Comprehensive Stock Comparison
Compare HubSpot, Inc. (HUBS) vs Salesforce, Inc. (CRM) vs Pegasystems Inc. (PEGA) vs Freshworks Inc. (FRSH) vs Sprinklr, Inc. (CXM) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | FRSH | 20.8% revenue growth vs CXM's 8.7% |
| Value | CXM | Lower P/E (12.8x vs 13.7x) |
| Quality / Margins | FRSH | 21.9% net margin vs HUBS's -0.1% |
| Stability / Safety | CRM | Beta 1.04 vs HUBS's 1.43, lower leverage |
| Dividends | CRM | 0.9% yield, 2-year raise streak, vs PEGA's 0.2% |
| Momentum (1Y) | PEGA | +11.7% vs HUBS's -63.5% |
| Efficiency (ROA) | PEGA | 21.5% ROA vs HUBS's -0.1%, ROIC 27.5% vs 0.3% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
HubSpot is a cloud-based customer relationship management platform that helps businesses attract, engage, and delight customers through integrated marketing, sales, and service tools. It generates revenue primarily through subscription fees for its software platform—with pricing tiers based on features and usage—and secondarily through professional services and training. The company's key advantage is its unified, easy-to-use platform that seamlessly connects marketing, sales, and customer service functions, creating a sticky ecosystem that grows with customers' needs.
Salesforce is a cloud-based customer relationship management (CRM) software company that helps businesses manage sales, service, marketing, and commerce operations. It generates revenue primarily through subscription fees for its SaaS platform—with sales cloud (~30%), service cloud (~25%), and platform/other (~45%) being its main segments. Its competitive moat lies in its massive ecosystem of integrated applications, enterprise data architecture, and high switching costs for customers deeply embedded in its platform.
Pegasystems is a software company that provides enterprise applications and platforms for customer engagement and business process automation. It generates revenue primarily through software licensing and cloud subscriptions — with its Pega Platform and Pega Infinity solutions — along with related consulting and support services. The company's key advantage is its unified low-code platform that combines customer relationship management, artificial intelligence, and process automation into a single system, creating switching costs for enterprise clients.
Freshworks provides cloud-based customer engagement software for businesses of all sizes. It generates revenue primarily through subscription fees for its suite of products — including Freshdesk for customer support (~40% of revenue), Freshsales for CRM (~30%), and other tools for marketing and IT service management. The company's key advantage is its unified, user-friendly platform that integrates multiple business functions, allowing customers to avoid the complexity of managing separate point solutions from different vendors.
Sprinklr provides an enterprise cloud platform for unified customer experience management across digital channels. It generates revenue primarily through subscription fees for its software platform — which includes modules for customer care, marketing, advertising, and social engagement — with professional services contributing a smaller portion. The company's competitive advantage lies in its comprehensive, AI-powered platform that integrates customer data from numerous digital channels into a single system of record, creating switching costs for large enterprise clients.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 5 stocks. BestLagging
Financial Scorecard
PEGA leads in 2 of 6 categories (Profitability & Efficiency, Total Returns). CRM leads in 2 (Risk & Volatility, Analyst Outlook). 1 tied.
Financial Metrics (TTM)
CRM is the larger business by revenue, generating $41.5B annually — 49.5x FRSH's $839M. FRSH is the more profitable business, keeping 21.9% of every revenue dollar as net income compared to HUBS's -0.1%. On growth, HUBS holds the edge at +20.9% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | HUBSHubSpot, Inc. | CRMSalesforce, Inc. | PEGAPegasystems Inc. | FRSHFreshworks Inc. | CXMSprinklr, Inc. |
|---|---|---|---|---|---|
| RevenueTrailing 12 months | $3.0B | $41.5B | $1.7B | $839M | $839M |
| EBITDAEarnings before interest/tax | $41M | $11.4B | $342M | $30M | $47M |
| Net IncomeAfter-tax profit | -$4M | $7.5B | $278M | $184M | $113M |
| Free Cash FlowCash after capex | $655M | $14.4B | $439M | $232M | $139M |
| Gross MarginGross profit ÷ Revenue | +84.1% | +77.7% | +75.7% | +85.0% | +68.7% |
| Operating MarginEBIT ÷ Revenue | -1.7% | +21.5% | +17.4% | +1.6% | +4.4% |
| Net MarginNet income ÷ Revenue | -0.1% | +18.0% | +16.0% | +21.9% | +13.4% |
| FCF MarginFCF ÷ Revenue | +21.9% | +34.7% | +25.4% | +27.7% | +16.6% |
| Rev. Growth (YoY)Latest quarter vs prior year | +20.9% | +12.1% | +17.3% | +14.5% | +9.2% |
| EPS Growth (YoY)Latest quarter vs prior year | +93.8% | +18.3% | +3.9% | +10.3% | -71.2% |
Valuation Metrics
At 13.2x trailing earnings, CXM trades at a 96% valuation discount to HUBS's 307.6x P/E. On an enterprise value basis, CRM's 20.9x EV/EBITDA is more attractive than HUBS's 1787.8x.
| Metric | HUBSHubSpot, Inc. | CRMSalesforce, Inc. | PEGAPegasystems Inc. | FRSHFreshworks Inc. | CXMSprinklr, Inc. |
|---|---|---|---|---|---|
| Market CapShares × price | $13.8B | $187.4B | $7.5B | $2.4B | $1.4B |
| Enterprise ValueMkt cap + debt − cash | $13.2B | $186.8B | $7.3B | $1.8B | $1.3B |
| Trailing P/EPrice ÷ TTM EPS | 307.57x | 24.97x | 20.53x | -24.44x | 13.23x |
| Forward P/EPrice ÷ next-FY EPS est. | 21.30x | 16.54x | 16.16x | 13.75x | 12.83x |
| PEG RatioP/E ÷ EPS growth rate | — | 2.04x | — | — | — |
| EV / EBITDAEnterprise value multiple | 1787.77x | 20.95x | 27.77x | — | 31.28x |
| Price / SalesMarket cap ÷ Revenue | 4.41x | 4.51x | 4.27x | 3.29x | 1.80x |
| Price / BookPrice ÷ Book value/share | 6.81x | 3.15x | 10.26x | 2.07x | 2.61x |
| Price / FCFMarket cap ÷ FCF | 19.52x | 13.01x | 14.76x | 16.25x | 19.93x |
Profitability & Efficiency
PEGA delivers a 46.6% return on equity — every $100 of shareholder capital generates $47 in annual profit, vs $-0 for HUBS. FRSH carries lower financial leverage with a 0.03x debt-to-equity ratio, signaling a more conservative balance sheet compared to HUBS's 0.13x. On the Piotroski fundamental quality scale (0–9), CRM scores 8/9 vs CXM's 5/9, reflecting strong financial health.
| Metric | HUBSHubSpot, Inc. | CRMSalesforce, Inc. | PEGAPegasystems Inc. | FRSHFreshworks Inc. | CXMSprinklr, Inc. |
|---|---|---|---|---|---|
| ROE (TTM)Return on equity | -0.2% | +12.6% | +46.6% | +17.8% | +20.2% |
| ROA (TTM)Return on assets | -0.1% | +6.6% | +21.5% | +11.5% | +10.7% |
| ROICReturn on invested capital | +0.3% | +10.9% | +27.5% | -17.8% | +3.4% |
| ROCEReturn on capital employed | +0.3% | +11.9% | +33.4% | -11.9% | +3.5% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 8 | 8 | 5 | 5 |
| Debt / EquityFinancial leverage | 0.13x | 0.11x | 0.08x | 0.03x | 0.08x |
| Net DebtTotal debt minus cash | -$620M | -$590M | -$152M | -$582M | -$97M |
| Cash & Equiv.Liquid assets | $882M | $7.3B | $212M | $620M | $145M |
| Total DebtShort + long-term debt | $262M | $6.7B | $61M | $38M | $49M |
| Interest CoverageEBIT ÷ Interest expense | 12.40x | 44.14x | 112.43x | — | — |
Total Returns (with DRIP)
A $10,000 investment in CRM five years ago would be worth $9,104 today (with dividends reinvested), compared to $1,645 for FRSH. Over the past 12 months, PEGA leads with a +11.7% total return vs HUBS's -63.5%. The 3-year compound annual growth rate (CAGR) favors PEGA at 23.8% vs FRSH's -19.4% — a key indicator of consistent wealth creation.
| Metric | HUBSHubSpot, Inc. | CRMSalesforce, Inc. | PEGAPegasystems Inc. | FRSHFreshworks Inc. | CXMSprinklr, Inc. |
|---|---|---|---|---|---|
| YTD ReturnYear-to-date | -30.8% | -23.2% | -21.9% | -32.6% | -20.5% |
| 1-Year ReturnPast 12 months | -63.5% | -34.0% | +11.7% | -54.2% | -31.3% |
| 3-Year ReturnCumulative with dividends | -31.6% | +21.1% | +89.5% | -47.7% | -46.4% |
| 5-Year ReturnCumulative with dividends | -49.8% | -9.0% | -35.2% | -83.6% | -66.9% |
| 10-Year ReturnCumulative with dividends | +534.9% | +192.3% | +265.1% | -83.6% | -66.9% |
| CAGR (3Y)Annualised 3-year return | -11.9% | +6.6% | +23.8% | -19.4% | -18.7% |
Risk & Volatility
CRM is the less volatile stock with a 1.04 beta — it tends to amplify market swings less than HUBS's 1.43 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. CRM currently trades 64.3% from its 52-week high vs HUBS's 36.1% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | HUBSHubSpot, Inc. | CRMSalesforce, Inc. | PEGAPegasystems Inc. | FRSHFreshworks Inc. | CXMSprinklr, Inc. |
|---|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.43x | 1.04x | 1.43x | 1.31x | 1.08x |
| 52-Week HighHighest price in past year | $732.00 | $303.07 | $68.10 | $17.21 | $9.69 |
| 52-Week LowLowest price in past year | $207.20 | $174.57 | $29.84 | $6.79 | $5.12 |
| % of 52W HighCurrent price vs 52-week peak | +36.1% | +64.3% | +64.2% | +45.4% | +60.1% |
| RSI (14)Momentum oscillator 0–100 | 51.0 | 47.5 | 49.5 | 40.1 | 44.3 |
| Avg Volume (50D)Average daily shares traded | 1.3M | 8.6M | 1.7M | 4.6M | 1.7M |
Analyst Outlook
Analyst consensus: HUBS as "Buy", CRM as "Buy", PEGA as "Buy", FRSH as "Buy", CXM as "Hold". Consensus price targets imply 53.5% upside for CRM (target: $299) vs 33.2% for PEGA (target: $58). For income investors, CRM offers the higher dividend yield at 0.85% vs PEGA's 0.19%.
| Metric | HUBSHubSpot, Inc. | CRMSalesforce, Inc. | PEGAPegasystems Inc. | FRSHFreshworks Inc. | CXMSprinklr, Inc. |
|---|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy | Buy | Buy | Hold |
| Price TargetConsensus 12-month target | $383.00 | $299.00 | $58.25 | $11.43 | $8.00 |
| # AnalystsCovering analysts | 47 | 97 | 23 | 18 | 16 |
| Dividend YieldAnnual dividend ÷ price | — | +0.9% | +0.2% | — | — |
| Dividend StreakConsecutive years of raises | — | 2 | 1 | — | 1 |
| Dividend / ShareAnnual DPS | — | $1.66 | $0.08 | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | +3.6% | +6.7% | +0.2% | +0.6% | +19.1% |
Historical Charts
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Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Oct 21 | Feb 26 | Change |
|---|---|---|---|
| HubSpot, Inc. (HUBS) | 100 | 40.05 | -59.9% |
| Salesforce, Inc. (CRM) | 100 | 76.59 | -23.4% |
| Pegasystems Inc. (PEGA) | 100 | 67.75 | -32.3% |
| Freshworks Inc. (FRSH) | 88.1 | 22.42 | -74.6% |
| Sprinklr, Inc. (CXM) | 100 | 35.54 | -64.5% |
Salesforce, Inc. (CRM) returned -9% over 5 years vs Freshworks Inc. (FRSH)'s -84%.
Chart 2Revenue Growth — 10 Years
| Stock | 2017 | 2026 | Change |
|---|---|---|---|
| HubSpot, Inc. (HUBS) | $376M | $3.1B | +733.6% |
| Salesforce, Inc. (CRM) | $8.4B | $41.5B | +394.8% |
| Pegasystems Inc. (PEGA) | $841M | $1.7B | +107.7% |
| Freshworks Inc. (FRSH) | $119M | $720M | +507.1% |
| Sprinklr, Inc. (CXM) | $324M | $796M | +145.6% |
Salesforce, Inc.'s revenue grew from $8.4B (2017) to $41.5B (2026) — a 19.4% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2017 | 2026 | Change |
|---|---|---|---|
| HubSpot, Inc. (HUBS) | -10.6% | 3.0% | +128.1% |
| Salesforce, Inc. (CRM) | 3.8% | 18.0% | +366.6% |
| Pegasystems Inc. (PEGA) | 3.9% | 22.5% | +475.2% |
| Freshworks Inc. (FRSH) | -0.0% | -13.2% | -224269.5% |
| Sprinklr, Inc. (CXM) | -12.3% | 15.3% | +224.5% |
Salesforce, Inc.'s net margin went from 4% (2017) to 18% (2026).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2026 | Change |
|---|---|---|---|
| Salesforce, Inc. (CRM) | 393.2 | 25 | -93.6% |
| Pegasystems Inc. (PEGA) | 39.6 | 28 | -29.3% |
Salesforce, Inc. has traded in a 25x–393x P/E range over 7 years; current trailing P/E is ~25x. Pegasystems Inc. has traded in a 28x–374x P/E range over 5 years; current trailing P/E is ~21x.
Chart 5EPS Growth — 10 Years
| Stock | 2017 | 2026 | Change |
|---|---|---|---|
| HubSpot, Inc. (HUBS) | -1.08 | 0.86 | +179.6% |
| Salesforce, Inc. (CRM) | 0.26 | 7.8 | +2900.0% |
| Pegasystems Inc. (PEGA) | 0.59 | 2.13 | +258.0% |
| Freshworks Inc. (FRSH) | -0 | -0.32 | -79900.0% |
| Sprinklr, Inc. (CXM) | -0.16 | 0.44 | +375.0% |
Salesforce, Inc.'s EPS grew from $0.26 (2017) to $7.80 (2026) — a 46% CAGR.
Chart 6Free Cash Flow — 5 Years
HubSpot, Inc. generated $708M FCF in 2025 (+300% vs 2021). Salesforce, Inc. generated $14B FCF in 2026 (+252% vs 2021).
HUBS vs CRM vs PEGA vs FRSH vs CXM: Key Questions Answered
9 questions · data-driven answers · updated daily
01Is HUBS or CRM or PEGA or FRSH or CXM a better buy right now?
Sprinklr, Inc. (CXM) offers the better valuation at 13.2x trailing P/E (12.8x forward), making it the more compelling value choice. Analysts rate HubSpot, Inc. (HUBS) a "Buy" — based on 47 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — HUBS or CRM or PEGA or FRSH or CXM?
On trailing P/E, Sprinklr, Inc. (CXM) is the cheapest at 13.2x versus HubSpot, Inc. at 307.6x. On forward P/E, Sprinklr, Inc. is actually cheaper at 12.8x.
03Which is the better long-term investment — HUBS or CRM or PEGA or FRSH or CXM?
Over the past 5 years, Salesforce, Inc. (CRM) delivered a total return of -9.0%, compared to -83.6% for Freshworks Inc. (FRSH). A $10,000 investment in CRM five years ago would be worth approximately $9K today (assuming dividends reinvested). Over 10 years, the gap is even starker: HUBS returned +534.9% versus FRSH's -83.6%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — HUBS or CRM or PEGA or FRSH or CXM?
By beta (market sensitivity over 5 years), Salesforce, Inc. (CRM) is the lower-risk stock at 1.04β versus HubSpot, Inc.'s 1.43β — meaning HUBS is approximately 38% more volatile than CRM relative to the S&P 500. On balance sheet safety, Freshworks Inc. (FRSH) carries a lower debt/equity ratio of 3% versus 13% for HubSpot, Inc. — giving it more financial flexibility in a downturn.
05Which has better profit margins — HUBS or CRM or PEGA or FRSH or CXM?
Pegasystems Inc. (PEGA) is the more profitable company, earning 22.5% net margin versus -13.2% for Freshworks Inc. — meaning it keeps 22.5% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: CRM leads at 21.5% versus -19.2% for FRSH. At the gross margin level — before operating expenses — FRSH leads at 84.3%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is HUBS or CRM or PEGA or FRSH or CXM more undervalued right now?
On forward earnings alone, Sprinklr, Inc. (CXM) trades at 12.8x forward P/E versus 21.3x for HubSpot, Inc. — 8.5x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for CRM: 53.5% to $299.00.
07Which pays a better dividend — HUBS or CRM or PEGA or FRSH or CXM?
In this comparison, CRM (0.9% yield), PEGA (0.2% yield) pay a dividend. HUBS, FRSH, CXM do not pay a meaningful dividend and should not be held primarily for income.
08Is HUBS or CRM or PEGA or FRSH or CXM better for a retirement portfolio?
For long-horizon retirement investors, Salesforce, Inc. (CRM) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 1.04), 0.9% yield, +192.3% 10Y return). Both have compounded well over 10 years (CRM: +192.3%, FRSH: -83.6%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between HUBS and CRM and PEGA and FRSH and CXM?
Both stocks operate in the Technology sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. In terms of investment character: HUBS is a mid-cap quality compounder stock; CRM is a mid-cap quality compounder stock; PEGA is a small-cap quality compounder stock; FRSH is a small-cap quality compounder stock; CXM is a small-cap deep-value stock. CRM pays a dividend while HUBS, PEGA, FRSH, CXM do not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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