Microsoft (MSFT) FY2025 results: revenue $281.7 billion, up 14.9% on the year
Microsoft Corp. (MSFT) reported revenue of $281.7 billion for fiscal 2025, the year ended 30 June 2025, up 14.9% on the year before. Net income was $101.8 billion, up 15.5%, and diluted earnings per share $13.64. The figures are the company's own, from the 10-K it filed with the SEC on 30 July 2025.
Revenue
$281.7 billion
+14.9% on the year
FY2018FY2025
Operating margin
45.6%
44.6% a year earlier
FY2018FY2025
Net income
$101.8 billion
+15.5% on the year
FY2018FY2025
Diluted EPS
$13.64
+15.6% on the year
FY2018FY2025
this yearthe year beforeHover a bar for its figure.
$ 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
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
136,162
118,548
87,582
+14.9%
Capital expenditure
64,551
44,477
28,107
+45.1%
Free cash flow
71,611
74,071
59,475
-3.3%
Free cash flow margin
25.4%
30.2%
28.1%
Cash from investing
-72,599
-96,970
-22,680
Cash from financing
-51,699
-37,757
-43,935
Depreciation and amortisation
28,000
20,000
13,500
+40.0%
Share-based compensation
11,974
10,734
9,611
+11.6%
Buybacks
18,420
17,254
22,245
+6.8%
Dividends paid
24,082
21,771
19,800
+10.6%
Dividend per share
$3.32
$3.00
$2.72
+10.7%
Diluted shares, weighted
7,465m
7,469m
7,472m
-0.1%
Shares outstanding at period end
7,434m
7,434m
7,432m
0.0%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
343,479
268,477
206,223
+27.9%
Debt
43,151
51,630
47,237
-16.4%
Operating lease liabilities
17,437
15,497
12,728
+12.5%
Other liabilities
214,936
176,559
145,788
+21.7%
Total liabilities and equity
619,003
512,163
411,976
+20.9%
Fixed assets
204,966
135,591
95,641
+51.2%
Goodwill
119,509
119,220
67,886
+0.2%
Intangible assets
22,604
27,597
9,366
-18.1%
Investments
79,728
71,828
86,437
+11.0%
Cash and equivalents
30,242
18,315
34,704
+65.1%
Receivables
69,905
56,924
48,688
+22.8%
Inventory
938
1,246
2,500
-24.7%
Other assets
91,111
81,442
66,754
+11.9%
Total assets
619,003
512,163
411,976
+20.9%
10-K for the year ended 30 June 2025, filed 30 July 2025: the filing.