WinstonWınston
Salesforce logo

Salesforce

FOO.F
69
Software - Application · Technology
Price
€143.44
+6.70 (+4.90%)
Market Cap
€117.48B
Exchange
Frankfurt Stock Exchange
Winston Score
69
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Jul 26, 2026 · filings through Apr 30, 2026

Share count rising — dilution

+2.8% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 930.0M (2022) → 956.0M (2026)

Salesforce makes software that helps businesses keep track of their customers. Its main product is a customer relationship management (CRM) platform, which lets sales teams, marketers, and customer service workers store information, manage deals, and communicate with clients all in one place. Salesforce is the largest CRM software company in the world, and its customers range from small businesses to large corporations across nearly every industry.

Salesforce earns money primarily through subscriptions — companies pay a recurring fee to access its cloud-based tools. It operates globally, with significant revenue from North America, Europe, and Asia-Pacific, and generated roughly $37 billion in annual revenue in its most recent fiscal year. Its moat comes from how deeply its software gets embedded into a company's daily operations, making it costly and disruptive to switch. The key growth driver going forward is its push into artificial intelligence tools, branded as Agentforce, though competition from Microsoft and other tech giants remains a significant ongoing risk.

Winston Score History

Growth Profile

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

Revenue Growth

+12.5% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+15.6% YoY

YoY Growth Rate

Steady EPS growth

R&D Spend

$6.0B/ year

Rising (+9% vs prior year)

14.4% of revenue

In line with sector average (15%)

Investing heavily in future products and technology

Insider Activity

3.1%ownership

Relatively low insider ownership

Cash Position

Cash flow positive

$17.2B 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 12%. 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.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales YoY
+11.1%
Steady sales growth (11.1% YoY)
EPS YoY
+33.8%
Earnings growing fast (33.8% YoY)

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

EPS Consistency
8/8 quarters
Every recent quarter grew earnings vs last year

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Cash Conversion
190%
Turns 190% of profit into real cash
FCF Margin
34.2%
Converts sales into free cash efficiently (34.2%)

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

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

Debt / Equity
1.15
Elevated debt (1.15)
Interest Cover
21.43x
Comfortably covers interest (21.4x)

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

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

P/E Ratio (TTM)
16.5x
Fair value — P/E 16.5

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

P/E vs Forward
+8.6
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (16.5 → 8.0)

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Dividend Yield
1.05%
Small dividend — 1.05% yield

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

Dividend Growth
+2.2%
Dividend flat

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free
🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.
Start free trial