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Salesforce, Inc. (CRM) vs Halliburton Company (HAL): Which Is the Better Buy in 2026?

As of 2026-08-03, CRM is undervalued at $184, with a DCF intrinsic value of $222981480055 and a margin of safety of 100%. HAL is undervalued at $32, with an intrinsic value of $114 and a margin of safety of 72%. Of the two, CRM has the wider margin of safety.

CRM
Salesforce, Inc.
$184.02
VS
HAL
Halliburton Company
$32.25

Rewards

CRM
  • ★Gross margin of 77.6% indicates strong pricing power — typical of businesses with significant intellectual property or brand strength.
  • ★Free cash flow has grown at a 31.6% CAGR over the past 4 years, demonstrating strong earnings power growth.
  • ★Each dollar of retained earnings has created $5.53 of earning power — management is an exceptional capital allocator.
HAL
  • ★Halliburton Company has maintained ROIC above 10% for 4 consecutive years, suggesting solid business economics.
  • ★Free cash flow has grown at a 10.7% CAGR over the past 4 years, demonstrating strong earnings power growth.
  • ★Each dollar of retained earnings has created $1.05 of earning power — management is creating shareholder value.

Risks

CRM
  • ⚠Altman Z-Score of 0.81 places the company in the distress zone — financial patterns resemble those of companies that experienced bankruptcy.
HAL
  • ⚠Gross margin of 15.1% is low, suggesting a competitive or commodity-like market with limited pricing power.
  • ⚠FCF yield of 7.6% suggests reasonable valuation assuming continued moderate growth.
  • ⚠Insiders have sold $9.1M worth of stock in the past 3 months — significant insider liquidation.

Key Valuation Metrics

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CRM
HAL
Valuation
$16.55B
Free Cash Flow
$2.05B
N/A
FCF Yield
7.62%
21.32
Trailing P/E
16.88
11.86
Forward P/E
11.08
Quality & Moat
9.61%
ROIC
11.75%
16.91%
ROE
14.92%
77.64%
Gross Margin
15.08%
0.76
PEG Ratio
0.79
Balance Sheet Safety
0.90
Net Debt / Equity
0.56
N/A
Interest Coverage
N/A
2.38
Net Debt / EBITDA
1.49
0.96%
Dividend Yield
2.11%
CRM: 3Ties: 2HAL: 6
CRMHAL

Historical Fundamentals

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CRM

Price ÷ Earnings Per Share — how many years of current earnings you're paying for at today's price. Lower P/E may indicate undervaluation. The dashed forward point is the forward P/E — today's price ÷ analyst consensus EPS.

HAL

Price ÷ Earnings Per Share — how many years of current earnings you're paying for at today's price. Lower P/E may indicate undervaluation. The dashed forward point is the forward P/E — today's price ÷ analyst consensus EPS.

Price ÷ Earnings Per Share — how many years of current earnings you're paying for at today's price. Lower P/E may indicate undervaluation. The dashed forward point is the forward P/E — today's price ÷ analyst consensus EPS.

$1 Retained Earnings Test

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CRM
$-0.00
created per $1 retained over 3 years
Market Cap Declined
Σ Retained
$14.67B
Δ Market Cap
$-79.12
Buffett's "$1 Test": For every $1 of earnings retained, has management created at least $1 of market value?
> $1 created per $1 retained = Value Creator · < $1 created = Value Destroyer
HAL
$-2.55
created per $1 retained over 3 years
Market Cap Declined
Σ Retained
$4.67B
Δ Market Cap
$-11.91B
Buffett's "$1 Test": For every $1 of earnings retained, has management created at least $1 of market value?
> $1 created per $1 retained = Value Creator · < $1 created = Value Destroyer

Buffett's "$1 Test": For every $1 of earnings retained, has management created at least $1 of market value?
> $1 created per $1 retained = Value Creator · < $1 created = Value Destroyer

Discounted Cash Flow (DCF) Analysis

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CRM
100.0% Margin of Safety
Price is 100.0% below estimated fair value
Current Price: $184.02
Fair Value: $222981480055.14
Strongly undervalued
Undervalued
Fairly valued
Overvalued
Strongly overvalued
HAL
71.6% Margin of Safety
Price is 71.6% below estimated fair value
Current Price: $32.25
Fair Value: $113.73
Strongly undervalued
Undervalued
Fairly valued
Overvalued
Strongly overvalued

Reverse DCF — Market-Implied Growth

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CRM

What growth rate is the market pricing in at $184?

-21.2%
Market-Implied Owner Earnings Growth
Standard FCF implies -30.0%

The market implies -21.2% Owner Earnings growth, below historical trends — potential opportunity.

Standard FCF implies a more demanding -30.0%, reflecting heavy growth investment expected to generate future returns.

HAL

What growth rate is the market pricing in at $32?

+4.8%
Market-Implied FCF Growth Rate

Market roughly matching historical growth — reasonable.

Economic Moat Score

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CRM
58/100
Narrow Moat
70+ Wide · 40-69 Narrow · <40 None

Narrow moat with revenue predictability as the key competitive advantage. Improving roic consistency would strengthen the moat.

Composite score measuring competitive advantage durability across four dimensions: returns above cost of capital, pricing power stability, revenue predictability, and capital efficiency. Based on 4 years of fundamental data.
HAL
69/100
Narrow Moat
70+ Wide · 40-69 Narrow · <40 None

Narrow moat with roic consistency as the key competitive advantage. Improving revenue predictability would strengthen the moat.

Composite score measuring competitive advantage durability across four dimensions: returns above cost of capital, pricing power stability, revenue predictability, and capital efficiency. Based on 4 years of fundamental data.

Forensic Accounting

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CRM
-2.73
Unlikely Manipulator
Above -1.78 = likely manipulator · -2.22 to -1.78 = grey zone

M-Score Trend

Beneish's 8-variable model estimates the probability of earnings manipulation. An M-Score above -1.78 signals elevated risk — companies in this range have historically been 3-5× more likely to be manipulating earnings. Scores between -2.22 and -1.78 fall in a grey zone warranting further investigation.
HAL
-2.68
Unlikely Manipulator
Above -1.78 = likely manipulator · -2.22 to -1.78 = grey zone

M-Score Trend

Beneish's 8-variable model estimates the probability of earnings manipulation. An M-Score above -1.78 signals elevated risk — companies in this range have historically been 3-5× more likely to be manipulating earnings. Scores between -2.22 and -1.78 fall in a grey zone warranting further investigation.

Beneish's 8-variable model estimates the probability of earnings manipulation. An M-Score above -1.78 signals elevated risk — companies in this range have historically been 3-5× more likely to be manipulating earnings. Scores between -2.22 and -1.78 fall in a grey zone warranting further investigation.

Ownership Breakdown

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CRM
Insiders 3.0%Institutions 93.8%Retail & Other 3.2%
No. of Institutional Holders3,568
High insider ownership aligns management incentives with shareholders — a key signal in Buffett-style analysis. Institutional concentration can indicate smart-money conviction but also crowding risk.
HAL
Insiders 0.4%Institutions 84.1%Retail & Other 15.5%
No. of Institutional Holders1,593
High insider ownership aligns management incentives with shareholders — a key signal in Buffett-style analysis. Institutional concentration can indicate smart-money conviction but also crowding risk.

High insider ownership aligns management incentives with shareholders. Institutional concentration can indicate smart-money conviction but also crowding risk.

Insider Buying Activity

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CRM
0
Buys (3M)
4
Buys (12M)
Total value (12M): $26.52M
ALBER LAURA
Director
$500,266
@ $194.58 · 2026-03-19
KIRK DAVID BLAIR
Director
$500,178
@ $194.62 · 2026-03-18
KIRK DAVID BLAIR
Director
$500,722
@ $258.64 · 2025-12-17
MORFIT G MASON
Director and Beneficial Owner of more than 10% of a Class of Security
$25.02M
@ $260.58 · 2025-12-05
Open market purchases · includes direct & indirect ownership · excludes option exercises
HAL
0
Buys (3M)
0
Buys (12M)
WEISS JANET L.
Director
$169,162
@ $19.79 · 2025-05-29
Open market purchases · includes direct & indirect ownership · excludes option exercises

Open market purchases · includes direct & indirect ownership · excludes option exercises.

Insider Selling Activity

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CRM
0
Sells (3M)
15
Sells (12M)
Total value (12M): $40.30M
KROES NEELIE
Director
$929,276
@ $238.70 · 2026-01-14
HARRIS G PARKER
Officer and Director
$31.61M
@ $234.70 · 2025-12-02
BENIOFF MARC RUSSELL
Chief Executive Officer
$575,140
@ $255.62 · 2025-10-23
BENIOFF MARC RUSSELL
Chief Executive Officer
$590,102
@ $262.27 · 2025-10-21
BENIOFF MARC RUSSELL
Chief Executive Officer
$567,631
@ $252.28 · 2025-10-20
BENIOFF MARC RUSSELL
Chief Executive Officer
$550,430
@ $244.64 · 2025-10-17
BENIOFF MARC RUSSELL
Chief Executive Officer
$558,810
@ $248.36 · 2025-10-16
BENIOFF MARC RUSSELL
Chief Executive Officer
$536,322
@ $238.37 · 2025-10-15
BENIOFF MARC RUSSELL
Chief Executive Officer
$548,796
@ $243.91 · 2025-10-14
BENIOFF MARC RUSSELL
Chief Executive Officer
$1.10M
@ $244.75 · 2025-10-13
BENIOFF MARC RUSSELL
Chief Executive Officer
$547,344
@ $243.26 · 2025-10-09
BENIOFF MARC RUSSELL
Chief Executive Officer
$539,533
@ $239.79 · 2025-10-08
BENIOFF MARC RUSSELL
Chief Executive Officer
$555,001
@ $246.67 · 2025-09-23
BENIOFF MARC RUSSELL
Chief Executive Officer
$552,798
@ $245.69 · 2025-09-19
BENIOFF MARC RUSSELL
Chief Executive Officer
$545,384
@ $242.39 · 2025-09-15
Direct ownership only · excludes indirect, option exercises, planned (10b5-1) sales & derivatives
HAL
2
Sells (3M)
17
Sells (12M)
Total value (12M): $35.10M
CARRE ERIC
Chief Financial Officer
$889,282
@ $35.89 · 2026-06-18
BECKWITH VAN H.
Officer
$8.19M
@ $41.29 · 2026-05-15
MAXWELL MICHAEL CASEY
Officer
$852,445
@ $41.89 · 2026-05-05
MCKEON TIMOTHY M.
Officer and Treasurer
$363,510
@ $42.00 · 2026-04-30
YOUNG TOBI M. EDWARDS
Director
$255,538
@ $41.72 · 2026-04-30
MILLER JEFFREY ALLEN
Chief Executive Officer
$6.34M
@ $40.00 · 2026-03-27
BECKWITH VAN H.
Officer
$663,481
@ $33.82 · 2026-03-16
SLOCUM JEFFREY SHANNON
Chief Operating Officer
$184,015
@ $33.82 · 2026-03-16
MCKEON TIMOTHY M.
Officer and Treasurer
$132,187
@ $34.37 · 2026-03-06
BANKS MARGARET KATHERINE
Director
$88,855
@ $34.17 · 2026-01-26
BECKWITH VAN H.
Officer
$1.90M
@ $34.96 · 2026-01-23
MILLER JEFFREY ALLEN
Chief Executive Officer
$5.99M
@ $34.96 · 2026-01-23
BECKWITH VAN H.
Officer
$574,875
@ $32.30 · 2026-01-09
SLOCUM JEFFREY SHANNON
Chief Operating Officer
$771,808
@ $32.30 · 2026-01-09
POPE LAWRENCE J.
Officer
$3.23M
@ $32.25 · 2026-01-05
BECKWITH VAN H.
Officer
$246,938
@ $27.89 · 2025-12-05
RICHARD MARK
Officer
$4.44M
@ $27.77 · 2025-11-12
CARRE ERIC
Chief Financial Officer
$1.28M
@ $25.00 · 2025-03-14
MCKEON TIMOTHY M.
Officer and Treasurer
$258,226
@ $24.60 · 2025-03-07
BANKS MARGARET KATHERINE
Director
$93,736
@ $24.03 · 2025-03-04
CARRE ERIC
Chief Financial Officer
$3.69M
@ $26.13 · 2025-02-11
Direct ownership only · excludes indirect, option exercises, planned (10b5-1) sales & derivatives

Direct ownership only · excludes indirect, option exercises, planned (10b5-1) sales & derivatives.

🎭 Mr. Market's Mood

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CRM
FearGreed
😨Fear(39/100)

"Market is pessimistic — investigate whether fears are temporary or structural"

Composite sentiment score based on 6 market signals. Inspired by Buffett's "Mr. Market" allegory — fear = potential opportunity, greed = potential risk. Must be used alongside fundamental analysis, not in isolation.
HAL
FearGreed
😨Fear(39/100)

"Market is pessimistic — investigate whether fears are temporary or structural"

Composite sentiment score based on 6 market signals. Inspired by Buffett's "Mr. Market" allegory — fear = potential opportunity, greed = potential risk. Must be used alongside fundamental analysis, not in isolation.

Composite sentiment score based on market signals. Inspired by Buffett’s "Mr. Market" allegory — fear = potential opportunity, greed = potential risk. Must be used alongside fundamental analysis, not in isolation.

⚖️ Buffett Signal

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CRM
⚪Awaiting DCF Data

The Buffett Signal cross-references market sentiment with DCF valuation. Configure the DCF Analysis above to generate a signal.

DCF Margin of Safety: N/AMr. Market's Mood: Fear (39)
HAL
⚪Awaiting DCF Data

The Buffett Signal cross-references market sentiment with DCF valuation. Configure the DCF Analysis above to generate a signal.

DCF Margin of Safety: N/AMr. Market's Mood: Fear (39)
View CRM Full AnalysisView HAL Full Analysis

Frequently Asked Questions: CRM vs HAL

Is Salesforce, Inc. or Halliburton Company more undervalued in 2026?▼

Based on our discounted cash flow model, CRM trades at a 100.0% margin of safety (intrinsic value $222981480055 vs. price $184), compared to HAL's 71.6% margin of safety (intrinsic $114 vs. $32).

Which stock has a wider economic moat, Salesforce, Inc. or Halliburton Company?▼

HAL scores 69/100 (Narrow moat), while CRM scores 58/100 (Narrow moat). The moat score measures competitive advantage durability across ROIC consistency, margin stability, revenue predictability, and reinvestment efficiency.

Is Salesforce, Inc. in financial distress?▼

CRM's Altman Z-Score of 0.8 places it in the Distress zone, signaling elevated bankruptcy risk. HAL scores 3.4 (Safe zone). The Altman Z-Score is a five-factor model that predicts insolvency within two years; scores below 1.81 indicate significant distress.

Which stock has higher return on invested capital, Salesforce, Inc. or Halliburton Company?▼

HAL earns 11.7% ROIC versus CRM's 9.6%. A higher ROIC means the company generates more profit per dollar of capital employed, a hallmark of durable competitive advantage in Buffett-style analysis.

Which dividend is safer, Salesforce, Inc.'s or Halliburton Company's?▼

HAL's dividend earns a safety score of 94/100 (Very Safe), compared to CRM's 88/100 (Very Safe). HAL has raised its dividend for 3 consecutive years.