Companies / Microsoft COMPANY FILINGS
Microsoft MSFT What does Microsoft do? Microsoft develops software, cloud services and devices for individuals and businesses. Its products include Microsoft 365 for productivity, Azure for cloud computing, Windows for personal computers, Dynamics for business applications, LinkedIn for professional networking and Xbox for gaming. It also provides software development tools, technical support, consulting and online advertising. Its offerings span subscriptions, licensed software, cloud services and physical devices.
View detail Hide detail Company overview · FY2026 Year ended 2026-06-30 · Read the full 10-K on SEC EDGAR (opens in a new tab)
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Business description: FY2026 CIK 0000789019 Source: SEC EDGAR
Overview 10-K summary Balance sheet Original filings
Annual reports 10
Report coverage 2017–2026
Financial statement focus Balance sheet READ THE FILING
Annual report insights AI summary AI-generated summaries of the cited 10-K filings. For informational purposes only; not personalized investment advice.
Choose a fiscal year FY2026 FY2025 FY2024 FY2023 FY2022 Fiscal 2026 revenue rose 18% from fiscal 2025, which Microsoft attributed to Microsoft Cloud growth. Azure and other cloud services revenue increased 41%.
Source: 2026 The filing warns that cloud and AI investments may not generate revenue at expected levels or within expected timeframes. Overestimating demand could leave infrastructure underused and lead to asset impairments.
Source: 2026 View full 10-K summary 2026 Hide full 10-K summary 2026 Signals describe observations in the selected filing, not forecasts or investment ratings. Risk disclosures do not establish that a loss occurred.
Negative signals Cloud investments may underdeliver The filing warns that cloud and AI investments may not generate revenue at expected levels or within expected timeframes. Overestimating demand could leave infrastructure underused and lead to asset impairments.
Source: 2026 XBOX revenue declined XBOX revenue fell 7% in fiscal 2026 versus fiscal 2025, with declines in content and services and hardware. Microsoft reported a 29% decline in hardware revenue, attributing it to lower console sales volume.
Source: 2026 Business context Cash flow and investment increased Fiscal 2026 operating cash flow increased to $182.9 billion. Cash spending on property and equipment increased by $51.4 billion from fiscal 2025.
Source: 2026 Microsoft disputes IRS adjustments The filing reports that the IRS is seeking $28.9 billion in additional taxes, plus penalties and interest, primarily over intercompany transfer pricing for tax years 2004–2013. Microsoft disputes the proposed adjustments and says it will contest them.
Source: 2026 Business in fiscal 2026 Microsoft develops software, services, and devices for individuals and businesses, spanning AI, cloud computing, productivity, collaboration, and personal computing.
Source: 2026
5-year changes FY2022–FY2026 AI comparison of the five fiscal years ending in this report year. Later filings are excluded.
Cash flow rose after 2023 Cash generation increased after the decline in fiscal 2023. Operating cash flow was $89.0 billion in 2022, $87.6 billion in 2023, $118.5 billion in 2024, $136.2 billion in 2025, and $182.9 billion in 2026, using figures from each year’s filing.
Source: 2022 , 2023 , 2024 , 2025 , 2026 Reported Azure growth rates varied Azure and other cloud services revenue grew 45% in fiscal 2022, 30% in 2024, 34% in 2025, and 41% in 2026. The existing summary coverage does not include the fiscal 2023 rate, so this is a set of selected observations rather than a complete annual series.
Source: 2022 , 2024 , 2025 , 2026 Acquisitions and reporting affect comparability Acquisitions and reporting changes affect the period’s comparability. Microsoft completed the Nuance acquisition for $18.8 billion on March 4, 2022, primarily in cash, consolidating its results from acquisition within Intelligent Cloud. It completed the Activision Blizzard acquisition for $75.4 billion on October 13, 2023, primarily in cash, reporting that business within More Personal Computing. In fiscal 2025, it brought Microsoft 365’s commercial components together in Productivity and Business Processes and recast prior-period segment information.
Source: 2022 , 2024 , 2025 Request a correction In fiscal 2025, Azure and other cloud services revenue grew 34% from fiscal 2024. Microsoft attributed the decline in Microsoft Cloud gross margin to 69% to scaling AI infrastructure, partly offset by Azure efficiency gains.
Source: 2025 The filing identifies cyberattacks and security vulnerabilities as risks that could reduce revenue, increase costs, trigger liability claims, or harm Microsoft's reputation or competitive position.
Source: 2025 View full 10-K summary 2025 Hide full 10-K summary 2025 Signals describe observations in the selected filing, not forecasts or investment ratings. Risk disclosures do not establish that a loss occurred.
Positive signals Azure grew; cloud margin fell In fiscal 2025, Azure and other cloud services revenue grew 34% from fiscal 2024. Microsoft attributed the decline in Microsoft Cloud gross margin to 69% to scaling AI infrastructure, partly offset by Azure efficiency gains.
Source: 2025 Negative signals Cyberattacks could harm operations The filing identifies cyberattacks and security vulnerabilities as risks that could reduce revenue, increase costs, trigger liability claims, or harm Microsoft's reputation or competitive position.
Source: 2025 Business context Property and equipment spending rose Microsoft generated $136.2 billion in operating cash flow in fiscal 2025. Cash additions to property and equipment increased to $64,551 million from $44,477 million in fiscal 2024.
Source: 2025 Microsoft 365 segment reporting changed For fiscal 2025, Microsoft changed its segment composition, bringing Microsoft 365's commercial components together in Productivity and Business Processes. Prior-period segment information was recast to match the new reporting structure.
Source: 2025 Microsoft disputes additional taxes The filing reports that the IRS is seeking $28.9 billion in additional taxes, plus penalties and interest. Microsoft disputes the proposed adjustments and says it will contest them through administrative appeals and, if necessary, court proceedings.
Source: 2025 Business in fiscal 2025 Microsoft provides business productivity software through Microsoft 365 and cloud services through Azure, which customers use to build, deploy, and manage applications.
Source: 2025 Request a correction In fiscal 2024, Microsoft Cloud revenue rose 23% to $137.4 billion. Azure and other cloud services revenue grew 30%, which Microsoft attributed to growth in consumption-based services.
Source: 2024 The filing identifies a risk that revenue growth from cloud and AI services may not keep pace with infrastructure and development investments.
Source: 2024 View full 10-K summary 2024 Hide full 10-K summary 2024 Signals describe observations in the selected filing, not forecasts or investment ratings. Risk disclosures do not establish that a loss occurred.
Business context Activision Blizzard acquired Microsoft completed its Activision Blizzard acquisition on October 13, 2023, for $75.4 billion, primarily in cash. The acquired business is reported within More Personal Computing.
Source: 2024 Capital spending expected to rise Operating cash flow reached $118.5 billion in fiscal 2024. Microsoft said it expected capital expenditures to increase in coming years to support cloud growth and investments in AI infrastructure and training.
Source: 2024 Microsoft contests IRS adjustments For tax years 2004–2013, the IRS sought an additional $28.9 billion plus penalties and interest through proposed adjustments. Microsoft disagreed and said it would contest them through administrative appeals and, if necessary, court proceedings.
Source: 2024 Business in fiscal 2024 Microsoft earns revenue from cloud services and content, software licensing and support, online advertising, and device sales.
Source: 2024 Request a correction Fiscal 2023 revenue increased 7% from fiscal 2022. Microsoft attributed the increase to growth in Intelligent Cloud and Productivity and Business Processes, partly offset by a decline in More Personal Computing.
Source: 2023 The filing identifies risks from flawed AI algorithms and biased datasets, warning that AI development and use could cause reputational or competitive harm or liability.
Source: 2023 View full 10-K summary 2023 Hide full 10-K summary 2023 Signals describe observations in the selected filing, not forecasts or investment ratings. Risk disclosures do not establish that a loss occurred.
Negative signals AI flaws could cause harm The filing identifies risks from flawed AI algorithms and biased datasets, warning that AI development and use could cause reputational or competitive harm or liability.
Source: 2023 Restructuring charges accompanied job cuts Microsoft recorded a $1.2 billion charge in fiscal 2023’s second quarter covering severance, hardware impairments, and lease consolidation. It reduced its workforce by approximately 10,000 jobs through the third quarter in connection with that charge.
Source: 2023 Operating cash flow fell Fiscal 2023 operating cash flow decreased $1.5 billion to $87.6 billion. Microsoft mainly attributed the decline to higher payments to employees, suppliers, and tax authorities, partly offset by increased cash received from customers.
Source: 2023 Business in fiscal 2023 Microsoft earns revenue from cloud services, software licensing and support, online advertising, and devices, serving both individuals and businesses.
Source: 2023 Request a correction Fiscal 2022 revenue grew 18% from fiscal 2021, which Microsoft attributed to growth across all three segments. Azure and other cloud services revenue grew 45%, which the company attributed to growth in consumption-based services.
Source: 2022 The filing identifies cyberattacks and security vulnerabilities as risks that could reduce revenue, increase costs, trigger liability claims, or harm Microsoft’s reputation or competitive position.
Source: 2022 View full 10-K summary 2022 Hide full 10-K summary 2022 Signals describe observations in the selected filing, not forecasts or investment ratings. Risk disclosures do not establish that a loss occurred.
Positive signals Revenue rose across all segments Fiscal 2022 revenue grew 18% from fiscal 2021, which Microsoft attributed to growth across all three segments. Azure and other cloud services revenue grew 45%, which the company attributed to growth in consumption-based services.
Source: 2022 Negative signals Cyberattacks could harm operations The filing identifies cyberattacks and security vulnerabilities as risks that could reduce revenue, increase costs, trigger liability claims, or harm Microsoft’s reputation or competitive position.
Source: 2022 Business context Nuance acquisition completed Microsoft acquired Nuance on March 4, 2022, for $18.8 billion, primarily in cash. Nuance’s results have been consolidated since acquisition within Intelligent Cloud.
Source: 2022 Operating cash flow rose Microsoft generated $89.0 billion in operating cash flow in fiscal 2022, up $12.3 billion from fiscal 2021. It spent $28.0 billion on share repurchases through its repurchase programs during fiscal 2022.
Source: 2022 Asset transfer generated tax benefit Microsoft recorded a $3.3 billion net income tax benefit in the first quarter of fiscal 2022 following the transfer of certain intangible properties from its Puerto Rico subsidiary to the United States.
Source: 2022 Business in fiscal 2022 Microsoft earns revenue from cloud services, software licensing and support, devices, and online advertising.
Source: 2022 Request a correction FINANCIAL STATEMENTS
Balance sheet A snapshot of what Microsoft owns and owes at a point in time.
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Source: 10-K · 2026-06-30 · SEC EDGAR ↗
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Annual reports & SEC 10-K filings SEC EDGAR 10 reports in this collection
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