Adjusted Financial Ratios (Summary)
Adjusted Total Asset Turnover
Adjusted Current Ratio
Adjusted Debt to Equity
Adjusted Debt to Capital
Adjusted Financial Leverage
Adjusted Net Profit Margin
Adjusted Return on Equity (ROE)
Adjusted Return on Assets (ROA)

Salesforce Inc., adjusted financial ratios

	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020	Jan 31, 2019
Activity Ratio
Total Asset Turnover
Reported	0.35	0.32	0.28	0.32	0.31	0.43
Adjusted	0.37	0.34	0.31	0.36	0.35	0.44
Liquidity Ratio
Current Ratio
Reported	1.09	1.02	1.05	1.23	1.08	0.95
Adjusted	3.87	3.34	3.71	4.27	3.82	3.97
Solvency Ratios
Debt to Equity
Reported	0.17	0.20	0.19	0.07	0.09	0.22
Adjusted	0.18	0.20	0.20	0.12	0.14	0.28
Debt to Capital
Reported	0.15	0.16	0.16	0.06	0.08	0.18
Adjusted	0.15	0.17	0.17	0.11	0.12	0.22
Financial Leverage
Reported	1.67	1.69	1.64	1.60	1.63	1.97
Adjusted	1.28	1.30	1.30	1.23	1.23	1.41
Profitability Ratios
Net Profit Margin
Reported	11.87%	0.66%	5.45%	19.16%	0.74%	8.36%
Adjusted	12.56%	6.41%	13.85%	18.44%	11.54%	15.87%
Return on Equity (ROE)
Reported	6.93%	0.36%	2.48%	9.81%	0.37%	7.11%
Adjusted	6.00%	2.84%	5.64%	8.15%	4.96%	9.79%
Return on Assets (ROA)
Reported	4.14%	0.21%	1.52%	6.14%	0.23%	3.61%
Adjusted	4.70%	2.18%	4.35%	6.61%	4.02%	6.92%

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).

Financial ratio	Description	The company
Adjusted total asset turnover	An activity ratio calculated as total revenue divided by adjusted total assets.	Salesforce Inc. adjusted total asset turnover ratio improved from 2022 to 2023 and from 2023 to 2024.
Adjusted current ratio	A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities.	Salesforce Inc. adjusted current ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.
Adjusted debt-to-equity ratio	A solvency ratio calculated as adjusted total debt divided by adjusted total equity.	Salesforce Inc. adjusted debt-to-equity ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.
Adjusted debt-to-capital ratio	A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity.	Salesforce Inc. adjusted debt-to-capital ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.
Adjusted financial leverage	A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.	Salesforce Inc. adjusted financial leverage ratio increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by total revenue.	Salesforce Inc. adjusted net profit margin ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level.
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by adjusted total 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 adjusted total assets.	Salesforce Inc. adjusted ROA deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

Salesforce Inc., Financial Ratios: Reported vs. Adjusted

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	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020	Jan 31, 2019
Reported
Selected Financial Data (US$ in millions)
Revenues	34,857)	31,352)	26,492)	21,252)	17,098)	13,282)
Total assets	99,823)	98,849)	95,209)	66,301)	55,126)	30,737)
Activity Ratio
Total asset turnover¹	0.35	0.32	0.28	0.32	0.31	0.43
Adjusted
Selected Financial Data (US$ in millions)
Adjusted revenues²	36,484)	33,100)	29,513)	23,197)	19,196)	14,851)
Adjusted total assets³	97,420)	97,145)	93,927)	64,717)	55,126)	34,051)
Activity Ratio
Adjusted total asset turnover⁴	0.37	0.34	0.31	0.36	0.35	0.44

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).

¹ 2024 Calculation
Total asset turnover = Revenues ÷ Total assets
= 34,857 ÷ 99,823 = 0.35

² Adjusted revenues. See details »

³ Adjusted total assets. See details »

⁴ 2024 Calculation
Adjusted total asset turnover = Adjusted revenues ÷ Adjusted total assets
= 36,484 ÷ 97,420 = 0.37

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Activity ratio	Description	The company
Adjusted total asset turnover	An activity ratio calculated as total revenue divided by adjusted total assets.	Salesforce Inc. adjusted total asset turnover ratio improved from 2022 to 2023 and from 2023 to 2024.

	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020	Jan 31, 2019
Reported
Selected Financial Data (US$ in millions)
Current assets	29,074)	26,395)	22,850)	21,889)	15,963)	10,683)
Current liabilities	26,631)	25,891)	21,788)	17,728)	14,845)	11,255)
Liquidity Ratio
Current ratio¹	1.09	1.02	1.05	1.23	1.08	0.95
Adjusted
Selected Financial Data (US$ in millions)
Current assets	29,074)	26,395)	22,850)	21,889)	15,963)	10,683)
Adjusted current liabilities²	7,508)	7,908)	6,160)	5,121)	4,183)	2,691)
Liquidity Ratio
Adjusted current ratio³	3.87	3.34	3.71	4.27	3.82	3.97

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).

¹ 2024 Calculation
Current ratio = Current assets ÷ Current liabilities
= 29,074 ÷ 26,631 = 1.09

² Adjusted current liabilities. See details »

³ 2024 Calculation
Adjusted current ratio = Current assets ÷ Adjusted current liabilities
= 29,074 ÷ 7,508 = 3.87

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Liquidity ratio	Description	The company
Adjusted current ratio	A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities.	Salesforce Inc. adjusted current 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
Reported
Selected Financial Data (US$ in millions)
Total debt	10,400)	11,392)	10,981)	2,805)	3,062)	3,367)
Stockholders’ equity	59,646)	58,359)	58,131)	41,493)	33,885)	15,605)
Solvency Ratio
Debt to equity¹	0.17	0.20	0.19	0.07	0.09	0.22
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt²	13,562)	14,879)	14,370)	6,413)	6,257)	6,785)
Adjusted stockholders’ equity³	76,366)	74,638)	72,477)	52,516)	44,699)	24,065)
Solvency Ratio
Adjusted debt to equity⁴	0.18	0.20	0.20	0.12	0.14	0.28

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).

¹ 2024 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= 10,400 ÷ 59,646 = 0.17

² Adjusted total debt. See details »

³ Adjusted stockholders’ equity. See details »

⁴ 2024 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted stockholders’ equity
= 13,562 ÷ 76,366 = 0.18

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Solvency ratio	Description	The company
Adjusted debt-to-equity ratio	A solvency ratio calculated as adjusted total debt divided by adjusted total equity.	Salesforce Inc. adjusted debt-to-equity 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
Reported
Selected Financial Data (US$ in millions)
Total debt	10,400)	11,392)	10,981)	2,805)	3,062)	3,367)
Total capital	70,046)	69,751)	69,112)	44,298)	36,947)	18,972)
Solvency Ratio
Debt to capital¹	0.15	0.16	0.16	0.06	0.08	0.18
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt²	13,562)	14,879)	14,370)	6,413)	6,257)	6,785)
Adjusted total capital³	89,928)	89,517)	86,847)	58,929)	50,956)	30,850)
Solvency Ratio
Adjusted debt to capital⁴	0.15	0.17	0.17	0.11	0.12	0.22

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).

¹ 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= 10,400 ÷ 70,046 = 0.15

² Adjusted total debt. See details »

³ Adjusted total capital. See details »

⁴ 2024 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= 13,562 ÷ 89,928 = 0.15

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Solvency ratio	Description	The company
Adjusted debt-to-capital ratio	A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity.	Salesforce Inc. adjusted debt-to-capital 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
Reported
Selected Financial Data (US$ in millions)
Total assets	99,823)	98,849)	95,209)	66,301)	55,126)	30,737)
Stockholders’ equity	59,646)	58,359)	58,131)	41,493)	33,885)	15,605)
Solvency Ratio
Financial leverage¹	1.67	1.69	1.64	1.60	1.63	1.97
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total assets²	97,420)	97,145)	93,927)	64,717)	55,126)	34,051)
Adjusted stockholders’ equity³	76,366)	74,638)	72,477)	52,516)	44,699)	24,065)
Solvency Ratio
Adjusted financial leverage⁴	1.28	1.30	1.30	1.23	1.23	1.41

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).

¹ 2024 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= 99,823 ÷ 59,646 = 1.67

² Adjusted total assets. See details »

³ Adjusted stockholders’ equity. See details »

⁴ 2024 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted stockholders’ equity
= 97,420 ÷ 76,366 = 1.28

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Solvency ratio	Description	The company
Adjusted financial leverage	A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.	Salesforce Inc. adjusted financial leverage ratio increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.

	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020	Jan 31, 2019
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
Selected Financial Data (US$ in millions)
Adjusted net income²	4,583)	2,121)	4,087)	4,278)	2,216)	2,357)
Adjusted revenues³	36,484)	33,100)	29,513)	23,197)	19,196)	14,851)
Profitability Ratio
Adjusted net profit margin⁴	12.56%	6.41%	13.85%	18.44%	11.54%	15.87%

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).

¹ 2024 Calculation
Net profit margin = 100 × Net income ÷ Revenues
= 100 × 4,136 ÷ 34,857 = 11.87%

² Adjusted net income. See details »

³ Adjusted revenues. See details »

⁴ 2024 Calculation
Adjusted net profit margin = 100 × Adjusted net income ÷ Adjusted revenues
= 100 × 4,583 ÷ 36,484 = 12.56%

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Profitability ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by total revenue.	Salesforce Inc. adjusted net profit margin ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level.

	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020	Jan 31, 2019
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
Selected Financial Data (US$ in millions)
Adjusted net income²	4,583)	2,121)	4,087)	4,278)	2,216)	2,357)
Adjusted stockholders’ equity³	76,366)	74,638)	72,477)	52,516)	44,699)	24,065)
Profitability Ratio
Adjusted ROE⁴	6.00%	2.84%	5.64%	8.15%	4.96%	9.79%

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).

¹ 2024 Calculation
ROE = 100 × Net income ÷ Stockholders’ equity
= 100 × 4,136 ÷ 59,646 = 6.93%

² Adjusted net income. See details »

³ Adjusted stockholders’ equity. See details »

⁴ 2024 Calculation
Adjusted ROE = 100 × Adjusted net income ÷ Adjusted stockholders’ equity
= 100 × 4,583 ÷ 76,366 = 6.00%

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Profitability ratio	Description	The company
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by adjusted total 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
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
Selected Financial Data (US$ in millions)
Adjusted net income²	4,583)	2,121)	4,087)	4,278)	2,216)	2,357)
Adjusted total assets³	97,420)	97,145)	93,927)	64,717)	55,126)	34,051)
Profitability Ratio
Adjusted ROA⁴	4.70%	2.18%	4.35%	6.61%	4.02%	6.92%

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).

¹ 2024 Calculation
ROA = 100 × Net income ÷ Total assets
= 100 × 4,136 ÷ 99,823 = 4.14%

² Adjusted net income. See details »

³ Adjusted total assets. See details »

⁴ 2024 Calculation
Adjusted ROA = 100 × Adjusted net income ÷ Adjusted total assets
= 100 × 4,583 ÷ 97,420 = 4.70%

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Profitability ratio	Description	The company
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by adjusted 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)

Adjusted Financial Ratios

Adjusted Financial Ratios (Summary)

Salesforce Inc., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Adjusted Current Ratio

Adjusted Debt to Equity

Adjusted Debt to Capital

Adjusted Financial Leverage

Adjusted Net Profit Margin

Adjusted Return on Equity (ROE)

Adjusted Return on Assets (ROA)