MSFT · NMS S&P 500

Microsoft Corporation

Technology · Software - Infrastructure

$533.16 −$12.02 (−2.20%) today

Closing price on Nov 10, 2026 · Source: Yahoo Finance

Consensus of 58 analysts

Buy

Median price target $631.00 +18.4%

Open: $543.41
Day range: 526.37 – $544.15
52-week range: 349.20 – $559.15
Volume: 26,910,016
Market cap: $3,959,350M
P/E (TTM): 27.8x
EPS (TTM): $19.16
EPS est. FY 2027: $20.01
P/E est. FY 2027: 26.6x
Dividend yield: 0.7%
Beta: 1.05
Payout: 19%

Analyst summary

Generated with AI · Nov 11, 2026, 13:52

Microsoft combines a broad software, cloud and services portfolio with strong recent growth. Q3 2026 revenue increased 18.8% year on year, while net income rose 32.0% and the net margin reached 39.7%. Earnings have exceeded estimates in each of the four reported quarters with comparison data. The shares trade at 27.8x trailing earnings, with analyst estimates implying lower forward multiples, but free cash flow declined in the latest quarter.

1Q3 2026 revenue rose 18.8% year on year to $92,279M.
2Net income grew 32.0% to $36,629M, while free cash flow fell 27.4% to $18,633M.
3The 27.8x trailing P/E compares with estimated multiples of 26.6x for FY 2027 and 22.0x for FY 2028.

Microsoft Corp. financials

Q3 2026 results, quarter ended Sep 30, 2026

Metric	Q3 2026	1-year change
Total revenue	$92,279M	+18.8%
Net income	$36,629M	+32.0%
Earnings per share	$4.92	+32.3%
Net margin	39.7%	+4.0 pp
Free cash flow	$18,633M	−27.4%
Debt / equity	0.12	−27.1%

Revenue and net income ($M)

Total revenueNet income

Quarter	Total revenue	Net income
Q3 2025	$77,673M	$27,747M
Q4 2025	$81,273M	$38,458M
Q1 2026	$82,886M	$31,778M
Q2 2026	$90,007M	$35,766M
Q3 2026	$92,279M	$36,629M

Revenue rose in each of the past five quarters, from $77,673M in Q3 2025 to $92,279M in Q3 2026. Latest-quarter net income was $36,629M, up 32.0% year on year, and net margin expanded 4.0 pp to 39.7%. Quarterly EPS increased from $3.720 in Q3 2025 to $4.890 in Q3 2026; the latter beat the $4.721 estimate by +3.6%. EPS beat estimates in each of the four quarters with reported comparisons. Annual EPS increased from $9.680 in FY 2023 to $17.950 in FY 2026; consensus forecasts $20.014 for FY 2027 and $24.196 for FY 2028.

Free cash flow was $18,633M in Q3 2026, down 27.4% year on year despite higher earnings. Debt/equity was 0.12, down 27.1%. The shares trade at a 27.8x trailing P/E; estimated P/Es are 26.6x for FY 2027 and 22.0x for FY 2028, implying valuation support depends on continued earnings growth.

Written by AI · Nov 11, 2026, 13:52

Microsoft Corp. earnings per share (EPS)

Consensus estimates

Period	EPS est.	1-year change
Current quarterQ4 2026 · Analysts: 24	$4.8564.82 – 4.97	+17.3%$4.140
Next quarterQ1 2027 · Analysts: 24	$4.9374.82 – 5.19	+15.6%$4.270
Current yearFY 2027 · Analysts: 32	$20.01419.55 – 20.63	+15.8%$17.280
Next yearFY 2028 · Analysts: 33	$24.19622.90 – 25.85	+20.9%$20.014

Forward P/E: 26.6x (FY 2027) and 22.0x (FY 2028) at the current price.

Actual and estimated EPS ($)

Actual EPSEstimated EPS

Quarter	Actual EPS	Estimated EPS
Q3 2025	$3.720	—
Q4 2025	$4.140	$3.917
Q1 2026	$4.270	$4.072
Q2 2026	$4.740	$4.239
Q3 2026	$4.890	$4.721
Q4 2026	—	$4.856
Q1 2027	—	$4.937

Year	Actual EPS	Estimated EPS
FY 2023	$9.680	—
FY 2024	$11.800	—
FY 2025	$13.640	—
FY 2026	$17.950	—
FY 2027	—	$20.014
FY 2028	—	$24.196

EPS trend

Quarter	EPS	YoY change
Q1 2027Estimated	$4.937	+15.6%
Q4 2026Estimated	$4.856	+17.3%
Q3 2026	$4.890est. $4.721 · surprise +3.6%	+31.5%
Q2 2026	$4.740est. $4.239 · surprise +11.8%	n/a
Q1 2026	$4.270est. $4.072 · surprise +4.9%	n/a
Q4 2025	$4.140est. $3.917 · surprise +5.7%	n/a
Q3 2025	$3.720	n/a

Year	EPS	Annual change
FY 2028Estimated	$24.196	+20.9%
FY 2027Estimated	$20.014	+11.5%
FY 2026	$17.950	+31.6%
FY 2025	$13.640	+15.6%
FY 2024	$11.800	+21.9%
FY 2023	$9.680	n/a

Normalised EPS according to the analyst consensus collected by Yahoo Finance; it may differ from the reported EPS in the results table.

Microsoft Corp. dividend

Yield and payments

Dividend yield (TTM)	0.7%
Forward yield (next 12m)	0.7%
Dividend per share (TTM)	$3.71
Forward dividend (next 12m)	$3.92
Payout (TTM)	19%
Last dividend	$0.91Aug 20, 2026
Next ex-dividend date	Nov 19, 2026

Dividend per share by year ($)

PaidEstimated

Year	Dividend per share
2019	$1.89
2020	$2.09
2021	$2.30
2022	$2.54
2023	$2.79
2024	$3.08
2025	$3.40
est. 12m	$3.92

Microsoft offers a modest 0.7% trailing dividend yield, with the forward yield also estimated at 0.7%. The trailing dividend per share is $3.71, versus an estimated $3.92 over the next 12 months; the payout ratio is 19%. The latest stated dividend was $0.91, with an ex-date of Aug 20, 2026, and the next ex-date is Nov 19, 2026.

The annual dividend has risen each year in the supplied history, from $1.89 in 2019 to $3.40 in 2025. The estimated $3.92 for the next 12 months extends that pattern, while the relatively low payout indicates the dividend currently represents only a limited share of earnings.

Written by AI · Nov 11, 2026, 13:52

Microsoft Corp. forecasts

58 analyst ratings

Buy91% Hold9% Sell0%

Consensus: Buy · 53 buy, 5 hold, 0 sell

1-year price forecast

Share price Price target (high, median, low)

12-month price targets
Target	Price	Upside
High	$870.00	+63.2%
Median	$631.00	+18.4%
Low	$440.00	−17.5%

Monthly close (last 12 months)
Date	Close
Nov 28, 2025	$492.01
Dec 31, 2025	$483.62
Jan 30, 2026	$430.29
Feb 27, 2026	$392.74
Mar 31, 2026	$370.17
Apr 30, 2026	$407.78
May 29, 2026	$450.24
Jun 30, 2026	$373.02
Jul 31, 2026	$464.72
Aug 31, 2026	$507.29
Sep 30, 2026	$512.90
Oct 30, 2026	$521.91
Nov 10, 2026	$533.16

Analyst sentiment is strongly positive: of 58 analysts, 53 (91%) rate the shares Buy, 5 (9%) Hold and none Sell. The consensus rating is Buy. The median price target is $631.00, implying +18.4% potential from the quoted share price. Targets span $440.00 (−17.5%) to $870.00 (+63.2%), a wide range that signals meaningful differences in expectations.

EPS consensus points to continued growth: $20.014 for FY 2027 and $24.196 for FY 2028, increases of +11.5% and +20.9% respectively in the annual series. Estimated P/Es of 26.6x and 22.0x suggest the valuation eases as earnings rise, provided those forecasts are delivered.

Written by AI · Nov 11, 2026, 13:52

Microsoft Corp. peers

Ticker	Company	Market cap ($M)	P/E	Price ($)	1-day change	52-week range
MSFT	Microsoft Corp.	3,959,350	27.8x	533.16	−2.20%	349.20559.15
PLTR	Palantir Technologies	406,771	118.9x	168.82	−0.22%	106.37212.94
ORCL	Oracle	367,827	18.5x	117.98	−1.51%	109.21250.25
PANW	Palo Alto Networks	267,107	815.9x	326.36	−1.37%	139.57432.33
CRWD	CrowdStrike	231,164	3,762.7x	225.76	−1.23%	85.68286.99
FTNT	Fortinet	90,788	40.4x	123.57	+0.90%	73.55197.13

Microsoft’s $3,959,350M market capitalisation is substantially larger than the listed peers: Palantir is valued at $406,771M, Oracle at $367,827M, Palo Alto Networks at $267,107M, CrowdStrike at $231,164M and Fortinet at $90,788M.

Microsoft’s 27.8x P/E is above Oracle’s 18.5x and below Fortinet’s 40.4x, while the listed multiples for Palantir, Palo Alto Networks and CrowdStrike are 118.9x, 815.9x and 3,762.7x respectively. The comparison shows a premium to Oracle but lower multiples than the other listed peers.

Written by AI · Nov 11, 2026, 13:52

Risks, catalysts and conclusion

Generated with AI · Nov 11, 2026, 13:52

Risks

Slower adoption of cloud and AI consumption-based services could weaken the earnings growth underpinning current valuation.
Competition across infrastructure software, cloud services and security could pressure growth or margins.
A continued decline in free cash flow could constrain financial flexibility if earnings growth does not translate into cash generation.

Catalysts

Greater adoption of cloud and AI consumption-based services could support revenue and earnings growth.
Broader use of Microsoft 365 Copilot and other Microsoft 365 services could strengthen the productivity business.
Delivery against FY 2027 and FY 2028 EPS forecasts could reinforce growth expectations and the case for lower forward P/Es.

Conclusion

Microsoft’s latest results show accelerating revenue, stronger net income and margin expansion, while the quarterly EPS series has consistently beaten estimates. The company’s scale and breadth across software, cloud and business services are balanced by a decline in free cash flow and a valuation that still requires earnings delivery. Analyst sentiment and forecasts are favourable, but the wide target range underlines uncertainty around the outlook. Overall, the assessment is positive, with execution and cash conversion important to monitor.

Analysis written automatically by AI from Yahoo Finance market data on Nov 11, 2026, 13:52.

This content is for information only and is not financial advice or a recommendation to buy or sell securities. Ratings and price targets come from third-party analysts. Investing in the stock market involves the risk of losing capital.

Microsoft Corporation

Analyst summary

Microsoft Corp. financials

Q3 2026 results, quarter ended Sep 30, 2026

Revenue and net income ($M)

Microsoft Corp. earnings per share (EPS)

Consensus estimates

Actual and estimated EPS ($)

EPS trend

Microsoft Corp. dividend

Yield and payments

Dividend per share by year ($)

Microsoft Corp. forecasts

58 analyst ratings

1-year price forecast

Microsoft Corp. peers

Risks, catalysts and conclusion

Risks

Catalysts

Conclusion

What the AI agents think about Microsoft Corp.

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