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Compare Stocks › CRM vs WRB

Salesforce, Inc. (CRM) vs W. R. Berkley Corporation (WRB): Which Is the Better Buy in 2026?

As of 2026-11-01, CRM is overvalued at $229, with a DCF intrinsic value of $158 and a margin of safety of -45%. WRB is fairly valued at $74, with an intrinsic value of $76 and a margin of safety of 2%. Of the two, WRB has the wider margin of safety.

CRM
Salesforce, Inc.
$229.17
VS
WRB
W. R. Berkley Corporation
$73.86

Rewards

CRM
  • ★Gross margin of 77.3% 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.
WRB
  • ★W. R. Berkley Corporation scores 99/100 on the Economic Moat Score (Wide Moat), with revenue predictability as the strongest competitive dimension.
  • ★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 $1.38 of earning power — management is creating shareholder value.

Risks

CRM
    WRB
    • ⚠PEG ratio of 4.86 indicates the stock is expensive relative to its expected growth — the market may be pricing in more growth than analysts project.
    • ⚠Altman Z-Score of 1.22 places the company in the distress zone — financial patterns resemble those of companies that experienced bankruptcy.

    Key Valuation Metrics

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    CRM
    WRB
    Valuation
    $17.73B
    Free Cash Flow
    N/A
    9.40%
    FCF Yield
    N/A
    20.97
    Trailing P/E
    15.62
    14.31
    Forward P/E
    15.22
    Quality & Moat
    9.19%
    ROIC
    14.58%
    19.38%
    ROE
    18.08%
    77.28%
    Gross Margin
    43.60%
    0.82
    PEG Ratio
    4.86
    Balance Sheet Safety
    0.81
    Net Debt / Equity
    Net cash
    N/A
    Interest Coverage
    N/A
    2.40
    Net Debt / EBITDA
    -0.32
    0.77%
    Dividend Yield
    0.54%
    CRM: 5Ties: 1WRB: 4
    CRMWRB

    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.

    WRB

    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
    $-3.08
    created per $1 retained over 3 years
    Market Cap Declined
    Σ Retained
    $14.67B
    Δ Market Cap
    $-45.24B
    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
    WRB
    $2.28
    created per $1 retained over 3 years
    Exceptional Value Creator
    Σ Retained
    $3.18B
    Δ Market Cap
    +$7.25B
    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
    45.4% Overvalued
    Price is 45.4% above estimated fair value
    Current Price: $229.17
    Fair Value: $157.57
    Strongly undervalued
    Undervalued
    Fairly valued
    Overvalued
    Strongly overvalued
    WRB
    2.2% Margin of Safety
    Price is 2.2% below estimated fair value
    Current Price: $73.86
    Fair Value: $75.52
    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 $229?

    +8.3%
    Market-Implied Owner Earnings Growth
    Standard FCF implies +1.1%

    The market implies +8.3% Owner Earnings growth, below historical trends — potential opportunity.

    Standard FCF implies a more demanding +1.1%, reflecting heavy growth investment expected to generate future returns.

    WRB

    Requires positive FCF to compute implied growth rate.

    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.
    WRB
    99/100
    Wide Moat
    70+ Wide · 40-69 Narrow · <40 None

    Wide moat driven primarily by revenue predictability. Margin Stability is the area most vulnerable to competitive pressure.

    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.
    WRB
    -2.63
    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 87.2%Retail & Other 9.8%
    No. of Institutional Holders3,582
    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.
    WRB
    Insiders 26.3%Institutions 75.6%
    No. of Institutional Holders1,296
    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
    1
    Buys (3M)
    5
    Buys (12M)
    Total value (12M): $27.52M
    KIRK DAVID BLAIR
    Director
    $999,451
    @ $239.33 · 2026-09-18
    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
    WRB
    0
    Buys (3M)
    19
    Buys (12M)
    Total value (12M): $665.29M
    MITSUI SUMITOMO INSURANCE CO., LTD.
    Beneficial Owner of more than 10% of a Class of Security
    $18.75M
    @ $72.61 · 2026-03-03
    MITSUI SUMITOMO INSURANCE CO., LTD.
    Beneficial Owner of more than 10% of a Class of Security
    $21.49M
    @ $71.65 · 2026-02-27
    MITSUI SUMITOMO INSURANCE CO., LTD.
    Beneficial Owner of more than 10% of a Class of Security
    $39.38M
    @ $71.13 · 2026-02-25
    MITSUI SUMITOMO INSURANCE CO., LTD.
    Beneficial Owner of more than 10% of a Class of Security
    $35.74M
    @ $70.70 · 2026-02-20
    MITSUI SUMITOMO INSURANCE CO., LTD.
    Beneficial Owner of more than 10% of a Class of Security
    $2.84M
    @ $70.93 · 2026-02-13
    MITSUI SUMITOMO INSURANCE CO., LTD.
    Beneficial Owner of more than 10% of a Class of Security
    $6.83M
    @ $69.68 · 2026-02-11
    MITSUI SUMITOMO INSURANCE CO., LTD.
    Beneficial Owner of more than 10% of a Class of Security
    $2.84M
    @ $70.88 · 2026-02-06
    MITSUI SUMITOMO INSURANCE CO., LTD.
    Beneficial Owner of more than 10% of a Class of Security
    $21.45M
    @ $68.05 · 2026-02-04
    MITSUI SUMITOMO INSURANCE CO., LTD.
    Beneficial Owner of more than 10% of a Class of Security
    $33.09M
    @ $68.22 · 2026-01-30
    MITSUI SUMITOMO INSURANCE CO., LTD.
    Beneficial Owner of more than 10% of a Class of Security
    $69.30M
    @ $67.35 · 2026-01-28
    MITSUI SUMITOMO INSURANCE CO., LTD.
    Beneficial Owner of more than 10% of a Class of Security
    $46.90M
    @ $67.19 · 2026-01-23
    MITSUI SUMITOMO INSURANCE CO., LTD.
    Beneficial Owner of more than 10% of a Class of Security
    $42.61M
    @ $67.64 · 2026-01-21
    MITSUI SUMITOMO INSURANCE CO., LTD.
    Beneficial Owner of more than 10% of a Class of Security
    $36.64M
    @ $68.49 · 2026-01-16
    MITSUI SUMITOMO INSURANCE CO., LTD.
    Beneficial Owner of more than 10% of a Class of Security
    $55.62M
    @ $68.58 · 2026-01-14
    MITSUI SUMITOMO INSURANCE CO., LTD.
    Beneficial Owner of more than 10% of a Class of Security
    $32.64M
    @ $69.45 · 2026-01-09
    MITSUI SUMITOMO INSURANCE CO., LTD.
    Beneficial Owner of more than 10% of a Class of Security
    $47.42M
    @ $69.61 · 2026-01-07
    MITSUI SUMITOMO INSURANCE CO., LTD.
    Beneficial Owner of more than 10% of a Class of Security
    $47.17M
    @ $70.11 · 2026-01-02
    MITSUI SUMITOMO INSURANCE CO., LTD.
    Beneficial Owner of more than 10% of a Class of Security
    $62.04M
    @ $70.53 · 2025-12-29
    MITSUI SUMITOMO INSURANCE CO., LTD.
    Beneficial Owner of more than 10% of a Class of Security
    $42.55M
    @ $69.71 · 2025-12-22
    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
    1
    Sells (3M)
    3
    Sells (12M)
    Total value (12M): $33.71M
    CONWAY CRAIG
    Director
    $1.17M
    @ $260.61 · 2026-09-04
    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
    Direct ownership only · excludes indirect, option exercises, planned (10b5-1) sales & derivatives
    WRB
    0
    Sells (3M)
    0
    Sells (12M)
    No open market insider sales found.
    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
    😐Neutral(53/100)

    "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.
    WRB
    FearGreed
    😏Greed(62/100)

    "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: Neutral (53)
    WRB
    ⚪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 (62)
    View CRM Full AnalysisView WRB Full Analysis

    Frequently Asked Questions: CRM vs WRB

    Is Salesforce, Inc. or W. R. Berkley Corporation more undervalued in 2026?▼

    Based on our discounted cash flow model, WRB trades at a 2.2% margin of safety (intrinsic value $76 vs. price $74), compared to CRM's -45.4% margin of safety (intrinsic $158 vs. $229).

    Which stock has a wider economic moat, Salesforce, Inc. or W. R. Berkley Corporation?▼

    WRB scores 99/100 (Wide 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 W. R. Berkley Corporation in financial distress?▼

    WRB's Altman Z-Score of 1.2 places it in the Distress zone, signaling elevated bankruptcy risk. CRM scores 3.2 (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 W. R. Berkley Corporation?▼

    WRB earns 14.6% ROIC versus CRM's 9.2%. 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 W. R. Berkley Corporation's?▼

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

    CRM vs WRB: Which Is the Better Buy in 2026? | SafetyMargin.io