Question 1

What is Salesforce's P/B ratio?

Accepted Answer

Salesforce (CRM) P/B ratio is 4.1× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for Salesforce?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For Salesforce specifically, the relevant sector benchmark is the current sector median of 5.6×.

Question 5

Is Salesforce's P/B ratio high or low?

Accepted Answer

Salesforce's P/B ratio of 4.1× is above its own 5-year average of 4.0× and below the sector median of 5.6×. That places the current reading at the 58th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Salesforce's historical P/B ratio range?

Accepted Answer

In the available daily series, Salesforce (CRM) P/B ratio has ranged from a low of 2.2× in 2022 to a high of 22.4× in 2006. The 5-year average is 4.0× and the 5-year median is 4.0×.

Question 7

What was Salesforce's P/B ratio in 2026?

Accepted Answer

Salesforce (CRM) P/B ratio at the end of 2026 was 3.4×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

Why does Salesforce's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2026	$198B	$59.1B	3.4×	-2.0×	Jan 31, 2026
2025	$328B	$61.2B	5.4×	+0.8×	Jan 31, 2025
2024	$273B	$59.6B	4.6×	+1.7×	Jan 31, 2024
2023	$165B	$58.4B	2.8×	-1.1×	Jan 31, 2023
2022	$229B	$58.1B	3.9×	-1.1×	Jan 31, 2022
2021	$209B	$41.5B	5.0×	+0.3×	Jan 31, 2021
2020	$162B	$33.9B	4.8×	-2.7×	Jan 31, 2020
2019	$116B	$15.6B	7.5×	-0.5×	Jan 31, 2019
2018	$82.5B	$10.4B	7.9×	+0.6×	Jan 31, 2018
2017	$55.4B	$7.5B	7.4×	-1.4×	Jan 31, 2017
2016	$44B	$5B	8.8×	-0.3×	Jan 31, 2016
2015	$36B	$3.98B	9.0×	-2.6×	Jan 31, 2015
2014	$35.7B	$3.07B	11.6×	+1.1×	Jan 31, 2014
2013	$25B	$2.37B	10.5×	+1.0×	Jan 31, 2013
2012	$15.8B	$1.67B	9.5×	-3.7×	Jan 31, 2012
2011	$16.8B	$1.28B	13.2×	+5.4×	Jan 31, 2011
2010	$8.11B	$1.04B	7.8×	+3.0×	Jan 31, 2010
2009	$3.22B	$672M	4.8×	-8.6×	Jan 31, 2009
2008	$6.07B	$452M	13.4×	-4.1×	Jan 31, 2008
2007	$4.93B	$282M	17.5×	-4.9×	Jan 31, 2007
2006	$4.4B	$196M	22.4×	+15.3×	Jan 31, 2006
2005	$1.03B	$145M	7.1×	—	Jan 31, 2005
2004	$509M	-$46.2M	—	—	Jan 31, 2004


Zebra Technologies (ZBRA)	2.9×
Zoom Communications (ZM)	2.9×
Fortive (FTV)	2.9×
IREN (IREN)	2.8×
Trimble (TRMB)	2.7×
Twilio (TWLO)	2.5×
Amkor Technology (AMKR)	2.5×
First Solar (FSLR)	2.1×
EPAM Systems (EPAM)	2.1×
Qorvo (QRVO)	2.1×
IonQ (IONQ)	2.1×
Intel (INTC)	2.0×
Roper Technologies (ROP)	2.0×
Cognizant (CTSH)	1.9×
Okta (OKTA)	1.9×
Super Micro Computer (SMCI)	1.8×
Lyft (LYFT)	1.7×
Block (XYZ)	1.7×
Hewlett Packard Enterprise (HPE)	1.5×
Fidelity National Information Services (FIS)	1.5×
Skyworks Solutions (SWKS)	1.4×
Fiserv (FISV)	1.1×
Sunrun (RUN)	1.0×
Strategy (MSTR)	0.9×
IBM (IBM)	0.0×

P/B Ratio for Salesforce (CRM) 2005-2026

P/B Ratio daily chart for Salesforce (CRM)

Historical P/B Ratio for Salesforce (CRM) from 2004 to 2026

About P/B Ratio at Salesforce (CRM)

Salesforce P/B Ratio by Year

Salesforce P/B Ratio 2026: 3.4×

Salesforce P/B Ratio 2025: 5.4×

Salesforce P/B Ratio 2024: 4.6×

Salesforce P/B Ratio 2023: 2.8×

Salesforce P/B Ratio 2022: 3.9×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

Salesforce (CRM) Key Financials