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Forensic Analysis · Software & SaaS · as of Nov 8, 2026

Salesforce, Inc. (CRM)

A forensic read on Salesforce, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

B · Sound & dependable
Forensic grade
Grey Zone
Financial health
1.8
Distress distance
Clean
Earnings quality
2
Forensic signals
12.4%
ROE
9.6%
Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Salesforce, Inc. earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 1.8, placing it in the Grey zone. 2 forensic signals were flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

9.5%
FY2026
Return on invested capital. Return on invested capital is 9.5% in the latest fiscal year and rising across FY2024–FY2026 from 6.4%. After-tax operating profit was $4.2B in FY2024 and $6.5B in FY2026, with operating income at 14.4% of revenue in FY2024, 19.0% in FY2025 and 20.1% in FY2026. The capital base behind it went from $65.7B in FY2024 to $69.0B in FY2026 (+5%), while the revenue it carried went from $34.9B to $41.5B.
98% of FCF
FY2026
Shareholder returns. Returned $14.2B to shareholders (buybacks + dividends) in FY2026 — 98% of free cash flow. Right at the limit of what free cash flow covers — little room before it's funded by debt or the balance sheet. That ratio has been CLIMBING toward the limit — 80% of free cash flow two years back — not just sitting there. Counting the $3.5B of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 123%.

Key fundamentals

Latest Revenue$41.52B
Revenue Growth YoY+9.6%
Revenue CAGR (2yr)+9.1%
Net Margin18.0%
Free Cash Flow$14.40B
Return on Equity12.4%
Debt / Equity0.24x

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Data from SEC EDGAR public filings · metrics as of Nov 8, 2026. Forensic signals flag probability, not certainty.

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