Microsoft (MSFT) FY2017 results: revenue $96.6 billion, up 5.9% on the year
Microsoft Corp. (MSFT) reported revenue of $96.6 billion for fiscal 2017, the year ended 30 June 2017, up 5.9% on the year before. Net income was $25.5 billion, up 24.1%, and diluted earnings per share $3.25. The figures are the company's own, from the 10-K it filed with the SEC on 3 August 2018.
Revenue
$96.6 billion
+5.9% on the year
FY2010FY2017
Operating margin
30.1%
28.6% a year earlier
FY2010FY2017
Net income
$25.5 billion
+24.1% on the year
FY2010FY2017
Diluted EPS
$3.25
+27.0% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
96,571
91,154
93,580
+5.9%
Cost of revenue
34,261
32,780
33,038
+4.5%
Gross profit
62,310
58,374
60,542
+6.7%
Gross margin
64.5%
64.0%
64.7%
Research and development
13,037
11,988
12,046
+8.8%
Operating income
29,025
26,078
18,161
+11.3%
Operating margin
30.1%
28.6%
19.4%
Interest expense
2,222
1,243
781
+78.8%
Pre-tax income
29,901
25,639
18,507
+16.6%
Income tax
4,412
5,100
6,314
-13.5%
Effective tax rate
14.8%
19.9%
34.1%
Net income
25,489
20,539
12,193
+24.1%
Net margin
26.4%
22.5%
13.0%
Diluted EPS
$3.25
$2.56
$1.48
+27.0%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
39,507
33,325
29,668
+18.6%
Capital expenditure
8,129
8,343
5,944
-2.6%
Free cash flow
31,378
24,982
23,724
+25.6%
Free cash flow margin
32.5%
27.4%
25.4%
Cash from investing
-46,781
-23,950
n/a
Cash from financing
8,408
-8,393
n/a
Depreciation and amortisation
7,800
5,878
5,400
+32.7%
Share-based compensation
3,266
2,668
2,574
+22.4%
Buybacks
11,788
15,969
14,443
-26.2%
Dividends paid
11,845
11,006
9,882
+7.6%
Dividend per share
$1.56
$1.44
$1.24
+8.3%
Diluted shares, weighted
7,832m
8,013m
8,254m
-2.3%
Shares outstanding at period end
7,708m
7,808m
8,027m
-1.3%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
87,711
83,090
80,083
+5.6%
Debt
86,194
53,461
35,292
+61.2%
Operating lease liabilities
5,372
n/a
n/a
Other liabilities
71,035
57,143
59,097
+24.3%
Total liabilities and equity
250,312
193,694
174,472
+29.2%
Fixed assets
23,734
18,356
14,731
+29.3%
Goodwill
35,122
17,872
16,939
+96.5%
Intangible assets
10,106
3,733
4,835
+170.7%
Investments
131,341
117,161
102,984
+12.1%
Cash and equivalents
7,663
6,510
5,595
+17.7%
Receivables
22,431
18,277
17,908
+22.7%
Inventory
2,181
2,251
2,902
-3.1%
Other assets
17,734
9,534
8,578
+86.0%
Total assets
250,312
193,694
174,472
+29.2%
10-K for the year ended 30 June 2017, filed 3 August 2018: the filing.