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 3,807,820 - -
Change - 31.82% 31.19% 11.29% -25.05% 37.42% - -
Enterprise Value (EV) 1 1,865,864 2,468,056 3,291,263 3,645,608 2,734,406 3,761,354 3,759,330 3,907,389
Change - 32.27% 33.35% 10.77% -24.99% 37.56% -0.05% 3.94%
P/E 26.6x 35.2x 37.9x 36.5x 20.8x 26x 21.7x 17.7x
PBR 11.5x 12.3x 12.4x 10.8x 6.26x 6.67x 5.21x 4.06x
PEG - 113.23x 1.7x 2.3x 0.7x 2.67x 1.1x 0.8x
Capitalization / Revenue 9.69x 11.9x 13.6x 13.1x 8.35x 9.74x 8.15x 6.72x
EV / Revenue 9.41x 11.6x 13.4x 12.9x 8.24x 9.62x 8.04x 6.89x
EV / EBITDA 19.1x 23.8x 25x 22.4x 13.8x 15.7x 12.7x 10.6x
EV / EBIT 22.4x 27.5x 30.1x 28.4x 17.6x 20.6x 17.3x 15x
EV / FCF 28.6x 41.5x 44.4x 50.9x 40.8x 118x 82.2x 41.4x
FCF Yield 3.49% 2.41% 2.25% 1.96% 2.45% 0.85% 1.22% 2.41%
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% 0.76% 0.83% 0.86%
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 89,694 109,433 128,528 155,237 182,183 217,088 261,270
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 2 256.83 340.54 446.95 497.41 373.02 512.80 512.80 512.80
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 A 7/25/23 A 7/30/24 A 7/30/25 A 7/29/26 A - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
26.04x9.62x15.73x0.77% 3,809B
122.44x53.43x86.72x-.--% 449B
20.67x5.89x10.32x1.45% 416B
252.08x22.5x65.87x-.--% 325B
2647.5x44.38x142.94x-.--% 272B
26.28x5.27x16.62x1.44% 243B
86.75x8.42x22.54x-.--% 139B
57.81x15.57x41.01x-.--% 131B
18.54x11.83x14.1x-.--% 97.19B
Average 362.01x 19.66x 46.21x 0.41% 653.47B
Weighted average by Cap. 168.63x 14.98x 30.15x 0.66%

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