Company Valuation: Salesforce, Inc.

Data adjusted to current consolidation scope
Fiscal Period: January 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 2,29,141 1,66,458 2,72,095 3,27,007 1,98,916 1,88,936 - -
Change - -27.36% 63.46% 20.18% -39.17% -5.02% - -
Enterprise Value (EV) 1 2,29,196 1,63,369 2,67,327 3,21,408 2,03,790 2,14,689 2,06,218 1,99,613
Change - -28.72% 63.63% 20.23% -36.59% 5.35% -3.95% -3.2%
P/E 157x 800x 66.9x 53.7x 27.2x 22x 23.5x 19.1x
PBR 3.82x 2.86x 4.64x 5.36x 3.41x 4.65x 4.15x 3.79x
PEG - -9.3x 0x 1x 1.2x 0.6x -3.64x 0.8x
Capitalization / Revenue 8.65x 5.31x 7.81x 8.63x 4.79x 4.08x 3.72x 3.39x
EV / Revenue 8.65x 5.21x 7.67x 8.48x 4.91x 4.64x 4.06x 3.58x
EV / EBITDA 27.8x 18.3x 21x 22.4x 12.7x 11.4x 10.1x 8.67x
EV / EBIT 46.3x 23.1x 25.1x 25.7x 14.4x 13.5x 11.6x 9.99x
EV / FCF 43.4x 25.9x 28.1x 25.8x 14.2x 14.3x 12.5x 10.8x
FCF Yield 2.31% 3.86% 3.55% 3.87% 7.07% 6.98% 7.98% 9.24%
Dividend per Share 2 - - - 1.6 1.664 1.726 1.8 1.926
Rate of return - - - 0.47% 0.78% 0.75% 0.78% 0.84%
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 2 232.63 167.97 281.09 341.70 212.29 229.57 229.57 229.57
Nbr of stocks (in thousands) 9,85,000 9,91,000 9,68,000 9,57,000 9,37,000 8,23,000 - -
Announcement Date 01/03/22 01/03/23 28/02/24 26/02/25 25/02/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.6x3.56x12.43x3.08% 21TCr
21.99x4.64x11.38x0.76% 19TCr
-599.1x42.61x175.06x-.--% 12TCr
-133.59x18.57x102.82x-.--% 12TCr
13.62x1.52x7.99x3.52% 11TCr
13.27x2.4x9.06x6.19% 7.74TCr
19.25x5.15x12.66x2.92% 5.76TCr
-17.04x7.34x12.48x-.--% 4.8TCr
22.15x1.83x11.6x1.4% 4.37TCr
Average -70.87x 9.74x 39.50x 1.99% 10.87TCr
Weighted average by Cap. -79.34x 10.42x 43.04x 1.93%

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