Price to Book Value (P/BV)
since 2005
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- Income Statement
- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Selected Financial Data since 2005
- Total Asset Turnover since 2005
- Price to Sales (P/S) since 2005
- Analysis of Debt
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Calculation
Salesforce Inc., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Stockholders’ equity1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar 5, 2025 | = | ÷ | = | ÷ | |||||||
| Mar 6, 2024 | = | ÷ | = | ÷ | |||||||
| Mar 8, 2023 | = | ÷ | = | ÷ | |||||||
| Mar 11, 2022 | = | ÷ | = | ÷ | |||||||
| Mar 17, 2021 | = | ÷ | = | ÷ | |||||||
| Mar 5, 2020 | = | ÷ | = | ÷ | |||||||
| Mar 8, 2019 | = | ÷ | = | ÷ | |||||||
| Mar 9, 2018 | = | ÷ | = | ÷ | |||||||
| Mar 6, 2017 | = | ÷ | = | ÷ | |||||||
| Mar 7, 2016 | = | ÷ | = | ÷ | |||||||
| Mar 6, 2015 | = | ÷ | = | ÷ | |||||||
| Mar 5, 2014 | = | ÷ | = | ÷ | |||||||
| Mar 8, 2013 | = | ÷ | = | ÷ | |||||||
| Mar 9, 2012 | = | ÷ | = | ÷ | |||||||
| Mar 23, 2011 | = | ÷ | = | ÷ | |||||||
| Mar 11, 2010 | = | ÷ | = | ÷ | |||||||
| Mar 9, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 29, 2008 | = | ÷ | = | ÷ | |||||||
| Mar 9, 2007 | = | ÷ | = | ÷ | |||||||
| Mar 15, 2006 | = | ÷ | = | ÷ | |||||||
| Mar 25, 2005 | = | ÷ | = | ÷ |
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), 10-K (reporting date: 2019-01-31), 10-K (reporting date: 2018-01-31), 10-K (reporting date: 2017-01-31), 10-K (reporting date: 2016-01-31), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-01-31), 10-K (reporting date: 2013-01-31), 10-K (reporting date: 2012-01-31), 10-K (reporting date: 2011-01-31), 10-K (reporting date: 2010-01-31), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-01-31), 10-K (reporting date: 2007-01-31), 10-K (reporting date: 2006-01-31), 10-K (reporting date: 2005-01-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Salesforce Inc. Annual Report.
The share price exhibited notable volatility over the observed period. Initially, the price increased steadily from $3.61 in 2005 to a peak of $14.93 in early 2008 before declining to $7.72 in 2009. Subsequently, a significant upward trajectory is observed, peaking sharply at $185.85 in 2013. After this peak, the price fluctuated with a downward trend until 2015, followed by a general upward movement reaching $303.77 in 2024. There is a slight decrease to $291.97 in 2025, yet values remain substantially higher than in the earlier years.
Book value per share (BVPS) demonstrated consistent growth throughout the period. Starting from $0.34 in 2005, it increased steadily every year, reflecting accumulation of equity or retained earnings. By 2013, BVPS had risen substantially to $15.83, although a temporary decrease to $4.98 was noted in 2014. Post-2014, there was a resumed upward trend, reaching $63.66 by 2025. This indicates strengthening underlying equity per share over time.
The Price-to-Book Value (P/BV) ratio showed a general declining trend over the years, indicating a reduction in market valuation relative to the company's book value per share. Initially, the ratio was quite elevated at 10.5 in 2005, peaking at nearly 22 in 2006, which suggests that the market price significantly exceeded book value at that time. However, from 2007 onwards, the ratio generally decreased, reaching its lowest values in the mid to late 2010s, such as 3.13 in 2023. The ratio experienced minor fluctuations but remained relatively low compared to earlier years, ending at 4.59 in 2025. This downward trend in P/BV ratio may suggest that the market price became more aligned with the company’s book value, potentially reflecting improved asset base or more conservative market valuation.
Overall, the data illustrates a pattern of strong long-term growth in book value and share price, with share price exhibiting higher volatility. The decreasing P/BV ratio over time implies a market reassessment towards a valuation more closely aligned with the company's book fundamentals.
- Share Price Trend
- Initial steady growth, peak in 2013, followed by volatility and strong growth to highest levels in 2024.
- Book Value per Share (BVPS) Trend
- Consistent annual growth with a temporary dip in 2014, overall strengthening equity base.
- Price-to-Book Value (P/BV) Ratio
- High initial ratios declining over time, indicating market valuation moving closer to book value.
- Insight
- Market price volatility contrasts with steady equity growth, with eventual rationalization in valuation multiples.
Comparison to Competitors
Salesforce Inc., P/BV, long-term trends, comparison to competitors
| Salesforce Inc. | Accenture PLC | Adobe Inc. | Cadence Design Systems Inc. | CrowdStrike Holdings Inc. | Fair Isaac Corp. | International Business Machines Corp. | Intuit Inc. | Microsoft Corp. | Oracle Corp. | Palantir Technologies Inc. | Palo Alto Networks Inc. | ServiceNow Inc. | Synopsys Inc. | Workday Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar 5, 2025 | |||||||||||||||
| Mar 6, 2024 | |||||||||||||||
| Mar 8, 2023 | |||||||||||||||
| Mar 11, 2022 | |||||||||||||||
| Mar 17, 2021 | |||||||||||||||
| Mar 5, 2020 | |||||||||||||||
| Mar 8, 2019 | |||||||||||||||
| Mar 9, 2018 | |||||||||||||||
| Mar 6, 2017 | |||||||||||||||
| Mar 7, 2016 | |||||||||||||||
| Mar 6, 2015 | |||||||||||||||
| Mar 5, 2014 | |||||||||||||||
| Mar 8, 2013 | |||||||||||||||
| Mar 9, 2012 | |||||||||||||||
| Mar 23, 2011 | |||||||||||||||
| Mar 11, 2010 | |||||||||||||||
| Mar 9, 2009 | |||||||||||||||
| Feb 29, 2008 | |||||||||||||||
| Mar 9, 2007 | |||||||||||||||
| Mar 15, 2006 | |||||||||||||||
| Mar 25, 2005 |
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), 10-K (reporting date: 2019-01-31), 10-K (reporting date: 2018-01-31), 10-K (reporting date: 2017-01-31), 10-K (reporting date: 2016-01-31), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-01-31), 10-K (reporting date: 2013-01-31), 10-K (reporting date: 2012-01-31), 10-K (reporting date: 2011-01-31), 10-K (reporting date: 2010-01-31), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-01-31), 10-K (reporting date: 2007-01-31), 10-K (reporting date: 2006-01-31), 10-K (reporting date: 2005-01-31).
Comparison to Sector (Software & Services)
Salesforce Inc., P/BV, long-term trends, comparison to sector (software & services)
| Salesforce Inc. | Software & Services | |
|---|---|---|
| Mar 5, 2025 | ||
| Mar 6, 2024 | ||
| Mar 8, 2023 | ||
| Mar 11, 2022 | ||
| Mar 17, 2021 | ||
| Mar 5, 2020 | ||
| Mar 8, 2019 | ||
| Mar 9, 2018 | ||
| Mar 6, 2017 | ||
| Mar 7, 2016 | ||
| Mar 6, 2015 | ||
| Mar 5, 2014 | ||
| Mar 8, 2013 | ||
| Mar 9, 2012 | ||
| Mar 23, 2011 | ||
| Mar 11, 2010 | ||
| Mar 9, 2009 | ||
| Feb 29, 2008 | ||
| Mar 9, 2007 | ||
| Mar 15, 2006 | ||
| Mar 25, 2005 |
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), 10-K (reporting date: 2019-01-31), 10-K (reporting date: 2018-01-31), 10-K (reporting date: 2017-01-31), 10-K (reporting date: 2016-01-31), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-01-31), 10-K (reporting date: 2013-01-31), 10-K (reporting date: 2012-01-31), 10-K (reporting date: 2011-01-31), 10-K (reporting date: 2010-01-31), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-01-31), 10-K (reporting date: 2007-01-31), 10-K (reporting date: 2006-01-31), 10-K (reporting date: 2005-01-31).
Comparison to Industry (Information Technology)
Salesforce Inc., P/BV, long-term trends, comparison to industry (information technology)
| Salesforce Inc. | Information Technology | |
|---|---|---|
| Mar 5, 2025 | ||
| Mar 6, 2024 | ||
| Mar 8, 2023 | ||
| Mar 11, 2022 | ||
| Mar 17, 2021 | ||
| Mar 5, 2020 | ||
| Mar 8, 2019 | ||
| Mar 9, 2018 | ||
| Mar 6, 2017 | ||
| Mar 7, 2016 | ||
| Mar 6, 2015 | ||
| Mar 5, 2014 | ||
| Mar 8, 2013 | ||
| Mar 9, 2012 | ||
| Mar 23, 2011 | ||
| Mar 11, 2010 | ||
| Mar 9, 2009 | ||
| Feb 29, 2008 | ||
| Mar 9, 2007 | ||
| Mar 15, 2006 | ||
| Mar 25, 2005 |
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), 10-K (reporting date: 2019-01-31), 10-K (reporting date: 2018-01-31), 10-K (reporting date: 2017-01-31), 10-K (reporting date: 2016-01-31), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-01-31), 10-K (reporting date: 2013-01-31), 10-K (reporting date: 2012-01-31), 10-K (reporting date: 2011-01-31), 10-K (reporting date: 2010-01-31), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-01-31), 10-K (reporting date: 2007-01-31), 10-K (reporting date: 2006-01-31), 10-K (reporting date: 2005-01-31).