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MICROSOFT CORP (MSFT) Annual Reports

Q: Where can I read MICROSOFT CORP (MSFT) annual reports?

Every year on this page links straight to the full text on SEC EDGAR. US annual reports are web pages (HTML) rather than PDFs, so you can read and search them in the browser. 4 filings are currently indexed.

Q: What is the difference between a 10-K and a 20-F?

A 10-K is the annual report of a US domestic issuer; a 20-F is filed by foreign private issuers (Taiwanese companies with US ADRs, such as TSMC, file 20-F). A 40-F applies to Canadian issuers under the MJDS.

MICROSOFT CORP is listed on Nasdaq, classified by the SEC under Services-Prepackaged Software (SIC 7372). This page indexes 4 annual reports, each linking to the full text on the SEC's EDGAR system.

Company profile

Exchange： Nasdaq
Fiscal year end： 06/30
SEC CIK： 789019 →

Website：Official site ↗

Financial Highlights

FY2026 Q3 (quarterly, ended 2026-03-31)
	Current	Prior year	YoY
Revenue	$82.9B	$70.1B	+18.3%
Operating income	$38.4B	$32.0B	+20.0%
Net income	$31.8B	$25.8B	+23.1%
EPS (diluted)	$4.27	$3.46	+23.4%

Source: SEC EDGAR (XBRL company facts)

Financial history

Revenue & profit

Quarterly · In bn (USD)

Revenue 90.0 bn Net income 35.8 bn

Periods follow the company’s fiscal year (Apple ends in September, Walmart in January), so they differ from calendar quarters.

Show table：Income statement

Item	2009Q3	2009Q4	2010Q1	2010Q2	2010Q3	2010Q4	2011Q1	2011Q2	2011Q3	2011Q4	2012Q1	2012Q2	2012Q3	2012Q4	2013Q1	2013Q2	2013Q3	2013Q4	2014Q1	2014Q2	2014Q3	2014Q4	2015Q1	2015Q2	2015Q3	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2	2026Q3	2026Q4
Revenue	13.7	13.1	12.9	19.0	14.5	16.0	16.2	19.9	16.4	17.4	17.4	20.9	17.4	18.1	16.0	21.5	20.5	19.9	18.5	24.5	20.4	23.4	23.2	26.5	21.7	22.2	20.4	23.8	20.5	20.6	20.4	25.8	23.2	25.6	24.5	28.9	26.8	30.1	29.1	32.5	30.6	33.7	33.1	36.9	35.0	38.0	37.1	43.1	41.7	46.1	45.3	51.7	49.4	51.9	50.1	52.8	52.9	56.2	56.5	62.0	61.9	64.7	65.6	69.6	70.1	76.4	77.7	81.3	82.9	90.0
Gross profit	10.8	10.5	10.1	15.4	11.8	12.9	13.1	15.1	12.5	13.7	13.6	15.3	13.5	13.9	11.8	15.8	15.7	14.3	13.4	16.2	14.5	15.8	14.9	16.3	14.6	14.7	13.2	13.9	12.8	12.6	14.1	14.2	14.0	14.9	16.3	17.9	17.6	20.3	19.2	20.1	20.4	23.3	22.6	24.6	24.1	25.7	26.1	28.9	28.7	32.2	31.7	34.8	33.7	35.4	34.7	35.3	36.7	39.4	40.2	42.4	43.4	45.0	45.5	47.8	48.1	52.4	53.6	55.3	56.1	60.5
Operating income	4.44	3.99	4.48	8.51	5.17	5.93	7.12	8.16	5.71	6.17	7.20	7.99	6.37	0.19	5.31	7.77	7.61	6.07	6.33	7.97	6.97	6.48	5.84	7.78	6.59	-2.05	5.79	6.03	5.28	3.08	6.72	6.18	5.59	5.33	7.71	8.68	8.29	10.4	9.96	10.3	10.3	12.4	12.7	13.9	13.0	13.4	15.9	17.9	17.1	19.1	20.2	22.3	20.4	20.5	21.5	20.4	22.4	24.3	26.9	27.0	27.6	27.9	30.6	31.6	32.0	34.3	38.0	38.3	38.4	40.6
Net income	2.98	3.05	3.57	6.66	4.01	4.52	5.41	6.63	5.23	5.87	5.74	6.62	5.11	-0.49	4.47	6.38	6.06	4.97	5.24	6.56	5.66	4.61	4.54	5.86	4.99	-3.19	4.62	5.00	3.76	3.12	5.67	5.20	4.80	6.51	6.58	-6.30	7.42	8.87	8.82	8.42	8.81	13.2	10.7	11.7	10.8	11.2	13.9	15.5	15.5	16.5	20.5	18.8	16.7	16.7	17.6	16.4	18.3	20.1	22.3	21.9	21.9	22.0	24.7	24.1	25.8	27.2	27.8	38.5	31.8	35.8

Balance sheet

Quarterly · In bn (USD)

Total assets 758 bn Total liabilities 316 bn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Show table：Balance sheet

Item	2009Q3	2009Q4	2010Q1	2010Q2	2010Q3	2010Q4	2011Q1	2011Q2	2011Q3	2011Q4	2012Q1	2012Q2	2012Q3	2012Q4	2013Q1	2013Q2	2013Q3	2013Q4	2014Q1	2014Q2	2014Q3	2014Q4	2015Q1	2015Q2	2015Q3	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2	2026Q3	2026Q4
Current assets	—	49.3	52.2	52.5	54.5	55.7	59.6	59.7	66.3	74.9	75.3	72.5	76.9	85.1	84.0	89.6	93.5	101	99.5	107	109	114	112	116	118	125	122	128	128	140	158	145	146	160	161	168	157	170	164	157	160	176	166	167	171	182	177	174	166	184	174	174	154	170	161	158	164	184	208	147	147	160	150	147	157	191	189	180	175	208
Total assets	—	77.9	81.6	82.1	84.9	86.1	91.5	92.3	99.7	109	107	112	118	121	122	129	134	142	142	154	156	172	170	175	177	176	173	180	182	194	213	225	225	241	249	256	246	259	258	259	263	287	279	283	285	301	301	304	309	334	335	340	345	365	360	365	380	412	446	471	484	512	523	534	563	619	636	665	694	758
Current liabilities	—	27.0	28.8	25.7	26.4	26.1	25.9	24.3	24.0	28.8	25.5	25.4	26.2	32.7	31.4	31.9	31.9	37.4	34.6	33.7	33.9	45.6	44.7	47.4	40.8	49.9	49.4	42.6	44.4	59.4	58.8	70.8	52.0	64.5	51.6	58.1	46.1	58.5	56.3	50.3	53.9	69.4	58.1	59.6	58.7	72.3	70.1	67.5	72.2	88.7	80.5	77.5	77.4	95.1	87.4	81.7	85.7	104	125	121	119	125	115	109	114	141	135	130	137	169
Total liabilities	—	—	—	—	—	39.9	44.6	43.8	46.3	51.6	48.0	48.1	49.4	54.9	53.0	56.1	57.4	63.5	60.7	68.4	68.7	82.6	79.5	83.0	86.5	96.1	95.5	103	107	122	142	156	155	169	159	178	166	176	172	167	168	184	173	173	171	183	178	174	174	192	183	180	182	198	186	181	185	206	225	232	231	244	235	231	241	276	273	274	280	316
Equity	36.9	39.6	41.2	44.3	45.7	46.2	46.9	48.5	53.5	57.1	59.4	64.1	68.7	66.4	68.8	72.6	76.7	78.9	81.6	85.1	87.4	89.8	90.2	91.9	90.1	80.1	77.4	76.8	74.8	72.0	70.4	68.8	69.7	72.4	89.7	78.4	79.2	82.7	86.0	92.1	94.9	102	106	110	115	118	123	130	135	142	152	160	163	167	174	183	195	206	221	238	253	268	288	303	322	343	363	391	414	442

Cash flow

Quarterly · In bn (USD)

Operating 55.4 bn Investing -54.8 bn Financing -11.8 bn

Positive = cash in, negative = cash out.

Show table：Cash flow statement

Item	2009Q3	2009Q4	2010Q1	2010Q2	2010Q3	2010Q4	2011Q1	2011Q2	2011Q3	2011Q4	2012Q1	2012Q2	2012Q3	2012Q4	2013Q1	2013Q2	2013Q3	2013Q4	2014Q1	2014Q2	2014Q3	2014Q4	2015Q1	2015Q2	2015Q3	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2	2026Q3	2026Q4
Operating	6.04	3.84	6.11	4.97	7.39	5.60	8.19	4.19	8.67	5.94	8.49	5.86	9.59	7.68	8.48	4.78	9.67	5.90	8.21	4.41	10.1	9.51	8.35	4.34	9.57	6.82	8.59	5.60	10.4	8.46	11.6	6.29	10.7	11.0	12.4	7.88	12.2	11.4	13.7	8.90	13.5	16.1	13.8	10.7	17.5	18.7	19.3	12.5	22.2	22.7	24.5	14.5	25.4	24.6	23.2	11.2	24.4	28.8	30.6	18.9	31.9	37.2	34.2	22.3	37.0	42.6	45.1	35.8	46.7	55.4
Investing	-6.01	-7.86	-1.20	-0.09	-5.90	-4.12	-4.96	-1.57	-7.14	-0.95	-2.31	-5.57	-12.2	-4.66	-7.72	-2.59	-7.66	-5.84	-4.61	-1.02	-4.28	-8.91	-7.74	-4.72	-5.48	-5.07	-5.07	-3.33	-5.48	-10.1	-18.5	-14.8	-6.19	-7.37	-6.90	-0.33	3.84	-2.67	-2.95	-4.20	-1.36	-7.26	-1.78	-6.04	0.05	-4.46	-5.37	-1.67	-9.68	-10.8	-3.25	-1.16	-16.2	-9.73	-3.13	-7.15	-3.26	-9.13	0.5	-71.9	-10.7	-14.8	-15.2	-14.1	-12.7	-30.6	-34.6	-22.7	-27.4	-54.8
Financing	-1.06	2.70	-2.19	-4.28	-2.73	-4.10	-0.64	-6.75	1.44	-2.42	-2.87	-2.51	-1.60	-2.42	-2.71	-1.22	-2.74	-1.47	-3.40	2.62	-4.30	-3.31	-2.98	0.53	-3.06	-3.57	-3.65	-0.5	-4.92	0.97	14.3	3.02	-6.24	-2.70	-6.34	-1.55	-19.7	-6.04	-7.38	-13.2	-7.60	-8.69	-10.2	-8.91	-14.6	-12.3	-10.3	-13.6	-13.2	-11.4	-16.3	-12.0	-17.3	-13.3	-10.9	-11.3	-10.3	-11.4	14.8	-10.2	-18.8	-23.6	-16.6	-11.2	-13.0	-10.8	-11.8	-17.6	-11.3	-11.8
Cash at period end	7.29	6.08	8.82	9.42	8.15	5.51	8.16	4.02	7.02	9.61	12.9	10.6	6.39	6.94	5.04	6.02	5.24	3.80	4.02	10.1	11.6	8.67	6.30	6.43	7.41	5.60	5.43	7.19	7.17	6.51	13.9	8.47	6.71	7.66	6.88	12.9	9.22	11.9	15.1	6.64	11.2	11.4	13.1	8.86	11.7	13.6	17.2	14.4	13.7	14.2	19.2	20.6	12.5	13.9	22.9	15.7	26.6	34.7	80.5	17.3	19.6	18.3	20.8	17.5	28.8	30.2	28.9	24.3	32.1	20.9

Profitability

Quarterly · %

Gross margin 67.2% Operating margin 45.1% Net margin 39.7%

Gross, operating and net margin = the respective profit ÷ revenue.

Show table：Profitability

Item	2009Q3	2009Q4	2010Q1	2010Q2	2010Q3	2010Q4	2011Q1	2011Q2	2011Q3	2011Q4	2012Q1	2012Q2	2012Q3	2012Q4	2013Q1	2013Q2	2013Q3	2013Q4	2014Q1	2014Q2	2014Q3	2014Q4	2015Q1	2015Q2	2015Q3	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2	2026Q3	2026Q4
Gross margin	79.4%	80.3%	78.0%	80.9%	81.0%	80.2%	80.6%	75.8%	76.3%	78.7%	78.3%	73.0%	77.3%	77.0%	74.0%	73.5%	76.6%	71.8%	72.4%	66.2%	70.9%	67.5%	64.3%	61.7%	67.0%	66.3%	64.6%	58.5%	62.4%	61.3%	68.9%	54.9%	60.4%	58.0%	66.3%	61.7%	65.4%	67.6%	65.9%	61.7%	66.7%	69.1%	68.5%	66.5%	68.7%	67.6%	70.4%	67.0%	68.7%	69.7%	69.9%	67.2%	68.4%	68.3%	69.2%	66.8%	69.5%	70.1%	71.2%	68.4%	70.1%	69.6%	69.3%	68.7%	68.7%	68.6%	69.0%	68.0%	67.6%	67.2%
Operating margin	32.5%	30.4%	34.7%	44.8%	35.7%	37.0%	43.9%	40.9%	34.8%	35.5%	41.5%	38.3%	36.6%	1.1%	33.2%	36.2%	37.1%	30.5%	34.2%	32.5%	34.2%	27.7%	25.2%	29.4%	30.4%	-9.3%	28.4%	25.3%	25.7%	14.9%	32.8%	23.9%	24.1%	20.8%	31.4%	30.0%	30.9%	34.5%	34.2%	31.6%	33.8%	36.8%	38.4%	37.6%	37.0%	35.3%	42.7%	41.5%	40.9%	41.4%	44.7%	43.0%	41.3%	39.6%	42.9%	38.7%	42.3%	43.2%	47.6%	43.6%	44.6%	43.1%	46.6%	45.5%	45.7%	44.9%	48.9%	47.1%	46.3%	45.1%
Net margin	21.8%	23.3%	27.7%	35.0%	27.6%	28.2%	33.4%	33.3%	31.9%	33.8%	33.0%	31.7%	29.3%	-2.7%	27.9%	29.7%	29.6%	24.9%	28.3%	26.8%	27.7%	19.7%	19.6%	22.1%	22.9%	-14.4%	22.7%	21.0%	18.3%	15.2%	27.7%	20.1%	20.7%	25.4%	26.8%	-21.8%	27.7%	29.5%	30.3%	25.9%	28.8%	39.1%	32.3%	31.6%	30.7%	29.4%	37.4%	35.9%	37.1%	35.7%	45.3%	36.3%	33.9%	32.3%	35.0%	31.1%	34.6%	35.7%	39.4%	35.3%	35.5%	34.0%	37.6%	34.6%	36.9%	35.6%	35.7%	47.3%	38.3%	39.7%

Returns & leverage

Quarterly · %

ROE 34.0% ROA 19.4% Debt ratio 41.7%

ROE / ROA = trailing four-quarter net income ÷ average equity / total assets (annual mode: the year’s net income ÷ average of opening and closing). Not computed when the denominator is zero or negative.

Show table：Returns & leverage

Item	2009Q3	2009Q4	2010Q1	2010Q2	2010Q3	2010Q4	2011Q1	2011Q2	2011Q3	2011Q4	2012Q1	2012Q2	2012Q3	2012Q4	2013Q1	2013Q2	2013Q3	2013Q4	2014Q1	2014Q2	2014Q3	2014Q4	2015Q1	2015Q2	2015Q3	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2	2026Q3	2026Q4
ROE	—	—	—	36.7%	41.8%	43.8%	46.7%	44.3%	44.0%	44.8%	44.2%	41.7%	38.2%	27.5%	24.5%	22.6%	22.6%	30.1%	30.1%	28.9%	27.3%	26.2%	24.9%	23.4%	22.5%	14.4%	14.6%	13.5%	12.3%	21.7%	23.7%	24.4%	26.0%	30.7%	28.9%	15.8%	19.1%	21.4%	21.4%	39.4%	40.1%	42.4%	42.8%	43.8%	44.2%	40.1%	41.4%	42.7%	45.0%	47.1%	49.3%	49.0%	48.7%	47.1%	42.9%	39.3%	38.6%	38.8%	39.1%	39.2%	38.5%	37.1%	35.6%	34.3%	33.6%	33.3%	32.2%	34.4%	34.0%	34.0%
ROA	—	—	—	19.8%	20.4%	22.9%	23.8%	23.6%	23.6%	23.8%	23.6%	22.9%	21.4%	14.8%	13.7%	12.8%	13.0%	16.6%	17.1%	16.2%	15.4%	14.0%	13.7%	12.6%	12.0%	7.0%	7.2%	6.4%	5.7%	8.9%	9.1%	8.8%	9.2%	10.2%	10.0%	4.8%	6.0%	6.6%	7.4%	13.0%	13.7%	14.4%	15.3%	16.4%	16.9%	15.1%	16.4%	17.5%	18.9%	19.3%	21.3%	22.1%	22.2%	20.8%	20.1%	19.1%	19.1%	18.6%	19.1%	19.8%	19.9%	19.1%	18.7%	18.5%	18.5%	18.0%	18.1%	19.9%	19.9%	19.4%
Debt ratio	—	—	—	—	—	46.4%	48.7%	47.5%	46.4%	47.5%	44.7%	42.9%	41.8%	45.3%	43.5%	43.6%	42.8%	44.6%	42.6%	44.6%	44.0%	47.9%	46.9%	47.5%	49.0%	54.6%	55.2%	57.4%	58.9%	62.8%	66.9%	69.4%	69.0%	70.0%	64.0%	69.4%	67.7%	68.0%	66.6%	64.4%	64.0%	64.3%	62.0%	61.1%	59.9%	60.7%	59.0%	57.2%	56.5%	57.5%	54.7%	53.0%	52.7%	54.4%	51.8%	49.8%	48.8%	49.9%	50.5%	49.4%	47.7%	47.6%	45.0%	43.3%	42.8%	44.5%	42.9%	41.3%	40.3%	41.7%

EPS

Quarterly · US$

EPS US$4.81

Show table：EPS

Item	2009Q3	2009Q4	2010Q1	2010Q2	2010Q3	2010Q4	2011Q1	2011Q2	2011Q3	2011Q4	2012Q1	2012Q2	2012Q3	2012Q4	2013Q1	2013Q2	2013Q3	2013Q4	2014Q1	2014Q2	2014Q3	2014Q4	2015Q1	2015Q2	2015Q3	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2	2026Q3	2026Q4
EPS（US$）	0.33	0.34	0.40	0.74	0.45	0.51	0.62	0.77	0.61	0.69	0.68	0.78	0.60	-0.06	0.53	0.76	0.72	0.59	0.62	0.78	0.68	0.55	0.54	0.71	0.61	-0.40	0.57	0.62	0.47	0.39	0.72	0.66	0.61	0.83	0.84	-0.82	0.95	1.14	1.14	1.08	1.14	1.71	1.38	1.51	1.40	1.46	1.82	2.03	2.03	2.17	2.71	2.48	2.22	2.24	2.35	2.20	2.45	2.69	2.99	2.93	2.94	2.95	3.30	3.23	3.46	3.65	3.72	5.16	4.27	4.81

Revenue & profit

Year-to-date · In bn (USD)

Revenue 332 bn Net income 134 bn

Year-to-date = summed from the first quarter of the fiscal year; balance-sheet items are period-end balances.

Balance sheet

Year-to-date · In bn (USD)

Total assets 758 bn Total liabilities 316 bn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Cash flow

Year-to-date · In bn (USD)

Operating 183 bn Investing -139 bn Financing -52.5 bn

Positive = cash in, negative = cash out.

Profitability

Year-to-date · %

Gross margin 67.9% Operating margin 46.8% Net margin 40.3%

Gross, operating and net margin = the respective profit ÷ revenue.

Returns & leverage

Year-to-date · %

ROE 34.0% ROA 19.4% Debt ratio 41.7%

EPS

Year-to-date · US$

EPS US$17.96

Revenue & profit

Annual · In bn (USD)

Revenue 332 bn Net income 134 bn

Annual = sum of four quarters of a complete fiscal year (incomplete years are omitted); balance-sheet items are year-end balances.

Show table：Income statement

Item	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Revenue	62.5	69.9	73.7	77.8	86.8	93.6	85.3	95.1	110	126	143	168	198	212	245	282	332
Gross profit	50.1	54.4	56.2	57.6	59.9	60.5	52.5	57.2	72.0	82.9	96.9	116	136	146	171	194	225
Operating income	24.1	27.2	21.8	26.8	27.8	18.2	20.2	23.8	35.1	43.0	53.0	69.9	83.4	88.5	109	129	155
Net income	18.8	23.1	17.0	21.9	22.1	12.2	16.5	22.2	16.6	39.2	44.3	61.3	72.7	72.4	88.1	102	134

Balance sheet

Annual · In bn (USD)

Total assets 758 bn Total liabilities 316 bn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Show table：Balance sheet

Item	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Current assets	55.7	74.9	85.1	101	114	125	140	160	170	176	182	184	170	184	160	191	208
Total assets	86.1	109	121	142	172	176	194	241	259	287	301	334	365	412	512	619	758
Current liabilities	26.1	28.8	32.7	37.4	45.6	49.9	59.4	64.5	58.5	69.4	72.3	88.7	95.1	104	125	141	169
Total liabilities	39.9	51.6	54.9	63.5	82.6	96.1	122	169	176	184	183	192	198	206	244	276	316
Equity	46.2	57.1	66.4	78.9	89.8	80.1	72.0	72.4	82.7	102	118	142	167	206	268	343	442

Cash flow

Annual · In bn (USD)

Operating 183 bn Investing -139 bn Financing -52.5 bn

Positive = cash in, negative = cash out.

Show table：Cash flow statement

Item	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Operating	24.1	27.0	31.6	28.8	32.2	29.1	33.0	39.5	43.9	52.2	60.7	76.7	89.0	87.6	119	136	183
Investing	-11.3	-14.6	-24.8	-23.8	-18.8	-23.0	-23.9	-46.8	-6.06	-15.8	-12.2	-27.6	-30.3	-22.7	-97.0	-72.6	-139
Financing	-13.3	-8.38	-9.41	-8.15	-8.39	-9.08	-8.09	8.41	-33.6	-36.9	-46.0	-48.5	-58.9	-43.9	-37.8	-51.7	-52.5
Cash at period end	5.51	9.61	6.94	3.80	8.67	5.60	6.51	7.66	11.9	11.4	13.6	14.2	13.9	34.7	18.3	30.2	20.9

Profitability

Annual · %

Gross margin 67.9% Operating margin 46.8% Net margin 40.3%

Gross, operating and net margin = the respective profit ÷ revenue.

Show table：Profitability

Item	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Gross margin	80.2%	77.7%	76.2%	74.0%	69.0%	64.7%	61.6%	60.1%	65.3%	65.9%	67.8%	68.9%	68.4%	68.9%	69.8%	68.8%	67.9%
Operating margin	38.6%	38.8%	29.5%	34.4%	32.0%	19.4%	23.6%	25.0%	31.8%	34.1%	37.0%	41.6%	42.1%	41.8%	44.6%	45.6%	46.8%
Net margin	30.0%	33.1%	23.0%	28.1%	25.4%	13.0%	19.3%	23.3%	15.0%	31.2%	31.0%	36.5%	36.7%	34.1%	36.0%	36.1%	40.3%

Returns & leverage

Annual · %

ROE 34.0% ROA 19.4% Debt ratio 41.7%

Show table：Returns & leverage

Item	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
ROE	40.6%	44.8%	27.5%	30.1%	26.2%	14.4%	21.7%	30.7%	21.4%	42.4%	40.1%	47.1%	47.1%	38.8%	37.1%	33.3%	34.0%
ROA	21.8%	23.8%	14.8%	16.6%	14.0%	7.0%	8.9%	10.2%	6.6%	14.4%	15.1%	19.3%	20.8%	18.6%	19.1%	18.0%	19.4%
Debt ratio	46.4%	47.5%	45.3%	44.6%	47.9%	54.6%	62.8%	70.0%	68.0%	64.3%	60.7%	57.5%	54.4%	49.9%	47.6%	44.5%	41.7%

EPS

Annual · US$

EPS US$17.96

Show table：EPS

Item	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
EPS（US$）	2.10	2.69	2.00	2.60	2.63	1.46	2.05	2.82	2.11	5.07	5.75	8.05	9.65	9.69	11.81	13.64	17.96

Source: SEC EDGAR (XBRL company facts)

Annual reports by year

	10-K
2026	Open full text →
2025	Open full text →
2024	Open full text →
2023	Open full text →

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FAQ

Where can I read MICROSOFT CORP (MSFT) annual reports?

Every year in the table above links straight to the full text on SEC EDGAR. US annual reports are web pages (HTML) rather than PDFs, so you can read and search them in the browser without downloading anything. 4 filings are currently indexed.

What is the difference between a 10-K and a 20-F?

A 10-K is the annual report of a US domestic issuer, with sections fixed by law: Item 1 Business, Item 1A Risk Factors, Item 7 Management's Discussion and Analysis. A 20-F is filed by foreign private issuers — Taiwanese companies with US ADRs, such as TSMC, file 20-F rather than 10-K. A 40-F applies to Canadian issuers under the MJDS.

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