CRM
Salesforce, Inc.
CRM offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
TSM
Taiwan Semiconductor Manufacturing Company Limited
TSM has the edge over CRM overall, supported by stronger fundamentals and stronger modeled upside.
CRM Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Strong | |
| Stable |
CRM's revenue, profitability and cash flow are currently healthy, and its balance sheet is stable.
TSM Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Unavailable | |
| Unavailable | |
| Strong |
TSM's balance sheet is currently strong. There isn't enough data to rate its revenue, profitability and cash flow.
CRM PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 20x | $218 | — |
| Cheap | 36x | $393 | +80% |
| Fair | 70x | $766 | +252% |
| Expensive | 293x | $3,206 | +1374% |
Historical ranges are pointers, not guarantees.
CRM's PE is in its cheap range at 20x, but its recent earnings include one-off gains.
TSM PE Valuation
TSM has no meaningful PE right now: it lost money over the past year.
CRM Forward outlook
There aren't enough analyst estimates for CRM to show an outlook.
TSM Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Strong growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect strong earnings and revenue growth for TSM, with profitability improving.
CRM Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $10.96 | +59% |
| Q2 2026 | $8.63 | +35% |
| Q1 2026 | $7.80 | +23% |
| Q4 2025 | $7.49 | +23% |
| Q3 2025 | $6.88 | +20% |
| Q2 2025 | $6.39 | +15% |
| Q1 2025 | $6.36 | +51% |
| Q4 2024 | $6.08 | +131% |
CRM's earnings per share have climbed steadily: $10.96 over the past year, up 59% from the year before, and higher year over year for 13 quarters in a row. Its recent earnings include one-off gains.
TSM Earnings Per Share
TSM and CRM do not have enough comparable growth data to identify a winner.
CRM Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $11.3B | +11% |
| Q2 2026 | $11.1B | +13% |
| Q1 2026 | $11.2B | +12% |
| Q4 2025 | $10.3B | +8.6% |
| Q3 2025 | $10.2B | +9.8% |
| Q2 2025 | $9.8B | +7.6% |
| Q1 2025 | $10B | +7.6% |
| Q4 2024 | $9.4B | +8.3% |
CRM's revenue has grown year over year every quarter since late 2020: $11.3B last quarter, up 11% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 21% | -2.2 points |
| Q2 2026 | 21% | +1.3 points |
| Q1 2026 | 17% | -1.5 points |
| Q4 2025 | 21% | +1.3 points |
| Q3 2025 | 23% | +3.7 points |
| Q2 2025 | 20% | +1.1 points |
| Q1 2025 | 18% | +0.7 points |
| Q4 2024 | 20% | +2.8 points |
CRM's operating margin was 21% last quarter, down 2.2 points from the same quarter a year ago.
TSM Quarterly Revenue
TSM and CRM do not have enough comparable growth data to identify a winner.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 59% | +8 points |
| Q2 2026 | 60% | +11 points |
| Q1 2026 | 58% | +9.6 points |
| Q4 2025 | 54% | +5 points |
| Q3 2025 | 51% | +3.1 points |
| Q2 2025 | 50% | +7.1 points |
| Q1 2025 | 49% | +6.5 points |
| Q4 2024 | 49% | +7.4 points |
TSM has the edge over CRM on profitability, with a higher operating margin.
CRM Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.1B | +81% |
| Q2 2026 | $6.6B | +4.1% |
| Q1 2026 | $5.3B | +39% |
| Q4 2025 | $2.2B | +22% |
| Q3 2025 | $605M | -20% |
| Q2 2025 | $6.3B | +3.5% |
| Q1 2025 | $3.8B | +17% |
| Q4 2024 | $1.8B | +30% |
CRM's free cash flow has been positive every quarter for seven years: $15.2B over the past year, up 21% from the year before.
TSM Free Cash Flow
TSM and CRM do not have enough comparable growth data to identify a winner.
CRM Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -5.7% | -50M shares |
| 1 year | -15% | -141M shares |
| 3 years | -17% | -165M shares |
| 5 years | -14% | -129M shares |
| Available history | -6.6% | -58M shares |
CRM has the edge over TSM on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $84M |
| Q2 2026 | $27.2B |
| Q1 2026 | $3.9B |
| Q4 2025 | $3.8B |
| Q3 2025 | $2.2B |
| Q2 2025 | $2.6B |
| Q1 2025 | $76M |
| Q4 2024 | $1.3B |
CRM spent $35.1B buying back its own shares over the past year, about six times what it spent the year before.
TSM Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | +45.8K shares |
| 1 year | 0% | +391K shares |
| 3 years | 0% | +528K shares |
| 5 years | 0% | +324K shares |
| Available history | 0% | +324K shares |
TSM has 5.2B diluted shares, about the same as a year ago.
CRM Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.5x | Moderate |
| Q2 2026 | 2.4x | Moderate |
| Q1 2026 | 0.6x | Very low |
| Q4 2025 | -0.1x | Net Cash |
| Q3 2025 | -0.2x | Net Cash |
| Q2 2025 | -0.2x | Net Cash |
| Q1 2025 | -0.0x | Net Cash |
| Q4 2024 | 0.0x | Very low |
CRM's net debt is about 2.5 years of its operating earnings (EBITDA), after holding more cash than debt a year ago.
TSM Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.7x | Net Cash |
| Q2 2026 | -0.6x | Net Cash |
| Q1 2026 | -0.7x | Net Cash |
| Q4 2025 | -0.6x | Net Cash |
| Q3 2025 | -0.6x | Net Cash |
| Q2 2025 | -0.6x | Net Cash |
| Q1 2025 | -0.6x | Net Cash |
| Q4 2024 | -0.5x | Net Cash |
TSM has the edge over CRM on leverage, with a lower net debt burden relative to earnings.
CRM Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 50.7 | Neutral |
| Stochastic | 44.2 | Neutral |
CRM's weekly RSI is 51 (neutral) and its Stochastic is 44 (neutral).
TSM Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.8 | Neutral |
| Stochastic | 28.9 | Neutral |
TSM's weekly RSI is 49 (neutral) and its Stochastic is 29 (neutral).
CRM PE vs Technology Sector
| Metric | CRM | Sector median | Relative |
|---|---|---|---|
| PE | 20x | 28x | 29% below |
| PE % | 2 | 35 | 33 pts below |
CRM has the edge over TSM on valuation relative to its sector.
TSM PE vs Technology Sector
| Metric | TSM | Sector median | Relative |
|---|---|---|---|
| PE | 27x | 28x | 3.3% below |
| PE % | 45 | 35 | 10 pts above |
TSM has no meaningful PE right now: it lost money over the past year.
CRM Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $230.9 | 5.8% below |
| 20 week MA | $214.7 | 1.3% above |
| 50 week MA | $206.8 | 5.2% above |
| 100 week MA | $239.7 | 9.2% below |
| 200 week MA | $242.0 | 10% below |
CRM's trend is mixed: it's above two of its five weekly moving averages, and 10% below its 200-week average.
TSM Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $424.4 | 4.4% below |
| 20 week MA | $422.4 | 4% below |
| 50 week MA | $386.5 | 4.9% above |
| 100 week MA | $304.5 | 33% above |
| 200 week MA | $215.6 | 88% above |
TSM has the edge over CRM on trend strength, trading above more of its moving averages.
CRM Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $165.0 | $225.8 | +37% |
| 2021 | $225.8 | $253.1 | +12% |
| 2022 | $253.1 | $129.4 | -49% |
| 2023 | $129.4 | $263.1 | +103% |
| 2024 | $263.1 | $338.5 | +29% |
| 2025 | $338.5 | $266.1 | -21% |
| 2026 YTD | $266.1 | $217.6 | -18% |
CRM's yearly returns have swung widely, from +103% in 2023 to −49% in 2022. It's down 18% so far in 2026.
TSM Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $58.5 | $106.0 | +81% |
| 2021 | $106.0 | $120.7 | +14% |
| 2022 | $120.7 | $74.9 | -38% |
| 2023 | $74.9 | $104.0 | +39% |
| 2024 | $104.0 | $201.6 | +94% |
| 2025 | $201.6 | $302.8 | +50% |
| 2026 YTD | $302.8 | $405.5 | +34% |
TSM has the edge over CRM on returns for 2026, with the stronger performance.