MSFT

MKT CAP:$3.1T

Microsoft Corporation

Market Cap

$3.1T

Technology·Software - Infrastructure·🇺🇸 United States·NASDAQ

Technology·Software Infra·🇺🇸·NASDAQ

Stock Price

$418.44-$54.50 (-11.52%)

Apr 24, 2026

Company Details

Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. The company operates in three segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. The Pr...

CEO

Satya Nadella

IPO Date

Mar 13, 1986

Website

www.microsoft.com

Key Metrics TTM

Revenue

$305.5B

+16.7% YoY

Net Income

$119.3B

EPS (Diluted)

$15.99

Free Cash Flow

$77.4B

Revenue / Share

$40.95

Gross Margin

68.6%

Operating Margin

46.7%

Net Margin

39.0%

FCF Margin

25.3%

P/S

10.3x

P/E

26.4x

Earnings Reports

Q3 2026

Apr 29, 2026

PENDING

Q2 2026

Jan 28, 2026

$81.3B+16.7%EPS $5.16

Q1 2026

Oct 29, 2025

$77.7B+18.4%EPS $3.72

FY 2025

Jul 30, 2025

$281.7B+14.9%EPS $13.64

Q4 2025

Jul 30, 2025

$76.4B+18.1%EPS $3.65

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 22	$49.4B	$33.7B	$20.4B
Q4 22	$51.9B	$35.4B	$20.5B
Q1 23	$50.1B	$34.7B	$21.5B
Q2 23	$52.7B	$35.3B	$20.4B
Q3 23	$52.9B	$36.7B	$22.4B
Q4 23	$56.2B	$39.4B	$24.3B
Q1 24	$56.5B	$40.2B	$26.9B
Q2 24	$62.0B	$42.4B	$27.0B
Q3 24	$61.9B	$43.4B	$27.6B
Q4 24	$64.7B	$45.0B	$27.9B
Q1 25	$65.6B	$45.5B	$30.6B
Q2 25	$69.6B	$47.8B	$31.7B
Q3 25	$70.1B	$48.1B	$32.0B
Q4 25	$76.4B	$52.4B	$34.3B
Q1 26	$77.7B	$53.6B	$38.0B
Q2 26	$81.3B	$55.3B	$38.3B

Valuation

Quarter	P/S	P/E
Q3 22	12.1x	32.1x
Q4 22	10.0x	27.2x
Q1 23	8.8x	25.7x
Q2 23	8.3x	25.1x
Q3 23	10.3x	30.9x
Q4 23	11.8x	34.7x
Q1 24	11.0x	31.0x
Q2 24	12.2x	33.7x
Q3 24	13.3x	36.6x
Q4 24	13.8x	38.5x
Q1 25	12.6x	35.3x
Q2 25	12.1x	34.1x
Q3 25	10.3x	28.9x
Q4 25	13.1x	36.3x
Q1 26	13.0x	36.5x
Q2 26	11.9x	30.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 22	$25.4B	$20.0B
Q4 22	$24.6B	$17.8B
Q1 23	$23.2B	$16.9B
Q2 23	$11.2B	$4.9B
Q3 23	$24.4B	$17.8B
Q4 23	$28.8B	$19.8B
Q1 24	$30.6B	$20.7B
Q2 24	$18.9B	$9.1B
Q3 24	$31.9B	$21.0B
Q4 24	$37.2B	$23.3B
Q1 25	$34.2B	$19.3B
Q2 25	$22.3B	$6.5B
Q3 25	$37.0B	$20.3B
Q4 25	$42.6B	$25.6B
Q1 26	$45.1B	$25.7B
Q2 26	$35.8B	$5.9B

Capital Expenditures

Quarter	CapEx
Q3 22	$5.3B
Q4 22	$6.9B
Q1 23	$6.3B
Q2 23	$6.3B
Q3 23	$6.6B
Q4 23	$8.9B
Q1 24	$9.9B
Q2 24	$9.7B
Q3 24	$11.0B
Q4 24	$13.9B
Q1 25	$14.9B
Q2 25	$15.8B
Q3 25	$16.7B
Q4 25	$17.1B
Q1 26	$19.4B
Q2 26	$29.9B

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 22	+18.4%	+17.6%
Q4 22	+12.4%	+15.8%
Q1 23	+10.6%	+14.1%
Q2 23	+2.0%	+9.7%
Q3 23	+7.1%	+5.2%
Q4 23	+8.3%	+1.9%
Q1 24	+12.8%	+3.6%
Q2 24	+17.6%	+8.2%
Q3 24	+17.0%	+12.4%
Q4 24	+15.2%	+15.2%
Q1 25	+16.0%	+18.3%
Q2 25	+12.3%	+8.5%
Q3 25	+13.3%	+11.1%
Q4 25	+18.1%	+14.4%
Q1 26	+18.4%	+13.4%
Q2 26	+16.7%	+13.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 22	$1.9B	3.9%
Q4 22	$2.0B	3.9%
Q1 23	$2.2B	4.4%
Q2 23	$2.5B	4.8%
Q3 23	$2.5B	4.7%
Q4 23	$2.4B	4.3%
Q1 24	$2.5B	4.4%
Q2 24	$2.8B	4.6%
Q3 24	$2.7B	4.4%
Q4 24	$2.7B	4.2%
Q1 25	$2.8B	4.3%
Q2 25	$3.1B	4.4%
Q3 25	$3.0B	4.3%
Q4 25	$3.1B	4.0%
Q1 26	$3.0B	3.8%
Q2 26	$3.2B	4.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q3 22	$6.3B	$1.5B	$5.6B
Q4 22	$6.8B	$1.7B	$6.3B
Q1 23	$6.6B	$1.4B	$5.1B
Q2 23	$6.8B	$2.3B	$5.7B
Q3 23	$7.0B	$1.6B	$5.8B
Q4 23	$6.7B	$2.2B	$6.2B
Q1 24	$6.7B	$1.5B	$5.2B
Q2 24	$7.1B	$2.0B	$6.2B
Q3 24	$7.7B	$1.9B	$6.2B
Q4 24	$8.1B	$2.2B	$6.8B
Q1 25	$7.5B	$1.7B	$5.7B
Q2 25	$7.9B	$1.8B	$6.4B
Q3 25	$8.2B	$1.7B	$6.2B
Q4 25	$8.8B	$2.0B	$7.3B
Q1 26	$8.1B	$1.8B	$5.7B
Q2 26	$8.5B	$1.9B	$6.6B

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q3 22	18.4%	49.6%	67.9
Q4 22	12.4%	48.1%	60.5
Q1 23	10.6%	49.6%	60.2
Q2 23	2.0%	46.4%	48.4
Q3 23	7.1%	50.5%	57.6
Q4 23	8.3%	51.8%	60.1
Q1 24	12.8%	56.1%	68.9
Q2 24	17.6%	53.8%	71.4
Q3 24	17.0%	54.2%	71.3
Q4 24	15.2%	53.0%	68.2
Q1 25	16.0%	58.3%	74.3
Q2 25	12.3%	52.8%	65.1
Q3 25	13.3%	58.1%	71.4
Q4 25	18.1%	58.1%	76.2
Q1 26	18.4%	61.9%	80.3
Q2 26	16.7%	71.6%	88.3

Rule of 40

Revenue Segments

Quarter	Devices	Enterprise Services	Gaming	Linked In Corporation	Office Products And Cloud Services	Other Products And Services	Search Advertising	Server Products And Cloud Services	Windows	Dynamics	Dynamics Products And Cloud Services	Microsoft Three Six Five Commercial Products And Cloud Services	Microsoft Three Six Five Consumer Products and Cloud Services
Q3 22	$1.8B	$1.9B	$3.7B	$3.4B	$11.2B	$1.3B	$2.9B	$17.0B	$6.1B	—	—	—	—
Q4 22	$1.6B	$1.9B	$3.5B	$3.7B	$11.6B	$1.4B	$2.9B	$18.8B	$6.4B	—	—	—	—
Q1 23	$1.4B	$1.9B	$3.6B	$3.7B	$11.5B	$1.3B	$2.9B	$18.4B	$5.3B	—	—	—	—
Q2 23	$1.4B	$1.9B	$4.8B	$3.9B	$11.8B	$1.4B	$3.2B	$19.6B	$4.8B	—	—	—	—
Q3 23	$1.3B	$2.0B	$3.6B	$3.7B	$12.4B	$1.4B	$3.0B	$20.0B	$5.3B	—	—	—	—
Q4 23	$1.4B	$2.0B	$3.5B	$3.9B	$12.9B	-$3.9B	$3.0B	$22.0B	$6.1B	$5.4B	—	—	—
Q1 24	$1.1B	$1.9B	$3.9B	$3.9B	$13.1B	$8M	$3.1B	$22.3B	$5.6B	$1.5B	—	—	—
Q2 24	$1.3B	$1.9B	$7.1B	$4.2B	$13.5B	$11M	$3.2B	$24.0B	$5.3B	—	$1.6B	—	—
Q3 24	$1.1B	$1.9B	$5.5B	$4.0B	$13.9B	$14M	$3.1B	$24.8B	$5.9B	—	$1.6B	—	—
Q4 24	$1.9B	$1.9B	$5.0B	$4.3B	$14.3B	$12M	$3.2B	$24.6B	$6.5B	—	$3.1B	—	—
Q1 25	—	$1.9B	$5.6B	$4.3B	—	$10M	$3.2B	$22.2B	$4.3B	—	$1.8B	$20.4B	$1.7B
Q2 25	—	$1.9B	$6.6B	$4.6B	—	$10M	$3.6B	$23.6B	$4.5B	—	$1.9B	$21.1B	$1.8B
Q3 25	—	$1.9B	$5.7B	$4.3B	—	$46M	$3.5B	$24.8B	$4.1B	—	$1.9B	$21.9B	$1.8B
Q4 25	—	$2.0B	$5.5B	$4.6B	—	$6M	$3.6B	$27.9B	$4.3B	—	$2.1B	$24.3B	$2.0B
Q1 26	—	$2.0B	$5.5B	$4.7B	—	$3M	$3.7B	$28.9B	$4.6B	—	$2.1B	$24.0B	$2.2B
Q2 26	—	$2.0B	$6.0B	$5.1B	—	$6M	$3.8B	$30.9B	$4.5B	—	$2.2B	$24.5B	$2.3B

Revenue by Geography

Quarter	Non Us	United States
Q3 22	$24.6B	$24.8B
Q4 22	$25.7B	$26.2B
Q1 23	$24.3B	$25.9B
Q2 23	$25.8B	$27.0B
Q3 23	$26.9B	$26.0B
Q4 23	$28.3B	$27.9B
Q1 24	$27.7B	$28.8B
Q2 24	$29.7B	$32.3B
Q3 24	$30.4B	$31.4B
Q4 24	$32.6B	$32.2B
Q1 25	$31.7B	$33.9B
Q2 25	$34.1B	$35.5B
Q3 25	$34.0B	$36.1B
Q4 25	$37.4B	$39.0B
Q1 26	$37.6B	$40.1B
Q2 26	$39.9B	$41.4B

War Chest

Quarter	Cash	Short-term Investments	Total
Q3 22	$12.5B	$92.2B	$104.7B
Q4 22	$13.9B	$90.8B	$104.7B
Q1 23	$22.9B	$84.4B	$107.2B
Q2 23	$15.6B	$83.8B	$99.5B
Q3 23	$26.6B	$77.9B	$104.4B
Q4 23	$34.7B	$76.6B	$111.3B
Q1 24	$80.5B	$63.5B	$143.9B
Q2 24	$17.3B	$63.7B	$81.0B
Q3 24	$19.6B	$60.4B	$80.0B
Q4 24	$18.3B	$57.2B	$75.5B
Q1 25	$20.8B	$57.6B	$78.4B
Q2 25	$17.5B	$54.1B	$71.6B
Q3 25	$28.8B	$50.8B	$79.6B
Q4 25	$30.2B	$64.3B	$94.6B
Q1 26	$28.8B	$73.2B	$102.0B
Q2 26	$24.3B	$65.2B	$89.5B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 22	7.53B	-0.3%	-0.8%
Q4 22	7.51B	-0.4%	-1.0%
Q1 23	7.49B	-0.3%	-1.1%
Q2 23	7.47B	-0.2%	-1.1%
Q3 23	7.46B	-0.1%	-0.9%
Q4 23	7.47B	+0.0%	-0.5%
Q1 24	7.46B	-0.1%	-0.3%
Q2 24	7.47B	+0.1%	-0.1%
Q3 24	7.47B	+0.1%	+0.1%
Q4 24	7.47B	0.0%	+0.1%
Q1 25	7.47B	-0.0%	+0.1%
Q2 25	7.47B	-0.0%	0.0%
Q3 25	7.46B	-0.1%	-0.1%
Q4 25	7.46B	0.0%	-0.1%
Q1 26	7.47B	+0.1%	-0.1%
Q2 26	7.46B	-0.1%	-0.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 22	$272.7K	181K
Q4 22	$234.7K	221K
Q1 23	$226.8K	221K
Q2 23	$238.7K	221K
Q3 23	$239.2K	221K
Q4 23	$254.2K	221K
Q1 24	$255.7K	221K
Q2 24	$280.6K	221K
Q3 24	$279.9K	221K
Q4 24	$283.9K	228K
Q1 25	$287.7K	228K
Q2 25	$305.4K	228K
Q3 25	$307.3K	228K
Q4 25	$335.3K	228K
Q1 26	$340.7K	228K
Q2 26	$356.5K	228K

Revenue / Employee