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AI Cloud·MSFT

Microsoft Corporation

NASDAQ · US

Operator of Azure, a hyperscale cloud platform selling GPU instances, AI supercomputing capacity, and Azure AI services.

AI relevance

Core AI cloud buyer and seller, with Azure capacity supporting enterprise AI workloads and major frontier-model partners.

AI Cloud Hyperscaler

Price

$482.85

Change

+1.70 (+0.35%)

Market cap

$3.59T

52w range

$349–$554

Exchange

NASDAQ

Country

Jason's Chips

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Price chart

MSFT market performance

Daily close for Microsoft Corporation

Latest close: $483.5
Range move: -$20.76 (-4.1%)
Range high: $542.1
Range low: $352.8
Latest volume: 9.5M
Source: FMP EOD

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Exports

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CSV

Income statement

12 annual rows

Revenue, gross profit, R&D, operating income, EBITDA, net income, and EPS.

Annual

Balance sheet

12 annual rows

Cash, receivables, inventory, PP&E, assets, debt, liabilities, and equity.

Annual

Cash flow

12 annual rows

Operating cash flow, capital expenditures, and free cash flow.

Annual

Key metrics

12 annual rows

Enterprise value, valuation multiples, returns, yields, and cash conversion.

Annual

Ratios

12 annual rows

Margins, liquidity ratios, valuation ratios, leverage, and per-share metrics.

Annual

Chart data

1255 rows

Five years of daily close and volume data powering the company chart.

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Transcript list

83 rows

Available earnings-call transcript dates by fiscal year and quarter.

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StreetBuy

Analyst expectations

Consensus target

$547.74

+13.4%

Target range

$400.00 - $690.00

Rating mix

Buy

82 ratings

Next FY revenue

$390.58B

2027-06-30

Next FY EPS

$19.72

$19.05 - $20.53

Rating consensus82 ratings

Strong buy

Buy

Hold

Sell

Strong sell

Annual estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2027-06-30	$390.58B	$382.11B - $396.06B	$19.72	$19.05 - $20.53	$213.90B	$177.45B	$146.70B	$49.60B	37 rev / 31 EPS
2028-06-30	$467.69B	$438.03B - $494.49B	$23.51	$22.55 - $24.57	$256.12B	$212.48B	$175.38B	$59.39B	37 rev / 28 EPS
2029-06-30	$562.06B	$487.61B - $618.87B	$28.65	$26.60 - $32.35	$307.81B	$255.36B	$213.62B	$71.38B	24 rev / 14 EPS
2030-06-30	$655.80B	$615.67B - $693.76B	$35.15	$32.35 - $37.80	$359.14B	$297.94B	$261.97B	$83.28B	13 rev / 12 EPS
2031-06-30	$869.91B	$816.68B - $920.27B	$44.85	$41.28 - $48.23	$476.40B	$395.22B	$334.27B	$110.47B	11 rev / 7 EPS

Quarterly estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2026-09-30	$90.59B	$89.90B - $91.36B	$4.71	$4.50 - $4.89	$49.61B	$41.16B	$35.14B	$11.50B	24 rev / 20 EPS
2026-12-30	$95.51B	$93.32B - $96.41B	$4.84	$4.68 - $4.98	$52.30B	$43.39B	$36.10B	$12.13B	24 rev / 20 EPS
2027-03-30	$98.06B	$96.50B - $99.78B	$4.89	$4.78 - $5.00	$53.70B	$44.55B	$36.41B	$12.45B	12 rev / 9 EPS
2027-06-30	$106.37B	$104.68B - $108.23B	$5.18	$5.08 - $5.30	$58.25B	$48.33B	$38.63B	$13.51B	13 rev / 9 EPS
2027-09-30	$108.20B	$106.48B - $110.09B	$5.52	$5.41 - $5.65	$59.26B	$49.16B	$41.17B	$13.74B	12 rev / 9 EPS
2027-12-30	$114.48B	$112.65B - $116.48B	$5.74	$5.62 - $5.87	$62.69B	$52.01B	$42.79B	$14.54B	13 rev / 9 EPS
2028-03-30	$117.64B	$115.76B - $119.70B	$5.88	$5.76 - $6.02	$64.42B	$53.45B	$43.83B	$14.94B	16 rev / 10 EPS
2028-06-30	$127.74B	$125.71B - $129.98B	$6.30	$6.17 - $6.45	$69.96B	$58.04B	$46.98B	$16.22B	11 rev / 10 EPS

Price target history

Window	Targets	Average target
Last month	12	$567.83
Last quarter	20	$545.70
Last year	80	$576.67
All time	270	$449.64

Sources: StreetInsider, TheFly, Benzinga, TipRanks Contributor, Pulse 2.0, MarketWatch, Barrons, TheStreet

Latest grade actions

Date	Firm	Action	Previous	New
2026-08-12	Wells Fargo	Maintain	Overweight	Overweight
2026-08-05	Tigress Financial	Maintain	Buy	Buy
2026-07-30	Stifel	Maintain	Hold	Hold
2026-07-30	Bernstein	Maintain	Outperform	Outperform
2026-07-30	Evercore ISI Group	Maintain	Outperform	Outperform
2026-07-30	TD Cowen	Maintain	Buy	Buy
2026-07-30	Wells Fargo	Maintain	Overweight	Overweight
2026-07-30	Barclays	Maintain	Overweight	Overweight

Historical rating snapshots

Date	Strong buy	Buy	Hold
2026-08-01	14	40	3
2026-07-01	14	42	3
2026-06-01	13	41	3
2026-05-01	12	43	3
2026-04-01	10	45	3
2026-03-01	10	45	3
2026-02-01	12	45	3
2026-01-01	12	45	2

FinancialsFY 2026

Financials

Revenue

$331.84B

Gross margin

67.9%

Operating income

$155.24B

Free cash flow

$66.99B

Cash + ST investments

$76.84B

Net debt

$107.87B

ROE

30.2%

ROIC

20.6%

EV / sales

8.7x

EV / EBITDA

13.9x

R&D / revenue

10.7%

Current ratio

1.2x

Income statement annual

Period	Revenue	Gross profit	Gross margin	R&D	Operating income	EBITDA	Net income	EPS
FY 2026	$331.84B	$225.47B	67.9%	$35.56B	$155.24B	$207.52B	$133.75B	$18.00
FY 2025	$281.72B	$193.89B	68.8%	$32.49B	$128.53B	$160.16B	$101.83B	$13.70
FY 2024	$245.12B	$171.01B	69.8%	$29.51B	$109.43B	$133.01B	$88.14B	$11.86
FY 2023	$211.91B	$146.05B	68.9%	$27.20B	$88.52B	$105.14B	$72.36B	$9.72
FY 2022	$198.27B	$135.62B	68.4%	$24.51B	$83.38B	$100.24B	$72.74B	$9.70
FY 2021	$168.09B	$115.86B	68.9%	$20.72B	$69.92B	$85.13B	$61.27B	$8.12
FY 2020	$143.01B	$96.94B	67.8%	$19.27B	$52.96B	$68.42B	$44.28B	$5.82
FY 2019	$125.84B	$82.93B	65.9%	$16.88B	$42.96B	$58.06B	$39.24B	$5.11
FY 2018	$110.36B	$72.01B	65.2%	$14.73B	$35.06B	$49.47B	$16.57B	$2.15
FY 2017	$96.57B	$62.31B	64.5%	$13.04B	$29.02B	$40.90B	$25.49B	$3.29
FY 2016	$91.15B	$58.37B	64.0%	$11.99B	$26.08B	$33.50B	$20.54B	$2.12
FY 2015	$93.58B	$60.54B	64.7%	$12.05B	$18.16B	$25.25B	$12.19B	$1.49

Cash flow annual

Period	Operating cash flow	Capex	Free cash flow
FY 2026	$182.94B	$115.95B	$66.99B
FY 2025	$136.16B	$64.55B	$71.61B
FY 2024	$118.55B	$44.48B	$74.07B
FY 2023	$87.58B	$28.11B	$59.48B
FY 2022	$89.03B	$23.89B	$65.15B
FY 2021	$76.74B	$20.62B	$56.12B
FY 2020	$60.67B	$15.44B	$45.23B
FY 2019	$52.19B	$13.93B	$38.26B
FY 2018	$43.88B	$11.63B	$32.25B
FY 2017	$39.51B	$8.13B	$31.38B
FY 2016	$33.33B	$8.34B	$24.98B
FY 2015	$29.67B	$5.94B	$23.72B

Balance sheet annual

Period	Cash + ST inv.	Receivables	Inventory	PP&E	Assets	Debt	Net debt	Liabilities	Equity
FY 2026	$76.84B	$80.88B	$1.40B	$337.25B	$758.38B	$128.81B	$107.87B	$315.99B	$442.39B
FY 2025	$94.56B	$69.91B	$938.0M	$229.79B	$619.00B	$112.18B	$81.94B	$275.52B	$343.48B
FY 2024	$75.53B	$56.92B	$1.25B	$154.55B	$512.16B	$97.85B	$79.54B	$243.69B	$268.48B
FY 2023	$111.26B	$48.69B	$2.50B	$109.99B	$411.98B	$79.44B	$44.74B	$205.75B	$206.22B
FY 2022	$104.75B	$44.26B	$3.74B	$87.55B	$364.84B	$78.40B	$64.47B	$198.30B	$166.54B
FY 2021	$130.26B	$38.04B	$2.64B	$70.80B	$333.78B	$82.28B	$68.05B	$191.79B	$141.99B
FY 2020	$136.53B	$32.01B	$1.90B	$52.90B	$301.31B	$82.11B	$68.53B	$183.01B	$118.30B
FY 2019	$133.82B	$29.52B	$2.06B	$43.86B	$286.56B	$86.45B	$75.10B	$184.23B	$102.33B
FY 2018	$133.77B	$26.48B	$2.66B	$36.15B	$258.85B	$87.51B	$75.56B	$176.13B	$82.72B
FY 2017	$132.98B	$22.43B	$2.18B	$30.29B	$250.31B	$95.53B	$87.86B	$162.60B	$87.71B
FY 2016	$113.24B	$18.28B	$2.25B	$18.36B	$193.47B	$54.25B	$47.74B	$121.47B	$72.00B
FY 2015	$96.53B	$17.91B	$2.90B	$14.73B	$174.47B	$35.29B	$29.70B	$94.39B	$80.08B

Annual ratios and key metrics

Period	Gross margin	Op margin	Net margin	Current	Quick	ROE	ROIC	EV / sales	EV / EBITDA	FCF yield	R&D / rev.	Cash cycle
FY 2026	67.9%	46.8%	40.3%	1.2x	1.2x	30.2%	20.6%	8.7x	13.9x	2.4%	10.7%	-52d
FY 2025	68.8%	45.6%	36.1%	1.4x	1.3x	29.6%	21.6%	13.4x	23.6x	1.9%	11.5%	-21d
FY 2024	69.8%	44.6%	36.0%	1.3x	1.3x	32.8%	22.3%	14.2x	26.1x	2.2%	12.0%	-17d
FY 2023	68.9%	41.8%	34.1%	1.8x	1.7x	35.1%	22.6%	12.2x	24.5x	2.3%	12.8%	-3d
FY 2022	68.4%	42.1%	36.7%	1.8x	1.7x	43.7%	26.3%	10.0x	19.8x	3.4%	12.4%	-7d
FY 2021	68.9%	41.6%	36.5%	2.1x	2.1x	43.2%	23.5%	12.6x	24.8x	2.7%	12.3%	-5d
FY 2020	67.8%	37.0%	31.0%	2.5x	2.5x	37.4%	18.8%	11.3x	23.6x	2.9%	13.5%	-3d
FY 2019	65.9%	34.1%	31.2%	2.5x	2.5x	38.3%	17.2%	8.9x	19.2x	3.7%	13.4%	23d
FY 2018	65.2%	31.8%	15.0%	2.9x	2.9x	20.0%	7.7%	7.6x	16.9x	4.2%	13.3%	31d
FY 2017	64.5%	30.1%	26.4%	2.9x	2.9x	29.1%	12.0%	6.4x	15.2x	5.9%	13.5%	29d
FY 2016	64.0%	28.6%	22.5%	2.4x	2.3x	28.5%	14.2%	5.0x	13.5x	6.2%	13.2%	21d
FY 2015	64.7%	19.4%	13.0%	2.5x	2.4x	15.2%	9.0%	4.2x	15.5x	6.6%	12.9%	29d

Annual growth

Period	Revenue	Gross profit	R&D	Op income	Net income	EPS	FCF	Capex	Cash + ST inv.	Inventory	Assets	Debt
FY 2026	+17.8%	+16.3%	+9.5%	+20.8%	+31.3%	+31.4%	-6.5%	-79.6%	-18.7%	+48.9%	+22.5%	+14.8%
FY 2025	+14.9%	+13.4%	+10.1%	+17.4%	+15.5%	+15.5%	-3.3%	-45.1%	+25.2%	-24.7%	+20.9%	+14.6%
FY 2024	+15.7%	+17.1%	+8.5%	+23.6%	+21.8%	+22.0%	+24.5%	-58.2%	-32.1%	-50.2%	+24.3%	+23.2%
FY 2023	+6.9%	+7.7%	+10.9%	+6.2%	-0.5%	+0.2%	-8.7%	-17.7%	+6.2%	-33.2%	+12.9%	+1.3%
FY 2022	+18.0%	+17.1%	+18.3%	+19.3%	+18.7%	+19.5%	+16.1%	-15.8%	-19.6%	+42.0%	+9.3%	-4.7%
FY 2021	+17.5%	+19.5%	+7.5%	+32.0%	+38.4%	+39.5%	+24.1%	-33.6%	-4.6%	+39.1%	+10.8%	+0.2%
FY 2020	+13.6%	+16.9%	+14.2%	+23.3%	+12.8%	+13.9%	+18.2%	-10.9%	+2.0%	-8.1%	+5.1%	-5.0%
FY 2019	+14.0%	+15.2%	+14.6%	+22.5%	+136.8%	+137.7%	+18.6%	-19.7%	+0.0%	-22.5%	+10.7%	-1.2%
FY 2018	+14.3%	+15.6%	+13.0%	+20.8%	-35.0%	-34.7%	+2.8%	-43.1%	+0.6%	+22.1%	+3.4%	-8.4%
FY 2017	+5.9%	+6.7%	+8.8%	+11.3%	+24.1%	+55.2%	+25.6%	+2.6%	+17.4%	-3.1%	+29.4%	+76.1%
FY 2016	-2.6%	-3.6%	-0.5%	+43.6%	+68.4%	+42.3%	+5.3%	-40.4%	+17.3%	-22.4%	+10.9%	+53.7%
FY 2015	+7.8%	+1.3%	+5.8%	-34.6%	-44.8%	-44.0%	-12.2%	-8.4%	+12.6%	+9.1%	+1.2%	+55.8%

SegmentsFY 2026

Revenue Mix

Period	Total	UNITED STATES	Non Us
FY 2026	$331.84B	$170.79B	$161.04B
FY 2025	$281.72B	$144.55B	$137.18B
FY 2024	$245.12B	$124.70B	$120.42B
FY 2023	$211.91B	$106.74B	$105.17B
FY 2022	$198.27B	$100.22B	$98.05B
FY 2021	$168.09B	$83.95B	$84.14B
FY 2020	$143.01B	$73.16B	$69.86B
FY 2019	$125.84B	$64.20B	$61.64B
FY 2018	$110.36B	$55.93B	$54.43B
FY 2017	$89.95B	$45.25B	$44.70B
FY 2016	$85.32B	$40.58B	$44.74B
FY 2015	$93.58B	$42.94B	$50.64B

Transcripts

Events

Next earnings

2026-10-28EPS est $4.67

Recent filings

42026-08-17
42026-08-06
42026-08-05

Latest news

PRGS or MSFT: Which Is the Better Value Stock Right Now?
Zacks Investment Research · 2026-08-21
IREN Clears Its Biggest AI Test With Microsoft
GuruFocus · 2026-08-21

Analyst expectations

Consensus target

$547.74

+13.4%

Target range

$400.00 - $690.00

Rating mix

Buy

82 ratings

Next FY revenue

$390.58B

2027-06-30

Next FY EPS

$19.72

$19.05 - $20.53

Rating consensus82 ratings

Strong buy

Buy

Hold

Sell

Strong sell

Annual estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2027-06-30	$390.58B	$382.11B - $396.06B	$19.72	$19.05 - $20.53	$213.90B	$177.45B	$146.70B	$49.60B	37 rev / 31 EPS
2028-06-30	$467.69B	$438.03B - $494.49B	$23.51	$22.55 - $24.57	$256.12B	$212.48B	$175.38B	$59.39B	37 rev / 28 EPS
2029-06-30	$562.06B	$487.61B - $618.87B	$28.65	$26.60 - $32.35	$307.81B	$255.36B	$213.62B	$71.38B	24 rev / 14 EPS
2030-06-30	$655.80B	$615.67B - $693.76B	$35.15	$32.35 - $37.80	$359.14B	$297.94B	$261.97B	$83.28B	13 rev / 12 EPS
2031-06-30	$869.91B	$816.68B - $920.27B	$44.85	$41.28 - $48.23	$476.40B	$395.22B	$334.27B	$110.47B	11 rev / 7 EPS

Quarterly estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2026-09-30	$90.59B	$89.90B - $91.36B	$4.71	$4.50 - $4.89	$49.61B	$41.16B	$35.14B	$11.50B	24 rev / 20 EPS
2026-12-30	$95.51B	$93.32B - $96.41B	$4.84	$4.68 - $4.98	$52.30B	$43.39B	$36.10B	$12.13B	24 rev / 20 EPS
2027-03-30	$98.06B	$96.50B - $99.78B	$4.89	$4.78 - $5.00	$53.70B	$44.55B	$36.41B	$12.45B	12 rev / 9 EPS
2027-06-30	$106.37B	$104.68B - $108.23B	$5.18	$5.08 - $5.30	$58.25B	$48.33B	$38.63B	$13.51B	13 rev / 9 EPS
2027-09-30	$108.20B	$106.48B - $110.09B	$5.52	$5.41 - $5.65	$59.26B	$49.16B	$41.17B	$13.74B	12 rev / 9 EPS
2027-12-30	$114.48B	$112.65B - $116.48B	$5.74	$5.62 - $5.87	$62.69B	$52.01B	$42.79B	$14.54B	13 rev / 9 EPS
2028-03-30	$117.64B	$115.76B - $119.70B	$5.88	$5.76 - $6.02	$64.42B	$53.45B	$43.83B	$14.94B	16 rev / 10 EPS
2028-06-30	$127.74B	$125.71B - $129.98B	$6.30	$6.17 - $6.45	$69.96B	$58.04B	$46.98B	$16.22B	11 rev / 10 EPS

Price target history

Window	Targets	Average target
Last month	12	$567.83
Last quarter	20	$545.70
Last year	80	$576.67
All time	270	$449.64

Sources: StreetInsider, TheFly, Benzinga, TipRanks Contributor, Pulse 2.0, MarketWatch, Barrons, TheStreet

Latest grade actions

Date	Firm	Action	Previous	New
2026-08-12	Wells Fargo	Maintain	Overweight	Overweight
2026-08-05	Tigress Financial	Maintain	Buy	Buy
2026-07-30	Stifel	Maintain	Hold	Hold
2026-07-30	Bernstein	Maintain	Outperform	Outperform
2026-07-30	Evercore ISI Group	Maintain	Outperform	Outperform
2026-07-30	TD Cowen	Maintain	Buy	Buy
2026-07-30	Wells Fargo	Maintain	Overweight	Overweight
2026-07-30	Barclays	Maintain	Overweight	Overweight

Historical rating snapshots

Date	Strong buy	Buy	Hold
2026-08-01	14	40	3
2026-07-01	14	42	3
2026-06-01	13	41	3
2026-05-01	12	43	3
2026-04-01	10	45	3
2026-03-01	10	45	3
2026-02-01	12	45	3
2026-01-01	12	45	2

Financials

Revenue

$331.84B

Gross margin

67.9%

Operating income

$155.24B

Free cash flow

$66.99B

Cash + ST investments

$76.84B

Net debt

$107.87B

ROE

30.2%

ROIC

20.6%

EV / sales

8.7x

EV / EBITDA

13.9x

R&D / revenue

10.7%

Current ratio

1.2x

Income statement annual

Period	Revenue	Gross profit	Gross margin	R&D	Operating income	EBITDA	Net income	EPS
FY 2026	$331.84B	$225.47B	67.9%	$35.56B	$155.24B	$207.52B	$133.75B	$18.00
FY 2025	$281.72B	$193.89B	68.8%	$32.49B	$128.53B	$160.16B	$101.83B	$13.70
FY 2024	$245.12B	$171.01B	69.8%	$29.51B	$109.43B	$133.01B	$88.14B	$11.86
FY 2023	$211.91B	$146.05B	68.9%	$27.20B	$88.52B	$105.14B	$72.36B	$9.72
FY 2022	$198.27B	$135.62B	68.4%	$24.51B	$83.38B	$100.24B	$72.74B	$9.70
FY 2021	$168.09B	$115.86B	68.9%	$20.72B	$69.92B	$85.13B	$61.27B	$8.12
FY 2020	$143.01B	$96.94B	67.8%	$19.27B	$52.96B	$68.42B	$44.28B	$5.82
FY 2019	$125.84B	$82.93B	65.9%	$16.88B	$42.96B	$58.06B	$39.24B	$5.11
FY 2018	$110.36B	$72.01B	65.2%	$14.73B	$35.06B	$49.47B	$16.57B	$2.15
FY 2017	$96.57B	$62.31B	64.5%	$13.04B	$29.02B	$40.90B	$25.49B	$3.29
FY 2016	$91.15B	$58.37B	64.0%	$11.99B	$26.08B	$33.50B	$20.54B	$2.12
FY 2015	$93.58B	$60.54B	64.7%	$12.05B	$18.16B	$25.25B	$12.19B	$1.49

Cash flow annual

Period	Operating cash flow	Capex	Free cash flow
FY 2026	$182.94B	$115.95B	$66.99B
FY 2025	$136.16B	$64.55B	$71.61B
FY 2024	$118.55B	$44.48B	$74.07B
FY 2023	$87.58B	$28.11B	$59.48B
FY 2022	$89.03B	$23.89B	$65.15B
FY 2021	$76.74B	$20.62B	$56.12B
FY 2020	$60.67B	$15.44B	$45.23B
FY 2019	$52.19B	$13.93B	$38.26B
FY 2018	$43.88B	$11.63B	$32.25B
FY 2017	$39.51B	$8.13B	$31.38B
FY 2016	$33.33B	$8.34B	$24.98B
FY 2015	$29.67B	$5.94B	$23.72B

Balance sheet annual

Period	Cash + ST inv.	Receivables	Inventory	PP&E	Assets	Debt	Net debt	Liabilities	Equity
FY 2026	$76.84B	$80.88B	$1.40B	$337.25B	$758.38B	$128.81B	$107.87B	$315.99B	$442.39B
FY 2025	$94.56B	$69.91B	$938.0M	$229.79B	$619.00B	$112.18B	$81.94B	$275.52B	$343.48B
FY 2024	$75.53B	$56.92B	$1.25B	$154.55B	$512.16B	$97.85B	$79.54B	$243.69B	$268.48B
FY 2023	$111.26B	$48.69B	$2.50B	$109.99B	$411.98B	$79.44B	$44.74B	$205.75B	$206.22B
FY 2022	$104.75B	$44.26B	$3.74B	$87.55B	$364.84B	$78.40B	$64.47B	$198.30B	$166.54B
FY 2021	$130.26B	$38.04B	$2.64B	$70.80B	$333.78B	$82.28B	$68.05B	$191.79B	$141.99B
FY 2020	$136.53B	$32.01B	$1.90B	$52.90B	$301.31B	$82.11B	$68.53B	$183.01B	$118.30B
FY 2019	$133.82B	$29.52B	$2.06B	$43.86B	$286.56B	$86.45B	$75.10B	$184.23B	$102.33B
FY 2018	$133.77B	$26.48B	$2.66B	$36.15B	$258.85B	$87.51B	$75.56B	$176.13B	$82.72B
FY 2017	$132.98B	$22.43B	$2.18B	$30.29B	$250.31B	$95.53B	$87.86B	$162.60B	$87.71B
FY 2016	$113.24B	$18.28B	$2.25B	$18.36B	$193.47B	$54.25B	$47.74B	$121.47B	$72.00B
FY 2015	$96.53B	$17.91B	$2.90B	$14.73B	$174.47B	$35.29B	$29.70B	$94.39B	$80.08B

Annual ratios and key metrics

Period	Gross margin	Op margin	Net margin	Current	Quick	ROE	ROIC	EV / sales	EV / EBITDA	FCF yield	R&D / rev.	Cash cycle
FY 2026	67.9%	46.8%	40.3%	1.2x	1.2x	30.2%	20.6%	8.7x	13.9x	2.4%	10.7%	-52d
FY 2025	68.8%	45.6%	36.1%	1.4x	1.3x	29.6%	21.6%	13.4x	23.6x	1.9%	11.5%	-21d
FY 2024	69.8%	44.6%	36.0%	1.3x	1.3x	32.8%	22.3%	14.2x	26.1x	2.2%	12.0%	-17d
FY 2023	68.9%	41.8%	34.1%	1.8x	1.7x	35.1%	22.6%	12.2x	24.5x	2.3%	12.8%	-3d
FY 2022	68.4%	42.1%	36.7%	1.8x	1.7x	43.7%	26.3%	10.0x	19.8x	3.4%	12.4%	-7d
FY 2021	68.9%	41.6%	36.5%	2.1x	2.1x	43.2%	23.5%	12.6x	24.8x	2.7%	12.3%	-5d
FY 2020	67.8%	37.0%	31.0%	2.5x	2.5x	37.4%	18.8%	11.3x	23.6x	2.9%	13.5%	-3d
FY 2019	65.9%	34.1%	31.2%	2.5x	2.5x	38.3%	17.2%	8.9x	19.2x	3.7%	13.4%	23d
FY 2018	65.2%	31.8%	15.0%	2.9x	2.9x	20.0%	7.7%	7.6x	16.9x	4.2%	13.3%	31d
FY 2017	64.5%	30.1%	26.4%	2.9x	2.9x	29.1%	12.0%	6.4x	15.2x	5.9%	13.5%	29d
FY 2016	64.0%	28.6%	22.5%	2.4x	2.3x	28.5%	14.2%	5.0x	13.5x	6.2%	13.2%	21d
FY 2015	64.7%	19.4%	13.0%	2.5x	2.4x	15.2%	9.0%	4.2x	15.5x	6.6%	12.9%	29d

Annual growth

Period	Revenue	Gross profit	R&D	Op income	Net income	EPS	FCF	Capex	Cash + ST inv.	Inventory	Assets	Debt
FY 2026	+17.8%	+16.3%	+9.5%	+20.8%	+31.3%	+31.4%	-6.5%	-79.6%	-18.7%	+48.9%	+22.5%	+14.8%
FY 2025	+14.9%	+13.4%	+10.1%	+17.4%	+15.5%	+15.5%	-3.3%	-45.1%	+25.2%	-24.7%	+20.9%	+14.6%
FY 2024	+15.7%	+17.1%	+8.5%	+23.6%	+21.8%	+22.0%	+24.5%	-58.2%	-32.1%	-50.2%	+24.3%	+23.2%
FY 2023	+6.9%	+7.7%	+10.9%	+6.2%	-0.5%	+0.2%	-8.7%	-17.7%	+6.2%	-33.2%	+12.9%	+1.3%
FY 2022	+18.0%	+17.1%	+18.3%	+19.3%	+18.7%	+19.5%	+16.1%	-15.8%	-19.6%	+42.0%	+9.3%	-4.7%
FY 2021	+17.5%	+19.5%	+7.5%	+32.0%	+38.4%	+39.5%	+24.1%	-33.6%	-4.6%	+39.1%	+10.8%	+0.2%
FY 2020	+13.6%	+16.9%	+14.2%	+23.3%	+12.8%	+13.9%	+18.2%	-10.9%	+2.0%	-8.1%	+5.1%	-5.0%
FY 2019	+14.0%	+15.2%	+14.6%	+22.5%	+136.8%	+137.7%	+18.6%	-19.7%	+0.0%	-22.5%	+10.7%	-1.2%
FY 2018	+14.3%	+15.6%	+13.0%	+20.8%	-35.0%	-34.7%	+2.8%	-43.1%	+0.6%	+22.1%	+3.4%	-8.4%
FY 2017	+5.9%	+6.7%	+8.8%	+11.3%	+24.1%	+55.2%	+25.6%	+2.6%	+17.4%	-3.1%	+29.4%	+76.1%
FY 2016	-2.6%	-3.6%	-0.5%	+43.6%	+68.4%	+42.3%	+5.3%	-40.4%	+17.3%	-22.4%	+10.9%	+53.7%
FY 2015	+7.8%	+1.3%	+5.8%	-34.6%	-44.8%	-44.0%	-12.2%	-8.4%	+12.6%	+9.1%	+1.2%	+55.8%

Revenue Mix

Period	Total	Server Products And Cloud Services	Office Products And Cloud Services	Windows	Microsoft Three Six Five Commercial Products And Cloud Services	Gaming	Linked In Corporation	Search Advertising	Enterprise Services	Devices	Commercial Licensing	More Personal Computing	Productivity And Business Processes	Intelligent Cloud	Dynamics Products And Cloud Services	Other Products And Services	XBOX	Microsoft Three Six Five Consumer Products and Cloud Services	Devices and Consumer Licensing	Commercial Other	Computing and Gaming Hardware	Devices and Consumer Other	Phone Hardware	Dynamics	Corporate and Other
FY 2026	$331.84B	$129.43B	--	$17.08B	$102.00B	--	$19.82B	$15.18B	$8.26B	--	--	--	--	--	$9.01B	$109.0M	$21.79B	$9.18B	--	--	--	--	--	--	--
FY 2025	$281.72B	$98.44B	--	$17.31B	$87.77B	$23.45B	$17.81B	$13.88B	$7.76B	--	--	--	--	--	$7.83B	$72.0M	--	$7.40B	--	--	--	--	--	--	--
FY 2024	$245.12B	$97.73B	$54.88B	$23.24B	--	$21.50B	$16.37B	$12.58B	$7.59B	$4.71B	--	--	--	--	$6.48B	$45.0M	--	--	--	--	--	--	--	--	--
FY 2023	$211.91B	$79.97B	$48.73B	$21.51B	--	$15.47B	$15.14B	$12.21B	$7.72B	$5.52B	--	--	--	--	--	$211.0M	--	--	--	--	--	--	--	$5.44B	--
FY 2022	$198.27B	$67.32B	$44.86B	$24.76B	--	$16.23B	$13.82B	$11.59B	$7.41B	$6.99B	--	--	--	--	--	$5.29B	--	--	--	--	--	--	--	--	--
FY 2021	$168.09B	$52.59B	$39.87B	$23.23B	--	$15.37B	$10.29B	$8.53B	$6.94B	$6.79B	--	--	--	--	--	$4.48B	--	--	--	--	--	--	--	--	--
FY 2020	$143.01B	$41.38B	$35.32B	$22.29B	--	$11.57B	$8.08B	$7.74B	$6.41B	$6.46B	--	--	--	--	--	$3.77B	--	--	--	--	--	--	--	--	--
FY 2019	$125.84B	$32.62B	$31.77B	$20.39B	--	$11.39B	$6.75B	$7.63B	$6.12B	$6.09B	--	--	--	--	--	$3.07B	--	--	--	--	--	--	--	--	--
FY 2018	$110.36B	$26.13B	$28.32B	$19.52B	--	$10.35B	$5.26B	$7.01B	$5.85B	$5.13B	--	--	--	--	--	$2.79B	--	--	--	--	--	--	--	--	--
FY 2017	$96.57B	$21.65B	$25.57B	$18.59B	--	$9.05B	$2.27B	$6.22B	$5.54B	$5.06B	--	--	--	--	--	$2.61B	--	--	--	--	--	--	--	--	--
FY 2016	$91.15B	--	--	--	--	--	--	--	--	--	--	$40.41B	$25.79B	$24.95B	--	--	--	--	--	--	--	--	--	--	--
FY 2015	$93.58B	--	--	--	--	--	--	--	--	--	$41.04B	--	--	--	--	--	--	--	$14.97B	$10.84B	$10.18B	$8.82B	$7.52B	--	$204.0M

Period	Total	Server Products And Cloud Services	Office Products And Cloud Services	Windows	Microsoft Three Six Five Commercial Products And Cloud Services	Gaming	Linked In Corporation	Search Advertising	Enterprise Services	Devices	Commercial Licensing	More Personal Computing	Productivity And Business Processes	Intelligent Cloud	Dynamics Products And Cloud Services	Other Products And Services	XBOX	Microsoft Three Six Five Consumer Products and Cloud Services	Devices and Consumer Licensing	Commercial Other	Computing and Gaming Hardware	Devices and Consumer Other	Phone Hardware	Dynamics	Corporate and Other
FY 2026	$331.84B	$129.43B	--	$17.08B	$102.00B	--	$19.82B	$15.18B	$8.26B	--	--	--	--	--	$9.01B	$109.0M	$21.79B	$9.18B	--	--	--	--	--	--	--
FY 2025	$281.72B	$98.44B	--	$17.31B	$87.77B	$23.45B	$17.81B	$13.88B	$7.76B	--	--	--	--	--	$7.83B	$72.0M	--	$7.40B	--	--	--	--	--	--	--
FY 2024	$245.12B	$97.73B	$54.88B	$23.24B	--	$21.50B	$16.37B	$12.58B	$7.59B	$4.71B	--	--	--	--	$6.48B	$45.0M	--	--	--	--	--	--	--	--	--
FY 2023	$211.91B	$79.97B	$48.73B	$21.51B	--	$15.47B	$15.14B	$12.21B	$7.72B	$5.52B	--	--	--	--	--	$211.0M	--	--	--	--	--	--	--	$5.44B	--
FY 2022	$198.27B	$67.32B	$44.86B	$24.76B	--	$16.23B	$13.82B	$11.59B	$7.41B	$6.99B	--	--	--	--	--	$5.29B	--	--	--	--	--	--	--	--	--
FY 2021	$168.09B	$52.59B	$39.87B	$23.23B	--	$15.37B	$10.29B	$8.53B	$6.94B	$6.79B	--	--	--	--	--	$4.48B	--	--	--	--	--	--	--	--	--
FY 2020	$143.01B	$41.38B	$35.32B	$22.29B	--	$11.57B	$8.08B	$7.74B	$6.41B	$6.46B	--	--	--	--	--	$3.77B	--	--	--	--	--	--	--	--	--
FY 2019	$125.84B	$32.62B	$31.77B	$20.39B	--	$11.39B	$6.75B	$7.63B	$6.12B	$6.09B	--	--	--	--	--	$3.07B	--	--	--	--	--	--	--	--	--
FY 2018	$110.36B	$26.13B	$28.32B	$19.52B	--	$10.35B	$5.26B	$7.01B	$5.85B	$5.13B	--	--	--	--	--	$2.79B	--	--	--	--	--	--	--	--	--
FY 2017	$96.57B	$21.65B	$25.57B	$18.59B	--	$9.05B	$2.27B	$6.22B	$5.54B	$5.06B	--	--	--	--	--	$2.61B	--	--	--	--	--	--	--	--	--
FY 2016	$91.15B	--	--	--	--	--	--	--	--	--	--	$40.41B	$25.79B	$24.95B	--	--	--	--	--	--	--	--	--	--	--
FY 2015	$93.58B	--	--	--	--	--	--	--	--	--	$41.04B	--	--	--	--	--	--	--	$14.97B	$10.84B	$10.18B	$8.82B	$7.52B	--	$204.0M