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Side-by-side financial comparison of Salesforce (CRM) and Union Pacific Corporation (UNP). Click either name above to swap in a different company.
Salesforce is the larger business by last-quarter revenue ($10.3B vs $6.2B, roughly 1.7× Union Pacific Corporation). Union Pacific Corporation runs the higher net margin — 27.4% vs 20.3%, a 7.0% gap on every dollar of revenue. On growth, Salesforce posted the faster year-over-year revenue change (8.6% vs 3.2%). Salesforce produced more free cash flow last quarter ($2.2B vs $631.0M). Over the past eight quarters, Salesforce's revenue compounded faster (5.1% CAGR vs 1.7%).
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.
The Union Pacific Railroad Company is a Class I freight-hauling railroad that operates 8,300 locomotives over 32,200 miles (51,800 km) routes in 23 U.S. states west of Chicago and New Orleans. Union Pacific is the second-largest railroad in the United States after BNSF.
CRM vs UNP — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $10.3B | $6.2B |
| Net Profit | $2.1B | $1.7B |
| Gross Margin | 78.0% | — |
| Operating Margin | 21.3% | 39.5% |
| Net Margin | 20.3% | 27.4% |
| Revenue YoY | 8.6% | 3.2% |
| Net Profit YoY | 36.6% | 4.6% |
| EPS (diluted) | $2.19 | $2.87 |
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.
| Q1 26 | — | $6.2B | ||
| Q4 25 | $10.3B | $6.1B | ||
| Q3 25 | $10.2B | $6.2B | ||
| Q2 25 | $9.8B | $6.2B | ||
| Q1 25 | $10.0B | $6.0B | ||
| Q4 24 | $9.4B | $6.1B | ||
| Q3 24 | $9.3B | $6.1B | ||
| Q2 24 | $9.1B | $6.0B |
| Q1 26 | — | $1.7B | ||
| Q4 25 | $2.1B | $1.8B | ||
| Q3 25 | $1.9B | $1.8B | ||
| Q2 25 | $1.5B | $1.9B | ||
| Q1 25 | $1.7B | $1.6B | ||
| Q4 24 | $1.5B | $1.8B | ||
| Q3 24 | $1.4B | $1.7B | ||
| Q2 24 | $1.5B | $1.7B |
| Q1 26 | — | — | ||
| Q4 25 | 78.0% | — | ||
| Q3 25 | 78.1% | — | ||
| Q2 25 | 77.0% | — | ||
| Q1 25 | 77.8% | — | ||
| Q4 24 | 77.7% | — | ||
| Q3 24 | 76.8% | — | ||
| Q2 24 | 76.3% | — |
| Q1 26 | — | 39.5% | ||
| Q4 25 | 21.3% | 39.5% | ||
| Q3 25 | 22.8% | 40.8% | ||
| Q2 25 | 19.8% | 41.0% | ||
| Q1 25 | 18.2% | 39.3% | ||
| Q4 24 | 20.0% | 41.3% | ||
| Q3 24 | 19.1% | 39.7% | ||
| Q2 24 | 18.7% | 40.0% |
| Q1 26 | — | 27.4% | ||
| Q4 25 | 20.3% | 30.4% | ||
| Q3 25 | 18.4% | 28.6% | ||
| Q2 25 | 15.7% | 30.5% | ||
| Q1 25 | 17.1% | 27.0% | ||
| Q4 24 | 16.2% | 28.8% | ||
| Q3 24 | 15.3% | 27.4% | ||
| Q2 24 | 16.8% | 27.9% |
| Q1 26 | — | $2.87 | ||
| Q4 25 | $2.19 | $3.12 | ||
| Q3 25 | $1.96 | $3.01 | ||
| Q2 25 | $1.59 | $3.15 | ||
| Q1 25 | $1.75 | $2.70 | ||
| Q4 24 | $1.58 | $2.91 | ||
| Q3 24 | $1.47 | $2.75 | ||
| Q2 24 | $1.56 | $2.74 |
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 | $735.0M |
| Total DebtLower is stronger | $8.4B | — |
| Stockholders' EquityBook value | $60.0B | — |
| Total Assets | $95.1B | $69.6B |
| Debt / EquityLower = less leverage | 0.14× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $735.0M | ||
| Q4 25 | $9.0B | $1.3B | ||
| Q3 25 | $10.4B | $808.0M | ||
| Q2 25 | $10.9B | $1.1B | ||
| Q1 25 | $8.8B | $1.4B | ||
| Q4 24 | $8.0B | $1.0B | ||
| Q3 24 | $7.7B | $947.0M | ||
| Q2 24 | $10.0B | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | $8.4B | $30.3B | ||
| Q3 25 | $8.4B | $30.3B | ||
| Q2 25 | $8.4B | $30.3B | ||
| Q1 25 | $8.4B | $30.6B | ||
| Q4 24 | $8.4B | $29.8B | ||
| Q3 24 | $8.4B | $29.8B | ||
| Q2 24 | $9.4B | $31.2B |
| Q1 26 | — | — | ||
| Q4 25 | $60.0B | $18.5B | ||
| Q3 25 | $61.3B | $17.3B | ||
| Q2 25 | $60.7B | $16.3B | ||
| Q1 25 | $61.2B | $16.0B | ||
| Q4 24 | $58.5B | $16.9B | ||
| Q3 24 | $57.6B | $16.6B | ||
| Q2 24 | $59.7B | $16.5B |
| Q1 26 | — | $69.6B | ||
| Q4 25 | $95.1B | $69.7B | ||
| Q3 25 | $97.6B | $68.6B | ||
| Q2 25 | $98.6B | $68.6B | ||
| Q1 25 | $102.9B | $68.5B | ||
| Q4 24 | $91.4B | $67.7B | ||
| Q3 24 | $92.2B | $67.6B | ||
| Q2 24 | $96.2B | $67.8B |
| Q1 26 | — | — | ||
| Q4 25 | 0.14× | 1.64× | ||
| Q3 25 | 0.14× | 1.75× | ||
| Q2 25 | 0.14× | 1.86× | ||
| Q1 25 | 0.14× | 1.91× | ||
| Q4 24 | 0.14× | 1.76× | ||
| Q3 24 | 0.15× | 1.79× | ||
| Q2 24 | 0.16× | 1.89× |
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 | — |
| Free Cash FlowOCF − Capex | $2.2B | $631.0M |
| FCF MarginFCF / Revenue | 21.2% | 10.1% |
| Capex IntensityCapex / Revenue | 1.4% | — |
| Cash ConversionOCF / Net Profit | 1.11× | — |
| TTM Free Cash FlowTrailing 4 quarters | $12.9B | $4.8B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $2.3B | $2.2B | ||
| Q3 25 | $740.0M | $2.5B | ||
| Q2 25 | $6.5B | $2.3B | ||
| Q1 25 | $4.0B | $2.2B | ||
| Q4 24 | $2.0B | $2.7B | ||
| Q3 24 | $892.0M | $2.7B | ||
| Q2 24 | $6.2B | $1.9B |
| Q1 26 | — | $631.0M | ||
| Q4 25 | $2.2B | $1.2B | ||
| Q3 25 | $605.0M | $1.6B | ||
| Q2 25 | $6.3B | $1.4B | ||
| Q1 25 | $3.8B | $1.3B | ||
| Q4 24 | $1.8B | $1.7B | ||
| Q3 24 | $755.0M | $1.8B | ||
| Q2 24 | $6.1B | $1.0B |
| Q1 26 | — | 10.1% | ||
| Q4 25 | 21.2% | 20.1% | ||
| Q3 25 | 5.9% | 25.2% | ||
| Q2 25 | 64.1% | 22.7% | ||
| Q1 25 | 38.2% | 21.6% | ||
| Q4 24 | 18.8% | 28.4% | ||
| Q3 24 | 8.1% | 29.9% | ||
| Q2 24 | 66.6% | 16.8% |
| Q1 26 | — | — | ||
| Q4 25 | 1.4% | 16.4% | ||
| Q3 25 | 1.3% | 15.2% | ||
| Q2 25 | 1.8% | 15.2% | ||
| Q1 25 | 1.5% | 15.0% | ||
| Q4 24 | 2.2% | 15.1% | ||
| Q3 24 | 1.5% | 13.6% | ||
| Q2 24 | 1.8% | 15.0% |
| Q1 26 | — | — | ||
| Q4 25 | 1.11× | 1.20× | ||
| Q3 25 | 0.39× | 1.41× | ||
| Q2 25 | 4.20× | 1.24× | ||
| Q1 25 | 2.32× | 1.36× | ||
| Q4 24 | 1.30× | 1.51× | ||
| Q3 24 | 0.62× | 1.59× | ||
| Q2 24 | 4.08× | 1.14× |
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% |
UNP
| Freight revenues | $5.9B | 95% |
| Other revenues | $324.0M | 5% |
