Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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- Cash Flow Statement
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value (EV)
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Current Ratio since 2005
- Debt to Equity since 2005
- Price to Earnings (P/E) since 2005
- Price to Book Value (P/BV) since 2005
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Salesforce Inc., consolidated income statement (quarterly data)
US$ in millions
Based on: 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), 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).
- Revenue Trends
- Revenues steadily increased from 3,737 million USD in April 2019 to a peak of 10,259 million USD in October 2025. This upward trend was primarily driven by growth in subscription and support revenue, which rose from 3,496 million USD to 9,726 million USD over the same period. Professional services and other revenues saw a more moderate and fluctuating increase, starting at 241 million USD and ending near 533 million USD, with some periods of decline.
- Cost Structure and Gross Profit
- Cost of revenues increased in line with total revenues, from 914 million USD to roughly 2,255 million USD. The gross profit showed consistent growth, rising from 2,823 million USD in April 2019 to over 8,000 million USD by October 2025, indicating an improvement in revenue generation relative to direct costs. However, gross profit margins fluctuated modestly reflecting the rising costs in subscription and professional services.
- Operating Expenses
- Operating expenses increased over time, starting at 2,613 million USD and reaching 5,816 million USD by October 2025. Research and development expenses grew steadily, reflecting ongoing investment, though some fluctuations occurred after early 2022 with a peak around 1,460 million USD mid-2025. Sales and marketing expenses were the largest component, increasing substantially from 1,697 million USD to around 3,456 million USD, with some variability. General and administrative expenses also rose but at a more moderate rate, reaching 667 million USD at the end of the period. Restructuring costs appeared mainly from early 2023 onward, with significant outlays at various points, peaking around 828 million USD, impacting overall expenses.
- Operating Income and Profitability
- Income from operations fluctuated but generally improved from 210 million USD to values consistently above 1,800 million USD from late 2023 onward, peaking near 2,332 million USD by late 2024. This trend reflects growing profitability despite increased operating expenses. There were some volatile periods, including negative operating income in early 2020 and late 2021 to early 2022 but recovery followed. Gains and losses from strategic investments showed considerable volatility, with large positive spikes around mid-2020 and late 2020, and some negative impacts in later periods, including significant losses in late 2022 and early 2023. Other income and expenses were relatively minor but contributed positively by the end of the timeline.
- Income Before Taxes and Net Income
- Income before income taxes grew overall, showing variability but increasing from 482 million USD to above 2,500 million USD towards the end of the period. Income tax provisions, however, were highly variable and at times provided benefits or charges that impacted net income sharply. Net income showed a rollercoaster pattern with losses incurred early in the period but then followed by strong positive results, including a peak of 2,625 million USD in mid-2020 and generally increasing net income towards the end, reaching over 2,000 million USD. This variability highlights the impact of tax effects and strategic gains/losses on the bottom line.
- Summary
- Overall, the financial data show strong growth in revenues and gross profit, supported by increasing spending on R&D and sales and marketing to fuel growth. Operating income and net income trends indicate a company moving towards increasingly robust profitability, despite episodic losses related to restructuring and other unusual items. The results underline effective management of core subscription revenues, while maintaining investments in growth initiatives and managing costs amid fluctuating gains on investments and tax effects.