Microsoft annual free cash flow
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2026
Microsoft Free Cash Flow (FCF) History (MSFT)
Microsoft reported $66.99B in free cash flow for fiscal 2026, a decrease of 6.46% from the previous fiscal year, with a free cash flow margin of 20.19%.
View full Microsoft company overviewMicrosoft free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2026 | 2026-06-30 | $66.99B | −$4.62B | −6.46% | +20.19% |
| 2025 | 2025-06-30 | $71.61B | −$2.46B | −3.32% | +25.42% |
| 2024 | 2024-06-30 | $74.07B | $14.60B | +24.54% | +30.22% |
| 2023 | 2023-06-30 | $59.48B | −$5.67B | −8.71% | +28.07% |
| 2022 | 2022-06-30 | $65.15B | $9.03B | +16.09% | +32.86% |
| 2021 | 2021-06-30 | $56.12B | $10.88B | +24.06% | +33.39% |
| 2020 | 2020-06-30 | $45.23B | $6.97B | +18.23% | +31.63% |
| 2019 | 2019-06-30 | $38.26B | $6.01B | +18.63% | +30.40% |
| 2018 | 2018-06-30 | $32.25B | $874.0M | +2.79% | +29.22% |
| 2017 | 2017-06-30 | $31.38B | $6.40B | +25.60% | +32.49% |
| 2016 | 2016-06-30 | $24.98B | $1.26B | +5.30% | +27.41% |
| 2015 | 2015-06-30 | $23.72B | −$3.29B | −12.19% | +25.35% |
| 2014 | 2014-06-30 | $27.02B | $2.44B | +9.93% | +31.11% |
| 2013 | 2013-06-30 | $24.58B | −$4.75B | −16.18% | +31.57% |
| 2012 | 2012-06-30 | $29.32B | $4.68B | +19.00% | +39.77% |
| 2011 | 2011-06-30 | $24.64B | $2.54B | +11.51% | +35.23% |
| 2010 | 2010-06-30 | $22.10B | $6.18B | +38.81% | +35.36% |
| 2009 | 2009-06-30 | $15.92B | −$2.51B | −13.63% | +27.24% |
| 2008 | 2008-06-30 | $18.43B | — | — | +30.50% |
Microsoft quarterly free cash flow
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Q4.26
| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q4 2026 | 2026-06-30 | $19.64B | −$5.93B | −23.19% | +21.82% |
| Q3 2026 | 2026-03-31 | $15.80B | −$4.50B | −22.15% | +19.07% |
| Q2 2026 | 2025-12-31 | $5.88B | −$605.0M | −9.33% | +7.24% |
| Q1 2026 | 2025-09-30 | $25.66B | $6.41B | +33.27% | +33.04% |
| Q4 2025 | 2025-06-30 | $25.57B | $2.25B | +9.63% | +33.45% |
| Q3 2025 | 2025-03-31 | $20.30B | −$666.0M | −3.18% | +28.97% |
| Q2 2025 | 2024-12-31 | $6.49B | −$2.63B | −28.86% | +9.32% |
| Q1 2025 | 2024-09-30 | $19.26B | −$1.41B | −6.82% | +29.36% |
| Q4 2024 | 2024-06-30 | $23.32B | $3.50B | +17.63% | +36.03% |
| Q3 2024 | 2024-03-31 | $20.96B | $3.13B | +17.56% | +33.89% |
| Q2 2024 | 2023-12-31 | $9.12B | $4.22B | +86.12% | +14.70% |
| Q1 2024 | 2023-09-30 | $20.67B | $3.75B | +22.18% | +36.57% |
| Q4 2023 | 2023-06-30 | $19.83B | $2.07B | +11.65% | +35.29% |
| Q3 2023 | 2023-03-31 | $17.83B | −$2.21B | −11.03% | +33.74% |
| Q2 2023 | 2022-12-31 | $4.90B | −$3.72B | −43.13% | +9.29% |
| Q1 2023 | 2022-09-30 | $16.91B | −$1.81B | −9.69% | +33.75% |
| Q4 2022 | 2022-06-30 | $17.76B | $1.50B | +9.23% | +34.24% |
| Q3 2022 | 2022-03-31 | $20.05B | $2.96B | +17.30% | +40.61% |
| Q2 2022 | 2021-12-31 | $8.62B | $273.0M | +3.27% | +16.65% |
| Q1 2022 | 2021-09-30 | $18.73B | $4.30B | +29.82% | +41.33% |
| Q4 2021 | 2021-06-30 | $16.26B | $2.33B | +16.72% | +35.23% |
| Q3 2021 | 2021-03-31 | $17.09B | $3.35B | +24.41% | +40.98% |
| Q2 2021 | 2020-12-31 | $8.34B | $1.21B | +16.92% | +19.37% |
| Q1 2021 | 2020-09-30 | $14.43B | $4.00B | +38.29% | +38.83% |
| Q4 2020 | 2020-06-30 | $13.93B | $1.87B | +15.53% | +36.62% |
| Q3 2020 | 2020-03-31 | $13.74B | $2.78B | +25.39% | +39.23% |
| Q2 2020 | 2019-12-31 | $7.13B | $1.94B | +37.40% | +19.33% |
| Q1 2020 | 2019-09-30 | $10.43B | $378.0M | +3.76% | +31.56% |
| Q4 2019 | 2019-06-30 | $12.06B | $4.62B | +62.10% | +35.76% |
| Q3 2019 | 2019-03-31 | $10.96B | $1.74B | +18.86% | +35.83% |
| Q2 2019 | 2018-12-31 | $5.19B | −$96.0M | −1.82% | +15.99% |
| Q1 2019 | 2018-09-30 | $10.05B | −$253.0M | −2.45% | +34.57% |
| Q4 2018 | 2018-06-30 | $7.44B | −$1.28B | −14.72% | +24.72% |
| Q3 2018 | 2018-03-31 | $9.22B | $252.0M | +2.81% | +34.37% |
| Q2 2018 | 2017-12-31 | $5.29B | $984.0M | +22.86% | +18.29% |
| Q1 2018 | 2017-09-30 | $10.31B | $922.0M | +9.82% | +42.01% |
| Q4 2017 | 2017-06-30 | $8.72B | $2.91B | +50.15% | +34.06% |
| Q3 2017 | 2017-03-31 | $8.96B | $906.0M | +11.24% | +38.62% |
| Q2 2017 | 2016-12-31 | $4.30B | $711.0M | +19.78% | +16.67% |
| Q1 2017 | 2016-09-30 | $9.39B | $1.87B | +24.81% | +42.80% |
| Q4 2016 | 2016-06-30 | $5.81B | $217.0M | +3.88% | +28.18% |
| Q3 2016 | 2016-03-31 | $8.06B | −$151.0M | −1.84% | +39.25% |
| Q2 2016 | 2015-12-31 | $3.59B | $744.0M | +26.11% | +15.10% |
| Q1 2016 | 2015-09-30 | $7.52B | $448.0M | +6.33% | +36.90% |
| Q4 2015 | 2015-06-30 | $5.59B | −$2.86B | −33.86% | +25.21% |
| Q3 2015 | 2015-03-31 | $8.21B | −$697.0M | −7.83% | +37.78% |
| Q2 2015 | 2014-12-31 | $2.85B | $169.0M | +6.30% | +10.77% |
| Q1 2015 | 2014-09-30 | $7.07B | $98.0M | +1.41% | +30.48% |
| Q4 2014 | 2014-06-30 | $8.46B | $4.35B | +105.77% | +36.16% |
| Q3 2014 | 2014-03-31 | $8.91B | $171.0M | +1.96% | +43.66% |
| Q2 2014 | 2013-12-31 | $2.68B | −$1.17B | −30.36% | +10.93% |
| Q1 2014 | 2013-09-30 | $6.97B | −$907.0M | −11.51% | +37.64% |
| Q4 2013 | 2013-06-30 | $4.11B | −$2.95B | −41.76% | +20.65% |
| Q3 2013 | 2013-03-31 | $8.74B | −$109.0M | −1.23% | +42.64% |
| Q2 2013 | 2012-12-31 | $3.85B | −$1.51B | −28.23% | +17.94% |
| Q1 2013 | 2012-09-30 | $7.88B | −$176.0M | −2.18% | +49.23% |
| Q4 2012 | 2012-06-30 | $7.05B | $1.75B | +33.11% | +39.07% |
| Q3 2012 | 2012-03-31 | $8.85B | $831.0M | +10.37% | +50.81% |
| Q2 2012 | 2011-12-31 | $5.36B | $1.67B | +45.17% | +25.68% |
| Q1 2012 | 2011-09-30 | $8.06B | $427.0M | +5.60% | +46.38% |
| Q4 2011 | 2011-06-30 | $5.30B | $454.0M | +9.37% | +30.52% |
| Q3 2011 | 2011-03-31 | $8.01B | $1.03B | +14.73% | +48.78% |
| Q2 2011 | 2010-12-31 | $3.69B | −$898.0M | −19.55% | +18.52% |
| Q1 2011 | 2010-09-30 | $7.63B | $1.96B | +34.52% | +47.11% |
| Q4 2010 | 2010-06-30 | $4.85B | $1.87B | +62.95% | +30.21% |
| Q3 2010 | 2010-03-31 | $6.99B | $1.57B | +29.07% | +48.16% |
| Q2 2010 | 2009-12-31 | $4.59B | −$347.0M | −7.02% | +24.15% |
| Q1 2010 | 2009-09-30 | $5.67B | $3.08B | +118.83% | +43.90% |
| Q4 2009 | 2009-06-30 | $2.97B | — | — | +22.70% |
| Q3 2009 | 2009-03-31 | $5.41B | — | — | +39.65% |
| Q2 2009 | 2008-12-31 | $4.94B | — | — | +29.71% |
| Q1 2009 | 2008-09-30 | $2.59B | — | — | +17.21% |
Microsoft free cash flow growth trends
Over the last five reported fiscal years, free cash flow grew from $56.12B to $66.99B, a compound annual growth rate of 3.60%. Microsoft's latest reported quarter, Q4 2026, generated $19.64B in free cash flow, a decrease of 23.19% year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
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