CRM · Research
Salesforce Has Become a Cash Harvester Priced Near Fair Value
Salesforce (CRM) earns a "Watch" rating and an institutional Quality Score of 83/100 (Grade A). On $37.90B in baseline revenue (9.9% growth, 77.2% gross margin, 32.8% FCF margin), our 5-year DCF yields an Enterprise Value of $231.52B ($240.93/share vs. $228.05 market price).
Salesforce (CRM) earns a "Watch" rating and an institutional Quality Score of 83/100 (Grade A). On $37.90B in baseline revenue (9.9% growth, 77.2% gross margin, 32.8% FCF margin), our 5-year DCF yields an Enterprise Value of $231.52B ($240.93/share vs. $228.05 market price).
On the R&D Return Benchmark, CRM ranks #66 of 166 (Harvesters · Grade BBB, 0.55× return).
Key rating factors
- TTM revenue
- $37.9B
- R&D % of spend
- 14.4%
- Rule of 40
- 42.8%
- R&D return
- 0.55x