Salesforce (CRM) Fair Value & DCF

CRM$213.48-1.46 -0.68%
Market cap$175.69BEnterprise value$220.34BRevenue (TTM)$43.94BMarket positionTop 25%

CRM fair value $468.12. Price $213.48. Price is 54% below fair value.

Worked example

Cash-flow value. Starting free cash flow is $18.41 a share. Year 1 is the first earnings forecast, so it has no growth rate of its own. The forecast then reaches 19.95%, and that pace fades in a straight line to 3% terminal growth by year 10. The discount rate is 11.11% (beta 1.24). It is beta-adjusted and capped at 12%. The cash-flow value is $480.70 a share.

Earnings value. Next-twelve-months earnings per share of $15.18 times 30.00 is $455.53. The peer group is Software - Application, 25 companies worth at least $10 billion. Peer median 33.4. Own 10-year median 59.6. The multiple used is the average of the two, kept between 8 and 30, which is 30.00.

Fair value is the average of the two, $468.12. The price is $213.48, which is 54.4% below fair value.

Salesforce (CRM) Fair Value & DCF

CRM price $213.48 -1.46 -0.68%

Ticker
CRM
Price
$213.48
Change
-1.46 -0.68%
Market cap
$175.69B
P/E
18.01
Forward P/E
13.92
Dividend yield
0.76%
Beta
1.24
Sector
Technology
Industry
Software - Application
Stocklytics score
74
Value
72
Quality
62
Growth
87

Stocklytics score rationale: value 72, quality 62, growth 87.

AI Score 75. Salesforce, Inc. has a solid market cap of $186.91 billion and a strong gross profit margin of approximately 77.3%

Fair value

CRM fair value $468.12. Price $213.48. Price is 54% below fair value.

Below fair value, and cheaper than usual. A larger discount than on more than 99% of days in the past 5 years.

Fair value is an estimate of what one share is worth if future cash flows arrive as modeled. It is not a forecast of the share price.

Fair value blends a 10-year DCF and an earnings multiple: the average of the DCF value and an earnings value from next-twelve-months EPS times 30.0, a blend of the Software - Application median (33.4) and the stock's own 10-year median (59.6). How we calculate it →

Compare CRM

Earnings

DateEPS actualEPS estimateRevenueRevenue estimate
2026-12-02—3.45—11.46B
2026-08-265.903.2711.35B11.33B
2026-05-273.883.1311.13B11.05B
2026-02-253.813.0511.20B11.19B
2025-12-033.252.8610.26B10.27B
2025-09-032.912.7810.24B10.14B
2025-05-282.582.559.83B9.76B
2025-02-262.782.619.99B10.04B
2024-12-032.412.449.44B9.37B
2024-08-282.562.369.32B9.22B
2024-05-292.442.389.13B9.15B
2024-02-282.292.269.29B9.22B
2023-11-292.112.068.72B8.71B
2023-08-302.121.908.60B8.53B
2023-05-311.691.618.25B8.18B
2023-03-011.681.368.38B7.99B
2022-11-301.401.217.84B7.83B
2022-08-241.191.027.72B7.70B
2022-05-310.980.947.41B7.38B
2022-03-010.840.747.33B7.24B
2021-11-301.270.926.86B7.24B
2021-08-251.480.926.34B5.43B
2021-05-271.210.885.96B5.89B
2021-02-251.040.755.82B5.68B
2020-12-011.740.755.42B4.29B
2020-08-251.440.675.15B4.28B
2020-05-280.700.694.87B4.80B
2020-02-250.660.564.85B4.12B
2019-12-030.750.664.51B3.97B
2019-08-220.660.474.00B2.85B
2019-06-040.930.613.74B2.45B
2019-03-040.700.553.60B2.83B
2018-11-270.610.503.39B2.78B
2018-08-290.530.473.28B2.17B
2018-05-290.740.463.01B1.87B
2018-02-280.350.332.85B2.78B
2017-11-210.390.372.68B2.56B
2017-08-220.330.322.56B2.50B
2017-05-180.280.262.39B2.23B
2017-02-280.280.252.29B2.09B

Dividends

Yield 0.81%. Payout ratio 15.68%. Frequency Quarterly.

Safety score 78/100 · Safe. Payout ratio is 16% of earnings. Dividends use less than 40% of free cash flow. Dividends were paid in 3 separate years. Yield is 0.8%, which is modest.

Ex-dateDividendRecordPaymentFrequency
2026-09-17$0.442026-09-172026-10-08Quarterly
2026-06-11$0.442026-06-112026-07-02Irregular
2026-04-09$0.442026-04-092026-04-23Quarterly
2025-12-18$0.422025-12-182026-01-08Quarterly
2025-09-17$0.422025-09-172025-10-09Quarterly
2025-06-18$0.422025-06-182025-07-10Irregular
2025-04-10$0.422025-04-102025-04-24Quarterly
2024-12-18$0.402024-12-182025-01-09Quarterly
2024-09-18$0.402024-09-182024-10-08Irregular
2024-07-09$0.402024-07-092024-07-25Quarterly
2024-03-13$0.402024-03-142024-04-11Quarterly

Insider trades

DateInsiderActionSharesPriceValue
2026-10-22Harris ParkerBuy1.78K——
2026-10-22Harris ParkerSell886$250.29221.76K
2026-10-22Harris ParkerSell1.78K——
2026-09-22Harris ParkerBuy1.27K——
2026-09-22Harris ParkerSell631$233.28147.20K
2026-09-22Harris ParkerBuy1.27K——
2026-09-22Harris ParkerSell630$233.28146.97K
2026-09-22Harris ParkerSell1.27K——
2026-09-22Harris ParkerSell1.27K——
2026-09-22Washington Robin LBuy1.83K——
2026-09-22Washington Robin LSell908$233.28211.82K
2026-09-22Washington Robin LSell1.83K——
2026-09-22Niles SabastianBuy1.02K——
2026-09-22Niles SabastianBuy1.01K——
2026-09-22Niles SabastianSell563$233.28131.34K
2026-09-22Niles SabastianSell562$233.28131.10K
2026-09-22Niles SabastianSell1.02K——
2026-09-22Niles SabastianSell1.01K——
2026-09-22Milano MiguelBuy1.53K——
2026-09-22Milano MiguelSell601$233.28140.20K
2026-09-22Milano MiguelBuy1.01K——
2026-09-22Milano MiguelSell400$233.2893.31K
2026-09-22Milano MiguelSell1.53K——
2026-09-22Milano MiguelSell1.01K——
2026-09-18Kirk David BlairBuy4.18K$239.33999.45K
2026-09-15Niles SabastianSell8.87K$255.652.27M
2026-09-15Milano MiguelSell6.54K$255.651.67M
2026-09-04Conway CraigSell1.42K$260.50369.38K
2026-09-04Conway CraigSell3.08K$260.66803.36K
2026-08-28Harris ParkerSell16.00K——
2026-08-22Milano MiguelBuy1.66K——
2026-08-22Milano MiguelSell678$209.17141.82K
2026-08-22Milano MiguelBuy14.12K——
2026-08-22Milano MiguelSell1.66K——
2026-08-22Niles SabastianBuy1.66K——
2026-08-22Niles SabastianSell920$209.17192.44K
2026-08-22Niles SabastianSell1.66K——
2026-08-22SACHIN J. MEHRABuy441——
2026-08-22SACHIN J. MEHRASell441——
2026-08-22MUNOZ OSCARBuy441——
2026-08-22MUNOZ OSCARSell441——
2026-08-22KROES NEELIEBuy441——
2026-08-22KROES NEELIESell67$209.1714.01K
2026-08-22KROES NEELIESell441——
2026-08-22ALBER LAURABuy441——
2026-08-22ALBER LAURASell441——
2026-08-22Roos John VictorBuy441——
2026-08-22Roos John VictorSell441——
2026-08-22Kirk David BlairBuy441——
2026-08-22Kirk David BlairSell441——
2026-08-22Conway CraigBuy441——
2026-08-22Conway CraigSell441——
2026-08-22DONALD ARNOLD WBuy441——
2026-08-22DONALD ARNOLD WSell441——
2026-08-22Chang AmyBuy441——
2026-08-22Chang AmySell441——
2026-07-22Tallapragada SrinivasBuy1.79K——
2026-07-22Tallapragada SrinivasSell886$163.00144.42K
2026-07-22Tallapragada SrinivasSell1.79K——
2026-07-22Harris ParkerBuy1.79K——
2026-07-22Harris ParkerSell886$163.00144.42K
2026-07-22Harris ParkerSell1.79K——
2026-06-22Tallapragada SrinivasBuy1.83K——
2026-06-22Tallapragada SrinivasSell908$150.12136.31K
2026-06-22Tallapragada SrinivasBuy1.52K——
2026-06-22Tallapragada SrinivasSell756$150.12113.49K
2026-06-22Tallapragada SrinivasSell1.83K——
2026-06-22Tallapragada SrinivasSell1.52K——
2026-06-22Niles SabastianBuy1.02K——
2026-06-22Niles SabastianBuy1.02K——
2026-06-22Niles SabastianSell563$150.1284.52K
2026-06-22Niles SabastianSell562$150.1284.37K
2026-06-22Niles SabastianSell1.02K——
2026-06-22Niles SabastianSell1.02K——
2026-06-22Washington Robin LBuy1.83K——
2026-06-22Washington Robin LSell908$150.12136.31K
2026-06-22Washington Robin LSell1.83K——
2026-06-22Harris ParkerBuy1.27K——
2026-06-22Harris ParkerSell631$150.1294.73K
2026-06-22Harris ParkerBuy1.27K——
2026-06-22Harris ParkerSell630$150.1294.58K
2026-06-22Harris ParkerSell1.27K——
2026-06-22Harris ParkerSell1.27K——
2026-06-22Milano MiguelBuy1.52K——
2026-06-22Milano MiguelSell601$150.1290.22K
2026-06-22Milano MiguelBuy1.02K——
2026-06-22Milano MiguelSell400$150.1260.05K
2026-06-22Milano MiguelSell1.52K——
2026-06-22Milano MiguelSell1.02K——
2026-06-22Wanger GuyBuy49.76K——
2026-06-15Wanger GuyOther0——
2026-05-22ALBER LAURABuy442——
2026-05-22ALBER LAURASell442——
2026-05-22Chang AmyBuy442——
2026-05-22Chang AmySell442——
2026-05-22Conway CraigBuy442——
2026-05-22Conway CraigSell442——
2026-05-22DONALD ARNOLD WBuy442——
2026-05-22DONALD ARNOLD WSell442——
2026-05-22Kirk David BlairBuy442——

Institutional holders

Latest filed quarter: Q2 2026.

Institutions holding: 2.67K, holders -187 vs prior quarter. Ownership 81.45%.

HolderSharesChangeChange %Value
BLACKROCK, INC.72.75M-6.94M-8.71%11.40B
VANGUARD CAPITAL MANAGEMENT LLC52.07M-7.27M-12.25%8.16B
STATE STREET CORP44.87M-4.08M-8.34%7.05B
MORGAN STANLEY23.31M-8.36M-26.41%3.65B
GEODE CAPITAL MANAGEMENT, LLC19.81M-2.41M-10.85%3.10B
HARRIS ASSOCIATES L P16.15M1.23M+8.27%2.53B
VANGUARD PORTFOLIO MANAGEMENT LLC16.10M-3.31M-17.07%2.52B
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP13.28M619.39K+4.89%2.08B
BANK OF AMERICA CORP /DE/12.22M493.30K+4.21%1.91B
SUSQUEHANNA INTERNATIONAL GROUP, LLP11.93M5.45M+84.14%1.87B
CAPITAL RESEARCH GLOBAL INVESTORS11.74M-1.96M-14.32%1.84B
JPMORGAN CHASE & CO10.44M5.42M+107.92%1.65B
JANE STREET GROUP, LLC10.36M-730.90K-6.59%1.62B
SANDERS CAPITAL, LLC9.62M83.05K+0.87%1.51B
PRICE T ROWE ASSOCIATES INC /MD/9.42M2.80M+42.29%1.48B
FMR LLC9.38M-504.74K-5.11%1.47B
JANE STREET GROUP, LLC9.21M-1.88M-16.94%1.44B
NORTHERN TRUST CORP8.99M-1.25M-12.18%1.41B
NORGES BANK8.84M8.84MNew1.39B
CAPITAL WORLD INVESTORS8.69M-8.02M-48.02%1.36B
CAPITAL INTERNATIONAL INVESTORS8.15M-4.47M-35.43%1.28B
UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC7.95M-917.30K-10.34%1.25B
SUSQUEHANNA INTERNATIONAL GROUP, LLP7.75M1.27M+19.61%1.21B
FIRST EAGLE INVESTMENT MANAGEMENT, LLC7.31M1.17M+19.14%1.14B
CITADEL ADVISORS LLC7.07M3.12M+78.80%1.11B

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