MICROSOFT CORP
MSFT · Nasdaq · CIK 0000789019
SIC 7372
Services-Prepackaged Software
Category
Technology
Entity
operating
Incorp.
WA
Fiscal Y/E
0630
Source: SEC EDGAR · All filings on SEC →
Investment Indicators
$412.68
-2.44 (-0.59%)
Open
$407.77
High
$412.68
Low
$405.50
Prev Close
$415.12
Volume
22,616,513
52W High
$552.24
52W Low
$356.28
50-day MA
$397.88
Quote as of: 2026-05-11
Market Cap
$3.13T
P/E
25.03
P/B
7.42
PEG
1.28
EPS
16.81
BPS
55.78
Dividend Yield
0.86%
Beta
1.09
ROE
29.65%
ROA
16.45%
D/E Ratio
0.80
Current Ratio
1.35
Gross Margin
310.31%
Operating Margin
205.70%
Net Margin
162.97%
Book Value/Share
$46.20
Intrinsic Value Estimates
Multiple valuation methods, each with its own assumptions — outputs can diverge widely
Median consensus (7 methods)
$887.12B
| Method | Implied market cap | vs current |
|---|---|---|
Graham Number √(22.5 × 순이익 × 자본) | $887.12B | +252% |
Graham Formula 순이익 × (8.5 + 2 × 성장률%) | $4.03T | -22% |
Justified P/E 순이익 × 산업 평균 P/E | $1.53T | +105% |
P/B 배수 자본 × 산업 평균 P/B | $515.22B | +507% |
P/S 배수 매출 × 산업 평균 P/S | $124.97B | +2401% |
DCF (Gordon) CF × (1+g) / (r − g) | $2.53T | +24% |
DDM (Gordon) D × (1+g) / (r − g) | $850.90B | +267% |
▶ Detailed analysis — formula walk-through & scenarios
Why this conclusion
Of the 7 valuation methods, 7 were applicable. Their median fair-value lands +252.3% below the current market cap → the stock trades above most formulas' estimates (overvalued). 5 methods flag overvalued, 1 flag undervalued, the rest land within fair range. Read each formula's assumptions below before treating any single number as the answer.
Graham Number
Overvalued +252.3%√(22.5 × 순이익 × 자본)
Current
$3.13T
Implied fair
$887.12B
Gap (current − fair)
+$2.24T(+252.3%)
NetIncome = $101.83B Equity = $343.48B √(22.5 × $101.83B × $343.48B) = $887.12B
- 최대 PER 15배
- 최대 PBR 1.5배
- 안정적 흑자 기업 가정 (금융·고성장 부정확)
Graham Formula
Undervalued -22.4%순이익 × (8.5 + 2 × 성장률%)
Current
$3.13T
Implied fair
$4.03T
Gap (current − fair)
$-904.77B(-22.4%)
NetIncome = $101.83B Growth g = 15.5% → cap 15.5% Multiple = 8.5 + 2 × 15.5 = 39.6× $101.83B × 39.6 = $4.03T
- EPS 성장률 15.5%/년 가정 (직전 1년 기준)
- 무성장 기업 P/E = 8.5
- 현재 적용 배수: 39.6x
Justified P/E
Overvalued +104.6%순이익 × 산업 평균 P/E
Current
$3.13T
Implied fair
$1.53T
Gap (current − fair)
+$1.60T(+104.6%)
NetIncome = $101.83B Industry P/E = 15× $101.83B × 15 = $1.53T
- 산업 평균 PER 15x 가정 (사용자 정의 가능)
- 동종 업종 비교가 핵심 — 산업별 평균 P/E 사용 권장
P/B 배수
Overvalued +506.7%자본 × 산업 평균 P/B
Current
$3.13T
Implied fair
$515.22B
Gap (current − fair)
+$2.61T(+506.7%)
Equity = $343.48B Industry P/B = 1.5× $343.48B × 1.5 = $515.22B
- 산업 평균 PBR 1.5x 가정
- 은행·보험·자산집약적 산업에 특히 유효
P/S 배수
Overvalued +2401.2%매출 × 산업 평균 P/S
Current
$3.13T
Implied fair
$124.97B
Gap (current − fair)
+$3.00T(+2401.2%)
Revenue = $62.48B Industry P/S = 2× $62.48B × 2 = $124.97B
- 산업 평균 PSR 2x 가정
- 매출 기반 — 적자 기업·신생 기업에 적용 가능
- 이익률 차이 무시
DCF (Gordon)
Fair +23.5%CF × (1+g) / (r − g)
Current
$3.13T
Implied fair
$2.53T
Gap (current − fair)
+$595.41B(+23.5%)
FCF = $71.61B Discount r = 4.0% + 5.0% = 9.0% Growth g = 6.0% $71.61B × (1 + 6.0%) / (9.0% − 6.0%) = $2.53T
- 현금흐름 입력: FCF (잉여현금흐름)
- 할인율 9.0% (무위험 4.0% + 주식위험프리미엄 5.0%)
- 영구 성장률 6.0% (실질 GDP 수준)
DDM (Gordon)
Overvalued +267.3%D × (1+g) / (r − g)
Current
$3.13T
Implied fair
$850.90B
Gap (current − fair)
+$2.27T(+267.3%)
Dividend D = $24.08B Discount r = 9.0% Growth g = 6.0% $24.08B × (1 + 6.0%) / (9.0% − 6.0%) = $850.90B
- 배당 입력: 실제 지급 배당
- 할인율 9.0%
- 배당 영구 성장률 6.0%
DCF sensitivity: discount rate × terminal growth
Each cell is the (current vs FCF × (1+g) / (r − g)) discount % under the assumed growth g and discount r.
| g \ r | 7% | 8% | 9% | 10% | 11% |
|---|---|---|---|---|---|
| 1% | +159.3% | +202.5% | +245.7% | +288.9% | +332.2% |
| 2% | +114.0% | +156.8% | +199.5% | +242.3% | +285.1% |
| 3% | +69.5% | +111.9% | +154.3% | +196.6% | +239.0% |
| 4% | +25.9% | +67.9% | +109.8% | +151.8% | +193.8% |
| 5% | -16.9% | +24.7% | +66.3% | +107.8% | +149.4% |
DDM sensitivity: discount rate × dividend growth
Each cell is the discount % vs Dividend × (1+g) / (r − g) under the assumed growth g and discount r.
| g \ r | 7% | 8% | 9% | 10% | 11% |
|---|---|---|---|---|---|
| 1% | +671.0% | +799.6% | +928.1% | +1056.6% | +1185.1% |
| 2% | +536.2% | +663.5% | +790.7% | +918.0% | +1045.2% |
| 3% | +404.0% | +530.1% | +656.1% | +782.1% | +908.1% |
| 4% | +274.4% | +399.2% | +524.0% | +648.8% | +773.6% |
| 5% | +147.2% | +270.8% | +394.4% | +518.1% | +641.7% |
All estimates rest on strong assumptions. Treat the spread, not any single number, as the signal.
Financial Statements
In USD millions (per-share figures shown directly) · Financials as of: 2025-07-30
Income Statement
| FY | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Gross Profit | 193,893 | 171,008 | 146,052 | 135,620 | 115,856 |
| Operating Expenses | 65,365 | — | — | — | — |
| Operating Income | 128,528 | 109,433 | 88,523 | 83,383 | 69,916 |
| Net Income | 101,832 | 88,136 | 72,361 | 72,738 | 61,271 |
| EPS (Basic) | 13.70 | 11.86 | 9.72 | 9.70 | 8.12 |
| EPS (Diluted) | 13.64 | 11.80 | 9.68 | 9.65 | 8.05 |
Balance Sheet
| FY | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total Assets | 619,003 | 512,163 | 411,976 | 364,840 | 333,779 |
| Current Assets | 191,131 | 159,734 | 184,257 | 169,684 | 184,406 |
| Cash & Equivalents | 30,242 | 18,315 | 34,704 | 13,931 | 14,224 |
| Total Liabilities | 275,524 | 243,686 | 205,753 | 198,298 | 191,791 |
| Current Liabilities | 141,218 | 125,286 | 104,149 | 95,082 | 88,657 |
| Long-term Debt | 43,151 | 44,937 | 47,237 | 49,781 | 58,146 |
| Total Equity | 343,479 | 268,477 | 206,223 | 166,542 | 141,988 |
Cash Flow
| FY | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating CF | 136,162 | 118,548 | 87,582 | 89,035 | 76,740 |
| Investing CF | -72,599 | -96,970 | -22,680 | -30,311 | -27,577 |
| Financing CF | -51,699 | -37,757 | -43,935 | -58,876 | -48,486 |
| CapEx | 64,551 | 44,477 | 28,107 | 23,886 | 20,622 |
| Dividends Paid | 24,082 | 21,771 | 19,800 | 18,135 | 16,521 |
📄 SEC Filings
Quarterly Report
10-Q
2026-04-29
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Current Report
8-K
2026-04-29
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Quarterly Report
10-Q
2026-01-28
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Current Report
8-K
2026-01-28
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Current Report
8-K
2025-12-08
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Quarterly Report
10-Q
2025-10-29
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Current Report
8-K
2025-10-29
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Proxy Statement
DEF 14A
2025-10-21
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Other filings (92)
SCHEDULE 13G
xslSCHEDULE_13G_X02/primary_doc.xml
2026-04-30
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Insider Transaction
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
2026-04-15
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SCHEDULE 13G/A
xslSCHEDULE_13G_X02/primary_doc.xml
2026-03-27
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11-K
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2026-03-24
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2026-03-16
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2026-03-13
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STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
2026-03-13
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Insider Transaction
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
2026-03-13
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Insider Transaction
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
2026-03-13
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Insider Transaction
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
2026-03-13
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Insider Transaction
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
2026-03-13
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Insider Transaction
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2026-03-13
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2026-03-13
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144
xsl144X01/primary_doc.xml
2026-03-06
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2026-03-03
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STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
2026-03-03
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Insider Transaction
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
2026-03-03
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STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
2026-03-03
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Insider Transaction
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
2026-03-03
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Insider Transaction
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
2026-03-03
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STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
2026-03-03
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2026-02-18
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2026-02-17
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2026-02-03
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2026-02-03
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2026-02-03
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2026-02-03
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2026-02-03
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2026-02-03
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STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
2026-02-03
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Insider Transaction
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2026-02-03
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Insider Transaction
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
2026-02-03
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2026-02-03
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IRANNOTICE
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2026-01-28
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2026-01-15
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S-8
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2025-12-30
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S-8 POS
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2025-12-30
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S-8 POS
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S-8
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2025-12-30
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2025-12-16
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2025-12-16
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Insider Transaction
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2025-12-12
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2025-12-12
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2025-12-12
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2025-12-12
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2025-12-12
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STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
2025-12-12
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3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
2025-12-08
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Insider Transaction
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2025-12-05
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Insider Transaction
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2025-12-05
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2025-12-05
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2025-12-05
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2025-12-05
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2025-12-05
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2025-12-05
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2025-12-05
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2025-12-05
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2025-12-05
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2025-12-05
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PX14A6G
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2025-12-04
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2025-12-03
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144
xsl144X01/primary_doc.xml
2025-12-03
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2025-12-02
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2025-12-02
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144
xsl144X01/primary_doc.xml
2025-12-02
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2025-11-21
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PX14A6G
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2025-11-19
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2025-11-17
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2025-11-12
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PX14A6G
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PX14A6G
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2025-11-12
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PX14A6G
j1111251px14a6g.htm
2025-11-12
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PX14A6G
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2025-11-12
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2025-11-07
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PX14A6G
px14a6g14098msft_11062025.htm
2025-11-06
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DEFA14A
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2025-11-05
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Insider Transaction
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2025-11-04
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144
xsl144X01/primary_doc.xml
2025-11-03
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DEFA14A
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2025-10-31
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PX14A6G
w1029250px14a6g.htm
2025-10-29
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PX14A6G
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2025-10-22
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ARS
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2025-10-21
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DEFA14A
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PX14A6G
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2025-10-16
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PX14A6G
i1016250px14a6g.htm
2025-10-16
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