Company Valuation: Microsoft Corporation

Data adjusted to current consolidation scope
Fiscal Period: June 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 1,920,840 2,532,081 3,321,869 3,697,022 2,770,955 3,842,943 - -
Change - 31.82% 31.19% 11.29% -25.05% 38.69% - -
Enterprise Value (EV) 1 1,865,864 2,468,056 3,291,263 3,645,608 2,734,406 3,796,477 3,794,453 3,942,512
Change - 32.27% 33.35% 10.77% -24.99% 38.84% -0.05% 3.9%
P/E 26.6x 35.2x 37.9x 36.5x 20.8x 26.3x 22x 17.9x
PBR 11.5x 12.3x 12.4x 10.8x 6.26x 6.73x 5.26x 4.1x
PEG - 113.23x 1.7x 2.3x 0.7x 2.7x 1.1x 0.8x
Capitalization / Revenue 9.69x 11.9x 13.6x 13.1x 8.35x 9.83x 8.22x 6.78x
EV / Revenue 9.41x 11.6x 13.4x 12.9x 8.24x 9.71x 8.12x 6.96x
EV / EBITDA 19.1x 23.8x 25x 22.4x 13.8x 15.9x 12.8x 10.7x
EV / EBIT 22.4x 27.5x 30.1x 28.4x 17.6x 20.8x 17.5x 15.1x
EV / FCF 28.6x 41.5x 44.4x 50.9x 40.8x 119x 82.9x 41.8x
FCF Yield 3.49% 2.41% 2.25% 1.96% 2.45% 0.84% 1.21% 2.39%
Dividend per Share 2 2.48 2.72 3 3.32 3.64 3.895 4.26 4.421
Rate of return 0.97% 0.8% 0.67% 0.67% 0.98% 0.75% 0.82% 0.85%
EPS 2 9.65 9.68 11.8 13.64 17.95 19.7 23.58 28.92
Distribution rate 25.7% 28.1% 25.4% 24.3% 20.3% 19.8% 18.1% 15.3%
Net sales 1 198,270 211,915 245,122 281,724 331,839 391,043 467,314 566,859
EBITDA 1 97,843 103,555 131,720 162,681 198,685 239,228 295,289 369,949
EBIT 1 83,383 89,694 109,433 128,528 155,237 182,183 217,088 261,677
Net income 1 72,738 72,361 88,136 101,832 133,749 146,975 175,788 213,092
Net Debt 1 -54,976 -64,025 -30,606 -51,414 -36,549 -46,466 -48,490 99,570
Reference price 2 256.83 340.54 446.95 497.41 373.02 517.53 517.53 517.53
Nbr of stocks (in thousands) 7,479,033 7,435,488 7,432,306 7,432,544 7,428,435 7,425,545 - -
Announcement Date 7/26/22 7/25/23 7/30/24 7/30/25 7/29/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
26.27x9.71x15.87x0.75% 3,843B
121.59x53.78x87.57x-.--% 454B
21.42x6.06x10.62x1.4% 431B
255.85x22.84x66.87x-.--% 330B
2700.4x45.28x148.08x-.--% 277B
26.03x5.22x16.46x1.46% 239B
86.99x8.45x22.61x-.--% 139B
58.52x15.77x41.53x-.--% 133B
495.26x21.25x83.97x-.--% 99.54B
Average 421.37x 20.93x 54.84x 0.4% 660.56B
Weighted average by Cap. 180.55x 15.31x 31.85x 0.65%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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  5. Valuation Microsoft Corporation