Compare Stocks › CRM vs NDAQ
Salesforce, Inc. (CRM) vs Nasdaq, Inc. (NDAQ)
CRM
Salesforce, Inc.
$189.34
VS
NDAQ
Nasdaq, Inc.
$92.70
Rewards
CRM
- ★Gross margin of 77.7% 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 $5.49 of earning power — management is an exceptional capital allocator.
NDAQ
- ★Gross margin of 100.0% indicates strong pricing power — typical of businesses with significant intellectual property or brand strength.
- ★Each dollar of retained earnings has created $3.09 of earning power — management is an exceptional capital allocator.
- ★PEG ratio of 0.83 suggests the stock is undervalued relative to its growth rate — paying less than 1x for each unit of earnings growth.
Risks
CRM
NDAQ
- ⚠Share count has increased by 16% over the past 4 years, diluting existing shareholders.
- ⚠FCF yield of 3.0% is below 3%, meaning the market is pricing in substantial future growth to justify the current price.
- ⚠Insiders have sold $21.2M worth of stock in the past 3 months — significant insider liquidation.
Key Valuation Metrics
Learn more →CRM
NDAQ
Valuation
$16.37B
Free Cash Flow
$1.56B
10.57%
FCF Yield
2.97%
24.31
Trailing P/E
27.92
12.68
Forward P/E
20.95
Quality & Moat
8.21%
ROIC
9.61%
12.61%
ROE
14.85%
77.68%
Gross Margin
100.00%
1.36
PEG Ratio
0.83
Balance Sheet Safety
0.30
Debt / Equity
0.79
N/A
Interest Coverage
N/A
0.65
Net Debt / EBITDA
2.79
0.96%
Dividend Yield
1.23%
CRM: 6Ties: 1NDAQ: 5
CRMNDAQ
Historical Fundamentals
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Price ÷ Earnings Per Share — how many years of current earnings you're paying for at today's price. Lower P/E may indicate undervaluation.
NDAQ
Price ÷ Earnings Per Share — how many years of current earnings you're paying for at today's price. Lower P/E may indicate undervaluation.
Price ÷ Earnings Per Share — how many years of current earnings you're paying for at today's price. Lower P/E may indicate undervaluation.
$1 Retained Earnings Test
Learn more →CRM
$-5.61
created per $1 retained over 3 years
Market Cap Declined
Σ Retained
$14.67B
Δ Market Cap
$-82.28B
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
> $1 created per $1 retained = Value Creator · < $1 created = Value Destroyer
NDAQ
$10.58
created per $1 retained over 3 years
Exceptional Value Creator
Σ Retained
$2.38B
Δ Market Cap
+$25.19B
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
> $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
Learn more →CRM
26.4% Margin of Safety
Price is 26.4% below estimated fair value
Current Price: $189.34
Strongly undervalued
Undervalued
Fairly valued
Overvalued
Strongly overvalued
Fair Value: $257.23
Strongly undervalued
Undervalued
Fairly valued
Overvalued
Strongly overvalued
NDAQ
24.6% Overvalued
Price is 24.6% above estimated fair value
Current Price: $92.70
Strongly undervalued
Undervalued
Fairly valued
Overvalued
Strongly overvalued
Fair Value: $74.38
Strongly undervalued
Undervalued
Fairly valued
Overvalued
Strongly overvalued
Reverse DCF — Market-Implied Growth
Learn more →CRM
What growth rate is the market pricing in at $189?
+8.9%
Market-Implied Owner Earnings Growth
Standard FCF implies -1.9%
The market implies +8.9% Owner Earnings growth, below historical trends — potential opportunity.
Standard FCF implies a more demanding -1.9%, reflecting heavy growth investment expected to generate future returns.
NDAQ
What growth rate is the market pricing in at $93?
+15.1%
Market-Implied Owner Earnings Growth
Standard FCF implies +16.9%
The market implies +15.1% Owner Earnings growth, roughly in line with history — reasonably priced.
Standard FCF implies +16.9%, reflecting ongoing growth investment.
Economic Moat Score
Learn more →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.
NDAQ
53/100
Narrow Moat
70+ Wide · 40-69 Narrow · <40 None
Narrow moat with reinvestment efficiency 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.
Forensic Accounting
Learn more →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.
NDAQ
-2.58
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
Learn more →CRM
Insiders 3.0%Institutions 95.7%Retail & Other 1.3%
No. of Institutional Holders3,813
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.
NDAQ
Insiders 10.9%Institutions 87.2%Retail & Other 1.9%
No. of Institutional Holders1,518
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
Learn more →CRM
2
Buys (3M)
5
Buys (12M)
Total value (12M): $27.38M
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
KIRK DAVID BLAIR
Director
$865,827
@ $254.66 · 2025-09-09
Open market purchases · includes direct & indirect ownership · excludes option exercises
NDAQ
2
Buys (3M)
2
Buys (12M)
Total value (12M): $16.79M
TORGEBY JOHAN
Director
$958,320
@ $79.86 · 2026-02-17
INVESTOR AB
Beneficial Owner of more than 10% of a Class of Security
$15.84M
@ $79.18 · 2026-02-13
Open market purchases · includes direct & indirect ownership · excludes option exercises
Open market purchases · includes direct & indirect ownership · excludes option exercises.
Insider Selling Activity
Learn more →CRM
0
Sells (3M)
17
Sells (12M)
Total value (12M): $41.42M
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
BENIOFF MARC RUSSELL
Chief Executive Officer
$543,378
@ $241.50 · 2025-09-04
BENIOFF MARC RUSSELL
Chief Executive Officer
$572,842
@ $254.60 · 2025-09-03
Direct ownership only · excludes indirect, option exercises, planned (10b5-1) sales & derivatives
NDAQ
7
Sells (3M)
25
Sells (12M)
Total value (12M): $84.66M
PETERSON BRADLEY J.
Chief Technology Officer
$700,222
@ $90.82 · 2026-04-28
TAL COHEN
Officer
$1.41M
@ $90.75 · 2026-04-27
DALY MICHELLE LYNN
Officer
$117,513
@ $88.82 · 2026-04-24
FRIEDMAN ADENA T
Chief Executive Officer
$9.71M
@ $85.44 · 2026-04-01
FRIEDMAN ADENA T
Chief Executive Officer
$8.36M
@ $90.08 · 2026-03-06
SMITH BRYAN EVERARD
Officer
$523,440
@ $87.24 · 2026-03-02
DALY MICHELLE LYNN
Officer
$352,934
@ $81.34 · 2026-02-19
FRIEDMAN ADENA T
Chief Executive Officer
$29.07M
@ $96.91 · 2026-02-02
ZECCA JOHN
Officer
$450,045
@ $100.01 · 2026-01-06
FRIEDMAN ADENA T
Chief Executive Officer
$28.92M
@ $96.39 · 2026-01-02
SKULE JEREMY
Officer
$190,650
@ $90.57 · 2025-12-01
SMITH BRYAN EVERARD
Officer
$419,611
@ $90.57 · 2025-12-01
SKULE JEREMY
Officer
$179,767
@ $85.40 · 2025-11-03
SKULE JEREMY
Officer
$185,703
@ $88.22 · 2025-10-01
SKULE JEREMY
Officer
$196,228
@ $93.22 · 2025-09-02
BEGLEY CHARLENE T
Director
$289,800
@ $96.60 · 2025-08-04
SKULE JEREMY
Officer
$201,006
@ $95.49 · 2025-08-01
DALY MICHELLE LYNN
Officer
$812,174
@ $93.45 · 2025-07-25
PETERSON BRADLEY J.
Chief Technology Officer
$1.02M
@ $88.87 · 2025-07-02
SKULE JEREMY
Officer
$187,703
@ $89.17 · 2025-07-01
SKULE JEREMY
Officer
$178,840
@ $85.00 · 2025-06-06
GRIGGS P C NELSON
Officer
$340,880
@ $85.22 · 2025-06-06
SKULE JEREMY
Officer
$87,694
@ $83.28 · 2025-06-02
GRIGGS P C NELSON
Officer
$664,240
@ $83.03 · 2025-05-27
SKULE JEREMY
Officer
$85,841
@ $81.52 · 2025-05-12
SMITH BRYAN EVERARD
Officer
$47,179
@ $71.81 · 2025-04-04
SMITH BRYAN EVERARD
Officer
$237,078
@ $75.70 · 2025-04-02
PETERSON BRADLEY J.
Chief Investment Officer
$174,646
@ $75.67 · 2025-04-02
YOUNGWOOD SARAH
Officer
$1.10M
@ $73.68 · 2025-03-17
SMITH BRYAN EVERARD
Officer
$289,730
@ $82.78 · 2025-03-03
PETERSON BRADLEY J.
Officer
$1.36M
@ $79.79 · 2025-02-26
TAL COHEN
Officer
$749,981
@ $83.75 · 2025-02-06
SMITH BRYAN EVERARD
Officer
$285,460
@ $81.56 · 2025-02-03
SKULE JEREMY
Officer
$976,485
@ $80.88 · 2024-12-09
SKULE JEREMY
Officer
$950,906
@ $78.75 · 2024-11-18
PETERSON BRADLEY J.
Officer
$940,636
@ $79.58 · 2024-11-13
GRIGGS P C NELSON
Officer
$798,600
@ $79.86 · 2024-11-11
SKULE JEREMY
Officer
$935,040
@ $77.92 · 2024-11-06
GRIGGS P C NELSON
President
$444,086
@ $77.34 · 2024-11-06
TAL COHEN
Officer
$806,651
@ $74.11 · 2024-11-01
GRIGGS P C NELSON
Officer
$758,460
@ $75.85 · 2024-10-29
PETERSON BRADLEY J.
Officer
$1.03M
@ $75.32 · 2024-10-28
ZECCA JOHN
Officer
$791,670
@ $71.97 · 2024-09-12
PETERSON BRADLEY J.
Officer
$2.71M
@ $67.79 · 2024-08-09
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
Learn more →CRM
😨Fear(36/100)
"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.
NDAQ
😏Greed(63/100)
"Market is optimistic — be cautious and ensure you have a margin of safety"
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
Learn more →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 (36)
NDAQ
⚪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: Greed (63)