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Compare Stocks › CRM vs ON

Salesforce, Inc. (CRM) vs ON Semiconductor Corporation (ON): Which Is the Better Buy in 2026?

As of 2026-06-19, CRM is undervalued at $152, with a DCF intrinsic value of $274 and a margin of safety of 45%. ON is undervalued at $122, with an intrinsic value of $337 and a margin of safety of 64%. Of the two, ON has the wider margin of safety.

CRM
Salesforce, Inc.
$151.78
VS
ON
ON Semiconductor Corporation
$121.62

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.
ON
  • ★PEG ratio of 0.39 suggests the stock is undervalued relative to its growth rate — paying less than 1x for each unit of earnings growth.
  • ★Altman Z-Score of 4.70 indicates very low bankruptcy risk — the company is firmly in the safe zone.

Risks

CRM
    ON
    • ⚠ROIC has declined by 17.0 percentage points over the past 4 years, which may signal competitive erosion.
    • ⚠FCF yield of 2.7% is below 3%, meaning the market is pricing in substantial future growth to justify the current price.
    • ⚠Trailing P/E of 89.4x is 53% above the historical average of 58.6x — the stock trades at a premium to its own history.

    Key Valuation Metrics

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    CRM
    ON
    Valuation
    $16.55B
    Free Cash Flow
    $1.28B
    13.32%
    FCF Yield
    2.71%
    17.57
    Trailing P/E
    89.43
    9.77
    Forward P/E
    28.40
    Quality & Moat
    9.61%
    ROIC
    8.26%
    16.91%
    ROE
    7.49%
    77.64%
    Gross Margin
    42.67%
    0.77
    PEG Ratio
    0.39
    Balance Sheet Safety
    0.90
    Net Debt / Equity
    0.12
    N/A
    Interest Coverage
    N/A
    2.38
    Net Debt / EBITDA
    0.41
    1.09%
    Dividend Yield
    0.00%
    CRM: 8Ties: 1ON: 3
    CRMON

    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.

    ON

    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
    $-7.99
    created per $1 retained over 3 years
    Market Cap Declined
    Σ Retained
    $14.67B
    Δ Market Cap
    $-117.14B
    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
    ON
    $-1.41
    created per $1 retained over 3 years
    Market Cap Declined
    Σ Retained
    $3.88B
    Δ Market Cap
    $-5.46B
    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
    44.5% Margin of Safety
    Price is 44.5% below estimated fair value
    Current Price: $151.78
    Fair Value: $273.71
    Strongly undervalued
    Undervalued
    Fairly valued
    Overvalued
    Strongly overvalued
    ON
    36.9% Overvalued
    Price is 36.9% above estimated fair value
    Current Price: $121.62
    Fair Value: $88.83
    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 $152?

    +3.6%
    Market-Implied Owner Earnings Growth
    Standard FCF implies -2.8%

    The market implies +3.6% Owner Earnings growth, below historical trends — potential opportunity.

    Standard FCF implies a more demanding -2.8%, reflecting heavy growth investment expected to generate future returns.

    ON

    What growth rate is the market pricing in at $122?

    +30.4%
    Market-Implied Owner Earnings Growth
    Standard FCF implies +16.3%

    The market implies +30.4% Owner Earnings growth, above historical trends.

    Standard FCF implies a demanding +16.3%, reflecting heavy growth investment.

    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.
    ON
    41/100
    Narrow Moat
    70+ Wide · 40-69 Narrow · <40 None

    Narrow moat with roic consistency as the key competitive advantage. Improving margin stability 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.
    ON
    -3.04
    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 94.3%Retail & Other 2.8%
    No. of Institutional Holders3,722
    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.
    ON
    Insiders 0.3%Institutions 108.9%
    No. of Institutional Holders1,223
    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)
    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
    ON
    0
    Buys (3M)
    0
    Buys (12M)
    No open market insider purchases found.
    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
    ON
    2
    Sells (3M)
    9
    Sells (12M)
    Total value (12M): $20.83M
    THAD TRENT
    Chief Financial Officer
    $5.79M
    @ $96.50 · 2026-04-24
    THAD TRENT
    Chief Financial Officer
    $2.40M
    @ $80.00 · 2026-04-16
    GOPALSWAMY SUDHIR
    Officer
    $358,708
    @ $58.67 · 2026-03-13
    KEETON SIMON
    Officer
    $3.51M
    @ $71.75 · 2026-02-17
    EL KHOURY HASSANE
    Chief Executive Officer
    $1.46M
    @ $73.02 · 2026-02-12
    THAD TRENT
    Chief Financial Officer
    $4.27M
    @ $71.22 · 2026-02-12
    KEETON SIMON
    Officer
    $1.17M
    @ $55.72 · 2025-12-04
    THAD TRENT
    Chief Financial Officer
    $1.10M
    @ $55.05 · 2025-12-03
    EL KHOURY HASSANE
    Chief Executive Officer
    $768,260
    @ $51.22 · 2025-08-13
    CAMPBELL ALAN
    Director
    $274,780
    @ $51.16 · 2025-06-12
    CAMPBELL ALAN
    Director
    $432,257
    @ $43.23 · 2025-03-12
    KEETON SIMON
    Officer
    $1.92M
    @ $68.56 · 2024-12-17
    GOPALSWAMY SUDHIR
    Officer
    $1.43M
    @ $67.64 · 2024-12-17
    EL KHOURY HASSANE
    Chief Executive Officer
    $105,000
    @ $70.00 · 2024-12-17
    EL KHOURY HASSANE
    Chief Executive Officer
    $106,500
    @ $71.00 · 2024-11-25
    EL KHOURY HASSANE
    Chief Executive Officer
    $109,065
    @ $72.71 · 2024-10-15
    EL KHOURY HASSANE
    Chief Executive Officer
    $106,200
    @ $70.80 · 2024-09-16
    KEETON SIMON
    Officer
    $2.41M
    @ $77.94 · 2024-07-31
    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
    FearGreed
    🥶Extreme Fear(18/100)

    "Mr. Market is panicking — potential buying opportunity if fundamentals are strong"

    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.
    ON
    FearGreed
    😐Neutral(50/100)

    "Market is pricing this stock without strong emotion in either direction"

    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: Extreme Fear (18)
    ON
    ⚪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: Neutral (50)
    View CRM Full AnalysisView ON Full Analysis

    Frequently Asked Questions: CRM vs ON

    Is Salesforce, Inc. or ON Semiconductor Corporation more undervalued in 2026?▼

    Based on our discounted cash flow model, ON trades at a 63.9% margin of safety (intrinsic value $337 vs. price $122), compared to CRM's 44.5% margin of safety (intrinsic $274 vs. $152).

    Which stock has a wider economic moat, Salesforce, Inc. or ON Semiconductor Corporation?▼

    CRM scores 58/100 (Narrow moat), while ON scores 41/100 (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 2.4 places it in the Grey zone, signaling elevated bankruptcy risk. ON scores 4.7 (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 company has better free cash flow, Salesforce, Inc. or ON Semiconductor Corporation?▼

    Salesforce, Inc. (CRM) generates a 13.3% free cash flow yield, compared to ON Semiconductor Corporation's 2.7%. A higher FCF yield means the business converts more of its market value into cash that can be returned to shareholders or reinvested.

    Which stock has higher return on invested capital, Salesforce, Inc. or ON Semiconductor Corporation?▼

    CRM earns 9.6% ROIC versus ON's 8.3%. A higher ROIC means the company generates more profit per dollar of capital employed, a hallmark of durable competitive advantage in Buffett-style analysis.