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DCF Valuation
Base-case fair value
$610.81
Intrinsic $814.41 · 25% MOS
Current price: $151.78
Base-case summary
Our base-case DCF for Salesforce, Inc. (CRM) projects 10 years of free cash flow growth at 20.0% for years 1–5 and 10.0% for years 6–10, anchored to 22.6% historical FCF growth, then applies a 2.5% perpetual growth rate and a 8.0% discount rate. Starting from $14.7B in trailing free cash flow, this produces an intrinsic value of $814.41 per share. A 25% safety margin gives a fair value of $610.81, suggesting the stock is currently 302% undervalued against the $151.78 market price.
See 3 scenarios side by side
Conservative, Base, and Optimistic fair values, plus the sensitivity matrix and FCF history. Free account.
Model inputs
TTM Free Cash Flow
$14.7B
Cash & equivalents
$11.8B
Total debt
$42.5B
Shares outstanding
871M