MICROSOFT CORP (MSFT) - Stock Research

Revenue by Segment

Segment	2021	2022	2023	2024	2025	% of Total
Service and Other	$97.01B	$125.54B	$147.22B	$180.35B	$217.78B	39%
Server Products and Cloud Services	$52.59B	$67.35B	$79.97B	$97.73B	$98.44B	17%
Microsoft 365 Commercial Products and Cloud Services	—	—	$66.95B	$76.97B	$87.77B	16%
Product	$71.07B	$72.73B	$64.70B	$64.77B	$63.95B	11%
Gaming	$15.37B	$16.23B	$15.47B	$21.50B	$23.45B	4%

	1-Yr	4-Yr
Sales	15.0%	14.3%
Cash Flow	14.9%	16.0%
Earnings	15.6%	14.1%
Dividends	10.7%	10.4%
Book Value	28.0%	25.3%

	1-Yr	4-Yr
ROIC	39.5%	47.9%
Gross Margin	68.8%	69.0%
FCF Yield	1.9%	2.5%
Buyback Yield	0.5%	0.9%

	Q1	Q2	Q3	Q4
2022	2.71	2.48	2.22	2.24
2023	2.35	2.19	2.45	2.69
2024	2.99	2.93	2.93	2.95
2025	3.30	3.23	3.46	3.65
2026	3.72	5.15	—	—

Click year for reports

Financial data for MSFT from SEC EDGAR
Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023
Earnings Power
Revenue	86.8B	93.6B	85.3B	96.6B	110.4B	125.8B	143.0B	168.1B	198.3B	211.9B	245.1B	281.7B	305.5B
Net Income	22.1B	12.2B	16.8B	25.5B	16.6B	39.2B	44.3B	61.3B	72.7B	72.4B	88.1B	101.8B	119.3B
Owner Earnings	24.6B	21.1B	24.0B	27.5B	29.7B	35.9B	42.6B	58.9B	67.1B	64.1B	85.5B	90.0B	114.4B
Non-Recurring	N/A	N/A	N/A	N/A	0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0
Gross Margin	68.8%	64.7%	61.6%	64.5%	65.2%	65.9%	67.8%	68.9%	68.4%	68.9%	69.8%	68.8%	68.6%
Op. Margin	32.0%	19.4%	23.7%	30.1%	31.8%	34.1%	37.0%	41.6%	42.1%	41.8%	44.6%	45.6%	46.7%
Net Margin	25.4%	13.0%	19.7%	26.4%	15.0%	31.2%	31.0%	36.5%	36.7%	34.1%	36.0%	36.1%	39.0%
Returns on Capital
ROE	24.6%	15.2%	23.3%	29.1%	20.0%	38.3%	37.4%	43.2%	43.7%	35.1%	32.8%	33.3%	30.5%
ROA	12.8%	7.0%	8.7%	10.2%	6.4%	13.7%	14.7%	18.4%	19.9%	17.6%	17.2%	18.0%	17.9%
ROIC	82.4%	63.5%	140.5%	60.5%	63.2%	94.8%	98.0%	86.3%	64.9%	50.4%	36.6%	39.5%	34.0%
Cash Flow
Free Cash Flow	26.7B	23.7B	25.0B	31.4B	32.3B	38.3B	45.2B	56.1B	65.1B	59.5B	74.1B	71.6B	77.4B
CapEx	5.5B	5.9B	8.3B	8.1B	11.6B	13.9B	15.4B	20.6B	23.9B	28.1B	44.5B	64.6B	83.1B
Maint. CapEx	5.2B	6.0B	6.6B	8.8B	10.3B	11.7B	12.8B	11.7B	14.5B	13.9B	22.3B	34.2B	34.2B
Growth CapEx	273M	0	1.7B	0	1.4B	2.2B	2.6B	8.9B	9.4B	14.2B	22.2B	30.4B	48.9B
CapEx/OCF	17.0%	20.0%	25.0%	20.6%	26.5%	26.7%	25.4%	26.9%	26.8%	32.1%	37.5%	47.4%	51.8%
D&A	5.2B	6.0B	6.6B	8.8B	10.3B	11.7B	12.8B	11.7B	14.5B	13.9B	22.3B	34.2B	34.2B
Capital Allocation
Op. Cash Flow	32.2B	29.7B	33.3B	39.5B	43.9B	52.2B	60.7B	76.7B	89.0B	87.6B	118.5B	136.2B	160.5B
Dividends Paid	8.9B	9.9B	11.0B	11.8B	12.7B	13.8B	15.1B	16.5B	18.1B	19.8B	21.8B	24.1B	25.3B
Share Buybacks	7.3B	14.4B	16.0B	11.8B	10.7B	19.5B	23.0B	27.4B	32.7B	22.2B	17.3B	18.4B	18.4B
Buyback Yield	2.5%	4.5%	4.5%	2.4%	1.5%	2.0%	1.6%	1.4%	1.7%	0.9%	0.5%	0.5%	0.6%
Debt Repayment	3.9B	1.5B	2.8B	7.9B	10.1B	4.0B	5.5B	3.8B	9.0B	2.8B	29.1B	3.2B	3.2B
Stock-Based Comp	2.4B	2.6B	2.7B	3.3B	3.9B	4.7B	5.3B	6.1B	7.5B	9.6B	10.7B	12.0B	12.0B
Balance Sheet
Total Assets	172.4B	174.5B	193.5B	250.3B	258.8B	286.6B	301.3B	333.8B	364.8B	412.0B	512.2B	619.0B	665.3B
Intangibles	20.1B	16.9B	17.9B	35.1B	35.7B	42.0B	43.4B	49.7B	67.5B	67.9B	119.2B	119.5B	119.5B
Total Liabilities	82.6B	94.4B	121.5B	162.6B	176.1B	184.2B	183.0B	191.8B	198.3B	205.8B	243.7B	275.5B	274.4B
Equity	89.8B	80.1B	72.0B	87.7B	82.7B	102.3B	118.3B	142.0B	166.5B	206.2B	268.5B	343.5B	390.9B
Net Debt	-63.1B	-61.2B	-59.8B	-46.8B	-57.5B	-61.6B	-73.2B	-72.2B	-55.0B	-64.0B	-23.9B	-51.4B	-49.2B
Long-Term Debt	20.6B	27.8B	40.6B	76.1B	72.2B	66.7B	59.6B	50.1B	47.0B	42.0B	42.7B	40.2B	N/A
Debt/Equity	0.25	0.44	0.74	0.98	0.92	0.71	0.54	0.41	0.30	0.23	0.19	0.13	0.10
Interest Coverage	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Working Capital	68.6B	73.2B	80.3B	107.0B	111.2B	106.1B	109.6B	95.7B	74.6B	80.1B	34.4B	49.9B	49.9B
Current Assets	114.2B	122.8B	139.7B	162.7B	169.7B	175.6B	181.9B	184.4B	169.7B	184.3B	159.7B	191.1B	191.1B
Current Liabilities	45.6B	49.6B	59.4B	55.7B	58.5B	69.4B	72.3B	88.7B	95.1B	104.1B	125.3B	141.2B	141.2B
Retained Earnings	17.7B	9.1B	2.3B	17.8B	13.7B	24.1B	34.6B	57.1B	84.3B	118.8B	173.1B	237.7B	237.7B
Per Share Data
Avg. Price	30.51	38.52	44.15	55.88	78.76	105.57	149.15	217.90	287.37	261.06	372.33	420.67	430.29
EPS	2.63	1.48	2.10	3.25	2.13	5.06	5.76	8.05	9.65	9.68	11.80	13.64	15.98
Owner EPS	2.93	2.57	3.00	3.50	3.82	4.62	5.54	7.74	8.90	8.58	11.45	12.06	15.40
Book Value	10.70	9.72	9.00	11.18	10.63	13.20	15.39	18.65	22.09	27.59	35.94	46.01	52.64
Cash Flow/Share	3.84	3.60	4.17	5.04	5.64	6.73	7.89	10.08	11.81	11.72	15.87	18.24	20.66
Dividends/Share	1.12	1.24	1.44	1.56	1.63	1.78	1.97	2.17	2.41	2.65	2.91	3.23	3.40
Shares Out.	8.4B	8.2B	8.0B	7.8B	7.8B	7.8B	7.7B	7.6B	7.5B	7.5B	7.5B	7.5B	7.4B
Valuation
P/E Ratio	13.5	26.4	20.9	19.6	43.0	25.0	32.5	32.2	25.8	34.0	37.5	36.2	26.9
Price/Book	3.3	4.0	4.9	5.7	8.6	9.6	12.2	13.9	11.3	11.9	12.3	10.7	8.2
Price/Sales	2.9	3.4	4.1	4.5	5.6	6.5	8.0	9.9	10.9	9.2	11.3	11.1	10.5
EV/EBIT	8.5	14.4	14.4	15.6	18.7	21.4	25.8	27.2	21.9	27.1	29.9	28.3	22.1
FCF Yield	9.0%	7.4%	7.1%	6.3%	4.5%	3.9%	3.1%	2.8%	3.5%	2.4%	2.2%	1.9%	2.4%
Market Cap	298.5B	322.2B	351.2B	498.3B	712.1B	979.8B	1.4T	2.0T	1.9T	2.5T	3.3T	3.7T	3.2T
Year-End Price	35.57	39.11	43.91	63.54	91.53	126.34	187.44	259.04	249.26	329.55	441.99	494.20	430.29

MICROSOFT CORP

Business Description

Revenue by Segment

Quality Checklist