Overview
MICROSOFT CORP
Latest 10-K: FY2026, filed Jul 29, 2026 · Open the 10-K (Inline XBRL) ↗
- Revenue
- $331.84B
- 17.8%YoYup from FY2025
- TotalRevenue
- Gross profit
- $225.47B
- 16.3%YoYup from FY2025
- GrossProfit
- Operating income
- $155.24B
- 20.8%YoYup from FY2025
- OperatingIncome
- Net income
- $133.75B
- 31.3%YoYup from FY2025
- NetIncome
- Diluted EPS
- $17.95
- 31.6%YoYup from FY2025
- EPSDiluted
- Diluted shares
- 7.45B
- 0.2%YoYdown from FY2025
- WeightedAvgSharesDiluted
At a glance
Growth
- MICROSOFT CORP reported revenue of $331.84B for fiscal 2026, up 17.8% from fiscal 2025.
- Revenue grew faster than the median S&P 500 member in 4 of the last 4 fiscal years.
Profitability
- Operating margin was 46.8% and net margin was 40.3%.
Per share
- Diluted EPS was $17.95, up 31.6% from the prior year.
Written from the filed figures on this page by fixed rules — no AI.
Data as of Oct 31, 2026 · Sources: SEC EDGAR 10-K
Financial statements
Annual figures from the 10-K, most recent fiscal year first.
Income Statement
5 annual periodsChip: YoY change.
| Line item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Revenue | $331.84B17.8%up | $281.72B14.9%up Benchmark median 6.4% | $245.12B15.7%up Benchmark median 4.5% | $211.91B6.9%up Benchmark median 4.8% | $198.27B18.0%up Benchmark median 10.3% | 13.7% |
| Gross Profit Median of 315 / 498 | $225.47B16.3%up | $193.89B13.4%up Benchmark median 6.8% | $171.01B17.1%up Benchmark median 5.5% | $146.05B7.7%up Benchmark median 5.2% | $135.62B17.1%up Benchmark median 8.3% | 13.6% |
| Operating Income Median of 373 / 498 | $155.24B20.8%up | $128.53B17.4%up Benchmark median 7.3% | $109.43B23.6%up Benchmark median 7.4% | $88.52B6.2%up Benchmark median 4.9% | $83.38B19.3%up Benchmark median 7.5% | 16.8% |
| Net Income | $133.75B31.3%up | $101.83B15.5%up Benchmark median 4.8% | $88.14B21.8%up Benchmark median 5.7% | $72.36B0.5%down Benchmark median 1.9% | $72.74B18.7%up Benchmark median 1.3% | 16.4% |
| EPS (Diluted) | $17.9531.6%up | $13.6415.6%up Benchmark median 6.2% | $11.8021.9%up Benchmark median 7.9% | $9.680.3%up Benchmark median 1.9% | $9.6519.9%up Benchmark median 1.5% | 16.8% |
Balance Sheet
5 annual periodsChip: YoY change.
| Line item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Total Assets | $758.38B22.5%up | $619.00B20.9%up Benchmark median 5.6% | $512.16B24.3%up Benchmark median 3.4% | $411.98B12.9%up Benchmark median 4.1% | $364.84B9.3%up Benchmark median 2.2% | 20.1% |
| Total Liabilities Median of 357 / 498 | $315.99B14.7%up | $275.52B13.1%up Benchmark median 6.4% | $243.69B18.4%up Benchmark median 1.9% | $205.75B3.8%up Benchmark median 2.9% | $198.30B3.4%up Benchmark median 2.0% | 12.4% |
| Stockholders' Equity | $442.39B28.8%up | $343.48B27.9%up Benchmark median 6.8% | $268.48B30.2%up Benchmark median 5.4% | $206.22B23.8%up Benchmark median 7.3% | $166.54B17.3%up Benchmark median 2.5% | 27.7% |
| Cash & Equivalents | $20.93B30.8%down | $30.24B65.1%up Benchmark median 5.2% | $18.32B47.2%down Benchmark median 1.9% | $34.70B149.1%up Benchmark median 6.7% | $13.93B2.1%down Benchmark median -8.6% | 10.7% |
| Total Debt | $40.29B6.6%down | $43.15B16.4%down Benchmark median 2.1% | $51.63B9.3%up Benchmark median 0.2% | $47.24B5.1%down Benchmark median 0.3% | $49.78B14.4%down Benchmark median 0.1% | -5.1% |
Cash Flow Statement
5 annual periodsChip: YoY change.
| Line item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $182.94B34.4%up | $136.16B14.9%up Benchmark median 6.3% | $118.55B35.4%up Benchmark median 4.8% | $87.58B1.6%down Benchmark median 9.9% | $89.03B16.0%up Benchmark median -0.7% | 19.7% |
| Capital Expenditures | $115.95B79.6%up | $64.55B45.1%up Benchmark median 5.4% | $44.48B58.2%up Benchmark median 2.8% | $28.11B17.7%up Benchmark median 11.3% | $23.89B15.8%up Benchmark median 14.0% | 48.4% |
| Free Cash Flow Median of 378 / 498 | $66.99B6.5%down | $71.61B3.3%down Benchmark median 7.3% | $74.07B24.5%up Benchmark median 6.1% | $59.48B8.7%down Benchmark median 8.8% | $65.15B16.1%up Benchmark median -11.3% | 0.7% |
n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.
Benchmark median = median of the companies in the benchmark universe on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-27. This compares reported figures, not share-price returns. Methodology
Ratios & valuation
FY2026Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.
Valuation · Earnings yield
What a dollar of market value earned
4.8%
Wall Street
on net earnings
FY2025 2.7%
2.4%
Value investor
on free cash flow
FY2025 1.9%
Gap −2.4 pts: Value-investor figure 2.4 points lower
How it’s calculated
Wall Street · on net earnings
Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)
pe_ratio (ratio table)
P/E 20.8×Value investor · on free cash flow
(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)
free cash flow ÷ market cap
Valuation · Enterprise yield
What a dollar of enterprise value earned
6.9%
Wall Street
on EBITDA
FY2025 4.1%
5.7%
Value investor
on EBIT
FY2025 3.5%
Gap −1.2 pts: Value-investor figure 1.2 points lower
How it’s calculated
Wall Street · on EBITDA
EBITDA ÷ enterprise value (1 ÷ EV/EBITDA)
ev_ebitda (ratio table)
EV/EBITDA 14.5×Value investor · on EBIT
Operating income (EBIT) ÷ enterprise value: depreciation counts as a real cost
operating income ÷ (ev_ebitda × ebitda)
Valuation · Book yield
Net assets behind a dollar of market value
15.9%
Wall Street
on book equity
FY2025 9.2%
11.6%
Value investor
on tangible book
FY2025 6.0%
Gap −4.3 pts: Value-investor figure 4.3 points lower
How it’s calculated
Wall Street · on book equity
Book value of equity ÷ market capitalisation (1 ÷ P/B)
pb_ratio (ratio table)
P/B 6.3×Value investor · on tangible book
Tangible book value (equity less goodwill and intangibles) ÷ market capitalisation
tangible_book_value_per_share ÷ (pb_ratio × book_value_per_share)
Quality · Return on capital
Profit earned on the money in the business
34.0%
Wall Street
ROE: net income ÷ equity
FY2025 33.3%
24.1%
Value investor
ROIC: after-tax operating profit ÷ invested capital
FY2025 27.3%
Gap −9.9 pts: Value-investor figure 9.9 points lower
How it’s calculated
Wall Street · ROE: net income ÷ equity
Net income ÷ average stockholders' equity (start and end of year), including noncontrolling interests. Buybacks shrink equity and lift it.
return_on_equity (ratio table)
Value investor · ROIC: after-tax operating profit ÷ invested capital
Operating profit after tax ÷ invested capital (total assets − cash − non-interest-bearing current liabilities), so leverage cannot flatter it
roic (ratio table)
Quality · Cash margin
Cash profit kept from each dollar of sales
57.1%
Wall Street
EBITDA margin
FY2025 53.4%
20.2%
Value investor
Free-cash-flow margin
FY2025 25.4%
Gap −36.9 pts: Value-investor figure 36.9 points lower
How it’s calculated
Wall Street · EBITDA margin
EBITDA ÷ revenue
ebitda ÷ revenue
Value investor · Free-cash-flow margin
(Operating cash flow − capital expenditures) ÷ revenue: taxes, interest, working capital and capex all paid
free cash flow ÷ revenue
Balance sheet · Liquidity
Short-term assets per dollar of bills due within a year
1.23×
Wall Street
Current ratio
FY2025 1.35×
1.22×
Value investor
Quick ratio, inventory excluded
FY2025 1.35×
Gap −0.01×: Value-investor figure 0.01 lower
How it’s calculated
Wall Street · Current ratio
Current assets ÷ current liabilities
current_ratio (ratio table)
Value investor · Quick ratio, inventory excluded
(Current assets − inventory) ÷ current liabilities
quick_ratio (ratio table)
Balance sheet · Debt cover
How many times one year of earnings repays all debt
4.70×
Wall Street
EBITDA ÷ total debt
FY2025 3.49×
1.66×
Value investor
FCF ÷ total debt
FY2025 1.66×
Gap −3.04×: Value-investor figure 3.04 lower
How it’s calculated
Wall Street · EBITDA ÷ total debt
EBITDA ÷ total debt (short-term + long-term)
ebitda ÷ total debt
Net cashValue investor · FCF ÷ total debt
Free cash flow ÷ total debt: what is actually left to repay it
free cash flow ÷ total debt
Balance sheet · Interest cover
How many times earnings pay the year's interest
62.1×
Wall Street
EBITDA ÷ interest
FY2025 63.1×
50.9×
Value investor
EBIT ÷ interest
FY2025 53.9×
Gap −11.2×: Value-investor figure 11.2 lower
How it’s calculated
Wall Street · EBITDA ÷ interest
EBITDA ÷ interest expense
ebitda_interest_coverage (ratio table)
Value investor · EBIT ÷ interest
Operating income ÷ interest expense
interest_coverage (ratio table)
Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.
Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.
Smart money
Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.
Peers, filings & research
Research Reports
No published research on MSFT yet.
Reports appear here as analysts publish research on this company — built with Valuein's agentic workflows on data pinned to its SEC filing. Be the first: run equity_research_brief on MSFT and publish the result to your public profile.
Cite this page
Data as of Oct 31, 2026. Canonical address: https://valuein.biz/data/MSFT
Valuein. (2026, October 31). MICROSOFT CORP (MSFT) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/MSFT
@misc{valuein_msft_2026,
author = {{Valuein}},
title = {MICROSOFT CORP (MSFT) financial statements, earnings power and smart-money summary},
year = {2026},
howpublished = {\url{https://valuein.biz/data/MSFT}},
note = {Data as of 2026-10-31; source: SEC EDGAR filings}
}10-K filed Jul 29, 2026 · accession 0001193125-26-323660
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point-in-time · survivorship-free · every number traceable to its SEC filing
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