SuperworthMicrosoft free cash flow MSFT
Cash from operations less capital spending, by quarter and over the last twelve months, from 1995.
- Last 12 months, to Jun 30, 2026
- $67B
- Latest quarter, Q4 FY26
- $19.6B
- −23% on a year earlier
- Fiscal year 2026
- $67B
- −6% on the year before
Microsoft's free cash flow was $67B over the twelve months to Jun 30, 2026, down 6% on a year earlier.
In its latest quarter, Q4 FY26, it was $19.6B, down 23% on the same quarter a year before.
Over the five fiscal years to FY2026 it grew 4% a year on average.
Free cash flow over time
Fiscal year by fiscal year
| Fiscal year | Free cash flow | Change |
|---|---|---|
| FY2026 | $67B | −6% |
| FY2025 | $71.6B | −3% |
| FY2024 | $74.1B | +25% |
| FY2023 | $59.5B | −9% |
| FY2022 | $65.1B | +16% |
| FY2021 | $56.1B | +24% |
| FY2020 | $45.2B | +18% |
| FY2019 | $38.3B | +19% |
| FY2018 | $32.3B | +3% |
| FY2017 | $31.4B | +26% |
| FY2016 | $25B | +8% |
| FY2015 | $23.2B | −13% |
| FY2014 | $26.7B | +9% |
| FY2013 | $24.6B | −16% |
| FY2012 | $29.3B | +19% |
Each fiscal year is the twelve months to its fourth quarter.
Quarter by quarter
| Quarter | Ended | Free cash flow | On a year earlier | Last 12 months |
|---|---|---|---|---|
| Q4 FY26 | $19.6B | −23% | $67B | |
| Q3 FY26 | $15.8B | −22% | $72.9B | |
| Q2 FY26 | $5.9B | −9% | $77.4B | |
| Q1 FY26 | $25.7B | +33% | $78B | |
| Q4 FY25 | $25.6B | +10% | $71.6B | |
| Q3 FY25 | $20.3B | −3% | $69.4B | |
| Q2 FY25 | $6.5B | −29% | $70B | |
| Q1 FY25 | $19.3B | −7% | $72.7B | |
| Q4 FY24 | $23.3B | +18% | $74.1B | |
| Q3 FY24 | $21B | +18% | $70.6B | |
| Q2 FY24 | $9.1B | +86% | $67.4B | |
| Q1 FY24 | $20.7B | +22% | $63.2B |
Against its peers
Companies in Technology nearest Microsoft's size, closest first, today.
| Company | Free cash flow yield |
|---|---|
| MSFTMicrosoft | 1.7% |
| AAPLApple | 2.7% |
| NVDANVIDIA | 2.5% |
| AVGOBroadcom | 2.6% |
| MUMicron Technology | 5.9% |
| AMDAdvanced Micro Devices | 1.0% |
| PLTRPalantir Technologies | 0.7% |
| INTCIntel | 0.6% |
| CSCOCisco Systems | 3.0% |
| Peer median | 2.5% |
What the free cash flow tells you
Cash from operations minus capital spending. The cash the company could hand back or reinvest.
Seasonal and lumpy quarter to quarter. The TTM view is the one to trust.
More on Microsoft
Valuation data, not investment advice. Prices as of . Reported figures come from the company's filings with the SEC.