Microsoft Corporation
NASDAQ: MSFT · TECHNOLOGY · SOFTWARE - INFRASTRUCTURE
Updated 2026-06-12
Microsoft Corporation (MSFT) Financial statements
SEC filings — annual and quarterly data.
Cash flow — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $14.40B | $17.80B | $21.61B | $19.04B | $24.07B | $26.99B | $31.63B | $28.83B | $32.50B | $29.67B | $33.33B | $39.51B | $43.88B | $52.19B | $60.67B | $76.74B | $89.03B | $87.58B | $118.55B | $136.16B |
| Capital expenditures | $1.58B | $2.26B | $3.18B | $3.12B | $1.98B | $2.35B | $2.31B | $4.26B | $5.49B | $5.94B | $8.34B | $8.13B | $11.63B | $13.93B | $15.44B | $20.62B | $23.89B | $28.11B | $44.48B | $64.55B |
| Depreciation | $903.00M | $1.44B | $2.06B | $2.56B | $2.67B | $2.77B | $2.97B | $3.75B | $5.21B | $5.96B | $6.62B | $8.78B | $10.26B | $11.68B | $12.80B | $11.69B | $14.46B | $13.86B | $22.29B | $34.15B |
| Stock-based comp | $1.45B | $-292.00M | $1.48B | $1.71B | $1.89B | $2.17B | $2.24B | $2.41B | $2.45B | $2.57B | $2.67B | $3.27B | $3.94B | $4.65B | $5.29B | $6.12B | $7.50B | $9.61B | $10.73B | $11.97B |
| Free cash flow | $12.83B | $15.53B | $18.43B | $15.92B | $22.10B | $24.64B | $29.32B | $24.58B | $27.02B | $23.72B | $24.98B | $31.38B | $32.25B | $38.26B | $45.23B | $56.12B | $65.15B | $59.48B | $74.07B | $71.61B |
| Investing cash flow | $8.00B | $6.09B | $-4.59B | $-15.77B | $-11.31B | $-14.62B | $-24.79B | $-23.81B | $-18.83B | $-23.00B | $-23.95B | $-46.78B | $-6.06B | $-15.77B | $-12.22B | $-27.58B | $-30.31B | $-22.68B | $-96.97B | $-72.60B |
| Financing cash flow | $-20.56B | $-24.54B | $-12.93B | $-7.46B | $-13.29B | $-8.38B | $-9.41B | $-8.15B | $-8.66B | $-9.67B | $-8.39B | $8.41B | $-33.59B | $-36.89B | $-46.03B | $-48.49B | $-58.88B | $-43.94B | $-37.76B | $-51.70B |
| Dividends paid | $3.54B | $3.81B | $4.01B | $4.47B | $4.58B | $5.18B | $6.38B | $7.46B | $8.88B | $9.88B | $11.01B | $11.85B | $12.70B | $13.81B | $15.14B | $16.52B | $18.14B | $19.80B | $21.77B | $24.08B |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Debt repayment | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net change in cash | — | — | — | — | $-571.00M | $4.11B | $-2.67B | $-3.13B | $4.87B | $-3.07B | $915.00M | $1.15B | $4.28B | $-590.00M | $2.22B | $648.00M | $-152.00M | — | — | — |
Frequently asked questions
What is Microsoft Corporation's revenue?
Microsoft Corporation's trailing twelve-month revenue is $318.27B, and consensus projects about $671.00B by 2030. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is MSFT?
In its most recent fiscal year, MSFT ran a gross margin of 68.82%, an operating margin of 45.62%, and a net margin of 36.15%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does MSFT generate?
MSFT produced $71.61B in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is MSFT's balance sheet healthy?
MSFT holds $30.24B in cash and equivalents against $40.15B in long-term debt, on $343.48B of shareholder equity. That debt is best read against the cash flow the business throws off each year.