Stock Analysis on Net
Stock Analysis on Net
Stock Analysis on Net without ads!

Microsoft Corp. (NASDAQ:MSFT)

$24.99

Cash Flow Statement
Quarterly Data

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Paying user area

Try for free

Microsoft Corp. pages available for free this week:

The data is hidden behind: . Unhide it.

Get access

This is a one-time payment. There is no automatic renewal.

We accept:

Visa Mastercard Maestro Discover JCB PayPal Google Pay
Visa Secure Mastercard Identity Check

Microsoft Corp., consolidated cash flow statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020
Net income
Depreciation, amortization, and other
Stock-based compensation expense
Net recognized (gains) losses on investments and derivatives
Deferred income taxes
Accounts receivable
Inventories
Other current assets
Other long-term assets
Accounts payable
Unearned revenue
Income taxes
Other current liabilities
Other long-term liabilities
Changes in operating assets and liabilities
Adjustments to reconcile net income to net cash from operations
Net cash from operations
Proceeds from issuance (repayments) of debt, maturities of 90 days or less, net
Proceeds from issuance of debt
Cash premium on debt exchange
Repayments of debt
Common stock issued
Common stock repurchased
Common stock cash dividends paid
Other, net
Net cash from (used in) financing
Additions to property and equipment
Acquisition of companies, net of cash acquired and divestitures, and purchases of intangible and other assets
Purchases of investments
Maturities of investments
Sales of investments
Other, net
Net cash (used in) from investing
Effect of foreign exchange rates on cash and cash equivalents
Net change in cash and cash equivalents

Based on: 10-K (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 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).

Operating performance demonstrates a sustained upward trajectory, with net income increasing from 13,893 million USD in September 2020 to 35,766 million USD by June 2026. Net cash from operations has followed a similar growth pattern, rising from 19,335 million USD to 55,441 million USD over the same period. This indicates a strong capacity to generate cash from core business activities, with operating cash flows consistently exceeding net income, suggesting high earnings quality.

Operating Cash Flow Drivers
Growth is supported by substantial non-cash adjustments, particularly in depreciation, amortization, and other expenses, which rose from 2,645 million USD in September 2020 to 11,022 million USD in June 2026. Stock-based compensation has remained relatively stable but trended upward, moving from 1,456 million USD to 3,122 million USD. Working capital movements exhibit significant quarterly volatility, with unearned revenue showing recurring seasonal spikes, particularly in June of each year, reflecting the timing of contract recognitions.
Investing Activity and Capital Expenditure
A sharp increase in capital intensity is observed. Additions to property and equipment grew from 4,907 million USD in September 2020 to 35,802 million USD in June 2026, representing a massive expansion in infrastructure investment. A significant outlier occurred in December 2023, where net cash used in investing reached 71,925 million USD, primarily driven by a 65,029 million USD expenditure on company acquisitions. Investment portfolio activity remains active, with consistent cycles of purchasing and maturing investments to manage liquidity.
Financing and Shareholder Returns
Financing activities are characterized by a consistent net outflow, indicating a priority on returning capital to shareholders. Common stock cash dividends have grown steadily from 3,856 million USD per quarter in September 2020 to 6,758 million USD in June 2026. Share repurchases have remained a primary vehicle for capital distribution, with quarterly outflows typically ranging between 4,000 million USD and 8,800 million USD. Debt management shows a pattern of periodic repayments, with a notable increase in debt repayment activity between December 2023 and June 2024.

The overall financial profile reveals a company in a phase of aggressive infrastructure expansion funded by robust operating cash flows. While the December 2023 acquisition caused a temporary and severe contraction in net cash change, the subsequent recovery in operating cash flows has maintained the organization's ability to fund both its massive capital expenditure program and its consistent shareholder return policy.