Financials Microsoft Corporation

Equities

MSFT

US5949181045

Software

Real-time Estimate Cboe BZX Other stock markets 12:04:21 2024-09-17 pm EDT			5-day change	1st Jan Change
435.46 ^USD	+0.95%		+5.05%	+15.71%

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Projected Income Statement: Microsoft Corporation

Fiscal Period: Juni	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	143,015	168,088	198,270	211,915	245,122	279,037	319,386	367,528
Change	-	17.53%	17.96%	6.88%	15.67%	13.84%	14.46%	15.07%
EBITDA ¹	65,755	81,602	97,843	103,555	131,720	147,716	171,076	199,761
Change	-	24.1%	19.9%	5.84%	27.2%	12.14%	15.81%	16.77%
EBIT ¹	52,959	69,916	83,383	89,694	109,433	122,555	140,959	164,869
Change	-	32.02%	19.26%	7.57%	22.01%	11.99%	15.02%	16.96%
Interest Paid ¹	77	1,186	333	788	-1,646	-2,633	-2,760	-
Earnings before Tax (EBT) ¹	53,036	71,102	83,716	89,311	107,787	121,060	139,820	163,209
Change	-	34.06%	17.74%	6.68%	20.69%	12.31%	15.5%	16.73%
Net income ¹	44,281	61,271	72,738	72,361	88,136	98,344	113,732	133,217
Change	-	38.37%	18.72%	-0.52%	21.8%	11.58%	15.65%	17.13%
Announcement Date	7/22/20	7/27/21	7/26/22	7/25/23	7/30/24	-	-	-

¹USD in Million

Estimates

Fiscal Period: June	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	33,055	36,906	35,021	38,033	37,154	43,076	41,706	46,152	45,317	51,728	49,360	51,865	50,122	52,747	52,857	56,189	56,517	62,020	61,858	64,727	64,532	69,793	70,113	73,771	73,638	79,129	79,540	83,795
Change	-	11.65%	-5.11%	8.6%	-2.31%	15.94%	-3.18%	10.66%	-1.81%	14.15%	-4.58%	5.07%	-3.36%	5.24%	0.21%	6.3%	0.58%	9.74%	-0.26%	4.64%	-0.3%	8.15%	0.46%	5.22%	-0.18%	7.46%	0.52%	5.35%
EBITDA ¹	15,657	17,094	16,093	16,911	18,521	20,658	19,984	22,439	23,450	25,743	24,137	24,513	24,308	25,218	25,901	28,128	30,816	32,991	33,608	34,305	35,119	36,281	37,123	38,238	40,589	42,319	42,759	44,246
Change	-	9.18%	-5.86%	5.08%	9.52%	11.54%	-3.26%	12.28%	4.51%	9.78%	-6.24%	1.56%	-0.84%	3.74%	2.71%	8.6%	9.56%	7.06%	1.87%	2.07%	2.37%	3.31%	2.32%	3%	6.15%	4.26%	1.04%	3.48%
EBIT ¹	12,686	13,891	12,975	13,407	15,876	17,897	17,048	19,095	20,238	22,247	20,364	20,534	21,518	21,570	22,352	24,254	26,895	27,032	27,581	27,925	29,167	30,246	30,562	31,817	32,877	34,352	34,804	36,762
Change	-	9.5%	-6.59%	3.33%	18.42%	12.73%	-4.74%	12.01%	5.99%	9.93%	-8.46%	0.83%	4.79%	0.24%	3.63%	8.51%	10.89%	0.51%	2.03%	1.25%	4.45%	3.7%	1.05%	4.11%	3.33%	4.49%	1.32%	5.63%
Charge d'intérêts ¹	-	-	-132	15	248	440	188	-	-	-	-	-47	54	-	321	473	389	-506	-854	-675	-650	-650	-650	-650	-616.7	-633.3	-666.7	-683.3
Earnings before Tax (EBT) ¹	12,686	14,085	12,843	13,422	16,124	18,337	17,236	19,405	20,524	22,515	20,190	20,487	21,572	20,339	22,673	24,727	27,284	26,526	26,727	27,250	28,488	29,692	30,051	31,370	32,381	33,862	34,386	36,287
Change	-	11.03%	-8.82%	4.51%	20.13%	13.72%	-6%	12.58%	5.77%	9.7%	-10.33%	1.47%	5.3%	-5.72%	11.48%	9.06%	10.34%	-2.78%	0.76%	1.96%	4.54%	4.23%	1.21%	4.39%	3.22%	4.57%	1.55%	5.53%
Net income ¹	10,678	11,649	10,752	11,202	13,893	15,463	15,457	16,458	20,505	18,765	16,728	16,740	17,556	16,425	18,299	20,081	22,291	21,870	21,939	22,036	23,136	24,108	24,422	25,443	26,279	27,455	27,868	29,356
Change	-	9.09%	-7.7%	4.19%	24.02%	11.3%	-0.04%	6.48%	24.59%	-8.49%	-10.86%	0.07%	4.87%	-6.44%	11.41%	9.74%	11.01%	-1.89%	0.32%	0.44%	4.99%	4.2%	1.3%	4.18%	3.28%	4.47%	1.5%	5.34%
Announcement Date	10/23/19	1/29/20	4/29/20	7/22/20	10/27/20	1/26/21	4/27/21	7/27/21	10/26/21	1/25/22	4/26/22	7/26/22	10/25/22	1/24/23	4/25/23	7/25/23	10/24/23	1/30/24	4/25/24	7/30/24	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Microsoft Corporation

Fiscal Period: June	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	-73,200	-72,188	-54,976	-64,025	-30,606	-61,601	-120,994	-211,191
Change	-	-198.62%	-176.16%	-216.46%	-147.8%	-301.27%	-296.42%	-274.55%
Announcement Date	7/22/20	7/27/21	7/26/22	7/25/23	7/30/24	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Microsoft Corporation

Fiscal Period: June	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	15,441	20,622	23,886	28,107	44,477	57,355	61,920	67,156
Change	-	33.55%	15.83%	17.67%	58.24%	28.95%	7.96%	8.45%
Free Cash Flow (FCF) ¹	45,234	56,118	65,149	59,475	74,071	77,047	91,939	116,237
Change	-	24.06%	16.09%	-8.71%	24.54%	4.02%	19.33%	26.43%
Announcement Date	7/22/20	7/27/21	7/26/22	7/25/23	7/30/24	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Microsoft Corporation

Fiscal Period: June	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	45.98%	48.55%	49.35%	48.87%	53.74%	52.94%	53.56%	54.35%
EBIT Margin (%)	37.03%	41.59%	42.06%	42.33%	44.64%	43.92%	44.13%	44.86%
EBT Margin (%)	37.08%	42.3%	42.22%	42.14%	43.97%	43.39%	43.78%	44.41%
Net margin (%)	30.96%	36.45%	36.69%	34.15%	35.96%	35.24%	35.61%	36.25%
FCF margin (%)	31.63%	33.39%	32.86%	28.07%	30.22%	27.61%	28.79%	31.63%
FCF / Net Income (%)	102.15%	91.59%	89.57%	82.19%	84.04%	78.34%	80.84%	87.25%
Profitability
ROA	15.06%	19.3%	20.82%	35.12%	19.07%	17.91%	17.69%	18.2%
ROE	40.14%	47.08%	47.15%	38.82%	37.13%	31.71%	29.13%	27.83%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	10.8%	12.27%	12.05%	13.26%	18.14%	20.55%	19.39%	18.27%
CAPEX / EBITDA (%)	23.48%	25.27%	24.41%	27.14%	33.77%	38.83%	36.19%	33.62%
CAPEX / FCF (%)	34.14%	36.75%	36.66%	47.26%	60.05%	74.44%	67.35%	57.77%
Items per share
Cash flow per share ¹	7.897	10.09	11.81	11.72	15.87	19.43	23.54	35.36
Change	-	27.72%	17.07%	-0.74%	35.41%	22.41%	21.18%	50.19%
Dividend per Share ¹	2.04	2.24	2.48	2.72	3	3.234	3.607	4.019
Change	-	9.8%	10.71%	9.68%	10.29%	7.81%	11.53%	11.43%
Book Value Per Share ¹	15.63	18.88	22.31	27.75	36.11	47.5	61.05	75.59
Change	-	20.85%	18.16%	24.36%	30.15%	31.52%	28.54%	23.81%
EPS ¹	5.76	8.05	9.65	9.68	11.8	13.2	15.33	18.05
Change	-	39.76%	19.88%	0.31%	21.9%	11.87%	16.14%	17.7%
Nbr of stocks (in thousands)	7,583,440	7,531,575	7,479,033	7,435,488	7,432,306	7,433,038	7,433,038	7,433,038
Announcement Date	7/22/20	7/27/21	7/26/22	7/25/23	7/30/24	-	-	-