Microsoft (MSFT) Stock Split History: 9 Splits Explained

Last Updated: June 2025

The microsoft stock split history spans 9 events, all between 1987 and 2003, since Microsoft (NASDAQ: MSFT) completed its initial public offering (IPO) on March 13, 1986. The most recent split occurred on February 18, 2003, at a 2-for-1 ratio. This guide covers every split date and ratio, pre-split prices, the cumulative split factor, the reasons Microsoft has not split in over 20 years, and a data-backed look at whether another split is likely. For the live microsoft stock price today msft, visit Bybit TradFi.

Key Facts:

• The microsoft stock split history spans 9 splits, all between 1987 and 2003
• The last split was February 18, 2003 (2-for-1, pre-split price ~$48)
• The cumulative split factor is 288 (verify against [Yahoo Finance MSFT historical data](https://finance.yahoo.com/quote/MSFT/history/) before publication)
• The microsoft stock price today per share is approximately $440 as of June 2025 — check the live figure at Bybit TradFi
• Fractional share investing has reduced the historical rationale for splitting

Complete Microsoft Stock Split History Table

The complete microsoft stock split history below covers all 9 splits since the March 1986 IPO.

| Split # | Date | Split Ratio | Pre-Split Price (Approx., Unadjusted) | Post-Split Price (Approx., Unadjusted) | |---|---|---|---|---| | 1 | September 18, 1987 | 2-for-1 | ~$114 | ~$57 | | 2 | April 12, 1990 | 2-for-1 | ~$120 | ~$60 | | 3 | June 27, 1991 | 3-for-2 | ~$100 | ~$67 | | 4 | June 15, 1992 | 3-for-2 | ~$100 | ~$67 | | 5 | May 23, 1994 | 2-for-1 | ~$98 | ~$49 | | 6 | December 9, 1996 | 2-for-1 | ~$160 | ~$80 | | 7 | February 23, 1998 | 2-for-1 | ~$150 | ~$75 | | 8 | March 29, 1999 | 2-for-1 | ~$178 | ~$89 | | 9 | February 18, 2003 | 2-for-1 | ~$48 | ~$24 |

Source: Yahoo Finance MSFT historical data. Pre-split prices are approximate unadjusted values. Verify all figures before publication. For the current microsoft stock price today per share, see Bybit TradFi.

Of the 9 splits in the microsoft stock split history, 7 were 2-for-1 ratios and 2 were 3-for-2 ratios (June 1991 and June 1992). Before its 9 splits, MSFT's share price ranged from approximately $48 (2003 split) to $178 (1999 split) at each split announcement.

What Is a Microsoft Stock Split?

A stock split is a corporate action where a company divides its existing shares into multiple new shares, reducing the per-share price proportionally without changing the company's total value. In Microsoft's case, all 9 splits in the microsoft stock split history were forward splits: the share count increased while the price per share fell by the same proportion.

The most common split ratio in MSFT's history was 2-for-1, meaning every shareholder received two shares for every one held while the price per share was halved. In Microsoft's December 1996 split, a shareholder holding 100 MSFT shares at approximately $160 each woke up the next day with 200 shares at approximately $80 each. The total value of the position was unchanged.

Microsoft also executed two 3-for-2 splits, in June 1991 and June 1992. In a 3-for-2 split, every 2 shares becomes 3 shares. A holder of 200 shares at $100 each before Microsoft's June 1991 split held 300 shares at approximately $66.67 each the next day.

Market capitalization (share price multiplied by shares outstanding) is unchanged by a stock split. A split does not make MSFT more valuable. When a 2-for-1 split occurs, the price halves while the share count doubles, so market cap equals (price divided by 2) multiplied by (shares multiplied by 2), leaving the total unchanged. A split is a structural change to share count, not a value-creation event. The

microsoft stock price today per share reflects post-split pricing throughout the modern era; the historical split-adjusted prices in financial data platforms are retroactively divided by the cumulative factor to enable comparison.

Companies historically split their stock to lower the per-share price, making shares accessible to a wider pool of investors and improving trading volume. Microsoft's 1990s splits followed this logic: each split brought the price from the $100-to-$178 range down to the $50-to-$90 range, keeping it within reach of retail investors at a time when fractional shares did not exist. Unlike a reverse stock split, where shares are consolidated to raise the per-share price and which typically signals financial distress, the complete microsoft stock split history consists entirely of forward splits driven by sustained price appreciation.

Microsoft Stock Split History: Era-by-Era Analysis

MSFT conducted all 9 of its stock splits between 1987 and 2003, with the frequency of splits reflecting three distinct eras of the company's growth.

The Early Growth Era (1987–1994): Splits #1–#5

Microsoft's first 5 splits came in rapid succession between 1987 and 1994, a period when the stock price repeatedly outpaced what most retail investors could afford for a single share.

MSFT went public at approximately $21 per share (unadjusted) on March 13, 1986. Just 18 months later, the stock had appreciated enough to trigger split #1. Bill Gates, who co-founded Microsoft and served as CEO from the company's founding until January 2000, presided over splits #1 through #8. These first five splits reflect the commercial explosion of MS-DOS and early Windows.

Two of the five splits in this era broke the standard 2-for-1 pattern: splits #3 and #4 in 1991 and 1992 used a 3-for-2 ratio, as shown in the table above. The cluster of three splits in three years (1991–1994) reflects how aggressively the share price was appreciating. Each split restored the stock price to a level accessible to individual investors, supporting stock liquidity and the shareholder value goals management cited at the time.

The Peak Era (1996–1999): Splits #6–#8

Between December 1996 and March 1999, Microsoft split its stock 3 times in under 28 months, the fastest split cadence in the microsoft stock split history.

Splits #6 through #8 coincided with Microsoft's dominance of the PC software market through Windows 95, Windows 98, and the rollout of Internet Explorer during the browser wars. Split #6 on December 9, 1996 occurred at a pre-split price of approximately $160. Split #7 followed on February 23, 1998 (pre-split price approximately $150), and split #8 arrived on March 29, 1999 at approximately $178 per share.

The March 1999 split represents the highest pre-split price in the complete microsoft stock split history. This was the height of the dot-com bubble, when technology valuations reached unsustainable levels across the market. Gates remained CEO through this period, stepping down in January 2000, and the post-1999 market collapse would shape the context for the company's final split.

The Final Split (2003): Split #9

The 9th and final entry in the microsoft stock split history occurred on February 18, 2003, under CEO Steve Ballmer, who had taken the helm after Bill Gates stepped down in January 2000.

Following the dot-com bubble's collapse, MSFT's share price had fallen approximately 60% from its 1999–2000 peak before recovering to the approximately $48 pre-split level that triggered this final action. This split marks both the end of Microsoft's frequent-split era and the beginning of what has now become a 20-plus-year hiatus. The microsoft stock price today per share — above $400 as of June 2025, far exceeding the ~$48 pre-split level of this final event — underscores how the post-split era compares to the split-heavy growth years.

Microsoft's Cumulative Split Factor and What Your IPO Shares Would Be Worth Today

The microsoft stock split history produces a cumulative split factor of 288 since the 1986 IPO, calculated by multiplying all 9 split ratios together: 2 x 2 x 1.5 x 1.5 x 2 x 2 x 2 x 2 x 2 = 288. Verify this calculation against Yahoo Finance MSFT historical data or Microsoft Investor Relations before publication.

The cumulative split factor is the total multiplicative effect of all 9 splits. If you purchased 1 share of MSFT at its IPO in March 1986 and held through all 9 splits without selling, you would hold 288 shares today through splits alone, before any additional purchases or sales. For a larger position: 100 shares purchased before September 1987, held continuously through all 9 splits, would produce 28,800 shares today.

To calculate your position from any purchase date, multiply your original share count by the cumulative multiplier from that date forward. The table below shows entry-point multipliers.

All multiplier figures require independent verification. This table is illustrative only.

What $1,000 invested at the IPO would be worth today: $1,000 at approximately $21 per share purchases approximately 47.6 shares. Those 47.6 shares multiplied by the cumulative factor of 288 produces approximately 13,709 shares through splits alone. At the current

microsoft stock price today per share of approximately $440 (check the live microsoft stock price today msft at Bybit TradFi before publication), that position would be worth approximately $6.03 million. This calculation is illustrative only. It excludes dividend reinvestment, transaction costs, and taxes, and assumes continuous holding from IPO to the present without any additional transactions.

MSFT's historical price appearing as a fraction of a cent on Yahoo Finance or Google Finance for the late 1980s is not an error. Financial data platforms display historical prices on a split-adjusted basis by default, retroactively dividing all past prices by the cumulative split factor so that prices are comparable across all time periods. The IPO price of approximately $21 in 1986, divided by 288, equals approximately $0.073 on a split-adjusted basis.

Why Hasn't Microsoft Split Its Stock Since 2003?

The microsoft stock price today per share has exceeded $400, well above the $48-to-$178 range at which MSFT executed all 9 historical splits, yet the company has not split its stock in over 20 years. Four structural factors explain this.

The first factor is the fractional share revolution. Fractional shares allow investors to purchase any dollar amount of a stock — say $50 worth of MSFT — regardless of the current per-share price. In the 1990s, when MSFT split repeatedly to keep its price below $90, retail investors could only buy whole shares. The microsoft stock price today per share of $440+ would have been genuinely inaccessible to many individual investors in that era. Today, platforms like Fidelity, Charles Schwab, and Robinhood allow investors to purchase any dollar amount of MSFT regardless of share price. The primary historical rationale for splitting has largely disappeared.

The second factor is the shift in leadership approach. Under CEO Satya Nadella, who took the helm on February 4, 2014, Microsoft's share price rose from approximately $35 to over $400 without a single stock split. That represents more than a 10x increase with no split action. During the Bill Gates era from 1987 to 2000, Microsoft split its stock roughly every one to three years whenever the price exceeded the $100-to-$180 range. The Nadella era has produced a different relationship with share price management.

The third factor is that peer companies split at far higher prices while Microsoft held back. Amazon (AMZN) conducted a 20-for-1 split on June 6, 2022, at a pre-split price of approximately $2,447. Alphabet (GOOGL) conducted a 20-for-1 split on July 18, 2022, at approximately $2,252 per share. Both companies split at prices far above the microsoft stock price today per share, yet Microsoft did not follow. This pattern suggests the company's decision not to split is deliberate rather than a function of share price not yet reaching a threshold.

The fourth factor is institutional investor preference. Institutional investors, who now represent the majority of MSFT's ownership base, face no accessibility barriers from high share prices. Many actually prefer high per-share prices as a signal of sustained appreciation. As institutional ownership has grown, the corporate incentive to split for retail accessibility has diminished.

Will Microsoft Split Its Stock Again?

As of June 2025, Microsoft has not announced a future stock split. The microsoft stock price today msft of approximately $440+ — trackable live at Bybit TradFi — is well above the $48-to-$178 range at which all 9 historical splits were triggered, yet no management signal has been made.

The case for a future split:

• The microsoft stock price today per share exceeds the $48-to-$178 range at which all 9 entries in the microsoft stock split history occurred
• Peer companies Apple (pre-split price approximately $499 in 2020), Amazon (approximately $2,447 pre-split in 2022), and Alphabet (approximately $2,252 pre-split in 2022) have all split in recent years at prices well above current MSFT levels
• A split could broaden the retail investor base and signal management confidence in continued appreciation

The case against a near-term split:

• Fractional share investing has eliminated the accessibility barrier that historically drove split decisions
• The microsoft stock split history shows a 20-plus-year gap since the last event, despite multiple cycles of high share prices
• Institutional investors who dominate MSFT's ownership base have no preference for lower per-share prices
• No management signal of any kind has been publicly made

Whether Microsoft adds a 10th entry to its microsoft stock split history depends on a management decision that has not been publicly signaled. Investors should not make buy or sell decisions based on split speculation. A split does not change Microsoft's fundamental value or market capitalization.

This article is for informational purposes only and does not constitute investment advice. Past stock performance does not guarantee future results.

How Microsoft Compares: Stock Split History vs. Apple, Alphabet, and Amazon

MSFT has the most stock splits of any major tech company in the comparison below — 9 total — yet it is also the only one among these peers that has not split its stock in over two decades.

| Company | Ticker | Total Splits | Last Split Date | Last Split Ratio | Last Pre-Split Price (Approx.) | |---|---|---|---|---|---| | Microsoft | MSFT | 9 | February 18, 2003 | 2-for-1 | ~$48 | | Apple | AAPL | 5 | August 31, 2020 | 4-for-1 | ~$499 | | Alphabet | GOOGL | 2 (since Alphabet formation) | July 18, 2022 | 20-for-1 | ~$2,252 | | Amazon | AMZN | 4 total | June 6, 2022 | 20-for-1 | ~$2,447 |

Source: Yahoo Finance historical data. Verify all figures before publication. For the live microsoft stock price today msft, visit Bybit TradFi.

The comparison reveals a counterintuitive pattern. Microsoft, with the most extensive

microsoft stock split history, is the only company in this group not to have split since the early 2000s. Apple's 4-for-1 split in August 2020 at approximately $499 demonstrates that major technology companies will split at high nominal prices — close to the current

microsoft stock price today per share — when management chooses to act. Amazon and Alphabet each executed 20-for-1 splits in 2022 at prices exceeding $2,200 per share, ratios far more aggressive than any in the microsoft stock split history. MSFT's inaction is therefore a deliberate choice, not a function of share price being too low.

For context on how another high-growth tech company has managed its split history, the [Tesla stock split history guide](https://www.bybit.com/en/wiki/article/tesla-stock-split-history-t sla-a-beginners-guide/) covers TSLA's approach to share price management through splits.

How Microsoft Stock Splits Affect Your Cost Basis

When MSFT splits its stock, your cost basis per share is adjusted proportionally. Your total cost basis remains unchanged.

Your cost basis is the original price you paid for a stock, used to calculate capital gains or losses when you sell. A stock split does not create a taxable event. Instead, it redistributes your existing cost basis across a larger number of shares.

Worked example across two MSFT splits:

Step 1: Start with a purchase of 100 shares of MSFT in early 1996 at $90 per share, for a total investment of $9,000. Your cost basis per share is $90.

Step 2: After the 2-for-1 split on December 9, 1996, your position becomes 200 shares at an adjusted cost basis of $45 per share. Total cost basis: $9,000.

Step 3: After the 2-for-1 split on February 23, 1998, your position becomes 400 shares at an adjusted cost basis of $22.50 per share. Total cost basis: $9,000.

General formula: For each 2-for-1 split after your purchase date, divide your cost basis per share by 2 and double your share count. For each 3-for-2 split, divide your cost basis per share by 1.5 and multiply your share count by 1.5.

For long-term shareholders who acquired MSFT across multiple purchase dates, calculating the full adjusted cost basis requires applying each subsequent split ratio to each original purchase price individually. Earnings per share (EPS) figures in historical financial databases are retroactively adjusted to reflect all subsequent splits, ensuring comparability across reporting periods, just as historical share prices are split-adjusted.

(Shareholders enrolled in Microsoft's dividend reinvestment plan should also account for shares acquired through dividend reinvestment when calculating their full cost basis.)

Individual tax situations vary. Consult a qualified tax professional or financial advisor for personalized cost basis and tax guidance. The IRS provides guidance on stock split cost basis adjustments in IRS Publication 550.

For readers researching pre-split prices across tech stocks, the [Tesla stock price history before its splits](https://www.bybit.com/en/wiki/article/tesla-highest-stock-price-before-spl it-how-to-get-the-exact-numbers-for-tsla-beginner-guide/) provides a useful parallel reference.

Frequently Asked Questions About Microsoft Stock Splits

The questions below address the most common searches about the microsoft stock split history, current pricing, and forward-looking outlook.

How many times has Microsoft stock split?

Microsoft has split its stock 9 times since its IPO on March 13, 1986. The complete

microsoft stock split history consists entirely of forward splits: 7 at a 2-for-1 ratio and 2 at a 3-for-2 ratio (June 1991 and June 1992). The most recent split occurred on February 18, 2003, at a 2-for-1 ratio. MSFT has not announced a stock split since then.

When was the last time Microsoft split its stock?

MSFT last split its stock on February 18, 2003, at a 2-for-1 ratio. The pre-split price was approximately $48 per share. As of June 2025, the

microsoft stock price today per share stands above $400 — live data available at Bybit TradFi — and Microsoft has gone more than 20 years without conducting another split.

What is the split history of MSFT?

The complete microsoft stock split history covers 9 splits: September 18, 1987 (2-for-1); April 12, 1990 (2-for-1); June 27, 1991 (3-for-2); June 15, 1992 (3-for-2); May 23, 1994 (2-for-1); December 9, 1996 (2-for-1); February 23, 1998 (2-for-1); March 29, 1999 (2-for-1); February 18, 2003 (2-for-1). The complete split history table earlier in this article includes pre-split prices and additional detail.

What is the Microsoft stock price today per share?

The microsoft stock price today per share is approximately $440 as of June 2025. For the live microsoft stock price today msft, visit Bybit TradFi. This current price level is significantly above the $48-to-$178 range at which all 9 entries in the microsoft stock split history were triggered, yet no new split has been announced.

Will Microsoft do a stock split in 2024 or 2025?

As of June 2025, Microsoft has not announced a stock split for 2024 or 2025. While the

microsoft stock price today msft exceeds $400 — above the $48-to-$178 range at which MSFT historically split — the company has not split in over 20 years. The rise of fractional share investing has reduced the need for splits to improve retail accessibility. No official announcement has been made.

What was Microsoft's stock price before all the splits?

MSFT's share price before each of its 9 splits ranged from approximately $48 (2003 split) to $178 (1999 split). The full data table above shows the approximate pre-split price at each of the 9 split dates. All prices are unadjusted, not split-adjusted values. The microsoft stock price today per share of $440+ exceeds every pre-split price in the company's history.

How does a stock split affect the share price?

In a stock split, the share price is reduced proportionally to the split ratio. In a 2-for-1 split, the price is halved; in a 3-for-2 split, it falls by one-third. After MSFT's 2-for-1 split in December 1996, a share priced at approximately $160 became approximately $80 overnight, while each shareholder held twice as many shares. The company's total market capitalization remains unchanged.

Does a stock split increase the value of a stock?

No. A stock split does not increase a company's total value or market capitalization. When a 2-for-1 split occurs, the number of shares doubles while the price per share is halved. The total market cap (price multiplied by shares outstanding) remains exactly the same. A split is a structural change to share count, not a value-creation event. The microsoft stock price today per share after any hypothetical future split would be lower, but the total position value would be unchanged.

What is the cumulative split factor for Microsoft?

The microsoft stock split history produces a cumulative split factor of 288 since the 1986 IPO, calculated by multiplying all 9 split ratios: 2 x 2 x 1.5 x 1.5 x 2 x 2 x 2 x 2 x 2 = 288. One original MSFT share from the IPO would have become 288 shares through splits alone, before accounting for any market price changes. Verify this figure against Yahoo Finance or Microsoft Investor Relations before publication.

How does Microsoft compare to Apple in stock split history?

The microsoft stock split history covers 9 splits (last split: February 2003), while Apple (AAPL) has split 5 times (last split: August 31, 2020, 4-for-1, at a pre-split price of approximately $499 — close to the current microsoft stock price today per share). Apple split more recently and at a higher pre-split price than any of MSFT's historical splits. Despite comparable share prices today, Microsoft has not announced a new split. The comparison table earlier in this article has full details on all four major tech companies.

What would $1,000 invested in Microsoft at IPO be worth today?

$1,000 at MSFT's IPO price of approximately $21 per share purchases approximately 47.6 shares. Those 47.6 shares, multiplied by the cumulative split factor of 288, produce approximately 13,709 shares through splits alone. At the current microsoft stock price today per share of approximately $440 (verify the live

microsoft stock price today msft at Bybit TradFi before publication), that position would be worth approximately $6.03 million. This calculation is illustrative only. It excludes dividend reinvestment, transaction costs, and taxes, and assumes continuous holding from IPO to the present without any additional transactions.

*For real-time MSFT stock data, including the live

microsoft stock price today msft, visit Bybit TradFi, Yahoo Finance MSFT historical data, or Microsoft Investor Relations.*