Microsoft Corporation (MSFT) Financial Statements — Income, Balance Sheet, Cash Flow

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Financial Statements — MSFT

Balance Sheet

(in billions USD)

Metric	Q3 2026	Q2 2026	Q1 2026	Q3 2025	Q2 2025	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022	Q2 2022	Q1 2022	Q3 2021	Q2 2021	Q1 2021
Cash & Equivalents	32.10	24.30	28.85	28.83	17.48	20.84	19.63	17.31	80.45	26.56	15.65	22.88	12.50	20.60	19.17	13.70	14.43	17.20
Short-term Investments	46.17	65.17	73.16	50.79	54.07	57.59	60.39	63.71	63.50	77.86	83.86	84.38	92.20	104.77	111.45	111.71	117.54	120.77
Accounts Receivable	60.04	56.54	52.89	51.70	48.19	44.15	44.03	42.83	36.95	37.42	35.83	31.28	32.61	33.52	27.35	26.32	27.31	22.85
Inventory	1.22	1.06	1.13	0.85	0.91	1.63	1.30	1.62	3.00	2.88	2.98	4.27	3.30	3.02	3.41	2.25	1.92	2.71
Total Current Assets	175.33	180.19	189.07	156.64	147.08	149.93	147.18	147.39	207.59	163.89	157.82	160.81	153.92	174.19	174.33	165.61	173.97	177.08
Property, Plant & Equipment	283.23	261.13	230.86	183.94	166.90	152.86	121.38	112.31	102.50	88.13	82.76	77.04	70.30	67.21	63.77	54.95	51.74	47.93
Goodwill	119.66	119.62	119.50	119.33	119.19	119.37	119.16	118.93	67.79	67.94	67.91	67.46	67.37	50.92	50.46	49.70	44.22	43.89
Intangible Assets	19.33	20.29	21.24	23.97	25.39	26.75	28.83	29.90	8.90	9.88	10.35	10.81	11.35	7.46	7.79	8.13	6.56	6.92
Total Non-current Assets*	518.90	485.11	447.29	405.98	386.82	373.09	337.10	323.17	238.20	216.20	206.73	198.97	190.69	166.20	161.09	143.26	130.16	123.92
Total Assets	694.23	665.30	636.35	562.62	533.90	523.01	484.28	470.56	445.79	380.09	364.55	359.78	344.61	340.39	335.42	308.88	304.14	301.00
Accounts Payable	37.51	37.33	32.58	26.25	22.61	22.77	18.09	17.70	19.31	15.31	15.35	16.61	16.09	15.31	14.83	13.41	12.77	12.51
Total Current Liabilities	136.66	130.01	135.00	114.21	108.88	115.20	118.53	121.02	124.79	85.69	81.72	87.39	77.44	77.51	80.53	72.19	67.49	70.06
Long-term Debt	40.26	40.26	43.21	42.88	44.97	45.12	44.91	47.18	45.69	48.21	48.12	48.62	49.93	53.26	53.29	58.06	60.52	63.55
Total Non-current Liabilities*	143.20	144.42	138.28	126.53	122.32	120.09	112.60	111.27	100.28	99.71	99.70	98.83	104.24	102.87	102.91	102.18	106.42	107.55
Total Liabilities	279.86	274.43	273.27	240.73	231.20	235.29	231.12	232.29	225.07	185.41	181.42	186.22	181.68	180.38	183.44	174.37	173.90	177.61
Retained Earnings	302.53	280.79	254.87	219.76	203.48	188.93	159.39	145.74	132.14	108.23	99.37	92.37	79.63	75.05	66.94	50.74	44.97	39.19
Total Stockholder Equity	414.37	390.88	363.08	321.89	302.70	287.72	253.15	238.27	220.71	194.68	183.14	173.57	162.92	160.01	151.98	134.51	130.24	123.39

* Derived from reported values

Income Statement

(in billions USD) (except per-share rows)

Metric	Q4 2026	Q3 2026	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022
Total Revenue	90.01	82.89	81.27	77.67	76.44	70.07	69.63	65.58	64.73	61.86	62.02	56.52	56.19	52.86	52.75	50.12	51.87	49.36	51.73	45.32
Cost of Revenue	29.53	26.83	25.98	24.04	24.01	21.92	21.80	20.10	19.68	18.51	19.62	16.30	16.80	16.13	17.49	15.45	16.43	15.62	16.96	13.65
Gross Profit	60.48	56.06	55.30	53.63	52.43	48.15	47.83	45.49	45.04	43.35	42.40	40.22	39.39	36.73	35.26	34.67	35.44	33.74	34.77	31.67
Research & Development	10.00	8.91	8.50	8.15	8.83	8.20	7.92	7.54	8.06	7.65	7.14	6.66	6.74	6.98	6.84	6.63	6.85	6.31	5.76	5.60
Selling, General & Admin	2.29	1.93	1.93	1.81	1.99	1.74	1.82	1.67	2.25	1.91	1.98	1.47	2.20	1.64	2.34	1.40	1.75	1.48	1.38	1.29
Total Operating Expenses*	19.88	17.66	17.02	15.67	18.10	16.15	16.18	14.93	17.12	15.77	15.37	13.32	15.14	14.38	14.86	13.15	14.90	13.38	12.52	11.43
Operating Income	40.60	38.40	38.28	37.96	34.32	32.00	31.65	30.55	27.93	27.58	27.03	26.90	24.25	22.35	20.40	21.52	20.53	20.36	22.25	20.24
Interest Expense	--	--	--	--	--	--	--	--	0.70	0.80	0.91	0.53	0.48	0.50	0.49	0.50	0.50	0.50	0.53	0.54
Pretax Income	44.05	39.34	48.25	34.30	32.62	31.38	29.37	30.27	27.25	26.73	26.53	27.28	24.73	22.67	20.34	21.57	20.49	20.19	22.52	20.52
Tax Provision	8.28	7.56	9.79	6.55	5.38	5.55	5.26	5.60	5.21	4.79	4.66	4.99	4.65	4.37	3.91	4.02	3.75	3.46	3.75	0.02
Net Income	35.77	31.78	38.46	27.75	27.23	25.82	24.11	24.67	22.04	21.94	21.87	22.29	20.08	18.30	16.43	17.56	16.74	16.73	18.77	20.51
Basic EPS	--	4.28	5.18	3.73	3.67	3.47	3.24	3.32	2.97	2.95	2.94	3.00	2.71	2.46	2.20	2.35	2.24	2.23	2.50	2.73
Diluted EPS	--	4.27	5.16	3.72	3.65	3.46	3.23	3.30	2.94	2.94	2.93	2.99	2.68	2.45	2.20	2.35	2.24	2.22	2.48	2.71

* Derived from reported values

Cash Flow Statement

(in billions USD)

Metric	Q4 2026	Q3 2026	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022
Operating Cash Flow	55.44	46.68	35.76	45.06	42.65	37.04	22.29	34.18	37.20	31.92	18.85	30.58	28.77	24.44	11.17	23.20	24.63	25.39	14.48	24.54
Capital Expenditures	35.80	30.88	29.88	19.39	17.08	16.75	15.80	14.92	13.87	10.95	9.74	9.92	8.94	6.61	6.27	6.28	6.87	5.34	5.87	5.81
Free Cash Flow*	19.64	15.80	5.88	25.66	25.57	20.30	6.49	19.26	23.32	20.97	9.12	20.67	19.83	17.83	4.90	16.92	17.76	20.05	8.62	18.73
Investing Cash Flow	(54.83)	(27.40)	(22.70)	(34.56)	(30.57)	(12.71)	(14.11)	(15.20)	(14.85)	(10.70)	(71.92)	0.50	(9.13)	(3.26)	(7.15)	(3.13)	(9.73)	(16.17)	(1.16)	(3.25)
Financing Cash Flow	(11.78)	(11.35)	(17.62)	(11.80)	(10.84)	(13.04)	(11.24)	(16.58)	(23.56)	(18.81)	(10.15)	14.76	(11.41)	(10.29)	(11.35)	(10.88)	(13.27)	(17.34)	(11.99)	(16.28)

* Derived from reported values

Dividends Per Share

(USD)

Metric	Q4 2026	Q3 2026	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022
Dividends Per Share	0.91	0.91	0.91	0.91	0.83	0.83	0.83	0.83	0.75	0.75	0.75	0.75	0.68	0.68	0.68	0.68	0.62	0.62	0.62	0.62