Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
Historical Valuation Ratios (Summary)
Salesforce Inc., historical price multiples (quarterly data)
Based on: 10-Q (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-K (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30).
The financial ratios reveal several notable trends over the analyzed periods.
- Price to Earnings (P/E) Ratio
- The P/E ratio shows substantial volatility and generally very high values. After an initial lack of data, the ratio peaked at 1204.7 before markedly decreasing and fluctuating between approximately 34.86 and 879.57 in subsequent quarters. From early 2023 onward, there is a visible downward trend from a high above 500 to below 40 by early 2025, indicating a potential market reassessment of earnings valuation or improved earnings expectations.
- Price to Operating Profit (P/OP) Ratio
- This ratio exhibits extreme fluctuations, with values ranging from very high figures such as 3682.1 and 2318.8 in some quarters, to much lower values closer to the 20s and 30s towards the most recent periods. The general trajectory over time appears to be a significant decline, particularly from mid-2023 onwards, suggesting that the market price relative to operating profit has been decreasing, possibly due to growth in operating profit or a correction in share price valuation.
- Price to Sales (P/S) Ratio
- The P/S ratio presents more moderate volatility compared to P/E and P/OP. It initially records values around 8.88, then shows a general declining trend until around early 2023, reaching values near 4.85. Following that, a modest increase occurs, peaking near 9.47 in late 2024, before declining again to 5.88 by early 2025. This pattern may reflect varying revenue growth rates and market pricing dynamics over the observed periods.
- Price to Book Value (P/BV) Ratio
- The P/BV ratio starts relatively high at 7.48 and fluctuates downward with intermittent increases throughout the timeline. Notably, the ratio drops to below 3 in early 2022 and subsequently moves mostly within a narrow range between approximately 2.48 and 6.02. From mid-2023, the ratio trends generally downward, ending just under 4 by early 2025. This suggests that the market valuation relative to the company's book value has generally moderated over time.
Overall, the data indicates that valuations based on earnings and operating profit were markedly high and volatile, with significant reductions observable in more recent quarters. Ratios anchored on sales and book value show less extreme volatility but reveal shifts that could relate to fundamental business performance or broader market sentiment changes over the period.
Price to Earnings (P/E)
Salesforce Inc., historical P/E calculation (quarterly data)
| Jul 31, 2025 | 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 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 952,000,000 | 956,000,000 | 961,000,000 | 957,000,000 | 956,000,000 | 969,000,000 | 970,000,000 | 968,000,000 | 973,000,000 | 974,000,000 | 1,000,000,000 | 1,000,000,000 | 1,000,000,000 | 995,000,000 | 990,000,000 | 985,000,000 | 979,000,000 | 926,000,000 | 921,000,000 | 915,000,000 | 910,000,000 | 901,000,000 | 895,000,000 | 887,000,000 | 877,000,000 | 776,000,000 | ||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||||||
| Net income (loss) (in millions) | 1,887) | 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) | ||||||||
| Earnings per share (EPS)2 | 7.00 | 6.49 | 6.45 | 6.20 | 5.89 | 5.64 | 4.26 | 2.68 | 1.62 | 0.39 | 0.21 | 0.28 | 0.54 | 1.01 | 1.46 | 1.77 | 2.40 | 4.80 | 4.42 | 3.89 | 2.60 | -0.19 | 0.14 | 0.00 | 0.00 | 0.00 | ||||||||
| Share price1, 3 | 244.01 | 266.92 | 291.97 | 367.87 | 257.01 | 218.01 | 303.77 | 251.90 | 221.46 | 212.90 | 182.95 | 147.00 | 173.91 | 176.07 | 197.90 | 261.20 | 266.53 | 234.62 | 213.12 | 225.86 | 271.10 | 176.36 | 169.60 | 156.43 | 151.57 | 158.44 | ||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||||||
| P/E ratio4 | 34.86 | 41.12 | 45.28 | 59.32 | 43.63 | 38.62 | 71.24 | 94.07 | 136.55 | 547.14 | 879.57 | 528.78 | 324.46 | 174.67 | 135.68 | 147.95 | 110.94 | 48.91 | 48.20 | 58.10 | 104.23 | — | 1,204.70 | — | — | — | ||||||||
| Benchmarks | ||||||||||||||||||||||||||||||||||
| P/E Ratio, Competitors5 | ||||||||||||||||||||||||||||||||||
| Accenture PLC | — | — | — | 22.37 | 24.53 | 30.76 | 31.07 | 27.59 | 30.87 | 31.14 | 27.81 | 27.07 | 24.73 | 23.64 | 22.93 | 27.30 | 31.69 | 40.88 | 36.58 | 32.02 | 31.11 | 31.97 | 28.32 | 27.95 | 20.33 | 27.24 | ||||||||
| Adobe Inc. | — | — | — | — | 23.93 | 25.11 | 31.98 | 42.53 | 46.15 | 47.07 | 49.64 | 44.69 | 45.30 | 36.72 | 33.15 | 27.18 | 35.27 | 45.03 | 48.90 | 47.07 | 49.98 | 40.82 | 41.69 | 58.43 | 55.97 | 45.60 | ||||||||
| Cadence Design Systems Inc. | — | — | — | — | 99.91 | 75.17 | 67.09 | 76.54 | 69.10 | 72.17 | 78.64 | 68.16 | 73.71 | 67.89 | 59.70 | 55.98 | 59.24 | 56.00 | 53.88 | 66.92 | 59.14 | 61.38 | 62.89 | — | — | — | ||||||||
| CrowdStrike Holdings Inc. | — | — | — | 675.68 | 391.27 | 632.51 | 892.67 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Datadog Inc. | — | — | — | — | 366.47 | 220.89 | 235.49 | 220.03 | 232.13 | 340.29 | 884.97 | — | — | — | — | — | 5,463.33 | 16,813.15 | — | — | — | — | — | — | — | — | ||||||||
| Fair Isaac Corp. | — | — | — | 57.97 | 82.74 | 81.19 | 99.26 | 81.98 | 61.32 | 70.49 | 54.13 | 48.82 | 47.89 | 42.08 | 29.67 | 32.23 | 22.83 | 28.46 | 27.12 | 39.89 | 51.31 | 53.58 | 56.83 | 54.83 | 44.64 | 57.71 | ||||||||
| International Business Machines Corp. | — | — | — | — | 41.60 | 38.94 | 39.68 | 29.62 | 20.87 | 18.66 | 22.50 | 19.07 | 63.16 | 62.36 | 71.56 | 95.23 | 20.78 | 22.19 | 19.40 | 23.26 | 23.99 | 23.63 | 19.30 | — | — | — | ||||||||
| Intuit Inc. | — | — | 48.19 | 53.58 | 51.15 | 65.11 | 58.94 | 60.26 | 66.50 | 61.19 | 64.61 | 56.26 | 59.38 | 56.80 | 57.31 | 40.47 | 63.28 | 85.13 | 75.17 | 56.40 | 62.56 | 48.28 | 49.52 | — | — | — | ||||||||
| Microsoft Corp. | — | — | 37.46 | 30.40 | 35.45 | 35.53 | 35.67 | 34.41 | 36.78 | 31.86 | 33.96 | 29.67 | 26.71 | 26.77 | 28.34 | 27.89 | 30.38 | 34.30 | 35.14 | 35.22 | 34.15 | 33.95 | 35.04 | — | — | — | ||||||||
| Oracle Corp. | — | — | 47.60 | 33.25 | 42.77 | 39.36 | 37.63 | 32.94 | 27.34 | 32.03 | 38.96 | 27.11 | 24.69 | 35.29 | 26.85 | 27.46 | 26.70 | 17.45 | 15.84 | 15.15 | 17.19 | 17.88 | 16.69 | — | — | — | ||||||||
| Palantir Technologies Inc. | — | — | — | — | 538.53 | 450.16 | 632.38 | 244.40 | 147.19 | 159.62 | 246.77 | 279.03 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Palo Alto Networks Inc. | — | — | 112.39 | 97.64 | 105.57 | 47.73 | 42.42 | 41.23 | 37.18 | 127.17 | 170.35 | 290.26 | 1,656.49 | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| ServiceNow Inc. | — | — | — | — | 124.75 | 109.38 | 146.40 | 147.50 | 148.98 | 77.25 | 90.80 | 71.21 | 80.21 | 231.71 | 284.28 | 417.74 | 479.20 | 452.04 | 487.70 | 620.23 | 681.34 | 654.66 | 978.47 | — | — | — | ||||||||
| Synopsys Inc. | — | — | — | 56.20 | 33.17 | 34.48 | 33.69 | 55.30 | 63.08 | 62.39 | 70.08 | 62.65 | 67.52 | 57.28 | 51.76 | 53.76 | 46.52 | 48.45 | 73.37 | 64.13 | 45.71 | 56.52 | 55.92 | 51.53 | 54.36 | 46.45 | ||||||||
| Workday Inc. | 101.34 | 130.49 | 122.85 | 43.12 | 44.76 | 37.68 | 50.53 | 934.29 | — | — | — | — | — | — | 1,957.29 | 2,418.34 | — | — | — | — | — | — | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-K (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30).
1 Data adjusted for splits and stock dividends.
2 Q2 2026 Calculation
EPS
= (Net income (loss)Q2 2026
+ Net income (loss)Q1 2026
+ Net income (loss)Q4 2025
+ Net income (loss)Q3 2025)
÷ No. shares of common stock outstanding
= (1,887,000,000 + 1,541,000,000 + 1,708,000,000 + 1,527,000,000)
÷ 952,000,000 = 7.00
3 Closing price as at the filing date of Salesforce Inc. Quarterly or Annual Report.
4 Q2 2026 Calculation
P/E ratio = Share price ÷ EPS
= 244.01 ÷ 7.00 = 34.86
5 Click competitor name to see calculations.
The share price displayed notable fluctuations over the observed periods. Starting around $158.44 in April 2019, it experienced a significant rise reaching a peak of approximately $271.10 in July 2020. Following this peak, it declined to a lower range between $147 and $182 in the latter half of 2022. Subsequently, the price recovered again, hitting a new high near $367.87 in October 2024 before decreasing somewhat towards $244.01 by April 2025. This trajectory indicates periods of strong growth interrupted by intervals of correction or consolidation.
The earnings per share (EPS) data, which begins reporting in early 2020, exhibited considerable volatility. The initial EPS values showed a small positive figure followed by a negative dip (-0.19 in July 2020), then a sharp increase, peaking at 4.8 US$ in July 2021. After this peak, EPS declined steadily to a lower point around 0.21 in January 2023 before rising again with some fluctuations, ultimately reaching 7 US$ by April 2025. This pattern suggests phases of profitability enhancement interspersed with challenges or adjustments impacting earnings.
The price-to-earnings (P/E) ratio shows a distinctive pattern reflecting the interplay between share price and earnings. Early in the period, the P/E ratio was exceedingly high, notably 1204.7 and 104.23, indicating either low earnings relative to share price or volatility in earnings. Subsequently, the ratio declined to values commonly observed in the market, such as 38.62 to 58.1 during mid-periods. However, spikes to over 500 and even above 800 appear around late 2022 to early 2023, likely due to EPS decreases at those times despite relatively stable stock prices. Towards the end of the timeline, the P/E ratio stabilized at lower levels around 34.86 to 45.28, driven by improving earnings and fluctuating share prices.
- Share Price Trends
- Experienced a sharp rise in the first half of the timeline, peaking around mid-2020, followed by a decline and later another ascent exceeding previous highs by late 2024.
- Earnings per Share (EPS) Dynamics
- Characterized by initial volatility with a steep rise by mid-2021, a subsequent decline, and recovery leading to a peak towards the end of the timeline, indicating cyclical performance improvements.
- Price-to-Earnings Ratio Behavior
- Exhibited extreme highs early in the reporting period due to low earnings, stabilizing mid-period, then spiking again in response to EPS contractions before moderating in final periods with improving earnings.
Overall, the data suggests a company experiencing dynamic market valuation fluctuations aligned with variable earnings performance. The correlation between P/E spikes and EPS troughs underscores sensitivity to earnings changes, while share price volatility points to market reactions to broader factors impacting investor sentiment and company fundamentals.
Price to Operating Profit (P/OP)
Salesforce Inc., historical P/OP calculation (quarterly data)
| Jul 31, 2025 | 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 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 952,000,000 | 956,000,000 | 961,000,000 | 957,000,000 | 956,000,000 | 969,000,000 | 970,000,000 | 968,000,000 | 973,000,000 | 974,000,000 | 1,000,000,000 | 1,000,000,000 | 1,000,000,000 | 995,000,000 | 990,000,000 | 985,000,000 | 979,000,000 | 926,000,000 | 921,000,000 | 915,000,000 | 910,000,000 | 901,000,000 | 895,000,000 | 887,000,000 | 877,000,000 | 776,000,000 | ||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||||||
| Income (loss) from operations (in millions) | 2,332) | 1,942) | 1,820) | 1,893) | 1,783) | 1,709) | 1,622) | 1,501) | 1,476) | 412) | 357) | 460) | 193) | 20) | (176) | 38) | 332) | 354) | 193) | 224) | 178) | (140) | (36) | 65) | 58) | 210) | ||||||||
| Operating profit per share2 | 8.39 | 7.78 | 7.50 | 7.32 | 6.92 | 6.51 | 5.17 | 3.87 | 2.78 | 1.46 | 1.03 | 0.50 | 0.08 | 0.22 | 0.55 | 0.93 | 1.13 | 1.02 | 0.49 | 0.25 | 0.07 | -0.06 | 0.33 | 0.00 | 0.00 | 0.00 | ||||||||
| Share price1, 3 | 244.01 | 266.92 | 291.97 | 367.87 | 257.01 | 218.01 | 303.77 | 251.90 | 221.46 | 212.90 | 182.95 | 147.00 | 173.91 | 176.07 | 197.90 | 261.20 | 266.53 | 234.62 | 213.12 | 225.86 | 271.10 | 176.36 | 169.60 | 156.43 | 151.57 | 158.44 | ||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||||||
| P/OP ratio4 | 29.08 | 34.31 | 38.94 | 50.24 | 37.14 | 33.49 | 58.80 | 65.09 | 79.66 | 145.83 | 177.62 | 295.77 | 2,318.80 | 818.64 | 357.52 | 280.57 | 236.57 | 228.93 | 431.39 | 914.43 | 3,682.10 | — | 511.08 | — | — | — | ||||||||
| Benchmarks | ||||||||||||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | ||||||||||||||||||||||||||||||||||
| Accenture PLC | — | — | — | 16.89 | 18.52 | 23.34 | 23.52 | 20.96 | 24.43 | 24.40 | 21.69 | 21.16 | 18.24 | 17.50 | 16.83 | 19.98 | 23.62 | 31.03 | 28.35 | 25.67 | 24.96 | 25.29 | 22.21 | 21.16 | 15.44 | 20.55 | ||||||||
| Adobe Inc. | — | — | — | — | 20.00 | 21.20 | 26.38 | 34.93 | 37.61 | 37.84 | 40.52 | 35.69 | 35.47 | 28.49 | 25.85 | 21.47 | 28.50 | 36.67 | 40.64 | 49.83 | 54.24 | 47.80 | 51.75 | 56.53 | 54.83 | 41.99 | ||||||||
| Cadence Design Systems Inc. | — | — | — | — | 71.69 | 55.59 | 52.42 | 64.64 | 62.16 | 64.10 | 65.43 | 57.98 | 59.96 | 53.91 | 47.21 | 41.53 | 46.31 | 46.60 | 48.13 | 60.37 | 53.96 | 56.52 | 57.54 | — | — | — | ||||||||
| CrowdStrike Holdings Inc. | — | — | — | — | 1,246.42 | 3,413.25 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Datadog Inc. | — | — | — | — | — | 1,225.87 | 797.11 | 582.08 | 786.59 | 2,905.50 | — | — | — | — | — | — | 3,299.68 | 8,476.50 | — | — | — | — | — | — | — | — | ||||||||
| Fair Isaac Corp. | — | — | — | 41.44 | 58.76 | 58.01 | 69.38 | 55.87 | 42.81 | 48.81 | 36.15 | 33.43 | 31.94 | 28.65 | 20.43 | 22.70 | 16.86 | 21.12 | 21.03 | 30.64 | 39.21 | 42.38 | 45.39 | 45.28 | 36.51 | 46.59 | ||||||||
| International Business Machines Corp. | — | — | — | — | 23.57 | 22.11 | 25.48 | 20.07 | 18.25 | 16.26 | 17.99 | 14.81 | 15.22 | 13.98 | 14.35 | 15.37 | 15.24 | 17.07 | 16.23 | 19.92 | 19.33 | 17.63 | 15.90 | — | — | — | ||||||||
| Intuit Inc. | — | — | 37.87 | 41.91 | 40.68 | 52.88 | 48.11 | 48.74 | 53.07 | 46.91 | 49.04 | 41.32 | 43.34 | 43.50 | 46.05 | 33.22 | 53.54 | 71.64 | 62.00 | 46.48 | 52.54 | 39.99 | 41.56 | — | — | — | ||||||||
| Microsoft Corp. | — | — | 29.68 | 24.05 | 27.94 | 28.44 | 28.73 | 28.04 | 30.20 | 26.16 | 27.76 | 24.15 | 21.76 | 22.07 | 24.72 | 24.66 | 27.51 | 31.35 | 30.79 | 30.72 | 29.13 | 28.71 | 29.30 | — | — | — | ||||||||
| Oracle Corp. | — | — | 33.50 | 23.43 | 29.86 | 26.92 | 25.65 | 23.67 | 19.36 | 21.82 | 25.30 | 16.87 | 15.50 | 20.25 | 16.51 | 18.93 | 24.87 | 15.78 | 14.31 | 12.98 | 12.20 | 12.88 | 12.17 | — | — | — | ||||||||
| Palantir Technologies Inc. | — | — | — | — | 721.72 | 633.43 | 941.61 | 318.98 | 203.93 | 242.24 | 431.61 | 1,130.92 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Palo Alto Networks Inc. | — | — | 102.53 | 122.82 | 140.59 | 172.78 | 159.88 | 144.37 | 140.84 | 132.93 | 193.40 | 418.85 | 2,481.12 | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| ServiceNow Inc. | — | — | — | — | 129.42 | 113.44 | 152.95 | 156.39 | 159.12 | 156.78 | 206.26 | 174.57 | 225.28 | 224.96 | 260.26 | 357.30 | 404.46 | 408.11 | 436.46 | 570.38 | 493.80 | 404.36 | 583.07 | — | — | — | ||||||||
| Synopsys Inc. | — | — | — | 101.65 | 55.22 | 57.97 | 56.25 | 56.16 | 63.80 | 64.29 | 67.90 | 61.35 | 62.50 | 50.41 | 43.85 | 48.91 | 42.54 | 47.17 | 75.64 | 65.25 | 49.28 | 59.98 | 59.90 | 58.40 | 54.81 | 48.73 | ||||||||
| Workday Inc. | 112.10 | 162.95 | 155.71 | 166.90 | 201.96 | 210.15 | 381.31 | 4,065.25 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-K (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30).
1 Data adjusted for splits and stock dividends.
2 Q2 2026 Calculation
Operating profit per share
= (Income (loss) from operationsQ2 2026
+ Income (loss) from operationsQ1 2026
+ Income (loss) from operationsQ4 2025
+ Income (loss) from operationsQ3 2025)
÷ No. shares of common stock outstanding
= (2,332,000,000 + 1,942,000,000 + 1,820,000,000 + 1,893,000,000)
÷ 952,000,000 = 8.39
3 Closing price as at the filing date of Salesforce Inc. Quarterly or Annual Report.
4 Q2 2026 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 244.01 ÷ 8.39 = 29.08
5 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals distinct trends in the company's share price, operating profit per share, and price-to-operating profit (P/OP) ratio over the examined periods.
- Share Price
- The share price shows considerable volatility with an overall upward trend across the entire timeframe. Initially, it fluctuates moderately between approximately $150 and $270 from April 2019 to July 2020. A notable dip occurs around January to April 2022, dropping from approximately $198 to $147. Subsequently, the share price recovers and increases substantially, peaking near $368 in October 2024, before slightly declining to about $244 by April 2025. This pattern indicates strong market performance with intermittent periods of correction.
- Operating Profit per Share
- Data for operating profit per share commences from January 2020, starting with a modest $0.33, followed by a dip to negative $0.06 in the next quarter. Thereafter, it steadily improves with minor fluctuations, moving from $0.07 to $1.13 over the year 2020 into early 2021. From mid-2021 onward, the growth in operating profit per share accelerates markedly, reaching values above $7 by late 2024 and peaking near $8.39 in April 2025. This upward trajectory reflects significant operational profitability improvements over the period.
- Price-to-Operating Profit (P/OP) Ratio
- The P/OP ratio data is available starting in January 2020 and exhibits extremely high and volatile values initially, including an outlier of 3682.1, indicating distorted or unstable earnings relative to the share price in these quarters. Over time, this ratio generally declines, reflecting a normalizing relationship between share price and operating profit. By 2023 and into 2025, the ratio stabilizes in a more reasonable range between approximately 29 and 79, with a downward trend suggesting increasing earnings relative to price or a market reassessment towards operational performance.
Overall, the company demonstrates improving profitability per share alongside a robust but fluctuating share price. The normalization and decrease of the P/OP ratio over time further supports the view of strengthening operating earnings underpinning the stock valuation, especially in the later periods. The interim volatility in both share price and valuation multiples may indicate market sensitivity to operational results or external factors affecting investor sentiment during the earlier periods.
Price to Sales (P/S)
Salesforce Inc., historical P/S calculation (quarterly data)
| Jul 31, 2025 | 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 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 952,000,000 | 956,000,000 | 961,000,000 | 957,000,000 | 956,000,000 | 969,000,000 | 970,000,000 | 968,000,000 | 973,000,000 | 974,000,000 | 1,000,000,000 | 1,000,000,000 | 1,000,000,000 | 995,000,000 | 990,000,000 | 985,000,000 | 979,000,000 | 926,000,000 | 921,000,000 | 915,000,000 | 910,000,000 | 901,000,000 | 895,000,000 | 887,000,000 | 877,000,000 | 776,000,000 | ||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||||||
| Revenues (in millions) | 10,236) | 9,829) | 9,993) | 9,444) | 9,325) | 9,133) | 9,287) | 8,720) | 8,603) | 8,247) | 8,384) | 7,837) | 7,720) | 7,411) | 7,326) | 6,863) | 6,340) | 5,963) | 5,817) | 5,419) | 5,151) | 4,865) | 4,851) | 4,513) | 3,997) | 3,737) | ||||||||
| Sales per share2 | 41.49 | 40.37 | 39.43 | 38.86 | 38.14 | 36.89 | 35.94 | 35.08 | 33.99 | 33.05 | 31.35 | 30.29 | 29.32 | 28.08 | 26.76 | 25.36 | 24.04 | 24.14 | 23.07 | 22.17 | 21.30 | 20.23 | 19.10 | 0.00 | 0.00 | 0.00 | ||||||||
| Share price1, 3 | 244.01 | 266.92 | 291.97 | 367.87 | 257.01 | 218.01 | 303.77 | 251.90 | 221.46 | 212.90 | 182.95 | 147.00 | 173.91 | 176.07 | 197.90 | 261.20 | 266.53 | 234.62 | 213.12 | 225.86 | 271.10 | 176.36 | 169.60 | 156.43 | 151.57 | 158.44 | ||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||||||
| P/S ratio4 | 5.88 | 6.61 | 7.40 | 9.47 | 6.74 | 5.91 | 8.45 | 7.18 | 6.52 | 6.44 | 5.84 | 4.85 | 5.93 | 6.27 | 7.40 | 10.30 | 11.09 | 9.72 | 9.24 | 10.19 | 12.73 | 8.72 | 8.88 | — | — | — | ||||||||
| Benchmarks | ||||||||||||||||||||||||||||||||||
| P/S Ratio, Competitors5 | ||||||||||||||||||||||||||||||||||
| Accenture PLC | — | — | — | 2.60 | 2.80 | 3.51 | 3.48 | 2.98 | 3.36 | 3.32 | 2.98 | 3.05 | 2.72 | 2.67 | 2.56 | 3.04 | 3.57 | 4.72 | 4.28 | 3.86 | 3.72 | 3.75 | 3.26 | 3.11 | 2.26 | 3.01 | ||||||||
| Adobe Inc. | — | — | — | — | 7.27 | 7.69 | 8.27 | 10.88 | 11.47 | 11.33 | 13.88 | 12.12 | 11.93 | 9.66 | 8.95 | 7.61 | 10.33 | 13.47 | 14.94 | 18.20 | 19.39 | 16.61 | 17.04 | 18.15 | 17.19 | 12.64 | ||||||||
| Cadence Design Systems Inc. | — | — | — | — | 19.87 | 16.68 | 15.26 | 18.27 | 17.52 | 18.53 | 20.02 | 16.65 | 17.25 | 15.77 | 14.23 | 12.80 | 13.99 | 13.21 | 12.55 | 15.59 | 13.88 | 14.33 | 13.85 | — | — | — | ||||||||
| CrowdStrike Holdings Inc. | 25.55 | 27.75 | 19.36 | 22.89 | 18.94 | 25.36 | 26.10 | 19.77 | 14.73 | 15.27 | 12.81 | 13.55 | 23.24 | 22.99 | 30.15 | 37.35 | 54.14 | 46.77 | 48.70 | 46.83 | 43.35 | 37.61 | 22.79 | — | — | — | ||||||||
| Datadog Inc. | — | — | — | — | 15.14 | 12.92 | 16.12 | 16.67 | 15.81 | 17.37 | 20.19 | 16.72 | 14.86 | 13.74 | 14.64 | 14.59 | 26.18 | 29.04 | 49.25 | 65.77 | 53.51 | 35.53 | 49.57 | — | — | — | ||||||||
| Fair Isaac Corp. | — | — | — | 19.01 | 25.94 | 24.89 | 29.64 | 23.73 | 18.39 | 20.58 | 15.36 | 13.88 | 12.91 | 11.61 | 8.05 | 8.72 | 7.20 | 8.38 | 8.08 | 10.75 | 10.72 | 10.97 | 10.38 | 10.37 | 8.44 | 9.99 | ||||||||
| International Business Machines Corp. | — | — | — | — | 3.79 | 3.39 | 3.81 | 3.03 | 2.82 | 2.46 | 2.73 | 2.16 | 2.11 | 1.89 | 1.94 | 1.99 | 1.95 | 2.10 | 1.94 | 1.82 | 1.96 | 1.83 | 1.47 | — | — | — | ||||||||
| Intuit Inc. | — | — | 9.90 | 10.22 | 9.05 | 11.46 | 10.72 | 11.71 | 12.20 | 10.73 | 10.72 | 8.95 | 8.44 | 8.01 | 9.30 | 7.87 | 12.04 | 17.26 | 16.09 | 13.50 | 14.16 | 12.12 | 11.78 | — | — | — | ||||||||
| Microsoft Corp. | — | — | 13.54 | 10.88 | 12.56 | 12.65 | 12.82 | 12.54 | 13.34 | 11.25 | 11.60 | 9.86 | 8.83 | 9.20 | 10.40 | 10.50 | 11.70 | 13.21 | 12.81 | 12.33 | 11.43 | 10.96 | 10.85 | — | — | — | ||||||||
| Oracle Corp. | — | — | 10.32 | 7.25 | 9.05 | 8.03 | 7.44 | 6.68 | 5.37 | 5.89 | 6.63 | 4.73 | 4.71 | 4.64 | 4.25 | 4.96 | 6.62 | 5.96 | 5.38 | 4.90 | 4.53 | 4.67 | 4.33 | — | — | — | ||||||||
| Palantir Technologies Inc. | — | — | — | — | 119.47 | 82.47 | 102.00 | 44.01 | 24.02 | 20.42 | 23.27 | 19.34 | 17.93 | 10.19 | 9.34 | 7.98 | 11.62 | 9.27 | 15.58 | — | — | — | — | — | — | — | ||||||||
| Palo Alto Networks Inc. | — | — | 13.82 | 13.62 | 15.45 | 15.74 | 13.62 | 12.95 | 11.25 | 10.83 | 10.87 | 9.63 | 9.23 | 8.70 | 9.62 | 9.22 | 9.68 | 11.48 | 10.72 | 8.85 | 9.71 | 7.64 | 6.66 | — | — | — | ||||||||
| ServiceNow Inc. | — | — | — | — | 17.19 | 14.67 | 18.99 | 18.83 | 17.15 | 15.71 | 17.52 | 13.33 | 14.25 | 12.17 | 12.75 | 12.13 | 13.36 | 16.11 | 19.02 | 24.74 | 22.46 | 20.63 | 25.66 | — | — | — | ||||||||
| Synopsys Inc. | — | — | — | 17.44 | 11.53 | 11.98 | 12.45 | 13.60 | 14.87 | 14.65 | 14.75 | 11.72 | 11.75 | 10.44 | 10.03 | 11.21 | 9.86 | 9.78 | 13.22 | 11.85 | 9.27 | 10.69 | 10.08 | 9.21 | 7.59 | 6.65 | ||||||||
| Workday Inc. | 6.59 | 7.31 | 7.65 | 8.57 | 8.77 | 7.41 | 9.61 | 8.94 | 8.77 | 7.93 | 7.71 | 6.19 | 7.33 | 7.91 | 11.19 | 15.28 | 13.10 | 13.09 | 13.95 | 12.07 | 14.47 | 11.23 | 10.65 | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-K (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30).
1 Data adjusted for splits and stock dividends.
2 Q2 2026 Calculation
Sales per share
= (RevenuesQ2 2026
+ RevenuesQ1 2026
+ RevenuesQ4 2025
+ RevenuesQ3 2025)
÷ No. shares of common stock outstanding
= (10,236,000,000 + 9,829,000,000 + 9,993,000,000 + 9,444,000,000)
÷ 952,000,000 = 41.49
3 Closing price as at the filing date of Salesforce Inc. Quarterly or Annual Report.
4 Q2 2026 Calculation
P/S ratio = Share price ÷ Sales per share
= 244.01 ÷ 41.49 = 5.88
5 Click competitor name to see calculations.
The share price exhibits significant fluctuations over the periods analyzed. Initially, the price rose steadily from about $158 in April 2019 to a peak near $271 in July 2020. Following this peak, the share price experienced several declines and rebounds, with a notable dip around April 2022, reaching the mid-$170 range. Subsequently, the price showed recovery and growth, reaching a new peak of approximately $368 in October 2024, before slightly decreasing towards $244 by April 2025.
Sales per share is only available from January 2020 onward and presents a consistent upward trend throughout the timeline. Starting at $19.10 in January 2020, it increases gradually each quarter, reaching $41.49 by April 2025. This trend indicates continuous revenue growth on a per-share basis, reflecting robust sales performance.
The price-to-sales (P/S) ratio shows a fluctuating pattern with a general downward trend after an initial high point. Beginning around 8.88 in April 2020, the ratio escalates to a peak of 12.73 in October 2020, then declines progressively to lows near 4.85 by January 2023. After this trough, it resumes an upward course, peaking again at 9.47 in October 2024, followed by a moderate decrease to about 5.88 by April 2025. These fluctuations suggest changing market valuation dynamics relative to sales, with periods of premium valuation followed by phases of relative undervaluation or market corrections.
Overall, the data reveals a scenario in which sales per share steadily increase, sharing a signal of growing business performance, while share price and valuation multiples experience more variability. The divergence between the steady rise in sales per share and the volatility in share price and P/S ratio could imply external market influences or investor sentiment affecting the equity valuation beyond the fundamental sales growth.
Price to Book Value (P/BV)
Salesforce Inc., historical P/BV calculation (quarterly data)
| Jul 31, 2025 | 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 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 952,000,000 | 956,000,000 | 961,000,000 | 957,000,000 | 956,000,000 | 969,000,000 | 970,000,000 | 968,000,000 | 973,000,000 | 974,000,000 | 1,000,000,000 | 1,000,000,000 | 1,000,000,000 | 995,000,000 | 990,000,000 | 985,000,000 | 979,000,000 | 926,000,000 | 921,000,000 | 915,000,000 | 910,000,000 | 901,000,000 | 895,000,000 | 887,000,000 | 877,000,000 | 776,000,000 | ||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||||||
| Stockholders’ equity (in millions) | 61,328) | 60,666) | 61,173) | 58,525) | 57,633) | 59,683) | 59,646) | 58,090) | 58,082) | 57,412) | 58,359) | 59,351) | 60,098) | 58,876) | 58,131) | 57,054) | 55,520) | 42,567) | 41,493) | 40,310) | 38,440) | 34,565) | 33,885) | 33,279) | 17,166) | 16,446) | ||||||||
| Book value per share (BVPS)2 | 64.42 | 63.46 | 63.66 | 61.15 | 60.29 | 61.59 | 61.49 | 60.01 | 59.69 | 58.94 | 58.36 | 59.35 | 60.10 | 59.17 | 58.72 | 57.92 | 56.71 | 45.97 | 45.05 | 44.05 | 42.24 | 38.36 | 37.86 | 37.52 | 19.57 | 21.19 | ||||||||
| Share price1, 3 | 244.01 | 266.92 | 291.97 | 367.87 | 257.01 | 218.01 | 303.77 | 251.90 | 221.46 | 212.90 | 182.95 | 147.00 | 173.91 | 176.07 | 197.90 | 261.20 | 266.53 | 234.62 | 213.12 | 225.86 | 271.10 | 176.36 | 169.60 | 156.43 | 151.57 | 158.44 | ||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||||||
| P/BV ratio4 | 3.79 | 4.21 | 4.59 | 6.02 | 4.26 | 3.54 | 4.94 | 4.20 | 3.71 | 3.61 | 3.13 | 2.48 | 2.89 | 2.98 | 3.37 | 4.51 | 4.70 | 5.10 | 4.73 | 5.13 | 6.42 | 4.60 | 4.48 | 4.17 | 7.74 | 7.48 | ||||||||
| Benchmarks | ||||||||||||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | ||||||||||||||||||||||||||||||||||
| Accenture PLC | — | — | — | 5.82 | 6.44 | 7.98 | 7.98 | 6.92 | 8.00 | 8.03 | 7.44 | 7.65 | 7.22 | 7.26 | 7.13 | 8.46 | 9.85 | 12.45 | 11.06 | 9.57 | 9.27 | 9.38 | 8.51 | 8.64 | 6.53 | 8.73 | ||||||||
| Adobe Inc. | — | — | — | — | 14.36 | 12.95 | 12.61 | 15.67 | 15.79 | 14.62 | 16.31 | 14.51 | 14.82 | 12.24 | 11.22 | 9.10 | 12.33 | 15.78 | 15.94 | 19.07 | 20.14 | 16.77 | 16.53 | 19.27 | 19.03 | 14.08 | ||||||||
| Cadence Design Systems Inc. | — | — | — | — | 20.19 | 17.02 | 15.15 | 17.43 | 17.12 | 21.18 | 24.05 | 20.96 | 22.55 | 19.75 | 18.46 | 16.23 | 17.49 | 15.10 | 13.68 | 17.63 | 15.94 | 15.79 | 14.90 | 13.22 | 12.81 | 10.07 | ||||||||
| CrowdStrike Holdings Inc. | 29.53 | 33.27 | 23.34 | 28.00 | 23.34 | 32.84 | 34.61 | 27.75 | 21.18 | 23.27 | 19.61 | 20.98 | 34.78 | 34.12 | 42.67 | 50.64 | 68.13 | 55.02 | 48.91 | 43.84 | 35.86 | 28.17 | 14.78 | 14.59 | 23.58 | 235.40 | ||||||||
| Datadog Inc. | — | — | — | — | 14.29 | 12.55 | 15.94 | 16.08 | 15.73 | 17.81 | 21.22 | 18.59 | 17.10 | 16.30 | 17.39 | 17.33 | 29.42 | 31.03 | 48.66 | 60.46 | 44.80 | 28.33 | 31.25 | 29.28 | 25.01 | 25.68 | ||||||||
| Fair Isaac Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 116.79 | 63.97 | 44.30 | 40.58 | 51.41 | 48.35 | 49.58 | ||||||||
| International Business Machines Corp. | — | — | — | — | 8.82 | 7.93 | 8.75 | 7.75 | 7.32 | 6.56 | 7.49 | 5.72 | 5.76 | 5.29 | 5.34 | 5.99 | 5.98 | 6.43 | 5.90 | 4.99 | 5.83 | 5.93 | 5.24 | 4.65 | 5.39 | 5.61 | ||||||||
| Intuit Inc. | — | — | 9.46 | 9.23 | 8.65 | 10.48 | 9.47 | 9.87 | 10.89 | 9.31 | 8.92 | 7.16 | 7.29 | 6.64 | 7.20 | 5.97 | 8.81 | 18.30 | 15.71 | 12.05 | 12.32 | 18.11 | 17.71 | 15.95 | 20.02 | 19.43 | ||||||||
| Microsoft Corp. | — | — | 11.11 | 9.13 | 10.86 | 11.18 | 11.71 | 11.72 | 12.74 | 11.13 | 11.92 | 10.52 | 9.84 | 10.77 | 12.38 | 12.40 | 13.52 | 15.32 | 15.16 | 14.67 | 13.45 | 13.07 | 13.11 | 11.75 | 11.61 | 9.87 | ||||||||
| Oracle Corp. | — | — | 28.96 | 24.17 | 36.17 | 39.94 | 45.25 | 62.34 | 71.68 | 126.71 | 308.71 | — | — | — | — | — | — | — | 41.57 | 21.84 | 22.54 | 19.31 | 14.01 | 10.62 | 11.23 | 9.59 | ||||||||
| Palantir Technologies Inc. | — | — | — | — | 69.33 | 47.36 | 58.42 | 25.89 | 14.70 | 12.62 | 14.90 | 12.89 | 12.41 | 7.43 | 6.94 | 6.12 | 8.63 | 6.46 | 10.48 | 21.63 | 23.50 | 19.63 | — | — | — | — | ||||||||
| Palo Alto Networks Inc. | — | — | 16.29 | 16.72 | 20.77 | 22.07 | 21.15 | 22.59 | 19.43 | 35.97 | 42.84 | 50.71 | 77.94 | 99.68 | 252.00 | 141.27 | 399.29 | 100.84 | 71.88 | 35.40 | 35.42 | 36.65 | 20.61 | 30.82 | 12.21 | 14.24 | ||||||||
| ServiceNow Inc. | — | — | — | — | 18.95 | 16.59 | 21.71 | 21.21 | 19.70 | 18.37 | 20.60 | 15.73 | 16.49 | 16.55 | 18.36 | 18.56 | 21.02 | 25.22 | 30.36 | 38.72 | 35.47 | 32.82 | 40.91 | 37.26 | 33.38 | 29.58 | ||||||||
| Synopsys Inc. | — | — | — | 4.07 | 7.24 | 7.82 | 8.48 | 10.75 | 12.58 | 13.16 | 14.02 | 10.87 | 10.66 | 9.58 | 9.24 | 9.90 | 8.43 | 8.17 | 10.50 | 9.38 | 7.26 | 8.37 | 7.57 | 7.04 | 6.04 | 5.41 | ||||||||
| Workday Inc. | 6.44 | 7.13 | 7.15 | 8.10 | 8.27 | 6.87 | 8.63 | 9.42 | 9.39 | 8.63 | 8.58 | 6.81 | 8.11 | 8.93 | 12.68 | 17.74 | 15.82 | 17.19 | 18.38 | 16.33 | 20.36 | 16.49 | 15.54 | 16.40 | 18.29 | 22.98 | ||||||||
Based on: 10-Q (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-K (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30).
1 Data adjusted for splits and stock dividends.
2 Q2 2026 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= 61,328,000,000 ÷ 952,000,000 = 64.42
3 Closing price as at the filing date of Salesforce Inc. Quarterly or Annual Report.
4 Q2 2026 Calculation
P/BV ratio = Share price ÷ BVPS
= 244.01 ÷ 64.42 = 3.79
5 Click competitor name to see calculations.
The share price displayed considerable fluctuations over the observed period. Initially, from April 2019 to January 2020, the price showed a moderate upward trend, moving from approximately $158 to about $170. A notable surge occurred by July 2020, reaching $271, followed by a decline and stabilization around the $200–$260 range up to early 2022. Subsequently, the share price dropped to a low near $147 in late 2022 but recovered strongly in the first quarter of 2024, peaking around $368 before experiencing a subsequent decline towards $244 by April 2025. This pattern suggests periods of volatility with some recovery phases and peak valuations within the dataset timeframe.
Book value per share (BVPS) exhibited a generally steady upward trajectory. Starting from roughly $21 in April 2019, it increased continuously, reaching about $64 by April 2025. This steady growth in BVPS indicates consistent accumulation of shareholder equity over time, reflecting positively on the company's net asset base per share. There were no significant declines, and the progression was relatively smooth, highlighting stable financial strengthening.
The price-to-book value ratio (P/BV) showed a more complex pattern. Initially, there was a sharp decline from 7.48 in April 2019 down to a low of approximately 2.48 by October 2022, indicating that the share price growth did not keep pace with the increase in book value during this period or that the market valuation became more conservative. Following this low point, the ratio rebounded sharply to over 6 by October 2024, corresponding with the peak in share price, and then fell again to around 3.79 by April 2025. The oscillation in P/BV suggests varying market sentiment and valuation multiples, reflecting fluctuating investor perceptions of the company's growth prospects or risk profile relative to its book value.
In summary, the data indicates a company with steadily increasing book value per share, punctuated by considerable volatility in market valuation as evidenced by share price movements and P/BV ratio fluctuations. The variations in market multiples suggest that external factors or market conditions heavily influenced investor sentiment during the period, despite an underlying trend of asset growth.