Microsoft Corp.
Cash Flow Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $133.75B | $101.83B | $88.14B | $72.36B | $72.74B | $61.27B | $44.28B | $39.24B |
| Depreciation & Amortization | — | — | — | — | — | — | — | — |
| Depreciation | $34.30B | $22.00B | $15.20B | $11.00B | $12.60B | $9.30B | $10.70B | $9.70B |
| Amortization | $4.70B | $6.00B | $4.80B | $2.50B | $2.00B | $1.60B | $1.60B | $1.90B |
| Stock-Based Compensation | $12.41B | $11.97B | $10.73B | $9.61B | $7.50B | $6.12B | $5.29B | $4.65B |
| Net Cash from Operating Activities | $182.94B | $136.16B | $118.55B | $87.58B | $89.04B | $76.74B | $60.68B | $52.19B |
| Investing Activities | ||||||||
| Capital Expenditures | $115.95B | $64.55B | $44.48B | $28.11B | $23.89B | $20.62B | $15.44B | $13.93B |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-139.50B | $-72.60B | $-96.97B | $-22.68B | $-30.31B | $-27.58B | $-12.22B | $-15.77B |
| Financing Activities | ||||||||
| Dividends Paid | $26.45B | $24.08B | $21.77B | $19.80B | $18.14B | $16.52B | $15.14B | $13.81B |
| Stock Repurchases | $22.27B | $18.42B | $17.25B | $22.25B | $32.70B | $27.39B | $22.97B | $19.54B |
| Net Cash from Financing Activities | $-52.55B | $-51.70B | $-37.76B | $-43.94B | $-58.88B | $-48.49B | $-46.03B | $-36.89B |
| Net Change in Cash | $-9.31B | $11.93B | $-16.39B | $20.77B | $-293.0M | $648.0M | $2.22B | $-590.0M |
| Free Cash Flow | $66.99B | $71.61B | $74.07B | $59.48B | $65.15B | $56.12B | $45.23B | $38.26B |
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