Last Price$293.1(1.6%)
Market Cap$286.3B
DCF value
$66.6
Overvalued (DCF value)
(77.3%)
Discount Rate
10.0%
Long-Term Growth Rate
4.0%
Stock quality
7/10
Great
CRM DCF Model
Free Cash Flow to Firm Model
NOPAT Model
Free Cash Flow to Equity Model
Net Income Model
Millions
Billions
| Jan'20 Actual | Jan'21 Actual | Jan'22 Actual | Jan'23 Actual | Jan'24 Actual | Jan'25 Estimate | Jan'26 Estimate | Jan'27 Estimate | Jan'28 Estimate | Jan'29 Estimate | Jan'30 Estimate | Jan'31 Estimate | Jan'32 Estimate | Jan'33 Estimate | Jan'34 Estimate | Jan'35 Terminal | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
% growth | 17,098.0 28.7% | 21,252.0 24.3% | 26,492.0 24.7% | 31,352.0 18.3% | 34,857.0 11.2% | 37,954.3 8.9% | 41,404.0 9.1% | 45,394.9 9.6% | 49,194.2 8.4% | 54,478.5 10.7% | 59,718.3 9.6% | 64,791.1 8.5% | 69,566.8 7.4% | 73,912.8 6.2% | 77,699.9 5.1% | 80,807.9 4.0% |
% margin | 297.0 1.7% | 455.0 2.1% | 548.0 2.1% | 1,030.0 3.3% | 5,011.0 14.4% | 2,281.4 6.0% | 2,488.7 6.0% | 2,728.6 6.0% | 2,957.0 6.0% | 3,274.6 6.0% | 3,589.6 6.0% | 3,894.5 6.0% | 4,181.5 6.0% | 4,442.8 6.0% | 4,670.4 6.0% | 4,857.2 6.0% |
NOPAT % effective tax rate | 53.0 0.3% | 723.5 3.4% | 516.5 1.9% | 324.6 1.0% | 4,187.0 12.0% | 1,906.2 5.0% | 2,079.5 5.0% | 2,279.9 5.0% | 2,470.7 5.0% | 2,736.1 5.0% | 2,999.3 5.0% | 3,254.0 5.0% | 3,493.9 5.0% | 3,712.2 5.0% | 3,902.4 5.0% | 4,058.5 5.0% |
% of revenue | 2,135.0 12.5% | 2,846.0 13.4% | 3,298.0 12.4% | 3,786.0 12.1% | 3,222.0 9.2% | 4,272.2 11.3% | 4,660.5 11.3% | 5,109.7 11.3% | 5,537.3 11.3% | 6,132.2 11.3% | 6,722.0 11.3% | 7,293.0 11.3% | 7,830.5 11.3% | 8,319.7 11.3% | 8,746.0 11.3% | 9,095.8 11.3% |
% of revenue | (643.0) (3.8%) | (710.0) (3.3%) | (717.0) (2.7%) | (798.0) (2.5%) | (736.0) (2.1%) | (931.6) (2.5%) | (1,016.2) (2.5%) | (1,114.2) (2.5%) | (1,207.4) (2.5%) | (1,337.1) (2.5%) | (1,465.7) (2.5%) | (1,590.2) (2.5%) | (1,707.5) (2.5%) | (1,814.1) (2.5%) | (1,907.1) (2.5%) | (1,983.4) (2.5%) |
% of revenue | (330.0) (1.9%) | (1,192.0) (5.6%) | (1,658.0) (6.3%) | (2,069.0) (6.6%) | (2,850.0) (8.2%) | (2,661.1) (7.0%) | (2,903.0) (7.0%) | (3,182.8) (7.0%) | (3,449.2) (7.0%) | (3,819.7) (7.0%) | (4,187.1) (7.0%) | (4,542.7) (7.0%) | (4,877.6) (7.0%) | (5,182.3) (7.0%) | (5,447.8) (7.0%) | (5,665.7) (7.0%) |
Free Cash Flow to Firm (FCFF) % of revenue | 1,215.0 7.1% | 1,667.5 7.8% | 1,439.5 5.4% | 1,243.6 4.0% | 3,823.0 11.0% | 2,585.7 6.8% | 2,820.7 6.8% | 3,092.6 6.8% | 3,351.5 6.8% | 3,711.5 6.8% | 4,068.4 6.8% | 4,414.0 6.8% | 4,739.4 6.8% | 5,035.5 6.8% | 5,293.5 6.8% | 5,505.2 6.8% |
% of FCFF used in calculation | 100.0% | 91.5% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | ||||||
Discount period | 0.50 | 1.50 | 2.50 | 3.50 | 4.50 | 5.50 | 6.50 | 7.50 | 8.50 | |||||||
Discount factor | 0.95 | 0.87 | 0.79 | 0.72 | 0.65 | 0.59 | 0.54 | 0.49 | 0.45 | |||||||
Discounted FCFF (DFCFF) | 2,461.2 | 2,681.3 | 2,642.0 | 2,660.3 | 2,651.5 | 2,615.6 | 2,553.5 | 2,466.8 | 2,357.9 |
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CRM DCF Value
DCF Value Calculation
as of Mar 03, 2025
Sum of DFCFF
% share of EV
23.1B
36.0%
Terminal Value (TV)
92.0B
Discounted TV
% share of EV
41.0B
64.0%
Total Debt
13.2B
65.1B
Shares outstanding
976.9M
FX rate
1.0
66.6
77.3% overvalued
Equity Value Bridge
CRM DCF Financials
Revenue
$34.9B -> $77.7B
8.3% CAGR
Operating Income
$5,011.0M -> $4,670.4M
(0.7%) CAGR
FCFF
$3,823.0M -> $5,293.5M
3.3% CAGR
CRM DCF sensitivity
DCF value
Long-term Terminal growth rate
3.0%
3.5%
4.0%
4.5%
5.0%
WACC
9.0%
$71.0
$75.0
$80.0
$83.0
$83.0
9.5%
$65.0
$69.0
$73.0
$77.0
$81.0
10.0%
$61.0
$63.0
$67.0
$70.0
$75.0
10.5%
$56.0
$59.0
$61.0
$64.0
$68.0
11.0%
$53.0
$55.0
$57.0
$59.0
$62.0
DCF value, undervalued / overvalued
Long-term Terminal growth rate
3.0%
3.5%
4.0%
4.5%
5.0%
WACC
9.0%
(76.0%)
(74.0%)
(73.0%)
(72.0%)
(72.0%)
9.5%
(78.0%)
(76.0%)
(75.0%)
(74.0%)
(72.0%)
10.0%
(79.0%)
(79.0%)
(77.0%)
(76.0%)
(74.0%)
10.5%
(81.0%)
(80.0%)
(79.0%)
(78.0%)
(77.0%)
11.0%
(82.0%)
(81.0%)
(81.0%)
(80.0%)
(79.0%)
Explore more intrinsic value tools hub for CRM
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Earnings growth model
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Intrinsic Value
Reverse DCF
FAQ
What is Salesforce, Inc. DCF (discounted cash flow) valuation?
As of Mar 03, 2025, Salesforce, Inc.'s Discounted Cash Flow (DCF) valuation estimates its share price at $66.6. This suggests it may be overvalued by (77.3%) compared to its current price of around $293.1, using a WACC of 10.0% and growth rates of 4.0%.
What is Salesforce, Inc. WACC?
As of Mar 03, 2025, Salesforce, Inc.'s Weighted Average Cost of Capital (WACC) is approximately 10.0%.
What is Salesforce, Inc. Enterprise Value?
As of Mar 03, 2025, Salesforce, Inc.'s Enterprise Value (EV) is approximately $64.1B. This value reflects the company's total market capitalization plus debt, minus cash and cash equivalents, providing a comprehensive measure of its overall value in the market.