Enterprise Value (EV)
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- Income Statement
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to FCFF (EV/FCFF)
- Dividend Discount Model (DDM)
- Net Profit Margin since 2005
- Current Ratio since 2005
- Analysis of Revenues
- Analysis of Debt
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Current Enterprise Value (EV)
Salesforce Inc., current enterprise value calculation
| Current share price (P) | |
| No. shares of common stock outstanding | |
| US$ in millions | |
| Common equity (market value)1 | |
| Add: Preferred stock, $0.001 par value; none issued and outstanding (per books) | |
| Total equity | |
| Add: Finance lease liabilities, current (per books) | |
| Add: Debt, current (per books) | |
| Add: Noncurrent debt, excluding current portion (per books) | |
| Add: Noncurrent finance lease liabilities (per books) | |
| Total equity and debt | |
| Less: Cash and cash equivalents | |
| Less: Marketable securities | |
| Enterprise value (EV) | |
Based on: 10-K (reporting date: 2026-01-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
Historical Enterprise Value (EV)
Salesforce Inc., EV calculation
Based on: 10-K (reporting date: 2026-01-31), 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).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Salesforce Inc. Annual Report.
3 2026 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
The enterprise value exhibited fluctuations over the observed period. Initial values demonstrate a moderate increase from 2021 to 2022, followed by a decrease in 2023. A substantial rise occurred between 2023 and 2024, with a subsequent decline in 2025, and a further decrease in 2026, returning to levels comparable to those seen in 2023.
- Enterprise Value Trend
- From January 31, 2021, to January 31, 2023, the enterprise value decreased from US$187,123 million to US$181,834 million, representing a slight downward trend. A significant increase to US$290,863 million was then observed by January 31, 2024. However, this was followed by a decrease to US$275,662 million in 2025 and a more pronounced decline to US$183,502 million by January 31, 2026.
- Relationship between Common Equity and Enterprise Value
- The common equity (market value) generally mirrored the trend in enterprise value, with a decrease in 2022 and 2023, a substantial increase in 2024, and subsequent declines in 2025 and 2026. However, the magnitude of the changes in common equity was not always directly proportional to those in enterprise value, suggesting the influence of other factors, such as debt levels.
- Total Equity and Debt Impact
- Total equity and debt increased from US$199,089 million in 2021 to US$206,902 million in 2022, then decreased to US$194,342 million in 2023. A significant increase to US$305,057 million occurred in 2024, followed by a decrease to US$289,694 million in 2025 and US$193,067 million in 2026. The fluctuations in total equity and debt contributed to the overall changes in enterprise value, particularly the substantial increase observed in 2024.
The observed volatility in enterprise value suggests potential shifts in investor sentiment, debt financing strategies, or overall market conditions. The recent decline from 2024 to 2026 warrants further investigation to determine the underlying causes and potential implications for future performance.