Salesforce Inc., adjustment to net income

US$ in millions

12 months ended:	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020	Jan 31, 2019
Net income (as reported)	4,136)	208)	1,444)	4,072)	126)	1,110)
Add: Unrealized gains (losses) on marketable securities and privately held debt securities	83)	(94)	(83)	15)	26)	(12)
Net income (adjusted)	4,219)	114)	1,361)	4,087)	152)	1,098)

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Salesforce Inc., adjusted profitability ratios

	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020	Jan 31, 2019
Net Profit Margin
Reported net profit margin	11.87%	0.66%	5.45%	19.16%	0.74%	8.36%
Adjusted net profit margin	12.10%	0.36%	5.14%	19.23%	0.89%	8.27%
Return on Equity (ROE)
Reported ROE	6.93%	0.36%	2.48%	9.81%	0.37%	7.11%
Adjusted ROE	7.07%	0.20%	2.34%	9.85%	0.45%	7.04%
Return on Assets (ROA)
Reported ROA	4.14%	0.21%	1.52%	6.14%	0.23%	3.61%
Adjusted ROA	4.23%	0.12%	1.43%	6.16%	0.28%	3.57%

Profitability ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by revenue.	Salesforce Inc. adjusted net profit margin ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by shareholders’ equity.	Salesforce Inc. adjusted ROE deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by total assets.	Salesforce Inc. adjusted ROA deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

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	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020	Jan 31, 2019
As Reported
Selected Financial Data (US$ in millions)
Net income	4,136)	208)	1,444)	4,072)	126)	1,110)
Revenues	34,857)	31,352)	26,492)	21,252)	17,098)	13,282)
Profitability Ratio
Net profit margin¹	11.87%	0.66%	5.45%	19.16%	0.74%	8.36%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net income	4,219)	114)	1,361)	4,087)	152)	1,098)
Revenues	34,857)	31,352)	26,492)	21,252)	17,098)	13,282)
Profitability Ratio
Adjusted net profit margin²	12.10%	0.36%	5.14%	19.23%	0.89%	8.27%

2024 Calculations

¹ Net profit margin = 100 × Net income ÷ Revenues
= 100 × 4,136 ÷ 34,857 = 11.87%

² Adjusted net profit margin = 100 × Adjusted net income ÷ Revenues
= 100 × 4,219 ÷ 34,857 = 12.10%

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Profitability ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by revenue.	Salesforce Inc. adjusted net profit margin ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020	Jan 31, 2019
As Reported
Selected Financial Data (US$ in millions)
Net income	4,136)	208)	1,444)	4,072)	126)	1,110)
Stockholders’ equity	59,646)	58,359)	58,131)	41,493)	33,885)	15,605)
Profitability Ratio
ROE¹	6.93%	0.36%	2.48%	9.81%	0.37%	7.11%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net income	4,219)	114)	1,361)	4,087)	152)	1,098)
Stockholders’ equity	59,646)	58,359)	58,131)	41,493)	33,885)	15,605)
Profitability Ratio
Adjusted ROE²	7.07%	0.20%	2.34%	9.85%	0.45%	7.04%

2024 Calculations

¹ ROE = 100 × Net income ÷ Stockholders’ equity
= 100 × 4,136 ÷ 59,646 = 6.93%

² Adjusted ROE = 100 × Adjusted net income ÷ Stockholders’ equity
= 100 × 4,219 ÷ 59,646 = 7.07%

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Profitability ratio	Description	The company
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by shareholders’ equity.	Salesforce Inc. adjusted ROE deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020	Jan 31, 2019
As Reported
Selected Financial Data (US$ in millions)
Net income	4,136)	208)	1,444)	4,072)	126)	1,110)
Total assets	99,823)	98,849)	95,209)	66,301)	55,126)	30,737)
Profitability Ratio
ROA¹	4.14%	0.21%	1.52%	6.14%	0.23%	3.61%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net income	4,219)	114)	1,361)	4,087)	152)	1,098)
Total assets	99,823)	98,849)	95,209)	66,301)	55,126)	30,737)
Profitability Ratio
Adjusted ROA²	4.23%	0.12%	1.43%	6.16%	0.28%	3.57%

2024 Calculations

¹ ROA = 100 × Net income ÷ Total assets
= 100 × 4,136 ÷ 99,823 = 4.14%

² Adjusted ROA = 100 × Adjusted net income ÷ Total assets
= 100 × 4,219 ÷ 99,823 = 4.23%

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Profitability ratio	Description	The company
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by total assets.	Salesforce Inc. adjusted ROA deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

Salesforce Inc. (NYSE:CRM)

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