Stock price
Market cap
At each fiscal year end: closing price × shares outstanding.
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| Period | Market cap |
|---|---|
| FY2017, ended May 31, 2017 | $52.0B |
| FY2018, ended May 31, 2018 | $66.2B |
| FY2019, ended May 31, 2019 | $40.2B |
| FY2020, ended May 31, 2020 | $34.2B |
| FY2021, ended May 31, 2021 | $84.2B |
| FY2022, ended May 31, 2022 | $58.4B |
| FY2023, ended May 31, 2023 | $54.8B |
| FY2024, ended May 31, 2024 | $62.0B |
| FY2025, ended May 31, 2025 | $51.4B |
| FY2026, ended May 31, 2026 | $97.4B |
Revenue
By fiscal year
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| Period | Revenue |
|---|---|
| FY2017, ended May 31, 2017 | $60.3B |
| FY2018, ended May 31, 2018 | $65.5B |
| FY2019, ended May 31, 2019 | $69.7B |
| FY2020, ended May 31, 2020 | $69.2B |
| FY2021, ended May 31, 2021 | $84.0B |
| FY2022, ended May 31, 2022 | $93.5B |
| FY2023, ended May 31, 2023 | $90.2B |
| FY2024, ended May 31, 2024 | $87.7B |
| FY2025, ended May 31, 2025 | $87.9B |
| FY2026, ended May 31, 2026 | $94.7B |
Net income and free cash flow
By fiscal year. Free cash flow is operating cash flow minus capex.
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| Period | Net income | Free cash flow |
|---|---|---|
| FY2017, ended May 31, 2017 | $3.00B | −$186M |
| FY2018, ended May 31, 2018 | $4.57B | −$989M |
| FY2019, ended May 31, 2019 | $540M | $123M |
| FY2020, ended May 31, 2020 | $1.29B | −$771M |
| FY2021, ended May 31, 2021 | $5.23B | $4.25B |
| FY2022, ended May 31, 2022 | $3.83B | $3.07B |
| FY2023, ended May 31, 2023 | $3.97B | $2.67B |
| FY2024, ended May 31, 2024 | $4.33B | $3.14B |
| FY2025, ended May 31, 2025 | $4.09B | $2.98B |
| FY2026, ended May 31, 2026 | $4.43B | $5.12B |
Cash and cash equivalents
At each fiscal year end.
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| Period | Cash and cash equivalents |
|---|---|
| FY2017, ended May 31, 2017 | $3.97B |
| FY2018, ended May 31, 2018 | $3.27B |
| FY2019, ended May 31, 2019 | $2.32B |
| FY2020, ended May 31, 2020 | $4.88B |
| FY2021, ended May 31, 2021 | $7.09B |
| FY2022, ended May 31, 2022 | $6.90B |
| FY2023, ended May 31, 2023 | $6.86B |
| FY2024, ended May 31, 2024 | $6.50B |
| FY2025, ended May 31, 2025 | $5.50B |
| FY2026, ended May 31, 2026 | $13.3B |
Total debt
At each fiscal year end. Short- and long-term borrowings, excluding leases.
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| Period | Total debt |
|---|---|
| FY2017, ended May 31, 2017 | $14.9B |
| FY2018, ended May 31, 2018 | $16.5B |
| FY2019, ended May 31, 2019 | $17.5B |
| FY2020, ended May 31, 2020 | $21.5B |
| FY2021, ended May 31, 2021 | $19.4B |
| FY2022, ended May 31, 2022 | $19.8B |
| FY2023, ended May 31, 2023 | $19.8B |
| FY2024, ended May 31, 2024 | $19.8B |
| FY2025, ended May 31, 2025 | $19.9B |
| FY2026, ended May 31, 2026 | $24.2B |
Shares outstanding
At each fiscal year end, adjusted for splits. Down 11.8% since FY17.
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| Period | Shares outstanding |
|---|---|
| FY2017, ended May 31, 2017 | 268M |
| FY2018, ended May 31, 2018 | 266M |
| FY2019, ended May 31, 2019 | 261M |
| FY2020, ended May 31, 2020 | 262M |
| FY2021, ended May 31, 2021 | 267M |
| FY2022, ended May 31, 2022 | 260M |
| FY2023, ended May 31, 2023 | 251M |
| FY2024, ended May 31, 2024 | 244M |
| FY2025, ended May 31, 2025 | 236M |
| FY2026, ended May 31, 2026 | 237M |
Buybacks and new shares
By fiscal year, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.
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| Period | Bought back | Paid to employees |
|---|---|---|
| FY2017, ended May 31, 2017 | $509M | $154M |
| FY2018, ended May 31, 2018 | $1.02B | $167M |
| FY2019, ended May 31, 2019 | $1.48B | $174M |
| FY2020, ended May 31, 2020 | $3.00M | $168M |
| FY2021, ended May 31, 2021 | — | $200M |
| FY2022, ended May 31, 2022 | $2.25B | $190M |
| FY2023, ended May 31, 2023 | $1.50B | $182M |
| FY2024, ended May 31, 2024 | $2.50B | $163M |
| FY2025, ended May 31, 2025 | $3.02B | $154M |
| FY2026, ended May 31, 2026 | $796M | $177M |
Valuation
At current price- Market Cap
- $72.7B
- P/E
- 16.4×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 0.8×
- Price / Book
- 2.3×
- EV / EBITDA
- 8.5×
Growth
Trailing 12 months- Revenue (TTM)
- $94.7B
- Revenue Growth YoY
- 7.7%
- Revenue CAGR 3Y
- 1.7%
- Revenue CAGR 5Y
- 2.4%
- EPS Growth YoY
- 10.4%
- Net Income Growth YoY
- 8.3%
Profitability
Trailing 12 months- Gross Margin
- —
- Operating Margin
- 5.8%
- Net Margin
- 4.7%
- FCF Margin
- 5.4%
- Return on Equity
- 14.8%
Earnings
Trailing 12 months- Net Income
- $4.43B
- EPS (diluted)
- $18.55
- EBITDA
- $9.83B
- Operating Income
- $5.46B
Balance Sheet
As of May 31, 2026- Cash and cash equivalents
- $13.3B
- Total Debt
- $24.2B
- Net Debt
- $10.9B
- Total Assets
- $98.9B
- Total Liabilities
- $67.3B
- Shareholders' Equity
- $31.6B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $8.93B
- Capital Expenditure
- $3.81B
- Free Cash Flow
- $5.12B
Dividends and risk
Last 12 months- Dividend Yield
- 1.6%
- Dividend / Share
- $4.78
- Beta (5Y)
- 1.29
Every ratio is calculated from the company’s reported figures.