Microsoft equity valuation

Abstract

This equity report, titled ‘Microsoft Equity Research’, delves into a thorough examination of Microsoft Corporation, the second largest organisation in the world ranked by market capitalisation. This analysis is composed of an introduction to the Information Technology sector, the Software industry, and of the firm; a literature review; an analysis of the company’s competitors; the assumptions that I, Vincent Spinetta, the author of the research, made; a comparison to renown investment banking reports; and lastly a conclusion. This report employs a robust methodology, including a detailed financial model utilising discounted cash flow (DCF) to establish an intrinsic value per share as well as scenario analysis gauging the impact of key assumptions on the valuation. The key findings contained in this analysis go against mainstream thought, giving it a feeling of objectivity and independence. It is important to stress that those opinions are my own, and can still be subject to biases like any research ever conducted. The analysis and opinions presented in this report are subject to change, and no one should invest based on the findings found in this analysis alone. Rather, investment decisions should be made after careful consideration of multiple sources, especially conflicting ones.

Date of Award	9 May 2024
Original language	English
Awarding Institution	Universidade Católica Portuguesa
Supervisor	José Carlos Tudela Martins (Supervisor)