CRM · 10-K filed 2 Mar 2026 · year to 31 Jan 2026

Salesforce

24 named things its latest annual report says its results depend on, each in the company's own words. 14 of them are also named by other companies we've read.

Read the filing on SEC.gov ↗

Customers

U.S. federal government

earns fromnamed as a risk

Furthermore, pressures on and uncertainty regarding the U.S. federal government’s budget and potential changes in budgetary priorities could adversely affect the funding for and purchases of our services by government organizations.Risk factors (Item 1A)

Also named by ACN, ADSK, AKAM, AMRC, APG, CACI, CBRE, CI and 25 more

Suppliers

Third-party cloud computing platform providers

depends onnamed as a risk

As our reliance on these third-party systems increases, and particularly on third-party cloud computing platforms, our exposure to service interruptions and performance or quality issues may also increase.Risk factors (Item 1A)

Other companies

Informatica

$6.0 billionnamed as a risk

In November 2025, the Company borrowed the full $6.0 billion available under the Informatica Credit Agreements to finance a portion of the cash consideration for the acquisition, repay existing indebtedness of Informatica and its subsidiaries, and pay related fees, costs, and expenses.Risk factors (Item 1A)

Strategic investment portfolio (privately held companies)

concentrated in · $7.6 billionnamed as a risk

As of January 31, 2026, our strategic investment portfolio consisted of investments in over 450 companies with a combined carrying value of $7.6 billion, including two privately held investments with carrying values that were individually greater than five percent of the total strategic investments portfolio and represented 35 percent of the portfolio in aggregate.Market risk (Item 7A)

Privacy Collective (Dutch GDPR litigation)

named as a risk

Although the claims were initially dismissed, that decision was later reversed on appeal, and that matter remains pending before the Dutch Supreme Court.Risk factors (Item 1A)

Slack

named as a risk

For example, we are subject to ongoing securities class action litigation and related stockholder derivative claims brought against Slack that remain outstanding, and as to which we may ultimately be subject to liability or settlement costs.Risk factors (Item 1A)

Places

China

operates innamed as a risk

Sanctions and export and import control regulations in the United States and other countries are subject to change and uncertainty, including as a result of tariff policy changes, rapidly evolving technology, increased government regulation of AI and cloud service solutions, and geopolitical developments such as events affecting relations between the United States and China, multi-jurisdictional sanctions on Russia, the war in Ukraine and regional conflict in the Middle East.Risk factors (Item 1A)

Also named by A, AA, AAOI, AAP, AAPL, AB, ADI, AEHR and 261 more

Hazards

Water for data center cooling

depends onnamed as a risk

These events in turn have impacts on inflation risks, the cost and availability of insurance, food security, water security (including for water availability for data center cooling), energy security and on our employees’ health, productivity and well-being.Risk factors (Item 1A)

Commodities and inputs

Euro

exposed to its price · approximately one percentnamed as a risk

Specifically, our results of operations and cash flows are subject to fluctuations in the following currencies: the Euro, British Pound Sterling, Japanese Yen, Canadian Dollar, Australian Dollar and Brazilian Real against the United States Dollar (“USD”).Market risk (Item 7A)

Also named by ABBV, ABNB, ABT, ADBE, ADI, AME, AMG, AMGN and 186 more

Data center energy

exposed to its pricenamed as a risk

Additionally, increased energy consumption, including as a result of AI adoption, climate-related events, energy market volatility, and power grid disruptions may increase the operational costs related to inputs across our value chain, including for data centers.Risk factors (Item 1A)

Laws and programs

OECD Pillar Two

subject to · 15%named as a risk

For example, heightened interest in multinationals participating in the digital economy led many countries to adopt Pillar Two, a 15% corporate minimum tax proposed by the Organization for Economic Cooperation and Development (“OECD”).Risk factors (Item 1A)

Also named by APO, BAM, BAX, BF/B, CHRW, COHR, CPNG, CW and 45 more

Informatica Credit Agreements

exposed to its price · $ 4,000named as a risk

The borrowings under the Informatica Credit Agreements bear interest at a fluctuating rate per annum equal to, at our option, an alternate base rate or term Secured Overnight Financing Rate (“SOFR”), in each case, plus an applicable margin calculated based on our credit ratings.Market risk (Item 7A)

Revolving Loan Credit Agreement

subject to · $5.0 billionnamed as a risk

We are also party to the Revolving Loan Credit Agreement, which provides for our $5.0 billion Credit Facility, as well as the Informatica Credit Agreements.Risk factors (Item 1A)

EU General Data Protection Regulation (GDPR)

subject tonamed as a risk

In some cases, data privacy laws and regulations, such as the EU’s General Data Protection Regulation (“GDPR”), impose obligations directly on us as both a data controller and a data processor, as well as on many of our customers.Risk factors (Item 1A)

Also named by ACN, ADSK, AIG, ALK, AMG, ANET, APG, AXON and 61 more

California Consumer Privacy Act (CCPA)

subject tonamed as a risk

For example, statutory damages available through a private right of action for certain data breaches under the CCPA may increase our and our customers’ potential liability exposure and the demands customers place on us.Risk factors (Item 1A)

Also named by AAP, AIOT, AKAM, ALL, APP, AYI, BAC, BBSI and 69 more

One Big Beautiful Bill Act (OBBBA)

subject tonamed as a risk

For example, as a result of the One Big Beautiful Bill Act (“OBBBA”), we could be subject to Corporate Alternative Minimum Tax (“CAMT”).Risk factors (Item 1A)

Also named by AA, ABR, ADI, ADM, ALB, AMAT, AMGN, AMKR and 121 more

U.S. Export Administration Regulations

subject tonamed as a risk

Our solutions are subject to trade control laws and regulations where we conduct our business activities, including the U.S. Commerce Department’s Export Administration Regulations, U.S. customs regulations, U.S. supply chain regulations and various economic and trade sanctions regulations administered by the U.S. Treasury Department’s Office of Foreign Assets Control.Risk factors (Item 1A)

Also named by ADI, ALAB, AMD, APP, ARW, AVGO, CARR, CDRE and 40 more

EU AI Act

subject tonamed as a risk

Regulatory frameworks such as the EU Digital Services Act (“DSA”), the EU AI Act and other rapidly evolving and sometimes conflicting global laws and regulations related to AI, privacy and consumer protection could increase compliance costs, restrict features or data flows, delay launches and expose us to penalties or litigation.Risk factors (Item 1A)

Also named by ACN, ADBE, AMD, AXON, CGNX, CRWD, CTSH, DOCN and 36 more

EU-U.S. Data Privacy Framework

subject tonamed as a risk

While the EU and U.S. governments have since adopted the EU-U.S. Data Privacy Framework to facilitate such transfers and address the concerns raised by the CJEU, it remains uncertain whether this framework will withstand future legal challenges.Risk factors (Item 1A)

Also named by ADBE, APP, CRWD, DDOG, DOCN, GTLB, IDXX, INTU and 12 more

Telephone Consumer Protection Act (TCPA)

subject tonamed as a risk

We have been, and may in the future be, subject to class action and individual lawsuits alleging that one of our businesses or customers violated the TCPA or similar communications-based laws.Risk factors (Item 1A)

Also named by ADP, AFL, BBW, CART, COMP, CSGP, FCFS, GDDY and 9 more

EU Digital Operational Resilience Act (DORA)

subject tonamed as a risk

In Europe, the Digital Operational Resilience Act (“DORA”) aims to ensure the resilience of the EU financial sectors, including through mandatory risk management, incident reporting, resilience testing and third-party outsourcing restrictions.Risk factors (Item 1A)

Also named by BKNG, BLK, CRWD, DDOG, EQIX, FDS, MCO, MDB and 3 more

Colorado Artificial Intelligence Act

subject tonamed as a risk

Further, jurisdictions are increasingly applying existing data privacy, consumer protection and other laws to AI, including emerging AI technologies such as generative AI, and are also enacting, or considering enacting, AI-specific legal frameworks, such as the EU AI Act, and the Utah Artificial Intelligence Policy Act, the Colorado Artificial Intelligence Act and the draft CCPA regulations on automated decision-making technology.Risk factors (Item 1A)

Also named by TRU, ZETA

Technology

Third-party large language models

depends onnamed as a risk

The hardware, software, data and cloud computing platforms that we rely on, including, for example, the large language models leveraged in our AI offerings, may not continue to be available at reasonable prices, on commercially reasonable terms or at all.Risk factors (Item 1A)

Also named by XYZ

Agentforce

earns fromnamed as a risk

For example, we offer certain products, including Agentforce and Data 360, through a consumption-based business model and may increase the number of products through which we do so.Risk factors (Item 1A)