Salesforce, Inc.

AI-generated fair value estimate for this company.

Method: 10-year two-stage FCFE DCF: $15.0B TTM free cash flow base; 8% annual FCF growth for years 1-5 (consistent with management's >$63B FY2030 revenue target, roughly 11% revenue CAGR, tempered for margin and stock-based-compensation dilution risk); 6% for years 6-10; 9.5% discount rate; 2.5% terminal growth; $34.07B net debt ($42.38B total debt, swollen by recent acquisitions, less $8.31B cash); 823.0M shares outstanding.

Reasoning: Salesforce has guided explicitly to over $63B of FY2030 revenue (about an 11% CAGR from FY2026's $41.5B) and continues to generate high-margin recurring-revenue free cash flow, but a higher discount rate and FCF-growth haircut versus the revenue target account for share dilution from stock-based compensation and integration risk from recent large acquisitions that increased leverage.