Last 48 quarters of trend data · Technology · Software - Infrastructure
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q4 '26 | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 27.74 | 19.43 | 21.67 | 23.43 | 34.81 | 34.07 | 27.12 | 32.62 | 32.60 | 37.88 | 35.78 | 32.09 | 26.40 | 31.65 | 29.42 | 27.25 | 24.78 | 28.79 | 34.72 | 33.90 | 26.01 |
| — | -43.0% | -20.1% | -28.2% | +6.8% | -10.1% | -24.2% | +1.7% | +23.5% | +19.7% | +21.6% | +17.7% | +6.6% | +9.9% | -15.3% | -19.6% | -4.7% | -7.7% | +19.6% | +23.8% | -10.0% | |
| P/S Ratio | 11.14 | 7.72 | 8.31 | 11.10 | 12.45 | 12.14 | 9.99 | 11.30 | 12.25 | 12.90 | 12.70 | 11.32 | 10.42 | 11.31 | 10.18 | 8.49 | 8.70 | 9.29 | 11.76 | 12.28 | 11.77 |
| — | -36.4% | -16.8% | -1.8% | +1.6% | -5.9% | -21.3% | -0.2% | +17.6% | +14.0% | +24.8% | +33.3% | +19.9% | +21.8% | -13.5% | -30.8% | -26.1% | -16.5% | +9.6% | +24.9% | +8.9% | |
| P/B Ratio | 8.39 | 6.28 | 6.65 | 9.23 | 10.65 | 10.80 | 8.70 | 10.40 | 11.17 | 12.44 | 12.42 | 11.79 | 10.68 | 12.33 | 11.05 | 9.79 | 10.04 | 11.58 | 14.26 | 15.88 | 14.04 |
| — | -41.8% | -23.6% | -11.2% | -4.7% | -13.1% | -29.9% | -11.8% | +4.7% | +0.9% | +12.3% | +20.4% | +6.3% | +6.5% | -22.5% | -38.4% | -28.4% | -20.0% | +7.1% | +22.1% | +7.8% | |
| P/FCF | 55.20 | 35.39 | 43.60 | 153.34 | 37.67 | 36.29 | 34.49 | 121.31 | 41.73 | 35.80 | 37.49 | 77.00 | 28.50 | 32.06 | 30.17 | 91.46 | 25.76 | 27.14 | 28.97 | 73.73 | 28.47 |
| — | -2.5% | +26.4% | +26.4% | -9.7% | +1.4% | -8.0% | +57.6% | +46.4% | +11.7% | +24.3% | -15.8% | +10.6% | +18.1% | +4.1% | +24.0% | -9.5% | -14.1% | +10.6% | +45.2% | +2.3% | |
| EV / EBITDA | 19.64 | 15.46 | 14.67 | 19.52 | 19.40 | 20.83 | 17.65 | 21.01 | 21.68 | 24.92 | 24.03 | 21.99 | 19.32 | 23.00 | 21.28 | 19.28 | 18.49 | 20.32 | 24.74 | 25.26 | 23.38 |
| — | -25.8% | -16.9% | -7.1% | -10.6% | -16.4% | -26.5% | -4.5% | +12.2% | +8.3% | +12.9% | +14.1% | +4.5% | +13.2% | -14.0% | -23.7% | -20.9% | -14.0% | +6.4% | +18.4% | +3.6% | |
| EV / EBIT | 24.52 | 16.09 | 17.76 | 18.92 | 28.28 | 28.54 | 22.50 | 26.98 | 26.66 | 30.58 | 29.34 | 26.45 | 21.41 | 25.66 | 23.79 | 22.26 | 20.36 | 23.74 | 28.85 | 28.22 | 26.03 |
| — | -43.6% | -21.1% | -29.9% | +6.0% | -6.7% | -23.3% | +2.0% | +24.5% | +19.2% | +23.3% | +18.8% | +5.2% | +8.1% | -17.6% | -21.1% | -21.8% | -10.7% | +11.0% | +21.1% | +4.1% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q4 '26 | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 67.9% | 67.2% | 67.6% | 68.0% | 69.0% | 68.6% | 68.7% | 68.7% | 69.4% | 69.6% | 70.1% | 68.4% | 71.2% | 70.1% | 69.5% | 66.8% | 69.2% | 68.3% | 68.4% | 67.2% | 69.9% |
| — | -2.0% | -1.6% | -1.0% | -0.4% | -1.4% | -2.0% | +0.5% | -2.5% | -0.7% | +0.9% | +2.3% | +2.9% | +2.6% | +1.6% | -0.5% | -1.0% | -2.0% | -0.5% | +0.2% | -0.7% | |
| Operating Margin | 46.8% | 45.1% | 46.3% | 47.1% | 48.9% | 44.9% | 45.7% | 45.5% | 46.6% | 43.1% | 44.6% | 43.6% | 47.6% | 43.2% | 42.3% | 38.7% | 42.9% | 39.6% | 41.3% | 43.0% | 44.7% |
| — | +0.5% | +1.4% | +3.6% | +4.9% | +4.1% | +2.4% | +4.3% | -2.1% | -0.1% | +5.4% | +12.7% | +10.8% | +9.0% | +2.5% | -10.1% | -3.9% | -4.3% | +0.9% | +3.5% | +4.5% | |
| Net Margin | 40.3% | 39.7% | 38.3% | 47.3% | 35.7% | 35.6% | 36.9% | 34.6% | 37.6% | 34.0% | 35.5% | 35.3% | 39.4% | 35.7% | 34.6% | 31.1% | 35.0% | 32.3% | 33.9% | 36.3% | 45.2% |
| — | +11.5% | +4.0% | +36.7% | -5.0% | +4.6% | +3.9% | -1.8% | -4.6% | -4.7% | +2.4% | +13.2% | +12.6% | +10.7% | +2.2% | -14.2% | -22.6% | -9.5% | -8.6% | +1.1% | +21.0% |
| Metric | TTM | Q4 '26 | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 34.0% | 8.3% | 7.9% | 10.2% | 7.9% | 8.2% | 8.3% | 8.2% | 8.9% | 8.4% | 8.9% | 9.5% | 10.4% | 10.0% | 9.7% | 9.2% | 10.3% | 10.2% | 10.4% | 12.0% | 14.0% |
| — | +2.0% | -4.6% | +24.9% | -11.5% | -3.1% | -7.4% | -14.3% | -15.1% | -15.7% | -7.8% | +3.5% | +1.1% | -1.4% | -6.5% | -23.4% | -26.0% | -14.6% | -11.3% | -1.3% | +21.3% | |
| ROA | 19.4% | 4.9% | 4.7% | 5.9% | 4.4% | 4.6% | 4.7% | 4.6% | 4.8% | 4.4% | 4.6% | 4.8% | 5.2% | 5.1% | 4.9% | 4.5% | 4.8% | 4.7% | 4.9% | 5.6% | 6.1% |
| — | +6.8% | -0.7% | +29.5% | -7.2% | +4.2% | +2.5% | -4.4% | -8.3% | -12.8% | -6.5% | +5.3% | +7.3% | +7.4% | +0.6% | -18.3% | -20.9% | -7.9% | -3.1% | +8.7% | +32.8% | |
| ROIC | 23.9% | 5.8% | 5.8% | 6.1% | 6.5% | 6.3% | 6.1% | 6.3% | 6.4% | 6.1% | 6.2% | 7.0% | 8.1% | 7.3% | 6.8% | 6.5% | 7.0% | 6.7% | 6.8% | 7.7% | 7.2% |
| — | -7.9% | -5.4% | -3.7% | +0.5% | +2.7% | -0.8% | -9.9% | -20.7% | -16.6% | -9.5% | +8.5% | +15.4% | +8.9% | -0.2% | -16.4% | -2.3% | -3.5% | +6.8% | +11.8% | +13.7% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q4 '26 | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.29 | 0.29 | 0.30 | 0.32 | 0.33 | 0.33 | 0.33 | 0.34 | 0.34 | 0.36 | 0.42 | 0.47 | 0.48 | 0.39 | 0.41 | 0.43 | 0.44 | 0.47 | 0.48 | 0.50 | 0.52 |
| — | -10.9% | -7.2% | -7.2% | -1.5% | -10.4% | -22.3% | -27.3% | -29.7% | -5.4% | +3.0% | +9.8% | +7.7% | -18.2% | -14.9% | -15.2% | -14.4% | -18.8% | -20.8% | -21.0% | -23.0% | |
| Debt / EBITDA | 0.66 | 2.76 | 2.58 | 2.60 | 2.36 | 2.46 | 2.58 | 2.67 | 2.55 | 2.85 | 3.16 | 3.38 | 3.43 | 2.82 | 3.06 | 3.24 | 3.17 | 3.20 | 3.23 | 3.12 | 3.37 |
| — | +11.9% | +0.2% | -2.9% | -7.6% | -13.6% | -18.4% | -20.8% | -25.6% | +1.0% | +3.2% | +4.1% | +8.1% | -11.7% | -5.2% | +3.9% | -5.7% | -12.8% | -20.5% | -22.1% | -25.1% | |
| Current Ratio | 1.23 | 1.23 | 1.28 | 1.39 | 1.40 | 1.35 | 1.37 | 1.35 | 1.30 | 1.27 | 1.24 | 1.22 | 1.66 | 1.77 | 1.91 | 1.93 | 1.84 | 1.78 | 1.99 | 2.25 | 2.16 |
| — | -9.1% | -6.5% | +2.6% | +7.6% | +6.2% | +10.5% | +10.9% | -21.8% | -27.9% | -35.1% | -36.9% | -9.6% | -0.9% | -3.8% | -14.1% | -15.0% | -14.2% | -13.4% | -12.8% | -14.4% | |
| Quick Ratio | 1.22 | 1.22 | 1.27 | 1.38 | 1.39 | 1.35 | 1.36 | 1.34 | 1.29 | 1.27 | 1.23 | 1.20 | 1.64 | 1.75 | 1.88 | 1.89 | 1.79 | 1.75 | 1.95 | 2.21 | 2.12 |
| — | -9.3% | -6.6% | +2.6% | +8.1% | +6.5% | +10.8% | +11.4% | -21.5% | -27.5% | -34.5% | -36.4% | -8.5% | -0.0% | -3.4% | -14.2% | -15.6% | -14.9% | -14.0% | -13.4% | -14.7% | |
| Interest Coverage | 55.39 | 53.50 | 51.57 | 66.55 | 50.14 | 54.03 | 53.82 | 50.44 | 53.01 | 39.87 | 34.41 | 30.18 | 52.97 | 52.30 | 46.71 | 42.51 | 44.14 | 42.30 | 41.14 | 43.89 | 39.08 |
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Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying MSFT stock.
Microsoft Corporation's current P/E is 27.7x. The average P/E over the last 4 quarters is 24.8x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Microsoft Corporation's current operating margin is 46.8%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Microsoft Corporation's business trajectory between earnings reports.