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	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	Q4 2021
Total Revenue	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	46.15
Cost of Revenue	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	13.99
Gross Profit	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	32.16
Research & Development	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	5.69
Selling, General & Admin	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	1.52
Total Operating Expenses*	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	13.07
Operating Income	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	19.10
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	0.55
Pretax Income	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	19.41
Tax Provision	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	2.95
Net Income	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	16.46
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	2.18
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	2.17

* Derived from reported values

Cash Flow Statement

(in billions USD)

Metric	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	Q4 2021
Operating Cash Flow	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	22.71
Capital Expenditures	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	6.45
Free Cash Flow*	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	16.26
Investing Cash Flow	(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)	(10.85)
Financing Cash Flow	(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)	(11.37)

* Derived from reported values

Dividends Per Share

(USD)

Metric	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	Q4 2021
Dividends Per Share	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	0.56