Financials

Income statement, balance sheet and cash flow, built from SEC EDGAR filings.

Apple Inc.

AAPL · CIK 0000320193
Annual Quarterly

Figures in millions of USD unless the line is a per-share amount or a share count.

Line item Q3 2026 2026-06-30 Q2 2026 2026-03-31 Q1 2026 2025-12-31 Q4 2025 2025-09-30 Q3 2025 2025-06-30 Q2 2025 2025-03-31 Q1 2025 2024-12-31 Q4 2024 2024-09-30
Income Statement
Revenue 109,417 111,184 143,756 102,466 94,036 95,359 124,300 94,930
Gross Profit 54,770 54,781 69,231 48,341 43,718 44,867 58,275 43,879
Operating Income 35,695 35,885 50,852 32,427 28,202 29,589 42,832 29,591
Pre-Tax Income 36,267 35,833 51,002 32,804 28,031 29,310 42,584 29,610
Net Income 29,789 29,578 42,097 27,466 23,434 24,780 36,330 14,736
EPS (Diluted) 2.02 2.01 2.84 1.85 1.57 1.65 2.40 0.97
Balance Sheet
Total Assets 383,266 371,082 379,297 359,241 331,495 331,233 344,085 364,980
Total Liabilities 275,746 264,591 291,107 285,508 265,665 264,437 277,327 308,030
Shareholders' Equity 107,520 106,491 88,190 73,733 65,830 66,796 66,758 56,950
Cash & Equivalents 39,544 45,572 45,317 35,934 36,269 28,162 30,299 29,943
Cash Flow
Operating Cash Flow 34,369 28,702 53,925 29,728 27,867 23,952 29,935 26,811
Capital Expenditures -2,455 -1,971 -2,373 -3,242 -3,462 -3,071 -2,940 -2,908
Free Cash Flow 31,914 26,731 51,552 26,486 24,405 20,881 26,995 23,903
Ratios
Gross Margin 50.06% 49.27% 48.16% 47.18% 46.49% 47.05% 46.88% 46.22%
Operating Margin 32.62% 32.28% 35.37% 31.65% 29.99% 31.03% 34.46% 31.17%
Profit Margin 27.23% 26.60% 29.28% 26.80% 24.92% 25.99% 29.23% 15.52%
Free Cash Flow Margin 29.17% 24.04% 35.86% 25.85% 25.95% 21.90% 21.72% 25.18%
Line item Q3 2026 2026-06-30 Q2 2026 2026-03-31 Q1 2026 2025-12-31 Q4 2025 2025-09-30 Q3 2025 2025-06-30 Q2 2025 2025-03-31 Q1 2025 2024-12-31 Q4 2024 2024-09-30
Revenue
Total Revenue 109,417 111,184 143,756 102,466 94,036 95,359 124,300 94,930
Cost of Revenue
Cost of Revenue 54,647 56,403 74,525 54,125 50,318 50,492 66,025 51,051
Gross Profit
Gross Profit 54,770 54,781 69,231 48,341 43,718 44,867 58,275 43,879
Operating Expenses
R&D Expense 11,729 11,419 10,887 8,866 8,866 8,550 8,268 7,765
SG&A Expense 7,346 7,477 7,492 7,048 6,650 6,728 7,175 6,523
Total Operating Expenses 19,075 18,896 18,379 15,914 15,516 15,278 15,443 14,288
Operating Income
Operating Income 35,695 35,885 50,852 32,427 28,202 29,589 42,832 29,591
Non-Operating Items
Non-Operating Income/Expense 572 -52 150 377 -171 -279 -248 19
Pre-Tax Income
Income Before Tax 36,267 35,833 51,002 32,804 28,031 29,310 42,584 29,610
Tax
Income Tax Expense 6,478 6,255 8,905 5,338 4,597 4,530 6,254 14,874
Net Income
Net Income Available to Common 29,789 29,578 42,097 27,466 23,434 24,780 36,330 14,736
EPS
EPS (Basic) 2.03 2.02 2.85 1.85 1.57 1.65 2.41 0.97
EPS (Diluted) 2.02 2.01 2.84 1.85 1.57 1.65 2.40 0.97
Shares
Shares Outstanding (Basic) 14,656 14,673 14,748 14,815 14,903 14,994 15,082 15,172
Shares Outstanding (Diluted) 14,715 14,726 14,810 14,864 14,948 15,056 15,151 15,243
Line item Q3 2026 2026-06-30 Q2 2026 2026-03-31 Q1 2026 2025-12-31 Q4 2025 2025-09-30 Q3 2025 2025-06-30 Q2 2025 2025-03-31 Q1 2025 2024-12-31 Q4 2024 2024-09-30
Assets
Total Assets 383,266 371,082 379,297 359,241 331,495 331,233 344,085 364,980
Current Assets 149,818 144,114 158,104 147,957 122,491 118,674 133,240 152,987
Current Assets
Cash & Cash Equivalents 39,544 45,572 45,317 35,934 36,269 28,162 30,299 29,943
Marketable Securities, Current 22,855 22,935 21,590 18,763 19,103 20,336 23,476 35,228
Accounts Receivable, Net 31,398 30,339 39,921 39,777 27,557 26,136 29,639 33,410
Inventory 11,092 6,747 5,875 5,718 5,925 6,269 6,911 7,286
Other Current Assets 17,420 15,349 15,002 14,585 14,359 14,109 13,248 14,287
Non-Current Assets
Property, Plant & Equipment, Net 51,431 50,116 50,159 49,834 48,508 46,876 46,069 45,680
Other Non-Current Assets 77,557 77,430 93,146 72,634 82,882 81,259 77,183 74,834
Total Non-Current Assets 233,448 226,968 221,193 211,284 209,004 212,559 210,845 211,993
Liabilities & Equity
Total Liabilities & Equity 383,266 371,082 379,297 359,241 331,495 331,233 344,085 364,980
Liabilities
Total Liabilities 275,746 264,591 291,107 285,508 265,665 264,437 277,327 308,030
Current Liabilities
Current Liabilities 149,326 134,641 162,367 165,631 141,120 144,571 144,365 176,392
Accounts Payable 64,525 57,349 70,587 69,860 50,374 54,126 61,910 68,960
Current Portion of Long-Term Debt 11,007 8,310 11,827 12,350 9,345 13,638 10,848 10,912
Deferred Revenue, Current 9,538 9,331 9,413 9,055 8,979 8,976 8,461 8,249
Other Current Liabilities 62,259 57,654 68,543 66,387 62,499 61,849 61,151 78,304
Non-Current Liabilities
Long-Term Debt 71,340 74,404 76,685 78,328 82,430 78,566 83,956 85,750
Other Non-Current Liabilities 55,080 55,546 52,055 41,549 42,115 41,300 49,006 45,888
Total Non-Current Liabilities 126,420 129,950 128,740 119,877 124,545 119,866 132,962 131,638
Equity
Total Stockholders' Equity 107,520 106,491 88,190 73,733 65,830 66,796 66,758 56,950
Common Stock & Additional Paid-In Capital 100,702 99,507 95,221 93,568 89,806 88,711 84,768 83,276
Retained Earnings (Deficit) 11,326 12,359 -2,177 -14,264 -17,607 -15,552 -11,221 -19,154
Accumulated OCI -4,508 -5,375 -4,854 -5,571 -6,369 -6,363 -6,789 -7,172
Other Items
Common stock, par value 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
Common stock, shares issued 14,609 14,668 14,703 14,773 14,857 14,939 15,041 15,117
Common stock, shares outstanding 14,609 14,668 14,703 14,773 14,857 14,939 15,041 15,117
Nontrade Receivables, Current 27,509 23,172 30,399 33,180 19,278 23,662 29,667 32,833
Marketable Securities, Noncurrent 84,118 78,088 77,888 77,723 77,614 84,424 87,593 91,479
Intangible assets, net 20,342 21,334 — 11,093 — — — —
Commercial Paper 1,997 1,997 1,997 7,979 9,923 5,982 1,995 9,967
Line item Q3 2026 2026-06-30 Q2 2026 2026-03-31 Q1 2026 2025-12-31 Q4 2025 2025-09-30 Q3 2025 2025-06-30 Q2 2025 2025-03-31 Q1 2025 2024-12-31 Q4 2024 2024-09-30
Operating Activities
Net Income 29,789 29,578 42,097 27,466 23,434 24,780 36,330 14,736
Operating Cash Flow 34,369 28,702 53,925 29,728 27,867 23,952 29,935 26,811
Depreciation & Amortization (CF) 3,320 3,439 3,214 3,127 2,830 2,661 3,080 2,911
Share-Based Compensation 3,401 3,528 3,594 3,183 3,168 3,226 3,286 2,858
Change in Accounts Receivable -979 9,448 -153 -12,367 -1,581 3,669 3,597 -10,485
Change in Inventory -4,377 -873 -211 177 365 643 215 -1,087
Change in Accounts Payable 7,094 -13,145 848 19,381 -3,875 -7,933 -6,671 21,191
Change in Other Operating Assets -1,937 -4,079 -10,250 -3,081 -1,745 -5,310 939 -6,105
Change in Other Operating Liabilities 2,715 -5,232 12,533 4,085 418 -3,581 -11,998 15,550
Other Non-Cash Items -320 -1,189 -528 1,659 469 -208 -2,009 -302
Investing Activities
Investing Cash Flow -7,757 -6,168 -4,886 -2,587 5,073 2,917 9,792 1,445
Capital Expenditures -2,455 -1,971 -2,373 -3,242 -3,462 -3,071 -2,940 -2,908
Maturities of Investments 7,813 11,181 7,510 5,871 8,449 10,620 15,967 11,373
Other Investing Activities -196 -1,430 -154 -505 -340 -32 -603 -191
Financing Activities
Financing Cash Flow -32,640 -22,279 -39,656 -27,476 -24,833 -29,006 -39,371 -24,948
Issuance of Long-Term Debt — — — 0 — — — 0
Repayment of Long-Term Debt -232 -5,750 -2,164 -1,250 -5,673 -3,000 -1,009 -2,558
Share Repurchases -25,105 -12,288 -24,701 -20,132 -21,075 -25,898 -23,606 -25,083
Dividends Paid -4,035 -3,822 -3,921 -3,862 -3,945 -3,758 -3,856 -3,804
Taxes Paid for Share Settlement -3,210 -330 -2,922 -241 -2,514 -284 -2,921 -278
Other Financing Activities -58 -88 -38 -24 -10 -42 -35 -170
Reconciliation
Net Change in Cash -6,028 255 9,383 -335 8,107 -2,137 356 3,308
Supplemental
Income Taxes Paid 6,158 16,963 3,434 6,037 5,649 13,032 18,651 6,872
Other Items
Increase (Decrease) in Other Receivables -4,337 7,227 2,781 -13,902 4,384 6,005 3,166 -12,456
Payments to Acquire Debt Securities, Available-for-Sale -16,320 -19,739 -12,693 -6,816 -5,149 -6,318 -6,124 -10,582
Proceeds from Sale of Debt Securities, Available-for-Sale 3,401 5,791 2,824 2,105 5,575 1,718 3,492 3,753
Proceeds from (Repayments of) Commercial Paper 0 -1 -5,910 -1,967 3,903 3,976 -7,944 6,945

Ratios derived from the statements above and the EOD price feed; prices are taken at each period's end date.

Line item Q3 2026 2026-06-30 Q2 2026 2026-03-31 Q1 2026 2025-12-31 Q4 2025 2025-09-30 Q3 2025 2025-06-30 Q2 2025 2025-03-31 Q1 2025 2024-12-31 Q4 2024 2024-09-30
Financial Efficiency
Asset Turnover 0.29 0.30 0.38 0.29 0.28 0.29 0.36 0.26
Current Ratio 1.00 1.07 0.97 0.89 0.87 0.82 0.92 0.87
Debt / EBITDA Ratio 2.16 2.15 1.67 2.77 3.28 3.04 2.11 3.28
Debt / Equity Ratio 0.78 0.80 1.03 1.34 1.54 1.47 1.45 1.87
Debt / FCF Ratio 2.64 3.17 1.76 3.72 4.17 4.70 3.59 4.46
Inventory Turnover 4.93 8.36 12.69 9.47 8.49 8.05 9.55 7.01
Net Debt / EBITDA Ratio -1.59 -1.57 -1.00 -0.95 -1.01 -1.08 -0.97 -1.54
Net Debt / Equity Ratio -0.58 -0.58 -0.62 -0.46 -0.48 -0.52 -0.67 -0.88
Net Debt / FCF Ratio -1.95 -2.32 -1.05 -1.27 -1.28 -1.66 -1.65 -2.09
Quick Ratio 0.81 0.91 0.85 0.77 0.72 0.68 0.78 0.74
Return on Assets (ROA) 7.90% 7.88% 11.40% 7.95% 7.07% 7.34% 10.25% 4.23%
Return on Capital Employed (ROCE) 15.26% 15.18% 23.44% 16.75% 14.81% 15.85% 21.45% 15.69%
Return on Equity (ROE) 27.84% 30.39% 52.00% 39.36% 35.34% 37.11% 58.74% 23.83%
Return on Invested Capital (ROIC) 23.01% 24.11% 37.66% 23.34% 20.89% 21.27% 33.09% 14.97%
Yields
Dividend Yield 0.10% 0.10% 0.10% 0.10% 0.13% 0.11% 0.10% 0.11%
Earnings Yield 0.70% 0.80% 1.05% 0.73% 0.77% 0.74% 0.96% 0.42%
FCF Yield 0.75% 0.72% 1.29% 0.70% 0.80% 0.63% 0.71% 0.68%
Payout Ratio 13.55% 12.92% 9.31% 14.06% 16.83% 15.17% 10.61% 25.81%
Total Valuation
Enterprise Value 4,303,065 3,785,815 4,063,720 3,806,185 3,088,913 3,365,371 3,821,334 3,585,095
Last Close Price 289.36 253.79 271.86 254.63 205.17 222.13 250.42 233.00
Market Capitalization 4,240,892 3,723,931 4,009,434 3,772,422 3,057,625 3,330,635 3,776,765 3,535,074
EV Ratios
EV/EBIT Ratio 120.55 105.50 79.91 117.38 109.53 113.74 89.22 121.15
EV/EBITDA Ratio 110.29 96.27 75.16 107.05 99.54 104.35 83.23 110.30
EV/FCF Ratio 134.83 141.63 78.83 143.71 126.57 161.17 141.56 149.99
EV/Sales Ratio 39.33 34.05 28.27 37.15 32.85 35.29 30.74 37.77
Price Ratios
P/FCF Ratio 132.88 139.31 77.77 142.43 125.29 159.51 139.91 147.89
P/OCF Ratio 123.39 129.74 74.35 126.90 109.72 139.05 126.17 131.85
P/TBV Ratio 48.65 43.73 45.46 60.22 46.45 49.86 56.57 62.07
PB Ratio 39.44 34.97 45.46 51.16 46.45 49.86 56.57 62.07
PE Ratio 142.54 125.64 95.39 137.35 130.68 134.62 103.91 239.88
PEG Ratio 285.08 — 1.78 7.60 — — 0.70 —
PS Ratio 38.76 33.49 27.89 36.82 32.52 34.93 30.38 37.24