Company Valuation: Salesforce, Inc.

Data adjusted to current consolidation scope
Fiscal Period: January 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 229,141 166,458 272,095 327,007 198,916 193,150 - -
Change - -27.36% 63.46% 20.18% -39.17% -2.9% - -
Enterprise Value (EV) 1 229,196 163,369 267,327 321,408 203,790 218,903 210,432 203,827
Change - -28.72% 63.63% 20.23% -36.59% 7.42% -3.87% -3.14%
P/E 157x 800x 66.9x 53.7x 27.2x 22.5x 24x 19.5x
PBR 3.82x 2.86x 4.64x 5.36x 3.41x 4.75x 4.25x 3.88x
PEG - -9.3x 0x 1x 1.2x 0.7x -3.71x 0.8x
Capitalization / Revenue 8.65x 5.31x 7.81x 8.63x 4.79x 4.17x 3.8x 3.47x
EV / Revenue 8.65x 5.21x 7.67x 8.48x 4.91x 4.73x 4.14x 3.66x
EV / EBITDA 27.8x 18.3x 21x 22.4x 12.7x 11.6x 10.3x 8.85x
EV / EBIT 46.3x 23.1x 25.1x 25.7x 14.4x 13.8x 11.8x 10.2x
EV / FCF 43.4x 25.9x 28.1x 25.8x 14.2x 14.6x 12.8x 11.1x
FCF Yield 2.31% 3.86% 3.55% 3.87% 7.07% 6.85% 7.82% 9.05%
Dividend per Share 2 - - - 1.6 1.664 1.726 1.8 1.926
Rate of return - - - 0.47% 0.78% 0.74% 0.77% 0.82%
EPS 2 1.48 0.21 4.2 6.36 7.8 10.45 9.773 12.03
Distribution rate - - - 25.2% 21.3% 16.5% 18.4% 16%
Net sales 1 26,492 31,352 34,857 37,895 41,525 46,297 50,795 55,736
EBITDA 1 8,249 8,903 12,722 14,324 16,100 18,870 20,366 23,028
EBIT 1 4,951 7,068 10,632 12,498 14,156 15,892 17,820 19,982
Net income 1 1,444 208 4,136 6,197 7,457 8,756 8,080 9,675
Net Debt 1 55 -3,089 -4,768 -5,599 4,874 25,753 17,282 10,677
Reference price 2 232.63 167.97 281.09 341.70 212.29 234.69 234.69 234.69
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.86x3.6x12.56x3.04% 210B
22.46x4.73x11.6x0.74% 193B
-602.19x42.83x175.97x-.--% 124B
-134.17x18.65x103.28x-.--% 120B
14.77x1.61x8.44x3.25% 119B
13.47x2.43x9.22x6.1% 78.1B
19.46x5.19x12.74x2.88% 58.18B
-17.53x7.42x12.62x-.--% 49.43B
22.77x1.89x11.94x1.37% 44.75B
Average -71.01x 9.82x 39.82x 1.93% 110.71B
Weighted average by Cap. -78.25x 10.40x 42.93x 1.88%

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