Income Statement
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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- Cash Flow Statement
- Analysis of Liquidity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Price to FCFE (P/FCFE)
- Net Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
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Salesforce Inc., consolidated income statement
US$ in millions
Based on: 10-K (reporting date: 2025-01-31), 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31).
- Revenue Trends
- Overall revenues demonstrated a consistent upward trajectory from 2020 to 2025, increasing from $17,098 million in 2020 to $37,895 million in 2025. Subscription and support revenues, representing the majority of total revenues, grew steadily from $16,043 million to $35,679 million over the same period. Professional services and other revenues also increased initially, peaking in 2023 at $2,331 million before slightly declining by 2025.
- Cost of Revenues and Gross Profit
- Cost of revenues increased consistently alongside total revenues, rising from $4,235 million in 2020 to $8,643 million in 2025. Consequently, gross profit expanded significantly from $12,863 million in 2020 to $29,252 million in 2025, reflecting strong scalability and maintained profitability despite growing costs.
- Operating Expenses
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- Research and Development
- R&D expenses rose steadily from $2,766 million in 2020 to $5,493 million in 2025, indicating increased investment in innovation and product development.
- Sales and Marketing
- Sales and marketing expenses grew from $7,930 million in 2020 to a peak of $13,526 million in 2023, before experiencing a slight decrease and stabilization around $13,257 million in 2025.
- General and Administrative
- General and administrative costs also showed growth, increasing from $1,704 million in 2020 to $2,836 million in 2025, although with some fluctuations in the interim years.
- Restructuring Costs
- Restructuring expenses appeared only in 2022 through 2025 with amounts declining from $828 million to $461 million, suggesting efforts toward organizational efficiency.
- Other Operating Expenses
- Operating expenses in aggregate increased from $12,566 million in 2020 to a peak around 2023, at $21,962 million, and then slightly declined to $22,047 million by 2025, mirroring investments in operational functions with slight cost control or realignment post-2023.
- Income from Operations
- Income from operations gradually improved, starting from a modest $297 million in 2020 and rising steadily to $7,205 million in 2025. This improvement reflects enhanced operational efficiencies and successful leveraging of revenue growth against operating costs.
- Other Income and Expenses
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- Interest Expense
- Interest expense remained relatively stable, fluctuating slightly but decreasing from $130 million in 2020 to $272 million in 2025, indicating consistent financing costs.
- Gains/Losses on Strategic Investments
- Gains on strategic investments were volatile, peaking at $2,170 million in 2021 but turning into consistent losses from 2023 onwards, reaching losses of $121 million in 2025, implying challenges or divestitures in that area.
- Other Income (Expense)
- Other income showed variability but generally increased from $112 million in 2020 to $626 million in 2025, suggesting growing ancillary income or gains outside primary operations.
- Income Before Taxes and Net Income
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- Income Before Taxes
- Income before taxes experienced fluctuations with a strong peak in 2021 of $2,561 million, a decline to $660 million in 2023, then a robust recovery to $7,438 million in 2025.
- Income Tax Provision
- Provision for income taxes demonstrated variability, including benefits in 2021 ($1,511 million) and increasing tax expenses by 2025 ($1,241 million), reflecting changes in tax strategy or taxable income levels.
- Net Income
- Net income exhibited significant volatility, rising substantially in 2021 to $4,072 million, dropping to $208 million in 2023, then rebounding sharply to $6,197 million in 2025, paralleling shifts in operating income, investment results, and tax impacts.
- Summary of Trends
- The data reveals strong revenue growth driven primarily by subscription and support services. While costs increased commensurately, operational profitability improved notably over the five-year span. Investment in research and development and sales and marketing remained a priority, sustaining competitive positioning. Fluctuations in net income corresponded with varying gains or losses on strategic investments and tax provisions. Overall, operational improvements and revenue expansion contributed to significantly enhanced profitability by 2025 despite some volatility in ancillary income streams.