Balance Sheet: Assets
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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- Statement of Comprehensive Income
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Dividend Discount Model (DDM)
- Net Profit Margin since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Revenues
- Analysis of Debt
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Microsoft Corp., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-K (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-Q (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-K (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-K (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-K (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-K (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-K (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30).
Over the period examined, the company’s total assets exhibited a generally increasing trend, although with notable fluctuations. Initial growth from September 2019 to December 2021 was followed by a period of asset reduction, then a significant surge in assets beginning in September 2022. This surge continued through December 2025, indicating substantial asset accumulation in the latter part of the observed timeframe.
- Cash, Cash Equivalents, and Short-Term Investments
- This component of current assets demonstrated considerable volatility. A decrease was observed from September 2019 to December 2020, followed by a recovery and then a decline again by March 2022. A substantial increase occurred from September 2022, peaking in September 2023, before decreasing again to December 2025. This suggests active management of liquid assets, potentially related to investment strategies or operational needs. The significant peak in September 2023 warrants further investigation.
- Accounts Receivable
- Accounts receivable showed an increasing trend overall, with fluctuations throughout the period. A notable increase occurred between March 2021 and June 2021, followed by a period of relative stability. From June 2022 onwards, accounts receivable continued to rise, reaching a peak in December 2023, before decreasing slightly by December 2025. This pattern could indicate changes in sales terms or collection efficiency.
- Inventories
- Inventory levels remained relatively stable for much of the period, fluctuating within a narrow range. A slight increase was observed from March 2022 to September 2022, followed by a decrease. Inventory levels remained low through December 2025, suggesting efficient inventory management or a business model not heavily reliant on large inventory holdings.
- Other Current Assets
- Other current assets consistently increased over the period, demonstrating a steady upward trend. This suggests a growing investment in short-term operational assets or an increase in prepaid expenses. The growth accelerated from September 2022, mirroring the overall asset growth.
- Long-Term Assets
- Long-term assets, encompassing property and equipment, operating lease right-of-use assets, equity investments, goodwill, intangible assets, and other long-term assets, exhibited a consistent upward trend. Property and equipment, net, showed significant growth, particularly from September 2020 onwards. Goodwill experienced a substantial increase beginning in September 2023, coinciding with the overall asset surge. Intangible assets also increased, though at a more moderate pace. The growth in long-term assets indicates significant investment in the company’s long-term capabilities and potential acquisitions.
In summary, the asset base experienced substantial growth, particularly in the latter half of the period. The composition of assets shifted, with a notable increase in long-term assets, especially goodwill, suggesting strategic investments and potential acquisitions. The fluctuations in cash and short-term investments indicate active liquidity management. Continued monitoring of these trends is recommended to assess the company’s financial health and strategic direction.