Microsoft
MSFT · Systems Software
$524.51
0.7%Nvidia
NVDA · Semiconductors
$210.96
0.6%The short version
- Microsoft is the larger business, with $331.8B of revenue in fiscal 2026 against $215.9B for Nvidia, about 1.5 times as much.
- Nvidia grew revenue faster (65.5%, against 17.8%).
- Nvidia kept more of each dollar of sales as operating profit (60.4% operating margin, against 46.8% operating margin).
- Nvidia turned more of its sales into free cash flow (44.8% FCF margin, against 20.2% FCF margin).
- Investors pay more for each dollar of Microsoft’s earnings: a P/E of 29.2x against 26.7x for Nvidia.
| Latest fiscal year | MSFT · FY26 | NVDA · FY26 |
|---|---|---|
| Size | ||
| Market cap | $3.91T | $5.12T |
| Revenue | $331.8B | $215.9B |
| Free cash flow | $67.0B | $96.7B |
| Net income | $133.7B | $120.1B |
| Growth | ||
| Revenue growth | 17.8% | 65.5% |
| 5-year growth | 14.6% | 66.9% |
| Share count change | −0.2% | −1.2% |
| Profitability | ||
| Gross margin | 67.9% | 71.1% |
| Operating margin | 46.8% | 60.4% |
| Net margin | 40.3% | 55.6% |
| FCF margin | 20.2% | 44.8% |
| Return on capital | 30.9% | — |
| Return on equity | 34.0% | 101.5% |
| Balance sheet | ||
| Net debt | $30.0B | — |
| Net debt / EBITDA | 0.2x | — |
| Dividends and buybacks | $48.7B | $41.1B |
| Valuation & quality | ||
| P/E | 29.2x | 26.7x |
| Piotroski F-score | 6 | 4 |
FY17
MSFT $96.6B
NVDA $6.9B
FY18
MSFT $110.4B
NVDA $9.7B
FY19
MSFT $125.8B
NVDA $11.7B
FY20
MSFT $143.0B
NVDA $10.9B
FY21
MSFT $168.1B
NVDA $16.7B
FY22
MSFT $198.3B
NVDA $26.9B
FY23
MSFT $211.9B
NVDA $27.0B
FY24
MSFT $245.1B
NVDA $60.9B
FY25
MSFT $281.7B
NVDA $130.5B
FY26
MSFT $331.8B
NVDA $215.9B
MSFT
NVDA
FY17
MSFT 30.1%
NVDA 28.0%
FY18
MSFT 31.8%
NVDA 33.1%
FY19
MSFT 34.1%
NVDA 32.5%
FY20
MSFT 37.0%
NVDA 26.1%
FY21
MSFT 41.6%
NVDA 27.2%
FY22
MSFT 42.1%
NVDA 37.3%
FY23
MSFT 41.8%
NVDA 15.7%
FY24
MSFT 44.6%
NVDA 54.1%
FY25
MSFT 45.6%
NVDA 62.4%
FY26
MSFT 46.8%
NVDA 60.4%
MSFT
NVDA
FY17
MSFT $31.4B
NVDA —
FY18
MSFT $32.3B
NVDA —
FY19
MSFT $38.3B
NVDA —
FY20
MSFT $45.2B
NVDA —
FY21
MSFT $56.1B
NVDA —
FY22
MSFT $65.1B
NVDA $8.1B
FY23
MSFT $59.5B
NVDA $3.8B
FY24
MSFT $74.1B
NVDA $27.0B
FY25
MSFT $71.6B
NVDA $60.9B
FY26
MSFT $67.0B
NVDA $96.7B
MSFT
NVDA
FY17
MSFT 74.1%
NVDA —
FY18
MSFT 48.1%
NVDA 185.8%
FY19
MSFT 100.6%
NVDA 121.6%
FY20
MSFT 86.8%
NVDA 74.4%
FY21
MSFT 88.0%
NVDA 57.1%
FY22
MSFT 69.4%
NVDA 68.8%
FY23
MSFT 50.2%
NVDA 23.4%
FY24
MSFT 41.5%
NVDA 124.9%
FY25
MSFT 34.7%
NVDA 198.2%
FY26
MSFT 30.9%
NVDA —
MSFT
NVDA
Add another company
Compare up to four at once.
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.