Microsoft Corporation Financial Ratios — MSFT Stock

Profitability (USD)

	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y	2026 Y
As of date	06/30/2012	06/30/2013	06/30/2014	06/30/2015	06/30/2016	06/30/2017	06/30/2018	06/30/2019	06/30/2020	06/30/2021	06/30/2022	06/30/2023	06/30/2024	06/30/2025	06/30/2026

Return on Common Equity (%)	27.51	30.09	26.17	14.36	27.01	31.92	19.45	42.41	40.14	47.08	47.15	38.82	37.13	33.28	34.04
Return on Assets (%)	14.77	16.58	14.02	7.03	11.16	11.49	6.51	14.39	15.06	19.3	20.82	18.63	19.07	18	19.42
Return on Capital (%)	23.44	25.7	21.79	11.16	17.88	17.97	10.36	24.13	25.11	31.72	34.07	29.94	30.09	28.07	30.16
Return on Invested Capital (%)	28.81	24.93	21.31	16.24	18.06	16.38	9.21	21.91	23.48	29.99	32.75	28.64	29.36	28.23	27.47
Gross Margin (%)	76.22	73.81	68.82	64.7	64.04	64.52	65.25	65.9	67.78	68.93	68.4	68.92	69.76	68.82	67.94
EBITDA Margin (%)	41.94	39.2	38.12	36.47	37.09	39.46	41.06	43.42	45.98	48.55	49.35	48.31	53.19	56.07	58.39
Operating Margin (%)	37.92	34.38	32.11	30.1	29.83	30.37	31.77	34.14	37.03	41.59	42.06	41.77	44.64	45.62	46.78
Incremental Operating Margin (%)	21.03	-28.89	12.49	4.24	40.56	39.56	41.53	51.03	58.23	67.63	44.62	37.67	62.97	52.17	53.3
Pretax Margin (%)	30.2	34.75	32.04	19.78	28.13	30.96	33.05	34.72	37.08	42.3	42.22	42.14	43.97	43.88	50
Profit Margin (%)	23.03	28.08	25.42	13.03	22.53	26.39	15.02	31.18	30.96	36.45	36.69	34.15	35.96	36.15	40.31
Net Income to Common Margin (%)	23.03	28.08	25.42	13.03	22.53	26.39	15.02	31.18	30.96	36.45	36.69	34.15	35.96	36.15	40.31
Effective Tax Rate (%)	23.75	19.18	20.65	34.12	19.89	14.76	54.57	10.18	16.51	13.83	13.11	18.98	18.23	17.63	19.4
Dvd Payout Ratio (%)	37.61	34.1	40.22	81.05	53.59	46.47	76.63	35.2	34.18	26.96	24.93	27.36	24.7	23.65	19.77
Sustainable Growth Rate (%)	17.16	19.83	15.64	2.72	12.54	17.09	4.54	27.48	26.42	34.38	35.4	28.2	27.96	25.41	27.31

Credit (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y	2026 Y
As of date	06/30/2012	06/30/2013	06/30/2014	06/30/2015	06/30/2016	06/30/2017	06/30/2018	06/30/2019	06/30/2020	06/30/2021	06/30/2022	06/30/2023	06/30/2024	06/30/2025	06/30/2026

Total Debt	11,944	15,600	22,645	35,292	53,461	91,566	81,808	78,366	70,998	67,775	61,270	59,965	67,127	60,588	56,826
ST Debt	1,231	2,999	2,000	7,484	12,904	10,121	3,998	5,516	3,749	8,072	2,749	5,247	8,942	2,999	9,227
LT Debt	10,713	12,601	20,645	27,808	40,557	81,445	77,810	72,850	67,249	59,703	58,521	54,718	58,185	57,589	47,599
Total Debt/EBITDA	0.39	0.51	0.68	1.03	1.58	2.4	1.81	1.43	1.08	0.83	0.63	0.59	0.51	0.38	0.29
Net Debt/EBITDA	0.16	0.39	0.42	0.87	1.39	2.06	1.42	1.11	0.76	0.54	0.37	0.12	0.26	0.08	0.1
Total Debt/EBIT	0.43	0.58	0.81	1.25	1.97	3.12	2.33	1.82	1.34	0.97	0.73	0.68	0.61	0.47	0.37
Net Debt/EBIT	0.18	0.44	0.5	1.05	1.73	2.68	1.83	1.42	0.94	0.63	0.43	0.14	0.3	0.1	0.12
EBITDA to Interest Expense	81.38	71.14	55.44	43.7	27.2	17.15	16.58	20.34	25.38	34.78	47.43	52.02	44.43	66.23	63.51
EBITDA-CapEx/Interest Expense	75.31	61.22	46.25	36.09	20.49	13.49	12.33	15.16	19.42	25.99	35.85	37.74	29.27	39.17	25.51
EBIT to Interest Expense	73.57	62.39	46.71	36.07	21.87	13.2	12.83	15.99	20.44	29.8	40.42	44.98	37.29	53.89	50.88
Interest Expense	380	429	597	781	1,243	2,222	2,733	2,686	2,591	2,346	2,063	1,968	2,935	2,385	3,051
Common Equity/Total Assets	54.72	55.43	52.08	45.9	37.21	35.04	31.96	35.71	39.26	42.54	45.65	50.06	52.42	55.49	58.33
Long-Term Debt/Equity (%)	16.14	15.96	22.99	34.72	56.33	92.86	94.07	71.19	56.84	42.05	35.14	26.53	21.67	16.77	10.76
Long-Term Debt/Capital (%)	13.68	13.33	18.36	24.1	32.33	45.43	47.29	40.32	35.52	28.46	25.69	20.56	17.34	14.25	9.53
Long-Term Debt/Total Assets (%)	8.83	8.85	11.98	15.94	20.96	32.54	30.06	25.42	22.32	17.89	16.04	13.28	11.36	9.3	6.28
Total Debt/Equity (%)	18	19.76	25.22	44.07	74.25	104.4	98.9	76.58	60.01	47.73	36.79	29.08	25	17.64	12.85
Total Debt/Capital (%)	15.25	16.5	20.14	30.59	42.61	51.08	49.72	43.37	37.51	32.31	26.89	22.53	20	14.99	11.38
Total Debt/Total Assets (%)	9.85	10.95	13.14	20.23	27.63	36.58	31.6	27.35	23.56	20.31	16.79	14.56	13.11	9.79	7.49
Net Debt to Equity	7.54	14.94	15.57	37.08	65.21	89.53	77.73	59.44	42.05	30.93	21.53	6.08	12.41	3.76	4.38
Net Debt/Capital (%)	7.01	13	13.47	27.05	39.47	45.76	42.14	35.92	28.31	22.46	16.76	5.41	10.5	3.45	4.05
EBITDA	30,923	30,519	33,098	34,129	33,810	38,109	45,319	54,641	65,755	81,602	97,843	102,384	130,391	157,961	193,771
EBITDA-CapEx	28,618	26,262	27,613	28,185	25,467	29,980	33,687	40,716	50,314	60,980	73,957	74,277	85,914	93,410	77,823
Operating Income (Loss)	27,956	26,764	27,886	28,172	27,188	29,331	35,058	42,959	52,959	69,916	83,383	88,523	109,433	128,528	155,237

Liquidity (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y	2026 Y
As of date	06/30/2012	06/30/2013	06/30/2014	06/30/2015	06/30/2016	06/30/2017	06/30/2018	06/30/2019	06/30/2020	06/30/2021	06/30/2022	06/30/2023	06/30/2024	06/30/2025	06/30/2026

Cash Ratio	1.93	2.06	1.88	1.94	1.91	2.39	2.29	1.93	1.89	1.47	1.1	1.07	0.6	0.67	0.45
Current Ratio	2.6	2.71	2.5	2.47	2.35	2.92	2.9	2.53	2.52	2.08	1.78	1.77	1.27	1.35	1.23
Quick Ratio	2.41	2.53	2.31	2.3	2.22	2.79	2.74	2.35	2.33	1.9	1.57	1.54	1.06	1.16	0.93
CFO/Avg Current Liab	1.03	0.82	0.78	0.62	0.61	0.69	0.77	0.82	0.86	0.95	0.97	0.88	1.03	1.02	1.18
Common Equity/Total Assets	54.72	55.43	52.08	45.9	37.21	35.04	31.96	35.71	39.26	42.54	45.65	50.06	52.42	55.49	58.33
Long-Term Debt/Equity (%)	16.14	15.96	22.99	34.72	56.33	92.86	94.07	71.19	56.84	42.05	35.14	26.53	21.67	16.77	10.76
Long-Term Debt/Capital (%)	13.68	13.33	18.36	24.1	32.33	45.43	47.29	40.32	35.52	28.46	25.69	20.56	17.34	14.25	9.53
Long-Term Debt/Total Assets (%)	8.83	8.85	11.98	15.94	20.96	32.54	30.06	25.42	22.32	17.89	16.04	13.28	11.36	9.3	6.28
Total Debt/Equity (%)	18	19.76	25.22	44.07	74.25	104.4	98.9	76.58	60.01	47.73	36.79	29.08	25	17.64	12.85
Total Debt/Capital (%)	15.25	16.5	20.14	30.59	42.61	51.08	49.72	43.37	37.51	32.31	26.89	22.53	20	14.99	11.38
Total Debt/Total Assets (%)	9.85	10.95	13.14	20.23	27.63	36.58	31.6	27.35	23.56	20.31	16.79	14.56	13.11	9.79	7.49
CFO/Total Liabilities	57.6	45.42	39.35	31.43	27.43	24.3	24.92	28.33	33.15	40.01	44.9	42.57	48.65	49.42	57.89
CFO/CapEx	13.72	6.77	5.93	4.99	3.99	4.86	3.77	3.75	3.93	3.72	3.73	3.12	2.67	2.11	1.58
Altman's Z-Score	4.98	4.78	4.46	4.13	3.61	3.65	4.34	5.15	7.04	8.52	8.18	9.67	10.62	10.36	7.44

Working Capital (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y	2026 Y
As of date	06/30/2012	06/30/2013	06/30/2014	06/30/2015	06/30/2016	06/30/2017	06/30/2018	06/30/2019	06/30/2020	06/30/2021	06/30/2022	06/30/2023	06/30/2024	06/30/2025	06/30/2026

Accounts Receivable Turnover	4.79	4.68	4.69	5	5.04	4.74	4.51	4.49	4.65	4.8	4.82	4.56	4.64	4.44	4.4
Days Sales Outstanding	76.16	77.98	77.83	73.04	72.45	76.93	80.88	81.22	78.52	76.06	75.76	80.05	78.63	82.16	82.92
Inventory Turnover	13.97	13.26	11.78	11.88	12.72	15.46	15.84	18.16	23.28	23.06	19.65	21.1	39.57	80.43	91.11
Days Inventory Outstanding	26.12	27.53	30.99	30.72	28.69	23.61	23.05	20.1	15.68	15.83	18.58	17.3	9.22	4.54	4.01
Accounts Payable Turnover	4.13	4.71	4.54	4.75	4.76	4.79	4.85	4.7	4.19	3.83	3.73	3.48	3.63	3.52	3.05
Accounts Payable Turnover Days	88.34	77.55	80.48	76.9	76.62	76.26	75.22	77.64	87.1	95.41	97.79	104.76	100.42	103.67	119.82
Cash Conversion Cycle	13.94	27.96	28.33	26.86	24.51	24.27	28.71	23.68	7.1	-3.51	-3.45	-7.42	-12.56	-16.98	-32.89
Inventory to Cash Days	50.04	50.46	46.84	42.31	43.76	53.32	57.84	61.12	62.85	60.23	57.18	62.75	69.41	77.62	78.92
Inventories	1,137	1,938	2,660	2,902	2,251	2,181	2,662	2,063	1,895	2,636	3,742	2,500	1,246	938	1,397
Raw Materials	210	328	944	1,100	612	797	655	399	700	1,190	1,144	709	394	- -	- -
Work In Process	96	201	266	202	158	145	54	53	83	79	82	23	7	- -	- -
Finished Goods	831	1,409	1,450	1,600	1,481	1,239	1,953	1,611	1,112	1,367	2,516	1,768	845	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	938	1,397

Enterprise Value (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y	2026 Y
As of date	06/30/2012	06/30/2013	06/30/2014	06/30/2015	06/30/2016	06/30/2017	06/30/2018	06/30/2019	06/30/2020	06/30/2021	06/30/2022	06/30/2023	06/30/2024	06/30/2025	06/30/2026

Market Capitalization	256,375	287,732	343,566	354,392	399,535	531,312	757,029	1,023,856	1,540,774	2,036,897	1,916,979	2,530,893	3,322,688	3,697,825	2,770,420
- Cash & Cash Equivalents	6,938	3,804	8,669	5,595	6,510	7,663	11,946	11,356	13,576	14,224	13,931	34,704	18,315	30,242	20,935
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	11,944	15,600	22,645	35,292	53,461	91,566	81,808	78,366	70,998	67,775	61,270	59,965	67,127	60,588	56,826
Enterprise Value	205,279	226,310	280,502	293,158	339,756	489,897	705,173	968,390	1,475,280	1,974,416	1,873,500	2,479,602	3,314,284	3,663,858	2,750,595
Total Capital	78,307	94,544	112,429	115,375	125,458	179,277	164,526	180,696	189,302	209,763	227,812	266,188	335,604	404,067	499,213
Total Debt/Capital (%)	15.25	16.5	20.14	30.59	42.61	51.08	49.72	43.37	37.51	32.31	26.89	22.53	20	14.99	11.38
Total Debt / EV	0.06	0.07	0.08	0.12	0.16	0.19	0.12	0.08	0.05	0.03	0.03	0.02	0.02	0.02	0.02
EV/Sales	2.78	2.91	3.23	3.13	3.73	5.07	6.39	7.7	10.32	11.75	9.45	11.7	13.52	13.01	8.29
EV/EBITDA	6.64	7.42	8.47	8.59	10.05	12.86	15.56	17.72	22.44	24.2	19.15	24.22	25.42	23.19	14.2
EV/EBIT	7.34	8.46	10.06	10.41	12.5	16.7	20.11	22.54	27.86	28.24	22.47	28.01	30.29	28.51	17.72
EV/Cash Flow to Firm	6.43	7.76	8.51	9.71	9.9	11.83	15.63	17.74	23.48	25.07	20.63	27.81	27.4	26.53	14.84
EV/Free Cash Flow to Firm	6	6.77	7.29	8.11	7.96	9.89	12.42	14.13	18.85	19.87	16.33	21.14	20.03	18.08	9.13
Diluted Market Cap	260,199	292,638	350,238	364,414	410,025	539,860	768,566	1,038,592	1,563,567	2,061,007	1,936,498	2,544,515	3,338,270	3,713,166	2,780,118
Diluted Enterprise Value	265,205	304,434	364,214	394,111	456,976	623,763	838,428	1,105,602	1,620,989	2,114,558	1,983,837	2,569,776	3,387,082	3,743,512	2,816,009
EV per Share	24.49	27.17	34.05	36.52	43.51	63.56	91.86	126.7	194.86	262.59	251	333.64	445.82	492.84	370.35
TTM Sales	73,723	77,849	86,833	93,580	91,154	96,571	110,360	125,843	143,015	168,088	198,270	211,915	245,122	281,724	331,839
TTM EBITDA	30,923	30,519	33,098	34,129	33,810	38,109	45,319	54,641	65,755	81,602	97,843	102,384	130,391	157,961	193,771
TTM Operating Income	27,956	26,764	27,886	28,172	27,188	29,331	35,058	42,959	52,959	69,916	83,383	88,523	109,433	128,528	155,237
TTM Cash Flow to Firm	31,916	29,180	32,976	30,183	34,321	41,401	45,126	54,598	62,838	78,762	90,827	89,177	120,948	138,127	185,394
TTM Free Cash Flow to Firm	34,221	33,437	38,461	36,127	42,664	49,530	56,758	68,523	78,279	99,384	114,713	117,284	165,425	202,678	301,342

Multiples (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y	2026 Y
As of date	06/30/2012	06/30/2013	06/30/2014	06/30/2015	06/30/2016	06/30/2017	06/30/2018	06/30/2019	06/30/2020	06/30/2021	06/30/2022	06/30/2023	06/30/2024	06/30/2025	06/30/2026

Price/Free Cash Flow	7.67	8.84	9.22	10.23	9.84	11.33	13.84	15.71	20.54	21.17	17.15	21.99	20.48	18.5	9.3
EV/EBIT	7.34	8.46	10.06	10.41	12.5	16.7	20.11	22.54	27.86	28.24	22.47	28.01	30.29	28.51	17.72
Enterprise Value	205,279	226,310	280,502	293,158	339,756	489,897	705,173	968,390	1,475,280	1,974,416	1,873,500	2,479,602	3,314,284	3,663,858	2,750,595
Low Price	23.79	26.26	30.84	40.12	39.72	50.39	68.02	93.96	130.78	196.25	241.51	213.43	309.45	344.79	349.2
EV/Sales	2.78	2.91	3.23	3.13	3.73	5.07	6.39	7.7	10.32	11.75	9.45	11.7	13.52	13.01	8.29
EV/EBITDA	6.64	7.42	8.47	8.59	10.05	12.86	15.56	17.72	22.44	24.2	19.15	24.22	25.42	23.19	14.2
Price/Earnings	15.13	13.23	15.68	29.61	19.74	20.95	45.82	26.19	34.97	33.37	26.47	35.04	37.68	36.31	20.72
Price/Earnings Average	13.98	11.38	13.83	30.31	19.47	18.93	39.9	22.08	27.06	28.04	30.61	27.58	31.88	30.95	25.52
Price/Earnings High	16.29	13.71	15.9	33.57	21.94	22.15	47.72	27.06	35.13	33.46	36.04	36.17	38.46	36.55	30.85
Price/Earnings Low	11.76	10.06	11.59	26.91	15.33	15.31	31.61	18.37	22.48	24.17	24.89	21.96	26.09	25.17	19.4
Price/Book Value	3.86	3.64	3.83	4.43	5.55	6.06	9.15	10.01	13.02	14.35	11.51	12.27	12.38	10.77	6.26
Price/Book Value Average	3.57	3.13	3.38	4.53	5.47	5.48	7.97	8.43	10.08	12.06	13.31	9.66	10.47	9.18	7.71
Price/Book Value High	4.16	3.77	3.88	5.02	6.17	6.41	9.53	10.34	13.08	14.39	15.67	12.67	12.63	10.84	9.33
Price/Book Value Low	3	2.77	2.83	4.02	4.31	4.43	6.31	7.02	8.37	10.39	10.82	7.69	8.57	7.46	5.86
Price/Tangible Book Value	5.15	4.7	5.48	6.08	7.93	12.51	19.42	19.48	22.69	24.11	21.85	19.62	27.31	18.36	9.11
Price/Tangible Book Value Average	4.76	4.04	4.84	6.22	7.82	11.3	16.91	16.42	17.55	20.26	25.27	15.44	23.11	15.65	11.22
Price/Tangible Book Value High	5.55	4.87	5.56	6.89	8.81	13.22	20.22	20.13	22.79	24.18	29.75	20.25	27.87	18.49	13.56
Price/Tangible Book Value Low	4.01	3.57	4.05	5.52	6.15	9.14	13.4	13.66	14.58	17.47	20.55	12.3	18.91	12.73	8.53
Price/Sales	3.48	3.72	3.99	3.86	4.45	5.53	6.88	8.17	10.83	12.16	9.71	11.97	13.55	13.12	8.35
Price/Sales Average	3.22	3.2	3.52	3.95	4.39	5	5.99	6.89	8.38	10.22	11.23	9.42	11.46	11.19	10.29
Price/Sales High	3.75	3.85	4.04	4.37	4.94	5.85	7.16	8.44	10.88	12.2	13.22	12.35	13.83	13.21	12.44
Price/Sales Low	2.71	2.83	2.95	3.51	3.45	4.04	4.75	5.73	6.96	8.81	9.13	7.5	9.38	9.1	7.82
Price/Cash Flow	8.12	10.04	10.65	12.17	12.17	13.51	17.3	19.7	25.52	26.64	21.62	28.95	28.02	27.15	15.15
Price/Cash Flow Average	7.51	8.63	9.39	12.46	12	12.22	15.07	16.6	19.75	22.39	25.01	22.78	23.7	23.15	18.66
Price/Cash Flow High	8.75	10.39	10.8	13.79	13.52	14.29	18.02	20.35	25.64	26.72	29.44	29.88	28.59	27.34	22.56
Price/Cash Flow Low	6.32	7.63	7.87	11.06	9.45	9.88	11.93	13.82	16.4	19.3	20.33	18.15	19.4	18.82	14.18
Price/Free Cash Flow Average	7.09	7.61	8.13	10.48	9.7	10.24	12.05	13.24	15.89	17.79	19.83	17.31	17.33	15.77	11.46
Price/Free Cash Flow High	8.26	9.16	9.35	11.6	10.93	11.98	14.42	16.23	20.63	21.23	23.35	22.7	20.9	18.62	13.85
Price/Free Cash Flow Low	5.96	6.72	6.82	9.3	7.64	8.28	9.55	11.02	13.2	15.34	16.13	13.78	14.18	12.82	8.71
EV/Sales Average	3.28	3.33	3.65	4.19	4.84	5.84	6.61	7.39	8.74	10.5	11.42	9.52	11.67	11.3	10.39
EV/Sales High	3.81	3.98	4.17	4.61	5.38	6.69	7.78	8.94	11.22	12.47	13.4	12.45	14.03	13.32	12.54
EV/Sales Low	2.77	2.96	3.09	3.76	3.92	4.89	5.36	6.24	7.32	9.1	9.33	7.6	9.58	9.21	7.92
EV/EBITDA Average	7.83	8.5	9.58	11.5	13.04	14.8	16.09	17.02	19	21.63	23.14	19.7	21.94	20.15	17.8
EV/EBITDA High	9.09	10.15	10.95	12.64	14.52	16.94	18.94	20.59	24.41	25.69	27.16	25.76	26.38	23.76	21.47
EV/EBITDA Low	6.61	7.55	8.1	10.31	10.56	12.39	13.06	14.37	15.93	18.74	18.91	15.74	18.02	16.42	13.57
EV/EBIT Average	8.66	9.69	11.37	13.93	16.22	19.23	20.79	21.65	23.59	25.25	27.16	22.78	26.14	24.76	22.21
EV/EBIT High	10.06	11.57	13	15.31	18.05	22.02	24.48	26.18	30.31	29.98	31.87	29.79	31.44	29.2	26.81
EV/EBIT Low	7.31	8.61	9.61	12.49	13.13	16.1	16.89	18.28	19.78	21.87	22.19	18.2	21.47	20.18	16.94
Last Price	30.59	34.55	41.7	44.15	51.17	68.93	98.61	133.96	203.51	270.9	256.83	340.54	446.95	497.41	373.02
High Price	32.95	35.78	42.29	50.05	56.85	72.89	102.69	138.4	204.4	271.65	349.67	351.47	456.17	500.76	555.45
Enterprise Value Average	241,983	259,281	317,036	392,479	440,906	564,126	729,018	930,108	1,249,472	1,765,332	2,264,331	2,016,933	2,860,158	3,182,596	3,448,481
Enterprise Value High	281,160	309,772	362,403	431,448	490,836	645,739	858,213	1,124,801	1,604,934	2,096,087	2,657,276	2,637,386	3,440,043	3,753,075	4,161,218
Enterprise Value Low	204,390	230,489	268,067	351,740	357,085	472,309	592,052	785,146	1,047,557	1,529,155	1,849,970	1,611,473	2,349,306	2,593,570	2,629,399

Shares Outstanding	8,381	8,328	8,239	8,027	7,808	7,708	7,677	7,643	7,571	7,519	7,464	7,432	7,434	7,434	7,427
Diluted Weighted Avg Shares	8,506	8,470	8,399	8,254	8,013	7,832	7,794	7,753	7,683	7,608	7,540	7,472	7,469	7,465	7,453
Basic Weighted Avg Shares	8,396	8,375	8,299	8,177	7,925	7,746	7,700	7,673	7,610	7,547	7,496	7,446	7,431	7,433	7,429
Revenue per Share	8.78	9.3	10.46	11.44	11.5	12.47	14.33	16.4	18.79	22.27	26.45	28.46	32.99	37.9	44.67
EBITDA per Share	3.68	3.64	3.99	4.17	4.27	4.92	5.89	7.12	8.64	10.81	13.05	13.75	17.55	21.25	26.08
Operating Income per Share	3.33	3.2	3.36	3.45	3.43	3.79	4.55	5.6	6.96	9.26	11.12	11.89	14.73	17.29	20.9
Basic EPS, GAAP	2.02	2.61	2.66	1.49	2.59	3.29	2.15	5.11	5.82	8.12	9.7	9.72	11.86	13.7	18
Basic EPS from Cont Ops	2.02	2.61	2.66	1.49	2.59	3.29	2.15	5.11	5.82	8.12	9.7	9.72	11.86	13.7	18
Diluted EPS, GAAP	2	2.58	2.63	1.48	2.56	3.25	2.13	5.06	5.76	8.05	9.65	9.68	11.8	13.64	17.95
Diluted EPS from Cont Ops	2	2.58	2.63	1.48	2.56	3.25	2.13	5.06	5.76	8.05	9.65	9.68	11.8	13.64	17.95
Dividend per Share	0.76	0.89	1.07	1.21	1.39	1.53	1.65	1.8	1.99	2.19	2.42	2.66	2.93	3.24	3.56
Cash Flow per Share	3.77	3.44	3.92	3.63	4.21	5.1	5.7	6.8	7.97	10.17	11.88	11.76	15.95	18.32	24.62
Free Cash Flow per Basic Share	3.49	2.93	3.26	2.9	3.15	4.05	4.19	4.99	5.94	7.44	8.69	7.99	9.97	9.63	9.02
Cash & Equivalents per Share	7.52	9.25	10.4	12.03	14.5	17.25	17.41	17.51	18.03	17.32	14.03	14.97	10.16	12.72	10.32
Book Value per Share	7.92	9.48	10.9	9.98	9.22	11.38	10.77	13.39	15.63	18.88	22.31	27.75	36.11	46.2	59.56
Tangible Book Value per Share	5.93	7.35	7.61	7.26	6.45	5.51	5.08	6.88	8.97	11.24	11.75	17.35	16.37	27.09	40.95

Microsoft Corporation

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)