9to5investing

Stocks·NASDAQ:MSFT

Microsoft (MSFT)

OverviewFinancialsOwnersFilings
Loading chart…
Revenue, last 12 months$346B+18% vs. a year before
Free cash flow, last 12 months$60BBringing in cash
Cash and short-term investments$64.5BDebt: $35.5B
Shares outstanding, past year-0.1%7.4B shares now
Backlog (signed, not yet booked)$683BAs of Sep 30, 2026

My take

No average analyst target in this video.

Every video where I mention MSFT

The last 12 months

  1. Nov 5, 20268-KExecutive or board change
  2. Nov 4, 20268-KOther news
  3. Oct 28, 20268-KOther news
  4. Oct 28, 202610-QQuarterly report
  5. Oct 28, 20268-KReleased quarterly results
  6. Jul 29, 202610-KAnnual report
  7. Jul 29, 20268-KReleased quarterly results
  8. Jun 5, 20268-KExecutive or board change
  9. May 14, 20268-KExecutive or board change
  10. Apr 30, 2026SCHEDULE 13GAn investor reported a 5%+ stake
  11. Apr 29, 202610-QQuarterly report
  12. Apr 29, 20268-KReleased quarterly results
  13. Jan 28, 202610-QQuarterly report
  14. Jan 28, 20268-KReleased quarterly results

All filings →

Revenue by year
FY16: $91.2BFY16FY17: $96.6BFY17FY18: $110BFY18FY19: $126BFY19FY20: $143BFY20FY21: $168BFY21FY23: $212BFY23FY24: $245BFY24FY25: $282BFY25FY26: $332BFY26$332B
Show the numbers
Revenue by year
FY16$91.2B
FY17$96.6B
FY18$110B
FY19$126B
FY20$143B
FY21$168B
FY23$212B
FY24$245B
FY25$282B
FY26$332B
Revenue by quarter calendar quarter the period ended in
Q4 23: $62BQ1 24: $61.9BQ1 24Q2 24: $64.7BQ3 24: $65.6BQ3 24Q4 24: $69.6BQ1 25: $70.1BQ1 25Q2 25: $76.4BQ3 25: $77.7BQ3 25Q4 25: $81.3BQ1 26: $82.9BQ1 26Q2 26: $90BQ3 26: $92.3BQ3 26$92.3B
Show the numbers
Revenue by quarter
Q4 23$62B
Q1 24$61.9B
Q2 24$64.7B
Q3 24$65.6B
Q4 24$69.6B
Q1 25$70.1B
Q2 25$76.4B
Q3 25$77.7B
Q4 25$81.3B
Q1 26$82.9B
Q2 26$90B
Q3 26$92.3B
Operating income (loss) by year profit from the business before interest and taxes
FY16: $26.1BFY16FY17: $29BFY17FY18: $35.1BFY18FY19: $43BFY19FY20: $53BFY20FY21: $69.9BFY21FY23: $88.5BFY23FY24: $109BFY24FY25: $129BFY25FY26: $155BFY26$155B
Show the numbers
Operating income (loss) by year
FY16$26.1B
FY17$29B
FY18$35.1B
FY19$43B
FY20$53B
FY21$69.9B
FY23$88.5B
FY24$109B
FY25$129B
FY26$155B
Free cash flow by year cash from operations minus spending on buildings and equipment
FY16: $25BFY16FY17: $31.4BFY17FY18: $32.3BFY18FY19: $38.3BFY19FY20: $45.2BFY20FY21: $56.1BFY21FY23: $59.5BFY23FY24: $74.1BFY24FY25: $71.6BFY25FY26: $67BFY26$67B
Show the numbers
Free cash flow by year
FY16$25B
FY17$31.4B
FY18$32.3B
FY19$38.3B
FY20$45.2B
FY21$56.1B
FY23$59.5B
FY24$74.1B
FY25$71.6B
FY26$67B
Cash vs. debt

Cash and short-term investmentsDebt

FY16 · Cash and short-term investments: $113BFY16 · Debt: $40.6BFY16FY17 · Cash and short-term investments: $133BFY17 · Debt: $77.1BFY17FY18 · Cash and short-term investments: $134BFY18 · Debt: $76.2BFY18FY19 · Cash and short-term investments: $134BFY19 · Debt: $72.2BFY19FY20 · Cash and short-term investments: $137BFY20 · Debt: $63.3BFY20FY21 · Cash and short-term investments: $130BFY21 · Debt: $58.1BFY21FY23 · Cash and short-term investments: $111BFY23 · Debt: $47.2BFY23FY24 · Cash and short-term investments: $75.5BFY24 · Debt: $44.9BFY24FY25 · Cash and short-term investments: $94.6BFY25 · Debt: $43.2BFY25FY26 · Cash and short-term investments: $76.8BFY26 · Debt: $40.3BFY26
Show the numbers
Cash and short-term investmentsDebt
FY16$113B$40.6B
FY17$133B$77.1B
FY18$134B$76.2B
FY19$134B$72.2B
FY20$137B$63.3B
FY21$130B$58.1B
FY23$111B$47.2B
FY24$75.5B$44.9B
FY25$94.6B$43.2B
FY26$76.8B$40.3B
How it makes money: Q1 2027 revenue by business segment; the thin line is a year earlier
  • Agents and Infra$76.8B 83% +25% vs. a year ago
  • Devices and Consumer$15.5B 17% -3% vs. a year ago

From the 10-Q filed Oct 28, 2026. Source.

Stock pay vs. buybacks

Stock-based pay to employeesSpent buying back shares

FY20 · Stock-based pay to employees: $5.29BFY20 · Spent buying back shares: $23BFY20FY21 · Stock-based pay to employees: $6.12BFY21 · Spent buying back shares: $27.4BFY21FY23 · Stock-based pay to employees: $9.61BFY23 · Spent buying back shares: $22.2BFY23FY24 · Stock-based pay to employees: $10.7BFY24 · Spent buying back shares: $17.3BFY24FY25 · Stock-based pay to employees: $12BFY25 · Spent buying back shares: $18.4BFY25FY26 · Stock-based pay to employees: $12.4BFY26 · Spent buying back shares: $22.3BFY26
Show the numbers
Stock-based pay to employeesSpent buying back shares
FY20$5.29B$23B
FY21$6.12B$27.4B
FY23$9.61B$22.2B
FY24$10.7B$17.3B
FY25$12B$18.4B
FY26$12.4B$22.3B

If buybacks are smaller than stock pay, the buyback isn't shrinking the share count; it's soaking up shares handed to employees.

Backlog (remaining performance obligations) contracts signed but not yet booked as revenue
Q4 23: $229BQ1 24: $242BQ1 24Q2 24: $275BQ3 24: $266BQ3 24Q4 24: $304BQ1 25: $321BQ1 25Q2 25: $375BQ3 25: $398BQ3 25Q4 25: $631BQ1 26: $633BQ1 26Q2 26: $684BQ3 26: $683BQ3 26$683B
Show the numbers
Backlog (remaining performance obligations)
Q4 23$229B
Q1 24$242B
Q2 24$275B
Q3 24$266B
Q4 24$304B
Q1 25$321B
Q2 25$375B
Q3 25$398B
Q4 25$631B
Q1 26$633B
Q2 26$684B
Q3 26$683B

Compare MSFT with other stocks →

From the company's own SEC filings via SEC EDGAR, latest period ended Sep 30, 2026. Numbers can be restated later. Not investment advice.

Dilution

Shares outstanding
Jan 2023: 7.4BApr 2023: 7.4BApr 2023Jul 2023: 7.4BOct 2023: 7.4BOct 2023Jan 2024: 7.4BApr 2024: 7.4BApr 2024Jul 2024: 7.4BOct 2024: 7.4BOct 2024Jan 2025: 7.4BApr 2025: 7.4BApr 2025Jul 2025: 7.4BOct 2025: 7.4BOct 2025Jan 2026: 7.4BApr 2026: 7.4BApr 2026Jul 2026: 7.4BOct 2026: 7.4BOct 20267.4B
Show the numbers
Shares outstanding
Jan 20237.4B
Apr 20237.4B
Jul 20237.4B
Oct 20237.4B
Jan 20247.4B
Apr 20247.4B
Jul 20247.4B
Oct 20247.4B
Jan 20257.4B
Apr 20257.4B
Jul 20257.4B
Oct 20257.4B
Jan 20267.4B
Apr 20267.4B
Jul 20267.4B
Oct 20267.4B

The share count is down -0.1% over the past year. What dilution means.

Insider trades

Insider buys, 12 months1$1.99M
Insider sales, 12 months26$98.6M, 17 planned in advance

Bought or sold on the open market

DateWhoWhatSharesValueFiling
Oct 13, 2026Amy Hood
EVP, Chief Financial Officer		Sold on the market (planned)
3 trades that day		7.3K$3.98MForm 4
Sep 14, 2026Amy Hood
EVP, Chief Financial Officer		Sold on the market (planned)
6 trades that day		41.7K$20.8MForm 4
Sep 1, 2026Satya Nadella
Chief Executive Officer, Director		Sold on the market (planned)
8 trades that day		86.5K$43.4MForm 4
Aug 5, 2026Judson Althoff
CEO Microsoft Commercial		Sold on the market10K$4.88MForm 4
Aug 4, 2026Takeshi Numoto
EVP, Chief Marketing Officer		Sold on the market4.8K$2.39MForm 4
Jun 10, 2026Takeshi Numoto
EVP, Chief Marketing Officer		Sold on the market4.5K$1.81MForm 4
Jun 8, 2026Takeshi Numoto
EVP, Chief Marketing Officer		Sold on the market2.5K$1.03MForm 4
Jun 1, 2026Judson Althoff
CEO Microsoft Commercial		Sold on the market15.5K$7.15MForm 4
May 14, 2026Amy Coleman
EVP, Chief Human Resources Off		Sold on the market1.3K$519KForm 4
Mar 6, 2026Kathleen T Hogan
EVP, Strategy		Sold on the market12.3K$5.05MForm 4
Feb 18, 2026John W Stanton
Director		Bought on the market5K$1.99MForm 4
Dec 4, 2025Takeshi Numoto
EVP, Chief Marketing Officer		Sold on the market2.9K$1.36MForm 4
Dec 2, 2025Judson Althoff
CEO Microsoft Commercial		Sold on the market12.8K$6.27MForm 4
May 5, 2025Bradford L Smith
Vice Chair and President		Sold on the market3.8K$1.67MForm 4
Apr 30, 2025Bradford L Smith
Vice Chair and President		Sold on the market30$11.7KForm 4
Everything else: grants, option exercises, tax withholding (63)
DateWhoWhatSharesValueFiling
Oct 15, 2026Amy Coleman
EVP, Chief Human Resources Off		Shares withheld for taxes32$17KForm 4
Sep 15, 2026Bradford L Smith
Vice Chair and President		Grant or award29.1Kn/aForm 4
Sep 15, 2026Takeshi Numoto
EVP, Chief Marketing Officer		Grant or award11.6Kn/aForm 4
Sep 15, 2026Amy Hood
EVP & Chief Financial Officer		Grant or award29.1Kn/aForm 4
Sep 15, 2026Amy Coleman
EVP, Chief Human Resources Off		Grant or award6.5Kn/aForm 4
Sep 15, 2026Judson Althoff
EVP, Chief Commercial Officer		Grant or award29.1Kn/aForm 4
Sep 15, 2026Alice L. Jolla
Chief Accounting Officer		Shares withheld for taxes123$62.1KForm 4
Sep 15, 2026Amy Coleman
EVP, Chief Human Resources Off		Shares withheld for taxes36$18.2KForm 4
Sep 9, 2026Bradford L Smith
Vice Chair and President		Gift14Kn/aForm 4
Sep 5, 2026John W Stanton
Director		Grant or award125n/aForm 4
Sep 5, 2026Charles W Scharf
Director		Grant or award125n/aForm 4
Sep 5, 2026Teri List
Director		Grant or award125n/aForm 4
Aug 31, 2026Bradford L Smith
Vice Chair and President		Grant or award27.7Kn/aForm 4
Aug 31, 2026Bradford L Smith
Vice Chair and President		Shares withheld for taxes17K$8.75MForm 4
Aug 31, 2026Takeshi Numoto
EVP, Chief Marketing Officer		Grant or award12.7Kn/aForm 4
Aug 31, 2026Takeshi Numoto
EVP, Chief Marketing Officer		Shares withheld for taxes7.5K$3.86MForm 4
Aug 31, 2026Satya Nadella
Chief Executive Officer, Director		Grant or award179Kn/aForm 4
Aug 31, 2026Satya Nadella
Chief Executive Officer, Director		Shares withheld for taxes70.5K$36.2MForm 4
Aug 31, 2026Alice L. Jolla
Chief Accounting Officer		Grant or award5.6Kn/aForm 4
Aug 31, 2026Alice L. Jolla
Chief Accounting Officer		Shares withheld for taxes486$249KForm 4
Aug 31, 2026Amy Hood
EVP, Chief Financial Officer		Grant or award31.3Kn/aForm 4
Aug 31, 2026Amy Hood
EVP, Chief Financial Officer		Shares withheld for taxes18.7K$9.62MForm 4
Aug 31, 2026Amy Coleman
EVP, Chief Human Resources Off		Shares withheld for taxes836$429KForm 4
Aug 31, 2026Judson Althoff
EVP, Chief Commercial Officer		Grant or award29.7Kn/aForm 4
Aug 31, 2026Judson Althoff
EVP, Chief Commercial Officer		Shares withheld for taxes18.1K$9.28MForm 4
Aug 17, 2026Amy Coleman
EVP, Chief Human Resources Off		Shares withheld for taxes89$44.1KForm 4
Jul 15, 2026Amy Coleman
EVP, Chief Human Resources Off		Shares withheld for taxes32$12.4KForm 4
Jun 15, 2026Alice L. Jolla
Chief Accounting Officer		Grant or award5Kn/aForm 4
Jun 15, 2026Amy Coleman
EVP, Chief Human Resources Off		Shares withheld for taxes36$14KForm 4
Jun 5, 2026Charles W Scharf
Director		Grant or award149n/aForm 4
Jun 5, 2026Teri List
Director		Grant or award149n/aForm 4
Jun 5, 2026John W Stanton
Director		Grant or award149n/aForm 4
Jun 5, 2026Sibio Carmine Di
Director		Grant or award15n/aForm 4
Jun 1, 2026Alice L. Jolla
Chief Accounting Officer		Shares withheld for taxes413$186KForm 4
Jun 1, 2026Amy Coleman
EVP, Chief Human Resources Off		Shares withheld for taxes434$195KForm 4
May 15, 2026Amy Coleman
EVP, Chief Human Resources Off		Shares withheld for taxes89$36.3KForm 4
Apr 15, 2026Amy Coleman
EVP, Chief Human Resources Off		Shares withheld for taxes1.4K$536KForm 4
Mar 16, 2026Amy Coleman
EVP, Chief Human Resources Off		Shares withheld for taxes31$12.3KForm 4
Mar 2, 2026Takeshi Numoto
EVP, Chief Marketing Officer		Shares withheld for taxes1.4K$531KForm 4
Mar 2, 2026Amy Hood
EVP, Chief Financial Officer		Shares withheld for taxes4.8K$1.88MForm 4

An insider buying with their own money is a stronger signal than a sale: people sell for taxes, houses and diversification. "Planned" sales were scheduled months ahead under a 10b5-1 plan. Source: SEC Form 4.

Famous investors who own it

InvestorQuarterSharesValueShare of fundChange
Bill Ackman (Pershing Square)Q2 266.2M$2.32B11.9%Added (+10%)
Philippe Laffont (Coatue Management)Q2 262.9M$1.10B2.3%Added (+18%)
Chase Coleman (Tiger Global Management)Q2 262.3M$846M3.5%Trimmed (-9%)
Terry Smith (Fundsmith)Q2 261.6M$596M4.4%Trimmed (-23%)
Brad Gerstner (Altimeter Capital Management)Q2 261.3M$473M4.8%Added (+7%)
Ray Dalio (founder) (Bridgewater Associates)Q2 26712K$266M1.1%Trimmed (-34%)
George Soros (Soros Fund Management)Q2 26190K$70.9M0.9%Trimmed (-10%)
Cathie Wood (ARK Investment Management)Q2 266.2K$2.30M<0.1%Trimmed (-3%)

From each fund's latest 13F, filed up to 45 days after the quarter ends, so it's old news by design. 13Fs only show US stock owned on the last day of the quarter: no short sales, and "added" or "trimmed" compares two snapshots, not actual trades. See what these funds bought and sold.

Failed trades

Failed trades (fails to deliver) shares that weren't delivered on time when a trade settled
Aug 10: 32.7KAug 11: 6.2KAug 12: 127Aug 13: 11Aug 13Aug 14: 114KAug 17: 12.6KAug 18: 77Aug 19: 9.6KAug 19Aug 20: 91KAug 21: 1.6KAug 24: 1.2KAug 25: 534Aug 25Aug 26: 1.2KAug 27: 2.6KAug 28: 41KAug 31: 23.8KAug 31Sep 1: 3.6KSep 2: 42.9KSep 3: 1.7KSep 4: 1KSep 4Sep 8: 8.9KSep 9: 4.4KSep 11: 93Sep 14: 6.7KSep 14Sep 15: 1.8KSep 18: 261Sep 21: 83.2KSep 22: 3.3KSep 22Sep 24: 100Sep 28: 13.5KSep 29: 478Oct 1: 1.4KOct 1Oct 2: 7KOct 5: 135KOct 6: 85Oct 7: 248Oct 7Oct 8: 100Oct 9: 1.1KOct 13: 413Oct 14: 118Oct 14118
Show the numbers
Failed trades (fails to deliver)
Aug 1032.7K
Aug 116.2K
Aug 12127
Aug 1311
Aug 14114K
Aug 1712.6K
Aug 1877
Aug 199.6K
Aug 2091K
Aug 211.6K
Aug 241.2K
Aug 25534
Aug 261.2K
Aug 272.6K
Aug 2841K
Aug 3123.8K
Sep 13.6K
Sep 242.9K
Sep 31.7K
Sep 41K
Sep 88.9K
Sep 94.4K
Sep 1193
Sep 146.7K
Sep 151.8K
Sep 18261
Sep 2183.2K
Sep 223.3K
Sep 24100
Sep 2813.5K
Sep 29478
Oct 11.4K
Oct 27K
Oct 5135K
Oct 685
Oct 7248
Oct 8100
Oct 91.1K
Oct 13413
Oct 14118

From the SEC's fails-to-deliver data, which runs two to four weeks behind. A spike can mean heavy short selling or just back-office delays; it isn't proof of anything on its own. Short interest isn't shown: FINRA's terms don't allow republishing it.

Share offerings

Selling new shares dilutes current owners. A "shelf" is permission to sell later; a 424B5 usually means a sale is actually happening.

What they told the SEC, in plain English

Every 8-K (the report a company files when something big happens) in the last two years. Red ones are worth a closer look: auditor changes, restatements, late reports, listing problems.

What changed in the latest annual report

Comparing the risk factors in the 10-K filed Jul 29, 2026 with the one filed Jul 30, 2025: 4 new and 2 removed, out of 28.

New this year

  • Our cloud and AI strategy requires substantial investments and depends on evolving customer demand, technological developments, competitive dynamics, and regulatory conditions, any of which could adversely affect our business, financial condition, and results of operations.
  • Our success depends on our ability to develop, deliver, and maintain competitive cloud-based and AI products and services that achieve broad customer adoption and sustainable revenue growth.
  • We may be unable to develop and expand adequate infrastructure.
  • We may experience outages, disruptions, or capacity constraints if we fail to maintain and operate adequate infrastructure or secure the resources necessary to support it.
Dropped from last year (2)
  • Our focus on cloud-based and AI services presents execution and competitive risks.
  • We may have excessive outages, data losses, and disruptions of our online services if we fail to maintain an adequate operations infrastructure.

Matched by each risk's headline, so a reworded risk can show up as new. This year's report · last year's.

Government contracts

$551M in federal contract money over the last 12 months, across 443 awards and changes.

DateAgencyWhat forAmount
Nov 25, 2025Defense Information Systems AgencyMICROSOFT CONSULTING SERVICES (MCS) AND UNIFIED SUPPORT FOR THE U.S. NAVY / PROGRAM EXECUTIVE OFFICE DIGITAL AND ENTERPRISE SERVICES (PEO) DIGITAL$32.9M
May 5, 2026Defense Information Systems AgencyMICROSOFT CONSULTING SERVICES AND UNIFIED SUPPORT FOR THE UNITED STATES MARINE CORPS (USMC)$20.9M
Mar 26, 2026Defense Information Systems AgencyMICROSOFT ENTERPRISE TECHNICAL SOLUTIONS SERVICES (METSS) MICROSOFT CONSULTING SERVICES (MCS) AND MICROSOFT UNIFIED SERVICES FOR PROGRAM EXECUTIVE OFFICE FOR C…$20.7M
May 22, 2026Defense Information Systems AgencyMICROSOFT CONSULTING SERVICES (MCS) AND UNIFIED SUPPORT FOR THE U.S. NAVY / PROGRAM EXECUTIVE OFFICE DIGITAL AND ENTERPRISE SERVICES (PEO) DIGITAL$19.8M
Jan 23, 2026Defense Logistics AgencyJOINT WARFIGHTING CLOUD CAPABILITY (JWCC) TASK ORDER FOR AZURE CLOUD HOSTING$17M
Mar 27, 2026Defense Information Systems AgencyMICROSOFT CONSULTING SERVICES AND UNIFIED SUPPORT FOR THE UNITED STATES MARINE CORPS (USMC)$15.4M
Sep 30, 2026Office of the Chief Financial OfficerADDITIONAL FUNDING FOR MICROSOFT PROFESSIONAL SERVICES AND GOV CLOUD CONSUMPTION.$14.3M
May 15, 2026Department of the ArmyTHE ENTERPRISE CLOUD MANAGEMENT AGENCY (ECMA) REQUIRES MICROSOFT AZURE CLOUD COMPUTING CAPABILITIES AT DEPARTMENT OF DEFENSE (DOD) IMPACT LEVEL (IL) 2, 4, 5, A…$13.8M
Jan 30, 2026Department of the ArmyTHE ENTERPRISE CLOUD MANAGEMENT AGENCY (ECMA) REQUIRES MICROSOFT AZURE CLOUD COMPUTING CAPABILITIES AT DEPARTMENT OF DEFENSE (DOD) IMPACT LEVEL (IL) 2, 4, 5, A…$11.6M
Jul 27, 2026Office of the Chief Financial OfficerADDITIONAL FUNDING FOR CLIN 001 CSP (FIRST PARTY) XAAS CLOUD SERVICES UNDER THE PAYG CONSUMPTION PRICING MODEL; CLIN 003 CSP (FIRST PARTY) XAAS CLOUD SERVICES…$10.9M

From USAspending.gov. Amounts are money the government committed, which can be cut later.

Search inside Microsoft's filings

Opens the SEC's own full-text search in a new tab, limited to MSFT. Every MSFT filing on EDGAR.