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Microsoft: An Owner's Manual for Investors

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Microsoft An Owner's Manual for Investors


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As an owner of Microsoft's stock you're entitled to a share of its earnings.


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$12.3 Billion Microsoft's 12-Month Earnings $1.49 NOT TO SCALE obviously Microsoft's Earnings Per Share


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If you divide Microsoft's share price by its earnings per share (EPS), you get its price-to-earnings ratio.


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Share Price $54.35 P/E = = Ratio EPS $1.49 This is how much it costs to buy $1 of Microsoft's annual earnings. = 36.39


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A higher P/E ratio implies a lower potential return.


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What Is a Typical Stock's P/E Ratio? P/E Ratio 1,000 Most companies have P/E ratios between 12 and 30. 100 10 1 100 Biggest S&P Companies


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You can also use Microsoft's P/E ratio to derive its earnings yield.


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Microsoft's Earnings = Yield 1 P/E Ratio 1 = = 2.7% 36.39


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This helps you compare a stock to other types of investments, such as bonds and real estate.


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Average Rates of Return 6.63% 4.33% 2.21% 2.45% 10-Year Treasuries 5-Year CDs 2.90% 10-Year AAA Corp. Bonds 2.75% S&P 500 Earnings Yield Class A Office Building Cap Rate Microsoft's Earnings Yield


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Of course, if you own one share of Microsoft stock, you don't get a check each year for its EPS.


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You receive quarterly dividends instead, which typically account for only a portion of total earnings.


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Microsoft's Payout Ratio The payout ratio is the percentage of earnings paid as dividends. Anywhere from 30% to 70% is normal. 82%


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2.65% Microsoft's Dividend Yield


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Microsoft's Dividend = Yield Dividend per Share Share Price $1.44 = = $54.35 2.65%


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You can then use this to compare stocks based on their incomegenerating potential.


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Representative Dividend Yields 3.70% 3.32% 2.75% 2.65% 1.67% 0.71% Microsoft Exxon Wal-Mart Wells Fargo Comcast Visa


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Microsoft also buys back its own stock.


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This reduces its share count, which increases the ownership interest of each remaining share.


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$15.7 Billion Microsoft's Buybacks (TTM) Change in Microsoft's Share Count (TTM) -3.1%


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So, what does the future hold for Microsoft's stock?


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If the Past Is Prologue... Total return since Jan. 1, 2005 200% Microsoft 159% 150% 100% S&P 500 116% 50% 0% 2005 -50% 2007 2009 2011 2013 Today


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While it's impossible to predict the future with precision, analysts expect Microsoft's earnings to grow.


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Divining Microsoft's Future Average Earnings per Share Estimate Among Wall Street Analysts $3.01 $2.70 Current Fiscal Year Next Fiscal Year


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