Microsoft (MSFT) FY2011 results: revenue $69.9 billion, up 11.9% on the year
Microsoft Corp. (MSFT) reported revenue of $69.9 billion for fiscal 2011, the year ended 30 June 2011, up 11.9% on the year before. Net income was $23.1 billion, up 23.4%, and diluted earnings per share $2.69. The figures are the company's own, from the 10-K it filed with the SEC on 28 July 2011.
Revenue
$69.9 billion
+11.9% on the year
FY2008FY2011
Operating margin
38.8%
38.6% a year earlier
FY2008FY2011
Net income
$23.1 billion
+23.4% on the year
FY2008FY2011
Diluted EPS
$2.69
+28.1% on the year
FY2008FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
69,943
62,484
58,437
+11.9%
Cost of revenue
15,577
12,395
12,155
+25.7%
Gross profit
54,366
50,089
46,282
+8.5%
Gross margin
77.7%
80.2%
79.2%
Research and development
9,043
8,714
9,010
+3.8%
Operating income
27,161
24,098
20,363
+12.7%
Operating margin
38.8%
38.6%
34.8%
Interest expense
295
151
38.0
+95.4%
Pre-tax income
28,071
25,013
19,821
+12.2%
Income tax
4,921
6,253
5,252
-21.3%
Effective tax rate
17.5%
25.0%
26.5%
Net income
23,150
18,760
14,569
+23.4%
Net margin
33.1%
30.0%
24.9%
Diluted EPS
$2.69
$2.10
$1.62
+28.1%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
26,994
24,073
19,037
+12.1%
Capital expenditure
2,355
1,977
3,119
+19.1%
Free cash flow
24,639
22,096
15,918
+11.5%
Free cash flow margin
35.2%
35.4%
27.2%
Cash from investing
-14,616
-11,314
-15,770
Cash from financing
-8,376
-13,291
-7,463
Depreciation and amortisation
2,537
2,507
2,291
+1.2%
Share-based compensation
2,166
1,891
1,708
+14.5%
Buybacks
11,555
11,269
9,353
+2.5%
Dividends paid
5,180
4,578
4,468
+13.1%
Dividend per share
$0.64
$0.52
$0.52
+23.1%
Diluted shares, weighted
8,593m
8,927m
8,996m
-3.7%
Shares outstanding at period end
8,376m
8,668m
8,908m
-3.4%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
57,083
46,175
39,558
+23.6%
Short-term borrowings
0.0
n/a
2,000
Debt
11,900
5,939
3,746
+100.4%
Other liabilities
39,721
33,999
32,584
+16.8%
Total liabilities and equity
108,704
86,113
77,888
+26.2%
Fixed assets
8,162
7,630
7,535
+7.0%
Goodwill
12,581
12,394
12,503
+1.5%
Intangible assets
744
1,158
1,759
-35.8%
Investments
54,027
39,037
30,304
+38.4%
Cash and equivalents
9,610
5,505
6,076
+74.6%
Receivables
14,987
13,014
11,192
+15.2%
Inventory
1,372
740
717
+85.4%
Other assets
7,221
6,635
7,802
+8.8%
Total assets
108,704
86,113
77,888
+26.2%
10-K for the year ended 30 June 2011, filed 28 July 2011: the filing.