Cash Flow Statement
Quarterly Data

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Salesforce Inc., consolidated cash flow statement (quarterly data)

US$ in millions

3 months ended:	Apr 30, 2025	Jan 31, 2025	Oct 31, 2024	Jul 31, 2024	Apr 30, 2024	Jan 31, 2024	Oct 31, 2023	Jul 31, 2023	Apr 30, 2023	Jan 31, 2023	Oct 31, 2022	Jul 31, 2022	Apr 30, 2022	Jan 31, 2022	Oct 31, 2021	Jul 31, 2021	Apr 30, 2021	Jan 31, 2021	Oct 31, 2020	Jul 31, 2020	Apr 30, 2020	Jan 31, 2020	Oct 31, 2019	Jul 31, 2019	Apr 30, 2019
Net income (loss)	1,541)	1,708)	1,527)	1,429)	1,533)	1,446)	1,224)	1,267)	199)	(98)	210)	68)	28)	(28)	468)	535)	469)	267)	1,081)	2,625)	99)	(248)	(109)	91)	392)
Depreciation and amortization	843)	877)	814)	907)	879)	953)	862)	890)	1,254)	1,032)	941)	907)	906)	931)	963)	719)	685)	869)	670)	649)	658)	633)	608)	457)	437)
Amortization of costs capitalized to obtain revenue contracts, net	545)	527)	525)	526)	517)	497)	482)	476)	470)	443)	423)	408)	394)	356)	344)	334)	314)	290)	271)	250)	247)	229)	221)	217)	209)
Stock-based compensation expense	814)	803)	820)	810)	750)	674)	693)	724)	696)	809)	843)	851)	776)	763)	812)	640)	564)	542)	566)	578)	504)	511)	543)	388)	343)
Loss on settlement of Salesforce.org reseller agreement	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	166)	—)
(Gains) losses on strategic investments, net	63)	(96)	217)	37)	(37)	35)	72)	29)	141)	314)	(23)	(45)	(7)	(34)	(363)	(526)	(288)	(260)	(1,036)	(682)	(192)	(31)	(6)	(109)	(281)
Tax benefit from intra-entity transfer of intangible property	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(2,003)	—)	—)	—)	—)	—)
Accounts receivable, net	7,591)	(7,171)	655)	(1,136)	7,162)	(6,564)	550)	(768)	6,123)	(6,481)	471)	(790)	5,805)	(5,719)	91)	(812)	4,616)	(4,429)	128)	(349)	3,094)	(3,599)	(29)	(146)	2,774)
Costs capitalized to obtain revenue contracts, net	(365)	(1,016)	(430)	(427)	(248)	(966)	(300)	(331)	(275)	(1,066)	(375)	(505)	(399)	(1,060)	(405)	(463)	(355)	(672)	(493)	(455)	(25)	(587)	(246)	(173)	(124)
Prepaid expenses and other current assets and other assets	(481)	(232)	(272)	(477)	(514)	(93)	(407)	(52)	(291)	57)	(63)	113)	(409)	115)	189)	(173)	(17)	1)	80)	(203)	(11)	133)	(183)	28)	(97)
Accounts payable and accrued expenses and other liabilities	(1,007)	1,592)	32)	220)	(755)	1,129)	172)	(376)	(1,403)	1,733)	(309)	326)	(1,222)	1,343)	(548)	805)	(1,093)	1,096)	68)	693)	(757)	969)	265)	293)	(545)
Operating lease liabilities	(124)	(161)	(144)	(158)	(85)	(147)	(139)	(167)	(168)	(138)	(173)	(186)	(202)	(194)	(191)	(200)	(216)	(214)	(204)	(209)	(203)	(182)	(200)	(182)	(164)
Unearned revenue	(2,944)	7,139)	(1,761)	(839)	(2,955)	6,439)	(1,677)	(884)	(2,255)	6,183)	(1,632)	(813)	(1,994)	5,509)	(956)	(473)	(1,451)	4,684)	(792)	(465)	(1,555)	3,804)	(566)	(594)	(979)
Changes in assets and liabilities, net of business combinations	2,670)	151)	(1,920)	(2,817)	2,605)	(202)	(1,801)	(2,578)	1,731)	288)	(2,081)	(1,855)	1,579)	(6)	(1,820)	(1,316)	1,484)	466)	(1,213)	(988)	543)	538)	(959)	(774)	865)
Adjustments to reconcile net income (loss) to net cash provided by operating activities	4,935)	2,262)	456)	(537)	4,714)	1,957)	308)	(459)	4,292)	2,886)	103)	266)	3,648)	2,010)	(64)	(149)	2,759)	1,907)	(742)	(2,196)	1,760)	1,880)	407)	345)	1,573)
Net cash provided by operating activities	6,476)	3,970)	1,983)	892)	6,247)	3,403)	1,532)	808)	4,491)	2,788)	313)	334)	3,676)	1,982)	404)	386)	3,228)	2,174)	339)	429)	1,859)	1,632)	298)	436)	1,965)
Business combinations, net of cash acquired	—)	(2,217)	(179)	—)	(338)	—)	(82)	—)	—)	—)	—)	(25)	(414)	(60)	(35)	(14,356)	(425)	—)	(24)	(1,154)	(103)	(30)	94)	(423)	(10)
Purchases of strategic investments	(149)	(165)	(67)	(104)	(203)	(106)	(103)	(182)	(105)	(75)	(44)	(208)	(223)	(785)	(147)	(509)	(277)	(127)	(368)	(232)	(342)	(201)	(346)	(62)	(159)
Sales of strategic investments	6)	8)	13)	52)	53)	6)	80)	13)	9)	174)	98)	38)	45)	37)	695)	913)	556)	366)	33)	51)	601)	31)	138)	71)	194)
Purchases of marketable securities	(2,086)	(1,838)	(1,239)	(550)	(3,252)	(934)	(661)	(1,798)	(368)	(645)	(408)	(1,152)	(2,572)	(1,165)	(2,193)	(507)	(1,809)	(865)	(1,453)	(1,681)	(834)	(1,913)	(438)	(772)	(734)
Sales of marketable securities	405)	491)	554)	2,482)	616)	394)	315)	533)	269)	379)	500)	451)	441)	414)	720)	2,464)	581)	630)	662)	207)	337)	556)	427)	375)	86)
Maturities of marketable securities	436)	939)	905)	898)	636)	319)	563)	462)	785)	697)	585)	722)	445)	267)	150)	1,154)	498)	239)	239)	330)	227)	228)	358)	137)	56)
Capital expenditures	(179)	(154)	(204)	(137)	(163)	(147)	(166)	(180)	(243)	(218)	(198)	(203)	(179)	(167)	(166)	(213)	(171)	(149)	(124)	(114)	(323)	(136)	(170)	(178)	(159)
Net cash (used in) provided by investing activities	(1,567)	(2,936)	(217)	2,641)	(2,651)	(468)	(54)	(1,152)	347)	312)	533)	(377)	(2,457)	(1,459)	(976)	(11,054)	(1,047)	94)	(1,035)	(2,593)	(437)	(1,465)	63)	(852)	(726)
Proceeds from issuance of debt, net of issuance costs	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(6)	7,922)	(10)	(20)	—)	—)	—)	—)	—)	—)	—)
Repayments of Slack Convertible Notes, net of capped call proceeds	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(17)	(1,348)	168)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Repurchases of common stock	(2,633)	(76)	(1,285)	(4,335)	(2,133)	(1,692)	(1,925)	(1,949)	(2,054)	(2,323)	(1,677)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Proceeds from employee stock plans	294)	484)	321)	202)	533)	869)	274)	362)	449)	173)	233)	181)	274)	259)	430)	375)	225)	216)	381)	466)	258)	290)	179)	152)	219)
Principal payments on financing obligations	(179)	(98)	(100)	(285)	(120)	(123)	(114)	(282)	(110)	(70)	(233)	(44)	(72)	(38)	(45)	(24)	(49)	(19)	(12)	(24)	(48)	(14)	(14)	(134)	(11)
Repayments of debt	—)	—)	—)	(1,000)	—)	—)	—)	(181)	(1,001)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(151)	(150)	(201)	(1)
Payments of dividends and dividend equivalents	(402)	(383)	(382)	(384)	(388)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Net cash provided by (used in) financing activities	(2,920)	(73)	(1,446)	(5,802)	(2,108)	(946)	(1,765)	(2,050)	(2,716)	(2,221)	(1,678)	136)	201)	203)	(970)	8,440)	165)	176)	368)	441)	209)	125)	15)	(183)	207)
Effect of exchange rate changes	91)	(110)	(5)	(7)	(2)	30)	(32)	11)	17)	61)	(23)	(21)	(25)	(15)	(4)	(17)	3)	27)	—)	3)	(4)	(15)	(18)	(1)	(5)
Net increase (decrease) in cash and cash equivalents	2,080)	851)	315)	(2,276)	1,486)	2,019)	(319)	(2,383)	2,139)	940)	(855)	72)	1,395)	711)	(1,546)	(2,245)	2,349)	2,471)	(328)	(1,720)	1,627)	277)	358)	(600)	1,441)

The quarterly financial data reveals multiple important trends and fluctuations in the company's financial performance and position over the analyzed periods.

Net Income (Loss): Net income exhibits significant volatility, with periods of both positive and negative results. Early quarters show losses, notably in late 2019 and early 2020, followed by a strong recovery mid-2020 with an exceptional spike at 2,625 million USD. After fluctuating in the subsequent periods, the net income from mid-2023 to early 2025 indicates a generally robust recovery, maintaining positive values mostly above 1,000 million USD, suggestive of improved profitability and operational performance.
Depreciation and Amortization: A steady increase in depreciation and amortization expenses is observed from around 437 million USD in early 2019 to higher levels exceeding 900 million USD through 2022 and beyond, peaking above 1,200 million USD in early 2023. This reflects growing capital asset investments or acquisition amortization potentially related to business expansions.
Amortization of Costs Capitalized to Obtain Revenue Contracts: This amortization shows a consistent and gradual upward trend, increasing from about 209 million USD in early 2019 to approximately 545 million USD by early 2025, indicating rising investments in customer contracts which are being amortized over time.
Stock-Based Compensation Expense: Stock-based compensation expenses demonstrate a generally increasing trend, starting at 343 million USD and reaching above 800 million USD in several quarters from 2021 onward. This steady rise suggests consistent or increasing employee compensation via equity incentives.
Gains/Losses on Strategic Investments, Net: Gains and losses on strategic investments fluctuate widely, showing large negative amounts initially (e.g., -1,036 million USD in late 2020) transitioning to smaller gains and losses in more recent periods. Although some large positive spikes occur, there is no consistent trend, indicating variable returns from investments.
Accounts Receivable, Net: The net accounts receivable figures show considerable volatility, with large positive and negative swings from quarter to quarter. For example, large negative values such as -7,171 million USD contrast with positive swings exceeding 7,500 million USD. Such variability suggests significant changes in credit terms, sales volume, or collection patterns.
Costs Capitalized to Obtain Revenue Contracts, Net: This item fluctuates but generally remains negative, indicating ongoing capital expenditures on customer acquisition costs which impact working capital differently at various points, with extreme negative values reaching near -1,000 million USD, showing aggressive capitalization in certain periods.
Accounts Payable and Accrued Expenses and Other Liabilities: Large fluctuations are evident, with negative values reaching over -1,400 million USD and large positive amounts greater than 1,700 million USD in different quarters, reflecting changing operational payables and timing of expenditures or settlements.
Unearned Revenue: Unearned revenue varies dramatically, sometimes showing steep increases above 6,000 million USD and sharp declines near -3,000 million USD, which may reflect changes in deferred contract revenues or billing cycles tied to subscription or service contracts.
Net Cash Provided by Operating Activities: Operating cash flow exhibits strong seasonality and remarkable swings, peaking at 6,247 million USD in early 2024 and showing some quarters with comparatively low inflows around 300-400 million USD. The general trend indicates strong cash generation capacity despite interim declines.
Net Cash Used in Investing Activities: Investing activities mostly show net cash outflows, often substantial, particularly in the quarter ending July 2021 with a notable outflow exceeding -11,054 million USD. While some quarters report positive inflows, the overall pattern underlines sustained capital and investment spending.
Net Cash Provided by (Used in) Financing Activities: Financing cash flows demonstrate notable variability, including a significant inflow near 8,440 million USD, likely related to debt issuance, and large outflows attributable to stock repurchases and dividend payments in more recent periods, indicating active capital structure management and shareholder return activities.
Repurchases of Common Stock: Stock repurchases accelerate markedly from early 2022 onward, with quarterly amounts frequently exceeding 1,600 million USD and peaking at over 4,300 million USD, signaling a focus on returning capital to shareholders or managing share count.
Effect of Exchange Rate Changes: Exchange rate effects on cash and equivalents generally remain minor relative to other line items, with occasional small positive or negative impacts, suggesting limited foreign currency translation impacts on cash balances.
Net Increase (Decrease) in Cash and Cash Equivalents: The cash position experiences large fluctuations exhibiting quarters with significant increases above 2,000 million USD and decreases approaching -2,383 million USD. This volatility aligns with the variable cash flows from operating, investing, and financing activities.

In summary, the data indicates a company experiencing growth and volatility in earnings and investments, with increasing amortization and stock compensation expenses, substantial but varying investment outlays, considerable fluctuations in working capital components, and active capital management including frequent stock repurchases and occasional debt financing. The cash flow patterns reflect operational strength tempered by heavy investing outflows and strategic financing decisions.

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Salesforce Inc. (NYSE:CRM)

Cash Flow Statement Quarterly Data

Cash Flow Statement
Quarterly Data