis. This structural approach is maintained because the majority of the company’s service offerings are built on the unified Agentforce 360 Platform, share identical underlying infrastructure, and are deployed to clients through standardized sales channels.
While corporate performance is measured as one reporting unit, the company classifies its top-line revenue into two distinct commercial sources: subscription and support revenues, and professional services and other revenues.
| Revenue Source | FY26 Revenue ($ in millions) | FY25 Revenue (inmillions)∣FY24Revenue( in millions) | FY26 % of Total Revenue | FY25 % of Total Revenue | FY24 % of Total Revenue |
| Subscription and support | $39,388 | $35,679 | $32,537 | 94.85% (Calculated by FirmsWorld) | 94.15% (Calculated by FirmsWorld) |
| Professional services and other | $2,137 | $2,216 | $2,320 | 5.15% (Calculated by FirmsWorld) | 5.85% (Calculated by FirmsWorld) |
| Total revenues | $41,525 | $37,895 | $34,857 | 100.00% | 100.00% |
Source: Salesforce, Inc. Form 10-K and Annual Report For the fiscal year ended January 31, 2026.
The revenue breakdown underscores the dominance of the cloud recurring model. Over the past three fiscal periods, recurring subscription contracts expanded their share of aggregate receipts from 93.34% to 94.85%, reflecting customer migration toward multi-year platform commitments. Meanwhile, consulting and implementation services decreased, dropping from $2,320 million in FY24 to $2,137 million in FY26.
- Subscription billings are heavily weighted to the fourth quarter, driven by enterprise enterprise-buying cadences that subsequently generate the company’s largest cash collections in the first quarter.
- Contract renewals average 12 to 36 months, insulating top-line stability through ratable, straight-line revenue recognition across extended contract periods.
- Professional services contraction reflects strategic partner offloading, as management directs multi-year digital transformation rollouts toward global systems integrators.
Profile: Subscription and Support
The subscription and support division serves as the financial and operational engine of Salesforce. This line of business encompasses recurring fees paid by enterprise customers to access cloud-hosted applications, autonomous AI agents, and real-time data engines. Customers access these capabilities without taking physical possession of the software, enabling Salesforce to recognize revenue ratably over the duration of each noncancellable agreement.
A minor component of subscription revenue—representing less than 10% of the total—derives from term software licenses associated with specific analytics and integration offerings. Unlike multi-tenant cloud hosting, revenue from term software licenses is recognized upfront at a point in time when the software code is made accessible to the customer. Support fees linked to these software licenses and extended support tiers are recognized ratably as updates and technical services are delivered.
Profile: Professional Services and Other
Professional services and other revenues encompass direct technical consulting, enterprise solution architecture, business process mapping, implementation, and corporate education. Salesforce provides these services on a fixed-price, time-and-materials, or subscription basis to accelerate client deployment of complex, multi-cloud architectures.
To bridge technical delivery gaps during AI implementations, Salesforce deploys Forward Deployed Engineers (FDEs). These engineers work side-by-side inside customer development units, writing custom integrations, calibrating Data 360 pipelines, and embedding Agentforce autonomous agents directly into proprietary workflows. Training operations generate additional receipts through structured certification exams and learning courses administered both online and in person.
History and Evolution
Salesforce was founded in February 1999 with the vision of replacing traditional, on-premises business software with applications delivered over the Internet via software-as-a-service (SaaS). Operating from its original base in San Francisco, California, the company pioneered commercial multi-tenancy, proving that enterprise clients could securely access enterprise-grade sales tracking and customer relationship management applications through an ordinary web browser. In 2004, the company listed its common stock on the New York Stock Exchange under the ticker symbol “CRM”.
Throughout its first two decades, Salesforce systematically expanded its technology surface area beyond core sales automation. The group developed dedicated service and marketing solutions, launched the AppExchange cloud marketplace, and pioneered low-code application development platforms. To accelerate technical capabilities and expand into adjacent data markets, Salesforce executed major strategic business acquisitions, integrating integration platform MuleSoft, analytics engine Tableau, and workplace collaboration platform Slack.
- 1999: Founded in San Francisco to pioneer cloud-based, multi-tenant enterprise applications.
- 2004: Initial public offering on the New York Stock Exchange (CRM).
- FY24–FY25: Implementation of operational restructuring initiatives, cutting workforce headcount, vacating leased office spaces, and exiting select data centers to expand operating margins.
- Q3 FY25: Introduction of Agentforce, marking the enterprise pivot from basic assistive automation to autonomous AI agents.
- October 2025 (FY26): Acquisition of Regrello Corp. to integrate native AI business process automation.
- November 2025 (FY26): Closing of the $9.6 billion acquisition of Informatica, Inc., securing enterprise data management and catalog capabilities.
- March 2026: Announcement and commencement of a historic $25 billion accelerated share repurchase program.
The most recent operating phase—designated by management as the “Agentic Revolution”—focuses on rearchitecting the entire enterprise application suite. Rather than treating generative AI as an external chatbot add-on, the enterprise re-engineered its underlying metadata architecture, connecting live business data from Data 360 to reasoning models inside Agentforce. This structural shift was accelerated in fiscal 2026 through the acquisition of Informatica, expanding the platform’s data integration, governance, and master data management reach across complex hybrid and multi-cloud IT environments.
Products and Services
Salesforce groups its primary products into solution-specific service offerings under the Agentforce umbrella, uniting sales, customer care, data management, messaging, analytics, and vertical applications.
| Service Offering | FY26 Revenue ($ in millions) | FY25 Revenue (inmillions)∣FY24Revenue( in millions) | FY26 % of Total Revenue | FY25 % of Total Revenue | FY24 % of Total Revenue |
| Agentforce Service | $9,818 | $9,054 | $8,245 | 23.64% (Calculated by FirmsWorld) | 23.89% (Calculated by FirmsWorld) |
| Agentforce Sales | $9,028 | $8,322 | $7,580 | 21.74% (Calculated by FirmsWorld) | 21.96% (Calculated by FirmsWorld) |
| Agentforce 360 Platform, Slack and Other | $8,882 | $7,247 | $6,611 | 21.39% (Calculated by FirmsWorld) | 19.12% (Calculated by FirmsWorld) |
| Agentforce Integration and Analytics | $6,232 | $5,775 | $5,189 | 15.01% (Calculated by FirmsWorld) | 15.24% (Calculated by FirmsWorld) |
| Agentforce Marketing and Commerce | $5,428 | $5,281 | $4,912 | 13.07% (Calculated by FirmsWorld) | 13.94% (Calculated by FirmsWorld) |
| Professional services and other | $2,137 | $2,216 | $2,320 | 5.15% (Calculated by FirmsWorld) | 5.85% (Calculated by FirmsWorld) |
| Total revenues | $41,525 | $37,895 | $34,857 | 100.00% | 100.00% |
Source: Salesforce, Inc. Form 10-K and Annual Report For the fiscal year ended January 31, 2026.
Customer service and core sales automation form the bedrock of revenue, jointly accounting for 45.38% of total fiscal 2026 turnover. The platform offering demonstrated the fastest expansion, rising by 22.56% year-over-year in dollar terms, partially bolstered by $388 million in subscription revenue contributed by newly acquired Informatica. Integration, analytics, marketing, and commerce demonstrated stable, single-digit growth trajectories.
- Informatica contributed $399 million in total revenue, comprising $388 million in subscription and support revenue and $11 million in professional services between November 2025 and January 31, 2026.
- Annual recurring revenue (ARR) from Agentforce reached $800 million, expanding 169% year-over-year.
- Combined Agentforce and Data 360 ARR expanded 200% year-over-year to $2.9 billion, representing the fastest-growing organic product category in corporate history.
Profile: Agentforce Service
Agentforce Service represents the company’s largest standalone revenue-generating service offering. The platform is engineered to unify customer support, internal employee technical service, IT helpdesk operations, and field dispatch operations onto a centralized, AI-augmented infrastructure. By deploying autonomous customer care agents, clients automate the intake, categorization, and resolution of routine and low-touch support cases.
The application uses contextual data ingested from Data 360 to generate grounded, policy-compliant responses to inquiries across email, chat, voice, and web portals. In addition to text generation, the software automatically routes complex escalations to qualified human agents, auto-summarizes service logs, and produces field service work orders. For on-site field technicians, the suite provides real-time job tracking, intelligent dispatch scheduling, and mobile inventory coordination.
Profile: Agentforce Sales
Agentforce Sales provides digital tooling to manage end-to-end commercial pipelines, territory planning, contract lifecycle management, sales forecasting, and order processing. The suite pairs human sales professionals with autonomous digital agents designed to conduct prospecting research, draft personalized outreach, qualify incoming marketing leads, and update CRM records automatically.
Through integrated partner management capabilities, organizations coordinate distribution agreements, channel pipelines, and incentive compensation programs. The solution unifies customer communication channels so that interactions, phone summaries, meeting notes, and order histories converge into a single account profile. This centralized context enables sales teams to forecast quarterly pipeline performance and automate contract workflows without manual data re-entry.
Profile: Agentforce 360 Platform, Slack and Other
This division unifies the fundamental operating platform of Salesforce alongside the Slack collaboration interface and newly acquired enterprise data operations. The Agentforce 360 Platform allows technical and non-technical business personnel to build custom workflows, design automated applications, and configure autonomous agents using no-code and low-code developer tooling. Governance, identity management, and compliance controls are enforced globally via the Hyperforce cloud infrastructure layer.
Central to this ecosystem is Slack, which functions as the primary conversational workspace for human-agent collaboration across more than one million business customers. Within Slack, human employees interact with Slackbot—a personalized digital teammate capable of answering inquiries, scheduling calendar commitments, summarizing channels, and executing multi-step actions across external enterprise software. Also housed in this segment is Data 360, the hyperscale data engine that ingested 112 trillion records in FY26. Data 360 utilizes zero-copy federation technology to read external data warehouses without expensive replication, transforming unstructured documents, emails, and conversation logs into contextual fuel for AI agents.
Profile: Agentforce Integration and Agentforce Analytics
The integration and business intelligence portfolio combines the infrastructure capabilities of MuleSoft and Tableau. MuleSoft delivers API management, enterprise service bus infrastructure, and automated connectors that bridge disparate legacy systems, on-premises mainframes, and modern cloud applications. Through the MuleSoft Agent Fabric, organizations manage, secure, govern, and audit AI agents across the enterprise, establishing a centralized registry to discover and reuse automated assets.
Tableau provides visual analytics, exploratory data intelligence, and executive reporting dashboards. Operating natively on the platform, Tableau Semantics translates raw data schema into standard business language, allowing autonomous agents to query database metrics and act on statistical trends. Users can command agents directly from visual dashboards to trigger external operations, such as launching targeted marketing interventions, escalating customer churn risks, or updating revenue forecasts.
Profile: Agentforce Marketing and Agentforce Commerce
The marketing suite enables brands to orchestrate two-way customer communication across the entire buyer journey. Marketers use Agentforce to generate campaign briefs, build personalized email journeys, design web content, and segment consumer audiences based on unified 360-degree customer profiles. Embedded predictive models evaluate active customer engagement, triggering automated promotional offers and retention incentives to re-engage inactive accounts.
Agentforce Commerce coordinates digital storefronts, order management, inventory visibility, and checkout across direct-to-consumer and business-to-business retail channels. Brands deploy autonomous Shopper Agents that assist consumers using natural conversational language, executing real-time product lookups, offering sizing advice, and checking order fulfillment status. The system provides click-to-code customization tools, enabling merchandising teams to generate product descriptions and launch localized storefronts rapidly.
Profile: Specialized Solutions (Industries & Starter Suite)
Beyond functional front-office clouds, Salesforce offers Industries AI—a library of specialized software capabilities pre-configured for more than 200 distinct vertical markets, including financial services, healthcare, life sciences, manufacturing, automotive, and public sector governance. These industry solutions contain pre-built regulatory rules, workflows, and autonomous agents designed to perform sector-specific tasks out of the box.
For small and medium-sized commercial enterprises, the company provides Starter Suite. Starter Suite bundles core sales pipeline tracking, customer service ticketing, email marketing, and simple payment collection into an entry-level, simplified user interface. This unified environment allows growing businesses to establish structured customer databases without deploying large systems integration teams.
Brand Portfolio
Salesforce maintains an extensive corporate portfolio of globally recognized commercial software brands. These brands are operated as an integrated system of action rather than standalone silos, with several brands generating specific standalone recurring and total revenues disclosed in the annual report.
| Disclosed Brand / Offering | Disclosed Financial Metric | Operational Brand Scope / Role |
| Agentforce | $800M ARR; 29,000 deals | Autonomous enterprise AI agent development, orchestration, and execution layer |
| Informatica | $399M total revenue ($388M subscription) | AI-powered hybrid cloud data integration, master data management, and data cataloging |
| Data 360 | $2.9B ARR combined with Agentforce | Hyperscale data engine; zero-copy federation; 112 trillion records ingested in FY26 |
| Slack | Over 1 million business customers | Primary conversational collaboration workspace; host environment for Slackbot |
| Tableau | Included in Integration & Analytics ($6,232M) | Visual analytics, executive reporting, business intelligence, and Tableau Semantics |
| MuleSoft | Included in Integration & Analytics ($6,232M) | Unified API management, system connectivity, automation, and MuleSoft Agent Fabric |
Source: Salesforce, Inc. Form 10-K and Annual Report For the fiscal year ended January 31, 2026.
The brand structure demonstrates an enterprise transition toward agentic computation. Traditional infrastructure brands like MuleSoft and Tableau have been retooled into execution mechanisms for autonomous agents. Meanwhile, newly acquired assets, such as Informatica, immediately expanded the company’s enterprise footprint by providing clean, governed data pipelines required to ground machine learning reasoning engines.
- Informatica added $3,818 million in identifiable intangible assets, including $1,620 million in developed technology and $1,840 million in customer relationships.
- Customer adoption spanned 29,000 closed Agentforce transactions, with enterprise deployments executed at Amazon, Ford, AT&T, and General Motors.
- Anthropic and nearly 90% of Forbes’ top 50 AI companies run on Salesforce platforms, validating corporate infrastructure among leading AI developers.
Profile: Agentforce
Agentforce represents Salesforce’s flagship brand for autonomous enterprise computing. The platform enables companies to build, test, deploy, and monitor digital agents capable of reasoning independently, interpreting customer inquiries, and executing workflows across enterprise applications. By pairing large language model intelligence with deterministic business logic defined in metadata, Agentforce prevents hallucination and guarantees operational guardrails.
Profile: Data 360
Data 360 operates as the foundational data fabric across the company’s software suite. It consolidates enterprise records across distributed databases, data lakes, and transactional systems without duplicating underlying storage. In fiscal 2026, the engine processed 112 trillion records, indexing structured database fields alongside unstructured documents, customer emails, and voice transcripts to provide autonomous agents with complete business context.
Profile: Informatica
Acquired in November 2025, Informatica is an established brand in enterprise data management. The platform provides data cataloging, quality governance, master data management, and integration capabilities across multi-cloud and on-premises environments. Informatica provides the data connectivity needed to ingest complex external data into Data 360 while tracking end-to-end data lineage and regulatory compliance.
Profile: Slack
Slack serves as the conversational operating system for the modern enterprise, connecting knowledge workers, automated applications, and autonomous agents in real time. With over one million business clients, Slack functions as the natural language interface where employees assign projects, approve automated requests, and collaborate with Slackbot to query company databases and orchestrate complex business actions.
Profile: MuleSoft
MuleSoft provides the integration plumbing that connects enterprise software through APIs, microservices, and automated workflows. Through its Agent Fabric framework, MuleSoft acts as an administrative control tower, allowing IT organizations to observe, manage, and secure agents regardless of whether they were built within Salesforce or developed externally on third-party frameworks.
Profile: Tableau
Tableau is the enterprise standard for data visualization, dashboarding, and self-service analytics. Through Tableau Semantics, the platform standardizes complex business calculations into plain terminology, allowing both human decision-makers and autonomous AI agents to explore data patterns, forecast pipeline trends, and trigger workflow actions directly from visual charts.
Geographical Presence
Salesforce markets and delivers its cloud solutions globally, dividing its operations into three primary geographic territories: the Americas, Europe, and Asia Pacific. Geographic revenues are reported based on the location of the Salesforce contracting legal entity, which may differ from the physical location of the end customer.
| Geographic Region | FY26 Revenue ($ in millions) | FY25 Revenue (inmillions)∣FY24Revenue( in millions) | FY26 % of Total Revenue | FY25 % of Total Revenue | FY24 % of Total Revenue |
| Americas | $27,193 | $25,143 | $23,289 | 65.49% (Calculated by FirmsWorld) | 66.35% (Calculated by FirmsWorld) |
| Europe | $10,017 | $8,891 | $8,128 | 24.12% (Calculated by FirmsWorld) | 23.46% (Calculated by FirmsWorld) |
| Asia Pacific | $4,315 | $3,861 | $3,440 | 10.39% (Calculated by FirmsWorld) | 10.19% (Calculated by FirmsWorld) |
| Total revenues | $41,525 | $37,895 | $34,857 | 100.00% | 100.00% |
Source: Salesforce, Inc. Form 10-K and Annual Report For the fiscal year ended January 31, 2026.
The Americas territory accounts for nearly two-thirds of total turnover, with the United States driving approximately 93% of regional receipts. Across the three years presented, international sales in Europe and Asia Pacific expanded steadily, rising from 33.19% of total revenue in FY24 to 34.51% in FY26. Total corporate turnover was positively impacted by approximately one percent from foreign currency movements during fiscal 2026 compared to fiscal 2025.
- United States generated approximately $25,289.49 million in FY26, representing 93% of Americas regional turnover (Calculated by FirmsWorld).
- Total assets located in the United States reached 82% of consolidated corporate assets as of January 31, 2026, compared to 81% in the prior year.
- Assets located outside the Americas represented 16% of total assets as of January 31, 2026, down slightly from 17% in FY25.
Profile: Americas
The Americas operational theater covers the United States, Canada, and Latin America, representing the corporate headquarters, core product engineering laboratories, and primary sales infrastructure. Operating from regional hubs across North America, direct enterprise sales teams target major accounts in commercial banking, healthcare, retail, and public sector governance. In the United States, the company maintains extensive public-sector compliance certifications, permitting federal, state, and local government agencies to deploy cloud workloads on dedicated government cloud instances.
Profile: Europe
The European operational theater encompasses member states of the European Union, the United Kingdom, Switzerland, and neighboring markets. Business operations are supported through data center infrastructure deployed across the continent, alongside Hyperforce availability zones designed to address European data sovereignty, GDPR, and the Digital Operational Resilience Act (DORA). Revenue in Europe grew 12.66% in FY26, driven by enterprise adoption across industrial manufacturing, automotive engineering, and international financial institutions.
Profile: Asia Pacific
The Asia Pacific operational theater includes Japan, Australia, India, and Southeast Asia. To serve local enterprise requirements, the company operates regional sales hubs and co-location data center infrastructure in key technology metropolitan areas. India serves as both an expanding commercial market and a primary engineering and development center, supporting global product architecture, developer support, and platform maintenance.
Profit and Loss
Salesforce delivered record financial performance in fiscal 2026, surpassing $40 billion in annual revenue while maintaining operating expense discipline.
| Consolidated Statement of Operations Items ($ in millions, except per share data) | FY26 | FY25 | FY24 |
| Subscription and support revenues | $39,388 | $35,679 | $32,537 |
| Professional services and other revenues | $2,137 | $2,216 | $2,320 |
| Total revenues | $41,525 | $37,895 | $34,857 |
| Cost of subscription and support | $6,796 | $6,198 | $6,177 |
| Cost of professional services and other | $2,474 | $2,445 | $2,364 |
| Total cost of revenues | $9,270 | $8,643 | $8,541 |
| Gross profit | $32,255 | $29,252 | $26,316 |
| Research and development | $5,993 | $5,493 | $4,906 |
| Sales and marketing | $14,345 | $13,257 | $12,877 |
| General and administrative | $3,000 | $2,836 | $2,534 |
| Restructuring | $586 | $461 | $988 |
| Total operating expenses | $23,924 | $22,047 | $21,305 |
| Income from operations | $8,331 | $7,205 | $5,011 |
| Gains (losses) on strategic investments, net | $1,017 | $(121) | $(277) |
| Other income | $172 | $354 | $216 |
| Income before provision for income taxes | $9,520 | $7,438 | $4,950 |
| Provision for income taxes | $(2,063) | $(1,241) | $(814) |
| Net income | $7,457 | $6,197 | $4,136 |
| Basic net income per share | $7.85 | $6.44 | $4.25 |
| Diluted net income per share | $7.80 | $6.36 | $4.20 |
| Shares used in computing basic net income per share | 950 | 962 | 974 |
| Shares used in computing diluted net income per share | 956 | 974 | 984 |
Source: Salesforce, Inc. Form 10-K and Annual Report For the fiscal year ended January 31, 2026.
Top-line revenue expanded 9.58% in FY26, driven by volume growth across customer expansions and subscription upgrades. Gross margin remained stable at 77.68%, as revenue growth outpaced the cost of hosting, technical infrastructure delivery, and third-party data center expenditures. Operating income expanded 15.63% year-over-year, reflecting operating leverage across engineering, corporate sales, and general administrative overhead.
| Key Financial Ratio / Metric | FY26 | FY25 | FY24 |
| Gross Margin | 77.68% (Calculated by FirmsWorld) | 77.19% (Calculated by FirmsWorld) | 75.50% (Calculated by FirmsWorld) |
| GAAP Operating Margin | 20.06% (Calculated by FirmsWorld) | 19.01% (Calculated by FirmsWorld) | 14.38% (Calculated by FirmsWorld) |
| Non-GAAP Operating Margin | 34.10% | 33.00% (Calculated by FirmsWorld) | Not Disclosed |
| Net Profit Margin | 17.96% (Calculated by FirmsWorld) | 16.35% (Calculated by FirmsWorld) | 11.87% (Calculated by FirmsWorld) |
| R&D Expense as % of Total Revenue | 14.43% (Calculated by FirmsWorld) | 14.50% (Calculated by FirmsWorld) | 14.07% (Calculated by FirmsWorld) |
| Sales & Marketing as % of Total Revenue | 34.55% (Calculated by FirmsWorld) | 34.98% (Calculated by FirmsWorld) | 36.94% (Calculated by FirmsWorld) |
| G&A Expense as % of Total Revenue | 7.22% (Calculated by FirmsWorld) | 7.48% (Calculated by FirmsWorld) | 7.27% (Calculated by FirmsWorld) |
| Effective Income Tax Rate | 21.67% (Calculated by FirmsWorld) | 16.68% (Calculated by FirmsWorld) | 16.44% (Calculated by FirmsWorld) |
Source: Salesforce, Inc. Form 10-K and Annual Report For the fiscal year ended January 31, 2026.
The reconciliation from GAAP operating income ($8,331 million) to non-GAAP operating income ($14,156 million) highlights the impact of stock compensation and acquisition accounting. Non-GAAP operating adjustments in FY26 comprised $3,480 million in stock-based compensation expense, $1,687 million in amortization of purchased intangibles, and $658 million in restructuring and acquisition-related costs.
- Total stock-based compensation expense reached $3,509 million across all corporate divisions, including $1,287 million in sales and marketing, $1,162 million in R&D, $553 million in cost of revenues, $478 million in G&A, and $29 million in restructuring.
- Net gains on strategic investments contributed $1,017 million to pre-tax income, driven primarily by a $1.2 billion valuation write-up from a single privately held equity investment.
- Effective tax rate climbed from 16.68% to 21.67%, resulting from diminished foreign-derived intangible income deductions and shifting stock compensation tax benefits.
Balance Sheet
Salesforce maintains an asset base exceeding $112 billion, characterized by a substantial goodwill footprint from strategic acquisitions and robust working capital liquidity.
| Consolidated Balance Sheets ($ in millions) | As of January 31, 2026 | As of January 31, 2025 |
| Cash and cash equivalents | $7,327 | $8,848 |
| Marketable securities | $2,238 | $5,184 |
| Accounts receivable, net | $14,339 | $11,945 |
| Costs capitalized to obtain revenue contracts, net (current) | $2,075 | $1,971 |
| Prepaid expenses and other current assets | $2,243 | $1,779 |
| Total current assets | $28,222 | $29,727 |
| Property and equipment, net | $3,120 | $3,236 |
| Operating lease right-of-use assets, net | $2,003 | $2,157 |
| Noncurrent costs capitalized to obtain revenue contracts, net | $2,985 | $2,475 |
| Strategic investments | $7,591 | $4,852 |
| Goodwill | $57,941 | $51,283 |
| Intangible assets acquired through business combinations, net | $6,815 | $4,428 |
| Deferred tax assets and other assets, net | $3,628 | $4,770 |
| Total assets | $112,305 | $102,928 |
| Accounts payable, accrued expenses and other liabilities | $8,253 | $6,658 |
| Operating lease liabilities, current | $548 | $579 |
| Unearned revenue | $24,317 | $20,743 |
| Debt, current | $4,000 | $0 |
| Total current liabilities | $37,118 | $27,980 |
| Noncurrent debt | $10,439 | $8,433 |
| Noncurrent operating lease liabilities | $2,189 | $2,380 |
| Other noncurrent liabilities | $3,417 | $2,962 |
| Total liabilities | $53,163 | $41,755 |
| Preferred stock | $0 | $0 |
| Common stock | $1 | $1 |
| Treasury stock, at cost | $(32,228) | $(19,507) |
| Additional paid-in capital | $68,835 | $64,576 |
| Accumulated other comprehensive income (loss) | $313 | $(266) |
| Retained earnings | $22,221 | $16,369 |
| Total stockholders’ equity | $59,142 | $61,173 |
| Total liabilities and stockholders’ equity | $112,305 | $102,928 |
Source: Salesforce, Inc. Form 10-K and Annual Report For the fiscal year ended January 31, 2026.
The expansion of consolidated total assets to $112,305 million reflects purchase accounting from the Informatica and Regrello acquisitions, which collectively contributed to an increase in goodwill to $57,941 million and intangible assets to $6,815 million. Liquid reserves—comprising cash, cash equivalents, and marketable securities—declined from $14,032 million to $9,565 million as capital was directed toward acquisitions, share repurchases, and dividend distributions.
Unearned revenue expanded 17.23% to $24,317 million, demonstrating healthy booking momentum. Current debt increased from zero to $4,000 million following the draw of the 364-day Informatica credit agreement used to fund the transaction. Total debt obligations increased to a principal carrying value of $14,439 million.
| Borrowing Instrument | Outstanding Principal ($ in millions) | Maturity Date | Contractual Interest Rate | Interest Terms |
| 364-day Informatica Credit Agreement | $4,000 | November 2026 | 4.42% | Floating (SOFR / Base Rate) |
| Three-year Informatica Credit Agreement | $2,000 | November 2028 | 4.42% | Floating (SOFR / Base Rate) |
| Revolving Loan Credit Facility | $0 | October 2029 | Base + 0.00% / Benchmark + 0.50–0.85% | Floating ($5.0B undrawn facility) |
| 2028 Senior Notes | $1,500 | April 2028 | 3.70% | Fixed |
| 2028 Senior Sustainability Notes | $1,000 | July 2028 | 1.50% | Fixed |
| 2031 Senior Notes | $1,500 | July 2031 | 1.95% | Fixed |
| 2041 Senior Notes | $1,250 | July 2041 | 2.70% | Fixed |
| 2051 Senior Notes | $2,000 | July 2051 | 2.90% | Fixed |
| 2061 Senior Notes | $1,250 | July 2061 | 3.05% | Fixed |
| Total principal outstanding | $14,500 | — | — | Carrying Value: $14,439M |
Source: Salesforce, Inc. Form 10-K and Annual Report For the fiscal year ended January 31, 2026.
- Principal debt repayment schedule requires $4,000 million in FY27, zero in FY28, $4,500 million in FY29, zero in FY30 and FY31, and $6,000 million thereafter.
- Total stockholders’ equity stood at $59,142 million, reduced by $12,721 million in common stock repurchased into treasury stock, offset by $7,457 million in net income.
- Operating lease obligations total $2,737 million on the balance sheet, comprised of $548 million in current operating lease liabilities and $2,189 million in noncurrent obligations.
Cash Flow
Salesforce generates substantial cash from its operational engine, converting upfront annual enterprise billings into predictable liquidity.
| Consolidated Statement of Cash Flows Items ($ in millions) | FY26 | FY25 | FY24 |
| Net cash provided by operating activities | $14,996 | $13,092 | $10,234 |
| Business combinations, net of cash acquired | $(9,268) | $(2,734) | $(82) |
| Purchases of strategic investments | $(1,958) | $(539) | $(496) |
| Sales of strategic investments | $184 | $126 | $108 |
| Purchases of marketable securities | $(3,763) | $(6,879) | $(3,761) |
| Sales of marketable securities | $4,414 | $4,143 | $1,511 |
| Maturities of marketable securities | $2,395 | $3,378 | $2,129 |
| Capital expenditures | $(594) | $(658) | $(736) |
| Net cash used in investing activities | $(8,590) | $(3,163) | $(1,327) |
| Proceeds from issuance of debt, net | $6,000 | $0 | $0 |
| Repurchases of common stock | $(12,596) | $(7,829) | $(7,620) |
| Taxes paid related to net share settlement of equity awards | $(351) | $0 | $0 |
| Proceeds from employee stock plans | $1,039 | $1,540 | $1,954 |
| Principal payments on financing obligations | $(584) | $(603) | $(629) |
| Repayments of debt | $0 | $(1,000) | $(1,182) |
| Payments of dividends and dividend equivalents | $(1,587) | $(1,537) | $0 |
| Net cash used in financing activities | $(8,079) | $(9,429) | $(7,477) |
| Effect of exchange rate changes | $152 | $(124) | $26 |
| Net increase (decrease) in cash and cash equivalents | $(1,521) | $376 | $1,456 |
| Cash and cash equivalents, beginning of period | $8,848 | $8,472 | $7,016 |
| Cash and cash equivalents, end of period | $7,327 | $8,848 | $8,472 |
Source: Salesforce, Inc. Form 10-K and Annual Report For the fiscal year ended January 31, 2026.
Operational cash production grew 14.54% year-over-year to $14,996 million. Cash inflows were anchored by net income of $7,457 million, non-cash depreciation and amortization of $3,631 million, stock compensation of $3,509 million, contract acquisition cost amortization of $2,197 million, and unearned revenue additions of $2,924 million. Working capital cash outflows included $2,811 million in capitalized contract acquisition costs and $2,160 million in trade receivables.
Investing cash outflows jumped to $8,590 million, dominated by $9,268 million expended on business acquisitions, primarily reflecting the net cash cost of Informatica ($8.1 billion net) and Regrello ($815 million). Financing cash usage of $8,079 million was driven by $12,596 million in common share repurchases and $1,587 million in cash dividend distributions, partially offset by $6,000 million drawn from the Informatica credit facilities.
| Free Cash Flow Metric ($ in millions) | FY26 | FY25 | FY24 |
| Net cash provided by operating activities | $14,996 | $13,092 | $10,234 |
| Less: Capital expenditures | $(594) | $(658) | $(736) |
| Free Cash Flow | $14,402 (Calculated by FirmsWorld) | $12,434 (Calculated by FirmsWorld) | $9,498 (Calculated by FirmsWorld) |
Source: Salesforce, Inc. Form 10-K and Annual Report For the fiscal year ended January 31, 2026.
- Free cash flow reached $14,402 million in FY26, expanding 15.83% year-over-year as capital expenditures declined to $594 million (Calculated by FirmsWorld).
- Cash paid for income taxes, net of refunds, was $1,282 million in FY26, compared to $2,061 million in FY25 and $1,027 million in FY24.
- Cash paid for interest on corporate debt totaled $276 million in FY26, compared to $233 million in FY25 and $254 million in FY24.
Board of Directors and Leadership Team
Salesforce is directed by an executive management team and board of directors with background in enterprise cloud architecture, software sales, accounting governance, and corporate legal affairs.
| Executive Officer | Age | Corporate Role |
| Marc Benioff | 61 | Chair of the Board, Chief Executive Officer, and co-Founder |
| Parker Harris | 59 | Director, Chief Technology Officer of Slack, and co-Founder |
| Robin Washington | 63 | Director, President, and Chief Operating and Financial Officer |
| Miguel Milano | 57 | President and Chief Revenue Officer |
| Sabastian Niles | 46 | President, Chief Legal Officer, and Corporate Secretary |
| Srinivas Tallapragada | 56 | President, Chief Engineering Officer, and Customer Success Officer |
| Sundeep Reddy | 53 | Executive Vice President and Chief Accounting Officer |
Source: Salesforce, Inc. Form 10-K and Annual Report For the fiscal year ended January 31, 2026.
The leadership group blends original company founders with seasoned enterprise software executives. Governance oversight of critical technology and infrastructure risks is managed through standing board committees, notably including a dedicated Cybersecurity and Privacy Committee that interfaces directly with executive infrastructure officers.
- Dedicated Cybersecurity and Privacy Committee oversees enterprise risk, receiving regular quarterly technical presentations from the Chief Infrastructure and Trust Officer (CITO) and Chief Information Security Officer (CISO).
- Robin Washington stepped down as Lead Independent Director to assume executive leadership, appointed President and Chief Operating and Financial Officer in March 2025.
- Executive officers maintain extensive operational tenures across tech leaders, including prior executive posts at Oracle, SAP, Gilead Sciences, McKesson, and Celonis.
Profile: Marc Benioff
Marc Benioff is Chair of the Board, Chief Executive Officer, and co-Founder of Salesforce. Having served as CEO since 2001, Benioff led the group from a private cloud startup to the world’s leading CRM software provider. Outside Salesforce, he serves on the World Economic Forum Board of Trustees and chairs the WEF Center for the Fourth Industrial Revolution in San Francisco. He holds a B.S. in Business Administration from the University of Southern California, where he is a member of the Board of Trustees.
Profile: Parker Harris
Parker Harris co-founded Salesforce in February 1999 and has served on the Board of Directors since August 2018. Since January 2024, Harris has served as Chief Technology Officer of Slack. He previously held the role of Salesforce Chief Technology Officer from September 2016 to January 2024, having earlier served as Executive Vice President of Technology from 2004 to 2013. Prior to co-founding Salesforce, he co-founded Left Coast Software. He holds a B.A. in English Literature from Middlebury College.
Profile: Robin Washington
Robin Washington has served as a Director since September 2013, acting as Lead Independent Director from 2022 until 2025, when she was named President and Chief Operating and Financial Officer. Washington previously served as Executive Vice President and CFO of Gilead Sciences, Inc. from 2008 to 2019, and earlier as CFO of Hyperion Solutions. A Certified Public Accountant, she currently sits on the board of directors of Alphabet Inc. She holds a B.B.A. from the University of Michigan and an M.B.A. from Pepperdine University.
Profile: Miguel Milano
Miguel Milano has served as President and Chief Revenue Officer since August 2023. Before rejoining Salesforce, Milano was Co-Owner and CRO at Celonis from 2020 to 2023. He previously spent nine years at Salesforce, including serving as President of International (EMEA, APAC, and Latin America) from 2018 to 2020, following senior sales leadership positions at Oracle, i2 Technologies, Telefónica, and McKinsey & Company. He holds an engineering degree from Polytechnic University of Catalonia and an M.B.A. from MIT Sloan.
Profile: Sabastian Niles
Sabastian Niles joined Salesforce as President and Chief Legal Officer in July 2023, adding the corporate secretary appointment in December 2024. Niles manages corporate governance, legal affairs, risk management, and regulatory compliance globally. Prior to Salesforce, he was a partner at Wachtell, Lipton, Rosen & Katz from 2006 to 2023. He holds undergraduate degrees in Finance, Economics, and Information Systems from the University of Maryland and a J.D. from Harvard Law School.
Profile: Srinivas Tallapragada
Srinivas Tallapragada has served as President and Chief Engineering & Customer Success Officer since February 2025, having previously served as President and Chief Engineering Officer since 2019. Since joining Salesforce in 2012, Tallapragada has directed the technical evolution of the core platform and cloud applications. He previously held engineering leadership roles at Oracle Corporation and SAP Labs. He currently serves on the board of GoDaddy Inc. and holds a B.Tech from NIT Warangal and a master’s degree from XLRI Jamshedpur.
Profile: Sundeep Reddy
Sundeep Reddy has served as Executive Vice President and Chief Accounting Officer since September 2021. Before joining Salesforce, Reddy spent eight years in senior financial leadership at McKesson Corporation, serving as Senior Vice President, Controller, and CAO from 2018 to 2021. He is a Certified Public Accountant and holds a B.B.A. from Georgia State University and an M.B.A. from Emory University.
Subsidiaries, Associates, Joint Ventures
Salesforce has expanded its product capabilities through major corporate acquisitions. Acquired entities are integrated into wholly owned operating subsidiaries and aligned with the Agentforce 360 Platform architecture.
| Acquired Entity / Subsidiary | Date of Acquisition | Total Consideration (inmillions)∣GoodwillRecognized( in millions) | Primary Disclosed Operational Scope |
| Informatica, Inc. | November 2025 (FY26) | $9,636 | $5,257 |
| Own Data Company Ltd. | November 2024 (FY25) | $2,143 | $1,789 |
| Regrello Corp. | October 2025 (FY26) | $818 | $704 |
| Spiff, Inc. | February 2024 (FY25) | $419 | $323 |
| Zoomin Software Ltd. | November 2024 (FY25) | $374 | $284 |
Source: Salesforce, Inc. Form 10-K and Annual Report For the fiscal year ended January 31, 2026.
The acquisition of Informatica represents the largest transaction in recent fiscal periods, valued at $9,636 million in total consideration ($9,538 million in cash, $62 million fair value of pre-existing relationships, and $36 million in assumed equity plans). Pro forma combined financial statements disclose that had Informatica been acquired at the beginning of fiscal 2025, combined corporate revenues would have reached $42,853 million in FY26 and $39,535 million in FY25.
- Informatica contributed $399 million in total revenue and $24 million in pretax income from its November 2025 acquisition date through January 31, 2026.
- Goodwill across corporate business combinations reached $57,941 million, none of which is tax deductible for U.S. federal income tax purposes.
- Pre-existing equity interests were remeasured upon acquisition, generating a $40 million non-operating investment gain on Own Data Company in FY25.
Profile: Informatica, Inc.
Acquired in the fourth quarter of fiscal 2026, Informatica operates as an enterprise-grade, AI-powered cloud data management platform. The business allows organizations to discover, catalog, integrate, and govern critical data assets across hybrid and multi-cloud environments. Its technology extends Salesforce’s native integration by linking disparate legacy architectures to Data 360, establishing automated data governance and lineage tracking required for enterprise AI agents.
Profile: Own Data Company Ltd.
Acquired in November 2024 for $2,143 million, Own provides cloud data protection, backup, recovery, and data security posture management. The acquisition fortified Salesforce’s data management capabilities, providing enterprise customers with automated backup retention, compliance archiving, and disaster recovery solutions across mission-critical SaaS deployments.
Profile: Regrello Corp.
Acquired in October 2025 for $818 million, Regrello developed an AI-native business process automation engine. Its technology and engineering workforce were integrated directly into the Agentforce 360 Platform to enable autonomous AI agents to construct, execute, and monitor collaborative business workflows that span multiple internal systems.
Other Investments (Including Minority / Portfolio Holdings)
Salesforce manages a corporate strategic investment portfolio spanning more than 450 companies, targeting early- to late-stage enterprise cloud startups, generative AI developers, and systems integrators. Strategic investments totaled $7,591 million in carrying value on the consolidated balance sheet as of January 31, 2026.
| Investment Type / Category | Capital Invested ($ in millions) | Cumulative Unrealized Gains (inmillions)∣CumulativeUnrealizedLosses( in millions) | Carrying Value as of January 31, 2026 (inmillions)∣CarryingValueasofJanuary31,2025( in millions) |
| Privately held equity securities | $6,151 | $2,481 | $(1,090) |
| Publicly held equity securities | $3 | $3 | $(1) |
| Other non-equity investments | Not Disclosed | Not Disclosed | Not Disclosed |
| Total strategic investment portfolio | $6,154 | $2,484 | $(1,091) |
Source: Salesforce, Inc. Form 10-K and Annual Report For the fiscal year ended January 31, 2026.
The portfolio is heavily weighted toward illiquid, privately held equity assets accounted for under the measurement alternative. Under this standard, carrying values are adjusted upward or downward only upon observable transaction price changes in same or similar securities, or upon impairment. In FY26, the company recorded $1,470 million in net unrealized gains on private equities, counterbalanced by $496 million in impairments.
- Two privately held investments represent 35% of the total portfolio, each individually exceeding 5% of total strategic investments, representing an aggregate carrying value of approximately $2,656.85 million (Calculated by FirmsWorld).
- The top five privately held equity securities represent $3.5 billion in total carrying value, where a hypothetical 10% decrease in company enterprise values would reduce carrying value by $292 million.
- One privately held investment generated $1.2 billion in unrealized upward mark-to-market gains in FY26, driving the majority of portfolio investment performance.
- Variable Interest Entities (VIEs) within the portfolio had a carrying value of $160 million as of January 31, 2026, down from $484 million in FY25, where Salesforce is not the primary beneficiary.
Physical Properties
Salesforce operates an international real estate network comprising commercial corporate offices, engineering centers, and data center hosting co-locations.
| Real Estate Facility / Geographic Category | Square Footage / Status | Operational Scope / Lease Term |
| San Francisco Executive Offices | 1.0 million sq. ft. | Principal executive offices, sales, engineering, marketing, and administration |
| San Francisco Subleased / Available Space | 2.2 million sq. ft. | Owned and leased property currently leased to third parties or available for lease |
| International Leased Offices | Disclosed worldwide network | Commercial field offices across Europe, Asia, North/South America, Africa, Australia |
| Co-Location Data Center Operations | Disclosed specialized facilities | Redundant infrastructure operating across the United States, Europe, and Asia |
Source: Salesforce, Inc. Form 10-K and Annual Report For the fiscal year ended January 31, 2026.
The company reduced its real estate commitments as part of structural efficiency initiatives initiated in fiscal 2024 and 2025. In the San Francisco Bay Area, the company utilizes 1.0 million square feet while holding 2.2 million square feet that is either subleased to third parties or held available for lease. Contractual sublease agreements are structured to generate $258 million in sublease rental income over the next five fiscal years and $35 million thereafter.
- Total future noncancellable lease commitments stand at $3.6 billion, comprising $0.9 billion due within 12 months and $2.7 billion due in later periods.
- Long-term commitments with third-party infrastructure service providers total $16.7 billion, of which $3.7 billion matures within 12 months and $13.0 billion matures thereafter.
- Combined office and data center lease commitments total $3.8 billion out of $4.4 billion in aggregate gross lease obligations, with the remainder covering equipment.
Founders
Salesforce was founded in February 1999 by a group of software entrepreneurs led by Marc Benioff and Parker Harris. The founders established the company on the thesis that enterprise applications could be delivered as an on-demand utility over the Internet, replacing client-server disk installations.
- Marc Benioff: Co-founded the company in 1999 and has served as Chief Executive Officer since 2001 and Chair of the Board, leading the enterprise through its initial public offering, major platform acquisitions, and agentic AI transformations.
- Parker Harris: Co-founded Salesforce in 1999, architecting the original multi-tenant cloud software framework, and currently serves as a member of the Board of Directors and Chief Technology Officer of Slack.
Investments and Capital Expenditure Plans
Salesforce allocates capital across three primary areas: software research and development, physical infrastructure maintenance, and long-term public cloud commitments.
| Capital Allocation Category | FY26 Expenditure ($ in millions) | FY25 Expenditure (inmillions)∣FY24Expenditure( in millions) | Primary Strategic Purpose |
| Research and Development | $5,993 | $5,493 | $4,906 |
| Capital Expenditures (Property & Equip.) | $594 | $658 | $736 |
| Cash Outflows for Acquisitions | $9,268 | $2,734 | $82 |
| Third-Party Infrastructure Commitments | $16,700 (Total Commitments) | Not Disclosed | Not Disclosed |
Source: Salesforce, Inc. Form 10-K and Annual Report For the fiscal year ended January 31, 2026.
Over the past two fiscal years, Salesforce invested more than $10 billion in research and development to engineer Agentforce and Data 360. While internal capital expenditures for physical assets dropped to $594 million, the company expanded its multi-year operational commitments with third-party infrastructure and cloud platform providers to $16.7 billion. This shift reflects management’s strategy of utilizing public cloud infrastructure via Hyperforce rather than building capital-intensive proprietary server warehouses.
Shareholding Pattern
Salesforce equity is traded on the New York Stock Exchange, with share ownership distributed among institutional holders, retail investors, and corporate insiders.
| Share Capital Attribute | Disclosed Value / Quantity |
| Common Stock Par Value | $0.001 per share |
| Authorized Common Shares | 1,600 million shares |
| Issued Common Shares | 1,073 million shares (as of January 31, 2026) |
| Outstanding Common Shares | 929 million shares (as of January 31, 2026) |
| Treasury Shares Held at Cost | 144 million shares ($32,228 million) |
| Outstanding Shares (as of February 25, 2026) | Approximately 923 million shares |
| Market Value of Shares Held by Non-Affiliates | Approximately $191.8 billion (as of July 31, 2025) |
| Registered Stockholders of Record | 366 stockholders (as of January 31, 2026) |
| Authorized Preferred Stock | 5,000,000 shares ($0.001 par value; none issued) |
Source: Salesforce, Inc. Form 10-K and Annual Report For the fiscal year ended January 31, 2026.
The company actively returns capital to stockholders through share repurchase programs and cash dividends. In FY26, the company repurchased 50 million shares for $12.7 billion ($12,677 million) at an average price of $254.21 per share. In February 2026, the Board of Directors authorized a new $50.0 billion share repurchase program that replaced the previous authorization, followed in March 2026 by the commencement of a $25 billion accelerated share repurchase program.
| Dividend Declaration Period | Record Date | Payment Date | Cash Dividend Per Share | Total Cash Paid ($ in millions) |
| Q1 FY26 (Ended April 30, 2025) | April 10, 2025 | April 24, 2025 | $0.416 | $406 |
| Q2 FY26 (Ended July 31, 2025) | June 18, 2025 | July 10, 2025 | $0.416 | $404 |
| Q3 FY26 (Ended October 31, 2025) | September 17, 2025 | October 9, 2025 | $0.416 | $400 |
| Q4 FY26 (Ended January 31, 2026) | December 18, 2025 | January 8, 2026 | $0.416 | $395 |
| Q1 FY27 (Declared February 2026) | April 9, 2026 | April 23, 2026 | $0.440 | (Company guidance) |
Source: Salesforce, Inc. Form 10-K and Annual Report For the fiscal year ended January 31, 2026.
Future Strategy
Management has focused corporate expansion on establishing the Agentforce 360 Platform as the foundation for the “Agentic Enterprise”. Operating within an enterprise AI addressable market estimated by management to exceed $1 trillion, Salesforce plans to convert existing CRM seat licenses into autonomous digital agent deployments.
┌───────────────────────────────┐
│ Agentforce 360 Platform │
└───────────────┬───────────────┘
│
┌─────────────────────────┼─────────────────────────┐
▼ ▼ ▼
┌─────────────────────┐ ┌─────────────────────┐ ┌─────────────────────┐
│ Agentforce Agents │ │ Data 360 │ │ Slack Workspace │
│ Autonomous Digital │ │ Hyperscale Zero- │ │ Conversational Work │
│ Labor in Workflows │ │ Copy Data Fabric │ │ Interface for Teams │
└──────────┬──────────┘ └──────────┬──────────┘ └──────────┬──────────┘
│ │ │
└─────────────────────────┼─────────────────────────┘
│
▼
┌───────────────────────────────┐
│ Enterprise Execution │
│ MuleSoft APIs & Guardrails │
└───────────────────────────────┘
The future operating model relies on the interaction between autonomous agents, data management, and messaging platforms. Management has identified core operating priorities to achieve its multi-year revenue goals:
- Deepening relationship penetration across existing enterprise accounts, driving multi-cloud adoption through integrated front-office suites to lower client churn.
- Targeting full-year FY27 revenue of more than $46 billion, representing approximately 11% top-line expansion (Company guidance).
- Guiding to a 34.3% non-GAAP operating margin in FY27, based on a projected 20.9% GAAP operating margin, 4.1% intangible amortization, 9.0% stock-based compensation, and 0.3% restructuring costs (Company guidance).
- Raising the fiscal 2030 corporate revenue target to $63 billion, incorporating long-term growth synergies from the Informatica acquisition (Management target).
- Transitioning pricing toward consumption-based models, monetizing autonomous agent interactions and data pipeline volume through Data 360 and Agentforce.
Key Strengths
- Hyperscale recurring subscription model: Generates $39,388 million in recurring subscription revenue, backed by a total contracted revenue backlog (Remaining Performance Obligation) of $72.4 billion.
- Fast-growing enterprise AI commercial adoption: Successfully closed 29,000 Agentforce transactions within 15 months, scaling combined Agentforce and Data 360 ARR to $2.9 billion.
- Unified enterprise metadata architecture: Integrates unstructured and structured business records via Data 360, which ingested 112 trillion records in FY26 to provide context for AI reasoning models.
- Cash flow generation and liquidity: Operating cash flow of $14,996 million and free cash flow of $14,402 million support aggressive share buybacks, cash dividends, and strategic acquisitions (Calculated by FirmsWorld).
- Diversified global customer base: Enterprise relationships span small businesses up to large multi-nationals, with no single customer accounting for 10% or more of annual revenues.
- Corporate culture and values: Long-standing commitment to the “1-1-1 Philanthropic Leadership” model, contributing 10.5 million volunteer hours and nearly $1 billion in community grants since inception.
Key Challenges and Risks
Operational, Cyber, and Infrastructure Risks
Salesforce relies on third-party public cloud providers and global co-location data centers. Any physical outage, fiber disruption, or power failure could interrupt customer operations, exposing the business to contractual service credits, legal liabilities, and customer churn.
Furthermore, as a high-profile enterprise repository of sensitive financial, corporate, and healthcare data, Salesforce is a frequent target of cyberattacks, ransomware threats, and supply chain vulnerabilities. The rollout of advanced generative AI and autonomous agent frameworks creates novel data security, prompt injection, and algorithmic exposure challenges.
Technology and AI Adoption Uncertainties
The transition to consumption-based software pricing introduces revenue forecasting volatility. Unlike fixed-price multi-year seat licenses, usage fees for Data 360 and Agentforce fluctuate based on client engagement levels.
In addition, autonomous AI agents can generate inaccurate, biased, or defamatory content. If AI agents make erroneous commitments or mishandle proprietary data, Salesforce could face regulatory scrutiny, customer contract disputes, and brand damage.
Legal Proceedings and Contingent Liabilities
Salesforce remains involved in complex litigation that could negatively impact quarterly cash flows or operational practices:
- Slack Shareholder Litigation: Purported class actions remain pending in California state court alleging misstatements in connection with Slack’s 2019 direct listing registration statement, following the dismissal with prejudice of the companion federal action in November 2025.
- Backpage Sex Trafficking Litigation: Federal and state lawsuits (principally G.G. v. Salesforce, Inc. in Illinois and A.B. v. Salesforce, Inc. in Texas) allege Salesforce software facilitated the operational scaling of former client Website Technologies (an affiliate of Backpage.com). Trial in the G.G. matter is anticipated in the fall of 2026, while the A.B. action is currently stayed pending criminal proceedings against Backpage.
Regulatory, Tax, and Global Trade Headwinds
The company operates across multiple international regulatory environments, subjecting its data flows to the European Union AI Act, the EU Digital Services Act, GDPR, and India’s Digital Personal Data Protection Act. Regulatory mandates requiring domestic data residency restrict cross-border data transfers and increase localized hosting costs.
On the tax front, the enactment of the One Big Beautiful Bill Act (OBBBA) in July 2025 altered domestic corporate tax provisions, while international adoption of the OECD’s Pillar Two 15% corporate minimum tax introduces compliance complexity across foreign subsidiaries.
Conclusion and Strategic Outlook
Salesforce concluded fiscal 2026 with $41.5 billion in annual revenue, $15.0 billion in operating cash flow, and a contracted revenue backlog exceeding $72 billion. Through internal research investments and the strategic integration of Informatica, the enterprise has re-engineered its traditional CRM software suite into an integrated platform for autonomous AI execution.
As the business advances toward its FY27 target of more than $46 billion and its long-range FY30 milestone of $63 billion, execution will depend on scaling consumption adoption for Agentforce while navigating competitive, regulatory, and infrastructural challenges in an evolving enterprise software landscape.
Official Site: https://www.salesforce.com
