Salesforce unveils $25 billion buyback, its largest ever

The company expects to pay an average of $182 a share under the program, well below where the stock has been trading

Salesforce disclosed a $25 billion accelerated share repurchase at its investor day on Wednesday, calling it the largest ASR in the company's history. The company expects an average price of $182 a share under the program and a resulting reduction in share count of at least 14%.

The figure sits well below recent trading levels. CRM shares closed at $250.54 in the last regular session, down 2.00%, and traded around $255.65 on Wednesday before the buyback was disclosed. The stock has ranged between $146.32 and $269.11 over the past year, according to Robinhood. Salesforce's market capitalization stands at $206.33 billion.

At the same session, held at 1 p.m. Pacific time and led by chief executive Marc Benioff, chief operating officer Miguel Milano and chief financial officer Robin Washington, the company reiterated a $63 billion revenue target for fiscal 2030, ahead of Wall Street's $61.4 billion estimate but unchanged from guidance first given in February 2026. Management also said it expects to return 190% of free cash flow to shareholders in fiscal 2027.

The buyback follows a 19% gain in Salesforce shares after its most recent quarterly results and raised guidance. Pairing a 14% cut in share count with a free cash flow return above 100% points to confidence that Salesforce's own growth, including from its Agentforce and AI partnerships, can fund the spending without straining the balance sheet, a more assertive stance than a simple return of cash to investors.