Microsoft

Information Technology Systems Software Redmond, Washington Last filing Jul 30, 2025 · FY2025

                    Revenue
                    FY2025
                
$281.7B
                    3y CAGR +12.4%
                    
                    P71
                    
                    +14.9%
                    
                    Net income
                    FY2025
                
$101.8B
                    Net margin +36.1%
                    
                    P91
                    
                    +15.5%
                    
                    Total assets
                    FY2025
                
$619.0B
                    ROA +16.5%
                    
                    P82
                    
                    +20.9%
                    
                    Operating cash flow
                    FY2025
                
$136.2B
                    FCF margin +25.4%
                    
                    P66
                    
                    +14.9%

18 yrs · FY2008–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Running CAGR since the earliest displayed year.

Balance Sheet

Assets, liabilities, and equity

33 accounts · 3 years

Total assets $619.0B

Total liabilities $275.5B

Shareholders equity $343.5B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	-6.6%	-47.2%	—
Short Term Investments	-8.3%	-25.2%	—
Accounts Receivable	+19.8%	+16.9%	—
Inventory	—	—	—
Prepaid Expenses	+8.6%	+19.3%	—
Other Current Assets	—	—	—
Total Current Assets	+1.8%	-13.3%	—
Property,Plant and Equipment	+46.4%	+41.8%	—
Operating Lease Assets	+31.5%	+32.2%	—
Goodwill	+32.7%	+75.6%	—
Intangible Assets	+55.4%	+194.7%	—
Long Term Investments	+24.9%	+47.8%	—
Other Noncurrent Assets	+15.1%	+19.1%	—
Total Assets	+22.6%	+24.3%	—
Liabilities
Accounts Payable	+23.8%	+21.6%	—
Accrued Liabilities	+30.3%	+30.1%	—
Deferred Revenue	—	—	—
Current Portion of Long Term Debt	-24.4%	-57.1%	—
Operating Lease Liabilities	—	—	—
Other Current Liabilities	—	—	—
Total Current Liabilities	+16.4%	+20.3%	—
Long Term Debt	-2.2%	+1.7%	—
Deferred Revenue Noncurrent	—	—	—
Operating Lease Liabilities Noncurrent	+17.0%	+21.8%	—
Deferred Tax Liabilities	-47.2%	+22.3%	—
Other Noncurrent Liabilities	+58.5%	+50.5%	—
Total Liabilities	+15.7%	+18.4%	—
Equity
Common Stock	+7.9%	+7.7%	—
Retained Earnings	+41.4%	+45.7%	—
Treasury Stock	—	—	—
Accumulated Other Comprehensive Income	—	—	—
Total Stockholders Equity	+29.1%	+30.2%	—
Total Liabilitiesand Equity	+22.6%	+24.3%	—

Income Statement

Revenue, expense, and profitability

20 accounts · 3 years

Revenue $281.7B

Operating income $128.5B

Net income $101.8B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	+15.3%	+15.7%	—
Expenses Cost of Revenue	+15.5%	+12.5%	—
Expenses Research and Development	+9.3%	+8.5%	—
Expenses Selling,General and Administrative	—	—	—
Expenses Depreciation and Amortization	+41.4%	+38.2%	—
Expenses Share Based Compensation	+11.6%	+11.7%	—
Expenses Operating Expenses	—	—	—
Other Income Expense Gross Profit	+15.2%	+17.1%	—
Other Income Expense Operating Income	+20.5%	+23.6%	—
Other Income Expense Interest Income	-6.0%	+5.4%	—
Other Income Expense Interest Expense	-15.1%	+49.1%	—
Other Income Expense Other Income/expense	—	—	—
Other Income Expense Income Before Tax	+17.7%	+20.7%	—
Income Tax Income Tax Expense	+13.4%	+15.9%	—
net Income net Income	+18.6%	+21.8%	—
net Income Comprehensive Income	+21.3%	+25.7%	—
Earnings Per Share Basic Eps	+18.7%	+22.0%	—
Earnings Per Share Diluted Eps	+18.7%	+21.9%	—
Earnings Per Share Weighted Average Shares Basic	-0.1%	-0.2%	—
Earnings Per Share Weighted Average Shares Diluted	-0.0%	-0.0%	—

Cash Flow Statement

Operating, investing, and financing flows

22 accounts · 3 years

Operating cash flow $136.2B

Investing cash flow $-72.6B

Financing cash flow $-51.7B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	+18.6%	+21.8%	—
Operating Activities Depreciation and Amortization	+41.4%	+38.2%	—
Operating Activities Stock Based Compensation	—	—	—
Operating Activities Deferred Income Taxes	—	—	—
Operating Activities Changes In Operating Assets and Liabilities	+57.7%	+126.2%	—
Operating Activities net Cash From Operating Activities	+24.7%	+35.4%	—
Investing Activities Capital Expenditures	+51.5%	+58.2%	—
Investing Activities Purchases of Investments	-11.1%	-52.9%	—
Investing Activities Proceeds From Sale of Investments	-30.7%	-26.1%	—
Investing Activities Other Investing Activities	—	—	—
Investing Activities net Cash From Investing Activities	—	—	—
Financing Activities Repayment of Debt	+8.1%	+957.1%	—
Financing Activities Repurchase of Common Stock	-9.0%	-22.4%	—
Financing Activities Dividends Paid	+10.4%	+10.2%	—
Financing Activities Proceeds From Stock Issuance	+5.0%	+7.3%	—
Financing Activities Tax Withholding On Stock Based Compensation	+19.2%	+39.5%	—
Financing Activities Other Financing Activities	—	—	—
Financing Activities net Cash From Financing Activities	—	—	—
Cash Reconciliation Effect of Exchange Rate On Cash	—	—	—
Cash Reconciliation net Change In Cash	-24.2%	—	—
Cash Reconciliation Cash At Beginning of Period	-6.6%	-47.2%	—
Cash Reconciliation Cash At End of Period	-6.6%	-47.2%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+68.8%	+69.8%	+68.9%
Operating margin	+45.6%	+44.6%	+41.8%
Net margin	+36.1%	+36.0%	+34.1%
FCF margin	+25.4%	+30.2%	+28.1%
Growth
Revenue CAGR (3y)	+12.4%	+13.4%	+14.0%
Returns
ROE	+29.6%	+32.8%	+35.1%
ROA	+16.5%	+17.2%	+17.6%
ROIC	+29.7%	+30.3%	+32.8%
Liquidity
Current ratio	1.35x	1.27x	1.77x
Quick ratio	0.71x	0.60x	0.80x
Leverage
D/E	0.80x	0.91x	1.00x
Interest coverage	90.70x	37.29x	44.98x
Efficiency
Asset turnover	0.46x	0.48x	0.51x
Cash conversion cycle	-21d	-17d	—

Valuation

Price against fundamentals

MSFT $510 · 2025-09-12 · 368d old · FY2025

Market cap $3.8T

P/E 37.38x

P/S 13.51x

P/B 11.08x

EV $3.8T

EV/EBITDA 25.37x

FCF yield +1.9%

Dividend yield +0.6%

Notes

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