Salesforce vs ServiceNow CRM vs NOW

Salesforce and ServiceNow on one sheet: valuation multiples, growth, margins, debt, dividends and returns, each section labelled with the period it covers, from the companies' filings. Add or remove a stock above the sheet; the link holds the set.

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CRMNOW

Often compared:+ MSFT + WDAY

What differs most

generated from the numbers below

Trailing P/E: ServiceNow 88.6×, Salesforce 22.0×.
Free-cash-flow yield: Salesforce 7.3%, ServiceNow 3.1%.
Price / sales: ServiceNow 10.0×, Salesforce 4.5×.
Net margin: Salesforce 22.0%, ServiceNow 11.3%.
ServiceNow paid no dividend in the last twelve months.

Price return

2025-10-16 → 2026-10-16

CRM−2.2%

NOW−20.6%

Prices at the close on 2026-10-16

$240.70

$141.97

Profile

latest

Sector

Technology

Industry

Software - Application

Market value

$198.10B

$146.78B

Enterprise value

$229.07B

$151.79B

Employees

83,334

29,187

Revenue per employee (TTM)

$527K

$505K

Our models

nightlythe valuation on each stock's page

Price vs model

37% overvalued vs model

264% overvalued vs model

Model range

$116–354

$24.65–94.06

Models in the headline

FCF growth priced in, at a 10% return

3.3%

17.8%

Every model, its assumptions and its range: CRM valuation · NOW valuation. The growth priced in, at any return: CRM reverse DCF · NOW reverse DCF.

Trading

close 2026-10-16

Last close

$240.70

$141.97

52-week high

$266.23

$189.26

52-week low

$150.12

$83.00

Price vs 52-week high

−9.6%

−25.0%

Price vs 52-week low

+60.3%

+71.0%

Average daily volume / shares

1.4%

1.8%

Beta

1.26

0.99

Returns

to 2026-10-16

1 month

−3.9%

+1.5%

3 months

+39.4%

+36.5%

6 months

+32.8%

+47.2%

Year to date

−9.1%

−7.3%

1 year

−2.2%

−20.6%

1 year, dividends added

−1.4%

−20.6%

2 years

−17.2%

−22.7%

Valuation

CRM price × TTM to Jul 2026 · NOW price × TTM to Jun 2026

P/E (TTM)

22.0×

88.6×

P/E on consensus EPS (next FY)

14.4×

34.9×

Price / sales

4.5×

10.0×

EV / sales

5.2×

10.3×

EV / EBITDA

16.5×

—

Price / book

5.2×

11.7×

Price / free cash flow (FY)

13.8×

32.1×

Free-cash-flow yield (FY)

7.3%

3.1%

Growth

CRM TTM and FY2026 · NOW TTM and FY2025

Revenue growth (TTM)

+9.0%

—

Revenue growth, consensus next FY

+11.5%

+22.1%

Revenue, 3-year CAGR

9.8%

22.4%

Revenue, 5-year CAGR

14.3%

24.1%

EPS growth (TTM)

+46.3%

—

EPS growth, consensus next FY

+114.8%

+143.9%

EPS, 3-year CAGR

233.7%

73.5%

Free cash flow, 3-year CAGR

31.6%

28.2%

Diluted shares, 3-year change

−4.1%

+2.9%

Profitability

CRM TTM to Jul 2026 · NOW TTM to Jun 2026

Gross margin (FY)†

77.7%

77.5%

Operating margin

21.2%

11.4%

EBITDA margin

31.5%

—

Net margin

22.0%

11.3%

Free-cash-flow margin (FY)

34.7%

34.5%

Return on equity

25.2%

13.3%

Return on assets

8.8%

5.3%

Asset turnover

0.40

0.47

† Gross margin (FY): As filed. Companies draw the cost-of-revenue line in different places, so gross margins of two companies in one industry can differ for that reason alone; operating margin does not depend on where the line is drawn.

Balance sheet

CRM MRQ Jul 2026 · NOW MRQ Jun 2026

Cash

$8.31B

$2.50B

Total debt

$39.29B

$7.52B

Net debt

$30.98B

$5.01B

Debt / equity

1.0×

0.6×

Net debt / EBITDA (TTM)

2.2×

—

Interest coverage (FY)

0.0×

Current ratio (FY)

0.76

0.95

Dividends

trailing 12 months

Dividend yield

0.7%

0.0%

Dividends per share

$1.74

$0.00

Payout ratio (of TTM EPS)

15.8%

—

Dividend per share, 5-year CAGR

—

Frequency

Quarterly

—

Ownership and activity

last 90 days · latest 13F

Tracked superinvestors holding (13F)

Insider open-market buys (Form 4)

$999K

Insider sales (Form 4)

$1.2M

$1.7M

Analyst upgrades

Analyst downgrades

Statements

CRM income TTM to Jul 2026 · cash flow FY2026 · NOW income TTM to Jun 2026 · cash flow FY2025

Revenue

$43.94B

$14.73B

EBITDA

$13.85B

—

Operating income

$9.32B

$1.68B

Net income

$9.66B

$1.67B

EPS (diluted)

$10.96

$1.60

Operating cash flow

$15.00B

$5.44B

Capital expenditure

−$594.0M

−$868.0M

Free cash flow

$14.40B

$4.58B

Dividends paid

$1.59B

Keep comparing

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Salesforce against

CRM vs MSFT

ServiceNow against

NOW vs WDAY

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Statements from the companies' SEC filings; prices, dividends and consensus estimates from Financial Modeling Prep; insider trades from Form 4 and holdings from 13F. Refreshed nightly. A comparison of filed numbers, not a recommendation to buy, sell or hold any security.