financial statements

The full income statement, balance sheet, and cash-flow statement for Microsoft Corporation (MSFT), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

See the live MSFT chart & snapshot →

PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofJun 30 ’25	as ofJun 30 ’24	as ofJun 30 ’23	as ofJun 30 ’22	as ofJun 30 ’21
Revenue	282B YoY+14.9%	245B YoY+15.7%	212B YoY+6.9%	198B YoY+18.0%	168B YoY+17.5%
	194B YoY+13.4%	171B YoY+17.1%	146B YoY+7.7%	136B YoY+17.1%	116B YoY+19.5%
Cost of revenue	87.8B YoY+18.5%	74.1B YoY+12.5%	65.9B YoY+5.1%	62.6B YoY+19.9%	52.2B YoY+13.4%
	65.4B YoY+6.2%	61.6B YoY+7.0%	57.5B	—	—
Research & development	32.5B YoY+10.1%	29.5B YoY+8.5%	27.2B YoY+10.9%	24.5B YoY+18.3%	20.7B YoY+7.5%
Selling, general & administrative	7.22B YoY-5.1%	7.61B YoY+0.4%	7.58B YoY+28.4%	5.90B YoY+15.5%	5.11B YoY-0.1%
General & administrative	7.22B YoY-5.1%	7.61B YoY+0.4%	7.58B YoY+28.4%	5.90B YoY+15.5%	5.11B YoY-0.1%
Selling & marketing	25.7B YoY+4.9%	24.5B YoY+7.5%	22.8B YoY+4.3%	21.8B YoY+8.5%	20.1B YoY+2.6%
Amortization of intangibles	6.00B YoY+25.0%	4.80B YoY+92.0%	2.50B YoY+25.0%	2.00B YoY+25.0%	1.60B YoY+0.0%
Operating income	129B YoY+17.4%	109B YoY+23.6%	88.5B YoY+6.2%	83.4B YoY+19.3%	69.9B YoY+32.0%
Interest expense	2.38B YoY-18.7%	2.94B YoY+49.1%	1.97B YoY-4.6%	2.06B YoY-12.1%	2.35B YoY-9.5%
Other non-operating income	-4.72B YoY-258.2%	-1.32B YoY-491.5%	-223M YoY-596.9%	-32.0M YoY-132.7%	98.0M YoY+345.0%
Pre-tax income	124B YoY+14.7%	108B YoY+20.7%	89.3B YoY+6.7%	83.7B YoY+17.7%	71.1B YoY+34.1%
Income tax	21.8B YoY+10.9%	19.7B YoY+15.9%	16.9B YoY+54.4%	11.0B YoY+11.7%	9.83B YoY+12.3%
Net income	102B YoY+15.5%	88.1B YoY+21.8%	72.4B YoY-0.5%	72.7B YoY+18.7%	61.3B YoY+38.4%
	$13.64 YoY+15.6%	$11.80 YoY+21.9%	$9.68 YoY+0.3%	$9.65 YoY+19.9%	$8.05 YoY+39.8%
EPS (basic)	$13.70 YoY+15.5%	$11.86 YoY+22.0%	$9.72 YoY+0.2%	$9.70 YoY+19.5%	$8.12 YoY+39.5%
Weighted-avg shares (basic)	7.43B YoY+0.0%	7.43B YoY-0.2%	7.45B YoY-0.7%	7.50B YoY-0.7%	7.55B YoY-0.8%
Weighted-avg shares (diluted)	7.46B YoY-0.1%	7.47B YoY-0.0%	7.47B YoY-0.9%	7.54B YoY-0.9%	7.61B YoY-1.0%
Dividends per share	$3.32 YoY+10.7%	$3.00 YoY+10.3%	$2.72 YoY+9.7%	$2.48 YoY+10.7%	$2.24 YoY+9.8%
Balance Sheet	as ofJun 30 ’25	as ofJun 30 ’24	as ofJun 30 ’23	as ofJun 30 ’22	as ofJun 30 ’21
	191B YoY+19.7%	160B YoY-13.3%	184B YoY+8.6%	170B YoY-8.0%	184B YoY+1.4%
Cash & equivalents	30.2B YoY+65.1%	18.3B YoY-47.2%	34.7B YoY+149.1%	13.9B YoY-2.1%	14.2B YoY+4.8%
Short-term investments	64.3B YoY+12.4%	57.2B YoY-25.2%	76.6B YoY-15.7%	90.8B YoY-21.8%	116B YoY-5.6%
Cash & short-term investments	94.6B YoY+25.2%	75.5B YoY-32.1%	111B YoY+6.2%	105B YoY-19.6%	130B YoY-4.5%
Accounts receivable	69.9B YoY+22.8%	56.9B YoY+16.9%	48.7B YoY+10.0%	44.3B YoY+16.3%	38.0B YoY+18.8%
Inventory	938M YoY-24.7%	1.25B YoY-50.2%	2.50B YoY-33.2%	3.74B YoY+42.0%	2.64B YoY+39.1%
Other current assets	25.7B YoY-1.1%	26.0B YoY+19.3%	21.8B YoY+28.9%	16.9B YoY+26.4%	13.4B YoY+16.6%
	619B YoY+20.9%	512B YoY+24.3%	412B YoY+12.9%	365B YoY+9.3%	334B YoY+10.8%
Property, plant & equipment	205B YoY+51.2%	136B YoY+41.8%	95.6B YoY+28.6%	74.4B YoY+24.6%	59.7B YoY+35.3%
Operating lease right-of-use	24.8B YoY+30.9%	19.0B YoY+32.2%	14.3B YoY+9.1%	13.1B YoY+18.6%	11.1B YoY+26.7%
Goodwill	120B YoY+0.2%	119B YoY+75.6%	67.9B YoY+0.5%	67.5B YoY+35.8%	49.7B YoY+14.7%
Intangible assets	22.6B YoY-18.1%	27.6B YoY+194.7%	9.37B YoY-17.1%	11.3B YoY+44.8%	7.80B YoY+10.8%
Long-term investments	15.4B YoY+5.5%	14.6B YoY+47.8%	9.88B YoY+43.4%	6.89B YoY+15.2%	5.98B YoY+101.8%
Deferred tax assets	0.00	0.00	0.00	0.00	0.00
Other non-current assets	40.6B YoY+11.3%	36.5B YoY+19.1%	30.6B YoY+39.7%	21.9B YoY+45.3%	15.1B YoY+14.7%
	141B YoY+12.7%	125B YoY+20.3%	104B YoY+9.5%	95.1B YoY+7.2%	88.7B YoY+22.6%
Accounts payable	27.7B YoY+26.0%	22.0B YoY+21.6%	18.1B YoY-4.8%	19.0B YoY+25.3%	15.2B YoY+21.0%
Deferred revenue	64.6B YoY+12.1%	57.6B YoY+13.1%	50.9B YoY+11.8%	45.5B YoY+9.7%	41.5B YoY+15.3%
Short-term & current debt	3.00B YoY+33.3%	2.25B YoY-57.1%	5.25B YoY+90.9%	2.75B YoY-65.9%	8.07B YoY+115.3%
Other current liabilities	25.0B YoY+30.4%	19.2B YoY+30.1%	14.7B YoY+12.8%	13.1B YoY+12.0%	11.7B YoY+16.3%
	276B YoY+13.1%	244B YoY+18.4%	206B YoY+3.8%	198B YoY+3.4%	192B YoY+4.8%
Long-term debt	40.2B YoY-5.9%	42.7B YoY+1.7%	42.0B YoY-10.7%	47.0B YoY-6.1%	50.1B YoY-16.0%
Deferred revenue (non-current)	2.71B YoY+4.2%	2.60B YoY-10.6%	2.91B YoY+1.5%	2.87B YoY+9.7%	2.62B YoY-17.7%
Non-current lease liability	17.4B YoY+12.5%	15.5B YoY+21.8%	12.7B YoY+10.8%	11.5B YoY+19.3%	9.63B YoY+25.5%
Deferred tax liabilities	2.83B YoY+8.3%	2.62B YoY+504.6%	433M YoY+88.3%	230M YoY+16.2%	198M YoY-2.9%
Other non-current liabilities	45.2B YoY+67.0%	27.1B YoY+50.5%	18.0B YoY+15.8%	15.5B YoY+15.6%	13.4B YoY+26.3%
	343B YoY+27.9%	268B YoY+30.2%	206B YoY+23.8%	167B YoY+17.3%	142B YoY+20.0%
Retained earnings	238B YoY+37.3%	173B YoY+45.7%	119B YoY+41.0%	84.3B YoY+47.7%	57.1B YoY+65.1%
Accumulated other comprehensive income	-3.35B YoY+40.1%	-5.59B YoY+11.9%	-6.34B YoY-35.6%	-4.68B YoY-356.8%	1.82B YoY-42.8%
Total liabilities & equity	619B YoY+20.9%	512B YoY+24.3%	412B YoY+12.9%	365B YoY+9.3%	334B YoY+10.8%
Common shares issued	7.43B	—	—	—	—
Common shares outstanding	7.43B YoY+0.0%	7.43B YoY+0.0%	7.43B YoY-0.4%	7.46B YoY-0.7%	7.52B YoY-0.7%
Shares outstanding (cover)	7.43B YoY+0.0%	7.43B YoY-0.0%	7.44B YoY-0.6%	7.48B YoY-0.7%	7.53B YoY-0.7%
Cash Flow	as ofJun 30 ’25	as ofJun 30 ’24	as ofJun 30 ’23	as ofJun 30 ’22	as ofJun 30 ’21
	136B YoY+14.9%	119B YoY+35.4%	87.6B YoY-1.6%	89.0B YoY+16.0%	76.7B YoY+26.5%
Depreciation & amortization	22.0B YoY+44.7%	15.2B YoY+38.2%	11.0B YoY-12.7%	12.6B YoY+35.5%	9.30B YoY-13.1%
Share-based compensation	12.0B YoY+11.6%	10.7B YoY+11.7%	9.61B YoY+28.1%	7.50B YoY+22.6%	6.12B YoY+15.7%
Deferred income taxes	-7.06B YoY-48.9%	-4.74B YoY+21.8%	-6.06B YoY-6.3%	-5.70B YoY-3701.3%	-150M YoY-1463.6%
Change in receivables	10.6B YoY+47.1%	7.19B YoY+75.9%	4.09B YoY-40.2%	6.83B YoY+5.4%	6.48B YoY+151.5%
Change in inventory	-309M YoY+75.9%	-1.28B YoY-3.4%	-1.24B YoY-210.6%	1.12B YoY+52.4%	737M YoY+538.7%
Change in payables	569M YoY-83.9%	3.54B YoY+230.3%	-2.72B YoY-192.5%	2.94B YoY+5.2%	2.80B YoY-7.3%
	-72.6B YoY+25.1%	-97.0B YoY-327.6%	-22.7B YoY+25.2%	-30.3B YoY-9.9%	-27.6B YoY-125.6%
Capital expenditure	64.6B YoY+45.1%	44.5B YoY+58.2%	28.1B YoY+17.7%	23.9B YoY+15.8%	20.6B YoY+33.6%
Purchases of investments	29.8B YoY+67.9%	17.7B YoY-52.9%	37.7B YoY+42.3%	26.5B YoY-58.0%	62.9B YoY-18.5%
Sales/maturities of investments	16.1B YoY-35.1%	24.8B YoY-26.1%	33.5B YoY+103.7%	16.5B YoY-68.2%	51.8B YoY-22.1%
Other investing activities	-2.32B YoY-278.5%	1.30B YoY-58.3%	3.12B YoY+10.3%	2.83B YoY+206.4%	922M YoY-25.7%
	-51.7B YoY-36.9%	-37.8B YoY+14.1%	-43.9B YoY+25.4%	-58.9B YoY-21.4%	-48.5B YoY-5.3%
Common stock issued	2.06B YoY+2.7%	2.00B YoY+7.3%	1.87B YoY+1.4%	1.84B YoY+8.7%	1.69B YoY+26.1%
Common stock repurchased	18.4B YoY+6.8%	17.3B YoY-22.4%	22.2B YoY-32.0%	32.7B YoY+19.4%	27.4B YoY+19.2%
Dividends paid	24.1B YoY+10.6%	21.8B YoY+10.0%	19.8B YoY+9.2%	18.1B YoY+9.8%	16.5B YoY+9.1%
Other financing activities	-2.29B YoY-75.0%	-1.31B YoY-30.1%	-1.01B YoY-16.6%	-863M YoY-12.2%	-769M YoY-130.2%
FX effect on cash	—	—	—	—	-29.0M YoY+85.6%
Net change in cash	11.9B YoY+172.8%	-16.4B YoY-178.9%	20.8B YoY+7189.8%	-293M YoY-145.2%	648M YoY-70.8%
Interest paid	1.60B YoY-5.9%	1.70B YoY+0.0%	1.70B YoY-10.5%	1.90B YoY-5.0%	2.00B YoY-16.7%
Income taxes paid	28.7B YoY+22.6%	23.4B YoY+1.3%	23.1B YoY+44.4%	16.0B YoY+19.4%	13.4B YoY+7.2%
Valuation Ratios	as ofJun 30 ’25	as ofJun 30 ’24	as ofJun 30 ’23	as ofJun 30 ’22	as ofJun 30 ’21
Market cap	3.70T YoY+11.3%	3.32T YoY+31.2%	2.53T YoY+31.8%	1.92T YoY-5.9%	2.04T YoY+32.2%
P/E	36.3× YoY-5.8%	38.5× YoY+10.1%	35.0× YoY+32.5%	26.4× YoY-20.7%	33.3× YoY-4.5%
P/S	13.1× YoY-6.5%	14.0× YoY+17.5%	11.9× YoY+23.3%	9.7× YoY-20.2%	12.1× YoY+12.5%
P/B	10.8× YoY-18.0%	13.1× YoY+6.8%	12.3× YoY+6.5%	11.5× YoY-19.7%	14.4× YoY+10.2%
P/FCF	51.6× YoY+9.7%	47.1× YoY+10.5%	42.6× YoY+44.4%	29.5× YoY-18.9%	36.4× YoY+6.6%
Earnings yield	2.8% YoY+6.1%	2.6% YoY-9.2%	2.9% YoY-24.5%	3.8% YoY+26.1%	3.0% YoY+4.7%
FCF yield	1.9% YoY-8.9%	2.1% YoY-9.5%	2.3% YoY-30.7%	3.4% YoY+23.3%	2.8% YoY-6.2%
Dividend yield	0.7% YoY-0.6%	0.7% YoY-16.0%	0.8% YoY-17.3%	1.0% YoY+16.8%	0.8% YoY-17.5%
Source filing	10-K	10-K	10-K	8-K	10-K

About this data

Source: MSFT's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all MSFT filings on SEC EDGAR → Not investment advice.

MSFT▼ financial statements

About this data

financial statements