Selected Financial Data
since 2005
Income Statement
Salesforce Inc., selected items from income statement, long-term trends
US$ in millions
| 12 months ended: | Revenues | Income (loss) from operations | Net income (loss) |
|---|---|---|---|
| Jan 31, 2025 | 37,895) | 7,205) | 6,197) |
| Jan 31, 2024 | 34,857) | 5,011) | 4,136) |
| Jan 31, 2023 | 31,352) | 1,030) | 208) |
| Jan 31, 2022 | 26,492) | 548) | 1,444) |
| Jan 31, 2021 | 21,252) | 455) | 4,072) |
| Jan 31, 2020 | 17,098) | 297) | 126) |
| Jan 31, 2019 | 13,282) | 535) | 1,110) |
| Jan 31, 2018 | 10,480) | 236) | 127) |
| Jan 31, 2017 | 8,392) | 64) | 180) |
| Jan 31, 2016 | 6,667) | 115) | (47) |
| Jan 31, 2015 | 5,374) | (146) | (263) |
| Jan 31, 2014 | 4,071) | (286) | (232) |
| Jan 31, 2013 | 3,050) | (111) | (270) |
| Jan 31, 2012 | 2,267) | (35) | (12) |
| Jan 31, 2011 | 1,657) | 97) | 64) |
| Jan 31, 2010 | 1,306) | 115) | 81) |
| Jan 31, 2009 | 1,077) | 64) | 43) |
| Jan 31, 2008 | 749) | 20) | 18) |
| Jan 31, 2007 | 497) | (4) | —) |
| Jan 31, 2006 | 310) | 20) | 28) |
| Jan 31, 2005 | 176) | 7) | 7) |
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).
- Revenue Trends
- Revenues exhibit a consistent and substantial upward trajectory over the analyzed period. Starting at $176 million in January 2005, revenues increased steadily each year, reaching $37,895 million by January 2024, and further to $37,895 million in the projected January 2025. This reflects strong and continuous growth in the company's sales and market presence.
- Income (Loss) from Operations
- The operating income shows considerable volatility in early years, with both positive and negative results. Initial positive income in 2005 and 2006 was followed by negative operating losses in 2007, 2008, and 2009. Starting from 2010, the company consistently returned to profitability in operations. From 2015 onward, operating income demonstrates a generally increasing trend, peaking notably in 2024 at $5,011 million and projected to further increase to $7,205 million in 2025. This indicates improved operational efficiency and scaling effects in later years.
- Net Income (Loss)
- Net income also shows volatility, especially in the early years, where isolated losses were evident, including substantial negative amounts in 2012 and 2013. However, from 2014 forward, net income stabilizes with predominantly positive values, albeit with fluctuations. Notably, there are peaks in 2015 with $1,110 million and a significant surge in 2021 with $4,072 million, followed by some variability in subsequent years. The projected increase to $6,197 million in 2025 suggests expectations for stronger profitability and growth in bottom-line results.
- Overall Analysis
- Reviewing the data as a whole, the company has experienced strong revenue growth over the two decades. Operational losses were apparent in the mid-period but have been overcome, leading to sustained operating profits in recent years. The net income profile, while initially unstable, follows the improving operating results and reflects progress towards profitability with notable jumps in the last few years. The data suggest successful scaling and improving financial health, with projections indicating continued positive momentum in both operating and net earnings.
Balance Sheet: Assets
Salesforce Inc., selected items from assets, long-term trends
US$ in millions
| Current assets | Total assets | |
|---|---|---|
| Jan 31, 2025 | 29,727) | 102,928) |
| Jan 31, 2024 | 29,074) | 99,823) |
| Jan 31, 2023 | 26,395) | 98,849) |
| Jan 31, 2022 | 22,850) | 95,209) |
| Jan 31, 2021 | 21,889) | 66,301) |
| Jan 31, 2020 | 15,963) | 55,126) |
| Jan 31, 2019 | 10,683) | 30,737) |
| Jan 31, 2018 | 9,290) | 21,010) |
| Jan 31, 2017 | 5,997) | 17,585) |
| Jan 31, 2016 | 4,347) | 12,771) |
| Jan 31, 2015 | 3,550) | 10,693) |
| Jan 31, 2014 | 2,680) | 9,153) |
| Jan 31, 2013 | 2,016) | 5,529) |
| Jan 31, 2012 | 1,672) | 4,164) |
| Jan 31, 2011 | 1,075) | 3,091) |
| Jan 31, 2010 | 1,706) | 2,460) |
| Jan 31, 2009 | 1,069) | 1,480) |
| Jan 31, 2008 | 741) | 1,090) |
| Jan 31, 2007 | 419) | 665) |
| Jan 31, 2006 | 303) | 435) |
| Jan 31, 2005 | 179) | 280) |
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).
The financial data reflect significant trends in both current assets and total assets over a 21-year period, demonstrating the company's growth trajectory and changing asset composition.
- Current Assets
- The current assets have shown a general upward trend from 179 million USD in early 2005 to approximately 29,727 million USD by early 2025. This represents a substantial increase, indicative of growing liquidity and potentially expanding operational scale. Notable growth spurts appear between 2017 and 2021, where current assets surged from 5,997 million USD to 21,889 million USD, suggesting enhanced capacity in short-term resources or liquid holdings. Some volatility is observed, including a dip around 2010 to 2011 (from 1,706 million USD down to 1,075 million USD), followed by recovery, which may indicate strategic asset restructurings or operational adjustments during that time frame.
- Total Assets
- Total assets have expanded markedly from 280 million USD in 2005 to 102,928 million USD in 2025. This rapid growth reflects substantial asset accumulation, pointing to significant investments or acquisitions. The trend is generally smooth and accelerating, especially post-2014, reflecting an aggressive expansion strategy. The total assets grew more than threefold between 2013 and 2021, from 5,529 million USD to 66,301 million USD, showing intensified capital accumulation and possibly extensive capital expenditures or merger activities. Between 2022 and 2025, the total asset base stabilizes, showing slower growth relative to prior periods.
- Asset Composition
- Comparing current assets to total assets reveals changes in asset structure over time. In earlier years (2005-2010), current assets comprised a smaller proportion of total assets, suggesting a heavier investment in long-term assets. However, post-2016, current assets increase significantly and their share of total assets appears to rise, indicating a shift possibly towards more liquid or short-term asset holdings. This shift might align with changes in operational strategy or financial management practices focused on liquidity.
Balance Sheet: Liabilities and Stockholders’ Equity
Salesforce Inc., selected items from liabilities and stockholders’ equity, long-term trends
US$ in millions
| Current liabilities | Total liabilities | Total debt and finance lease liabilities | Stockholders’ equity | |
|---|---|---|---|---|
| Jan 31, 2025 | 27,980) | 41,755) | 9,111) | 61,173) |
| Jan 31, 2024 | 26,631) | 40,177) | 10,400) | 59,646) |
| Jan 31, 2023 | 25,891) | 40,490) | 11,392) | 58,359) |
| Jan 31, 2022 | 21,788) | 37,078) | 10,981) | 58,131) |
| Jan 31, 2021 | 17,728) | 24,808) | 2,805) | 41,493) |
| Jan 31, 2020 | 14,845) | 21,241) | 3,062) | 33,885) |
| Jan 31, 2019 | 11,255) | 15,132) | 3,367) | 15,605) |
| Jan 31, 2018 | 10,130) | 11,617) | 2,015) | 9,388) |
| Jan 31, 2017 | 7,258) | 10,085) | 2,406) | 7,500) |
| Jan 31, 2016 | 5,617) | 7,768) | 1,792) | 5,003) |
| Jan 31, 2015 | 4,390) | 6,718) | 1,938) | 3,975) |
| Jan 31, 2014 | 3,980) | 6,088) | 2,392) | 3,039) |
| Jan 31, 2013 | 2,918) | 3,158) | 584) | 2,318) |
| Jan 31, 2012 | 2,323) | 2,498) | 557) | 1,587) |
| Jan 31, 2011 | 1,276) | 1,815) | 491) | 1,276) |
| Jan 31, 2010 | 908) | 1,404) | 466) | 1,044) |
| Jan 31, 2009 | 767) | 808) | 6) | 672) |
| Jan 31, 2008 | 606) | 638) | —) | 452) |
| Jan 31, 2007 | 377) | 383) | —) | 282) |
| Jan 31, 2006 | 235) | 238) | 1) | 196) |
| Jan 31, 2005 | 132) | 135) | 1) | 145) |
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).
The financial data reveals notable trends in the company’s liabilities and equity over the examined period.
- Current liabilities
- Current liabilities exhibited a consistent upward trajectory from 132 million US dollars in 2005 to 27,980 million US dollars in 2025. The increase was especially pronounced from 2011 onwards, accelerating significantly after 2017 and nearly doubling between 2019 and 2023, indicating growing short-term financial obligations.
- Total liabilities
- Total liabilities also increased substantially, starting at 135 million US dollars in 2005 and reaching 41,755 million US dollars in 2025. The growth was steady with a marked surge beginning around 2009 and a sharp escalation post-2017. This suggests the company expanded its overall borrowing or accrued more obligations over time.
- Total debt and finance lease liabilities
- The total debt and finance lease liabilities remained relatively low and stable during the initial years, with almost negligible amounts until 2009. From 2009 onward, the figures grew strongly, peaking at 11,392 million US dollars in 2023 before declining slightly to 9,111 million US dollars in 2025. This pattern may imply active debt management or refinancing activity during this period.
- Stockholders’ equity
- Stockholders' equity showed a robust and consistent increase throughout the entire timeframe, growing from 145 million US dollars in 2005 to 61,173 million US dollars in 2025. The most significant acceleration occurred between 2015 and 2022, reflecting substantial accumulated earnings or capital injections, which may have strengthened the company’s financial position.
Overall, the data indicates strong growth in both liabilities and equity, with equity expansion outpacing the growth in total liabilities in later years, potentially signaling improved capitalization and financial strength. However, the sizable increase in current liabilities and total debt from 2017 onwards warrants careful monitoring due to the associated increase in short-term financial obligations and leverage.
Cash Flow Statement
Salesforce Inc., selected items from cash flow statement, long-term trends
US$ in millions
| 12 months ended: | Net cash provided by operating activities | Net cash used in investing activities | Net cash provided by (used in) financing activities |
|---|---|---|---|
| Jan 31, 2025 | 13,092) | (3,163) | (9,429) |
| Jan 31, 2024 | 10,234) | (1,327) | (7,477) |
| Jan 31, 2023 | 7,111) | (1,989) | (3,562) |
| Jan 31, 2022 | 6,000) | (14,536) | 7,838) |
| Jan 31, 2021 | 4,801) | (3,971) | 1,194) |
| Jan 31, 2020 | 4,331) | (2,980) | 164) |
| Jan 31, 2019 | 3,398) | (5,308) | 2,010) |
| Jan 31, 2018 | 2,738) | (2,011) | 221) |
| Jan 31, 2017 | 2,162) | (2,684) | 998) |
| Jan 31, 2016 | 1,613) | (1,488) | 133) |
| Jan 31, 2015 | 1,174) | (698) | (310) |
| Jan 31, 2014 | 875) | (2,432) | 1,598) |
| Jan 31, 2013 | 737) | (939) | 335) |
| Jan 31, 2012 | 592) | (490) | 76) |
| Jan 31, 2011 | 459) | (1,063) | 14) |
| Jan 31, 2010 | 271) | (379) | 637) |
| Jan 31, 2009 | 230) | (121) | 97) |
| Jan 31, 2008 | 204) | (103) | 93) |
| Jan 31, 2007 | 111) | (169) | 45) |
| Jan 31, 2006 | 96) | (48) | 16) |
| Jan 31, 2005 | 56) | (149) | 119) |
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).
The analysis of the annual financial data reveals significant trends in operating, investing, and financing cash flows over the two-decade period.
- Net Cash Provided by Operating Activities
-
This metric shows a consistent and substantial upward trend throughout the observed years. Starting at 56 million USD in 2005, the cash flow from operations increased steadily, with occasional accelerations, reaching 13,092 million USD by 2025. This indicates a strong and growing ability to generate cash from core business operations, reflecting operational efficiency and likely growth in revenues and profitability over time.
- Net Cash Used in Investing Activities
-
The investing cash flows are continually negative, indicating ongoing investments in assets, acquisitions, or other long-term commitments. The outflows fluctuate considerably, with some years showing more intense investment activity than others. For example, there is a peak outflow of -14,536 million USD in 2022, followed by a reduction in investments in the subsequent years. This variability may suggest periods of strategic expansion or acquisition, balanced by phases of consolidation or reduced capital expenditures later.
- Net Cash Provided by (Used in) Financing Activities
-
Financing cash flows show significant volatility and shifts from positive to negative values. Early years generally reflect positive net inflows, with notable peaks such as 1,598 million USD in 2014, and 2,010 million USD in 2019. However, the latter years show marked outflows, with substantial negative cash flow values starting in 2023 (-3,562 million USD), continuing sharply downward to -9,429 million USD in 2025. This pattern might indicate changing financing strategies, such as increased debt repayments, repurchase of shares, or reduced reliance on external financing in recent years.
In summary, the financial data analysis portrays a company with growing operational cash generation, consistent but variable investment spending, and fluctuating financing activities with a recent shift toward cash outflows. These trends suggest a maturing business with strong operational performance, dynamic capital investments, and evolving financial structuring over time.
Per Share Data
Salesforce Inc., selected data per share, long-term trends
US$
| 12 months ended: | Basic earnings per share 1 | Diluted earnings per share 2 | Dividend per share 3 |
|---|---|---|---|
| Jan 31, 2025 | 6.44 | 6.36 | 1.60 |
| Jan 31, 2024 | 4.25 | 4.20 | 0.00 |
| Jan 31, 2023 | 0.21 | 0.21 | 0.00 |
| Jan 31, 2022 | 1.51 | 1.48 | 0.00 |
| Jan 31, 2021 | 4.48 | 4.38 | 0.00 |
| Jan 31, 2020 | 0.15 | 0.15 | 0.00 |
| Jan 31, 2019 | 1.48 | 1.43 | 0.00 |
| Jan 31, 2018 | 0.18 | 0.17 | 0.00 |
| Jan 31, 2017 | 0.26 | 0.26 | 0.00 |
| Jan 31, 2016 | -0.07 | -0.07 | 0.00 |
| Jan 31, 2015 | -0.42 | -0.42 | 0.00 |
| Jan 31, 2014 | -0.39 | -0.39 | 0.00 |
| Jan 31, 2013 | -0.48 | -0.48 | 0.00 |
| Jan 31, 2012 | -0.02 | -0.02 | 0.00 |
| Jan 31, 2011 | 0.13 | 0.12 | 0.00 |
| Jan 31, 2010 | 0.16 | 0.16 | 0.00 |
| Jan 31, 2009 | 0.09 | 0.09 | 0.00 |
| Jan 31, 2008 | 0.04 | 0.04 | 0.00 |
| Jan 31, 2007 | 0.00 | 0.00 | 0.00 |
| Jan 31, 2006 | 0.07 | 0.06 | 0.00 |
| Jan 31, 2005 | 0.03 | 0.02 | 0.00 |
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, 2, 3 Data adjusted for splits and stock dividends.
The financial data reveals several distinct trends in the earnings per share and dividend distributions over the periods analyzed.
- Basic earnings per share (EPS)
- The basic EPS shows a fluctuating pattern with significant volatility. Initial values from 2005 to around 2010 indicate a generally low but positive EPS, ranging from $0.03 to $0.16 with some minor increases. However, from 2011 through 2014, the EPS turns negative, reaching lows near -$0.48, suggesting periods of loss or increased expenses during these years. Starting from 2015, there is a noticeable recovery and growth trend, with EPS moving back into positive territory and showing a strong upward trajectory, peaking at $6.44 by 2025. This indicates improved profitability and earnings performance in recent years.
- Diluted earnings per share (EPS)
- The diluted EPS follows a nearly identical pattern to the basic EPS with minor differences in magnitude. It similarly reflects initial modest gains, a period of negative results roughly between 2011 and 2014, and a substantial recovery and growth post-2015. The peak diluted EPS reaches $6.36 by 2025, which closely aligns with the basic EPS trend, reaffirming the overall improvement in earnings despite the earlier volatility.
- Dividend per share
- The data on dividends per share is largely absent until the final period, where a dividend of $1.60 per share appears in 2025. This suggests that no dividends were declared or paid in earlier years, possibly reflecting the company's prior focus on reinvestment or financial restructuring rather than shareholder return through dividends. The introduction of dividends in 2025 may signal a stronger financial position and confidence in sustained profitability.
In summary, the company experienced considerable earnings instability with negative earnings phases extending over multiple years. However, from around 2015 onwards, earnings improved substantially, culminating in strong profitability by 2025. The initiation of dividends at the end of the period under review may illustrate a strategic shift towards returning value to shareholders, backed by enhanced financial performance.