CRM
Salesforce, Inc.

Salesforce, Inc.CRM

Technology · Software - Application
213.65USD
-3.94%
Nov 08, 2026
CRM overview ready
Enterprise AI Agent Platforms Integrating CRM and Workflow Automation
Salesforce is a large enterprise application-platform provider embedding AI agents, unified data, workflow automation, collaboration, integration, analytics, and CRM applications into customer-facing and employee workflows.
Primary theme is weakening
Customer Engagement & Marketing is weakening (+3.5pp vs SPY over 21 sessions; 4 of 12 members ahead of SPY).
No clear price read
Longer-term context reads damaged structure, with a near-term setup of pullback recovery.
Fair valuation
The price broadly reflects the cash the business actually produces, with upside and risk reasonably balanced.
Solid fundamentals
Free cash flow yield is strong.
Primary risk
High net debt levels.
Market Nov 6Filing Jul 31Price action Nov 7Research Oct 15

Conviction Level

PriceAction4.9BusinessPerformance5.0BusinessQuality8.0Valuation3.7ThemeMomentum3.0Mixed — Revenue is growing at a steady pace (+11% year over year). Reported earnings improved faster than operating income, so most of the improvement did not come from operations. — From filed financial statements. Describes the recent trajectory of the business, not the stock. 20 of the 100 Conviction points.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
vs SPY
+3.5pp
Theme return
−1.4%
Beating SPY
4 of 12
21 sessions to Nov 6, 2026 · Theme Leadership V2
Price
Loading price history…

Price Action

No clear price read
Longer-term context reads damaged structure, with a near-term setup of pullback recovery.
EntryConstructive

Structure is constructive on both timeframes without excessive extension — a reasonable entry location.

Key Financials

Market Cap
$175.8B
Avg Volume (60D)
9.3M
60 sessions
Revenue Growth YoY
+9.6%
FY2026 vs FY2025
Gross Margin
+77.3%
Trailing twelve months
Operating Margin
+19.9%
Trailing twelve months
Free Cash Flow Yield
+8.6%
Distance from 200DMA
+8.1%
Next Earnings
2026-12-02
P/E
18.2x
EV / Sales
4.6x
Market metrics as of Nov 6, 2026
Financial results for the period ended Jul 31, 2026
Filed balance-sheet data as of Jul 31, 2026

Business Performance

Mixed

Revenue is growing at a steady pace (+11% year over year). Reported earnings improved faster than operating income, so most of the improvement did not come from operations.

Latest reported: Q2 FY2027, ended Jul 31
Revenue growthGrowing
+11%
$11.3B in Q2 FY2027 · YoY
YoY growth, last 4 quarters
  1. +8.6%
  2. +12%
  3. +13%
  4. +11%
Earnings growthAccelerating
+119%
Diluted EPS $4.29 vs $1.96 a year earlier · GAAP
Diluted EPS YoY (GAAP), last 4 quarters
  1. +39%
  2. +18%
  3. +52%
  4. +119%
Operating marginContracting
20.6%
-2.2 pp YoY · gross margin 76.7% (-1.4 pp)
Earnings improved more than operations did

Business Quality

8.0 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

Two of the three valuation perspectives say fair; intrinsic is the dissenting view.
Salesforce, Inc. has a Fair valuation stance because the price broadly reflects the cash the business actually produces, with upside and risk reasonably balanced.

Company Research

Thesis
Salesforce is a large enterprise application-platform provider embedding AI agents, unified data, workflow automation, collaboration, integration, analytics, and CRM applications into customer-facing and employee workflows.
Opportunity
Moderate opportunity
Enterprise spending to deploy governed AI agents that use proprietary business context, invoke software tools, and automate multi-step customer, sales, service, employee, and back-office workflows.
Key risk
High net debt levels.

Economic classification

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Business & Markets

Technology · Software - Application
What they do

Salesforce provides customer relationship management (CRM) technology services that connect companies with their customers globally, embedding AI agents and workflow automation into enterprise applications.

How it earns

Primarily subscription-based revenue from software-as-a-service (SaaS) offerings.

Products & services
Agentforce
Agentforce Sales
Agentforce Service
Customers & end markets
Enterprises across industries
Sales and service teams
Market position

Market leader in enterprise CRM and AI-embedded application platforms.

Demand drivers
Low cyclicality

Driven by recurring subscription revenue and enterprise IT spending that tends to be stable.

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