Microsoft Corporation

NasdaqGS-MSFT

Operating Activities	LTM	Jun '25	Jun '24	Jun '23	Jun '22	Jun '21	Jun '20	Jun '19	Jun '18	Jun '17	Jun '16
Net Income	104,912	101,832	88,136	72,361	72,738	61,271	44,281	39,240	16,571	25,489	20,539
Net Income
Depreciation & Amortization	39,831	34,153	22,287	13,861	14,460	11,686	12,796	11,682	10,261	8,778	6,622
Depreciation, Amortization, and Other
Share-Based Compensation Expense	12,125	11,974	10,734	9,611	7,502	6,118	5,289	4,652	3,940	3,266	2,668
Stock-Based Compensation Expense
Other Adjustments	-3,405	-6,447	-4,433	-5,863	-6,111	-1,399	-208	-7,255	-7,355	-2,902	2,886
Goodwill and Asset Impairments
Net Recognized Gains on Investments and Derivatives
Excess Tax Benefits from Stock-Based Compensation
Deferred Income Taxes
Changes in Trade Receivables	-8,128	-10,581	-7,191	-4,087	-6,834	-6,481	-2,577	-2,812	-3,862	-1,216	562
Accounts Receivable
Changes in Inventories	490	309	1,284	1,242	-1,123	-737	168	597	-465	50	600
Inventories
Changes in Accounts Payable	871	569	3,545	-2,721	2,943	2,798	3,018	232	1,148	81	88
Accounts Payable
Changes in Income Taxes Payable	-3,998	-38	1,687	-358	696	-2,309	-3,631	2,929	18,183	1,792	-298
Income Taxes
Changes in Unearned Revenue	5,573	5,438	5,348	5,535	5,109	4,633	2,212	4,462	5,922	3,820	2,565
Deferral of Unearned Revenue
Recognition of Unearned Revenue
Unearned Revenue
Changes in Other Operating Activities	-1,232	-1,047	-2,849	-1,999	-345	1,160	-673	-1,542	-459	349	-2,907
Other Current Assets
Other Long-Term Assets
Other Current Liabilities
Other Long-Term Liabilities
Cash from Operating Activities	147,039	136,162	118,548	87,582	89,035	76,740	60,675	52,185	43,884	39,507	33,325
Net Cash from Operations

Investing Activities	LTM	Jun '25	Jun '24	Jun '23	Jun '22	Jun '21	Jun '20	Jun '19	Jun '18	Jun '17	Jun '16
Capital Expenditure	-69,022	-64,551	-44,477	-28,107	-23,886	-20,622	-15,441	-13,925	-11,632	-8,129	-8,343
Additions to Property and Equipment
Purchases of Investments	-45,826	-29,775	-17,732	-37,651	-26,456	-62,924	-77,190	-57,697	-137,380	-176,905	-129,758
Purchases of Investments
Proceeds from Sale of Investments	30,577	25,388	35,669	47,864	44,894	65,800	84,170	58,237	143,937	164,394	115,341
Maturities of Investments
Sales of Investments
Payments for Business Acquisitions	-4,707	-5,978	-69,132	-1,670	-22,038	-8,909	-2,521	-2,388	-888	-25,944	-1,393
Acquisition of Companies, Net of Cash Acquired and Divestitures, and Purchases of Intangible and Other Assets
Other Investing Activities	-2,979	2,317	-1,298	-3,116	-2,825	-922	-1,241	—	-98	-197	203
Securities Lending Payable
Other, Net
Cash from Investing Activities	-91,957	-72,599	-96,970	-22,680	-30,311	-27,577	-12,223	-15,773	-6,061	-46,781	-23,950
Net Cash Used in Investing

Financing Activities	LTM	Jun '25	Jun '24	Jun '23	Jun '22	Jun '21	Jun '20	Jun '19	Jun '18	Jun '17	Jun '16
Issuance of Short-Term Debt	—	-5,746	5,250	—	—	—	—	—	-7,324	-4,963	7,195
Repayments of Debt, Maturities of 90 Days or Less
Net Issuance / (Repayments) of Short-Term Debt	—	-5,746	5,250	—	—	—	—	—	-7,324	-4,963	7,195
Issuance of Long-Term Debt	—	—	24,395	—	—	—	—	—	7,183	44,344	13,884
Proceeds from Issuance of Debt
Repayments of Long-Term Debt	-2,250	-3,216	-29,070	-2,750	-9,023	-3,750	-5,518	-4,000	-10,060	-7,922	-2,796
Repayments of Debt
Net Issuance / (Repayments) of Long-Term Debt	-2,250	-3,216	-4,675	-2,750	-9,023	-3,750	-5,518	-4,000	-2,877	36,422	11,088
Issuance of Common Shares	2,039	2,056	2,002	1,866	1,841	1,693	1,343	1,142	1,002	772	668
Common Stock Issued
Repurchases of Common Shares	-19,963	-18,420	-17,254	-22,245	-32,696	-27,385	-22,968	-19,543	-10,721	-11,788	-15,969
Common Stock Repurchased
Net Issuance / (Repurchases) of Common Shares	-17,924	-16,364	-15,252	-20,379	-30,855	-25,692	-21,625	-18,401	-9,719	-11,016	-15,301
Common Share Dividends Paid	-24,677	-24,082	-21,771	-19,800	-18,135	-16,521	-15,137	-13,811	-12,699	-11,845	-11,006
Common Stock Cash Dividends Paid
Other Financing Activities	-2,071	-2,291	-1,309	-1,006	-863	-2,523	-3,751	-675	-971	-190	-369
Cash Premium on Debt Exchange
Excess Tax Benefits from Stock-Based Compensation
Other, Net
Cash from Financing Activities	-46,922	-51,699	-37,757	-43,935	-58,876	-48,486	-46,031	-36,887	-33,590	8,408	-8,393
Net Cash Used in Financing

Free Cash Flow	LTM	Jun '25	Jun '24	Jun '23	Jun '22	Jun '21	Jun '20	Jun '19	Jun '18	Jun '17	Jun '16
Free Cash Flow	78,017	71,611	74,071	59,475	65,149	56,118	45,234	38,260	32,252	31,378	24,982
NOPAT	111,715	105,869	89,481.9	71,722.6	72,448.7	60,249	44,216.7	38,585.2	15,927.7	24,742.3	20,890.7
Levered Free Cash Flow	75,175	67,703	75,536	57,064	61,569	54,130	37,212	39,675	29,328	63,689	37,149
Unlevered Free Cash Flow	84,228	80,702	76,306.9	59,175.6	70,302.7	56,858	42,665.7	43,020.2	38,885.7	31,483.3	19,217.7
Net Change in Cash	8,160	11,864	-16,179	20,967	-152	677	2,421	-475	4,233	1,134	982