CRM Salesforce Fair Indicative confidence

Collected by Financial Data Collector. Public sources only. Figures fetched Nov 11, 2026, 5:24 AM MST (America/Phoenix) / Nov 11, 2026, 7:24 AM ET. Every figure is sourced below; anything not found is marked n/a (not found) — no numbers were invented.

Price and trading

Shares, cash, debt, beta

Cash / debt detail:

• stockanalysis “Cash & Cash Equivalents”: $11.40B (stats updated Nov 11, 2026)
• Yahoo Finance financialData.totalCash: $11.40B (typically cash & short-term investments; may be narrower than SA’s cash + marketable securities)
• stockanalysis total debt: $42.38B
• Yahoo financialData.totalDebt: $42.38B (agrees with stockanalysis)
• stockanalysis net cash (debt): -$30.97B → net debt $30.97B [consistent with SA EV vs market cap]
• Yahoo totalCash − totalDebt: -$30.97B → net debt $30.97B (may differ from SA if cash definitions differ)

TTM financials

stockanalysis TTM FCF (OCF − capex): $15.15B (OCF $15.75B + capex -$596.00M = $15.15B). Yahoo financialData.freeCashflow: $17.73B — this often matches stockanalysis levered FCF, not OCF−capex. Use OCF−capex for a standard FCF DCF unless you explicitly want levered FCF.

Recent historical annual figures

Fiscal year calendar: February - January. Figures in USD from stockanalysis.com financials / cash-flow pages (S&P Global Market Intelligence; source pages fetched Nov 11, 2026, 5:24 AM MST (America/Phoenix)). Values originally displayed in millions.

Note: Annual EBITDA is not published as a separate line on the free income-statement page, so the OpInc + D&A figure is an approximation (does not add other non-cash items). TTM EBITDA above is the source-reported figure.

Consensus estimates and growth

Yahoo Finance earningsTrend (cross-check; periods as labeled by Yahoo):

Caution: Yahoo’s “forward P/E” and forwardEps sometimes correspond to FY2 / a later year, not FY1. stockanalysis “Forward PE” is generally price / FY1 consensus EPS. Do not mix them. Also, for names that just reported, Yahoo’s 0q/0y rows can lag the print.

Current multiples

Primary set is stockanalysis (S&P GMI), which is internally consistent with that source’s price, market cap, EV, and TTM/FY1 figures (stats updated Nov 11, 2026, forecast updated Nov 10, 2026). Computed cross-checks use Yahoo last close $213.48 and Yahoo market cap $175.69B.

Earnings date

stockanalysis: next confirmed: Wednesday, December 2, 2026 after market close (stats updated Nov 11, 2026); Yahoo Finance calendarEvents: 2026-12-02 (Yahoo: not marked as estimate); Yahoo consensus for that report: EPS 3.45 (low 3.39, high 3.85); revenue $11.46B (low $11.35B, high $11.51B)

Notable recent news

Headlines from Yahoo Finance news search, fetched Nov 11, 2026, 7:24 AM ET. These are the source’s recent items (not a complete news file) and have not been independently verified beyond the headline list.

• Nov 11, 2026, 7:00 AM ET — CX Dive: CX vendor consolidation: A wake-up call for CX leaders
• Nov 11, 2026, 5:15 AM ET — Verdict: Mercor raises $750m to expand AI evaluation tools for enterprises
• Nov 10, 2026, 5:13 PM ET — Trefis: What Are ServiceNow Stock Bears Missing?
• Nov 10, 2026, 4:30 PM ET — Business Wire: Salesforce Announces Date of Third Quarter Fiscal 2027 Earnings Release and Webcast
• Nov 10, 2026, 3:10 PM ET — Simply Wall St.: Salesforce And 2 Other AI Stocks To Watch
• Nov 10, 2026, 3:02 PM ET — 24/7 Wall St.: ServiceNow Just Dropped 30% in a Month: Stay the Course, or Just Stay Away?

Missing / not available from public sources used

None of the requested core fields were missing from the public sources used.

Forward EBITDA consensus: n/a (not found) on the free stockanalysis and Yahoo modules used.

Sources

• Yahoo Finance quoteSummary API (price, summaryDetail, defaultKeyStatistics, financialData, calendarEvents, earningsTrend, incomeStatementHistory): https://query2.finance.yahoo.com/v10/finance/quoteSummary/CRM — fetched Nov 11, 2026, 5:24 AM MST (America/Phoenix) / Nov 11, 2026, 7:24 AM ET
• Yahoo Finance chart API (pre/post included) close/pre-market cross-check: https://query1.finance.yahoo.com/v8/finance/chart/CRM — fetched Nov 11, 2026, 5:24 AM MST (America/Phoenix)
• stockanalysis.com statistics (S&P Global Market Intelligence): https://stockanalysis.com/stocks/crm/statistics/ — stats updated Nov 11, 2026, fetched Nov 11, 2026, 5:24 AM MST (America/Phoenix)
• stockanalysis.com forecast (S&P Global Market Intelligence): https://stockanalysis.com/stocks/crm/forecast/ — forecast updated Nov 10, 2026, fetched Nov 11, 2026, 5:24 AM MST (America/Phoenix)
• stockanalysis.com financials & cash-flow statement pages: https://stockanalysis.com/stocks/crm/financials/ and .../financials/cash-flow-statement/ — fetched Nov 11, 2026, 5:24 AM MST (America/Phoenix)
• Yahoo Finance news search: https://query1.finance.yahoo.com/v1/finance/search?q=CRM — fetched Nov 11, 2026, 5:24 AM MST (America/Phoenix)
• 10-year Treasury (for WACC context): 4.98% on Nov 10, 2026 (latest; Nov 11 is Veterans Day and the Treasury auction/bond market is closed). Source: https://home.treasury.gov daily par yield curve, November 2026 view.

• Risk-free: 10Y UST 5.0% (Nov 10, 2026 close per Data Collector; bond market closed Nov 11 for Veterans Day)
• Beta: 1.23 (5Y observed (Data Collector)); ERP 5.0% → cost of equity 11.1%
• Cost of debt: 10Y + 1.0% spread (assumption; no interest-rate data in inputs) = 6.0% pre-tax, 4.7% after 21% tax
• Weights (market): equity 80.6% / debt 19.4% (mkt cap $175.7B, debt $42.4B)
• WACC 9.9% → 9.9%

DCF Analyst model, rerun by Fair Value Coordinator on today's data. Input file: data/2026-11-11/CRM.md. Generated 2026-11-11 07:16 MST (Phoenix).

Price used: $213.48 (regular-session close Nov 10, 2026). Shares 823M (diluted/implied, Yahoo impliedSharesOutstanding per Data Collector 2026-11-11).

WACC build

• Risk-free: 10Y UST 5.0% (Nov 10, 2026 close per Data Collector; bond market closed Nov 11 for Veterans Day)
• Beta: 1.23 (5Y observed (Data Collector)); ERP 5.0% → cost of equity 11.1%
• Cost of debt: 10Y + 1.0% spread (assumption; no interest-rate data in inputs) = 6.0% pre-tax, 4.7% after 21% tax
• Weights (market): equity 80.6% / debt 19.4% (mkt cap $175.7B, debt $42.4B)
• WACC 9.9% → 9.9%

Key assumptions

Base-case 5-year FCF ($B)

Terminal value check (base)

• Gordon TV $215.4B, PV $134.5B; EV $187.6B; TV share of EV 71.7%
• Implied exit multiple 13.9x year-5 FCF vs current EV/FCF TTM 13.6x (pre-SBC)
• FCF margin (after SBC, flat, base growth/WACC) needed to justify $213.48: 28.8% vs TTM 26.1%

Sensitivity – base case $/share (WACC vs terminal g)

Sources

• Yahoo Finance quoteSummary API (price, summaryDetail, defaultKeyStatistics, financialData, calendarEvents, earningsTrend, incomeStatementHistory): https://query2.finance.yahoo.com/v10/finance/quoteSummary/CRM — fetched Nov 11, 2026, 5:24 AM MST (America/Phoenix) / Nov 11, 2026, 7:24 AM ET
• Yahoo Finance chart API (pre/post included) close/pre-market cross-check: https://query1.finance.yahoo.com/v8/finance/chart/CRM — fetched Nov 11, 2026, 5:24 AM MST (America/Phoenix)
• stockanalysis.com statistics (S&P Global Market Intelligence): https://stockanalysis.com/stocks/crm/statistics/ — stats updated Nov 11, 2026, fetched Nov 11, 2026, 5:24 AM MST (America/Phoenix)
• stockanalysis.com forecast (S&P Global Market Intelligence): https://stockanalysis.com/stocks/crm/forecast/ — forecast updated Nov 10, 2026, fetched Nov 11, 2026, 5:24 AM MST (America/Phoenix)
• stockanalysis.com financials & cash-flow statement pages: https://stockanalysis.com/stocks/crm/financials/ and .../financials/cash-flow-statement/ — fetched Nov 11, 2026, 5:24 AM MST (America/Phoenix)
• Yahoo Finance news search: https://query1.finance.yahoo.com/v1/finance/search?q=CRM — fetched Nov 11, 2026, 5:24 AM MST (America/Phoenix)
• 10-year Treasury (for WACC context): 4.98% on Nov 10, 2026 (latest; Nov 11 is Veterans Day and the Treasury auction/bond market is closed). Source: https://home.treasury.gov daily par yield curve, November 2026 view.
• TTM SBC: https://stockanalysis.com/stocks/crm/financials/cash-flow-statement/?p=trailing (fetched 2026-11-11 ~05:25 MST)

Caveats

• SBC treated as a cash cost (subtracted from FCF) – conservative; pre-SBC values would be materially higher.
• Shares are Yahoo implied/diluted (rerun by Coordinator on data/2026-11-11); cost of debt is a 10Y+100bp assumption.
• Revenue start point is TTM; consensus FY1/FY2 periods may not align with TTM. Mid-year discounting not applied (end-year, conservative).

• Multiples are computed from the same source financials for the ticker and every peer (not the vendor's black-box "Forward PE / Forward PS", which is not always consistent with consensus FY1/FY2 EPS and sales).
• NTM P/E and NTM EV/Sales use day-weighted NTM = w×FY1 + (1−w)×FY2, with w = days remaining to FY1 period end from 2026-11-11 ÷ 365.25. If FY2 is missing, FY1 is used and labeled as such.
• EV/EBITDA is trailing-twelve-month; forward EBITDA consensus is not on the free source.
• P/FCF uses consensus FY1 FCF (FY2 FCF is gated). Dropped when FY1 FCF is ≤ 0 or the implied P/FCF exceeds 150x (FCF too small to capitalize).
• P/E is dropped when NTM/FY1 EPS is ≤ 0.05 or the multiple exceeds 150x.
• Low / mid / high = peer 25th percentile / median / 75th percentile (linear interpolation, inclusive), applied to the ticker's own NTM EPS, NTM sales, TTM EBITDA, or FY1 FCF. EV multiples are converted to equity as (implied EV + net cash) / basic shares.
• A multiple enters the blended range only if at least three peers have a usable figure and the ticker's own denominator is meaningful.
• 5-year average and range of the ticker's own multiples are not available from the provided free source (the stockanalysis "Financial Ratio History" section is present as a heading with no figures in the scrape).

Analyst: Relative Valuation Analyst Company: Salesforce Price used: $213.48 at Nov 10, 2026, 4:00 PM EST close (not pre-market) Shares: 823.0M basic shares outstanding (S&P GMI via stockanalysis; not a fully diluted count) Net cash (debt): $-30.97B Computed EV: $206.66B (= price × shares − net cash; may differ slightly from the rounded published EV)

Method

• Multiples are computed from the same source financials for the ticker and every peer (not the vendor's black-box "Forward PE / Forward PS", which is not always consistent with consensus FY1/FY2 EPS and sales).
• NTM P/E and NTM EV/Sales use day-weighted NTM = w×FY1 + (1−w)×FY2, with w = days remaining to FY1 period end from 2026-11-11 ÷ 365.25. If FY2 is missing, FY1 is used and labeled as such.
• EV/EBITDA is trailing-twelve-month; forward EBITDA consensus is not on the free source.
• P/FCF uses consensus FY1 FCF (FY2 FCF is gated). Dropped when FY1 FCF is ≤ 0 or the implied P/FCF exceeds 150x (FCF too small to capitalize).
• P/E is dropped when NTM/FY1 EPS is ≤ 0.05 or the multiple exceeds 150x.
• Low / mid / high = peer 25th percentile / median / 75th percentile (linear interpolation, inclusive), applied to the ticker's own NTM EPS, NTM sales, TTM EBITDA, or FY1 FCF. EV multiples are converted to equity as (implied EV + net cash) / basic shares.
• A multiple enters the blended range only if at least three peers have a usable figure and the ticker's own denominator is meaningful.
• 5-year average and range of the ticker's own multiples are not available from the provided free source (the stockanalysis "Financial Ratio History" section is present as a heading with no figures in the scrape).

Peer set

Large-cap enterprise application / platform software: CRM, NOW and ADBE are the closest product and go-to-market comps; MSFT, ORCL, SAP, INTU, ADSK and WDAY anchor the broader large-cap software multiple set (scale, recurring revenue, and operating leverage).

FY1 ends Jan 31, 2027 (w on FY1 = 0.222). Consensus FY1/FY2 non-GAAP EPS 16.75 / 16.02; NTM EPS 16.182. NTM sales $49.79B (FY1 $46.30B, FY2 $50.78B). TTM EBITDA $12.90B. Consensus FY1 FCF $15.00B.

Peer cells marked n/a (and why):

• ORCL FY1 P/FCF: FY1 P/FCF n/a (consensus FY1 FCF is negative or zero)

Implied per-share value

Current multiples vs own history

5-year average and range: n/a. The provided stockanalysis statistics scrape includes a “Financial Ratio History” heading with no figures (likely gated). No 5-year P/E, EV/EBITDA, EV/Sales or P/FCF average was invented or taken from another unpaid-login source in time for this run.

Blended range

Weights: equal-weight average of 4 usable multiples (NTM P/E, NTM EV/Sales, EV/EBITDA (TTM), FY1 P/FCF).

Low / mid / high: $208.04 / $283.92 / $363.77 Vs close $213.48: mid implies +33.0% upside.

Adjustments and judgment

• CRM screens cheap vs large-cap software on FY1 P/FCF and is below the peer median on NTM P/E, NTM EV/Sales and TTM EV/EBITDA.
• ADBE is a low-end outlier in this set (all of its multiples sit well below the group) and pulls the 25th percentile down; MSFT sits at the high end on EV/Sales. Both are left in the set because they are named large-cap software comps, but the IQR already compresses their influence relative to a min/max range.
• MSFT’s FY1 P/FCF is elevated because FY1 FCF is depressed by growth capex ($32.7B vs TTM FCF $60.0B). It remains under the 150x cutoff and is kept, which lifts the P/FCF 75th percentile. The blended high should be read with that in mind.
• Consensus FY2 EPS ($16.02) is slightly below FY1 ($16.75), so NTM P/E is a bit higher than a simple FY1 P/E. No multiple was dropped for CRM itself.

Data sources and as-of dates

• Prices: regular-session close Nov 10, 2026, 4:00 PM EST close (not pre-market), from stockanalysis.com pages (S&P Global Market Intelligence), cross-checked in the coordinator input files vs the Yahoo Finance chart API.
• Fundamentals and consensus: stockanalysis.com statistics (stats last updated on the pages on Nov 11, 2026) and forecast (this ticker's forecast page last updated Nov 10, 2026) for CRM and each peer. Forecast update dates differ by ticker.
• Raw files: /workspace/fair-value/coordinator/2026-11-11/raw/ (fetched 2026-11-11 05:23 MST (America/Phoenix)). Official collector folder data/2026-11-11/ did not yet have ticker files when this run started; coordinator fallback input files were used.
• 5-year multiple history: n/a (not in the free scrape).
• Public web was used only to attempt WMT/COST for AMZN (stockanalysis Cloudflare 403; Yahoo quoteSummary unauthorized). No paid logins.
• Peer forecast update dates:
• CRM: stats Nov 11, 2026, forecast Nov 10, 2026
• NOW: stats Nov 11, 2026, forecast Oct 30, 2026
• ADBE: stats Nov 11, 2026, forecast Nov 4, 2026
• MSFT: stats Nov 11, 2026, forecast Nov 6, 2026
• ORCL: stats Nov 11, 2026, forecast Nov 10, 2026
• INTU: stats Nov 11, 2026, forecast Nov 9, 2026
• ADSK: stats Nov 11, 2026, forecast Nov 10, 2026
• WDAY: stats Nov 11, 2026, forecast Oct 16, 2026
• SAP: stats Nov 11, 2026, forecast Oct 30, 2026