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Company file · CRM

Salesforce

Salesforce's net income rose in fiscal 2026 as subscription revenue grew

Total revenues rose 9.6% to $41.5B in the year to Jan 31, 2026, and net income rose 20.3% to $7.5B. Subscription and support was 95% of revenue.

Prepared from SEC filings · Latest annual report: 10-K for FY2026 (filed Mar 2, 2026) · Latest quarter: 10-Q for the quarter ended Jul 31, 2026 (filed Aug 27, 2026) · Data pulled Oct 25, 2026

Key facts

In fiscal 2026, which ended Jan 31, 2026, Salesforce (NYSE: CRM) took in $41.5B of total revenues (up 9.6% on fiscal 2025); net income was $7.5B (up 20.3%). The most recent quarter, ended Jul 31, 2026, brought revenue of $11.3B, up 10.8% year over year, with net income of $3.5B. Subscription and support was the biggest single line subscriptions and services: 95% of fiscal 2026 total revenues. Sources: 10-K for fiscal 2026 (filed Mar 2, 2026) and 10-Q for the quarter ended Jul 31, 2026 (filed Aug 27, 2026).

Revenue$41.5BFY2026 · +9.6% vs FY2025
Net income$7.5BFY2026 · +20.3% vs FY2025
Operating cash flow$15.0BFY2026 · +14.5% vs FY2025
Cash & equivalents$8.3Bat Jul 31, 2026 · +13.4% vs FY2026 end
Total debt$39.3Bat Jul 31, 2026 · +172.1% vs FY2026 end
Diluted shares956MFY2026 avg · −1.8% vs FY2025
Total revenues and net income, three fiscal yearsBy fiscal year, $bn
Total revenuesNet income
Total revenues and net income by fiscal yearTotal revenues FY2024: $34.9B34.9Net income FY2024: $4.1B4.1FY2024Total revenues FY2025: $37.9B37.9Net income FY2025: $6.2B6.2FY2025Total revenues FY2026: $41.5B41.5Net income FY2026: $7.5B7.5FY2026

Source: 10-K FY2026, filed Mar 2, 2026

Quarterly total revenues: fiscal 2027 vs a year earlierFiscal Q1–Q2, $bn (each quarter from that quarter's 10-Q)
FY2026FY2027
Quarterly total revenues, fiscal 2027 vs 2026FY2026 Q1: $9.8B9.8FY2027 Q1: $11.1B11.1Q1FY2026 Q2: $10.2B10.2FY2027 Q2: $11.3B11.3Q2

Source: 10-Q filed May 28, 2026 · 10-Q filed Aug 27, 2026

How it makes money

FY2026 total by categorySubscription and support: $39.4B (95%)Professional services and other: $2.1B (5%)$41.5BFY2026 total

Subscriptions and services, FY2026

  • LineAmountSharevs FY2025
  • Subscription and support$39.4B95%+10.4%
  • Professional services and other$2.1B5%−3.6%

Source: 10-K FY2026, XBRL breakdown

Subscription and support was 95% of fiscal 2026 revenue. Within it, Service was 24%, Sales 22% and Platform, Slack and other 21%. The Americas were 65% of revenue.

Subscriptions and services: three-year mixShare of the total each fiscal year
Subscription and supportProfessional services and other

Source: 10-K FY2026

Subscription and support, by product group, FY2026

Service$9.8B24%+8.4%
Sales$9.0B22%+8.5%
Platform, Slack and other$8.9B21%+22.6%
Integration and Analytics$6.2B15%+7.9%
Marketing and Commerce$5.4B13%+2.8%

Share is of FY2026 total revenues; the items listed don't cover all of it. The last column is the change from FY2025.

What changed last quarter

How the quarter compared with a year earlier

Comparing Q2 FY2027 (May to Jul 2026) compared with Q2 FY2026 (May to Jul 2025)

Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.

Q2 FY2027Q2 FY2026

Company

Revenue
$11.3B Q2 FY2027
$10.2B Q2 FY2026
10.8% increase
Net income
$3.5B Q2 FY2027
$1.9B Q2 FY2026
86.9% increase

Source: Salesforce 10-Q for the quarter ended Jul 31, 2026, filed Aug 27, 2026

Subscriptions and services

Subscription and support
$10.8B Q2 FY2027
$9.7B Q2 FY2026
11.7% increase
Professional services and other
$525M Q2 FY2027
$546M Q2 FY2026
3.8% decrease

Source: Salesforce 10-Q for the quarter ended Jul 31, 2026, filed Aug 27, 2026

  • Cash & equivalents $8.3B at Jul 31, 2026, vs $7.3B at FY2026 end.
  • Total debt $39.3B at Jul 31, 2026, vs $14.4B at FY2026 end.
  • Operating cash flow, first 6 months of fiscal 2027: $8.0B vs $7.2B a year earlier.

The bull case and the bear case

The bull case

  • Net income rose 20.3% in fiscal 2026 to $7.5B, on revenue up 9.6%. 10-K, FY2026
  • Platform, Slack and other revenue grew 22.6% in fiscal 2026. 10-K, FY2026
  • Revenue in the quarter ended Jul 31, 2026 was $11.3B, up 10.8% on a year earlier, and net income rose 86.9% to $3.5B. 10-Q, quarter ended Jul 31, 2026
  • Operating cash flow rose 14.5% in fiscal 2026 to $15.0B. 10-K, FY2026

The bear case

  • Total debt was $39.3B at Jul 31, 2026, up from $14.4B at the end of fiscal 2026. 10-Q, quarter ended Jul 31, 2026
  • Marketing and Commerce revenue grew just 2.8% in fiscal 2026. 10-K, FY2026
  • Professional services revenue fell 3.6% in fiscal 2026. 10-K, FY2026
  • The 10-K lists security breaches, service disruptions, acquisitions, renewals and competition among its risks. 10-K, Item 1A

What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.

What the company does

Salesforce sells cloud software that companies use to manage customer relationships: sales, customer service, marketing, commerce, data and analytics, plus Slack and its Agentforce AI agents.

Most revenue comes from subscriptions, which customers pay for over the contract term. It groups subscription revenue into Service, Sales, Platform (including Slack), Integration and Analytics (including MuleSoft and Tableau), and Marketing and Commerce. Professional services help customers set up and use its products.

Its fiscal year ends on January 31, so fiscal 2026 means the year to Jan 31, 2026.

Source: 10-K, Item 1 Business

Main risks the company lists

Our plain-English paraphrase of the risk factors in Salesforce's latest 10-K. Read the original for the full list.

  1. SecurityBreaches of its systems or customers' data could be very costly.
  2. Service disruptionsOutages at its own or third-party data centers could hurt customers.
  3. AcquisitionsIt buys companies to grow, which brings integration risk.
  4. RenewalsCustomers may not renew or may cut subscriptions.
  5. Competition and AIMarkets are competitive and changing fast with AI.
  6. InternationalSales outside the US expose it to currency and regulatory risk.
  7. Privacy and regulationPrivacy, AI and cloud rules can limit products or raise costs.

Source: 10-K, Item 1A Risk Factors (the full list, in the company's words)

Three years of key numbers

Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.

US$FY2024FY2025FY2026
Total revenues$34.9B$37.9B$41.5B
Net income$4.1B$6.2B$7.5B
Operating cash flow$10.2B$13.1B$15.0B
Cash & equivalents (year end)$8.5B$8.8B$7.3B
Total debt (year end)$9.4B$8.4B$14.4B
Diluted shares984M974M956M
  • Total revenues: Subscriptions to its cloud software, plus support, professional services and training.
  • Net income: Profit after all costs and taxes.
  • Operating cash flow: Cash the business brought in from its day-to-day operations during the year (cash flow statement).
  • Cash & equivalents: Cash and short-term investments that count as cash equivalents on the balance sheet. Excludes longer-dated marketable securities.
  • Total debt: Current and long-term debt, at carrying value.
  • Diluted shares: Weighted average shares outstanding for the year, including the effect of options and stock awards.

About these numbers

  • Product-group figures are subscription and support revenue by group; Salesforce began reporting these groups recently, so fewer years are shown.
  • Salesforce's fiscal year ends January 31. It calls the year to January 31, 2026 fiscal 2026, as this page does.

Recent filings

FormFiledPeriod
10-QAug 27, 2026Jul 31, 2026
10-QMay 28, 2026Apr 30, 2026
DEF 14AApr 16, 2026May 28, 2026
10-KMar 2, 2026Jan 31, 2026

Latest filings

  1. Oct 234:59 PM ET

    Form 4

    Salesforce Co-Founder Parker Harris reports exercising or converting 1,785 shares

    The filing reports 1,785 shares in an exercise or conversion of a derivative security (code M); and 886 shares withheld to pay the exercise price or tax (code F).

  2. Oct 209:16 AM ET

    8-K

    Salesforce files an 8-K on investor materials (Reg FD)

    Salesforce filed a Form 8-K on Oct 20, 2026 at 9:16 AM ET under Item 7.01 (Regulation FD Disclosure).

All Salesforce filings notes →

Common questions about Salesforce

How does Salesforce make money?

In fiscal 2026, total revenues totaled $41.5B. Subscription and support was 95% of fiscal 2026 revenue. Within it, Service was 24%, Sales 22% and Platform, Slack and other 21%. The Americas were 65% of revenue. Source: 10-K for fiscal 2026, filed Mar 2, 2026.

What was Salesforce's revenue in fiscal 2026?

Total revenues came to $41.5B in the year ended Jan 31, 2026. Going back two years, it was $34.9B in fiscal 2024 and $37.9B in fiscal 2025, so the latest year was up 9.6%. Source: 10-K for fiscal 2026, filed Mar 2, 2026.

Is Salesforce profitable?

Yes, by US accounting rules (GAAP): net income was $7.5B in fiscal 2026, up 20.3% from $6.2B a year earlier. For the quarter ended Jul 31, 2026, net income was $3.5B. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2026, filed Mar 2, 2026.

What did Salesforce report in its latest quarterly filing?

The 10-Q for the quarter ended Jul 31, 2026 shows revenue of $11.3B, against $10.2B in the same quarter a year before (up 10.8%), and net income of $3.5B, against $1.9B (up 86.9%). Source: 10-Q for the quarter ended Jul 31, 2026, filed Aug 27, 2026.

How much cash and debt does Salesforce have?

On Jul 31, 2026, cash and cash equivalents stood at $8.3B and total debt at $39.3B. Total debt here is current and long-term debt, at carrying value. Source: 10-Q filed Aug 27, 2026.

What are the main risks Salesforce lists?

Item 1A of the fiscal 2026 10-K (filed Mar 2, 2026) sets out the risks. Grouped, they fall into 7 areas: Security; service disruptions; acquisitions; renewals; competition and AI; international; privacy and regulation. To start with the first: Breaches of its systems or customers' data could be very costly. Source: 10-K, Item 1A Risk Factors.

Where do these Salesforce numbers come from?

Two filings Salesforce made with the SEC: its fiscal 2026 10-K, filed Mar 2, 2026, and its 10-Q for the quarter ended Jul 31, 2026, filed Aug 27, 2026. The figures are taken from the XBRL data the SEC publishes, and every one links back to its source. Methodology explains how fiscal years and missing numbers are handled.

Disclosures

Editor holdings in CRM
The editor holds no position in Salesforce (CRM). As of Oct 25, 2026.
Trading rule
The editor does not buy or sell CRM from 3 days before to 3 days after this page is published or substantively updated.
Compensation
Nobody paid for this page. No affiliate links on this page.
Sources
The company's SEC filings, linked next to each number or, for charts, in the source line under them.
Last updated
Oct 25, 2026

General education, the same for every reader. Not a recommendation to buy, sell or hold CRM, and it doesn't consider your situation.

Compare with peers

CompanyFiscal yearRevenueRevenue growthNet income
SalesforceCRMFY2026$41.5B+9.6%$7.5B
OracleORCLFY2026$67.4B+17.3%$17.1B
MicrosoftMSFTFY2026$331.8B+17.8%$133.7B
IBMFY2025$67.5B+7.6%$10.6B

Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.

More company files

New to filings? Learn lists the first explainer topics. Methodology & Disclosures covers where every number comes from.