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Fundamentals · EDGAR XBRL · Information Technology

MSFT

Latest: Q4 FY26 · Thesis page →
Revenue$90.0B+17.7% YoY
Net income$35.8B+31.3% YoY
Free cash flow$19.6B-23.2% YoY
Gross margin67.2%-1.4 pts vs a year ago

Revenue vs Net income

Reported dollars from 10-Q / 10-K filings. Q4 bars are derived (annual less nine months) where the 10-K does not tag Q4 separately.

■ Revenue   ■ Net income
$0$32.4B$64.8B$97.2BQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26

Margin trend

Gross, operating and net margin. Margins are derived from reported dollars.

● Gross margin   ● Operating margin   ● Net margin
29%44%60%75%Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26

Revenue YoY growth

Year-over-year change vs the same quarter (or fiscal year) a year earlier. Shown where the prior-year period is in the 8-quarter snapshot (latest four quarters).

+18%+17%+18%+18%Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26

Income statement

From 10-Q / 10-K XBRL. Values in reported dollars; EPS in $/share; share counts in shares.

Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Revenue$65.6B$69.6B$70.1B$76.4B$77.7B$81.3B$82.9B$90.0B
YoY————+18.4%+16.7%+18.3%+17.7%
Cost of goods sold$20.1B$21.8B$21.9B$24.0B$24.0B$26.0B$26.8B$29.5B
YoY————+19.6%+19.2%+22.4%+22.9%
Gross profit$45.5B$47.8B$48.1B$52.4B$53.6B$55.3B$56.1B$60.5B
YoY————+17.9%+15.6%+16.4%+15.4%
Research & development$7.5B$7.9B$8.2B$8.8B$8.1B$8.5B$8.9B$10.0B
YoY————+8.0%+7.4%+8.7%+13.2%
Selling, general & administrative$7.4B$8.3B$7.9B$9.3B$7.5B$8.5B$8.7B$9.9B
YoY————+1.8%+3.1%+10.0%+6.5%
Operating income$30.6B$31.7B$32.0B$34.3B$38.0B$38.3B$38.4B$40.6B
YoY————+24.3%+20.9%+20.0%+18.3%
Pretax income$30.3B$29.4B$31.4B$32.6B$34.3B$48.2B$39.3B$44.0B
YoY————+13.3%+64.3%+25.4%+35.0%
Income tax$5.6B$5.3B$5.6B$5.4B$6.6B$9.8B$7.6B$8.3B
YoY————+17.0%+86.2%+36.2%+53.8%
Net income$24.7B$24.1B$25.8B$27.2B$27.7B$38.5B$31.8B$35.8B
YoY————+12.5%+59.5%+23.1%+31.3%
EPS — basic$3.32$3.24$3.47—$3.73$5.18$4.28—
YoY————+12.3%+59.9%+23.3%—
EPS — diluted$3.30$3.23$3.46—$3.72$5.16$4.27—
YoY————+12.7%+59.8%+23.4%—
Weighted shares — basic7.43B7.43B7.43B—7.43B7.43B7.43B—
Weighted shares — diluted7.47B7.47B7.46B—7.47B7.46B7.45B—

Balance sheet

Point-in-time values at each quarter (or fiscal year) end.

Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Cash & equivalents$20.8B$17.5B$28.8B$30.2B$28.8B$24.3B$32.1B$20.9B
YoY————+38.4%+39.0%+11.4%-30.8%
Marketable securities (current)————————
YoY————————
Accounts receivable$44.1B$48.2B$51.7B$69.9B$52.9B$56.5B$60.0B$80.9B
YoY————+19.8%+17.3%+16.1%+15.7%
Inventory$1.6B$909.0M$848.0M$938.0M$1.1B$1.1B$1.2B$1.4B
YoY————-30.5%+16.5%+43.8%+48.9%
Total current assets$149.9B$147.1B$156.6B$191.1B$189.1B$180.2B$175.3B$207.7B
YoY————+26.1%+22.5%+11.9%+8.7%
Total assets$523.0B$533.9B$562.6B$619.0B$636.4B$665.3B$694.2B$758.4B
YoY————+21.7%+24.6%+23.4%+22.5%
Total current liabilities$115.2B$108.9B$114.2B$141.2B$135.0B$130.0B$136.7B$168.8B
YoY————+17.2%+19.4%+19.7%+19.5%
Total liabilities$235.3B$231.2B$240.7B$275.5B$273.3B$274.4B$279.9B$316.0B
YoY————+16.1%+18.7%+16.3%+14.7%
Total equity$287.7B$302.7B$321.9B$343.5B$363.1B$390.9B$414.4B$442.4B
YoY————+26.2%+29.1%+28.7%+28.8%
Shares outstanding7.44B7.43B7.43B7.43B7.43B7.43B7.43B7.43B
YoY————-0.0%-0.1%-0.1%-0.1%

Cash flow

Quarterly values derived from year-to-date filings (Q4 from the 10-K). Free cash flow = operating cash flow − capital expenditures.

Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Operating cash flow$34.2B$22.3B$37.0B$42.6B$45.1B$35.8B$46.7B$55.4B
YoY————+31.8%+60.4%+26.0%+30.0%
Capital expenditures$14.9B$15.8B$16.7B$17.1B$19.4B$29.9B$30.9B$35.8B
YoY————+30.0%+89.0%+84.4%+109.6%
Free cash flow$19.3B$6.5B$20.3B$25.6B$25.7B$5.9B$15.8B$19.6B
YoY————+33.3%-9.3%-22.1%-23.2%
Dividends paid————————
YoY————————
Share repurchases$4.1B$5.0B$4.8B$4.5B$5.7B$7.4B$4.6B$4.6B
YoY————+37.6%+48.7%-3.2%+0.7%

Margins & ratios

Derived from the reported dollars above — no separate source.

Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Gross margin69.4%68.7%68.7%68.6%69.0%68.0%67.6%67.2%
Operating margin46.6%45.5%45.7%44.9%48.9%47.1%46.3%45.1%
Net margin37.6%34.6%36.9%35.6%35.7%47.3%38.3%39.7%
Free cash flow margin29.4%9.3%29.0%33.4%33.0%7.2%19.1%21.8%
Effective tax rate18.5%17.9%17.7%16.5%19.1%20.3%19.2%18.8%
Current ratio1.30x1.35x1.37x1.35x1.40x1.39x1.28x1.23x
Total liabilities / equity0.82x0.76x0.75x0.80x0.75x0.70x0.68x0.71x

Peer comparison — latest full year

Same sector (Information Technology), sorted by revenue. All figures from the same EDGAR XBRL snapshot.

TickerRevenueRevenue YoYGross marginOperating marginNet marginFCF margin
MSFT FY26 · this stock$331.8B+17.8%67.9%46.8%40.3%20.2%
AAPL FY25$416.2B+6.4%46.9%32.0%26.9%23.7%
NVDA FY26$215.9B+65.5%71.1%60.4%55.6%—
MU FY26$133.2B+256.3%80.7%74.6%63.8%44.3%
IBM FY25$67.5B+7.6%58.2%—15.7%17.9%
ORCL FY26$67.4B+17.3%—30.6%25.4%-35.2%
CSCO FY26$63.3B+11.8%64.5%24.3%21.0%20.2%
INTC FY25$52.9B-0.5%34.8%-4.2%-0.5%-9.4%
AVGO FY24$51.6B+44.0%63.0%26.1%—37.6%
QCOM FY25$44.3B+13.7%—27.9%12.5%—
CRM FY26$41.5B+9.6%77.7%20.1%18.0%34.7%

Source: SEC EDGAR XBRL company facts (10-Q / 10-K), snapshot generated 2026-11-03 for 218 tickers. Q4 values are derived as the 10-K annual less the first nine months, since Q4 is not separately tagged in company facts; cash-flow quarterly values are derived from year-to-date filings the same way. Free cash flow = operating cash flow − capital expenditures. Blank cells mean the filing does not report that line item under a standard US-GAAP tag — nothing is estimated or filled in. Descriptive research, not investment advice. How EarnIQ builds fundamentals.