What is Microsoft's inventories?

Microsoft (MSFT) reported inventories of $1.22B in Q1 2026.

How has Microsoft's inventories changed year-over-year?

Microsoft's inventories increased by 43.8% year-over-year, from $848M to $1.22B.

What is the long-term trend for Microsoft's inventories?

Over 4 years (2021 to 2025), Microsoft's inventories has grown at a -22.8% compound annual growth rate (CAGR), from $2.64B to $938M.

What does inventories mean?

Total inventory including raw materials, work-in-progress, and finished goods, valued at the lower of cost or net realizable value.

Microsoft MSFT Inventories

Inventories at other companies

International Business MachinesIBM

$1.48B+3.1%

AppleAAPL

$6.75B+7.6%

AmazonAMZN

$36.53B+1.9%

FortinetFTNT

$369.6M+1.9%

Alphabet Inc.GOOG

$9.99B—

Corvex MOVE

$1.78M-21.3%

Other financials

Income statement

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Revenue$82.9B+18.3%

Gross profit$56.1B+16.4%

Operating income$38.4B+20.0%

Net income$31.8B+23.1%

EPS (diluted)$4.27+23.4%

Balance sheet

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Cash & equivalents$32.1B+11.4%

Total debt$125.43B+19.4%

Total equity$414.37B+28.7%

Total assets$694.23B+23.4%

Cash flow

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Operating cash flow$46.7B+26.0%

CapEx$30.9B+84.4%

Free cash flow$15.8B-22.1%

Valuation

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Market cap$2.83T-25.4%

Enterprise value$2.93T-24.5%

P/E22.6×-14.7×

P/S8.9×-4.6×

Profitability

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Gross margin68.3%-0.8pp

Operating margin46.8%+1.6pp

Net margin39.3%+3.6pp

FCF margin22.9%-2.8pp

Returns & leverage

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Return on equity34%+0.4pp

Debt / equity0.3×0.0×

Current ratio1.3×-0.1×

Where this comes from

Reported directly by Microsoft in its filing.

Tagged under the XBRL concept us-gaap:InventoryNet.

The official record: Microsoft’s 10-Q, filed April 29, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Microsoft's inventories?: Microsoft (MSFT) reported inventories of $1.22B in Q1 2026.
How has Microsoft's inventories changed year-over-year?: Microsoft's inventories increased by 43.8% year-over-year, from $848M to $1.22B.
What is the long-term trend for Microsoft's inventories?: Over 4 years (2021 to 2025), Microsoft's inventories has grown at a -22.8% compound annual growth rate (CAGR), from $2.64B to $938M.
What does inventories mean?: Total inventory including raw materials, work-in-progress, and finished goods, valued at the lower of cost or net realizable value.