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Microsoft Corporation (MSFT) 财务分析 | 估值·财报 | 100Baggers.club

Microsoft Corporation

MSFT

Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. The company operates in three segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. The Productivity and Business Processes segment offers Office, Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, Microsoft Viva, and Skype for Business; Skype, Outlook.com, OneDrive, and LinkedIn; and Dynamics 365, a set of cloud-based and on-premises business solutions for organizations and enterprise divisions. The Intelligent Cloud segment licenses SQL, Windows Servers, Visual Studio, System Center, and related Client Access Licenses; GitHub that provides a collaboration platform and code hosting service for developers; Nuance provides healthcare and enterprise AI solutions; and Azure, a cloud platform. It also offers enterprise support, Microsoft consulting, and nuance professional services to assist customers in developing, deploying, and managing Microsoft server and desktop solutions; and training and certification on Microsoft products. The More Personal Computing segment provides Windows original equipment manufacturer (OEM) licensing and other non-volume licensing of the Windows operating system; Windows Commercial, such as volume licensing of the Windows operating system, Windows cloud services, and other Windows commercial offerings; patent licensing; and Windows Internet of Things. It also offers Surface, PC accessories, PCs, tablets, gaming and entertainment consoles, and other devices; Gaming, including Xbox hardware, and Xbox content and services; video games and third-party video game royalties; and Search, including Bing and Microsoft advertising. The company sells its products through OEMs, distributors, and resellers; and directly through digital marketplaces, online stores, and retail stores. Microsoft Corporation was founded in 1975 and is headquartered in Redmond, Washington.

📊 估值

关键估值指标

EV/EBITDA (TTM)

i

Enterprise Value, EBITDA and Ratio

EV/EBIT (TTM)

i

Enterprise Value, EBIT and Ratio

EV/Sales (TTM)

i

Enterprise Value, Revenue and Ratio

P/E Ratio (TTM)

i

Market Cap, Net Income and Ratio

P/B Ratio (Quarterly)

i

Market Cap, Book Value and Ratio

FCF Yield (TTM)

i

FCF, Enterprise Value and Yield

PR Profit Ratio (PPM)

i

PE Ratio, ROE and Profit Ratio (PR = PE / ROE)

📈 成长

营收、盈利和每股成长指标

Revenue (Quarterly)

i

Quarterly Revenue

Revenue/Share (Quarterly)

i

Revenue Per Share

Net Income (Quarterly)

i

Quarterly Net Income

EPS (Quarterly)

i

Earnings Per Share

Gross Profit/Share (Quarterly)

i

Gross Profit Per Share

OCF/Share (Quarterly)

i

Operating Cash Flow Per Share

FCF/Share (Quarterly)

i

Free Cash Flow Per Share

Operating Leverage (YoY)

i

Change in Operating Income / Change in Revenue

💰 盈利

利润率和净资产收益率

Gross Margin (TTM)

i

Revenue, Gross Profit and Gross Margin

Operating Margin (TTM)

i

Revenue, Operating Income and Operating Margin

Net Profit Margin (TTM)

i

Revenue, Net Income and Net Profit Margin

ROE (TTM)

i

Equity, Net Income and Return on Equity

ROA (TTM)

i

Assets, Net Income and Return on Assets

ROTCE - Return on Tangible Common Equity (TTM)

i

Net Income, Tangible Common Equity and ROTCE

OCF Margin (TTM)

i

Revenue, Operating Cash Flow and OCF Margin

FCF Margin (TTM)

i

Revenue, Free Cash Flow and FCF Margin

💵 现金质量

现金流质量和转换指标

OCF/NI Ratio (TTM)

i

Operating Cash Flow, Net Income and Ratio

FCF/NI Ratio (TTM)

i

Free Cash Flow, Net Income and Ratio

OCF/Capex (TTM)

i

Operating Cash Flow, Capex and Coverage Ratio

OCF/SBC (TTM)

i

Operating Cash Flow, SBC and Coverage Ratio

🛡️ 财务韧性

债务、流动性和财务健康度

Debt/Equity (quarterly)

i

Total Debt, Total Equity and Debt/Equity Ratio

EBITDA/Net Debt (TTM)

i

EBITDA, Net Debt and Coverage Ratio

Interest Coverage (TTM)

i

EBIT, Interest Expense and Coverage Ratio

Current Ratio (quarterly)

i

Current Assets, Current Liabilities and Current Ratio

Quick Ratio (quarterly)

i

Quick Assets, Current Liabilities and Quick Ratio

Altman Z-Score

i

Financial Distress Prediction Model

⚙️ 运营与资本效率

资产利用率、营运资本、ROIC和资本效率

ROIC (TTM)

i

NOPAT, Invested Capital and Return on Invested Capital

ROCE - Return on Capital Employed (TTM)

i

EBIT, Capital Employed and Return on Capital Employed

Asset Turnover (TTM)

i

Revenue, Total Assets and Turnover Ratio

CapEx/Depreciation - Investment Intensity (TTM)

i

CapEx, Depreciation and Ratio (>1=Expansion, <1=Contraction)

R&D/Gross Profit - R&D Intensity (TTM)

i

R&D Expenses, Gross Profit and Ratio

SG&A/Revenue - SG&A Efficiency (TTM)

i

SG&A Expenses, Revenue and Ratio

Cash Conversion Cycle (TTM)

i

DSO + DIO - DPO (in days)

DSO - Days Sales Outstanding (TTM)

i

Average Receivables and Days Sales Outstanding

DIO - Days Inventory Outstanding (TTM)

i

Average Inventory and Days Inventory Outstanding

DPO - Days Payables Outstanding (TTM)

i

Average Payables and Days Payables Outstanding

Goodwill/Assets (Quarterly)

i

Goodwill as % of Total Assets

🎁 股东回报

股息、股票回购、稀释和内部人交易活动

Dividend Yield (TTM)

i

Dividend Per Share, Share Price and Dividend Yield

Buyback Yield (TTM)

i

Net Buyback and Buyback Yield

Buyback Yield (3 Years)

i

Net Buyback 3Y and Buyback Yield 3Y

Dilution Rate (1 Year)

i

Current Shares, 1Y Ago Shares and Dilution Rate

Dilution Rate (3 Years)

i

Current Shares, 3Y Ago Shares and Dilution Rate

SBC Offset Rate (TTM)

i

Buyback / Stock-Based Comp and SBC Ratio

Insider Activity Rate (TTM)

i

Insider Net Buying and Activity Rate

P

盈利能力指标

Gross Profit Margini毛利率

67.63%

毛利润 = $56.06B

营业收入 = $82.89B

Operating Profit Margini营业利润率

46.33%

营业利润 = $38.40B

营业收入 = $82.89B

EBITDA MarginiEBITDA利润率

60.67%

EBITDA = $50.28B

营业收入 = $82.89B

EBIT MarginiEBIT利润率

48.40%

EBIT = $39.34B

营业收入 = $82.89B

Net Profit Margini净利率

38.34%

净利润 = $31.78B

营业收入 = $82.89B

Pretax Profit Margini税前利润率

47.46%

税前利润 = $39.34B

营业收入 = $82.89B

E

运营效率指标

Interest Coveragei利息保障倍数

55.65x

EBIT (TTM) = $157.33B

利息费用 (TTM) = $2.83B

48.9x

52.8x

52.0x

56.4x

55.6x

SG&A / Revenuei销管费率

10.55%

销售及管理费用 = $8.74B

营业收入 = $82.89B

R&D / Revenuei研发占比

10.76%

研发费用 = $8.91B

营业收入 = $82.89B

R

回报率指标 (TTM)

ROAi总资产回报率

19.93%

净利润 = $125.22B

平均总资产 = $628.43B

ROEi净资产收益率

34.01%

净利润 = $125.22B

平均股东权益 = $368.13B

ROICi投入资本回报率

34.95%

NOPAT (TTM) = $120.72B

平均投入资本 = $345.46B

(NOPAT = 营业利润 × (1 - 有效税率))

(平均投入资本 = (本期IC + 去年同期IC) / 2)

Revenue Growthi营收增长率

18.30%

当期营收 = $82.89B

去年同期营收 = $70.06B

+13.3%

+18.1%

+18.4%

+16.7%

+18.3%

Operating Cash Flow/Sharei每股经营现金流

$22.85

经营现金流 = $170.14B

流通股数 = 7.45B

$17.52

$18.25

$19.69

$21.52

$22.85

综合分析

利润表项目	同比增长	当季数据	趋势
营业收入	+18.3%	$82.89B	↑
毛利	+16.4%	$56.06B, 67.63%	↑
营业利润	+20.0%	$38.40B, 46.33%	↑
EBITDA	+23.5%	$50.28B, 60.67%	↑
税前利润	+25.4%	$39.34B, 47.46%	↑
净利润	+23.1%	$31.78B, 38.34%	↑
稀释每股收益	+23.4%	4.27	↑

L

流动性指标

Current Ratioi流动比率

1.28

正常

流动资产 = $175.33B

流动负债 = $136.66B

Quick Ratioi速动比率

1.27

健康

速动资产 = $174.11B

流动负债 = $136.66B

Cash Ratioi现金比率

0.57

健康

现金及等价物 = $78.27B

流动负债 = $136.66B

Cash Ratio = (Cash + Short-term Investments) / Current Liabilities

L

杠杆指标

Debt to Equityi债务权益比

0.14

健康

总债务 = $56.97B

总权益 = $414.37B

Liabilities to Assetsi资产负债率 (总负债)

40.3%

正常

总负债 = $279.86B

总资产 = $694.23B

Equity Multiplieri权益乘数

1.68

健康

总资产 = $694.23B

总权益 = $414.37B

E

效率指标

Asset Turnoveri总资产周转率

0.51

正常

营收 (TTM) = $318.27B

平均总资产 = $628.43B

Inventory Turnoveri存货周转率

88.55

健康

营业成本 (TTM) = $100.86B

平均存货 = $1.14B

Receivables Turnoveri应收账款周转率

5.46

正常

营收 (TTM) = $318.27B

平均应收账款 = $58.29B

S

偿债能力

Interest Coveragei利息保障倍数

55.65

健康

EBIT (TTM) = $157.33B

利息费用 (TTM) = $2.83B

Net Debt to EBITDAi净债务/EBITDA

0.12

健康

净债务 = $24.86B

EBITDA (TTM) = $200.96B

Debt Service Coveragei偿债覆盖率

19.25

健康

经营现金流 (TTM) = $170.14B

债务偿付 = $8.84B

V

价值指标

Goodwill %i商誉占比

17.2%

正常

商誉 = $119.66B

总资产 = $694.23B

Working Capital Ratioi营运资本比率

0.06

关注

营运资本 = $38.67B

总资产 = $694.23B

C

现金流指标

经营现金流 TTMi

$170.14B

自由现金流 TTMi

$72.92B

FCF = OCF - CapEx

经营现金流 (TTM) = $170.14B

资本支出 (TTM) = $-97.22B

自由现金流收益率i

2.31%

关注

FCF (TTM) = $72.92B

市值 = $3152.04B

经营现金流/销售比i

53.46%

健康

经营现金流 (TTM) = $170.14B

营业收入 (TTM) = $318.27B

Q

质量与覆盖指标

收益质量i

1.36x

健康

经营现金流 (TTM) = $170.14B

净利润 (TTM) = $125.22B

现金流/债务比i

2.99x

健康

经营现金流 (TTM) = $170.14B

总负债 = $56.97B

短期覆盖率i

1.25x

健康

经营现金流 (TTM) = $170.14B

流动负债 = $136.66B

资本支出覆盖率i

1.75x

关注

经营现金流 (TTM) = $170.14B

资本支出 (TTM) = $97.22B

E

效率指标

⚡ 比率按USD计算，去除汇率影响

自由/经营现金流比i

42.86%

关注

自由现金流 (TTM) = $72.92B

经营现金流 (TTM) = $170.14B

资本支出/营收比i

30.55%

关注

资本支出 (TTM) = $97.22B

营业收入 (TTM) = $318.27B

净债务/EBITDAi

0.12

健康

净债务 = $24.86B

EBITDA (TTM) = $200.96B

G

增长指标

经营现金流增长率i

26.01%

健康

当期OCF (TTM) = $46.68B

上期OCF = $37.04B

股东盈余i

$71.62B

健康

净利润 (TTM) = $125.22B

+ 折旧摊销 (TTM) = $43.63B

- 资本支出 (TTM) = $-97.22B