Financials
Income statement, balance sheet and cash flow, built from SEC EDGAR filings.
Apple Inc.
AAPL
· CIK 0000320193
Figures in millions of USD unless the line is a per-share amount or a share count.
| Line item | TTM 2026-06-30 | FY 2025 2025-09-30 | FY 2024 2024-09-30 | FY 2023 2023-09-30 | FY 2022 2022-09-30 | FY 2021 2021-09-30 | FY 2020 2020-09-30 | FY 2019 2019-09-30 | FY 2018 2018-09-30 |
|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||
| Revenue | 466,823 | 416,161 | 391,035 | 383,285 | 394,328 | 365,817 | 274,515 | 260,174 | 265,595 |
| Gross Profit | 227,123 | 195,201 | 180,683 | 169,148 | 170,782 | 152,836 | 104,956 | 98,392 | 101,839 |
| Operating Income | 154,859 | 133,050 | 123,216 | 114,301 | 119,437 | 108,949 | 66,288 | 63,930 | 70,898 |
| Pre-Tax Income | 155,906 | 132,729 | 123,485 | 113,736 | 119,103 | 109,207 | 67,091 | 65,737 | 72,903 |
| Net Income | 128,930 | 112,010 | 93,736 | 96,995 | 99,803 | 94,680 | 57,411 | 55,256 | 59,531 |
| EPS (Diluted) | 8.72 | 7.46 | 6.08 | 6.13 | 6.11 | 5.61 | 3.28 | 2.97 | 2.98 |
| Balance Sheet | |||||||||
| Total Assets | 383,266 | 359,241 | 364,980 | 352,583 | 352,755 | 351,002 | 323,888 | 338,516 | 365,725 |
| Total Liabilities | 275,746 | 285,508 | 308,030 | 290,437 | 302,083 | 287,912 | 258,549 | 248,028 | 258,578 |
| Shareholders' Equity | 107,520 | 73,733 | 56,950 | 62,146 | 50,672 | 63,090 | 65,339 | 90,488 | 107,147 |
| Cash & Equivalents | 39,544 | 35,934 | 29,943 | 29,965 | 23,646 | 34,940 | 38,016 | 48,844 | 25,913 |
| Cash Flow | |||||||||
| Operating Cash Flow | 146,724 | 111,482 | 118,254 | 110,543 | 122,151 | 104,038 | 80,674 | 69,391 | 77,434 |
| Capital Expenditures | -10,041 | -12,715 | -9,447 | -10,959 | -10,708 | -11,085 | -7,309 | -10,495 | -13,313 |
| Free Cash Flow | 136,683 | 98,767 | 108,807 | 99,584 | 111,443 | 92,953 | 73,365 | 58,896 | 64,121 |
| Ratios | |||||||||
| Gross Margin | 48.65% | 46.91% | 46.21% | 44.13% | 43.31% | 41.78% | 38.23% | 37.82% | 38.34% |
| Operating Margin | 33.17% | 31.97% | 31.51% | 29.82% | 30.29% | 29.78% | 24.15% | 24.57% | 26.69% |
| Profit Margin | 27.62% | 26.92% | 23.97% | 25.31% | 25.31% | 25.88% | 20.91% | 21.24% | 22.41% |
| Free Cash Flow Margin | 29.28% | 23.73% | 27.83% | 25.98% | 28.26% | 25.41% | 26.73% | 22.64% | 24.14% |
| Line item | TTM 2026-06-30 | FY 2025 2025-09-30 | FY 2024 2024-09-30 | FY 2023 2023-09-30 | FY 2022 2022-09-30 | FY 2021 2021-09-30 | FY 2020 2020-09-30 | FY 2019 2019-09-30 | FY 2018 2018-09-30 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||
| Total Revenue | 466,823 | 416,161 | 391,035 | 383,285 | 394,328 | 365,817 | 274,515 | 260,174 | 265,595 |
| Cost of Revenue | |||||||||
| Cost of Revenue | 239,700 | 220,960 | 210,352 | 214,137 | 223,546 | 212,981 | 169,559 | 161,782 | 163,756 |
| Gross Profit | |||||||||
| Gross Profit | 227,123 | 195,201 | 180,683 | 169,148 | 170,782 | 152,836 | 104,956 | 98,392 | 101,839 |
| Operating Expenses | |||||||||
| R&D Expense | 42,901 | 34,550 | 31,370 | 29,915 | 26,251 | 21,914 | 18,752 | 16,217 | 14,236 |
| SG&A Expense | 29,363 | 27,601 | 26,097 | 24,932 | 25,094 | 21,973 | 19,916 | 18,245 | 16,705 |
| Total Operating Expenses | 72,264 | 62,151 | 57,467 | 54,847 | 51,345 | 43,887 | 38,668 | 34,462 | 30,941 |
| Operating Income | |||||||||
| Operating Income | 154,859 | 133,050 | 123,216 | 114,301 | 119,437 | 108,949 | 66,288 | 63,930 | 70,898 |
| Non-Operating Items | |||||||||
| Non-Operating Income/Expense | 1,047 | -321 | 269 | -565 | -334 | 258 | 803 | 1,807 | 2,005 |
| Pre-Tax Income | |||||||||
| Income Before Tax | 155,906 | 132,729 | 123,485 | 113,736 | 119,103 | 109,207 | 67,091 | 65,737 | 72,903 |
| Tax | |||||||||
| Income Tax Expense | 26,976 | 20,719 | 29,749 | 16,741 | 19,300 | 14,527 | 9,680 | 10,481 | 13,372 |
| Net Income | |||||||||
| Net Income Available to Common | 128,930 | 112,010 | 93,736 | 96,995 | 99,803 | 94,680 | 57,411 | 55,256 | 59,531 |
| EPS | |||||||||
| EPS (Basic) | 8.75 | 7.49 | 6.11 | 6.16 | 6.15 | 5.67 | 3.31 | 2.99 | 3.00 |
| EPS (Diluted) | 8.72 | 7.46 | 6.08 | 6.13 | 6.11 | 5.61 | 3.28 | 2.97 | 2.98 |
| Shares | |||||||||
| Shares Outstanding (Basic) | 58,893 | 14,949 | 15,344 | 15,744 | 16,216 | 16,701 | 17,352 | 18,471 | 19,822 |
| Shares Outstanding (Diluted) | 59,115 | 15,005 | 15,408 | 15,813 | 16,326 | 16,865 | 17,528 | 18,596 | 20,000 |
| Line item | TTM 2026-06-30 | FY 2025 2025-09-30 | FY 2024 2024-09-30 | FY 2023 2023-09-30 | FY 2022 2022-09-30 | FY 2021 2021-09-30 | FY 2020 2020-09-30 | FY 2019 2019-09-30 | FY 2018 2018-09-30 |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total Assets | 383,266 | 359,241 | 364,980 | 352,583 | 352,755 | 351,002 | 323,888 | 338,516 | 365,725 |
| Current Assets | 149,818 | 147,957 | 152,987 | 143,566 | 135,405 | 134,836 | 143,713 | 162,819 | 131,339 |
| Current Assets | |||||||||
| Cash & Cash Equivalents | 39,544 | 35,934 | 29,943 | 29,965 | 23,646 | 34,940 | 38,016 | 48,844 | 25,913 |
| Marketable Securities, Current | 22,855 | 18,763 | 35,228 | 31,590 | 24,658 | 27,699 | 52,927 | 51,713 | 40,388 |
| Accounts Receivable, Net | 31,398 | 39,777 | 33,410 | 29,508 | 28,184 | 26,278 | 16,120 | 22,926 | 23,186 |
| Inventory | 11,092 | 5,718 | 7,286 | 6,331 | 4,946 | 6,580 | 4,061 | 4,106 | 3,956 |
| Other Current Assets | 17,420 | 14,585 | 14,287 | 14,695 | 21,223 | 14,111 | 11,264 | 12,352 | 12,087 |
| Non-Current Assets | |||||||||
| Property, Plant & Equipment, Net | 51,431 | 49,834 | 45,680 | 43,715 | 42,117 | 39,440 | 36,766 | 37,378 | 41,304 |
| Other Non-Current Assets | 77,557 | 72,634 | 74,834 | 64,758 | 54,428 | 48,849 | 42,522 | 32,978 | 22,283 |
| Total Non-Current Assets | 233,448 | 211,284 | 211,993 | 209,017 | 217,350 | 216,166 | 180,175 | 175,697 | 234,386 |
| Liabilities & Equity | |||||||||
| Total Liabilities & Equity | 383,266 | 359,241 | 364,980 | 352,583 | 352,755 | 351,002 | 323,888 | 338,516 | 365,725 |
| Liabilities | |||||||||
| Total Liabilities | 275,746 | 285,508 | 308,030 | 290,437 | 302,083 | 287,912 | 258,549 | 248,028 | 258,578 |
| Current Liabilities | |||||||||
| Current Liabilities | 149,326 | 165,631 | 176,392 | 145,308 | 153,982 | 125,481 | 105,392 | 105,718 | 115,929 |
| Accounts Payable | 64,525 | 69,860 | 68,960 | 62,611 | 64,115 | 54,763 | 42,296 | 46,236 | 55,888 |
| Current Portion of Long-Term Debt | 11,007 | 12,350 | 10,912 | 9,822 | 11,128 | 9,613 | 8,773 | 10,260 | 8,784 |
| Deferred Revenue, Current | 9,538 | 9,055 | 8,249 | 8,061 | 7,912 | 7,612 | 6,643 | 5,522 | 5,966 |
| Other Current Liabilities | 62,259 | 66,387 | 78,304 | 58,829 | 60,845 | 47,493 | 42,684 | 37,720 | 33,327 |
| Non-Current Liabilities | |||||||||
| Long-Term Debt | 71,340 | 78,328 | 85,750 | 95,281 | 98,959 | 109,106 | 98,667 | 91,807 | 93,735 |
| Other Non-Current Liabilities | 55,080 | 41,549 | 45,888 | 49,848 | 49,142 | 53,325 | 54,490 | 50,503 | 48,914 |
| Total Non-Current Liabilities | 126,420 | 119,877 | 131,638 | 145,129 | 148,101 | 162,431 | 153,157 | 142,310 | 142,649 |
| Equity | |||||||||
| Total Stockholders' Equity | 107,520 | 73,733 | 56,950 | 62,146 | 50,672 | 63,090 | 65,339 | 90,488 | 107,147 |
| Common Stock & Additional Paid-In Capital | 100,702 | 93,568 | 83,276 | 73,812 | 64,849 | 57,365 | 50,779 | 45,174 | 40,201 |
| Retained Earnings (Deficit) | 11,326 | -14,264 | -19,154 | -214 | -3,068 | 5,562 | 14,966 | 45,898 | 70,400 |
| Accumulated OCI | -4,508 | -5,571 | -7,172 | -11,452 | -11,109 | 163 | -406 | -584 | -3,454 |
| Other Items | |||||||||
| Common stock, par value | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Common stock, shares authorized | 50,400 | 50,400 | 50,400 | 50,400 | 50,400 | 50,400 | 50,400 | 50,400 | 12,600 |
| Common stock, shares issued | 14,609 | 14,773 | 15,117 | 15,550 | 15,943 | 16,427 | 16,977 | 17,773 | 4,755 |
| Common stock, shares outstanding | 14,609 | 14,773 | 15,117 | 15,550 | 15,943 | 16,427 | 16,977 | 17,773 | 4,755 |
| Nontrade Receivables, Current | 27,509 | 33,180 | 32,833 | 31,477 | 32,748 | 25,228 | 21,325 | 22,878 | 25,809 |
| Marketable Securities, Noncurrent | 84,118 | 77,723 | 91,479 | 100,544 | 120,805 | 127,877 | 100,887 | 105,341 | 170,799 |
| Intangible assets, net | 20,342 | 11,093 | — | — | — | — | — | — | — |
| Commercial Paper | 1,997 | 7,979 | 9,967 | 5,985 | 9,982 | 6,000 | 4,996 | 5,980 | 11,964 |
| Other Short-Term Borrowings | — | — | — | — | — | — | — | 5,980 | — |
| Line item | TTM 2026-06-30 | FY 2025 2025-09-30 | FY 2024 2024-09-30 | FY 2023 2023-09-30 | FY 2022 2022-09-30 | FY 2021 2021-09-30 | FY 2020 2020-09-30 | FY 2019 2019-09-30 | FY 2018 2018-09-30 |
|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||
| Net Income | 128,930 | 112,010 | 93,736 | 96,995 | 99,803 | 94,680 | 57,411 | 55,256 | 59,531 |
| Operating Cash Flow | 146,724 | 111,482 | 118,254 | 110,543 | 122,151 | 104,038 | 80,674 | 69,391 | 77,434 |
| Depreciation & Amortization (CF) | 13,100 | 11,698 | 11,445 | 11,519 | 11,104 | 11,284 | 11,056 | 12,547 | 10,903 |
| Share-Based Compensation | 13,706 | 12,863 | 11,688 | 10,833 | 9,038 | 7,906 | 6,829 | 6,068 | 5,340 |
| Deferred Income Tax | — | — | — | — | 895 | -4,774 | -215 | -340 | -32,590 |
| Change in Accounts Receivable | -4,051 | -6,682 | -3,788 | -1,688 | -1,823 | -10,125 | 6,917 | 245 | -5,322 |
| Change in Inventory | -5,284 | 1,400 | -1,046 | -1,618 | 1,484 | -2,642 | -127 | -289 | 828 |
| Change in Accounts Payable | 14,178 | 902 | 6,020 | -1,889 | 9,448 | 12,326 | -4,062 | -1,923 | 9,175 |
| Change in Other Operating Assets | -19,347 | -9,197 | -11,731 | -5,684 | -6,499 | -8,042 | -9,588 | 873 | -423 |
| Change in Other Operating Liabilities | 14,101 | -11,076 | 15,552 | 3,031 | 6,110 | 7,475 | 8,916 | -4,700 | 38,449 |
| Change in Deferred Revenue | — | — | — | — | 478 | 1,676 | 2,081 | -625 | -3 |
| Other Non-Cash Items | -378 | -89 | -2,266 | -2,227 | 1,006 | -4,921 | -97 | -652 | -444 |
| Investing Activities | |||||||||
| Investing Cash Flow | -21,398 | 15,195 | 2,935 | 3,705 | -22,354 | -14,545 | -4,289 | 45,896 | 16,066 |
| Capital Expenditures | -10,041 | -12,715 | -9,447 | -10,959 | -10,708 | -11,085 | -7,309 | -10,495 | -13,313 |
| Acquisitions, Net of Cash | — | — | — | — | -306 | -33 | -1,524 | -624 | -721 |
| Maturities of Investments | 32,375 | 40,907 | 51,211 | 39,686 | 29,917 | 59,023 | 69,918 | 40,102 | 55,881 |
| Other Investing Activities | -2,285 | -1,480 | -1,308 | -1,337 | -2,086 | -385 | -909 | -1,078 | -745 |
| Financing Activities | |||||||||
| Financing Cash Flow | -122,051 | -120,686 | -121,983 | -108,488 | -110,749 | -93,353 | -86,820 | -90,976 | -87,876 |
| Issuance of Long-Term Debt | 0 | 4,481 | 0 | 5,228 | 5,465 | 20,393 | 16,091 | 6,963 | 6,969 |
| Repayment of Long-Term Debt | -9,396 | -10,932 | -9,958 | -11,151 | -9,543 | -8,750 | -12,629 | -8,805 | -6,500 |
| Share Repurchases | -82,226 | -90,711 | -94,949 | -77,550 | -89,402 | -85,971 | -72,358 | -66,897 | -72,738 |
| Dividends Paid | -15,640 | -15,421 | -15,234 | -15,025 | -14,841 | -14,467 | -14,081 | -14,119 | -13,712 |
| Proceeds from Stock Issuance | — | — | — | — | — | 1,105 | 880 | 781 | 669 |
| Taxes Paid for Share Settlement | -6,703 | -5,960 | -5,441 | -5,431 | -6,223 | -6,556 | -3,634 | -2,817 | -2,527 |
| Other Financing Activities | -208 | -111 | -361 | -581 | -160 | 976 | 754 | -105 | 0 |
| Reconciliation | |||||||||
| Net Change in Cash | 3,275 | 5,991 | -794 | 5,760 | -10,952 | -3,860 | -10,435 | 24,311 | 5,624 |
| Supplemental | |||||||||
| Interest Paid | — | — | — | 3,803 | 2,865 | 2,687 | 3,002 | 3,423 | 3,022 |
| Income Taxes Paid | 32,592 | 43,369 | 26,102 | 18,679 | 19,573 | 25,385 | 9,501 | 15,263 | 10,417 |
| Other Items | |||||||||
| Increase (Decrease) in Other Receivables | -8,231 | -347 | -1,356 | 1,271 | -7,520 | -3,903 | 1,553 | 2,931 | -8,010 |
| Payments to Acquire Debt Securities, Available-for-Sale | -55,568 | -24,407 | -48,656 | -29,513 | -76,923 | -109,558 | -114,938 | -39,630 | -71,356 |
| Proceeds from Sale of Debt Securities, Available-for-Sale | 14,121 | 12,890 | 11,135 | 5,828 | 37,446 | 47,460 | 50,473 | 56,988 | 47,838 |
| Payments to Acquire Other Investments | — | — | — | — | — | -131 | -210 | -1,001 | -1,871 |
| Proceeds from Sale and Maturity of Other Investments | — | — | — | — | — | 387 | 92 | 1,634 | 353 |
| Proceeds from (Repayments of) Commercial Paper | -7,878 | -2,032 | 3,960 | -3,978 | 3,955 | 1,022 | -963 | -5,977 | -37 |
Ratios derived from the statements above and the EOD price feed; prices are taken at each period's end date.
| Line item | FY 2025 2025-09-30 | FY 2024 2024-09-30 | FY 2023 2023-09-30 | FY 2022 2022-09-30 | FY 2021 2021-09-30 | FY 2020 2020-09-30 | FY 2019 2019-09-30 | FY 2018 2018-09-30 |
|---|---|---|---|---|---|---|---|---|
| Financial Efficiency | ||||||||
| Asset Turnover | 1.16 | 1.07 | 1.09 | 1.12 | 1.04 | 0.85 | 0.77 | 0.73 |
| Current Ratio | 0.89 | 0.87 | 0.99 | 0.88 | 1.07 | 1.36 | 1.54 | 1.13 |
| Debt / EBITDA Ratio | 0.68 | 0.79 | 0.88 | 0.92 | 1.04 | 1.45 | 1.41 | 1.40 |
| Debt / Equity Ratio | 1.34 | 1.87 | 1.79 | 2.37 | 1.98 | 1.72 | 1.19 | 1.07 |
| Debt / FCF Ratio | 1.00 | 0.98 | 1.12 | 1.08 | 1.34 | 1.53 | 1.83 | 1.79 |
| Inventory Turnover | 38.64 | 28.87 | 33.82 | 45.20 | 32.37 | 41.75 | 39.40 | 41.39 |
| Net Debt / EBITDA Ratio | -0.23 | -0.37 | -0.41 | -0.38 | -0.55 | -1.03 | -1.28 | -1.50 |
| Net Debt / Equity Ratio | -0.46 | -0.88 | -0.82 | -0.97 | -1.04 | -1.22 | -1.08 | -1.14 |
| Net Debt / FCF Ratio | -0.34 | -0.46 | -0.51 | -0.44 | -0.71 | -1.08 | -1.66 | -1.91 |
| Quick Ratio | 0.77 | 0.74 | 0.84 | 0.71 | 0.91 | 1.22 | 1.38 | 0.99 |
| Return on Assets (ROA) | 30.93% | 26.13% | 27.50% | 28.36% | 28.06% | 17.33% | 15.69% | 16.07% |
| Return on Capital Employed (ROCE) | 68.72% | 65.34% | 55.14% | 60.09% | 48.31% | 30.34% | 27.46% | 28.38% |
| Return on Equity (ROE) | 171.42% | 157.41% | 171.95% | 175.46% | 147.44% | 73.69% | 55.92% | 49.36% |
| Return on Invested Capital (ROIC) | 95.17% | 95.25% | 86.85% | 81.51% | 75.64% | 66.12% | 56.40% | 38.33% |
| Yields | ||||||||
| Dividend Yield | 0.41% | 0.43% | 0.56% | 0.66% | 0.61% | 0.70% | 1.37% | 1.23% |
| Earnings Yield | 2.94% | 2.62% | 3.60% | 4.45% | 4.01% | 2.86% | 5.34% | 5.32% |
| FCF Yield | 2.59% | 3.04% | 3.69% | 4.97% | 3.93% | 3.65% | 5.69% | 5.73% |
| Payout Ratio | 13.77% | 16.25% | 15.49% | 14.87% | 15.28% | 24.53% | 25.55% | 23.03% |
| Total Valuation | ||||||||
| Enterprise Value | 3,840,100 | 3,625,122 | 2,746,581 | 2,290,086 | 2,429,027 | 2,088,943 | 1,132,107 | 1,241,244 |
| Last Close Price | 254.63 | 233.00 | 171.21 | 138.20 | 141.50 | 115.81 | 55.99 | 56.44 |
| Market Capitalization | 3,806,337 | 3,575,101 | 2,695,570 | 2,241,046 | 2,363,230 | 2,009,549 | 1,034,256 | 1,118,627 |
| EV Ratios | ||||||||
| EV/EBIT Ratio | 28.86 | 29.42 | 24.03 | 19.17 | 22.30 | 31.51 | 17.71 | 17.51 |
| EV/EBITDA Ratio | 26.53 | 26.92 | 21.83 | 17.54 | 20.20 | 27.01 | 14.80 | 15.17 |
| EV/FCF Ratio | 38.88 | 33.32 | 27.58 | 20.55 | 26.13 | 28.47 | 19.22 | 19.36 |
| EV/Sales Ratio | 9.23 | 9.27 | 7.17 | 5.81 | 6.64 | 7.61 | 4.35 | 4.67 |
| Price Ratios | ||||||||
| P/FCF Ratio | 38.54 | 32.86 | 27.07 | 20.11 | 25.42 | 27.39 | 17.56 | 17.45 |
| P/OCF Ratio | 34.14 | 30.23 | 24.38 | 18.35 | 22.72 | 24.91 | 14.90 | 14.45 |
| P/TBV Ratio | 60.77 | 62.78 | 43.37 | 44.23 | 37.46 | 30.76 | 11.43 | 10.44 |
| PB Ratio | 51.62 | 62.78 | 43.37 | 44.23 | 37.46 | 30.76 | 11.43 | 10.44 |
| PE Ratio | 34.00 | 38.13 | 27.79 | 22.47 | 24.96 | 34.99 | 18.73 | 18.81 |
| PEG Ratio | 1.50 | — | 173.71 | 2.65 | 0.35 | 3.27 | — | — |
| PS Ratio | 9.15 | 9.14 | 7.03 | 5.68 | 6.46 | 7.32 | 3.98 | 4.21 |