# Salesforce CDR (CAD Hedged) (CRM.TO) fundamentals

Data as of 2026-11-04. TSX, Canada. Sector: Technology / Software. Price C$16.84, market value C$238.0 billion.

## Valuation
- **P/E (trailing): 20.5×** (5-yr avg 36.0×, 3-yr avg 36.0×). Salesforce CDR (CAD Hedged) trades at 20.5× trailing earnings, well below its own five-year average of 36.0×: cheap by its own standards. The Technology median in the September 2026 study was 32.1×.
- **Price / sales: 5.4×**. Each dollar of revenue is priced at 5.4×.
- **Price / book: 5.7×**. The shares trade at 5.7× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **EV / EBITDA: 17.5×**. Enterprise value is 17.5× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 6.4%** (5-yr avg 5.4%). Free cash flow equals 6.4% of the market value, in line with its five-year average of 5.4%. Above 5% is generally attractive.
- **Earnings yield: 4.9%**. The inverse of the P/E: 4.9% of the price is earned each year.

## Profitability
- **Gross margin: 77.3%**. Salesforce CDR (CAD Hedged) keeps 77.3% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 21.5%**. 21.5% of revenue is left after running the business, a healthy level in most sectors.
- **Net margin: 18.0%**. 18.0% of each dollar of sales reaches the bottom line.
- **Return on equity: 12.6%**. 12.6% on shareholders' equity is solid.
- **Return on invested capital: 11.0%**. Return on all capital, debt included, is 11.0%.
- **Return on assets: 8.6%**. Each dollar of assets produces 8.6% of profit.

## Growth
- **Revenue growth (1 yr): 9.6%** (3-yr 9.8%/yr). Revenue grew 9.6% over the last year.
- **EPS growth (1 yr): 22.6%** (3-yr 233.7%/yr). Earnings per share rose 22.6%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): 31.6%/yr**. Free cash flow has compounded at 31.6% a year over three years, lagging earnings: check whether profits are turning into cash.

## Financial health
- **Debt to equity: 0.29**. Debt is 0.29 times equity: a conservative balance sheet.
- **Net debt / EBITDA: 0.5×**. It would take 0.5 years of operating earnings to repay net borrowings, within the comfortable range.
- **Current ratio: 0.76** (quick 0.76). Current liabilities exceed current assets, so the company depends on ongoing cash generation or refinancing to pay the next year's bills.
- **Altman Z-score: 4.04**. A Z-score of 4.04 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 7/9**. 7 of 9 fundamental checks pass: strong and improving financials.

## Dividends
- **Dividend: none**. Salesforce CDR (CAD Hedged) does not currently pay a dividend, but it returned 14.7% of its market value through buybacks over the last year.

## Price and momentum
- **From 52-week high: -19.0%** (48.9% above the low). Trading 19% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 42**. An RSI of 42 is neutral.
- **Beta (1 yr): 0.21** (volatility 50%). Beta of 0.21 against the S&P/TSX Composite: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=CRM.TO · Page: https://foliofundamentals.com/stocks/crm.to

Not investment advice.