Cash Flow Statement
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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- Income Statement
- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Selected Financial Data since 2005
- Total Asset Turnover since 2005
- Price to Sales (P/S) since 2005
- Analysis of Debt
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Salesforce Inc., consolidated cash flow statement
US$ in millions
Based on: 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), 10-K (reporting date: 2020-01-31).
- Net Income
- Net income demonstrated considerable volatility over the periods analyzed. There was a substantial increase from 126 million USD in 2020 to 4072 million USD in 2021, followed by a decrease to 1444 million USD in 2022 and a further drop to 208 million USD in 2023. The income rebounded significantly again in 2024 and 2025, reaching 4136 million USD and 6197 million USD respectively.
- Depreciation and Amortization
- An upward trend was evident until 2024, with depreciation and amortization growing from 2135 million USD in 2020 to a peak of 3959 million USD in 2024, before decreasing slightly to 3477 million USD in 2025.
- Amortization of Costs Capitalized to Obtain Revenue Contracts
- This item consistently increased each year, rising steadily from 876 million USD in 2020 to 2095 million USD in 2025, indicating increasing capitalized costs being amortized to revenue.
- Stock-Based Compensation Expense
- There was a generally increasing trend in stock-based compensation expense reaching its peak in 2023 at 3279 million USD before experiencing a decline in 2024 and a partial recovery in 2025.
- Gains/Losses on Strategic Investments
- The company reported net gains in 2020 to 2022, although the magnitude of gains reduced significantly each year. From 2023 onwards, this turned into net losses with modest negative figures in 2023, 2024, and 2025.
- Working Capital Components
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Accounts receivable and costs capitalized to obtain contracts showed reductions in negatives, indicating possible improvements in collections and capitalization balance. Prepaid expenses and other assets, however, showed increasing negative values, possibly signaling rising prepaid costs or asset reductions.
Accounts payable and accrued expenses fluctuated, moving from positive values in earlier years to negative in 2024, then back positive in 2025, reflecting varying liabilities management.
Operating lease liabilities steadily decreased indicating a reduction in lease obligations over time.
Unearned revenue showed growth until 2022 with a peak at 2629 million USD, but decreased thereafter through 2025.
- Changes in Assets and Liabilities
- This figure consistently showed negative values with increasing magnitude, reflecting that net changes in working capital and other liabilities have reduced cash flow, with a notable peak negative of -2850 million USD in 2024.
- Cash Flow from Operations
- Net cash provided by operating activities increased steadily over the period, from 4331 million USD in 2020 to 13092 million USD in 2025, showing strong cash generation capability from core business.
- Investing Activities
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Business combinations and purchases of strategic investments fluctuated with a notable spike in net cash used for business combinations in 2022. Purchases of marketable securities generally reduced over time but spiked again in 2025.
Sales and maturities of marketable securities also varied, with sales peaking in 2022 and again in 2025, suggesting active portfolio management.
Capital expenditures remained relatively stable in the range around 650-800 million USD, indicating consistent investment in fixed assets.
Overall, net cash used in investing activities peaked in 2022 with a significant outflow (-14536 million USD), then decreased sharply, indicating less aggressive investing moves after 2022.
- Financing Activities
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Cash flows from financing activities were positive in the earlier years, peaking in 2022 at 7838 million USD, largely influenced by debt and stock-related transactions.
There was a shift to negative cash flows from financing starting in 2023, with increasingly higher outflows through 2025 driven by repurchases of common stock, repayments of debt, and dividend payments starting in 2025.
- Cash Position
- Cash and cash equivalents showed consistent growth over the six-year span, rising from 4145 million USD at end of 2020 to 8848 million USD by end of 2025, supported by strong operational cash flows despite variability in investing and financing cash flows.
- Exchange Rate Effects
- The effect of exchange rate changes on cash flow was relatively minor and fluctuated between small positive and negative amounts, indicating limited impact of foreign exchange on overall cash position.