Salesforce Inc. (NYSE:CRM)

The analysis of the financial data over the six-year period reveals several notable trends and shifts across key asset categories as a percentage of total assets.

Liquidity and Current Assets

Cash and cash equivalents fluctuated moderately, rising from 7.52% in 2020 to a peak of 9.34% in 2021, followed by a decline to 5.74% in 2022 and then a gradual recovery to 8.6% by 2025. Marketable securities exhibited a similar pattern with an increase in 2021 (8.7%) and subsequent decreases to 5.04% in 2025, indicating a reduction in liquid investments relative to total assets in recent years.

Accounts receivable, net, showed a generally stable to slightly increasing trend, moving from 11.2% in 2020 to 11.61% in 2025, suggesting consistent credit sales or collection trends. Costs capitalized to obtain revenue contracts, both current and noncurrent, remained relatively stable with a slight increase in current portion from 1.68% to 1.91%, reflecting ongoing investment in contract-related costs.

Prepaid expenses and other current assets decreased initially from 1.66% to 1.18% by 2022 but then increased to 1.73% by 2025, indicating some volatility but a modest upward adjustment towards the end of the period.

The aggregate current assets percentage demonstrated significant variation, notably peaking at 33.01% in 2021, before falling sharply to 24% in 2022 and stabilizing around 29% in later years, reflecting underlying shifts in liquid and short-term assets composition.

Property, Equipment, and Lease Assets

Property and equipment, net, showed a consistent decline from 4.31% in 2020 to 3.14% in 2025, indicating either asset disposals, depreciation, or a relative reduction of physical assets compared to total asset growth. Operating lease right-of-use assets, net, declined steadily from 5.51% to 2.1%, which might reflect lease terminations or shifts in lease accounting policies, reducing leased asset representation on the balance sheet.

Strategic and Intangible Assets

Strategic investments increased notably in 2021 to 5.9% but declined to approximately 4.7% by 2025, suggesting a brief period of increased strategic investment activity which was later scaled back. Goodwill represented the largest single asset category with significant volatility: it decreased from 45.59% in 2020 to 39.69% in 2021, then sharply increased to over 50% in 2022, before slightly decreasing and stabilizing around 49% through 2025. This pattern may indicate acquisitions or impairment events affecting goodwill.

Intangible assets acquired through business combinations peaked at 9.43% in 2022 but declined steadily thereafter to 4.3% by 2025, which could reflect amortization or asset impairment. Deferred tax assets and other assets rose markedly from 1.05% to 4.63%, showing growing recognition of deferred tax benefits or other long-term assets.

Overall Asset Composition

Noncurrent assets constituted the majority of total assets throughout the period, ranging from a low of 66.99% in 2021 to a high of 76% in 2022 and stabilizing around 71% by 2025. This indicates a consistent emphasis on long-term asset investment compared to current assets.

The total assets percentage remained constant at 100% as expected, and the observed shifts in individual asset classes reflect strategic reallocation between liquidity, property, intangible assets, and investments over time.

In summary, the data indicates a company managing a significant portion of assets in goodwill and intangible assets, with fluctuating liquidity levels and decreasing physical asset concentrations. The trends highlight strategic balancing between current and noncurrent assets, with indications of notable acquisition activity and evolving investment in contract-related costs and deferred tax assets.