Common-Size Balance Sheet: Assets
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- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Dividend Discount Model (DDM)
- Debt to Equity since 2005
- Price to Earnings (P/E) since 2005
- Analysis of Debt
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Salesforce Inc., common-size consolidated balance sheet: assets
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).
The asset composition of the entity demonstrates significant shifts over the six-year period. A notable trend is the decreasing proportion of highly liquid assets, specifically cash and marketable securities, while the proportion of longer-term assets, particularly goodwill, remains substantial. Current assets initially decreased, then showed some recovery, while noncurrent assets generally maintained a higher percentage of the total.
- Liquidity and Current Assets
- Current assets as a percentage of total assets decreased from 33.01% in 2021 to a low of 24.00% in 2022, before partially recovering to 25.13% in 2026. Within current assets, cash and cash equivalents decreased from 9.34% to 6.52% over the period, with some fluctuation. Marketable securities experienced a more pronounced decline, falling from 8.70% in 2021 to 1.99% in 2026. Accounts receivable, net, exhibited a consistent upward trend, increasing from 11.74% to 12.77% of total assets. Prepaid expenses and other current assets also showed a gradual increase.
- Long-Term Investments and Intangibles
- Goodwill consistently represents the largest single component of assets, fluctuating between 39.69% and 51.59%. Intangible assets acquired through business combinations decreased from 9.43% in 2022 to 4.30% in 2025, before increasing to 6.07% in 2026. Strategic investments showed volatility, increasing from 4.73% in 2023 to 6.76% in 2026. Noncurrent costs capitalized to obtain revenue contracts remained relatively stable, hovering around 2.5-2.7% of total assets.
- Fixed Assets and Operating Leases
- Property and equipment, net, decreased steadily as a percentage of total assets, from 3.71% in 2021 to 2.78% in 2026. Operating lease right-of-use assets, net, also experienced a consistent decline, falling from 4.83% to 1.78% over the same period. This suggests a potential shift away from ownership towards leasing arrangements, or a decrease in capital expenditure relative to overall asset growth.
- Other Assets
- Deferred tax assets and other assets, net, showed an increasing trend from 2.75% in 2022 to 4.63% in 2025, before decreasing slightly to 3.23% in 2026. Costs capitalized to obtain revenue contracts, both current and noncurrent, remained a relatively small but stable portion of total assets.
Overall, the entity appears to be transitioning towards a more intangible-asset-heavy balance sheet, with a significant reliance on goodwill. The decrease in liquid assets and fixed assets, coupled with the increase in accounts receivable, warrants further investigation into the company’s working capital management and long-term investment strategies.