Stock Analysis on Net
Stock Analysis on Net

Salesforce Inc. (NYSE:CRM)

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Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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Salesforce Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Jul 31, 2026 Apr 30, 2026 Jan 31, 2026 Oct 31, 2025 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
Accounts payable, accrued expenses and other liabilities
Operating lease liabilities, current
Unearned revenue
Slack Convertible Notes
Debt, current
Current liabilities
Noncurrent debt, excluding current portion
Noncurrent operating lease liabilities
Other noncurrent liabilities
Noncurrent liabilities
Total liabilities
Common stock
Treasury stock, at cost
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings
Stockholders’ equity
Total liabilities and stockholders’ equity

Based on: 10-Q (reporting date: 2026-07-31), 10-Q (reporting date: 2026-04-30), 10-K (reporting date: 2026-01-31), 10-Q (reporting date: 2025-10-31), 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).


The capital structure exhibits a significant shift in composition over the analyzed period, transitioning from a predominantly equity-funded model to one with substantially higher leverage in the final quarters. While total liabilities remained relatively stable between 31% and 41% for several years, a sharp increase is observed starting in January 2026, where liabilities peaked at 67.91% of total liabilities and stockholders' equity.

Debt and Long-Term Liabilities
Noncurrent debt remained consistent, generally fluctuating between 8% and 12% of the total balance sheet from 2020 through 2025. However, a dramatic escalation occurred in January 2026, with noncurrent debt rising to 36.82% and remaining high at 35.84% by July 2026. This surge is the primary driver behind the overall increase in total liabilities during this period.
Stockholders' Equity and Treasury Stock
Stockholders' equity maintained a strong position between 59% and 68% for the majority of the timeline but experienced a steep decline beginning in January 2026, falling to 32.09% and subsequently recovering slightly to 35.01% by July 2026. This contraction is heavily influenced by a massive increase in treasury stock acquisitions. Treasury stock, measured as a percentage of total liabilities and equity, expanded from -1.90% in January 2023 to a peak of -51.58% in January 2026, indicating an aggressive share buyback program.
Unearned Revenue and Operational Liabilities
Unearned revenue represents a significant and cyclical portion of current liabilities, typically ranging from 11% to 21%. A recurring seasonal pattern is evident, with peaks consistently occurring around January of each year, suggesting a concentration of annual contract renewals or upfront payments at the start of the calendar year. Accounts payable and other accrued liabilities remained relatively stable, fluctuating within a narrow band of 3.3% to 7.4%.
Profitability and Retained Earnings
A consistent upward trend is observed in retained earnings, which grew from 3.66% in April 2020 to 24.73% by July 2026. This steady growth indicates a continuous accumulation of profits over the observed period, which partially offset the reduction in total equity caused by share repurchases.

In summary, the financial profile evolved from a low-leverage position characterized by high equity and organic growth in retained earnings to a highly leveraged position by 2026. This transition was marked by a simultaneous surge in long-term debt and an intensification of treasury stock repurchases, fundamentally altering the company's risk profile and capital allocation strategy.