Bought back $22.3B of its own shares, 1.8× what it paid in stock
Dilution: new shares, stock pay and buybacks
Shares offered
Since Nov 12, 2023: 1 registration of shares for a merger, units or notes; also 1 debt shelf.
- May 6, 2024 Shares for a merger, units or notes 424B3
Every offering filing →“PROSPECTUS MICROSOFT CORPORATION OFFERS TO EXCHANGE THE NOTES SET FORTH BELOW REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, FOR ANY AND ALL OUTSTANDING RESTRICTED NOTES SET FORTH OPPOSITE THE CORRESPONDING REGISTERED NOTES REGISTERED NOTES RESTRICTED NOTES $762,661,000 3.400% Notes due 2026 (CUSIP No. 594918CN2) (CUSIP Nos. 594918CG7 and U59340AH9) $354,793,000 3.400% Notes due 2027 (CUSIP No. 594918CQ5) …”
424B3, May 6, 2024 ↗
Diluted shares: 7.45B in the year to Jun 30, 2026 2026 -0.2%2025 -0.1%2024 0.0%2023 -0.9%
Change in the diluted weighted average share count from the fiscal year before, stock splits taken out. Bars use one scale for stock pay and buybacks. Prospectuses are read from their cover page; preliminary ones are left out. Cash & buybacks, year by year → · How
Where the cash came from and where it went
FY2024 to FY2026, from the cash flow statements in the 10-Ks, added up.
Came from
| Operating cash flow | $437.6B |
| Shares sold | $6.1B |
| Cash on hand used | $13.8B |
Went to
| Capital spending | $225.0B |
| Buybacks | $57.9B |
| Dividends | $72.3B |
| Other, net investments bought and sold, other financing and investing lines, and exchange rates |
$102.3B |
Each number is a line of the cash flow statement as the company tagged it. "Other, net" is what those lines do not cover (investments bought and sold, other financing and investing lines, and exchange rates); Tickdelta does not estimate it.
Buybacks, dividends and share count
| Fiscal year to | Buybacks | Dividends | Stock pay | Shares issued for cash | Diluted shares |
|---|---|---|---|---|---|
| 2026-06-30 | $22.3B | $26.4B | $12.4B | $2.0B | 7.45B |
| 2025-06-30 | $18.4B | $24.1B | $12.0B | $2.1B | 7.46B |
| 2024-06-30 | $17.3B | $21.8B | $10.7B | $2.0B | 7.47B |
| 2023-06-30 | $22.2B | $19.8B | $9.6B | $1.9B | 7.47B |
| 2022-06-30 | $32.7B | $18.1B | $7.5B | $1.8B | 7.54B |
From the XBRL of the 10-Ks (cash flow statement and diluted weighted average shares); each year as reported in the latest 10-K that includes it. Concepts: buybacks = PaymentsForRepurchaseOfCommonStock; dividends = PaymentsOfDividendsCommonStock; sbc = ShareBasedCompensation; issuance = ProceedsFromIssuanceOfCommonStock; diluted_shares = WeightedAverageNumberOfDilutedSharesOutstanding.
What it paid for each share it bought back
What MSFT paid on average for each share it bought back, each fiscal year: dollars spent divided by shares bought, both from the 10-K.
| Fiscal year to | Shares bought | Spent | Average price | |
|---|---|---|---|---|
| 2018-06-30 | 99.00M | $8.6B | $86.87 | |
| 2017-06-30 | 170.00M | $10.3B | $60.49 | |
| 2016-06-30 | 294.00M | $14.8B | $50.34 | |
| 2015-06-30 | 295.00M | $13.2B | $44.78 | |
| 2014-06-30 | 175.00M | $6.4B | $36.62 | |
| 2012-06-30 | 142.00M | $4.0B | $28.17 | |
| 2011-06-30 | 447.00M | $11.5B | $25.63 | |
| 2010-06-30 | 380.00M | $10.8B | $28.52 | |
| 2009-06-30 | 318.00M | $8.2B | $25.79 | |
| 2008-06-30 | 402.00M | $12.4B | $30.91 |
Shares and dollars from the statement of shareholders' equity (the cash flow line also counts shares withheld for taxes, so it is not used). Share counts filed before a stock split are put on today's count. A year where the 10-K does not tag both numbers is left out. The latest year with both numbers tagged is 2018.