13F +11% · EISLER Institutional Filing Alert

Eisler Capital (Edward Eisler · Multi-Strategy) added to MSFT (+11% shares QoQ · 16.5% of 13F portfolio)

Form 13F-HR institutional holdings disclosure · Filed 2026-10-16

Eisler Holdings › All Filing Alerts › SEC Filing ↗

MSFT

Microsoft Corporation

$531.33

−$1.27 (0.24%)Oct 27 close

Information TechnologyS&P 500 Compare Technicals

Model valuationLooks expensiveDCF base $285

1M 3M 6M 1Y 2Y

MSFTSPY

Wall St. Highest PT $870.00 (+63.7%) Wall St. Avg PT $599.28 (+12.8%)

Underwater Drawdown %Max DD -34.5%Current -2.2%

Relative Strength vs SPY-12.7% vs SPYUnderperforming

−$0.54 (0.10%)

+$15.16 (2.94%)

+$138.72 (35.33%)

+$103.81 (24.28%)

YTD

+$50.76 (10.56%)

+$4.15 (0.79%)

Chart

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Ratings & dials

1m · 5m · 15m · 1h · 4h · 1D

Analyst & Morningstar ratings

Consensus · Targets · Morningstar

Wall Street analyst consensus

Strong Buy

53 analysts · mean score 1.34

1 = Strong Buy · 5 = Sell

Wall Street consensus

Analyst price targets

Current price$531.33

Average target$599.28

+$67.95 (+12.8%) upsideaverage target vs current price

CurrentAverageMedian

Low$440.00

Median$599.28

High$870.00

12-month Wall Street target range

Third-party ratings, not SURVYR.'s views.

Health check

Financial health

Safe zone

Altman Z-score 9.3

Above 2.99 is the safe zone, below 1.81 the distress zone.

Quality

Average

Piotroski F-score 6 of 9

See the tests

✓Positive net income
✓Positive operating cash flow
✓Return on assets improved
✓Cash flow above net income
✓Long-term debt / assets fell
✗Current ratio improved
✓No share dilution
✗Gross margin improved
✗Asset turnover improved

Computed by SURVYR. from the company's SEC filings (latest balance sheet Jun 30, 2026). Descriptive, not a forecast.

Key stats & company

Market value$3.9T

P/E (last 12 months)29.6

P/E (next 12 months, estimated)22.4

52-week range$349.20 – $553.72

Revenue growth (latest quarter vs a year ago)+17.7%

Dividend yield0.73%

Analyst consensusStrong Buy (53)

Average analyst price target$599.28 (+13%)

What they do

Microsoft Corporation, a technology company, develops and supports a portfolio of technology solutions for individuals and businesses worldwide. Its products include operating systems, server applications, business solution applications, software development tools, desktop and server management tools. The company's Productivity and Business Processes segment offers Microsoft 365 Commercial, Enterprise Mobility + Security, Power BI, Exchange.

Technology · Software - Infrastructure

Valuation and fundamentals

Valuation & fundamentals

Bottom line

Looks expensive

Model read-out from the numbers below, not advice. Score -3 (DCF counts double).

▼DCF (base case)below the price by 46%

▼Forward P/E vs sector22.4x vs median 17.3x

•Piotroski F-score6/9

▲Altman Z9.3 (safe)

▲Net debt / EBITDA-0.2x

•Analyst target+13% (53 analysts)

Discounted cash flow

Bear

$167

-68%

growth 10% · disc. 10.7% · term. 2.0%

Base

$285

-46%

growth 17% · disc. 9.7% · term. 2.5%

Bull

$449

-15%

growth 21% · disc. 8.7% · term. 3.0%

A DCF starts from trailing free cash flow, so it can overstate value if the last 12 months were unusually strong (or weak). Use the bear case or edit the starting cash flow if so.

Reverse DCFfor context, not a signal

Today's price assumes free cash flow grows about 22% a year for 10 years.

Implied

+22%/yr

FCF, last 3 yrs

+4%/yr

FCF, last 5 yrs

+4%/yr

Revenue, last 3 yrs

+16%/yr

Revenue, last 5 yrs

+15%/yr

Same inputs as the DCF above: trailing free cash flow 67.0B, 9.7% discount rate, 2.5% growth after year 10, net cash and today's share count. Actual growth rates are compound annual rates from SEC annual filings through FY2026; "n/a" means too little history or a negative starting year.

Edit assumptions · recalculates instantly

Your value per share–

Free cash flow = operating cash flow − capital spending, trailing 12 months (FY to 2026-06-30). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 1.10 × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.

Multiples vs Information Technology

P/E (trailing)

sector median 35.4× · 40th pct

29.6×
cheaper

Forward P/E

sector median 17.3× · 68th pct

22.4×
pricier

EV / EBITDA

sector median 20.3× · 58th pct

25.2×
pricier

Price / sales

sector median 4.8× · 82nd pct

11.9×
pricier

Price / book

sector median 5.2× · 72nd pct

8.9×
pricier

FCF yield

sector median 3.6% · 24th pct

1.7%
pricier

Forward EPS $23.70 vs trailing $17.95 (+32% expected growth). Forward P/E uses analysts' next-12-month estimate.

Backlog (remaining performance obligations)

RPO

$684.0B

as of 2026-06-30

vs a year ago

+82%

YoY

× TTM revenue

2.06×

coverage

24-09

24-12

25-03

25-06

25-09

25-12

26-03

26-06

Contracted revenue not yet recognized, from SEC filings (XBRL tag RevenueRemainingPerformanceObligation).

Quality & financial health

Gross margin

67.9%

Operating margin

46.8%

FCF margin

20.2%

Net margin

40.3%

Return on equity

30.2%

Return on invested capital

30.8%

Net debt / EBITDA

-0.2×

Current ratio

1.2×

Interest cover

50.9×

Cash conversion (OCF/NI)

1.4×

Piotroski F-score 6/9 · last two fiscal years

✓ Positive net income✓ Positive operating cash flow✓ Return on assets improved✓ Cash flow above net income✓ Long-term debt / assets fell✗ Current ratio improved✓ No share dilution✗ Gross margin improved✗ Asset turnover improved

Altman Z-score 9.3 (safe zone; above 3.0 = safe, below 1.8 = distress). Not meaningful for banks and insurers.

Analysts

Mean target

$599

+13%

Analysts

Strong Buy

Range

$440–$870

low – high

● price · ◆ mean target

Annual history

FY	Revenue	Net income	Free cash flow
2026	$331.8B	$133.7B	$67.0B
2025	$281.7B	$101.8B	$71.6B
2024	$245.1B	$88.1B	$74.1B
2023	$211.9B	$72.4B	$59.5B
2022	$198.3B	$72.7B	$65.1B
2021	$168.1B	$61.3B	$56.1B

From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR +16.1%.

For information only · Important disclosures

Grades vs sector

Momentum

38th percentile in sector

C-

12-1 return: -0.1%
Percentile within its GICS sector across the S&P 1500.

Growth

55th percentile in sector

C+

Revenue growth (YoY): +17.7%
Percentile within its GICS sector across the S&P 1500.

Value

44th percentile in sector

Forward E/P: 4.5% · EBITDA/EV: 4.9%
Percentile within its GICS sector across the S&P 1500.

Profitability

88th percentile in sector

A-

Profit margin: +40.3% · Return on equity: +34.0%
Percentile within its GICS sector across the S&P 1500.

Revisions

Not enough data yet

–

EPS estimate change, 30 days (current FY): –
30-day change in analysts' current-year EPS estimate; graded across covered stocks.

Systematic Models

Not held by any of our 7 live models right now.

Quality Growth

ranked 68 of 360 · Composite (0-1) 0.7

Momentum Top 15

ranked 347 of 499 · 12-month momentum -1.2%

Momentum Blend

Not in the current book

New Highs Growth

ranked 74 of 589 · 12-month momentum -0.6%

SURVYR. Barbell Momentum & T-Bill Shield

Outside this model's universe or screens

SURVYR. Physical AI Grid & Power

Outside this model's universe or screens

SURVYR. Long Book

Not in the current book

Earnings & events

MSFT earningsReports today

Next report · quarter Sep 2026

Wed Oct 28, 2026After the close

EPS consensus$4.72

Revenue consensus–

Last 4 quarters · EPS vs estimate

Jul 29, 2026$4.74est $4.24+11.8%Above estimates

Apr 29, 2026$4.27est $4.07+4.8%Above estimates

Jan 28, 2026$4.14est $3.92+5.7%Above estimates

Oct 29, 2025$4.13est $3.66+12.7%Above estimates

In line = within 1% of the estimate.

EstimateActual (beat)Actual (miss)

News & catalysts

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Insider trades

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EVP, Chief Financial Officer · 2026-10-13

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Sell
$1.6M

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Hood Amy