Microsoft Corp.
Cash Flow Statement
| Line Item | Mar 2026 | Dec 2025 | Sep 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Mar 2024 | Dec 2023 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $31.78B | $38.46B | $27.75B | $25.82B | $24.11B | $24.67B | $21.94B | $21.87B |
| Depreciation & Amortization | — | — | — | — | — | — | — | — |
| Depreciation | $9.00B | $7.90B | $7.10B | $5.80B | $5.20B | $4.70B | — | — |
| Amortization | $1.10B | $1.20B | $1.50B | $1.50B | $1.50B | $1.40B | $1.40B | $1.30B |
| Stock-Based Compensation | $3.08B | $3.22B | $2.98B | $2.98B | $3.09B | $2.83B | $2.70B | $2.83B |
| Net Cash from Operating Activities | $46.68B | $35.76B | $45.06B | $37.04B | $22.29B | $34.18B | $31.92B | $18.85B |
| Investing Activities | ||||||||
| Capital Expenditures | $30.88B | $29.88B | $19.39B | $16.75B | $15.80B | $14.92B | $10.95B | $9.74B |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-27.41B | $-22.71B | $-34.56B | $-12.71B | $-14.11B | $-15.20B | $-10.70B | $-71.93B |
| Financing Activities | ||||||||
| Dividends Paid | $6.76B | $6.76B | $6.17B | $6.17B | $6.17B | $5.57B | $5.57B | $5.57B |
| Stock Repurchases | $4.63B | $7.42B | $5.65B | $4.78B | $4.99B | $4.11B | $4.21B | $4.00B |
| Net Cash from Financing Activities | $-11.35B | $-17.62B | $-11.80B | $-13.04B | $-11.24B | $-16.58B | $-18.81B | $-10.15B |
| Net Change in Cash | $7.81B | $-4.55B | $-1.39B | $11.35B | $-3.36B | $2.53B | $2.33B | $-63.15B |
| Free Cash Flow | $15.80B | $5.88B | $25.66B | $20.30B | $6.49B | $19.26B | $20.97B | $9.12B |
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