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Side-by-side financial comparison of Salesforce (CRM) and Smurfit Westrock (SW). Click either name above to swap in a different company.
Salesforce is the larger business by last-quarter revenue ($10.3B vs $7.6B, roughly 1.4× Smurfit Westrock). Salesforce runs the higher net margin — 20.3% vs 1.3%, a 19.1% gap on every dollar of revenue. On growth, Salesforce posted the faster year-over-year revenue change (8.6% vs 0.5%). Salesforce produced more free cash flow last quarter ($2.2B vs $612.0M). Over the past eight quarters, Smurfit Westrock's revenue compounded faster (60.8% CAGR vs 5.1%).
Salesforce, Inc., is an American cloud-based software company headquartered in San Francisco, California. It provides applications focused on sales, customer service, marketing automation, e-commerce, analytics, artificial intelligence, agentic AI, and application development.
Smurfit Westrock plc is an Irish company based in Dublin, Ireland that manufactures corrugated and paper-based packaging. Its stock is listed on the New York Stock Exchange and the London Stock Exchange.
CRM vs SW — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $10.3B | $7.6B |
| Net Profit | $2.1B | $97.0M |
| Gross Margin | 78.0% | 18.2% |
| Operating Margin | 21.3% | 5.1% |
| Net Margin | 20.3% | 1.3% |
| Revenue YoY | 8.6% | 0.5% |
| Net Profit YoY | 36.6% | -33.6% |
| EPS (diluted) | $2.19 | $0.18 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $10.3B | $7.6B | ||
| Q3 25 | $10.2B | $8.0B | ||
| Q2 25 | $9.8B | $7.9B | ||
| Q1 25 | $10.0B | $7.7B | ||
| Q4 24 | $9.4B | $7.5B | ||
| Q3 24 | $9.3B | $7.7B | ||
| Q2 24 | $9.1B | $3.0B | ||
| Q1 24 | $9.3B | $2.9B |
| Q4 25 | $2.1B | $97.0M | ||
| Q3 25 | $1.9B | $246.0M | ||
| Q2 25 | $1.5B | $-28.0M | ||
| Q1 25 | $1.7B | $384.0M | ||
| Q4 24 | $1.5B | $146.0M | ||
| Q3 24 | $1.4B | $-150.0M | ||
| Q2 24 | $1.5B | $132.0M | ||
| Q1 24 | $1.4B | $191.0M |
| Q4 25 | 78.0% | 18.2% | ||
| Q3 25 | 78.1% | 19.6% | ||
| Q2 25 | 77.0% | 19.1% | ||
| Q1 25 | 77.8% | 20.6% | ||
| Q4 24 | 77.7% | 19.1% | ||
| Q3 24 | 76.8% | 17.6% | ||
| Q2 24 | 76.3% | 23.3% | ||
| Q1 24 | 76.9% | 24.2% |
| Q4 25 | 21.3% | 5.1% | ||
| Q3 25 | 22.8% | 6.6% | ||
| Q2 25 | 19.8% | 3.2% | ||
| Q1 25 | 18.2% | 7.2% | ||
| Q4 24 | 20.0% | 5.3% | ||
| Q3 24 | 19.1% | 0.7% | ||
| Q2 24 | 18.7% | 8.2% | ||
| Q1 24 | 17.5% | 10.5% |
| Q4 25 | 20.3% | 1.3% | ||
| Q3 25 | 18.4% | 3.1% | ||
| Q2 25 | 15.7% | -0.4% | ||
| Q1 25 | 17.1% | 5.0% | ||
| Q4 24 | 16.2% | 1.9% | ||
| Q3 24 | 15.3% | -2.0% | ||
| Q2 24 | 16.8% | 4.4% | ||
| Q1 24 | 15.6% | 6.5% |
| Q4 25 | $2.19 | $0.18 | ||
| Q3 25 | $1.96 | $0.47 | ||
| Q2 25 | $1.59 | $-0.05 | ||
| Q1 25 | $1.75 | $0.73 | ||
| Q4 24 | $1.58 | $-0.12 | ||
| Q3 24 | $1.47 | $-0.30 | ||
| Q2 24 | $1.56 | $0.51 | ||
| Q1 24 | $1.47 | $0.73 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $9.0B | $892.0M |
| Total DebtLower is stronger | $8.4B | $13.4B |
| Stockholders' EquityBook value | $60.0B | $18.3B |
| Total Assets | $95.1B | $45.2B |
| Debt / EquityLower = less leverage | 0.14× | 0.73× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $9.0B | $892.0M | ||
| Q3 25 | $10.4B | $851.0M | ||
| Q2 25 | $10.9B | $778.0M | ||
| Q1 25 | $8.8B | $797.0M | ||
| Q4 24 | $8.0B | $855.0M | ||
| Q3 24 | $7.7B | — | ||
| Q2 24 | $10.0B | $26.8K | ||
| Q1 24 | $8.5B | $108 |
| Q4 25 | $8.4B | $13.4B | ||
| Q3 25 | $8.4B | $13.3B | ||
| Q2 25 | $8.4B | $13.3B | ||
| Q1 25 | $8.4B | $12.9B | ||
| Q4 24 | $8.4B | $12.5B | ||
| Q3 24 | $8.4B | $13.2B | ||
| Q2 24 | $9.4B | — | ||
| Q1 24 | $9.4B | — |
| Q4 25 | $60.0B | $18.3B | ||
| Q3 25 | $61.3B | $18.4B | ||
| Q2 25 | $60.7B | $18.3B | ||
| Q1 25 | $61.2B | $17.9B | ||
| Q4 24 | $58.5B | $17.4B | ||
| Q3 24 | $57.6B | $18.0B | ||
| Q2 24 | $59.7B | $14.5K | ||
| Q1 24 | $59.6B | $108 |
| Q4 25 | $95.1B | $45.2B | ||
| Q3 25 | $97.6B | $45.6B | ||
| Q2 25 | $98.6B | $45.7B | ||
| Q1 25 | $102.9B | $44.6B | ||
| Q4 24 | $91.4B | $43.8B | ||
| Q3 24 | $92.2B | $45.0B | ||
| Q2 24 | $96.2B | $26.8K | ||
| Q1 24 | $99.8B | $108 |
| Q4 25 | 0.14× | 0.73× | ||
| Q3 25 | 0.14× | 0.72× | ||
| Q2 25 | 0.14× | 0.73× | ||
| Q1 25 | 0.14× | 0.72× | ||
| Q4 24 | 0.14× | 0.72× | ||
| Q3 24 | 0.15× | 0.73× | ||
| Q2 24 | 0.16× | — | ||
| Q1 24 | 0.16× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $2.3B | $1.2B |
| Free Cash FlowOCF − Capex | $2.2B | $612.0M |
| FCF MarginFCF / Revenue | 21.2% | 8.1% |
| Capex IntensityCapex / Revenue | 1.4% | 7.7% |
| Cash ConversionOCF / Net Profit | 1.11× | 12.32× |
| TTM Free Cash FlowTrailing 4 quarters | $12.9B | $1.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.3B | $1.2B | ||
| Q3 25 | $740.0M | $1.1B | ||
| Q2 25 | $6.5B | $829.0M | ||
| Q1 25 | $4.0B | $235.0M | ||
| Q4 24 | $2.0B | $781.0M | ||
| Q3 24 | $892.0M | $320.0M | ||
| Q2 24 | $6.2B | $340.0M | ||
| Q1 24 | $3.4B | $42.0M |
| Q4 25 | $2.2B | $612.0M | ||
| Q3 25 | $605.0M | $523.0M | ||
| Q2 25 | $6.3B | $307.0M | ||
| Q1 25 | $3.8B | $-242.0M | ||
| Q4 24 | $1.8B | $212.0M | ||
| Q3 24 | $755.0M | $-192.0M | ||
| Q2 24 | $6.1B | $163.0M | ||
| Q1 24 | $3.3B | $-166.0M |
| Q4 25 | 21.2% | 8.1% | ||
| Q3 25 | 5.9% | 6.5% | ||
| Q2 25 | 64.1% | 3.9% | ||
| Q1 25 | 38.2% | -3.2% | ||
| Q4 24 | 18.8% | 2.8% | ||
| Q3 24 | 8.1% | -2.5% | ||
| Q2 24 | 66.6% | 5.5% | ||
| Q1 24 | 35.1% | -5.7% |
| Q4 25 | 1.4% | 7.7% | ||
| Q3 25 | 1.3% | 7.6% | ||
| Q2 25 | 1.8% | 6.6% | ||
| Q1 25 | 1.5% | 6.2% | ||
| Q4 24 | 2.2% | 7.5% | ||
| Q3 24 | 1.5% | 6.7% | ||
| Q2 24 | 1.8% | 6.0% | ||
| Q1 24 | 1.6% | 7.1% |
| Q4 25 | 1.11× | 12.32× | ||
| Q3 25 | 0.39× | 4.61× | ||
| Q2 25 | 4.20× | — | ||
| Q1 25 | 2.32× | 0.61× | ||
| Q4 24 | 1.30× | 5.35× | ||
| Q3 24 | 0.62× | — | ||
| Q2 24 | 4.08× | 2.58× | ||
| Q1 24 | 2.35× | 0.22× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CRM
| Agentforce Service | $2.5B | 24% |
| Agentforce Sales | $2.3B | 22% |
| Agentforce360Platform Slack And Other | $2.2B | 21% |
| Agentforce Integration And Agentforce Analytics | $1.4B | 14% |
| Agentforce Marketing And Agentforce Commerce | $1.4B | 13% |
| Professional Servicesand Other | $533.0M | 5% |
SW
| Packaging | $3.3B | 43% |
| Other | $3.2B | 43% |
| Paper | $1.1B | 14% |
