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Microsoft Corporation (MSFT)

Valor Justo
TechnologySoftware - InfrastructureUnited States

Fundamental

71

Precio

$516.55

Capitalización Bursátil

$3.70T

Parte 1 · Cuánto vale la empresa

Resumen

Microsoft sells software and cloud computing to businesses and consumers. Its products span office productivity software, business applications, operating systems, video games, and — its largest growth engine — Azure, a rented computing platform that lets other companies run their own software and AI models on Microsoft's data centres instead of building their own.

Cómo genera ingresos

Most revenue is recurring: Office, many business applications and parts of Windows are sold as subscriptions billed monthly or annually, and Azure is billed by the amount of computing capacity a customer actually consumes. This makes revenue far more predictable than a company that sells one-off licences or hardware, and gives Microsoft visibility into future revenue through signed but not yet delivered cloud contracts.

Ingresos por segmento

Productivity and Business Processes42.2%

Office 365, LinkedIn, and Dynamics business applications — mostly subscription revenue billed to companies and individual users.

Intelligent Cloud41.5%

Azure cloud computing and server products. The fastest-growing segment and the one most tied to AI infrastructure spending.

More Personal Computing16.3%

Windows licensing, Surface devices, gaming (Xbox) and Bing search advertising — the slowest-growing segment, tied to PC and console sales.

Ventaja competitiva

Costes de cambio · Amplia

Businesses run their email, documents, identity management and internal tools on Microsoft's stack, and migrating any one of these to a competitor requires retraining staff and rebuilding integrations across the whole company. Azure adds a second layer of lock-in once a customer's applications are built to run on it. The result is a customer base that rarely leaves even when a rival product is technically comparable.

Qué impulsa la demanda

Moderadamente cíclico

Subscription software revenue is fairly steady because it renews automatically and businesses rarely cancel core tools like email or Office. Azure and PC-related revenue are more sensitive to the economic cycle, since cloud spending can be optimised down in a downturn and PC sales track corporate refresh budgets and consumer discretionary spending.

Riesgos clave

  • Intense cloud competition — Azure competes against Amazon Web Services and Google Cloud, both well-capitalised and investing heavily in the same AI infrastructure. Price competition and customer negotiating power in this market can compress margins.
  • Regulatory and antitrust scrutiny — Microsoft's size and bundling practices across Office, Windows, Teams and cloud services draw sustained antitrust attention in the US, EU and elsewhere, which can force product changes or result in fines.
  • Heavy AI infrastructure spending — Microsoft is committing very large sums to data centres and chips to meet AI demand. If that demand grows more slowly than the capacity being built, the return on this spending falls short.
  • Cybersecurity incidents — As the operator of identity, email and cloud infrastructure for a large share of the world's businesses, a serious security breach involving Microsoft's own systems would damage trust across its entire customer base at once.

Los argumentos a favor

Buyers argue that Microsoft's grip on business software gives it a captive customer base to sell Azure and AI tools into, that Intelligent Cloud growth still has years to run as more computing shifts off-premises, and that recurring subscription revenue makes the business unusually resilient through downturns.

Los argumentos en contra

Sellers fear that AI infrastructure spending is outrunning proven demand, that antitrust pressure could eventually force apart the bundling that keeps customers locked in, and that Azure's growth rate must keep decelerating simply because the base it is growing from is now so large.

Written by the editors, published on 18 de agosto de 2026

Direct competitors

Who this company fights with for the same customers

Compare

Generated on 19 de septiembre de 2026 with claude-haiku-4-5 — shared with all users

P/E: 20.0Score: 69Market cap: $2.69T

AWS is Azure's primary rival for the same enterprise cloud infrastructure and platform budgets, with the two together taking roughly half of global cloud spending.

P/E: 21.5Score: 58Market cap: $400.95B

Oracle sells database, enterprise applications and OCI cloud capacity to the same large corporate IT departments Microsoft targets with SQL Server, Dynamics 365 and Azure.

P/E: 20.9Score: 73Market cap: $187.04B

Salesforce is the leading rival to Microsoft Dynamics 365 in cloud CRM and customer-service software, and both now sell AI agents on top of that same install base.

P/E: 19.5Score: 58Market cap: $207.90B

IBM competes for the same hybrid-cloud, middleware and enterprise IT-services contracts with large regulated customers, through Red Hat and its consulting arm.

SAP SESAPGF
P/E: 27.6Score: 64Market cap: $212.58B

SAP competes directly with Microsoft Dynamics 365 for enterprise resource planning deployments, especially among mid-size and large European manufacturers.

Alphabet Inc. (Google)GOOGL

Google competes with Microsoft on three fronts at once: Google Cloud against Azure, Google Workspace against Microsoft 365, and Google Search against Bing for advertising revenue.

Balance y Liquidez

Ingresos

$331.84B

Últimos 12 meses (hasta 30/6/2026)

Beneficio Neto

$133.75B

Últimos 12 meses (hasta 30/6/2026)

Flujo de Caja Libre

$66.99B

Patrimonio Neto Total

$442.39B

Pasivo Total

$315.99B

Ratio de Liquidez

1.23

Cobertura de Intereses

50.88

Deuda/EBITDA

0.66

Beneficio Por Acción

Ingresos y Beneficio Neto

Flujo de Caja Libre

Desglose de Ingresos

Estado histórico

Márgenes en el tiempo

La deuda en el tiempo

Cuánto pesa la deuda

Cuadro de crecimiento

Crecimiento — Ingresos

Estimación de Valor Justo

Caso generalValoración Justa

Valor Justo

$444.02

Precio Actual

$516.55

Margen de Seguridad

-16.3%

Rango de Valor Justo

$291.09 - $596.95

Dispersión entre los métodos de valoración utilizados, no un intervalo de confianza calibrado estadísticamente.

Métodos de Estimación

Precio objetivo de los analistas:$577.26
Flujo de caja descontado (DCF):$290.61
Múltiplo sobre beneficios (P/E):$434.72
Fórmula de crecimiento de Graham:$684.10
Valor de la capacidad de generar beneficios (EPV):$159.17
P/B justificado:$274.38
Descuento de dividendos (Gordon):$58.35
P/FFO, fondos de operaciones:Datos insuficientes para calcularlo
Beneficios de mitad de ciclo:$403.22
Múltiplo sobre ingresos:$227.63
Consenso de Analistas:Compra Fuerte (64B / 5H / 0S)
Última Sorpresa de Resultados:+9.53%

Métricas de Valoración

Ratio P/E

28.57

ROE

30.2%

Ratio P/B

8.61

P/FCF

56.86

Margen Bruto

67.9%

ROIC

20.8%

Radar de Rentabilidad

Creación de Valor (Ventaja Competitiva)

ROIC

20.8%

WACC

10.1%

ROIC − WACC

+10.8 pp

El ROIC supera el coste del capital: la empresa está creando valor para los accionistas.

Criterios de Análisis Fundamental

Superado (21)

  • EPS shows upward trend
  • EPS CAGR 13.39%
  • Price CAGR 23.20%
  • ROIC 20.8%
  • Gross Margin 67.9%
  • Debt/Equity ratio
  • Operating Margin 46.8%
  • Positive Free Cash Flow
  • Current Ratio
  • Interest Coverage
  • Debt/EBITDA
  • Return on Tangible Assets
  • ROE 33.2%
  • Revenue Growth 5Y 14.6%
  • Analyst Consensus 93% Buy
  • Earnings Surprise avg 6.4%
  • PEG Ratio 1.58
  • Earnings Quality (OCF/NI) 1.37
  • Share Dilution -0.2%
  • Net Margin Trend 40.3% vs 36.1%
  • Piotroski F-Score 6/9

Fallido (6)

  • P/FCF 56.86
  • P/B Ratio 8.61
  • CapEx intensity
  • Low reliance on intangibles
  • Price below Graham Number
  • DCF valuation (Overvalued)

No disponible (1)

  • Dividend Payout NaN%

Piotroski F-Score

6/9

Señales mixtas: algunas áreas requieren atención

score
criteria

Calidad de los Beneficios

1.37

Alta calidad: beneficios respaldados por efectivo

Dilución de Acciones

-0.2%

Recomprando acciones. Favorable para el accionista

Participaciones institucionales

Gobernanza

Equipo Directivo

NombreCargoEdad
Mr. Satya NadellaChairman & CEO58
Mr. Bradford L. Smith LCAPresident & Vice Chairman66
Ms. Amy E. HoodExecutive VP & CFO53
Mr. Takeshi NumotoExecutive VP & Chief Marketing Officer54
Mr. Judson B. AlthoffExecutive VP & CEO of Commercial Business52
Ms. Carolina Dybeck HappeExecutive VP & COO53
Ms. Alice L. JollaCorporate VP & Chief Accounting Officer59
Mr. Matthew KernerCTO & Corporate VP of Worldwide Sales and Solutions-
Jonathan NeilsonVice President of Investor Relations-
Mr. Jonathan M. PalmerCorporate Vice President & Chief Legal Officer-

Riesgo de Auditoría

9

Riesgo del Consejo

7

Riesgo de Compensación

5

Riesgo de Derechos del Accionista

2

Parte 2 · El precio y el momento de entrar

Esta parte no sirve para saber si la empresa vale: sirve para elegir cuándo comprarla, una vez que los fundamentales te han convencido. Dentro: análisis técnico, potencial, caídas históricas, exposición gamma.

Documentos

  • Informe anual (10-K)

    Un resumen anual del negocio, los resultados financieros y los riesgos de la empresa.

    Presentado el 2026-07-29

    Ver documento
  • Informe trimestral (10-Q)

    Una actualización del desempeño financiero de los últimos tres meses.

    Presentado el 2026-04-29

    Ver documento
  • Informe de hecho relevante (8-K)

    Un aviso sobre un hecho relevante, como un cambio de dirección o un anuncio importante.

    Presentado el 2026-09-02

    Ver documento

via SEC EDGAR

Historial de Resultados

via SEC EDGAR

Latest News

Recent headlines for MSFT, sourced from Markets Gazette.

  • 1d agoPOSITIVE
    Perché le azioni Microsoft sono salite del 2% mercoledì?

    Microsoft shares climbed approximately 2% on Wednesday following Piper Sandler's upgrade, which raised the price target to $610 from $550 while reiterating an 'Overweight' rating. This new target suggests an 18% upside potential from current trading levels, driven by elevated estimates and an expanded enterprise value/operating cash flow multiple. The brokerage firm's increased confidence stems from Microsoft's commercial cloud business prospects, particularly within Microsoft 365. The stock also benefited from broader market gains, spurred by US economic data indicating cooling inflation, which pushed Treasury yields lower and boosted the S&P 500.

  • 2d agoPOSITIVE
    Microsoft’s stock is on track to post its biggest quarterly gain in 28 years

    Microsoft's stock is poised for its largest quarterly gain in 28 years, driven by its prominent position in the AI sector and a broader market "flight to quality." This performance highlights investor confidence in Microsoft's strategic positioning and its ability to capitalize on emerging technologies. The sustained demand for AI-driven solutions is translating into significant shareholder value, making MSFT a standout performer in the current market environment. Investors are likely to see this trend continue as AI adoption accelerates across industries.

  • 5d agoPOSITIVE
    Microsoft VP: SaaS isn’t dying. It’s becoming the operating system for AI agents—and that changes everything

    Microsoft's VP asserts that Software-as-a-Service (SaaS) is evolving into the foundational operating system for AI agents, a paradigm shift that redefines its role in enterprise workflows. Contrary to expectations of a 'SaaS crash,' the technology is proving resilient and is now instrumental in eliminating human middleware, thereby streamlining operations. This evolution suggests a robust future for SaaS platforms, particularly those integrated with AI, promising enhanced efficiency and new avenues for innovation. Investors should note this strategic pivot, which could unlock significant growth potential for companies leading in AI-driven SaaS solutions.

  • 6d agoPOSITIVE
    Microsoft’s stock has roared back to life, closing at its highest level of the year

    Microsoft Corporation's stock has experienced a significant rebound, reaching its highest point of the year. Despite an initial sluggish start to the year, investor sentiment has shifted positively, largely driven by the company's compelling artificial intelligence narrative. This resurgence suggests that the market is increasingly valuing Microsoft's AI initiatives, potentially signaling future growth and innovation. Investors are likely to view this upward trend as a strong indicator of the company's strategic direction and its ability to capitalize on emerging technologies, reinforcing confidence in its long-term prospects.

  • 8d agoPOSITIVE
    Microsoft has ‘clearly turned the corner.’ How its stock can chart more gains.

    Stifel analyst Mark Schroeder has upgraded Microsoft's rating, citing the company's strong position to monetize its extensive computing power. This optimistic outlook suggests that Microsoft is poised for further stock appreciation, driven by its strategic advantages in leveraging its technological infrastructure. The analyst's confidence implies that recent performance and future growth prospects are robust, potentially attracting more investor interest and capital into the stock.

  • 10d agoPOSITIVE
    This is the ‘most underappreciated’ driver for Microsoft’s business, according to one analyst

    An analyst suggests that investors are overlooking a key growth driver for Microsoft: its software business. While the company's cloud-computing segment, Azure, is well-recognized for its revenue potential, the software division's contributions may be underestimated. This perspective implies that Microsoft's overall valuation could be higher if the market fully appreciates the ongoing strength and future prospects of its software products. Investors may want to re-evaluate Microsoft's diversified revenue streams beyond just cloud services.

via Markets Gazette