Salesforce (FRA:FOO0) Cyclically Adjusted PB Ratio: (As of Aug. 27, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

FRA:FOO0 Salesforce Inc FRA:FOO0
86 GF Score
Price €9.15
GF Value €14.85
Valuation Significantly Undervalued
! 3 Warning Signs
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What is Salesforce Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Salesforce  (FRA:FOO0) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Salesforce Cyclically Adjusted PB Ratio Related Terms


Salesforce Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Salesforce's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Salesforce Cyclically Adjusted PB Ratio Chart

Salesforce Annual Data
Trend Jan17 Jan18 Jan19 Jan20 Jan21 Jan22 Jan23 Jan24 Jan25 Jan26
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 11.35 6.13 8.35 8.52 4.56

Salesforce Quarterly Data
Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24 Jan25 Apr25 Jul25 Oct25 Jan26 Apr26 Jul26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.93 5.77 4.56 3.65 0.00

FRA:FOO0 vs UBER, SHOP, NOW: Cyclically Adjusted PB Ratio Comparison

For the Software - Application subindustry, Salesforce's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Salesforce Cyclically Adjusted PB Ratio vs Software Industry

For the Software industry and Technology sector, Salesforce's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Salesforce's Cyclically Adjusted PB Ratio falls into.


FRA:FOO0
86GF Score
Salesforce Inc FRA:FOO0
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Salesforce Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Salesforce's Cyclically Adjusted Book per Share for the quarter that ended in Jul. 2026 is calculated as:

For example, Salesforce's adjusted Book Value per Share data for the three months ended in Jul. 2026 was:

Adj_Book=Book Value per Share/CPI of Jul. 2026 (Change)*Current CPI (Jul. 2026)
=2.382/333.9180*333.9180
=2.382

Current CPI (Jul. 2026) = 333.9180.

Salesforce Quarterly Data

Book Value per Share CPI Adj_Book
201610 0.517 241.729 0.714
201701 0.580 242.839 0.798
201704 0.605 244.524 0.826
201707 0.595 244.786 0.812
201710 0.607 246.663 0.822
201801 0.679 247.867 0.915
201804 0.715 250.546 0.953
201807 0.891 252.006 1.181
201810 0.973 252.885 1.285
201901 1.034 251.712 1.372
201904 1.100 255.548 1.437
201907 1.143 256.571 1.488
201910 1.978 257.346 2.567
202001 1.991 257.971 2.577
202004 2.060 256.389 2.683
202007 2.145 259.101 2.764
202010 2.183 260.388 2.799
202101 2.159 261.582 2.756
202104 2.241 267.054 2.802
202107 2.797 273.003 3.421
202110 2.911 276.589 3.514
202201 3.026 281.148 3.594
202204 3.194 289.109 3.689
202207 3.444 296.276 3.882
202210 3.540 298.012 3.967
202301 3.215 299.170 3.588
202304 3.121 303.363 3.435
202307 3.136 305.691 3.426
202310 3.306 307.671 3.588
202401 3.284 308.417 3.556
202404 3.336 313.548 3.553
202407 3.230 314.540 3.429
202410 3.273 315.664 3.462
202501 3.577 317.671 3.760
202504 3.282 320.795 3.416
202507 3.205 323.048 3.313
202510 3.188 0.000
202601 3.155 325.252 3.239
202604 2.081 333.020 2.087
202607 2.382 333.918 2.382

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Salesforce (FRA:FOO0) Overvalued in 2026?

Based on GuruFocus' analysis, Salesforce stock appears to be undervalued. The current stock price of €9.15 is trading 38.4% below its estimated GF Value™ of €14.85. GuruFocus considers Salesforce to be Significantly Undervalued.

Key valuation signals for FRA:FOO0:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €14.85 vs. price of €9.15 (38.4% below fair value)
  • GF Score™: 86/100 with 3 warning signs

No single metric tells the full story. See the FRA:FOO0 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Salesforce Business Description

Address 415 Mission Street, 3rd Floor, Salesforce Tower, San Francisco, CA, USA, 94105
Salesforce provides enterprise cloud computing solutions. The company offers customer relationship management technology that brings companies and customers together. Its Customer 360 platform helps the group deliver a single source of truth, connecting customer data across systems, apps, and devices to help companies sell, service, market, and conduct commerce. It also offers Service Cloud for customer support, Marketing Cloud for digital marketing campaigns, Commerce Cloud as an e-commerce engine, the Salesforce Platform, which allows enterprises to build applications, and other solutions, such as MuleSoft for data integration.
86GF Score

Get the complete analysis for FRA:FOO0

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€9.15
Price
€14.85
GF Value