Short answer
Salesforce (CRM) filed its fiscal 2026 10-K annual report with the SEC on Mar 2, 2026. It reported revenue of $41.5B (+9.6% year over year) and net income of $7.5B.
- Top risk flagged: EU AI Act + GDPR creating compliance complexity; CJEU invalidated EU-US Privacy Shield in 2020, replacement Data Privacy Framework faces ongoing legal challenges
FY2026 key financial metrics · XBRL
- Revenue
- $41.5B
- +9.6% YoY
- Net income
- $7.5B
- +20.3% YoY
- Operating margin
- 20.1%
- +1.0 pp YoY
- Gross margin
- 77.7%
- +0.5 pp YoY
- EPS (diluted)
- $7.80
- +22.6% YoY
- ROE
- 12.6%
- +2.5 pp YoY
- Operating cash flow
- $15.0B
- +14.5% YoY
Source: XBRL data from the Salesforce (CRM) FY2026 10-K on SEC EDGAR. USD.
Salesforce FY2026 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Global CRM platform sold primarily via subscription; unifies sales, service, marketing, commerce, and data on single AI-powered Agentforce 360 Platform
- Agentforce (autonomous AI agents) and Data 360 (hyperscale data engine) positioned as core new offerings; Informatica acquisition closed Q4 FY2026, adding enterprise data management
- Strategic pivot to "Agentic Enterprise" framing: Agentforce embedded across all products, repositioning Salesforce from CRM vendor to AI agent infrastructure provider
- 83,334 employees as of January 31, 2026; internal "4R's" reskilling strategy (redesign, reskill, redeploy, rebalance) launched around AI/agent literacy readiness
- MuleSoft Agent Fabric introduced this year: enables governance and orchestration of AI agents regardless of origin, extending platform beyond Salesforce-native agents
Management Discussion & Analysis
- Revenue $41.5B, up 10% YoY; subscription/support +$3.7B to $39.4B; professional services down 4% to $2.1B
- Operating margin ~20% vs ~19% prior year; income from operations $8.3B vs $7.2B
- Best segment: Agentforce 360 Platform/Slack grew fastest; Agentforce Service largest at $9.8B; professional services worst, down 4% YoY
- Operating cash flow $15.0B (+15% YoY); capex $594M; buybacks $12.7B (~50M shares); dividends $1.6B; Informatica acquired for ~$9.6B ($6.0B debt-funded)
- RPO $72.4B (+14% YoY); management targets ongoing opex efficiency, AI/Agentforce investment; risks include FX volatility, rising interest expense from $6.0B Informatica debt
Risk Factors
- EU AI Act + GDPR creating compliance complexity; CJEU invalidated EU-US Privacy Shield in 2020, replacement Data Privacy Framework faces ongoing legal challenges
- Informatica acquisition financed with full $6.0B drawn under Informatica Credit Agreements in November 2025, adding substantial leverage to balance sheet
- AI-native startups and competitors integrating generative AI/LLMs as core architecture risk displacing Salesforce's traditional CRM workflows
- Geopolitical risk from US-China and US-Russia tensions affecting international sales; export controls on cloud/AI services tightening with sanctions enforcement escalating
- CEO key-person dependency explicitly named; AI engineer talent scarcity compounded by evolving immigration/visa restrictions on skilled tech workers
Generated from the filing text; verify against the original. How to read a 10-K
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