Common-Size Income Statement
Quarterly Data
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Salesforce Inc., common-size consolidated income statement (quarterly data)
Based on: 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), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30).
- Revenue Composition
- The proportion of subscription and support revenues consistently dominates, representing over 92% of total revenues throughout the periods analyzed. There is minor fluctuation but a slight increasing trend toward the latter quarters, reaching approximately 94.6%. Conversely, professional services and other revenues make up a smaller portion, generally between 5.3% and 7.7%, showing a tendency to decrease in later periods.
- Cost Structure
- Cost of revenues as a percentage of total revenues shows a fluctuating but overall declining trend from approximately 25% to below 22%, indicating potential improvements in cost efficiency or changes in revenue mix.
- Gross profit margins reflect this pattern, moving from around 75% in early quarters to over 78% in the most recent periods, suggesting increasing profitability at the gross level.
- Operating Expenses
- Research and development expenses have generally trended downward as a percentage of revenues, decreasing from about 18% to approximately 14.5%, indicating a gradual reduction in R&D intensity relative to revenue.
- Sales and marketing expenses showed volatility but an overall decreasing trend from nearly 49% to below 34%, denoting a significant reduction in sales and marketing spending relative to revenue in recent quarters.
- General and administrative expenses also declined steadily from about 10.5% to just under 7.5%, reflecting improved operational efficiency or cost containment in administrative functions.
- Restructuring expenses appear sporadically starting in early 2023, with varying impact up to about -3% of revenues in some quarters, indicating occasional charges that could affect profitability.
- Operating Performance
- Income from operations shows a notable improvement over time. Early periods reflect low or negative operating income margins, while recent quarters demonstrate robust positive margins above 18%, indicating enhanced operational profitability.
- Other Income and Expenses
- Gains and losses on strategic investments have been highly volatile, with some periods showing gains up to 19% of revenues, but recent periods feature smaller gains or slight losses, suggesting variability in non-core investment outcomes.
- Other income/(expense) is generally minor but turns positive in recent periods, contributing marginally to overall income.
- Income Taxes
- The tax provision as a percentage of revenues fluctuates substantially, with occasional negative provisioning in certain quarters. Recent quarters see tax impacts ranging between approximately -5% to -2%, reflecting changes in tax strategy or tax expense recognition.
- Net Income
- Net income margins show significant volatility early on, including negative values around 2019-2020. However, there is a clear recovery and upward trend from mid-2020 onwards, with net income as a percentage of revenues rising steadily to reach near 18% in the latest quarter, signaling improved overall profitability.