"We've never seen products grow at these levels, especially, Agentforce. And Data Cloud and AI, Agentforce, is now going to be incredible coming into fiscal year '26."
— Marc Benioff
03Detailed Report
CRM
Salesforce Inc
Period
Q4 2025
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedMay 14, 2026
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Executive Summary
In the fourth quarter of fiscal 2025, Salesforce Inc reported stellar financial results, achieving a revenue milestone of $10 billion, marking an 8% year-over-year increase. This remarkable performance reflects robust demand for its products, especially driven by the rapidly growing Agentforce AI platform. The company experienced substantial milestones, including surpassing $63 billion in Remaining Performance Obligations (RPO), seen as a strong indicator of future growth and client confidence. Management highlighted Agentforce as a key driver behind this success, with over 3,000 paying clients experiencing efficiencies and enhanced productivity. The company projects continued strong revenue growth, with guidance of $40.5 - $40.9 billion for fiscal year 2026, largely supported by their strategic focus on AI and multi-cloud capabilities.
Key Performance Indicators
Revenue
Increasing
9.99B
QoQ: 5.81% | YoY: 7.60%
Gross Profit
Increasing
7.78B
77.81% margin
QoQ: 5.95% | YoY: 8.92%
Operating Income
Increasing
1.82B
QoQ: -3.86% | YoY: 12.21%
Net Income
Increasing
1.71B
QoQ: 11.85% | YoY: 18.12%
EPS
Increasing
1.78
QoQ: 11.25% | YoY: 19.46%
Revenue Trend
Margin Analysis
Financial Highlights
Revenue Performance:
- Q4 2025 Revenue: $10B, up 8% YoY; up 9% in constant currency.
- Full Year Revenue: $37.9B, a 9% YoY increase.
- Recorded over $63B in RPO at year-end, an 11% increase YoY.
Profitability Metrics:
- Q4 2025 Net Income: $1.71B, up 18% YoY; resulting in EPS of $1.78.
- Non-GAAP operating margin reached 33%, up 250 basis points YoY.
- Operating cash flow for Q4: $4B, representing a 17% increase.
Cash Flow and Balance Sheet Strength:
- Cash and cash equivalents at end of period: $8.85B.
- Free Cash Flow: $3.8B for Q4, reflecting ongoing strong cash generation capabilities.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
9.99B
7.60%
5.81%
Gross Profit
7.78B
8.92%
5.95%
Operating Income
1.82B
12.21%
-3.86%
Net Income
1.71B
18.12%
11.85%
EPS
1.78
19.46%
11.25%
Key Financial Ratios
Gross Profit Margin
Excellent
77.80%
Gross profit margin is exceptional, indicating strong pricing power and operational efficiency
Operating Profit Margin
Good
18.20%
Operating margin is healthy and competitive within industry standards
Net Profit Margin
Good
17.10%
Net profit margin is healthy and competitive within industry standards
Return on Assets
Weak
1.66%
Return on assets suggests inefficient capital allocation
Return on Equity
Weak
2.79%
Return on equity suggests inefficient capital allocation
Current Ratio
Adequate
1.06
Current ratio meets minimum requirements but limited cushion
Debt to Equity
Conservative
0.19
Debt-to-equity shows conservative leverage and low financial risk
P/E Ratio
High Growth
47.96x
Very high P/E indicates aggressive growth expectations, higher risk
Price to Book
Premium
5.36x
Trading at premium to book value, reflects strong intangibles or growth
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