Common-Size Balance Sheet: Assets
Quarterly Data
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Dividend Discount Model (DDM)
- Net Profit Margin since 2005
- Operating Profit Margin since 2005
- Debt to Equity since 2005
- Analysis of Debt
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Salesforce Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2026-04-30), 10-K (reporting date: 2026-01-31), 10-Q (reporting date: 2025-10-31), 10-Q (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-K (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30).
The asset structure is characterized by a heavy concentration in noncurrent assets, which consistently represent between 67% and 82% of the total asset base. The balance sheet is dominated by intangible assets, specifically goodwill, indicating a corporate strategy heavily reliant on inorganic growth through acquisitions.
- Liquidity and Working Capital Trends
- Cash and cash equivalents exhibit volatility, generally fluctuating between 5% and 13% of total assets. Marketable securities show a distinct long-term downward trend, declining from a peak of 9.99% in April 2021 to 2.72% by April 2026. Accounts receivable demonstrate a recurring seasonal pattern, with significant spikes every January—reaching as high as 12.77% in January 2026—followed by sharp declines in the subsequent quarter, suggesting cyclical billing or contract renewal patterns.
- Intangible Assets and Acquisition Impact
- Goodwill represents the most significant portion of the asset base, increasing from 47.12% in April 2020 to 55.58% by April 2026. While goodwill has grown, intangible assets acquired through business combinations have generally trended downward, moving from 8.37% in 2020 to 6.23% in 2026. This suggests that recent acquisitions have been characterized by higher premiums relative to identifiable intangible assets.
- Physical and Operational Asset Trends
- There is a consistent decline in the relative weight of physical infrastructure. Property and equipment, net, decreased from 4.70% to 2.95% over the analyzed period. Similarly, operating lease right-of-use assets fell from 5.56% to 1.77%. This contraction suggests an asset-light operational model or a total asset base expansion that far outpaces investments in physical assets.
- Strategic and Other Noncurrent Assets
- Strategic investments remained relatively stable for several years but showed an upward trajectory toward the end of the period, rising to 7.29% by April 2026. Deferred tax assets and other assets remained low but showed a gradual increase from approximately 1% in early 2020 to fluctuate between 3% and 5% in later years.
In summary, the balance sheet reveals a transition toward an even higher proportion of noncurrent assets, driven by an increasing concentration of goodwill. The liquidity profile is marked by seasonal swings in receivables and a strategic reduction in the proportion of marketable securities.