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FCF Margin for Microsoft (MSFT)

As of · Reported

Metric

TTM

22.9%

YoY change

−4.80pp

Trough year (1990)

10.2%

Peak year (1999)

63.6%

FCF Margin history chart for Microsoft (MSFT) from 1989 to 2025

Latest: 25.4%

FCF Margin change chart for Microsoft (MSFT) from 1989 to 2025

Latest: −4.80pp

FCF Margin history table for Microsoft (MSFT) from 1989 to 2025

  • 202525.4%-4.80pp
  • 202430.2%+2.15pp
  • 202328.1%-4.79pp
  • 202232.9%-0.53pp
  • 202133.4%+1.76pp
  • 202031.6%+1.23pp
  • 201930.4%+1.18pp
  • 201829.2%-3.27pp
  • 201732.5%+5.09pp
  • 201627.4%+2.05pp
  • 201525.4%-5.76pp
  • 201431.1%-0.46pp
  • 201331.6%-8.20pp
  • 201239.8%+4.54pp
  • 201135.2%-0.14pp
  • 201035.4%+8.12pp
  • 200927.2%-3.26pp
  • 200830.5%+0.12pp
  • 200730.4%+1.42pp
  • 200629.0%-10.73pp
  • 200539.7%+3.00pp
  • 200436.7%-9.61pp
  • 200346.3%-2.13pp
  • 200248.4%-0.26pp
  • 200148.7%+2.75pp
  • 200045.9%-17.63pp
  • 199963.6%+13.86pp
  • 199849.7%+14.61pp
  • 199735.1%-2.09pp
  • 199637.2%+12.01pp
  • 199525.2%-3.10pp
  • 199428.3%+5.96pp
  • 199322.3%+0.93pp
  • 199221.4%+5.48pp
  • 199115.9%+5.76pp
  • 199010.2%-6.41pp
  • 198916.6%—

FCF Margin values are taken from Microsoft's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.

About FCF Margin at Microsoft (MSFT)

According to Microsoft's latest reported financial statements, the company's latest reported free cash flow margin is 22.9%. Free cash flow margin is free cash flow divided by revenue — the share of each sales dollar that converts into cash after capital expenditures. Because free cash flow cannot be inflated by non-cash accounting, FCF margin is a clean read on how efficiently a business turns revenue into deployable cash.

Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .

Microsoft (MSFT) most recent annual free cash flow margin stands at 25.42% (2025) – contracted 4.8 percentage points year-over-year.

The record annual free cash flow margin stands at 63.57%, reached in 1999; the historical low of 10.16% was recorded in 1990.

Microsoft FCF Margin by Year

Microsoft FCF Margin 2025: 25.4%

In 2025, Microsoft reported free cash flow margin of 25.42%, contracted 4.8 percentage points from 2024.

Microsoft FCF Margin 2024: 30.2%

Microsoft free cash flow margin in 2024 was 30.22%, expanded 2.2 percentage points from 2023.

Microsoft FCF Margin 2023: 28.1%

2023's free cash flow margin for Microsoft came in at 28.07%, contracted 4.8 percentage points from 2022.

Microsoft FCF Margin 2022: 32.9%

Microsoft posted free cash flow margin of 32.86% in 2022, contracted 0.5 percentage points from 2021.

Microsoft FCF Margin 2021: 33.4%

Microsoft free cash flow margin in 2021 was 33.39%.

See more financial history for Microsoft (MSFT).

Sector peers by FCF Margin

Technology peers of Microsoft (MSFT), ranked by their latest free cash flow margin

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