Salesforce vs Palantir: AI Stocks Present Divergent Financial Profiles

Salesforce and Palantir are two AI software stocks that investors may compare when looking for the better buy. Salesforce is a global leader in customer relationship management (CRM) technology, while Palantir sells software platforms to governments and companies to integrate their data and apply AI to daily operations.

As of January 31, 2026, Salesforce had $14.4 billion in total debt and $59.1 billion in shareholder equity, with a debt-to-equity ratio of about 0.2x. However, the company issued about $25 billion in debt in the quarter that ended April 30, 2026, to fund an accelerated share repurchase.

Palantir's revenue nearly doubled in the second quarter, and on August 3, 2026, management raised its full-year outlook. The company has no debt outstanding as of December 31, 2025, resulting in a debt-to-equity ratio of 0.0x. Its current ratio at that date was approximately 7.1x.

Valuation metrics show that Salesforce trades at a much lower forward P/E and a much lower P/S ratio compared to Palantir Technologies. While Salesforce looks like the better buy due to its lower valuation, it is also a slower-growing and more indebted company than the fiscal 2026 figures suggest.