Salesforce (CRM) vs ServiceNow (NOW): Stock Comparison
Data as of November 7, 2026. Refreshed weekly from SEC filings and market data.
Salesforce is cheaper on earnings, at 18.9 times against 73.5; Salesforce keeps the higher net margin (22.0% against 9.4%); ServiceNow grew revenue faster over the last year (21.8% against 11.2%); dividend yield is about the same (0.8% and 0.0%). Salesforce clears 8 of this site's 8 value filters and ServiceNow 3. Figures are as of November 7, 2026; each is on the page below with its source.
How do Salesforce and ServiceNow compare on the numbers?
| Measure | Salesforce (CRM) | ServiceNow (NOW) | Clearer lead |
|---|---|---|---|
| Share price | $213.65 | $101.97 | |
| Market value | $183 billion | $106 billion | |
| P/E ratio (trailing) | 18.9 | 73.5 | CRM |
| PEG ratio | 1.39 | 1.05 | NOW |
| Free-cash-flow yield | 8.3% | 4.5% | CRM |
| Net profit margin | 22.0% | 9.4% | CRM |
| Revenue growth, last year | 11.2% | 21.8% | NOW |
| Return on equity | 20.2% | 11.5% | CRM |
| Debt to equity | 1.02 | 0.57 | NOW |
| Dividend yield | 0.8% | 0.0% | About the same |
| Margin of safety (DCF) | +29.3% | -31.0% | CRM |
| Value filters passed (of 8) | 8 | 3 | CRM |
| Distance from 52-week high | -19.7% | -46.1% |
How have Salesforce and ServiceNow shares done against each other?
Salesforce 69ServiceNow 74
Each share price set to 100 on Nov 2021, to Nov 2026. Price only: dividends are not included.
From Nov 2021 to Nov 2026, Salesforce shares are down 31% and ServiceNow shares down 26%, so ServiceNow has pulled ahead of Salesforce by 5 points of the starting price. The deepest fall from a prior high in that window was 58% for Salesforce and 61% for ServiceNow.
| Period | Salesforce (CRM) | ServiceNow (NOW) |
|---|---|---|
| Last 1 year | -10.7% | -40.6% |
| Last 3 years | +3.0% | -16.3% |
| Last 5 years | -30.5% | -26.3% |
Which has grown faster, Salesforce or ServiceNow?
Over 5 years, Salesforce grew revenue 14.3% a year and earnings per share 12.2% a year; ServiceNow grew revenue 24.1% and earnings per share 69.3%. Its net margin averaged 10.5% at Salesforce and 10.8% at ServiceNow.
| Measure | Salesforce (CRM) | ServiceNow (NOW) |
|---|---|---|
| Latest fiscal year ended | Jan 2026 | Dec 2025 |
| Revenue, first year to latest | $21.3 billion to $41.5 billion | $4.5 billion to $13.3 billion |
| Revenue growth per year | 14.3% | 24.1% |
| Earnings per share, first year to latest | $4.38 to $7.80 | $0.12 to $1.67 |
| Earnings per share growth per year | 12.2% | 69.3% |
| Net margin, latest year | 18.0% | 13.2% |
| Net margin, average of the years | 10.5% | 10.8% |
| Free cash flow margin, latest year | 34.7% | 34.5% |
From each company's 10-K filings (SEC EDGAR), over its latest 5 years. Fiscal years end in different months, so each is shown for its own latest 5 years.
What growth does each share price assume?
| Measure | Salesforce (CRM) | ServiceNow (NOW) |
|---|---|---|
| Free cash flow growth the price implies | -0.5% a year | 14.8% a year |
| Free cash flow per share | $17.69 | $4.56 |
| Margin of safety on this site's DCF | +29.3% | -31.0% |
At $213.65, Salesforce's price implies free cash flow growth of -0.5% a year, fading to 2.5% over 10 years. That is less growth than the 8% baseline.
At $101.97, ServiceNow's price implies free cash flow growth of 14.8% a year, fading to 2.5% over 10 years. That is more growth than the 8% baseline.
The same model and baseline as every stock page. A price that asks for less growth is not a better company, only a lower bar to clear.
Where is each stronger?
Where Salesforce leads
- Lower P/E: 18.9 against 73.5
- Higher free-cash-flow yield: 8.3% against 4.5%
- Higher net margin: 22.0% against 9.4%
- Higher return on equity: 20.2% against 11.5%
- Higher margin of safety on this site's DCF: +29.3% against -31.0%
- More of the 8 value filters: 8 against 3
- A higher net margin in its latest filed year: 18.0% against 13.2%
Where ServiceNow leads
- Lower PEG: 1.05 against 1.39
- Faster revenue growth last year: 21.8% against 11.2%
- Less debt for its equity: 0.57 against 1.02
- Faster revenue growth over its filed record: 24.1% against 14.3%
- Faster earnings-per-share growth over its filed record: 69.3% against 12.2%
About the same on: dividend yield, net margin, average of the years, free cash flow margin, latest year. A lead needs a clear gap (10% apart on a ratio, 1 point on a percentage), so a rounding difference never names a winner. A lead on one measure is not a verdict on the company.
How do the businesses differ?
Salesforce. Salesforce sells subscription cloud software for managing customers: sales, service, marketing and data tools in one platform. It has added AI agents and bought several well-known software platforms.
ServiceNow. ServiceNow sells cloud workflow software that lets large companies run IT help desks, HR, customer service and other internal processes from one platform, increasingly with built-in AI agents.
Both are in the Technology industry on this site.
What stands out about Salesforce
- No filter fails. CRM passes 8 of the 8 value filters.
- Strongest against peers: free-cash-flow yield. At 8.3% (peer median 4.4%) it ranks 8th of 44 among technology stocks this site tracks.
- Weakest against peers: revenue growth. At 11.2% (peer median 19.3%) it ranks 32nd of 44 among technology stocks this site tracks.
What stands out about ServiceNow
- Misses 3 of the 8 value filters. It fails Trailing P/E < 25 (73.53), Price/Book < 8 (8.11) and EPS Growth YoY > -5% (-44.6%); the other 3 pass and 2 were not evaluated.
- The margin of safety is rising. It went from -80% on Oct 7 to -31% on Nov 7 across 8 weekly readings.
- Earnings quality: Mixed · 1 flag. Beneish M-score −2.91 · accruals −15.9% of assets · 267% of profit arrived as cash · stock comp 14.7% of revenue · share count +0.9% a year. From the latest 10-K (year to Dec 2025).
Frequently asked questions about Salesforce and ServiceNow
Which is cheaper, Salesforce or ServiceNow?
On trailing earnings, Salesforce is cheaper: Salesforce trades at 18.9 times and ServiceNow at 73.5 times. On free cash flow, the yields are 8.3% and 4.5%. Cheaper is not the same as better value: read the growth each price assumes below.
Which pays the higher dividend, Salesforce or ServiceNow?
Their yields are about the same: Salesforce 0.8% and ServiceNow 0.0% over the last year.
Which has grown faster, Salesforce or ServiceNow?
Over their latest filed five years, Salesforce grew revenue 14.3% a year and ServiceNow 24.1%; earnings per share grew 12.2% and 69.3% a year.
Which has more debt, Salesforce or ServiceNow?
Salesforce has more debt for its equity: debt to equity is 1.02 for Salesforce and 0.57 for ServiceNow. A very high figure can also come from buybacks that shrank equity.
Which is more profitable, Salesforce or ServiceNow?
Salesforce keeps more of each sales dollar as profit: 22.0% for Salesforce and 9.4% for ServiceNow, with a return on equity of 20.2% and 11.5%.
Which passes more of the 8 value filters?
Salesforce clears more: Salesforce 8 of 8 and ServiceNow 3 of 8. The filters are this site's own value rules, not a prediction.
Where do these numbers come from?
Prices, ratios and yield are from this site's weekly data as of November 7, 2026; growth and margins by year are from each company's 10-K filings (sources on Salesforce and ServiceNow). The DCF is the same model on every stock page. See Editorial Standards. Educational, not investment advice.