Salesforce
CRM · Application Software
$248.57
0.7%Workday
WDAY · Application Software
$209.99
0.0%The short version
- Salesforce is the larger business, with $41.5B of revenue in fiscal 2026 against $9.6B for Workday, about 4.3 times as much.
- Workday grew revenue faster (13.1%, against 9.6%).
- Salesforce kept more of each dollar of sales as operating profit (20.1% operating margin, against 7.6% operating margin).
- Salesforce turned more of its sales into free cash flow (34.7% FCF margin, against 29.1% FCF margin).
- Investors pay more for each dollar of Workday’s earnings: a P/E of 42.5x against 22.7x for Salesforce.
| Latest fiscal year | CRM · FY26 | WDAY · FY26 |
|---|---|---|
| Size | ||
| Market cap | $204.1B | $51.7B |
| Revenue | $41.5B | $9.6B |
| Free cash flow | $14.4B | $2.8B |
| Net income | $7.5B | $693M |
| Growth | ||
| Revenue growth | 9.6% | 13.1% |
| 5-year growth | 14.3% | 17.2% |
| Share count change | −1.9% | −0.4% |
| Profitability | ||
| Gross margin | 77.7% | — |
| Operating margin | 20.1% | 7.6% |
| Net margin | 18.0% | 7.3% |
| FCF margin | 34.7% | 29.1% |
| Return on capital | 10.8% | 10.6% |
| Return on equity | 12.4% | 8.2% |
| Balance sheet | ||
| Net debt | $5.4B | −$2.5B |
| Net debt / EBITDA | 0.6x | −2.6x |
| Dividends and buybacks | $14.2B | $2.9B |
| Valuation & quality | ||
| P/E | 22.7x | 42.5x |
| Piotroski F-score | 7 | 7 |
FY17
CRM $8.4B
WDAY $1.6B
FY18
CRM $10.5B
WDAY $2.1B
FY19
CRM $13.3B
WDAY $2.8B
FY20
CRM $17.1B
WDAY $3.6B
FY21
CRM $21.3B
WDAY $4.3B
FY22
CRM $26.5B
WDAY $5.1B
FY23
CRM $31.4B
WDAY $6.2B
FY24
CRM $34.9B
WDAY $7.3B
FY25
CRM $37.9B
WDAY $8.4B
FY26
CRM $41.5B
WDAY $9.6B
CRM
WDAY
FY17
CRM 2.6%
WDAY −22.4%
FY18
CRM 4.3%
WDAY −14.2%
FY19
CRM 4.0%
WDAY −16.4%
FY20
CRM 1.7%
WDAY −13.9%
FY21
CRM 2.1%
WDAY −5.8%
FY22
CRM 2.1%
WDAY −2.3%
FY23
CRM 3.3%
WDAY −3.6%
FY24
CRM 14.4%
WDAY 2.5%
FY25
CRM 19.0%
WDAY 4.9%
FY26
CRM 20.1%
WDAY 7.6%
CRM
WDAY
FY17
CRM $1.7B
WDAY $230M
FY18
CRM $2.2B
WDAY $324M
FY19
CRM $2.8B
WDAY $404M
FY20
CRM $3.7B
WDAY $621M
FY21
CRM $4.1B
WDAY $1.0B
FY22
CRM $5.3B
WDAY $1.4B
FY23
CRM $6.3B
WDAY $1.3B
FY24
CRM $9.5B
WDAY $1.9B
FY25
CRM $12.4B
WDAY $2.2B
FY26
CRM $14.4B
WDAY $2.8B
CRM
WDAY
FY17
CRM 3.8%
WDAY —
FY18
CRM 5.0%
WDAY —
FY19
CRM 4.9%
WDAY −16.4%
FY20
CRM 0.7%
WDAY −18.3%
FY21
CRM 1.5%
WDAY −11.8%
FY22
CRM 1.1%
WDAY −5.4%
FY23
CRM 0.9%
WDAY −6.8%
FY24
CRM 7.4%
WDAY 6.4%
FY25
CRM 10.7%
WDAY 9.4%
FY26
CRM 10.8%
WDAY 10.6%
CRM
WDAY
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.