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MICROSOFT CORP (MSFT) USD

Software and cloud—Windows, Microsoft 365, Azure, LinkedIn, gaming (Xbox).

At a glance: strengths & risks
✓Revenue growing (+18%)✓Profit growing (+31%)✓Net cash balance sheet

Sector: Technology

US_MSFT

Price chart

531.33 USDDay -0.24%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
531.33 USD · -0.24%
Market cap
3960.0 bn USD

Growth

Δ revenue y/y
17.7%
Δ EBITDA y/y
32.7%

Multiples

P/E (LTM)
29.6x
3y avg: 33.5x
P/B (FY)
9.0x
P/E (ann.)
27.7x
EV/EBITDA (LTM)
20.8x
3y avg: 23.0x
EV/EBITDA (ann.)
17.6x

Cash return

Dividend yield
0.7%
FCF yield (LTM)
1.7%

Value creation

fundamental value/yr, % of market cap
Value created / year
+19.4%
↓ details

Liquidity

Daily turnover (US listing)
335.7 mln USD

Shares: yahoo_fundamentals_timeseries/MSFT

Financial results

Monetary columns are in B USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueB USDOperating profitB USDD&AB USDEBITDAB USDNet profitB USDOperating CFB USDCapex + M&AB USDAssetsB USDEquityB USDROE (annualized)Net debtB USDSource
2026-06-30Q2 2026 (3M)OK90.0
y/y 17.7%
40.6
y/y 18.3%
6.6
y/y -15.4%
47.2
y/y 12.1%
35.8
y/y 31.3%
55.4-34.5758.4
y/y 22.5%
442.4
y/y 28.8%
31.2%-20.0Link
2026-03-31Q1 2026 (3M)OK82.9
y/y 18.3%
38.4
y/y 20.0%
10.1
y/y 38.4%
48.5
y/y 23.4%
31.8
y/y 23.1%
46.7-31.1694.2
y/y 23.4%
414.4
y/y 28.7%
10.5%-21.3Link
2025-12-31Q4 2025 (3M)OK81.3
y/y 16.7%
38.3
y/y 20.9%
9.0
y/y 32.4%
47.3
y/y 22.9%
38.5
y/y 59.5%
35.8-30.3665.3
y/y 24.6%
390.9
y/y 29.1%
40.8%-31.9Link
2025-09-30Q3 2025 (3M)OK77.7
y/y 18.4%
38.0
y/y 24.3%
8.6
y/y 41.0%
46.6
y/y 27.0%
27.7
y/y 12.5%
45.1-20.0636.4
y/y 21.7%
363.1
y/y 26.2%
31.4%-41.5Link
2025-06-30Q2 2025 (3M)OK76.4
y/y 18.1%
34.3
y/y 22.9%
7.8
y/y -53.0%
42.1
y/y -5.4%
27.2
y/y 23.6%
42.6-18.8619.0
y/y 20.9%
343.5
y/y 27.9%
30.6%-34.0Link
2025-03-31Q1 2025 (3M)OK70.1
y/y 13.3%
32.0
y/y 16.0%
7.3
y/y 421.4%
39.3
y/y 35.6%
25.8
y/y 17.7%
37.0-17.7562.6
y/y 16.2%
321.9
y/y 27.2%
11.0%-19.1Link
2024-12-31Q4 2024 (3M)OK69.6
y/y 12.3%
31.7
y/y 17.1%
6.8
y/y 398.5%
38.5
y/y 35.4%
24.1
y/y 10.2%
22.3-17.2533.9
y/y 13.5%
302.7
y/y 27.0%
32.7%-9.3Link
2024-09-30Q3 2024 (3M)OK65.6
y/y 16.0%
30.6
y/y 13.6%
6.1
y/y 859.1%
36.7
y/y 33.1%
24.7
y/y 10.7%
34.2-16.8523.0
y/y 17.3%
287.7
y/y 30.4%
35.5%-16.9Link
2024-06-30Q2 2024 (3M)OK64.7
y/y —
27.9
y/y —
16.6
y/y —
44.5
y/y —
22.0
y/y —
37.2-15.2512.2
y/y 24.3%
268.5
y/y 30.2%
33.8%-8.4Link
2024-03-31Q1 2024 (3M)OK61.9
y/y 17.0%
27.6
y/y 23.4%
1.4
y/y 133.3%
29.0
y/y 26.3%
21.9
y/y 19.9%
31.9-12.5484.3
y/y 27.4%
253.2
y/y 30.0%
11.9%-0.1Link
2023-12-31Q4 2023 (3M)OK62.0
y/y —
27.0
y/y —
1.4
y/y —
28.4
y/y —
21.9
y/y —
18.9-74.8470.6
y/y —
238.3
y/y —
38.1%7.4Link
2023-09-30Q3 2023 (3M)OK56.5
y/y —
26.9
y/y —
0.6
y/y —
27.5
y/y —
22.3
y/y —
30.6-11.1445.8
y/y —
220.7
y/y —
41.8%-59.0Link
2023-06-30FY 2023 (12M)OK—
y/y —
—
y/y —
—
y/y —
—
y/y —
—
y/y —
——412.0
y/y —
206.2
y/y —
36.1%-51.3Link
2023-03-31Q1 2023 (3M)OK52.9
y/y —
22.4
y/y —
0.6
y/y —
23.0
y/y —
18.3
y/y —
24.4-6.9380.1
y/y —
194.7
y/y —
—-43.9Link

Net debt structure (leases included, IFRS 16) 2026-06-30

Short-term debt (incl. ST leases)9 227
Long-term debt (incl. LT leases)31 067
− Cash & equivalents76 843
Net debt-36 549

Net debt / LTM EBITDA: -0.2x

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

020 00040 00060 00080 000100 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Year-over-year change

-20%0%20%40%2024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Cash flow

Operating and investing cash flow (OCF + ICF) ($ mln)

05 00010 00015 00020 00025 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Net debt / cash ($ mln)

-50 000-40 000-30 000-20 000-10 00002024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q22026 q4

Profit and cash

Profit is cash-backed
In a typical year of 2022–2026 operating cash flow came to 1.34x of reported net profit; after capex, 0.82x.
year20222023202420252026
cash flow / profit1.22x1.21x1.34x1.34x1.37x
accruals, % of assets-4.5%-3.7%-5.9%-5.5%-6.5%
Last twelve months (to 2026-06-30): 1.37x of profit came back as operating cash flow.
net debt / EBITDA -0.1x · EBIT covers interest 50.9x · capex 2.5x of depreciation · dividends 25% of free cash flow
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Research & reviews

Our earnings breakdowns and investment notes on this issuer.

All research →

Fundamental value creation

Value the company creates per year, as a % of market cap

Value created per year: +19.3%

How this was calculated
1. EBITDA growth (latest quarter YoY, annualised)
[EBITDA latest qtr − EBITDA year-ago qtr] × annualisation X (2026-06-30 vs 2025-06-30)
= (55 908 − 42 123) × 3.55
48 880
2. Current EV/EBITDA (LTM)
(Market cap + Net debt) ÷ EBITDA (LTM)
= (3 960 002 + -20 017) ÷ 198 242
19.9x
3. Target multiple
(Current EV/EBITDA + 12) ÷ 2
= (19.9 + 12) ÷ 2
15.9x
4. Cash flow (balance method, LTM)
Net-debt reduction + dividends + buybacks − equity issuance
= -53 336 + 19 687 + 17 692 − 1 489
-15 957
5. Value created per year
(EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap
= (48 880 × 15.9 + -15 957) ÷ 3 960 002
+19.3%

Amounts in millions of the reporting currency. EBITDA growth is the latest quarter vs the same quarter a year ago, annualised.

Caveats:

  • equity issuance measured by share-count dilution at market, not the cash line

Revenue growth & acceleration

Growth steady →
Last-year revenue growth +18% vs +15% the year before — a +2.9 pp move. 3-year CAGR +16%.
revenue growth by year: 2024 +16% · 2025 +15% · 2026 +18%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — daily history

Current 20.1x · 3-year 75th pct 28.2x

EV/EBITDA3-year 75th pct

Peer comparison

Group: Technology. Every peer trades on the same market, so no adjustment is needed.

CompanyMarketCap, $bnEV/EBITDA
MICRON TECHNOLOGY INCUS1061.69.4x
ORACLE CORPUS394.715.5x
INTERNATIONAL BUSINESS MACHINES CORPUS237.418.7x
NVIDIA CORPUS5296.826.4x
TEXAS INSTRUMENTS INCUS282.026.9x
CISCO SYSTEMS, INC.US439.528.3x
LAM RESEARCH CORPUS301.429.4x
Apple Inc.US5127.830.0x
Broadcom Inc.US1661.330.4x
APPLIED MATERIALS INC /DEUS314.032.2x
ANALOG DEVICES INCUS208.333.0x
Arista Networks, Inc.US238.650.9x
Group median28.9x
Group average27.6x
This companyUS3960.020.8x

Group median 28.9x; this company 20.8x — a 28% discount.

Group average 27.6x; against the average this company is at a 25% discount.

At the adjusted group median the market cap would be +39% versus today.

The gap and the implied upside are measured against the median: one richly priced peer moves an average, not a median. The market adjustment uses our coverage medians (US 21.1x, Russia 3.7x, South Africa 5.3x, Kazakhstan 4.6x, India 17.2x, Indonesia 5.2x); it is about where a name is listed, not what it does. Peer multiples come from the nightly rebuild of 2026-10-28; the company's own is live.

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-08-200.91 USDEx-dividend: 0.91 USD per sharePaidYahoo Finance (ex-div)
2026-05-210.91 USDEx-dividend: 0.91 USD per sharePaidYahoo Finance (ex-div)
2026-02-190.91 USDEx-dividend: 0.91 USD per sharePaidYahoo Finance (ex-div)
2025-11-200.91 USDEx-dividend: 0.91 USD per sharePaidYahoo Finance (ex-div)
2025-08-210.83 USDEx-dividend: 0.83 USD per sharePaidYahoo Finance (ex-div)
2025-05-150.83 USDEx-dividend: 0.83 USD per sharePaidYahoo Finance (ex-div)
2025-02-200.83 USDEx-dividend: 0.83 USD per sharePaidYahoo Finance (ex-div)
2024-11-210.83 USDEx-dividend: 0.83 USD per sharePaidYahoo Finance (ex-div)
2024-08-150.75 USDEx-dividend: 0.75 USD per sharePaidYahoo Finance (ex-div)
2024-05-150.75 USDEx-dividend: 0.75 USD per sharePaidYahoo Finance (ex-div)
2024-02-140.75 USDEx-dividend: 0.75 USD per sharePaidYahoo Finance (ex-div)
2023-11-150.75 USDEx-dividend: 0.75 USD per sharePaidYahoo Finance (ex-div)
2023-08-160.68 USDEx-dividend: 0.68 USD per sharePaidYahoo Finance (ex-div)
2023-05-170.68 USDEx-dividend: 0.68 USD per sharePaidYahoo Finance (ex-div)
2023-02-150.68 USDEx-dividend: 0.68 USD per sharePaidYahoo Finance (ex-div)
2022-11-160.68 USDEx-dividend: 0.68 USD per sharePaidYahoo Finance (ex-div)
2022-08-170.62 USDEx-dividend: 0.62 USD per sharePaidYahoo Finance (ex-div)
2022-05-180.62 USDEx-dividend: 0.62 USD per sharePaidYahoo Finance (ex-div)
2022-02-160.62 USDEx-dividend: 0.62 USD per sharePaidYahoo Finance (ex-div)
2021-11-170.62 USDEx-dividend: 0.62 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of MICROSOFT CORP (MSFT) — from primary filings.

Frequently asked questions

What is MICROSOFT CORP (MSFT)'s P/E ratio?
MICROSOFT CORP (MSFT) trades at a P/E of 29.6x (price to trailing 12-month earnings).
What is MICROSOFT CORP (MSFT)'s EV/EBITDA?
MICROSOFT CORP (MSFT) trades at 20.8x EV/EBITDA.
What is MICROSOFT CORP (MSFT)'s P/B ratio?
MICROSOFT CORP (MSFT) trades at a P/B of 9.0x.
What is MICROSOFT CORP (MSFT)'s dividend yield?
MICROSOFT CORP (MSFT)'s trailing 12-month dividend yield is 0.7%.
What is MICROSOFT CORP (MSFT)'s return on equity (ROE)?
MICROSOFT CORP (MSFT)'s ROE is 32.3%.
What is MICROSOFT CORP (MSFT)'s market capitalization?
MICROSOFT CORP (MSFT)'s market cap is 3960.0 bn USD.

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