Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.

Ratios (Summary)
Net Fixed Asset Turnover
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Total Asset Turnover
Equity Turnover

Microsoft Corp., long-term (investment) activity ratios

		Jun 30, 2019	Jun 30, 2018	Jun 30, 2017	Jun 30, 2016	Jun 30, 2015	Jun 30, 2014
	Net fixed asset turnover
	Net fixed asset turnover (including operating lease, right-of-use asset)
	Total asset turnover
	Equity turnover

Based on: 10-K (filing date: 2019-08-01), 10-K (filing date: 2018-08-03), 10-K (filing date: 2017-08-02), 10-K (filing date: 2016-07-28), 10-K (filing date: 2015-07-31), 10-K (filing date: 2014-07-31).

Ratio	Description	The company
Net fixed asset turnover	An activity ratio calculated as total revenue divided by net fixed assets.	Microsoft Corp.’s net fixed asset turnover deteriorated from 2017 to 2018 and from 2018 to 2019.
Net fixed asset turnover (including operating lease, right-of-use asset)	An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset).	Microsoft Corp.’s net fixed asset turnover (including operating lease, right-of-use asset) deteriorated from 2017 to 2018 and from 2018 to 2019.
Total asset turnover	An activity ratio calculated as total revenue divided by total assets.	Microsoft Corp.’s total asset turnover improved from 2017 to 2018 and from 2018 to 2019.
Equity turnover	An activity ratio calculated as total revenue divided by shareholders’ equity.	Microsoft Corp.’s equity turnover improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.

Microsoft Corp., net fixed asset turnover calculation, comparison to benchmarks

		Jun 30, 2019	Jun 30, 2018	Jun 30, 2017	Jun 30, 2016	Jun 30, 2015	Jun 30, 2014
	Selected Financial Data (USD $ in millions)
	Revenue
	Property and equipment, net of accumulated depreciation
	Ratio
	Net fixed asset turnover¹
	Benchmarks
	Net Fixed Asset Turnover, Competitors²
	Adobe Inc.
	Alphabet Inc.
	Facebook Inc.
	International Business Machines Corp.
	Intuit Inc.
	Oracle Corp.
	salesforce.com inc.
	Net Fixed Asset Turnover, Sector
	Software & Computer Services
	Net Fixed Asset Turnover, Industry
	Technology

Based on: 10-K (filing date: 2019-08-01), 10-K (filing date: 2018-08-03), 10-K (filing date: 2017-08-02), 10-K (filing date: 2016-07-28), 10-K (filing date: 2015-07-31), 10-K (filing date: 2014-07-31).

¹ 2019 Calculation
Net fixed asset turnover = Revenue ÷ Property and equipment, net of accumulated depreciation
= hidden ÷ hidden = hidden

² Click competitor name to see calculations.

Ratio	Description	The company
Net fixed asset turnover	An activity ratio calculated as total revenue divided by net fixed assets.	Microsoft Corp.’s net fixed asset turnover deteriorated from 2017 to 2018 and from 2018 to 2019.

Microsoft Corp., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

		Jun 30, 2019	Jun 30, 2018	Jun 30, 2017	Jun 30, 2016	Jun 30, 2015	Jun 30, 2014
	Selected Financial Data (USD $ in millions)
	Revenue

	Property and equipment, net of accumulated depreciation
	Operating lease right-of-use assets
	Property and equipment, net of accumulated depreciation (including operating lease, right-of-use asset)
	Ratio
	Net fixed asset turnover (including operating lease, right-of-use asset)¹
	Benchmarks
	Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
	Software & Computer Services
	Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
	Technology

Based on: 10-K (filing date: 2019-08-01), 10-K (filing date: 2018-08-03), 10-K (filing date: 2017-08-02), 10-K (filing date: 2016-07-28), 10-K (filing date: 2015-07-31), 10-K (filing date: 2014-07-31).

¹ 2019 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenue ÷ Property and equipment, net of accumulated depreciation (including operating lease, right-of-use asset)
= hidden ÷ hidden = hidden

Ratio	Description	The company
Net fixed asset turnover (including operating lease, right-of-use asset)	An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset).	Microsoft Corp.’s net fixed asset turnover (including operating lease, right-of-use asset) deteriorated from 2017 to 2018 and from 2018 to 2019.

Microsoft Corp., total asset turnover calculation, comparison to benchmarks

		Jun 30, 2019	Jun 30, 2018	Jun 30, 2017	Jun 30, 2016	Jun 30, 2015	Jun 30, 2014
	Selected Financial Data (USD $ in millions)
	Revenue
	Total assets
	Ratio
	Total asset turnover¹
	Benchmarks
	Total Asset Turnover, Competitors²
	Adobe Inc.
	Alphabet Inc.
	Facebook Inc.
	International Business Machines Corp.
	Intuit Inc.
	Oracle Corp.
	salesforce.com inc.
	Total Asset Turnover, Sector
	Software & Computer Services
	Total Asset Turnover, Industry
	Technology

Based on: 10-K (filing date: 2019-08-01), 10-K (filing date: 2018-08-03), 10-K (filing date: 2017-08-02), 10-K (filing date: 2016-07-28), 10-K (filing date: 2015-07-31), 10-K (filing date: 2014-07-31).

¹ 2019 Calculation
Total asset turnover = Revenue ÷ Total assets
= hidden ÷ hidden = hidden

² Click competitor name to see calculations.

Ratio	Description	The company
Total asset turnover	An activity ratio calculated as total revenue divided by total assets.	Microsoft Corp.’s total asset turnover improved from 2017 to 2018 and from 2018 to 2019.

Microsoft Corp., equity turnover calculation, comparison to benchmarks

		Jun 30, 2019	Jun 30, 2018	Jun 30, 2017	Jun 30, 2016	Jun 30, 2015	Jun 30, 2014
	Selected Financial Data (USD $ in millions)
	Revenue
	Stockholders’ equity
	Ratio
	Equity turnover¹
	Benchmarks
	Equity Turnover, Competitors²
	Adobe Inc.
	Alphabet Inc.
	Facebook Inc.
	International Business Machines Corp.
	Intuit Inc.
	Oracle Corp.
	salesforce.com inc.
	Equity Turnover, Sector
	Software & Computer Services
	Equity Turnover, Industry
	Technology

Based on: 10-K (filing date: 2019-08-01), 10-K (filing date: 2018-08-03), 10-K (filing date: 2017-08-02), 10-K (filing date: 2016-07-28), 10-K (filing date: 2015-07-31), 10-K (filing date: 2014-07-31).

¹ 2019 Calculation
Equity turnover = Revenue ÷ Stockholders’ equity
= hidden ÷ hidden = hidden

² Click competitor name to see calculations.

Ratio	Description	The company
Equity turnover	An activity ratio calculated as total revenue divided by shareholders’ equity.	Microsoft Corp.’s equity turnover improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.

	Microsoft Corp.	Other companies (not purchased previously)
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Long-term Trends
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Microsoft Corp. (MSFT)

Long-term (Investment) Activity Analysis

Ratios (Summary)

Net Fixed Asset Turnover

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Total Asset Turnover

Equity Turnover