Question 1

What is Salesforce's P/B ratio?

Accepted Answer

Salesforce (CRM) P/B ratio is 4.7× as of June 5, 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 6.0×.

Question 5

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

Accepted Answer

Salesforce's P/B ratio of 4.7× is above its own 5-year average of 4.0× and below the sector median of 6.0×. That places the current reading at the 79th 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	$198.49B	$59.14B	3.4×	-2.0×	Jan 31, 2026
2025	$327.69B	$61.17B	5.4×	+0.8×	Jan 31, 2025
2024	$272.66B	$59.65B	4.6×	+1.7×	Jan 31, 2024
2023	$165.28B	$58.36B	2.8×	-1.1×	Jan 31, 2023
2022	$229.14B	$58.13B	3.9×	-1.1×	Jan 31, 2022
2021	$209.27B	$41.49B	5.0×	+0.3×	Jan 31, 2021
2020	$162.07B	$33.88B	4.8×	-2.7×	Jan 31, 2020
2019	$116.41B	$15.61B	7.5×	-0.5×	Jan 31, 2019
2018	$82.49B	$10.38B	7.9×	+0.6×	Jan 31, 2018
2017	$55.45B	$7.50B	7.4×	-1.4×	Jan 31, 2017
2016	$44.01B	$5.00B	8.8×	-0.3×	Jan 31, 2016
2015	$35.97B	$3.98B	9.0×	-2.6×	Jan 31, 2015
2014	$35.69B	$3.07B	11.6×	+1.1×	Jan 31, 2014
2013	$24.95B	$2.37B	10.5×	+1.0×	Jan 31, 2013
2012	$15.80B	$1.67B	9.5×	-3.7×	Jan 31, 2012
2011	$16.81B	$1.28B	13.2×	+5.4×	Jan 31, 2011
2010	$8.11B	$1.04B	7.8×	+3.0×	Jan 31, 2010
2009	$3.22B	$671.78M	4.8×	-8.6×	Jan 31, 2009
2008	$6.07B	$452.06M	13.4×	-4.1×	Jan 31, 2008
2007	$4.93B	$281.79M	17.5×	-4.9×	Jan 31, 2007
2006	$4.40B	$196.37M	22.4×	+15.3×	Jan 31, 2006
2005	$1.03B	$145.13M	7.1×	—	Jan 31, 2005
2004	$509.21M	−$46.24M	—	—	Jan 31, 2004


Duolingo (DUOL)	3.3×
Unity Software (U)	3.2×
Synopsys (SNPS)	3.0×
Science Applications International (SAIC)	2.9×
Zebra Technologies (ZBRA)	2.9×
Zoom Communications (ZM)	2.9×
Trimble (TRMB)	2.7×
Twilio (TWLO)	2.5×
Amkor Technology (AMKR)	2.5×
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×
Block (SQ)	1.6×
Hewlett Packard Enterprise (HPE)	1.5×
Fidelity National Information Services (FIS)	1.5×
Skyworks Solutions (SWKS)	1.4×
Fiserv (FISV)	1.1×
Strategy (MSTR)	0.9×

P/B Ratio for Salesforce (CRM)

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

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

+What is Salesforce's P/B ratio?

+How is the P/B ratio calculated?

+What is the P/B ratio?

+What is a good P/B ratio for Salesforce?

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

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

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

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

Salesforce (CRM) Key Financials