Microsoft: capex was 69% of operating cash flow over the last four quarters to 2026 Q3, up from 47% a year earlier
Free cash flow after capex $60.0B · Capex up 97% and operating income up 20% on the four quarters before · Contracted backlog up 72% on a year earlier · Backlog is the company's own filed figure for signed, undelivered contracts
Companies/Indices · What the spending is buying · SEC 10-Q and 10-K filings (cash flow statements) · 29 Sep 2026
Companies named: MSFT