Balance Sheet: Assets
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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Microsoft Corp. pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- Analysis of Geographic Areas
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Price to Book Value (P/BV) since 2005
- Price to Sales (P/S) since 2005
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Microsoft Corp., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 10-K (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-Q (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-K (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-Q (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-K (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-K (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-K (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-K (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30).
Total assets exhibited a consistent and accelerating upward trajectory over the analyzed period, growing from 301,001 million USD in September 2020 to 758,376 million USD by June 2026. This growth is primarily driven by a substantial expansion in non-current assets, shifting the balance sheet composition from a liquidity-heavy profile toward one dominated by long-term infrastructure and strategic acquisitions.
- Capital Expenditure and Infrastructure Growth
- Property and equipment, net of accumulated depreciation, showed the most aggressive growth of any asset category, increasing from 47,927 million USD in September 2020 to 313,076 million USD by June 2026. This sustained increase indicates a massive and continuous investment in physical assets, serving as the primary driver for the expansion of total long-term assets, which rose from 123,924 million USD to 550,666 million USD over the same period.
- Liquidity and Short-Term Asset Trends
- A notable transition occurred in the liquidity profile. Cash, cash equivalents, and short-term investments trended downward from a peak of 137,977 million USD in September 2020 to 76,843 million USD by June 2026. This was largely characterized by a steady decline in short-term investments, which dropped from 120,772 million USD to 55,908 million USD. Conversely, accounts receivable grew significantly, rising from 22,851 million USD to 80,876 million USD, suggesting an increase in credit sales or a shift in collection cycles.
- Strategic Acquisitions and Intangibles
- A structural shift in the balance sheet is observed in December 2023, where goodwill jumped from 67,790 million USD to 118,931 million USD, and intangible assets rose from 8,895 million USD to 29,896 million USD. This sharp increase indicates a major acquisition event. While goodwill remained stable following this spike, intangible assets entered a gradual decline, falling to 18,609 million USD by June 2026, likely due to amortization.
- Current Asset Stability and Inventory Management
- Current assets remained relatively stable in comparison to long-term assets, fluctuating between 147,080 million USD and 207,710 million USD. Inventories remained a negligible portion of the total asset base, trending downward from 2,705 million USD in September 2020 to 1,397 million USD by June 2026, indicating a lean approach to physical product inventory.