Company Valuation: Microsoft Corporation

Data adjusted to current consolidation scope
Fiscal Period: June 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 1,920,840 2,532,081 3,321,869 3,697,022 2,770,955 3,720,347 - -
Change - 31.82% 31.19% 11.29% -25.05% 34.26% - -
Enterprise Value (EV) 1 1,865,864 2,468,056 3,291,263 3,645,608 2,734,406 3,673,881 3,671,857 3,819,916
Change - 32.27% 33.35% 10.77% -24.99% 34.36% -0.06% 4.03%
P/E 26.6x 35.2x 37.9x 36.5x 20.8x 25.4x 21.3x 17.4x
PBR 11.5x 12.3x 12.4x 10.8x 6.26x 6.52x 5.09x 3.97x
PEG - 113.23x 1.7x 2.3x 0.7x 2.62x 1.1x 0.8x
Capitalization / Revenue 9.69x 11.9x 13.6x 13.1x 8.35x 9.51x 7.96x 6.56x
EV / Revenue 9.41x 11.6x 13.4x 12.9x 8.24x 9.39x 7.86x 6.73x
EV / EBITDA 19.1x 23.8x 25x 22.4x 13.8x 15.3x 12.4x 10.3x
EV / EBIT 22.4x 27.5x 30.1x 28.4x 17.6x 20.2x 16.9x 14.6x
EV / FCF 28.6x 41.5x 44.4x 50.9x 40.8x 114x 80.7x 43.6x
FCF Yield 3.49% 2.41% 2.25% 1.96% 2.45% 0.88% 1.24% 2.29%
Dividend per Share 2 2.48 2.72 3 3.32 3.64 3.898 4.26 4.421
Rate of return 0.97% 0.8% 0.67% 0.67% 0.98% 0.78% 0.85% 0.88%
EPS 2 9.65 9.68 11.8 13.64 17.95 19.69 23.57 28.76
Distribution rate 25.7% 28.1% 25.4% 24.3% 20.3% 19.8% 18.1% 15.4%
Net sales 1 198,270 211,915 245,122 281,724 331,839 391,083 467,327 567,246
EBITDA 1 97,843 103,555 131,720 162,681 198,685 239,933 295,379 369,739
EBIT 1 83,383 89,694 109,433 128,528 155,237 182,162 216,837 262,387
Net income 1 72,738 72,361 88,136 101,832 133,749 146,938 175,848 212,963
Net Debt 1 -54,976 -64,025 -30,606 -51,414 -36,549 -46,466 -48,490 99,570
Reference price 2 256.83 340.54 446.95 497.41 373.02 501.02 501.02 501.02
Nbr of stocks (in thousands) 7,479,033 7,435,488 7,432,306 7,432,544 7,428,435 7,425,545 - -
Announcement Date 7/26/22 7/25/23 7/30/24 7/30/25 7/29/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
25.45x9.39x15.31x0.78% 3,720B
118.78x51.33x83.32x-.--% 432B
65.14x13.75x29.01x-.--% 86.21B
396.8x16.97x67.09x-.--% 80.38B
104.43x8.87x22.49x-.--% 79.49B
38x1.9x15.17x-.--% 69B
189.02x6.03x23.28x-.--% 47.34B
113.05x4.64x22.56x-.--% 40.51B
26.61x5.48x26.32x-.--% 35.11B
Average 119.70x 13.15x 33.84x 0.09% 510.08B
Weighted average by Cap. 45.51x 13.33x 23.23x 0.63%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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