Company Valuation: Salesforce, Inc.

Data adjusted to current consolidation scope
Fiscal Period: January 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 229,141 166,458 272,095 327,007 198,916 213,346 - -
Change - -27.36% 63.46% 20.18% -39.17% 7.25% - -
Enterprise Value (EV) 1 229,196 163,369 267,327 321,408 203,790 238,672 230,159 223,754
Change - -28.72% 63.63% 20.23% -36.59% 17.12% -3.57% -2.78%
P/E 157x 800x 66.9x 53.7x 27.2x 24.9x 26.4x 21.7x
PBR 3.82x 2.86x 4.64x 5.36x 3.41x 5.31x 4.73x 4.33x
PEG - -9.3x 0x 1x 1.2x 0.7x -4.5x 1x
Capitalization / Revenue 8.65x 5.31x 7.81x 8.63x 4.79x 4.61x 4.2x 3.83x
EV / Revenue 8.65x 5.21x 7.67x 8.48x 4.91x 5.16x 4.53x 4.02x
EV / EBITDA 27.8x 18.3x 21x 22.4x 12.7x 12.6x 11.3x 9.7x
EV / EBIT 46.3x 23.1x 25.1x 25.7x 14.4x 15x 12.9x 11.2x
EV / FCF 43.4x 25.9x 28.1x 25.8x 14.2x 15.9x 14x 12.2x
FCF Yield 2.31% 3.86% 3.55% 3.87% 7.07% 6.28% 7.14% 8.22%
Dividend per Share 2 - - - 1.6 1.664 1.737 1.8 1.926
Rate of return - - - 0.47% 0.78% 0.67% 0.69% 0.74%
EPS 2 1.48 0.21 4.2 6.36 7.8 10.42 9.81 11.95
Distribution rate - - - 25.2% 21.3% 16.7% 18.3% 16.1%
Net sales 1 26,492 31,352 34,857 37,895 41,525 46,265 50,813 55,648
EBITDA 1 8,249 8,903 12,722 14,324 16,100 18,930 20,371 23,079
EBIT 1 4,951 7,068 10,632 12,498 14,156 15,884 17,802 19,912
Net income 1 1,444 208 4,136 6,197 7,457 8,731 8,119 9,667
Net Debt 1 55 -3,089 -4,768 -5,599 4,874 25,326 16,813 10,407
Reference price 2 232.63 167.97 281.09 341.70 212.29 259.23 259.23 259.23
Nbr of stocks (in thousands) 985,000 991,000 968,000 957,000 937,000 823,000 - -
Announcement Date 3/1/22 3/1/23 2/28/24 2/26/25 2/25/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
25.37x5.25x12.83x0.66% 218B
-496.85x34.83x143.08x-.--% 101B
-16.34x7.2x12.31x-.--% 46.64B
63.99x6.19x24.59x-.--% 18.4B
63.6x6.04x20.08x-.--% 15.25B
214.05x11.69x29.98x-.--% 12.86B
-40.41x142.59x-48x - 6.26B
30.38x7.24x15.91x-.--% 6.03B
18.24x3.66x9.78x-.--% 5.37B
Average -15.33x 24.97x 24.51x 0.08% 47.75B
Weighted average by Cap. -94.58x 14.71x 43.87x 0.34%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield