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Salesforce (CRM) FY2026 results: revenue $41.5 billion, up 9.6% on the year

Salesforce, Inc. (CRM) reported revenue of $41.5 billion for fiscal 2026, the year ended 31 January 2026, up 9.6% on the year before. Net income was $7.5 billion, up 20.3%, and diluted earnings per share $7.80. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2026.

Revenue
$41.5 billion
+9.6% on the year
FY2019FY2026
Operating margin
20.1%
19.0% a year earlier
FY2019FY2026
Net income
$7.5 billion
+20.3% on the year
FY2019FY2026
Diluted EPS
$7.80
+22.6% on the year
FY2019FY2026

this yearthe year beforeHover a bar for its figure.

The year in brief

What management said about the year

Guidance figures: 1 raised, 12 new.

  • Quarterly revenue rose 12%: Fourth quarter revenue was $11.2 billion, up 12% year-over-year and 10% in constant currency, including a $399 million Informatica contribution.
  • Agentforce and Data 360 ARR passed $2.9 billion: Agentforce and Data 360 ARR exceeded $2.9 billion, up over 200% year-over-year. Informatica Cloud ARR accounted for $1.1 billion of that total.
  • Agentic work units and tokens grew: Agentic Work Units delivered to date reached 2.4 billion across Agentforce and Slack, up 57% quarter-over-quarter. Tokens processed exceeded 19 trillion, up 5x year-over-year.
  • Current RPO reached $35.1 billion: Current RPO was $35.1 billion, up 16% year-over-year and 13% in constant currency, with about 4 points from Informatica. It was $29.4 billion at October 31, 2025.
  • Returned $14.3 billion to shareholders: FY26 shareholder returns totaled $14.3 billion: $12.7 billion of share repurchases and $1.6 billion of dividends.
Read the Q4 FY2026 earnings call summary

From this 10-K

Salesforce sells customer relationship management technology. It was founded in 1999, operates as one segment, and sells to businesses worldwide primarily on a subscription basis through its own direct sales and indirectly through partners. It also lets third parties use its platform and developer tools to build further applications, which are sold separately from or together with its own service offerings. Revenues come from two sources: subscription and support, and professional services. The Agentforce 360 Platform brings the offerings together across sales, service, marketing, commerce, collaboration, data management, integration, analytics, IT service and industry verticals.

Salesforce, Inc., the 10-K for 2026

Salesforce sells customer relationship management technology. It was founded in 1999, operates as one segment, and sells to businesses worldwide primarily on a subscription basis through its own direct sales and indirectly through partners. It also lets third parties use its platform and developer tools to build further applications, which are sold separately from or together with its own service offerings. Revenues come from two sources: subscription and support, and professional services. The Agentforce 360 Platform brings the offerings together across sales, service, marketing, commerce, collaboration, data management, integration, analytics, IT service and industry verticals.

The applications

Agentforce Sales covers prospecting, sales engagement, team collaboration, sales analytics and AI, sales programs, sales performance, partner management, and revenue and orders. Agentforce Service brings customer, employee, IT and field service onto one platform, automating routine tasks, routing cases to a service agent, answering with responses grounded in company data, and summarising support cases and field work orders. The field service part connects service agents, dispatchers and mobile employees on one platform, scheduling and dispatching work and tracking jobs.

The Marketing offering handles engagement across the customer lifecycle, building segments, calculating insights, analysing performance, and generating campaign briefs, content and journeys. The Commerce offering connects marketing, sales, service and fulfilment on one platform, with agents handling tasks such as product recommendations and order lookup and generating product descriptions and web pages.

The platform underneath

The Agentforce 360 Platform is where customers build business workflows, applications and AI agents, with no-code and low-code tools. A Trust Layer sets guardrails on what agents may do with a customer's data, and the platform is built on Hyperforce, the company's infrastructure for managing data governance and compliance at a local level.

Agentforce is the agentic layer. Agents built on it access live business data through Data 360, follow company policies defined in Salesforce metadata, and act through Salesforce applications and MuleSoft application programming interfaces. They reach people through voice, chat and Slack, operate within defined permissions with observability, governance and auditability, and can be built, tested, deployed, managed and orchestrated with a set of lifecycle tools.

Data 360 is the data engine. It connects enterprise data across clouds, systems and channels using zero-copy technology that reaches external sources without duplicating them, then unifies, cleans and harmonises it into a single governed source. Real-time ingestion, transformation, indexing and retrieval-augmented generation turn both structured records and unstructured content, including emails, documents, conversations and events, into searchable material an agent can use.

The acquisition of Informatica closed in the fourth quarter of fiscal 2026. Informatica is an AI-powered data management platform covering data integration, quality, governance, master data and metadata management, and catalog services across hybrid and multi-cloud environments, and it extends data connectivity into complex distributed systems that feed Salesforce and Data 360.

Slack, integration and analytics

Slack is the conversational interface, centralising conversations and collaboration, automating business processes and carrying search and knowledge sharing, and it is integrated with every Salesforce offering. Slackbot is an employee agent inside Slack that finds answers, organises work, creates content, schedules meetings and takes action.

Integration, automation and API management run on MuleSoft, which connects data across a customer's systems, automates action on that data with no-code or low-code tools, and scales API governance. MuleSoft Agent Fabric manages, governs and observes agents regardless of where they were built or run, with a central registry to discover and reuse them.

Analytics runs on Tableau, built on the Agentforce 360 Platform, which lets customers visualise, analyse and act on data from any source and surface trends and recommendations. Tableau Semantics, integrated into Data 360, translates data into business language, and Tableau analytics can be surfaced natively inside Salesforce applications, including Slack.

Industries and the entry point

The industry vertical offerings cover financial services, healthcare and life sciences, manufacturing, automotive and government, each with out-of-the-box Agentforce-powered capabilities. Industries AI is a suite of capabilities for more than 200 industries with a library of resources on how to get started. Starter Suite is an all-in-one product for small and medium-size businesses, bringing sales, service, marketing and commerce together.

From Salesforce's annual report on Form 10-K for the year ended 31 January 2026. The filing

Written from the 10-K filed 2 March 2026: read the full 10-K.

The four quarters: Q1 FY2026 · Q2 FY2026 · Q3 FY2026 · Q4 FY2026

Income statement (profit and loss)

$ millionFY2026FY2025FY2024On the yearLast 8 years
Revenue41,52537,89534,857+9.6%
Cost of revenue9,2708,6438,541+7.3%
Gross profit32,25529,25226,316+10.3%
Gross margin77.7%77.2%75.5%
Research and development5,9935,4934,906+9.1%
Operating income8,3317,2055,011+15.6%
Operating margin20.1%19.0%14.4%
Interest expense324272283+19.1%
Pre-tax income9,5207,4384,950+28.0%
Income tax2,0631,241814+66.2%
Effective tax rate21.7%16.7%16.4%
Net income7,4576,1974,136+20.3%
Net margin18.0%16.4%11.9%
Diluted EPS$7.80$6.36$4.20+22.6%
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionFY2026FY2025FY2024On the yearLast 8 years
Operating cash flow14,99613,09210,234+14.5%
Capital expenditure594658736-9.7%
Free cash flow14,40212,4349,498+15.8%
Free cash flow margin34.7%32.8%27.2%
Cash from investing-8,590-3,163-1,327
Cash from financing-8,079-9,429-7,477
Depreciation and amortisation1,2001,0001,100+20.0%
Share-based compensation3,5093,1832,787+10.2%
Buybacks12,5967,8297,620+60.9%
Dividends paid1,5871,5370.0+3.3%
Diluted shares, weighted956m974m984m-1.8%
Shares outstanding at period end929m962m971m-3.4%

Balance sheet

$ millionFY2026FY2025FY2024On the yearLast 8 years
Shareholders' equity59,14261,17359,646-3.3%
Debt14,4398,4339,426+71.2%
Operating lease liabilities2,1892,3802,644-8.0%
Finance lease liabilities260341602-23.8%
Other liabilities36,27530,60127,505+18.5%
Total liabilities and equity112,305102,92899,823+9.1%
Goodwill57,94151,28348,620+13.0%
Intangible assets6,8154,4285,278+53.9%
Investments2,2385,1845,722-56.8%
Cash and equivalents7,3278,8488,472-17.2%
Receivables14,33911,94511,414+20.0%
Other assets23,64521,24020,317+11.3%
Total assets112,305102,92899,823+9.1%

10-K for the year ended 31 January 2026, filed 2 March 2026: the filing.