Microsoft Corporation

MSFTNASDAQ

$517.90

Last price · USD

Market cap: $3.87T
P/E: 38.0x
EV / EBITDA: 24.6x
P/S: 13.7x
FCF yield: 1.9%
Div. yield: 0.62%

Multiples use last price and FY2025 annual figures. Market cap estimated from diluted shares.

Microsoft Corporation balance sheet

Annual · USD millions except per-share data · 42 lines

Fiscal year	2025latest	2024	2023	2022	2021	CAGR
Current assets
Cash & cash equivalents	30,242	18,315	34,704	13,931	14,224	+20.8%
Short-term investments	64,313	57,216	76,552	90,818	116,032	-13.7%
Cash & short-term investments	94,555	75,531	111,256	104,749	130,256	-7.7%
Net receivables	69,905	56,924	48,688	44,261	38,043	+16.4%
Accounts receivable	69,905	56,924	48,688	44,261	38,043	+16.4%
Inventory	938	1,246	2,500	3,742	2,636	-22.8%
Other current assets	25,733	26,033	21,813	16,932	13,471	+17.6%
Total current assets	191,131	159,734	184,257	169,684	184,406	+0.9%
Non-current assets
Property, plant & equipment (net)	229,789	154,552	109,987	87,546	70,803	+34.2%
Goodwill	119,509	119,220	67,886	67,524	49,711	+24.5%
Intangible assets	22,604	27,597	9,366	11,298	7,800	+30.5%
Goodwill & intangible assets	142,113	146,817	77,252	78,822	57,511	+25.4%
Long-term investments	15,133	14,600	9,879	6,891	5,984	+26.1%
Other non-current assets	40,837	36,460	30,601	21,897	15,075	+28.3%
Total non-current assets	427,872	352,429	227,719	195,156	149,373	+30.1%
Total assets	619,003	512,163	411,976	364,840	333,779	+16.7%
Current liabilities
Accounts payable	27,724	21,996	18,095	19,000	15,163	+16.3%
Other payables	7,211	5,017	4,152	4,067	2,174	+35.0%
Total payables	34,935	27,013	22,247	23,067	17,337	+19.1%
Short-term debt	2,999	8,942	5,247	2,749	8,072	-21.9%
Capital lease obligations (current)	8,596	5,929	3,606	3,288	2,753	+32.9%
Tax payables	0	5,017	4,152	4,067	2,174	—
Deferred revenue	64,555	57,582	50,901	45,538	41,525	+11.7%
Other current liabilities	30,133	25,820	22,148	20,440	18,970	+12.3%
Total current liabilities	141,218	125,286	104,149	95,082	88,657	+12.3%
Non-current liabilities
Long-term debt	40,152	42,688	41,990	47,032	50,074	-5.4%
Capital lease obligations (non-current)	60,437	40,293	28,598	25,331	21,379	+29.7%
Deferred revenue (non-current)	2,710	2,602	2,912	2,870	2,616	+0.9%
Deferred tax liabilities (non-current)	2,835	2,618	433	230	198	+94.5%
Other non-current liabilities	28,172	30,199	27,671	27,753	28,867	-0.6%
Total non-current liabilities	134,306	118,400	101,604	103,216	103,134	+6.8%
Capital lease obligations	69,033	46,222	32,204	28,619	24,132	+30.1%
Total debt	112,184	97,852	79,441	78,400	82,278	+8.1%
Total liabilities	275,524	243,686	205,753	198,298	191,791	+9.5%
Stockholders' equity
Common stock	109,095	100,923	93,718	86,939	83,111	+7.0%
Retained earnings	237,731	173,144	118,848	84,281	57,055	+42.9%
Accumulated other comprehensive income (loss)	(3,347)	(5,590)	(6,343)	(4,678)	1,822	—
Total stockholders' equity	343,479	268,477	206,223	166,542	141,988	+24.7%
Total equity	343,479	268,477	206,223	166,542	141,988	+24.7%
Total liabilities & equity	619,003	512,163	411,976	364,840	333,779	+16.7%
Additional fields
Net Debt	81,942	79,537	44,737	64,469	68,054	+4.8%
Total Investments	79,446	71,816	86,431	97,709	122,016	-10.2%

Microsoft Corporation

MSFTNASDAQ

$517.90

Last price · USD

Market cap: $3.87T
P/E: 38.0x
EV / EBITDA: 24.6x
P/S: 13.7x
FCF yield: 1.9%
Div. yield: 0.62%

Multiples use last price and FY2025 annual figures. Market cap estimated from diluted shares.

Microsoft Corporation balance sheet

Annual · USD millions except per-share data · 42 lines

Fiscal year	2025latest	2024	2023	2022	2021	CAGR
Current assets
Cash & cash equivalents	30,242	18,315	34,704	13,931	14,224	+20.8%
Short-term investments	64,313	57,216	76,552	90,818	116,032	-13.7%
Cash & short-term investments	94,555	75,531	111,256	104,749	130,256	-7.7%
Net receivables	69,905	56,924	48,688	44,261	38,043	+16.4%
Accounts receivable	69,905	56,924	48,688	44,261	38,043	+16.4%
Inventory	938	1,246	2,500	3,742	2,636	-22.8%
Other current assets	25,733	26,033	21,813	16,932	13,471	+17.6%
Total current assets	191,131	159,734	184,257	169,684	184,406	+0.9%
Non-current assets
Property, plant & equipment (net)	229,789	154,552	109,987	87,546	70,803	+34.2%
Goodwill	119,509	119,220	67,886	67,524	49,711	+24.5%
Intangible assets	22,604	27,597	9,366	11,298	7,800	+30.5%
Goodwill & intangible assets	142,113	146,817	77,252	78,822	57,511	+25.4%
Long-term investments	15,133	14,600	9,879	6,891	5,984	+26.1%
Other non-current assets	40,837	36,460	30,601	21,897	15,075	+28.3%
Total non-current assets	427,872	352,429	227,719	195,156	149,373	+30.1%
Total assets	619,003	512,163	411,976	364,840	333,779	+16.7%
Current liabilities
Accounts payable	27,724	21,996	18,095	19,000	15,163	+16.3%
Other payables	7,211	5,017	4,152	4,067	2,174	+35.0%
Total payables	34,935	27,013	22,247	23,067	17,337	+19.1%
Short-term debt	2,999	8,942	5,247	2,749	8,072	-21.9%
Capital lease obligations (current)	8,596	5,929	3,606	3,288	2,753	+32.9%
Tax payables	0	5,017	4,152	4,067	2,174	—
Deferred revenue	64,555	57,582	50,901	45,538	41,525	+11.7%
Other current liabilities	30,133	25,820	22,148	20,440	18,970	+12.3%
Total current liabilities	141,218	125,286	104,149	95,082	88,657	+12.3%
Non-current liabilities
Long-term debt	40,152	42,688	41,990	47,032	50,074	-5.4%
Capital lease obligations (non-current)	60,437	40,293	28,598	25,331	21,379	+29.7%
Deferred revenue (non-current)	2,710	2,602	2,912	2,870	2,616	+0.9%
Deferred tax liabilities (non-current)	2,835	2,618	433	230	198	+94.5%
Other non-current liabilities	28,172	30,199	27,671	27,753	28,867	-0.6%
Total non-current liabilities	134,306	118,400	101,604	103,216	103,134	+6.8%
Capital lease obligations	69,033	46,222	32,204	28,619	24,132	+30.1%
Total debt	112,184	97,852	79,441	78,400	82,278	+8.1%
Total liabilities	275,524	243,686	205,753	198,298	191,791	+9.5%
Stockholders' equity
Common stock	109,095	100,923	93,718	86,939	83,111	+7.0%
Retained earnings	237,731	173,144	118,848	84,281	57,055	+42.9%
Accumulated other comprehensive income (loss)	(3,347)	(5,590)	(6,343)	(4,678)	1,822	—
Total stockholders' equity	343,479	268,477	206,223	166,542	141,988	+24.7%
Total equity	343,479	268,477	206,223	166,542	141,988	+24.7%
Total liabilities & equity	619,003	512,163	411,976	364,840	333,779	+16.7%
Additional fields
Net Debt	81,942	79,537	44,737	64,469	68,054	+4.8%
Total Investments	79,446	71,816	86,431	97,709	122,016	-10.2%