Microsoft (MSFT) Operating Leases (2017 - 2026)
Microsoft's Operating Leases was $16.53 billion in fiscal Q4 2026 (quarter ended Jun 30, 2026), down 5.2% from $17.44 billion a year earlier and down 1.0% from the prior quarter.
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Analysis
Microsoft (MSFT) Operating Leases (2017 - 2026) Analysis & Trends
From fiscal Q4 2017 onward, Microsoft has reported Operating Leases for 37 quarters.
- Operating Leases shows a five-year compound annual growth rate of 11.4% (FY2021 to FY2026).
- In earlier fiscal years, Operating Leases was $17.44 billion in FY2025 (+12.5%), $15.5 billion in FY2024 (+21.8%), $12.73 billion in FY2023 (+10.8%) and $11.49 billion in FY2022 (+19.3%).
- The fiscal Q4 2026 figure marks the lowest quarterly Operating Leases since fiscal Q1 2025.
- Compared with a year earlier, Operating Leases was higher in six of the last eight quarters, with growth averaging 9.2%.
- The best year-over-year quarter for Operating Leases over five years was fiscal Q1 2022 (growth of 29.6%); the worst was fiscal Q3 2026 (a decline of 5.6%).
- Per Business Quant data, MSFT's Operating Leases in the three fiscal quarters before Q4 2026 was $16.7 billion (Q3 2026), $17.35 billion (Q2 2026) and $17.35 billion (Q1 2026).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Microsoft | 3,932.24 Bn | 3,855.40 Bn | 60.48 Bn |
| 2 | International Business Machines | 219.04 Bn | 169.85 Bn | 9.91 Bn |
| 3 | Cloudflare | 104.70 Bn | 88.23 Bn | 499.52 Mn |
| 4 | Equinix | 97.19 Bn | 85.75 Bn | 1.40 Bn |
| 5 | Nebius | 40.23 Bn | 13.66 Bn | 448.70 Mn |
| 6 | CoreWeave | 33.76 Bn | 20.85 Bn | 1.70 Bn |
| 7 | Verisign | 27.46 Bn | 24.67 Bn | 384.60 Mn |
| 8 | Nutanix | 17.98 Bn | 9.67 Bn | 651.35 Mn |
| 9 | GoDaddy | 13.83 Bn | 9.41 Bn | 828.20 Mn |
| 10 | Akamai Technologies | 12.69 Bn | 6.10 Bn | 613.75 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 16.53 Bn |
| Mar 31, 2026 | 16.70 Bn |
| Dec 31, 2025 | 17.35 Bn |
| Sep 30, 2025 | 17.35 Bn |
| Jun 30, 2025 | 17.44 Bn |
| Mar 31, 2025 | 17.69 Bn |
| Dec 31, 2024 | 17.25 Bn |
| Sep 30, 2024 | 16.36 Bn |
| Jun 30, 2024 | 15.50 Bn |
| Mar 31, 2024 | 14.47 Bn |
| Dec 31, 2023 | 14.16 Bn |
| Sep 30, 2023 | 13.49 Bn |
| Jun 30, 2023 | 12.73 Bn |
| Mar 31, 2023 | 12.31 Bn |
| Dec 31, 2022 | 12.00 Bn |
| Sep 30, 2022 | 11.66 Bn |
| Jun 30, 2022 | 11.49 Bn |
| Mar 31, 2022 | 11.36 Bn |
| Dec 31, 2021 | 10.77 Bn |
| Sep 30, 2021 | 10.05 Bn |
API Access
Microsoft Operating Leases 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-leases&ticker=MSFT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-leases", "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-leases&ticker=MSFT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();