Salesforce, Inc. — Earnings Quality Grade C
CRM · Technology
Some red flags
Screening Summary
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO increased by 11 days
AR growth 20.0% exceeds revenue growth 9.6%
Revenue 9.6%, CFFO 14.5%. Cash follows revenue
Expense Quality
No material inventory
CapEx growth -9.7% vs revenue 9.6%. Normal
SG&A/Gross Profit = 50.7%. Normal
Gross margin 77.7%, change +0.5pp. Stable
Cash Flow Quality
CFFO/NI = 2.01. Profits backed by cash
FCF $14.4B, FCF/NI = 1.93
Accruals ratio = -6.7%. Low accruals
Cash $9.6B covers 56% of debt $17.2B
Balance Sheet Health
Goodwill+Intangibles $64.8B = 109% of equity. Over 50%
Debt/EBITDA = 1.4x. Healthy
Other assets -23.9% vs revenue 9.6%. Normal
Write-offs normal
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change 16% YoY. Normal
Manipulation Score
M-Score = -2.66 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-08