Microsoft Corporation (MSFT)

Microsoft Cash Flow Statement

Financials in millions USD. Fiscal year is July - June.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Jun 30, 2025	Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021
Net Income	119,262	101,832	88,136	72,361	72,738	61,271
Depreciation & Amortization	32,700	28,000	20,000	13,500	14,600	10,900
Loss (Gain) From Sale of Investments	-8,093	609	305	196	-409	-1,249
Stock-Based Compensation	12,255	11,974	10,734	9,611	7,502	6,118
Other Operating Activities	8,887	-903	-2,451	-5,698	-5,842	636
Change in Accounts Receivable	-5,586	-10,581	-7,191	-4,087	-6,834	-6,481
Change in Inventory	-151	309	1,284	1,242	-1,123	-737
Change in Accounts Payable	1,110	569	3,545	-2,721	2,943	2,798
Change in Unearned Revenue	4,428	5,438	5,348	5,535	5,109	4,633
Change in Income Taxes	-1,523	-38	1,687	-358	696	-2,309
Change in Other Net Operating Assets	-2,783	-1,047	-2,849	-1,999	-345	1,160
Operating Cash Flow	160,506	136,162	118,548	87,582	89,035	76,740
Operating Cash Flow Growth	27.81%	14.86%	35.36%	-1.63%	16.02%	26.48%
Capital Expenditures	-83,094	-64,551	-44,477	-28,107	-23,886	-20,622
Cash Acquisitions	-3,757	-5,978	-69,132	-1,670	-22,038	-8,909
Investment in Securities	-10,099	-4,387	17,937	10,213	18,438	2,876
Other Investing Activities	-3,600	2,317	-1,298	-3,116	-2,825	-922
Investing Cash Flow	-100,550	-72,599	-96,970	-22,680	-30,311	-27,577
Short-Term Debt Issued	-	-	5,250	-	-	-
Long-Term Debt Issued	-	-	24,395	-	-	-
Total Debt Issued	-	-	29,645	-	-	-
Short-Term Debt Repaid	-	-5,746	-	-	-	-
Long-Term Debt Repaid	-	-3,216	-29,070	-2,750	-9,023	-3,750
Total Debt Repaid	-5,250	-8,962	-29,070	-2,750	-9,023	-3,750
Net Debt Issued (Repaid)	-5,250	-8,962	575	-2,750	-9,023	-3,750
Issuance of Common Stock	2,042	2,056	2,002	1,866	1,841	1,693
Repurchase of Common Stock	-22,392	-18,420	-17,254	-22,245	-32,696	-27,385
Common Dividends Paid	-25,269	-24,082	-21,771	-19,800	-18,135	-16,521
Other Financing Activities	-2,427	-2,291	-1,309	-1,006	-863	-2,523
Financing Cash Flow	-53,296	-51,699	-37,757	-43,935	-58,876	-48,486
Foreign Exchange Rate Adjustments	154	63	-210	-194	-141	-29
Net Cash Flow	6,814	11,927	-16,389	20,773	-293	648
Free Cash Flow	77,412	71,611	74,071	59,475	65,149	56,118
Free Cash Flow Growth	10.54%	-3.32%	24.54%	-8.71%	16.09%	24.06%
Free Cash Flow Margin	25.34%	25.42%	30.22%	28.07%	32.86%	33.39%
Free Cash Flow Per Share	10.37	9.59	9.92	7.96	8.64	7.38
Cash Interest Paid	1,600	1,600	1,700	1,700	1,900	2,000
Cash Income Tax Paid	28,700	28,700	23,400	23,100	16,000	13,400
Levered Free Cash Flow	53,641	61,070	56,717	47,269	49,479	41,337
Unlevered Free Cash Flow	55,314	62,586	58,582	48,516	50,758	42,794
Change in Working Capital	-4,505	-5,350	1,824	-2,388	446	-936

Updated Jan 28, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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