Microsoft - Public Comps and Valuation Multiples

Microsoft Overview

About Microsoft

Microsoft develops and licenses consumer and enterprise software. It is known for its Windows operating systems and Office productivity suite. The company is organized into three equally sized broad segments: productivity and business processes (legacy Microsoft Office, cloud-based Office 365, Exchange, SharePoint, Skype, LinkedIn, Dynamics), intelligence cloud (infrastructure- and platform-as-a-service offerings Azure, Windows Server OS, SQL Server), and more personal computing (Windows Client, Xbox, Bing search, display advertising, and Surface laptops, tablets, and desktops).

Founded

1975

HQ

Employees

228K+

Website

microsoft.com

Sectors

Productivity Software
AI Conglomerates
Cloud Infrastructure
Gaming - Console & PC
Search Engines
B2B SaaS
Horizontal SaaS

Financials

LTM Revenue $291B

LTM EBITDA $168B

EV

$3.80T

Valuation Multiples

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Microsoft Financials

As of August 2025, Microsoft reported last 12-month revenue of $291B and EBITDA of $168B.

In the same period, Microsoft generated $199B in LTM gross profit and $105B in net income.

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Microsoft P&L

In the most recent fiscal year, Microsoft reported revenue of $282B and EBITDA of $160B.

Microsoft expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$291B	XXX	$282B	XXX	XXX	XXX
Gross Profit	$199B	XXX	$194B	XXX	XXX	XXX
Gross Margin	69%	XXX	69%	XXX	XXX	XXX
EBITDA	$168B	XXX	$160B	XXX	XXX	XXX
EBITDA Margin	58%	XXX	57%	XXX	XXX	XXX
EBIT	$132B	XXX	$129B	XXX	XXX	XXX
EBIT Margin	46%	XXX	46%	XXX	XXX	XXX
Net Profit	$105B	XXX	$102B	XXX	XXX	XXX
Net Margin	36%	XXX	36%	XXX	XXX	XXX
Net Debt	XXX	XXX	$12.9B	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Microsoft including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $291B. EBITDA for the last twelve months was $168B. In the most recent fiscal year, Microsoft achieved $282B in revenue and $160B in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$291B	Analyst estimates available to subscribers	$282B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$199B	Analyst estimates available to subscribers	$194B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	68.5% gross margin	Analyst estimates available to subscribers	68.8% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$168B	Analyst estimates available to subscribers	$160B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	58.0% EBITDA margin	Analyst estimates available to subscribers	56.9% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$132B	Analyst estimates available to subscribers	$129B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	45.6% EBIT margin	Analyst estimates available to subscribers	45.6% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$105B	Analyst estimates available to subscribers	$102B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	36.1% net profit margin	Analyst estimates available to subscribers	36.1% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$12.9B	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Microsoft

This financial data table provides comprehensive performance metrics for Microsoft, a company based in United States of America. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Microsoft generated $291B in revenue over the last twelve months.
The company achieved $168B in EBITDA over the last twelve months.
Gross profit for the last twelve months was $199B.
Net income over the last twelve months reached $105B.

Fiscal Year Performance

In the most recent fiscal year, Microsoft reported $282B in total revenue.
Fiscal year EBITDA was $160B.
The company maintained a gross profit margin of 68.8% in the most recent fiscal year.
EBITDA margin for the fiscal year was 56.9%.
Net profit margin reached 36.1% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Microsoft. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Microsoft Stock Performance

Microsoft has current market cap of $3.83T, and EV of $3.80T.

Market Cap Evolution

Microsoft Stock Data

As of September 16, 2025, Microsoft's stock price is $515.

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$3.80T	$3.83T	XXX	XXX	XXX	XXX	$14.04

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Microsoft Valuation Multiples

Microsoft's trades at 14.4x EV/Revenue multiple, and 25.9x EV/EBITDA.

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Microsoft Financial Valuation Multiples

As of September 16, 2025, Microsoft has market cap of $3.83T and EV of $3.80T.

Equity research analysts estimate Microsoft's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Microsoft has a P/E ratio of 36.5x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$3.83T	XXX	$3.83T	XXX	XXX	XXX
EV (current)	$3.80T	XXX	$3.80T	XXX	XXX	XXX
EV/Revenue	13.1x	XXX	14.4x	XXX	XXX	XXX
EV/EBITDA	22.5x	XXX	25.9x	XXX	XXX	XXX
EV/EBIT	28.7x	XXX	31.9x	XXX	XXX	XXX
EV/Gross Profit	19.1x	XXX	n/a	XXX	XXX	XXX
P/E	36.5x	XXX	40.3x	XXX	XXX	XXX
EV/FCF	53.0x	XXX	52.1x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Microsoft Margins & Growth Rates

Microsoft's last 12 month revenue growth is 15%

Microsoft's revenue per employee in the last FY averaged $1.2M, while opex per employee averaged $0.3M for the same period.

Microsoft's rule of 40 is 70% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Microsoft's rule of X is 95% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Microsoft Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	15%	XXX	15%	XXX	XXX	XXX
EBITDA Margin	58%	XXX	56%	XXX	XXX	XXX
EBITDA Growth	18%	XXX	19%	XXX	XXX	XXX
Rule of 40	70%	XXX	70%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	95%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$1.2M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.3M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	9%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	12%	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	23%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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