MSFT · Microsoft Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $281.72B | $245.12B | $211.91B | $198.27B | $168.09B | $143.01B |
| Cost of Revenue | $87.83B | $74.11B | $65.86B | $62.65B | $52.23B | $46.08B |
| Gross Profit | $193.89B | $171.01B | $146.05B | $135.62B | $115.86B | $96.94B |
| R&D | $32.49B | $29.51B | $27.20B | $24.51B | $20.72B | $19.27B |
| SG&A | $7.22B | $7.61B | $7.58B | $5.90B | $5.11B | $5.11B |
| Total Operating Expenses | $61.58B | - | - | - | - | - |
| D&A | $22.00B | $15.20B | $11.00B | $12.60B | $9.30B | $10.70B |
| Operating Income | $128.53B | $109.43B | $88.52B | $83.38B | $69.92B | $52.96B |
| Interest Expense | $2.94B | $2.94B | $1.97B | $2.06B | $2.35B | $2.59B |
| Income Tax | $21.80B | $19.65B | $16.95B | $10.98B | $9.83B | $8.76B |
| Net Income | $101.83B | $88.14B | $72.36B | $72.74B | $61.27B | $44.28B |
| EPS - Basic | $13.70 | $11.86 | $9.72 | $9.70 | $8.12 | $5.82 |
| EPS - Diluted | $13.64 | $11.80 | $9.68 | $9.65 | $8.05 | $5.76 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $30.24B | $18.32B | $34.70B | $13.93B | $14.22B | $13.58B |
| Accounts Receivable | $69.91B | $56.92B | $48.69B | $44.26B | $38.04B | $32.01B |
| Inventory | $938.00M | $1.25B | $2.50B | $3.74B | $2.64B | $1.90B |
| Accounts Payable | $27.72B | $22.00B | $18.09B | $19.00B | $15.16B | $12.53B |
| Current Assets | $191.13B | $159.73B | $184.26B | $169.68B | $184.41B | $181.91B |
| Total Assets | $619.00B | $512.16B | $411.98B | $364.84B | $333.78B | $301.31B |
| Current Liabilities | $141.22B | $125.29B | $104.15B | $95.08B | $88.66B | $72.31B |
| Long-term Debt | $40.15B | $42.69B | $41.99B | $47.03B | $50.07B | $59.58B |
| Total Liabilities | $275.52B | $243.69B | $205.75B | $198.30B | $191.79B | $183.01B |
| Stockholders' Equity | $343.48B | $268.48B | $206.22B | $166.54B | $141.99B | $118.30B |
| Retained Earnings | $237.73B | $173.14B | $118.85B | $84.28B | $57.05B | $34.57B |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $136.16B | $118.55B | $87.58B | $89.03B | $76.74B | $60.67B |
| Investing Cash Flow | ($72.60B) | ($96.97B) | ($22.68B) | ($30.31B) | ($27.58B) | ($12.22B) |
| Financing Cash Flow | ($51.70B) | ($37.76B) | ($43.94B) | ($58.88B) | ($48.49B) | ($46.03B) |
| CapEx | $64.55B | $44.48B | $28.11B | $23.89B | $20.62B | $15.44B |
| Free Cash Flow | $71.61B | $74.07B | $59.48B | $65.15B | $56.12B | $45.23B |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 68.8% | 69.8% | 68.9% | 68.4% | 68.9% | 67.8% |
| Operating margin | 45.6% | 44.6% | 41.8% | 42.1% | 41.6% | 37.0% |
| EBITDA margin | 53.4% | 50.8% | 47.0% | 48.4% | 47.1% | 44.5% |
| Net margin | 36.1% | 36.0% | 34.1% | 36.7% | 36.5% | 31.0% |
| Free cash flow margin | 25.4% | 30.2% | 28.1% | 32.9% | 33.4% | 31.6% |
| FCF / Net income | 0.70 | 0.84 | 0.82 | 0.90 | 0.92 | 1.02 |
| R&D / Revenue | 11.5% | 12.0% | 12.8% | 12.4% | 12.3% | 13.5% |
| SG&A / Revenue | 2.6% | 3.1% | 3.6% | 3.0% | 3.0% | 3.6% |
| Effective tax rate | 17.6% | 18.2% | 19.0% | 13.1% | 13.8% | 16.5% |
| Return on assets | 16.5% | 17.2% | 17.6% | 19.9% | 18.4% | 14.7% |
| Return on equity | 29.6% | 32.8% | 35.1% | 43.7% | 43.2% | 37.4% |
| Return on invested capital | 27.6% | 28.8% | 28.9% | 33.9% | 31.4% | 24.9% |
| Liquidity | ||||||
| Current ratio | 1.35 | 1.27 | 1.77 | 1.78 | 2.08 | 2.52 |
| Quick ratio | 1.35 | 1.27 | 1.75 | 1.75 | 2.05 | 2.49 |
| Cash ratio | 0.21 | 0.15 | 0.33 | 0.15 | 0.16 | 0.19 |
| Leverage | ||||||
| Debt / Equity | 0.12 | 0.16 | 0.20 | 0.28 | 0.35 | 0.50 |
| Debt / Assets | 0.06 | 0.08 | 0.10 | 0.13 | 0.15 | 0.20 |
| Debt / EBITDA | 0.27 | 0.34 | 0.42 | 0.49 | 0.63 | 0.94 |
| Interest coverage | 43.8x | 37.3x | 45.0x | 40.4x | 29.8x | 20.4x |
| Equity multiplier | 1.80 | 1.91 | 2.00 | 2.19 | 2.35 | 2.55 |
| Liabilities / Assets | 0.45 | 0.48 | 0.50 | 0.54 | 0.57 | 0.61 |
| Efficiency | ||||||
| Asset turnover | 0.46 | 0.48 | 0.51 | 0.54 | 0.50 | 0.47 |
| Inventory turnover | 93.64 | 59.48 | 26.35 | 16.74 | 19.81 | 24.32 |
| Days sales outstanding | 91d | 85d | 84d | 81d | 83d | 82d |
| Days inventory outstanding | 4d | 6d | 14d | 22d | 18d | 15d |
| Days payable outstanding | 115d | 108d | 100d | 111d | 106d | 99d |
| Cash conversion cycle | -21d | -17d | -3d | -7d | -5d | -3d |
| Valuation | ||||||
| P / E | 36.5x | 37.9x | 35.2x | 26.6x | 33.7x | 35.3x |
| P / B | 10.8x | 12.4x | 12.3x | 11.6x | 14.5x | 13.2x |
| P / S | 13.2x | 13.6x | 12.0x | 9.8x | 12.3x | 10.9x |
| EV / EBITDA | 24.7x | 27.0x | 25.6x | 20.5x | 26.5x | 25.3x |
| Growth | ||||||
| Revenue growth (YoY) | 14.9% | 15.7% | 6.9% | 18.0% | 17.5% | 13.6% |
| Revenue CAGR (3y) | 12.4% | 13.4% | 14.0% | 16.4% | 22.6% | 16.7% |
| Revenue CAGR (5y) | 14.5% | 14.3% | 18.4% | 17.1% | 14.5% | 8.9% |
| Gross profit growth (YoY) | 13.4% | 17.1% | 7.7% | 17.1% | 19.5% | 16.9% |
| Operating income growth (YoY) | 17.4% | 23.6% | 6.2% | 19.3% | 32.0% | 23.3% |
| Net income growth (YoY) | 15.5% | 21.8% | -0.5% | 18.7% | 38.4% | 12.8% |
| EPS growth (YoY) | 15.6% | 21.9% | 0.3% | 19.9% | 39.8% | 13.8% |
| EPS CAGR (3y) | 12.2% | 13.6% | 18.9% | 24.0% | 55.8% | 28.6% |
| EPS CAGR (5y) | 18.8% | 18.5% | 35.4% | 28.9% | 30.8% | 31.2% |
| FCF growth (YoY) | -3.3% | 24.5% | -8.7% | 16.1% | 24.1% | 18.2% |
| FCF CAGR (5y) | 9.6% | 14.1% | 22.3% | 15.7% | 17.6% | 14.3% |
| Book value growth (YoY) | 27.9% | 30.2% | 23.8% | 17.3% | 20.0% | 15.6% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-06-30.
Business segments
$281.72B totalProductivity And Business Processes$120.81B · 42.9%
Intelligent Cloud$106.27B · 37.7%
More Personal Computing$54.65B · 19.4%
Product / service
$563.45B totalService Other$217.78B · 38.7%
Server Products And Cloud Services$98.44B · 17.5%
Microsoft Three Six Five Commercial Products And Cloud Services$87.77B · 15.6%
Product$63.95B · 11.3%
Gaming$23.45B · 4.2%
Linked In Corporation$17.81B · 3.2%
Windows And Devices$17.31B · 3.1%
Search And News Advertising$13.88B · 2.5%
Dynamics Products And Cloud Services$7.83B · 1.4%
Enterprise And Partner Services$7.76B · 1.4%
Microsoft Three Six Five Consumer Products And Cloud Services$7.40B · 1.3%
Other Products And Services$72.00M · 0.0%
Geographic
$281.72B totalUS$144.55B · 51.3%
Non Us$137.18B · 48.7%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
2.01
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
6/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✓Long-term debt decreased
- ✓Current ratio improved
- ✓No share dilution
- ✗Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Services-Prepackaged Software
Comparing MICROSOFT CORP against the 5 most active filers in the same SIC group.
Dividends
$3.56/share trailing 12 months · +9.9% YoY
| Ex-date | Per share |
|---|---|
| May 21, 2026 | $0.9100 |
| Feb 19, 2026 | $0.9100 |
| Nov 20, 2025 | $0.9100 |
| Aug 21, 2025 | $0.8300 |
| May 15, 2025 | $0.8300 |
| Feb 20, 2025 | $0.8300 |
| Nov 21, 2024 | $0.8300 |
| Aug 15, 2024 | $0.7500 |
| May 15, 2024 | $0.7500 |
| Feb 14, 2024 | $0.7500 |
| Nov 15, 2023 | $0.7500 |
| Aug 16, 2023 | $0.6800 |
| May 17, 2023 | $0.6800 |
| Feb 15, 2023 | $0.6800 |
| Nov 16, 2022 | $0.6800 |
| Aug 17, 2022 | $0.6200 |
| May 18, 2022 | $0.6200 |
| Feb 16, 2022 | $0.6200 |
| Nov 17, 2021 | $0.6200 |
| Aug 18, 2021 | $0.5600 |
| May 19, 2021 | $0.5600 |
| Feb 17, 2021 | $0.5600 |
| Nov 18, 2020 | $0.5600 |
| Aug 19, 2020 | $0.5100 |