MSFT
Microsoft Corporation
MSFT has the edge over TLS overall, supported by lower modeled downside and stronger valuation.
TLS
Telos Corporation
TLS offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
MSFT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Healthy | |
| Strong |
MSFT's revenue, profitability, cash flow and balance sheet are all currently healthy.
TLS Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Strong | |
| Strong |
TLS's revenue, cash flow and balance sheet are currently healthy, and its profitability is stable.
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.
TLS PE Valuation
TLS has no meaningful PE right now: it lost money over the past year.
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.
TLS Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
TLS has the edge over MSFT on the outlook, with more favorable profitability expectations.
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 has the edge over TLS on earnings quality, reporting a profit while its opponent remains loss making.
TLS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.28 | — |
| Q3 2026 | -$0.12 | +$0.29 |
| Q2 2026 | -$0.21 | +$0.56 |
| Q1 2026 | -$0.35 | +$0.40 |
| Q4 2025 | -$0.50 | +$0.23 |
| Q3 2025 | -$0.41 | +$0.29 |
| Q2 2025 | -$0.77 | -$0.34 |
| Q1 2025 | -$0.75 | -$0.31 |
| Q4 2024 | -$0.73 | -$0.23 |
TLS is still losing money, but far less than before: $0.12 per share over the past year, against $0.77 at its worst in mid-2025.
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's revenue has grown year over year every quarter since late 2020: $92.3B last quarter, up 19% from the same quarter a year ago.
| 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 TLS on profitability, with a higher operating margin.
TLS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $55.2M | +7.3% |
| Q2 2026 | $47.7M | +33% |
| Q1 2026 | $47.7M | +56% |
| Q4 2025 | $46.8M | +77% |
| Q3 2025 | $51.4M | +116% |
| Q2 2025 | $36M | +26% |
| Q1 2025 | $30.6M | +3.4% |
| Q4 2024 | $26.4M | -36% |
TLS's revenue is recovering but still below its 2021 peak: $55M last quarter, up 7.3% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 7.4% | +12 points |
| Q2 2026 | 0.7% | +28 points |
| Q1 2026 | 3% | +33 points |
| Q4 2025 | -40% | -1.9 points |
| Q3 2025 | -4.8% | +117 points |
| Q2 2025 | -27% | +2.8 points |
| Q1 2025 | -29% | -1 points |
| Q4 2024 | -38% | -18 points |
TLS's operating margin was 7.4% last quarter, up 12 points from the same quarter a year ago.
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's free cash flow has been positive every quarter for seven years: $60B over the past year, down 23% from the year before.
TLS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $9.4M | +7.6% |
| Q2 2026 | $8.6M | +26% |
| Q1 2026 | $8.5M | +42% |
| Q4 2025 | $8M | +$20.3M |
| Q3 2025 | $8.7M | +$15.8M |
| Q2 2025 | $6.8M | +$15M |
| Q1 2025 | $6M | +$6.4M |
| Q4 2024 | -$12.4M | -383% |
TLS has the edge over MSFT on cash flow, with more consistent year-over-year improvement.
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 the edge over TLS on shareholder dilution, with a more favorable share count trend.
| 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.
TLS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.4% | -1.1M shares |
| 1 year | +5.4% | +3.9M shares |
| 3 years | +10% | +6.9M shares |
| 5 years | +15% | +9.7M shares |
| Available history | +56% | +27.4M shares |
TLS has 76M diluted shares, up 5.4% from a year ago, despite $19M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $5.7M |
| Q2 2026 | $4.7M |
| Q1 2026 | $2.2M |
| Q4 2025 | $6M |
| Q3 2025 | $3.6M |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
TLS spent $19M buying back its own shares over the past year.
MSFT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.1x | Very low |
| Q2 2026 | 0.1x | Very low |
MSFT's net debt is less than a year of its operating earnings (EBITDA).
TLS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -50.6x | Net Cash |
| Q4 2020 | -18.7x | Net Cash |
| Q3 2020 | 10.3x | High |
| Q2 2020 | 10.0x | High |
| Q1 2020 | 13.8x | High |
| Q4 2019 | 16.8x | High |
TLS has the edge over MSFT on leverage, with a lower net debt burden relative to earnings.
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).
TLS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 71.2 | Overbought |
| Stochastic | 72.5 | Neutral |
TLS's weekly RSI is 71 (overbought) and its Stochastic is 73 (neutral).
MSFT PE vs Technology Sector
| Metric | MSFT | Sector median | Relative |
|---|---|---|---|
| PE | 27x | 28x | 2% below |
| PE % | 16 | 35 | 19 pts below |
MSFT is trading at 27x earnings, in line with the Technology sector's median of 28x.
TLS PE vs Technology Sector
TLS has no meaningful PE right now: it lost money over the past year.
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's trend is up, with a small recent dip: it's below only its 8-week average, and 27% above its 200-week average.
TLS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $4.96 | 56% above |
| 20 week MA | $4.73 | 63% above |
| 50 week MA | $4.70 | 64% above |
| 100 week MA | $4.35 | 77% above |
| 200 week MA | $3.85 | 101% above |
TLS has the edge over MSFT on trend strength, trading above more of its moving averages.
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 finished higher in five of the last six years, two of them by more than 50%. It's up 7.2% so far in 2026.
TLS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $19.1 | $30.2 | +58% |
| 2021 | $30.2 | $16.2 | -46% |
| 2022 | $16.2 | $4.87 | -70% |
| 2023 | $4.87 | $3.65 | -25% |
| 2024 | $3.65 | $3.40 | -6.8% |
| 2025 | $3.40 | $5.18 | +52% |
| 2026 YTD | $5.18 | $7.72 | +49% |
TLS has the edge over MSFT on returns for 2026, with the stronger performance.