CRM · 10-Q · 2026Q3 · Full report
Liquidity and Debt Position
Salesforce, Inc. · 2026-08-27 · Importance 89 · Surprise 82 · No source text
Cash, cash equivalents, and marketable securities increased to $11.4 billion as of July 31, 2026 from $9.6 billion at January 31, 2026, while accounts receivable totaled $6.3 billion. Principal debt due increased to $39.5 billion from $14.5 billion, including $33.3 billion of senior unsecured notes carrying value and $6.0 billion outstanding under the 2031 term loan. The company had a $5.0 billion unsecured revolving credit facility maturing in October 2029 with no borrowings outstanding. Salesforce reported compliance with all debt covenants and said available liquidity should cover working capital, capital expenditures, and debt needs for the next 12 months and thereafter.
Key facts
- Principal due on our outstanding debt obligations as of July 31, 2026 was $39.5 billion compared to $14.5 billion as of January 31, 2026. source
- In March 2026, we issued unsecured Senior Notes with an aggregate principal of $25.0 billion with maturities ranging from 2028 to 2066 and used the net proceeds to fund an accelerated share repurchase program. source
- We used the full proceeds of the 2026 Term Loan Credit Agreement to settle all of the outstanding borrowings under our $4.0 billion 364-day Credit Agreement and our $2.0 billion Three-year Credit Agreement which were originally entered into in June 2025 to finance the acquisition of Informatica. source
- As of July 31, 2026, we had senior unsecured notes outstanding with a total carrying value of $33.3 billion and maturities starting in March 2028 and extending through March 2066. source
- In March 2026, we entered into a $6.0 billion five-year senior unsecured term loan credit agreement that matures in March 2031 and as of July 31, 2026 the full $6.0 billion was outstanding. source
- Cash provided by operations for the six months ended July 31, 2026 was $8.0 billion, an increase of 10 percent year-over-year. source
- Net cash provided by operating activities for the six months ended July 31, 2026 was $7,970 million and for the six months ended July 31, 2025 was $7,216 million. source
- Our Revolving Loan Credit Agreement provides the ability to borrow up to $5.0 billion in unsecured financing (the "Credit Facility") as of July 31, 2026 and matures in October 2029; there were no outstanding borrowings under the Credit Facility as of July 31, 2026. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| liability | negative | realized | -22.8% | In March 2026, we issued unsecured Senior Notes with an aggregate principal of $25.0 billion with maturities ranging from 2028 to 2066 and… |
| liability | positive | realized | +5.5% | We used the full proceeds of the 2026 Term Loan Credit Agreement to settle all of the outstanding borrowings under our $4.0 billion… |
| liability | negative | realized | -5.5% | In March 2026, we entered into a $6.0 billion five-year senior unsecured term loan credit agreement that matures in March 2031 and as of… |
| cash | positive | realized | +0.7% | Net cash provided by operating activities for the six months ended July 31, 2026 was $7,970 million and for the six months ended July 31,… |