Comprehensive Stock Comparison
Compare ON24, Inc. (ONTF) vs Salesforce, Inc. (CRM) 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 | CRM | 9.6% revenue growth vs ONTF's -5.9% |
| Value | CRM | Lower P/E (16.5x vs 60.5x) |
| Quality / Margins | CRM | 18.0% net margin vs ONTF's -20.7% |
| Stability / Safety | ONTF | Beta 0.84 vs CRM's 1.04, lower leverage |
| Dividends | CRM | 0.9% yield; 2-year raise streak; ONTF pays no meaningful dividend |
| Momentum (1Y) | ONTF | +43.5% vs CRM's -34.0% |
| Efficiency (ROA) | CRM | 6.6% ROA vs ONTF's -12.6%, ROIC 10.9% vs -21.0% |
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
ON24 operates a cloud-based digital experience platform that helps businesses convert engagement into revenue through interactive webinars, virtual events, and multimedia content. The company generates revenue primarily from subscription fees for its software platform — with additional income from professional services like implementation and premium support — serving enterprises across various industries. Its competitive advantage lies in its specialized focus on B2B digital engagement analytics, capturing first-person data that provides unique insights into audience behavior and content effectiveness.
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.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
CRM leads in 3 of 6 categories (Financial Metrics, Profitability & Efficiency). ONTF leads in 2 (Valuation Metrics, Risk & Volatility).
Financial Metrics (TTM)
CRM is the larger business by revenue, generating $41.5B annually — 298.1x ONTF's $139M. CRM is the more profitable business, keeping 18.0% of every revenue dollar as net income compared to ONTF's -20.7%. On growth, CRM holds the edge at +12.1% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ONTFON24, Inc. | CRMSalesforce, Inc. |
|---|---|---|
| RevenueTrailing 12 months | $139M | $41.5B |
| EBITDAEarnings before interest/tax | -$32M | $11.4B |
| Net IncomeAfter-tax profit | -$29M | $7.5B |
| Free Cash FlowCash after capex | $4M | $14.4B |
| Gross MarginGross profit ÷ Revenue | +74.6% | +77.7% |
| Operating MarginEBIT ÷ Revenue | -25.7% | +21.5% |
| Net MarginNet income ÷ Revenue | -20.7% | +18.0% |
| FCF MarginFCF ÷ Revenue | +2.8% | +34.7% |
| Rev. Growth (YoY)Latest quarter vs prior year | -5.6% | +12.1% |
| EPS Growth (YoY)Latest quarter vs prior year | +28.6% | +18.3% |
Valuation Metrics
| Metric | ONTFON24, Inc. | CRMSalesforce, Inc. |
|---|---|---|
| Market CapShares × price | $342M | $187.4B |
| Enterprise ValueMkt cap + debt − cash | $310M | $186.8B |
| Trailing P/EPrice ÷ TTM EPS | -11.78x | 24.97x |
| Forward P/EPrice ÷ next-FY EPS est. | 60.45x | 16.54x |
| PEG RatioP/E ÷ EPS growth rate | — | 2.04x |
| EV / EBITDAEnterprise value multiple | — | 20.95x |
| Price / SalesMarket cap ÷ Revenue | 2.45x | 4.51x |
| Price / BookPrice ÷ Book value/share | 2.44x | 3.15x |
| Price / FCFMarket cap ÷ FCF | 86.08x | 13.01x |
Profitability & Efficiency
CRM delivers a 12.6% return on equity — every $100 of shareholder capital generates $13 in annual profit, vs $-21 for ONTF. ONTF carries lower financial leverage with a 0.04x debt-to-equity ratio, signaling a more conservative balance sheet compared to CRM's 0.11x. On the Piotroski fundamental quality scale (0–9), CRM scores 8/9 vs ONTF's 5/9, reflecting strong financial health.
| Metric | ONTFON24, Inc. | CRMSalesforce, Inc. |
|---|---|---|
| ROE (TTM)Return on equity | -20.7% | +12.6% |
| ROA (TTM)Return on assets | -12.6% | +6.6% |
| ROICReturn on invested capital | -21.0% | +10.9% |
| ROCEReturn on capital employed | -23.2% | +11.9% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 8 |
| Debt / EquityFinancial leverage | 0.04x | 0.11x |
| Net DebtTotal debt minus cash | -$31M | -$590M |
| Cash & Equiv.Liquid assets | $37M | $7.3B |
| Total DebtShort + long-term debt | $6M | $6.7B |
| Interest CoverageEBIT ÷ Interest expense | -133.98x | 44.14x |
Total Returns (with DRIP)
A $10,000 investment in CRM five years ago would be worth $9,104 today (with dividends reinvested), compared to $1,435 for ONTF. Over the past 12 months, ONTF leads with a +43.5% total return vs CRM's -34.0%. The 3-year compound annual growth rate (CAGR) favors CRM at 6.6% vs ONTF's -1.9% — a key indicator of consistent wealth creation.
| Metric | ONTFON24, Inc. | CRMSalesforce, Inc. |
|---|---|---|
| YTD ReturnYear-to-date | +0.6% | -23.2% |
| 1-Year ReturnPast 12 months | +43.5% | -34.0% |
| 3-Year ReturnCumulative with dividends | -5.6% | +21.1% |
| 5-Year ReturnCumulative with dividends | -85.6% | -9.0% |
| 10-Year ReturnCumulative with dividends | -87.2% | +192.3% |
| CAGR (3Y)Annualised 3-year return | -1.9% | +6.6% |
Risk & Volatility
ONTF is the less volatile stock with a 0.84 beta — it tends to amplify market swings less than CRM's 1.04 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. ONTF currently trades 98.9% from its 52-week high vs CRM's 64.3% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ONTFON24, Inc. | CRMSalesforce, Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.84x | 1.04x |
| 52-Week HighHighest price in past year | $8.10 | $303.07 |
| 52-Week LowLowest price in past year | $4.35 | $174.57 |
| % of 52W HighCurrent price vs 52-week peak | +98.9% | +64.3% |
| RSI (14)Momentum oscillator 0–100 | 65.3 | 47.5 |
| Avg Volume (50D)Average daily shares traded | 404K | 8.6M |
Analyst Outlook
Wall Street rates ONTF as "Hold" and CRM as "Buy". Consensus price targets imply 53.5% upside for CRM (target: $299) vs 1.1% for ONTF (target: $8). CRM is the only dividend payer here at 0.85% yield — a key consideration for income-focused portfolios.
| Metric | ONTFON24, Inc. | CRMSalesforce, Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Buy |
| Price TargetConsensus 12-month target | $8.10 | $299.00 |
| # AnalystsCovering analysts | 7 | 97 |
| Dividend YieldAnnual dividend ÷ price | — | +0.9% |
| Dividend StreakConsecutive years of raises | 2 | 2 |
| Dividend / ShareAnnual DPS | — | $1.66 |
| Buyback YieldShare repurchases ÷ mkt cap | +6.5% | +6.7% |
Historical Charts
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Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Feb 21 | Feb 26 | Change |
|---|---|---|---|
| ON24, Inc. (ONTF) | 100 | 11.25 | -88.7% |
| Salesforce, Inc. (CRM) | 100 | 96.91 | -3.1% |
Salesforce, Inc. (CRM) returned -9% over 5 years vs ON24, Inc. (ONTF)'s -86%.
Chart 2Revenue Growth — 10 Years
| Stock | 2017 | 2026 | Change |
|---|---|---|---|
| ON24, Inc. (ONTF) | $83M | $139M | +68.6% |
| Salesforce, Inc. (CRM) | $8.4B | $41.5B | +394.8% |
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 |
|---|---|---|---|
| ON24, Inc. (ONTF) | -21.3% | -20.7% | +2.7% |
| Salesforce, Inc. (CRM) | 3.8% | 18.0% | +366.6% |
Salesforce, Inc.'s net margin went from 4% (2017) to 18% (2026).
Chart 4P/E Ratio History — 7 Years
| Stock | 2017 | 2026 | Change |
|---|---|---|---|
| Salesforce, Inc. (CRM) | 393.2 | 25 | -93.6% |
Salesforce, Inc. has traded in a 25x–393x P/E range over 7 years; current trailing P/E is ~25x.
Chart 5EPS Growth — 10 Years
| Stock | 2017 | 2026 | Change |
|---|---|---|---|
| ON24, Inc. (ONTF) | -0.43 | -0.68 | -58.1% |
| Salesforce, Inc. (CRM) | 0.26 | 7.8 | +2900.0% |
Salesforce, Inc.'s EPS grew from $0.26 (2017) to $7.80 (2026) — a 46% CAGR.
Chart 6Free Cash Flow — 5 Years
ON24, Inc. generated $4M FCF in 2025 (+144% vs 2021). Salesforce, Inc. generated $14B FCF in 2026 (+252% vs 2021).
ONTF vs CRM: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is ONTF or CRM a better buy right now?
Salesforce, Inc. (CRM) offers the better valuation at 25.0x trailing P/E (16.5x forward), making it the more compelling value choice. Analysts rate Salesforce, Inc. (CRM) a "Buy" — based on 97 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 — ONTF or CRM?
On forward P/E, Salesforce, Inc. is actually cheaper at 16.5x.
03Which is the better long-term investment — ONTF or CRM?
Over the past 5 years, Salesforce, Inc. (CRM) delivered a total return of -9.0%, compared to -85.6% for ON24, Inc. (ONTF). 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: CRM returned +192.3% versus ONTF's -87.2%. 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 — ONTF or CRM?
By beta (market sensitivity over 5 years), ON24, Inc. (ONTF) is the lower-risk stock at 0.84β versus Salesforce, Inc.'s 1.04β — meaning CRM is approximately 23% more volatile than ONTF relative to the S&P 500. On balance sheet safety, ON24, Inc. (ONTF) carries a lower debt/equity ratio of 4% versus 11% for Salesforce, Inc. — giving it more financial flexibility in a downturn.
05Which has better profit margins — ONTF or CRM?
Salesforce, Inc. (CRM) is the more profitable company, earning 18.0% net margin versus -20.7% for ON24, Inc. — meaning it keeps 18.0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: CRM leads at 21.5% versus -25.7% for ONTF. At the gross margin level — before operating expenses — CRM leads at 77.7%, 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 ONTF or CRM more undervalued right now?
On forward earnings alone, Salesforce, Inc. (CRM) trades at 16.5x forward P/E versus 60.5x for ON24, Inc. — 43.9x 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 — ONTF or CRM?
In this comparison, CRM (0.9% yield) pays a dividend. ONTF does not pay a meaningful dividend and should not be held primarily for income.
08Is ONTF or CRM 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%, ONTF: -87.2%), 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 ONTF and CRM?
Both stocks operate in the Technology sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. CRM pays a dividend while ONTF does 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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