Salesforce vs ServiceTitan: Revenue, Profit and Business Model
Salesforce reported $41.5B of revenue in FY2026 and $7.5B of net income. ServiceTitan reported $961M of revenue in FY2026 and a net loss of $159.9M.
Latest financial snapshot
Salesforce
- Latest revenue
- $41.5B (FY2026)
- Net income
- $7.5B
- Net margin
- 18.0%
- Revenue growth
- +19.4% a year, FY2017–FY2026
ServiceTitan
- Latest revenue
- $961M (FY2026)
- Net income
- -$159.9M
- Net margin
- -16.6%
- Revenue growth
- +27.1% a year, FY2023–FY2026
Financial summary
Salesforce
Salesforce grew revenue from $8.4 billion in fiscal 2017 to $41.5 billion in fiscal 2026, helped by acquisitions such as MuleSoft, Tableau and Slack. After activist investors including Elliott and Starboard took stakes in early 2023, the company cut about 10% of staff, disbanded its board M&A committee and shifted to margins and capital returns. Fiscal 2026 brought $7.46 billion of GAAP net income, $14.4 billion of free cash flow and $14.3 billion returned to shareholders. In Q2 fiscal 2027 (ended July 31, 2026) revenue rose 11% to $11.345 billion, and full-year guidance was raised to $46.1 billion to $46.4 billion.
ServiceTitan
ServiceTitan reported revenue of $467.7 million in fiscal 2023, $614.3 million in fiscal 2024, $771.9 million in fiscal 2025 and $961.0 million in fiscal 2026 (fiscal years end January 31). Its net loss went from $269.5 million to $159.9 million over the same period. Q4 fiscal 2026 revenue was $254 million, up 21%, with a 10.7% non-GAAP operating margin. In Q2 fiscal 2027 (quarter ended July 31, 2026), revenue rose 21% to $292.8 million, non-GAAP operating margin reached 15.2% and non-GAAP free cash flow was a record $50.5 million. Guidance after Q2 called for fiscal 2027 revenue of about $1.139 billion to $1.144 billion.
Revenue and profit by year
Salesforce
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | $41.5B | $7.5B | 18.0% | +9.6% | Source |
| FY2025 | $37.9B | $6.2B | 16.4% | +8.7% | Source |
| FY2024 | $34.9B | $4.1B | 11.9% | +11.2% | Source |
| FY2023 | $31.4B | $208M | 0.7% | +18.3% | Source |
| FY2022 | $26.5B | $1.4B | 5.5% | +24.7% | Source |
| FY2021 | $21.3B | $4.1B | 19.2% | +24.3% | Source |
| FY2020 | $17.1B | $126M | 0.7% | +28.7% | Source |
| FY2019 | $13.3B | $1.1B | 8.4% | +26.0% | Source |
| FY2018 | $10.5B | $360M | 3.4% | +25.6% | Source |
| FY2017 | $8.4B | $323M | 3.8% | — | Source |
ServiceTitan
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | $961M | -$159.9M | -16.6% | +24.5% | Source |
| FY2025 | $771.9M | -$239.1M | -31.0% | +25.6% | Source |
| FY2024 | $614.3M | -$195.1M | -31.8% | +31.3% | Source |
| FY2023 | $467.7M | -$269.5M | -57.6% | — | Source |
Where the revenue comes from
Salesforce
- Sales cloud subscriptions
- Service cloud subscriptions
- Platform and data subscriptions
- Marketing and commerce subscriptions
- Analytics and integration products
- Professional services
ServiceTitan
- Subscription
Majority (not itemized here)
Recurring platform and Pro product fees, plus Aspire and FieldRoutes subscriptions; grew 26% in fiscal 2026.
- Usage
About 0.27% of GTV
Fees from payments processing and customer financing on contractor jobs run through the platform.
- Professional services
Small share
Onboarding, implementation and training services.
Business model and strategy
Salesforce
How it makes money
Salesforce sells multi-year software subscriptions, mostly priced per user per month, plus consumption pricing for Data 360 and Agentforce. In fiscal 2026 (ended January 31, 2026), subscription and support revenue was $39.39 billion, about 95% of the $41.53 billion total; professional services added $2.14 billion.
Growth strategy
Salesforce is pushing three levers: Agentforce AI agents priced on consumption or flex credits, Data 360 (formerly Data Cloud) to unify customer data, and the Informatica acquisition, closed in November 2025, to add data management and governance. It also cross-sells Slack as the interface for agents and keeps buying back stock under a $50 billion authorization announced in February 2026.
Competitive advantage
Salesforce's advantage is switching cost. Large customers build years of custom objects, workflows, integrations and AppExchange apps on the platform and train administrators on it, so replacing it means re-implementing core sales and service processes. Owning Slack, MuleSoft, Tableau and Informatica also lets Salesforce sell data, integration and collaboration around the CRM record.
ServiceTitan
How it makes money
ServiceTitan sells vertical software to trade contractors and monetizes in two main ways. Subscription revenue comes from per-technician and per-module platform fees for the core system plus add-on Pro products such as Marketing Pro, Phones Pro, Dispatch Pro and Pricebook Pro, along with Aspire (landscaping) and FieldRoutes (pest and lawn).
Growth strategy
ServiceTitan grows by adding contractors, selling more Pro products and Max AI features to existing customers, expanding into commercial trades and adjacent verticals through acquisitions such as Aspire (2021), FieldRoutes (2022) and Convex (2024), and increasing the share of customer job volume processed through its payments and financing tools.
Competitive advantage
ServiceTitan is built around trade-specific workflows such as flat-rate pricebooks, membership agreements, call booking, technician dispatch and equipment history, which generic CRMs do not offer out of the box. Once a contractor moves its customer records, pricebook and accounting connections onto the platform, switching is costly, which supports a net dollar retention rate above 110%.
Questions about Salesforce vs ServiceTitan
Which company has higher revenue — Salesforce, Inc. or ServiceTitan, Inc.?
Salesforce, Inc. reported $41.5B (FY2026), while ServiceTitan, Inc. reported $961.0M (FY2026). By last reported revenue, Salesforce, Inc. is the larger business, with ServiceTitan, Inc. reporting a smaller revenue base.
What is the market cap of Salesforce, Inc. vs ServiceTitan, Inc.?
Salesforce, Inc.'s market capitalisation stands at $185.4B, while ServiceTitan, Inc.'s is $5.7B. Salesforce, Inc. carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to ServiceTitan, Inc..
Which is more financially efficient — Salesforce, Inc. or ServiceTitan, Inc.?
Salesforce, Inc. generates $498k / employee in revenue per employee, while ServiceTitan, Inc. generates $281k / employee. Salesforce, Inc. shows higher revenue efficiency per headcount, though this reflects business model differences — capital-light software companies routinely outperform labour-intensive manufacturers on this metric.
How do Salesforce, Inc. and ServiceTitan, Inc. make money?
Salesforce, Inc. and ServiceTitan, Inc. generate revenue in fundamentally different ways. Salesforce, Inc.: Salesforce sells multi-year software subscriptions, mostly priced per user per month, plus consumption pricing for Data 360 and Agentforce. ServiceTitan, Inc.: ServiceTitan sells vertical software to trade contractors and monetizes in two main ways.
Which company is valued higher relative to revenue — Salesforce, Inc. or ServiceTitan, Inc.?
On a price-to-sales (P/S) basis, Salesforce, Inc. trades at 4.5x P/S and ServiceTitan, Inc. at 5.9x P/S. ServiceTitan, Inc. commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to Salesforce, Inc.. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is Salesforce, Inc. bigger than ServiceTitan, Inc.?
By last reported revenue, Salesforce, Inc. ($41.5B (FY2026)) is the larger company compared to ServiceTitan, Inc. ($961.0M (FY2026)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Salesforce vs ServiceTitan overview