Microsoft (MSFT) Operating Expenses (2009 - 2026)
Microsoft (MSFT) reported Operating Expenses of $12.28 billion for fiscal Q4 2026 (quarter ended Jun 30, 2026), up 13.5% from $10.82 billion a year earlier and up 13.3% from the prior quarter.
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Analysis
Microsoft (MSFT) Operating Expenses (2009 - 2026) Analysis & Trends
For FY2026 (ended Jun 30, 2026), Microsoft posted Operating Expenses of $43.52 billion, up 9.6% from FY2025.
- Operating Expenses has increased for ten consecutive fiscal years, with a five-year compound annual growth rate of 11.0% (FY2021 to FY2026).
- By fiscal year, Operating Expenses came in at $39.71 billion in FY2025 (+7.0%), $37.12 billion in FY2024 (+6.8%), $34.77 billion in FY2023 (+14.3%) and $30.41 billion in FY2022 (+17.8%).
- The fiscal Q4 2026 figure ranks as the highest quarterly Operating Expenses since fiscal Q4 2015.
- Year over year, Operating Expenses has now increased in each of the last ten quarters, with growth averaging 8.4% over the last eight quarters.
- The high point for year-over-year Operating Expenses in five years was fiscal Q2 2023 (growth of 28.5%); the low point was fiscal Q2 2024 (a decline of 0.7%).
- Per Business Quant data, the three fiscal quarters before Q4 2026 came in at $10.85 billion (Q3 2026), $10.44 billion (Q2 2026) and $9.95 billion (Q1 2026).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,781.98 Bn | 3,705.13 Bn | 60.48 Bn | 12.28 Bn |
| 2 | International Business Machines | 207.92 Bn | 158.82 Bn | 9.91 Bn | 7.29 Bn |
| 3 | Cloudflare | 114.07 Bn | 97.60 Bn | 499.52 Mn | 705.21 Mn |
| 4 | Equinix | 99.76 Bn | 88.32 Bn | 1.40 Bn | 1.96 Bn |
| 5 | Nebius | 58.67 Bn | 32.10 Bn | 448.70 Mn | 758.20 Mn |
| 6 | CoreWeave | 46.87 Bn | 33.97 Bn | 1.70 Bn | 2.62 Bn |
| 7 | Verisign | 25.50 Bn | 22.71 Bn | 384.60 Mn | 138.30 Mn |
| 8 | Nutanix | 18.59 Bn | 10.27 Bn | 651.35 Mn | 581.36 Mn |
| 9 | Akamai Technologies | 15.65 Bn | 9.06 Bn | 613.75 Mn | 1.02 Bn |
| 10 | DigitalOcean Holdings | 14.31 Bn | 12.31 Bn | 154.66 Mn | 125.29 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 12.28 Bn |
| Mar 31, 2026 | 10.85 Bn |
| Dec 31, 2025 | 10.44 Bn |
| Sep 30, 2025 | 9.95 Bn |
| Jun 30, 2025 | 10.82 Bn |
| Mar 31, 2025 | 9.94 Bn |
| Dec 31, 2024 | 9.74 Bn |
| Sep 30, 2024 | 9.22 Bn |
| Jun 30, 2024 | 10.30 Bn |
| Mar 31, 2024 | 9.57 Bn |
| Dec 31, 2023 | 9.12 Bn |
| Sep 30, 2023 | 8.13 Bn |
| Jun 30, 2023 | 8.94 Bn |
| Mar 31, 2023 | 8.63 Bn |
| Dec 31, 2022 | 9.18 Bn |
| Sep 30, 2022 | 8.03 Bn |
| Jun 30, 2022 | 8.60 Bn |
| Mar 31, 2022 | 7.79 Bn |
| Dec 31, 2021 | 7.14 Bn |
| Sep 30, 2021 | 6.89 Bn |
API Access
Microsoft Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=MSFT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "MSFT", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=MSFT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();