Return on Capital Employed snapshot
Microsoft Corporation's return on capital employed was 26.9% in FY2025, compared with 28.3% in FY2024. On a trailing-twelve-month basis it was 26.7% as of Q3 FY26. Return on capital employed (ROCE) is operating income divided by capital employed (total assets less current liabilities). It measures operating return relative to long-term capital.
Return on Capital Employed (latest FY)
26.9%
Return on Capital Employed (TTM)
26.7%
Return on equity (latest FY)
29.6%
Return on invested capital (latest FY)
26.3%
Microsoft Corporation Return on Capital Employed
Operating income ÷ (total assets − current liabilities)
Return on Capital Employed vs. related metrics
Microsoft Corporation Return on Capital Employed — by fiscal year
| Fiscal year | Return on capital employed | Return on equity | Return on invested capital |
|---|---|---|---|
| FY2025 | 26.9% | 29.6% | 26.3% |
| FY2024 | 28.3% | 32.8% | 27.2% |
| FY2023 | 28.8% | 35.1% | 30.4% |
| FY2022 | 30.9% | 43.7% | 33.3% |
| FY2021 | 28.5% | 43.2% | 30.4% |
| FY2020 | 23.1% | 37.4% | 24.9% |
| FY2019 | 19.8% | 38.3% | 22.7% |
| FY2018 | 17.5% | 20.0% | 10.5% |
| FY2017 | 14.9% | 29.1% | 13.9% |
| FY2016 | 19.4% | 24.7% | 14.6% |
| FY2015 | 14.5% | 15.2% | 10.4% |
| FY2014 | 21.9% | 24.6% | 20.8% |
| FY2013 | 25.5% | 27.7% | 23.8% |
| FY2012 | 24.6% | 25.6% | 23.3% |
| FY2011 | 34.0% | 40.6% | 37.7% |
| FY2010 | 40.2% | 40.6% | 38.0% |
| FY2009 | 40.0% | 36.8% | 38.2% |
| FY2008 | — | 48.7% | — |
| FY2007 | — | — | — |
By quarter (trailing-twelve-month basis)
| Quarter | Return on capital employed | Return on equity | Return on invested capital |
|---|---|---|---|
| Q3 FY26 | 26.7% | 30.2% | 24.9% |
| Q2 FY26 | 26.6% | 30.5% | 24.8% |
| Q1 FY26 | 27.1% | 28.9% | 25.9% |
| Q4 FY25 | 26.9% | 29.6% | 26.3% |
| Q3 FY25 | 27.2% | 30.0% | 26.6% |
| Q2 FY25 | 27.7% | 30.6% | 26.2% |
| Q1 FY25 | 27.7% | 31.5% | 26.9% |
| Q4 FY24 | 28.3% | 32.8% | 27.2% |
| Q3 FY24 | 28.9% | 34.0% | 26.9% |
| Q2 FY24 | 28.8% | 34.6% | 26.0% |
| Q1 FY24 | 29.3% | 34.9% | 33.1% |
| Q4 FY23 | 28.8% | 35.1% | 30.4% |
Figures normalized from SEC filings. See the full Microsoft Corporation ratios & metrics.