Microsoft

Information Technology Systems Software Redmond, Washington Last filing Jul 29, 2026 · FY2026

                    Revenue
                    FY2026
                
$331.8B
                    3y CAGR +16.1%
                    
                    P80
                    
                    +17.8%
                    
                    Net income
                    FY2026
                
$133.7B
                    Net margin +40.3%
                    
                    P87
                    
                    +31.3%
                    
                    Total assets
                    FY2026
                
$758.4B
                    ROA +17.6%
                    
                    P73
                    
                    +22.5%
                    
                    Operating cash flow
                    FY2026
                
$182.9B
                    FCF margin +20.2%
                    
                    P33
                    
                    +34.4%

19 yrs · FY2008–FY2026 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Year-over-year change per cell; first column has no prior.

Balance Sheet

Assets, liabilities, and equity

30 accounts · 5 years

Total assets $758.4B

Total liabilities $316.0B

Shareholders equity $442.4B

Account	2026	2025	2024	2023	2022
Assets
Cash and Cash Equivalents	-30.8%	+65.1%	-47.2%	+149.1%	—
Short Term Investments	-13.1%	+12.4%	-25.2%	-15.7%	—
Accounts Receivable	+15.7%	+22.8%	+16.9%	+10.0%	—
Inventory	+48.9%	-24.7%	-50.2%	-33.2%	—
Other Current Assets	+88.9%	-1.1%	+19.3%	+28.9%	—
Total Current Assets	+8.7%	+19.7%	-13.3%	+8.6%	—
Property,Plant and Equipment	+52.7%	+51.2%	+41.8%	+28.6%	—
Operating Lease Assets	-2.6%	+30.9%	+32.2%	+9.1%	—
Goodwill	+0.1%	+0.2%	+75.6%	+0.5%	—
Intangible Assets	-17.7%	-18.1%	+194.7%	-17.1%	—
Long Term Investments	+135.9%	+5.5%	+47.8%	+43.4%	—
Other Noncurrent Assets	-4.3%	+11.3%	+19.1%	+39.7%	—
Total Assets	+22.5%	+20.9%	+24.3%	+12.9%	—
Liabilities
Accounts Payable	+53.0%	+26.0%	+21.6%	-4.8%	—
Accrued Liabilities	-16.4%	+19.0%	+16.0%	+2.9%	—
Deferred Revenue	+13.0%	+12.1%	+13.1%	+11.8%	—
Current Portion of Long Term Debt	+207.7%	-66.5%	+70.6%	+90.9%	—
Other Current Liabilities	+6.9%	+30.4%	+30.1%	+12.8%	—
Total Current Liabilities	+19.5%	+12.7%	+20.3%	+9.5%	—
Long Term Debt	-22.6%	-5.9%	+1.7%	-10.7%	—
Deferred Revenue Noncurrent	+1.4%	+4.2%	-10.6%	+1.5%	—
Operating Lease Liabilities Noncurrent	-5.2%	+12.5%	+21.8%	+10.8%	—
Deferred Tax Liabilities	+7.7%	+8.3%	+504.6%	+88.3%	—
Other Noncurrent Liabilities	+31.7%	+29.4%	+26.3%	+4.7%	—
Total Liabilities	+14.7%	+13.1%	+18.4%	+3.8%	—
Equity
Common Stock	+7.6%	+8.1%	+7.7%	+7.8%	—
Retained Earnings	+38.1%	+37.3%	+45.7%	+41.0%	—
Accumulated Other Comprehensive Income	+1.9%	+40.1%	+11.9%	-35.6%	—
Total Stockholders Equity	+28.8%	+27.9%	+30.2%	+23.8%	—
Total Liabilitiesand Equity	+22.5%	+20.9%	+24.3%	+12.9%	—

Income Statement

Revenue, expense, and profitability

14 accounts · 5 years

Revenue $331.8B

Operating income $155.2B

Net income $133.7B

Account	2026	2025	2024	2023	2022
IncomeStatement
Revenues Total Revenue	+17.8%	+14.9%	+15.7%	+6.9%	—
Expenses Cost of Revenue	+21.1%	+18.5%	+12.5%	+5.1%	—
Other Income Expense Gross Profit	+16.3%	+13.4%	+17.1%	+7.7%	—
Expenses Research and Development	+9.5%	+10.1%	+8.5%	+10.9%	—
Expenses Selling,General and Administrative	+5.4%	+2.5%	+5.7%	+9.4%	—
Other Income Expense Operating Income	+20.8%	+17.4%	+23.6%	+6.2%	—
Other Income Expense Other Income/expense	+318.3%	-197.8%	-308.9%	+136.6%	—
Other Income Expense Income Before Tax	+34.2%	+14.7%	+20.7%	+6.7%	—
Income Tax Income Tax Expense	+47.7%	+10.9%	+15.9%	+54.4%	—
net Income net Income	+31.3%	+15.5%	+21.8%	-0.5%	—
net Income Comprehensive Income	+28.6%	+17.1%	+25.7%	+6.7%	—
Earnings Per Share Basic Eps	+31.4%	+15.5%	+22.0%	+0.2%	—
Earnings Per Share Diluted Eps	+31.6%	+15.6%	+21.9%	+0.3%	—
Earnings Per Share Weighted Average Shares Diluted	-0.2%	-0.1%	-0.0%	-0.9%	—

Cash Flow Statement

Operating, investing, and financing flows

22 accounts · 5 years

Operating cash flow $182.9B

Investing cash flow $-139.5B

Financing cash flow $-52.5B

Account	2026	2025	2024	2023	2022
CashFlow
Operating Activities net Income	+31.3%	+15.5%	+21.8%	-0.5%	—
Operating Activities Depreciation and Amortization	+30.9%	+40.4%	+51.2%	-4.1%	—
Operating Activities Stock Based Compensation	+3.6%	+11.6%	+11.7%	+28.1%	—
Operating Activities Deferred Income Taxes	+301.1%	-48.9%	+21.8%	-6.3%	—
Operating Activities Changes In Operating Assets and Liabilities	+8.5%	-393.3%	+176.4%	-635.4%	—
Operating Activities Other Non Cash Items	-307.3%	+226.1%	+733.7%	+147.9%	—
Operating Activities net Cash From Operating Activities	+34.4%	+14.9%	+35.4%	-1.6%	—
Investing Activities Capital Expenditures	-79.6%	-45.1%	-58.2%	-17.7%	—
Investing Activities Business Acquisitions	+70.8%	+91.4%	-4039.6%	+92.4%	—
Investing Activities Purchases of Investments	-96.0%	-67.9%	+52.9%	-42.3%	—
Investing Activities Proceeds From Sale of Investments	+122.2%	-28.8%	-25.5%	+6.6%	—
Investing Activities Other Investing Activities	-957.2%	+278.5%	+58.3%	-10.3%	—
Investing Activities net Cash From Investing Activities	-92.2%	+25.1%	-327.6%	+25.2%	—
Financing Activities Proceeds From Debt	—	-100.0%	—	—	—
Financing Activities Repayment of Debt	+6.7%	+88.9%	-957.1%	+69.5%	—
Financing Activities Repurchase of Common Stock	-20.9%	-6.8%	+22.4%	+32.0%	—
Financing Activities Dividends Paid	-9.8%	-10.6%	-10.0%	-9.2%	—
Financing Activities Proceeds From Stock Issuance	-2.3%	+2.7%	+7.3%	+1.4%	—
Financing Activities Other Financing Activities	+64.7%	-303.9%	+491.7%	-16.6%	—
Financing Activities net Cash From Financing Activities	-1.6%	-36.9%	+14.1%	+25.4%	—
Cash Reconciliation Effect of Exchange Rate On Cash	-411.1%	+130.0%	-8.2%	-37.6%	—
Cash Reconciliation net Change In Cash	-178.0%	+172.8%	-178.9%	+7189.8%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2026	2025	2024	2023	2022
Profitability
Gross margin	+67.9%	+68.8%	+69.8%	+68.9%	+68.4%
Operating margin	+46.8%	+45.6%	+44.6%	+41.8%	+42.1%
Net margin	+40.3%	+36.1%	+36.0%	+34.1%	+36.7%
FCF margin	+20.2%	+25.4%	+30.2%	+28.1%	+32.9%
Growth
Revenue CAGR (3y)	+16.1%	+12.4%	+13.4%	+14.0%	+16.4%
Returns
ROE	+30.2%	+29.6%	+32.8%	+35.1%	+43.7%
ROA	+17.6%	+16.5%	+17.2%	+17.6%	+19.9%
ROIC	+27.1%	+29.7%	+29.6%	+32.8%	+35.8%
Liquidity
Current ratio	1.23x	1.35x	1.27x	1.77x	1.78x
Quick ratio	0.60x	0.71x	0.60x	0.80x	0.61x
Leverage
D/E	0.71x	0.80x	0.91x	1.00x	1.19x
Interest coverage	—	—	—	—	—
Efficiency
Asset turnover	0.44x	0.46x	0.48x	0.51x	0.54x
Cash conversion cycle	-52d	-21d	-17d	-3d	-7d

Valuation

Price against fundamentals

MSFT $510 · 2025-09-12 · 414d old · FY2026

Market cap $3.8T

P/E 28.41x

P/S 11.45x

P/B 8.59x

EV $3.8T

EV/EBITDA —

FCF yield +1.8%

Dividend yield +0.7%

Notes

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