Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.

Long-term Activity Ratios (Summary)
Net Fixed Asset Turnover
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Total Asset Turnover
Equity Turnover

Salesforce Inc., long-term (investment) activity ratios

	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020	Jan 31, 2019	Jan 31, 2018	Jan 31, 2017
Net fixed asset turnover	9.41	8.64	7.20	6.48	5.38	4.69
Net fixed asset turnover (including operating lease, right-of-use asset)	4.65	3.75	3.16	6.48	5.38	4.69
Total asset turnover	0.28	0.32	0.31	0.43	0.50	0.48
Equity turnover	0.46	0.51	0.50	0.85	1.12	1.12

Based on: 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).

Long-term activity ratio	Description	The company
Net fixed asset turnover	An activity ratio calculated as total revenue divided by net fixed assets.	Salesforce Inc. net fixed asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022.
Net fixed asset turnover (including operating lease, right-of-use asset)	An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset).	Salesforce Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2020 to 2021 and from 2021 to 2022.
Total asset turnover	An activity ratio calculated as total revenue divided by total assets.	Salesforce Inc. total asset turnover ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.
Equity turnover	An activity ratio calculated as total revenue divided by shareholders’ equity.	Salesforce Inc. equity turnover ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.

Salesforce Inc., net fixed asset turnover calculation, comparison to benchmarks

	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020	Jan 31, 2019	Jan 31, 2018	Jan 31, 2017
Selected Financial Data (US$ in millions)
Revenues	26,492)	21,252)	17,098)	13,282)	10,480)	8,392)
Property and equipment, net	2,815)	2,459)	2,375)	2,051)	1,947)	1,788)
Long-term Activity Ratio
Net fixed asset turnover¹	9.41	8.64	7.20	6.48	5.38	4.69
Benchmarks
Net Fixed Asset Turnover, Competitors²
Accenture PLC	37.12	30.83	28.68	31.06	32.91	32.23
Adobe Inc.	—	9.44	8.48	8.64	8.40	7.79
International Business Machines Corp.	—	10.07	7.33	7.71	7.38	7.12
Intuit Inc.	14.33	12.35	10.46	8.70	7.34	5.03
Mastercard Inc.	—	15.28	13.26	15.11	16.23	15.07
Microsoft Corp.	2.66	2.81	3.24	3.45	3.75	3.79
Oracle Corp.	4.37	5.74	6.26	6.32	6.75	7.10
PayPal Holdings Inc.	—	13.29	11.87	10.50	8.96	8.57
ServiceNow Inc.	—	7.70	6.85	7.39	7.51	7.89
Visa Inc.	9.09	8.88	7.98	8.53	8.34	8.15
Net Fixed Asset Turnover, Sector
Software & Services	—	5.11	5.49	5.89	6.18	6.22
Net Fixed Asset Turnover, Industry
Information Technology	—	4.54	4.32	4.37	4.63	4.76

Based on: 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).

¹ 2022 Calculation
Net fixed asset turnover = Revenues ÷ Property and equipment, net
= 26,492 ÷ 2,815 = 9.41

² Click competitor name to see calculations.

Long-term activity ratio	Description	The company
Net fixed asset turnover	An activity ratio calculated as total revenue divided by net fixed assets.	Salesforce Inc. net fixed asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022.

Salesforce Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020	Jan 31, 2019	Jan 31, 2018	Jan 31, 2017
Selected Financial Data (US$ in millions)
Revenues	26,492)	21,252)	17,098)	13,282)	10,480)	8,392)

Property and equipment, net	2,815)	2,459)	2,375)	2,051)	1,947)	1,788)
Operating lease right-of-use assets, net	2,880)	3,204)	3,040)	—)	—)	—)
Property and equipment, net (including operating lease, right-of-use asset)	5,695)	5,663)	5,415)	2,051)	1,947)	1,788)
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)¹	4.65	3.75	3.16	6.48	5.38	4.69
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors²
Accenture PLC	13.17	10.48	9.37	31.06	32.91	32.23
Adobe Inc.	—	7.46	6.42	8.64	8.40	7.79
International Business Machines Corp.	—	6.43	5.00	5.14	7.38	7.12
Intuit Inc.	8.86	8.30	8.00	8.70	7.34	5.03
Mastercard Inc.	—	9.90	8.04	9.24	16.23	15.07
Microsoft Corp.	2.26	2.37	2.70	2.87	3.05	3.79
Oracle Corp.	3.21	4.20	4.74	6.32	6.75	7.10
PayPal Holdings Inc.	—	9.88	8.53	8.18	8.96	8.57
ServiceNow Inc.	—	4.34	4.06	3.98	7.51	7.89
Visa Inc.	7.92	7.46	6.73	8.53	8.34	8.15
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Software & Services	—	3.90	4.10	4.83	5.53	6.22
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Information Technology	—	3.88	3.67	4.07	4.48	4.76

Based on: 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).

¹ 2022 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenues ÷ Property and equipment, net (including operating lease, right-of-use asset)
= 26,492 ÷ 5,695 = 4.65

² Click competitor name to see calculations.

Long-term activity ratio	Description	The company
Net fixed asset turnover (including operating lease, right-of-use asset)	An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset).	Salesforce Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2020 to 2021 and from 2021 to 2022.

Salesforce Inc., total asset turnover calculation, comparison to benchmarks

	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020	Jan 31, 2019	Jan 31, 2018	Jan 31, 2017
Selected Financial Data (US$ in millions)
Revenues	26,492)	21,252)	17,098)	13,282)	10,480)	8,392)
Total assets	95,209)	66,301)	55,126)	30,737)	21,010)	17,585)
Long-term Activity Ratio
Total asset turnover¹	0.28	0.32	0.31	0.43	0.50	0.48
Benchmarks
Total Asset Turnover, Competitors²
Accenture PLC	1.30	1.17	1.20	1.45	1.70	1.62
Adobe Inc.	—	0.58	0.53	0.54	0.48	0.50
International Business Machines Corp.	—	0.43	0.47	0.51	0.65	0.63
Intuit Inc.	0.46	0.62	0.70	1.08	1.15	1.27
Mastercard Inc.	—	0.50	0.46	0.58	0.60	0.59
Microsoft Corp.	0.54	0.50	0.47	0.44	0.43	0.37
Oracle Corp.	0.39	0.31	0.34	0.36	0.29	0.28
PayPal Holdings Inc.	—	0.33	0.30	0.35	0.36	0.32
ServiceNow Inc.	—	0.55	0.52	0.57	0.67	0.57
Visa Inc.	0.34	0.29	0.27	0.32	0.30	0.27
Total Asset Turnover, Sector
Software & Services	—	0.46	0.45	0.48	0.48	0.45
Total Asset Turnover, Industry
Information Technology	—	0.59	0.54	0.56	0.57	0.49

Based on: 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).

¹ 2022 Calculation
Total asset turnover = Revenues ÷ Total assets
= 26,492 ÷ 95,209 = 0.28

² Click competitor name to see calculations.

Long-term activity ratio	Description	The company
Total asset turnover	An activity ratio calculated as total revenue divided by total assets.	Salesforce Inc. total asset turnover ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.

Salesforce Inc., equity turnover calculation, comparison to benchmarks

	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020	Jan 31, 2019	Jan 31, 2018	Jan 31, 2017
Selected Financial Data (US$ in millions)
Revenues	26,492)	21,252)	17,098)	13,282)	10,480)	8,392)
Stockholders’ equity	58,131)	41,493)	33,885)	15,605)	9,388)	7,500)
Long-term Activity Ratio
Equity turnover¹	0.46	0.51	0.50	0.85	1.12	1.12
Benchmarks
Equity Turnover, Competitors²
Accenture PLC	2.79	2.59	2.61	3.00	4.01	4.11
Adobe Inc.	—	1.07	0.97	1.06	0.96	0.86
International Business Machines Corp.	—	3.03	3.57	3.70	4.74	4.50
Intuit Inc.	0.77	0.98	1.50	1.81	2.53	3.82
Mastercard Inc.	—	2.58	2.39	2.86	2.77	2.29
Microsoft Corp.	1.19	1.18	1.21	1.23	1.33	1.24
Oracle Corp.	—	7.73	3.24	1.81	0.87	0.70
PayPal Holdings Inc.	—	1.17	1.07	1.05	1.00	0.82
ServiceNow Inc.	—	1.60	1.59	1.63	2.35	3.31
Visa Inc.	0.82	0.64	0.60	0.66	0.61	0.56
Equity Turnover, Sector
Software & Services	—	1.36	1.40	1.52	1.51	1.38
Equity Turnover, Industry
Information Technology	—	1.60	1.57	1.59	1.56	1.26

Based on: 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).

¹ 2022 Calculation
Equity turnover = Revenues ÷ Stockholders’ equity
= 26,492 ÷ 58,131 = 0.46

² Click competitor name to see calculations.

Long-term activity ratio	Description	The company
Equity turnover	An activity ratio calculated as total revenue divided by shareholders’ equity.	Salesforce Inc. equity turnover ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.

Salesforce Inc. (NYSE:CRM)

Analysis of Long-term (Investment) Activity Ratios

Long-term Activity Ratios (Summary)

Net Fixed Asset Turnover

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Total Asset Turnover

Equity Turnover