Salesforce

CRM.NE

Software - Application · Technology

Price

C$14.68

+0.41 (+2.87%)

Market Cap

C$236.18B

Exchange

CBOE CA

Winston Score

Winston is happy

A high-quality business with solid fundamentals.

Data as of Aug 9, 2026 · filings through Apr 30, 2026

Share count falling — buybacks

−93.1% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 13.92B (2022) → 956.0M (2026)

Salesforce makes software that helps businesses keep track of their customers. Its main product is a cloud-based platform called Customer Relationship Management (CRM) software, which lets sales teams, customer service agents, and marketers manage contacts, deals, and communications all in one place. Salesforce is the largest CRM software provider in the world, serving companies of all sizes across industries like retail, finance, and healthcare.

Salesforce charges customers a recurring subscription fee to access its software over the internet, which creates steady, predictable revenue. The company operates globally, with significant business in North America, Europe, and Asia-Pacific, and generated roughly $37 billion in revenue in its most recent fiscal year. Its deep integration into customers' daily workflows makes it difficult to switch to a competitor, which is a strong moat — but the key risk is growing competition from Microsoft and other tech giants expanding their own AI-powered business software tools.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+13.9% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

>+1,000% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$6.1B/ year

↑ Rising (+11% vs prior year)

14.4% of revenue

In line with sector average (15%)

Investing heavily in future products and technology

Insider Activity

94.3%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$17.0B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Salesforce is a rare growth stock that's already generating positive cash flow while growing at 14%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

74.1%

Premium pricing power — 74.1% gross margin

Operating Margin

21.8%

Excellent — 21.8% operating margin

ROCE

3.3%

Weak — 3.3% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

+11.7%

Steady sales growth (+11.7% YoY)

EPS YoY

>+1,000%

Earnings growing fast (>+1,000% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

7/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Cash Conversion

204%

Turns 204% of profit into real cash

FCF Margin

36.7%

Converts sales into free cash efficiently (36.7%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

Debt / Equity

1.15

Elevated debt (1.15)

Interest Cover

18.55x

Comfortably covers interest (18.5x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

2.1x

Attractive valuation — P/E 2.1

P/E under 10. The price tag is small relative to last year's profit.

P/E vs Forward

+1.2

GROWING

Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Dividend Yield

0.93%

Small dividend — 0.93% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth

+3.0%

Dividend growing modestly (3.0% YoY)

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