Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
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- Cash Flow Statement
- Common-Size Income Statement
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Present Value of Free Cash Flow to Equity (FCFE)
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
- Aggregate Accruals
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Historical Valuation Ratios (Summary)
Microsoft Corp., historical price multiples (quarterly data)
Based on: 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), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30).
The analysis of the quarterly financial ratios reveals distinct trends and fluctuations over the reported periods.
- Price to Earnings (P/E) Ratio
- The P/E ratio shows an overall upward trend from late 2018, starting around the mid-20s and peaking in the high 30s during late 2023. This indicates increasing investor confidence or expectations of earnings growth over time. However, there is some variability with noticeable dips around early 2022 and mid-2024, suggesting periods of revaluation or concerns over earnings stability.
- Price to Operating Profit (P/OP) Ratio
- This ratio follows a somewhat similar pattern to the P/E ratio, with an initial rise from approximately the low to mid-20s to a peak around 31 in late 2021. Subsequently, it declines and fluctuates between approximately 22 and 30 through 2022 to mid-2024. The decrease after the peak suggests changing market perceptions regarding operational profitability relative to price.
- Price to Sales (P/S) Ratio
- The P/S ratio exhibits a consistent upward shift from about 8 at the end of 2018, reaching a high above 13 by late 2023. This increase over time could reflect a growing valuation premium on revenue, possibly due to anticipated sales growth or improving sales quality. Post-2023, a slight decline is observable, which may signal stabilization or market adjustment.
- Price to Book Value (P/BV) Ratio
- The P/BV ratio starts at 9.14 in late 2018 and gradually climbs to a peak exceeding 15 by mid-2021, indicating rising market valuations relative to the company's net asset value. After this peak, a steady decline ensues through 2024, descending below 10 by the first quarter of 2025. This downward trend post-peak could be interpreted as market reassessment of asset values or increased book value growth outpacing price appreciation.
In summary, the financial ratios suggest that the company's market valuations experienced growth and strong investor expectations between 2018 and 2021, followed by periods of valuation moderation and market recalibration from 2022 through early 2025. The P/E and P/S ratios indicate sustained confidence in earnings and sales growth, although with some volatility, whereas the P/BV ratio's decline after a peak may point to changing perceptions of the company's underlying asset value or capital efficiency.
Price to Earnings (P/E)
Microsoft Corp., historical P/E calculation (quarterly data)
| 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 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||||||||
| Net income (in millions) | |||||||||||||||||||||||||||||||||||
| Earnings per share (EPS)2 | |||||||||||||||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||||||||||||||
| P/E ratio4 | |||||||||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| P/E Ratio, Competitors5 | |||||||||||||||||||||||||||||||||||
| Accenture PLC | |||||||||||||||||||||||||||||||||||
| Adobe Inc. | |||||||||||||||||||||||||||||||||||
| Cadence Design Systems Inc. | |||||||||||||||||||||||||||||||||||
| CrowdStrike Holdings Inc. | |||||||||||||||||||||||||||||||||||
| International Business Machines Corp. | |||||||||||||||||||||||||||||||||||
| Intuit Inc. | |||||||||||||||||||||||||||||||||||
| Oracle Corp. | |||||||||||||||||||||||||||||||||||
| Palantir Technologies Inc. | |||||||||||||||||||||||||||||||||||
| Palo Alto Networks Inc. | |||||||||||||||||||||||||||||||||||
| Salesforce Inc. | |||||||||||||||||||||||||||||||||||
| ServiceNow Inc. | |||||||||||||||||||||||||||||||||||
| Synopsys Inc. | |||||||||||||||||||||||||||||||||||
| Workday Inc. | |||||||||||||||||||||||||||||||||||
Based on: 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), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30).
1 Data adjusted for splits and stock dividends.
2 Q3 2025 Calculation
EPS
= (Net incomeQ3 2025
+ Net incomeQ2 2025
+ Net incomeQ1 2025
+ Net incomeQ4 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Microsoft Corp. Quarterly or Annual Report.
4 Q3 2025 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
The quarterly financial data reveals several notable trends in share price, earnings per share (EPS), and price-to-earnings (P/E) ratio over the analyzed periods.
- Share Price
- The share price exhibited a general upward trend from September 2018 through early 2024, with fluctuations occurring intermittently. Starting at $102.32 in September 2018, it increased steadily, reaching a peak of $408.59 by December 2023. Thereafter, some volatility was observed, with the price decreasing to $395.26 in March 2025 after peaking above $442 in December 2024. The share price growth demonstrates strong market confidence over the period, despite occasional corrections.
- Earnings Per Share (EPS)
- EPS data, available from March 2019 onward, shows continuous growth across the quarters. It started at $5.14 in March 2019 and progressively increased to $13.00 by March 2025. There are minor fluctuations, such as slight decreases in certain quarters (e.g., June and September 2023), but the overall trend remains positive. This steady increase in EPS indicates improving profitability and operational performance over time.
- Price-to-Earnings (P/E) Ratio
- The P/E ratio fluctuated moderately throughout the period, with values generally ranging between approximately 25 and 36. Early values near 26.86 in March 2019 increased to as high as 36.78 around December 2023, followed by a decline to 30.40 by March 2025. The P/E ratio’s movement reflects changes in investor expectations relative to earnings growth. Its peak values coincide with periods of high share prices, while lower values correspond with share price pullbacks or increased earnings.
In summary, the company demonstrated sustained improvement in earnings and market valuation over the covered period. Earnings per share grew significantly, supporting the rise in share prices despite the periodic fluctuations in P/E ratio. The data suggests continued investor confidence aligned with consistent profitability enhancements, tempered by market adjustments towards the most recent quarters.
Price to Operating Profit (P/OP)
Microsoft Corp., historical P/OP calculation (quarterly data)
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||||||||
| Operating income (in millions) | |||||||||||||||||||||||||||||||||||
| Operating profit per share2 | |||||||||||||||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||||||||||||||
| P/OP ratio4 | |||||||||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | |||||||||||||||||||||||||||||||||||
| Accenture PLC | |||||||||||||||||||||||||||||||||||
| Adobe Inc. | |||||||||||||||||||||||||||||||||||
| Cadence Design Systems Inc. | |||||||||||||||||||||||||||||||||||
| CrowdStrike Holdings Inc. | |||||||||||||||||||||||||||||||||||
| International Business Machines Corp. | |||||||||||||||||||||||||||||||||||
| Intuit Inc. | |||||||||||||||||||||||||||||||||||
| Oracle Corp. | |||||||||||||||||||||||||||||||||||
| Palantir Technologies Inc. | |||||||||||||||||||||||||||||||||||
| Palo Alto Networks Inc. | |||||||||||||||||||||||||||||||||||
| Salesforce Inc. | |||||||||||||||||||||||||||||||||||
| ServiceNow Inc. | |||||||||||||||||||||||||||||||||||
| Synopsys Inc. | |||||||||||||||||||||||||||||||||||
| Workday Inc. | |||||||||||||||||||||||||||||||||||
Based on: 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), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30).
1 Data adjusted for splits and stock dividends.
2 Q3 2025 Calculation
Operating profit per share
= (Operating incomeQ3 2025
+ Operating incomeQ2 2025
+ Operating incomeQ1 2025
+ Operating incomeQ4 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Microsoft Corp. Quarterly or Annual Report.
4 Q3 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
The financial data exhibits several noteworthy trends over the analyzed periods. The share price demonstrated a general upward trend from September 30, 2018, through to December 31, 2021, increasing from approximately $102.32 to a peak close to $310.11. This growth was followed by some volatility and a decline into late 2022, reaching around $242.04 in December 31, 2022. Subsequently, the share price regained momentum, rising sharply through 2023 and early 2024, reaching an all-time high of $442.33 by December 31, 2024, before slightly retreating to $395.26 by March 31, 2025.
Operating profit per share (OPPS) data begins from March 31, 2019, and reveals a consistent upward trajectory throughout the periods, starting at $5.63 and steadily rising to reach $16.43 by March 31, 2025. This progression indicates sustained growth in operational profitability on a per-share basis over the years.
The price-to-operating profit (P/OP) ratio, calculated as the share price divided by the operating profit per share, reflects the market's valuation relative to operating earnings. Initially, the ratio fluctuates between 22 and 31 from 2019 to 2022, showing variability in market sentiment and valuation multiples. Notably, the P/OP ratio peaks above 30 around late 2020 and early 2021, suggesting a period of relatively high market valuation compared to profit levels. Afterward, the ratio trends downwards to a low of approximately 21.76 in September 2022, indicating more conservative valuation. In 2023 and early 2024, the ratio tends to stabilize mostly in the upper 20s, falling somewhat to about 24.05 by March 31, 2025, revealing a more moderate market valuation aligned with profit growth.
In summary, the underlying operating profitability shows steady and healthy growth, while share price movements and P/OP ratios indicate periods of fluctuating market valuation. The recent surge in the share price combined with continued increases in operating profit per share suggests growing investor confidence, notwithstanding the moderate correction observed at the end of the last period.
- Share Price Trend
- General increase from $102.32 to a peak of about $442.33, with some volatility and correction phases, particularly in late 2022 and early 2025.
- Operating Profit Per Share
- Consistent growth from $5.63 in early 2019 to $16.43 in early 2025, indicating strong operational performance.
- Price-to-Operating Profit Ratio
- Fluctuating between about 22 and 31, with a peak valuation period around 2020-2021, followed by stabilization in the mid to high 20s by 2025.
- Market Valuation Insights
- Periods of high valuation reflect optimism and potential market exuberance, whereas lower ratios indicate more cautious or value-oriented investor sentiment.
- Overall Financial Health Indication
- Data points to robust profitability growth accompanied by share price appreciation, suggesting favorable financial health with manageable valuation adjustments over time.
Price to Sales (P/S)
Microsoft Corp., historical P/S calculation (quarterly data)
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||||||||
| Revenue (in millions) | |||||||||||||||||||||||||||||||||||
| Sales per share2 | |||||||||||||||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||||||||||||||
| P/S ratio4 | |||||||||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| P/S Ratio, Competitors5 | |||||||||||||||||||||||||||||||||||
| Accenture PLC | |||||||||||||||||||||||||||||||||||
| Adobe Inc. | |||||||||||||||||||||||||||||||||||
| Cadence Design Systems Inc. | |||||||||||||||||||||||||||||||||||
| CrowdStrike Holdings Inc. | |||||||||||||||||||||||||||||||||||
| International Business Machines Corp. | |||||||||||||||||||||||||||||||||||
| Intuit Inc. | |||||||||||||||||||||||||||||||||||
| Oracle Corp. | |||||||||||||||||||||||||||||||||||
| Palantir Technologies Inc. | |||||||||||||||||||||||||||||||||||
| Palo Alto Networks Inc. | |||||||||||||||||||||||||||||||||||
| Salesforce Inc. | |||||||||||||||||||||||||||||||||||
| ServiceNow Inc. | |||||||||||||||||||||||||||||||||||
| Synopsys Inc. | |||||||||||||||||||||||||||||||||||
| Workday Inc. | |||||||||||||||||||||||||||||||||||
Based on: 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), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30).
1 Data adjusted for splits and stock dividends.
2 Q3 2025 Calculation
Sales per share
= (RevenueQ3 2025
+ RevenueQ2 2025
+ RevenueQ1 2025
+ RevenueQ4 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Microsoft Corp. Quarterly or Annual Report.
4 Q3 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
The quarterly financial data reveal several notable trends for the analyzed periods. The share price demonstrates a general upward trajectory from late 2018 through mid-2024, with some fluctuations. Initially, the price moved from approximately 102 US$ in September 2018 to peak levels around 442 US$ in December 2024. Noteworthy are intermittent dips, particularly after December 2021 and towards the end of the series in 2025, indicating possible market adjustments or external influences affecting valuation.
Sales per share show a consistent and steady increase across all available quarters, starting at 16.48 US$ around March 2019 and rising progressively to 36.33 US$ in March 2025. This indicates ongoing growth in revenue generation on a per-share basis, reflecting possibly effective business expansion or improved operational efficiency over the analyzed periods.
The Price-to-Sales (P/S) ratio, which offers a valuation metric relative to sales, exhibits more variability. Early on, the ratio hovers in the 8 to 11 range, reaching its highest point of 13.34 around March 2024. This peak suggests a period when market valuation outpaced sales growth, potentially highlighting heightened investor optimism or speculative factors. More recently, the P/S ratio experiences a decrease to around 10.88 by March 2025, signifying either a relative undervaluation or stronger sales growth catching up with the price levels.
- Share Price
- Shows overall long-term appreciation with some volatility, increasing from approximately 102 US$ to over 400 US$ within the observed timeframe.
- Sales per Share
- Exhibits consistent incremental growth each quarter, nearly doubling from roughly 16.5 US$ to over 36 US$ over six years.
- Price-to-Sales Ratio
- Fluctuates moderately, peaking in early 2024 and then declining, which may indicate changing market perceptions of valuation relative to sales.
In summary, the data reflect sustained revenue growth alongside share price appreciation. The varying P/S ratio suggests periods of relative overvaluation and correction, indicating evolving investor sentiment and market dynamics. Overall, the financial trends suggest robust underlying business performance with periods of valuation reassessment.
Price to Book Value (P/BV)
Microsoft Corp., historical P/BV calculation (quarterly data)
| 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 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||||||||
| Stockholders’ equity (in millions) | |||||||||||||||||||||||||||||||||||
| Book value per share (BVPS)2 | |||||||||||||||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||||||||||||||
| P/BV ratio4 | |||||||||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | |||||||||||||||||||||||||||||||||||
| Accenture PLC | |||||||||||||||||||||||||||||||||||
| Adobe Inc. | |||||||||||||||||||||||||||||||||||
| Cadence Design Systems Inc. | |||||||||||||||||||||||||||||||||||
| CrowdStrike Holdings Inc. | |||||||||||||||||||||||||||||||||||
| International Business Machines Corp. | |||||||||||||||||||||||||||||||||||
| Intuit Inc. | |||||||||||||||||||||||||||||||||||
| Oracle Corp. | |||||||||||||||||||||||||||||||||||
| Palantir Technologies Inc. | |||||||||||||||||||||||||||||||||||
| Palo Alto Networks Inc. | |||||||||||||||||||||||||||||||||||
| Salesforce Inc. | |||||||||||||||||||||||||||||||||||
| ServiceNow Inc. | |||||||||||||||||||||||||||||||||||
| Synopsys Inc. | |||||||||||||||||||||||||||||||||||
| Workday Inc. | |||||||||||||||||||||||||||||||||||
Based on: 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), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30).
1 Data adjusted for splits and stock dividends.
2 Q3 2025 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Microsoft Corp. Quarterly or Annual Report.
4 Q3 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
The quarterly financial data reveals several notable trends in valuation and equity metrics over the observed periods.
- Share Price
- The share price exhibited a generally upward trajectory with periodic fluctuations. Starting from $102.32 in late 2018, the price increased steadily, reaching a peak of approximately $330.72 by third quarter of 2023. Subsequently, there was a sharp rise to $408.59 by the end of 2023, followed by some volatility and a slight decline towards $395.26 by the first quarter of 2025. Overall, the share price increased by nearly fourfold over the span of the data.
- Book Value Per Share (BVPS)
- Book value per share showed a consistent positive growth throughout the entire period. Beginning at $11.20 in late 2018, the BVPS increased steadily quarter-over-quarter, reaching $43.31 by the first quarter of 2025. This growth indicates continuous enhancement in the underlying equity base per share without any evident reversal or stagnation.
- Price-to-Book Value (P/BV) Ratio
- The P/BV ratio displayed more volatility compared to the other metrics. While the ratio started at 9.14 in late 2018, it rose to a peak exceeding 15 by mid-2021, reflecting a period when the share price grew faster relative to book value. Following this peak, the ratio declined to around 9.13 by early 2025, indicating that the share price growth slowed relative to book value increases or the book value growth outpaced share price at the end of the period. Notably, P/BV values above 10 were sustained for several quarters, suggesting a market premium over book value during those times.
In summary, the data reveals a strong growth trajectory in both share price and book value per share, with share price appreciating at a faster and more variable rate causing fluctuating price-to-book ratios. The long-term increases in book value per share signify strengthening equity foundations, whereas the oscillations in P/BV ratios indicate changing market sentiment and valuation multiples over time.