Salesforce, Inc. vs CLOUDFLARE, INC., two Software stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Where CRM and NET diverge most: on operating margin, CRM reads 21.1% and NET reads -9.7%; on net margin, CRM reads 15.6% and NET reads -3.7%. The rest of the comparable metrics sit closer together. What CRM's price implies is a bet that sits within the historical range (whole-company basis). What NET's price implies is a somewhat stretched bet versus history (revenue-multiple basis). The bull and bear cases for each are in their full reports below.
| Metric | CRM | NET |
|---|---|---|
| Price | $163.63 | $262.22 |
| Market cap | $142.5B | $92.5B |
| Sector | Software | Software |
| Stage | Mature | Growth |
| Implied growth (priced in) | +11.2% | — |
| P/E | 19.0 | — |
| P/B | 4.16 | 60.57 |
| P/S | 3.33 | 39.71 |
| EV/EBITDA | 13.8 | 4234.7 |
| Revenue growth | +10.9% | +31.4% |
| Gross margin | 76.9% | 71.2% |
| Operating margin | 21.1% | -9.7% |
| Net margin | 15.6% | -3.7% |
| Return on equity | 19.5% | -5.7% |
| Return on assets | 6.2% | -1.4% |
| Return on invested capital | 9.2% | -4.1% |
| FCF yield | 10.3% | 0.3% |
| Debt / equity | 1.15 | 1.29 |
| Current ratio | 0.79 | 1.96 |
| Altman Z (solvency) | 1.90 | 6.51 |
| Piotroski F (quality) | 6 / 9 | 5 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.