- Balance sheet
- Microsoft has the highest credit ratingsCash: AAA from$76.8B
Debt: $46.1B
Net cash: $30.7B
Interest cover: 50×
Debt due within 12 months: $9.3B
Ratings: S&P and Aaa fromAAA, Moody's. Moody's affirmed its rating with a Aaa (stable outlook on August 21)
Microsoft has the highest credit ratings, 2026. Itsand its bond debt is small. At June 30It pays for much of its data center build-out through leases, 2026not bonds, it had $46and these leases fix a large part of future costs, even if AI demand does not hold.1 billion Debt is the face value of senior unsecured notes at June 30, with $9.25 billion2026, and the amount due inwithin 12 months is for the year to June 2027. Against thisMoody's affirmed its rating on August 21, it had $762026.8 billion of cash and short-term investments. It Microsoft issued no new bonds in fiscal 2026. It pays for much of its data center build-out through leases, not bonds. Finance lease liabilities rose to $66.6 billion from $46.2 billion a year earlier, and operating lease liabilities were $21.9 billion. Leases that had not started yet added $329.1 billion of future commitments. InInterest cover is for fiscal 2026, operating incomeand most of $155.2 billion covered interest expense of $3.05 billion about 50 times. Most of that interest now comes from finance leases. Operating cash flow of $182.9 billion paid for capital expenditure of $115.9 billion, dividends of $26.4 billion and buybacks of $22.3 billion. The balance sheet gives room to keep spending and returning cash. But the lease commitments fix a large part of future costs, even if AI demand does not hold.
As of 2026-06-30.