API
Agora, Inc.
API's outlook is improving, though it still trails on the overall score.
MSFT
Microsoft Corporation
MSFT has the edge over API overall, supported by stronger valuation and stronger modeled upside.
API Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Under pressure | |
| Stable |
API's revenue is currently healthy, and its profitability and balance sheet are stable, but its cash flow is under pressure.
MSFT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Healthy | |
| Strong |
MSFT's revenue, profitability, cash flow and balance sheet are all currently healthy.
API PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 36x | $4.09 | — |
| Cheap | 38x | $4.17 | +1.9% |
| Fair | 41x | $4.51 | +10% |
| Expensive | 82x | $9.03 | +121% |
Historical ranges are pointers, not guarantees.
API has the edge over MSFT in the historical PE scenario, which offers more potential upside but is not a forecast.
MSFT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 25x | $523 | — |
| Cheap | 27x | $525 | +0.4% |
| Current | 27x | $523 | — |
| Fair | 34x | $652 | +25% |
| Expensive | 37x | $711 | +36% |
Historical ranges are pointers, not guarantees.
MSFT's PE is in its cheap range at 27x. If earnings grow as analysts expect, today's price would be 25x next year's earnings.
API Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Stable | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect API's losses to shrink, with revenue holding steady.
MSFT Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Strong growth | |
| Stable | |
| Moderate | |
| High |
Analysts expect strong earnings and revenue growth for MSFT, with profitability holding steady.
API Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $0.11 | +$0.35 |
| Q1 2026 | $0.11 | +$0.46 |
| Q4 2025 | $0.10 | +$0.56 |
| Q3 2025 | $0.05 | +$0.54 |
| Q2 2025 | -$0.24 | +$0.22 |
| Q1 2025 | -$0.35 | +$0.45 |
| Q4 2024 | -$0.46 | +$0.40 |
| Q3 2024 | -$0.49 | +$0.66 |
API has returned to profit: it earned $0.11 per share over the past year, after losing money the year before. Its recent earnings include one-off gains.
MSFT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $20.79 | +8.6% |
| Q3 2026 | $19.15 | +36% |
| Q2 2026 | $17.95 | +32% |
| Q1 2026 | $16.80 | +30% |
| Q4 2025 | $15.99 | +29% |
| Q3 2025 | $14.06 | +16% |
| Q2 2025 | $13.64 | +16% |
| Q1 2025 | $12.93 | +12% |
| Q4 2024 | $12.41 | +12% |
MSFT's earnings per share have climbed steadily: $19.15 over the past year, up 36% from the year before, and higher year over year for 14 quarters in a row.
API Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $40.5M | +18% |
| Q1 2026 | $37.9M | +14% |
| Q4 2025 | $38.2M | +11% |
| Q3 2025 | $35.4M | +12% |
| Q2 2025 | $34.3M | +0.1% |
| Q1 2025 | $33.3M | +0.8% |
| Q4 2024 | $34.5M | -4.4% |
| Q3 2024 | $31.6M | -9.8% |
API's revenue has grown year over year for six quarters in a row: $40M last quarter, up 18% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -3.8% | +5.3 points |
| Q1 2026 | -6.5% | +4.6 points |
| Q4 2025 | -2.6% | +12 points |
| Q3 2025 | -4.5% | +74 points |
| Q2 2025 | -9.1% | +23 points |
| Q1 2025 | -11% | +27 points |
| Q4 2024 | -14% | +9 points |
| Q3 2024 | -78% | -39 points |
API's operating margin was −3.8% last quarter, up 5.3 points from the same quarter a year ago.
MSFT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $92.3B | +19% |
| Q2 2026 | $90B | +18% |
| Q1 2026 | $82.9B | +18% |
| Q4 2025 | $81.3B | +17% |
| Q3 2025 | $77.7B | +18% |
| Q2 2025 | $76.4B | +18% |
| Q1 2025 | $70.1B | +13% |
| Q4 2024 | $69.6B | +12% |
MSFT has the edge over API on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 50% | +0.9 points |
| Q2 2026 | 45% | +0.2 points |
| Q1 2026 | 46% | +0.7 points |
| Q4 2025 | 47% | +1.6 points |
| Q3 2025 | 49% | +2.3 points |
| Q2 2025 | 45% | +1.8 points |
| Q1 2025 | 46% | +1.1 points |
| Q4 2024 | 45% | +1.9 points |
MSFT has the edge over API on profitability, with a higher operating margin.
API Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$8.1M | -$3.9M |
| Q1 2026 | -$3.7M | -155% |
| Q4 2025 | $4.7M | +$11.2M |
| Q3 2025 | -$12M | +$4.9M |
| Q2 2025 | -$4.1M | +$8M |
| Q1 2025 | $6.7M | +$20.6M |
| Q4 2024 | -$6.5M | -$2.8M |
| Q3 2024 | -$16.9M | -$11.8M |
API has burned cash in most quarters: −$19M over the past year, against −$21M the year before.
MSFT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $18.6B | -27% |
| Q2 2026 | $19.6B | -23% |
| Q1 2026 | $15.8B | -22% |
| Q4 2025 | $5.9B | -9.3% |
| Q3 2025 | $25.7B | +33% |
| Q2 2025 | $25.6B | +9.6% |
| Q1 2025 | $20.3B | -3.2% |
| Q4 2024 | $6.5B | -29% |
MSFT has the edge over API on cash generation, producing positive trailing cash flow while its opponent burns cash.
API Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -2.3% | -2.2M shares |
| 1 year | -5.9% | -5.8M shares |
| 3 years | -8.1% | -8.1M shares |
| 5 years | -16% | -18M shares |
| Available history | -9.3% | -9.5M shares |
API has the edge over MSFT on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | $3.7M |
| Q1 2026 | $13.3M |
| Q4 2025 | $10.9M |
| Q3 2025 | $4.7M |
| Q2 2025 | $10.9M |
| Q1 2025 | $1.2M |
| Q4 2024 | $1.4M |
| Q3 2024 | $3.9M |
API spent $33M buying back its own shares over the past year, up 88% from the year before.
MSFT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.1% | -7M shares |
| 1 year | -0.3% | -20M shares |
| 3 years | -0.2% | -16M shares |
| 5 years | -1.6% | -121M shares |
| Available history | -3.2% | -245M shares |
MSFT has 7.4B diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $4.4B |
| Q2 2026 | $4.6B |
| Q1 2026 | $4.6B |
| Q4 2025 | $7.4B |
| Q3 2025 | $5.7B |
| Q2 2025 | $4.5B |
| Q1 2025 | $4.8B |
| Q4 2024 | $5B |
MSFT spent $21B buying back its own shares over the past year, up 5.2% from the year before.
API Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 2.1x | Moderate |
| Q1 2026 | -0.7x | Net Cash |
| Q4 2025 | 0.4x | Very low |
| Q3 2025 | -0.3x | Net Cash |
| Q3 2020 | -111.5x | Net Cash |
| Q2 2020 | -114.0x | Net Cash |
API's net debt is about 2.0 years of its operating earnings (EBITDA), after holding more cash than debt a year ago.
MSFT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.1x | Very low |
| Q2 2026 | 0.1x | Very low |
MSFT has the edge over API on leverage, with a lower net debt burden relative to earnings.
API Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.5 | Neutral |
| Stochastic | 35.3 | Neutral |
API's weekly RSI is 48 (neutral) and its Stochastic is 35 (neutral).
MSFT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 62.1 | Neutral |
| Stochastic | 68.0 | Neutral |
MSFT's weekly RSI is 62 (neutral) and its Stochastic is 68 (neutral).
API PE vs Technology Sector
| Metric | API | Sector median | Relative |
|---|---|---|---|
| PE | 36x | 28x | 28% above |
| PE % | 2 | 36 | 34 pts below |
API is trading at 36x earnings, a 28% premium to the Technology sector's median of 28x, though its earnings don't support one.
MSFT PE vs Technology Sector
| Metric | MSFT | Sector median | Relative |
|---|---|---|---|
| PE | 27x | 28x | 2% below |
| PE % | 16 | 35 | 19 pts below |
MSFT has the edge over API on valuation relative to its sector.
API Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $4.23 | 3.3% below |
| 20 week MA | $4.19 | 2.4% below |
| 50 week MA | $4.13 | 1% below |
| 100 week MA | $4.08 | 0.2% above |
| 200 week MA | $3.54 | 16% above |
API has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 16% above its 200-week average.
MSFT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $524.7 | 0.3% below |
| 20 week MA | $484.8 | 7.9% above |
| 50 week MA | $446.9 | 17% above |
| 100 week MA | $453.8 | 15% above |
| 200 week MA | $411.5 | 27% above |
MSFT has the edge over API on trend strength, trading above more of its moving averages.
API Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $50.5 | $42.4 | -16% |
| 2021 | $42.4 | $16.7 | -61% |
| 2022 | $16.7 | $4.02 | -76% |
| 2023 | $4.02 | $2.63 | -35% |
| 2024 | $2.63 | $4.40 | +67% |
| 2025 | $4.40 | $3.93 | -11% |
| 2026 YTD | $3.93 | $4.09 | +4.1% |
API has finished lower in five of the last six years. It's up 4.1% so far in 2026.
MSFT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $159.0 | $222.8 | +40% |
| 2021 | $222.8 | $334.7 | +50% |
| 2022 | $334.7 | $238.7 | -29% |
| 2023 | $238.7 | $376.0 | +58% |
| 2024 | $376.0 | $430.5 | +14% |
| 2025 | $430.5 | $487.7 | +13% |
| 2026 YTD | $487.7 | $523.0 | +7.2% |
MSFT has the edge over API on returns for 2026, with the stronger performance.