AAPL · Apple Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $416.16B | $391.04B | $383.29B | $394.33B | $365.82B | $274.51B |
| Cost of Revenue | $220.96B | $210.35B | $214.14B | $223.55B | $212.98B | $169.56B |
| Gross Profit | $195.20B | $180.68B | $169.15B | $170.78B | $152.84B | $104.96B |
| R&D | $34.55B | $31.37B | $29.91B | $26.25B | $21.91B | $18.75B |
| SG&A | $27.60B | $26.10B | $24.93B | $25.09B | $21.97B | $19.92B |
| Total Operating Expenses | $62.15B | $57.47B | $54.85B | $51.34B | $43.89B | $38.67B |
| D&A | $11.70B | $11.45B | $11.52B | $11.10B | $11.28B | $11.06B |
| Operating Income | $133.05B | $123.22B | $114.30B | $119.44B | $108.95B | $66.29B |
| Interest Expense | - | - | $3.93B | $2.93B | $2.65B | $2.87B |
| Income Tax | $20.72B | $29.75B | $16.74B | $19.30B | $14.53B | $9.68B |
| Net Income | $112.01B | $93.74B | $97.00B | $99.80B | $94.68B | $57.41B |
| EPS - Basic | $7.49 | $6.11 | $6.16 | $6.15 | $5.67 | $3.31 |
| EPS - Diluted | $7.46 | $6.08 | $6.13 | $6.11 | $5.61 | $3.28 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $35.93B | $29.94B | $29.96B | $23.65B | $34.94B | $38.02B |
| Accounts Receivable | $39.78B | $33.41B | $29.51B | $28.18B | $26.28B | $16.12B |
| Inventory | $5.72B | $7.29B | $6.33B | $4.95B | $6.58B | $4.06B |
| Accounts Payable | $69.86B | $68.96B | $62.61B | $64.11B | $54.76B | $42.30B |
| Current Assets | $147.96B | $152.99B | $143.57B | $135.41B | $134.84B | $143.71B |
| Total Assets | $359.24B | $364.98B | $352.58B | $352.75B | $351.00B | $323.89B |
| Current Liabilities | $165.63B | $176.39B | $145.31B | $153.98B | $125.48B | $105.39B |
| Long-term Debt | $78.33B | $85.75B | $95.28B | $98.96B | $109.11B | $98.67B |
| Total Liabilities | $285.51B | $308.03B | $290.44B | $302.08B | $287.91B | $258.55B |
| Stockholders' Equity | $73.73B | $56.95B | $62.15B | $50.67B | $63.09B | $65.34B |
| Retained Earnings | ($14.26B) | ($19.15B) | ($214.00M) | ($3.07B) | $5.56B | $14.97B |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $111.48B | $118.25B | $110.54B | $122.15B | $104.04B | $80.67B |
| Investing Cash Flow | $15.20B | $2.94B | $3.71B | ($22.35B) | ($14.54B) | ($4.29B) |
| Financing Cash Flow | ($120.69B) | ($121.98B) | ($108.49B) | ($110.75B) | ($93.35B) | ($86.82B) |
| CapEx | $12.71B | $9.45B | $10.96B | $10.71B | $11.09B | $7.31B |
| Free Cash Flow | $98.77B | $108.81B | $99.58B | $111.44B | $92.95B | $73.36B |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 46.9% | 46.2% | 44.1% | 43.3% | 41.8% | 38.2% |
| Operating margin | 32.0% | 31.5% | 29.8% | 30.3% | 29.8% | 24.1% |
| EBITDA margin | 34.8% | 34.4% | 32.8% | 33.1% | 32.9% | 28.2% |
| Net margin | 26.9% | 24.0% | 25.3% | 25.3% | 25.9% | 20.9% |
| Free cash flow margin | 23.7% | 27.8% | 26.0% | 28.3% | 25.4% | 26.7% |
| FCF / Net income | 0.88 | 1.16 | 1.03 | 1.12 | 0.98 | 1.28 |
| R&D / Revenue | 8.3% | 8.0% | 7.8% | 6.7% | 6.0% | 6.8% |
| SG&A / Revenue | 6.6% | 6.7% | 6.5% | 6.4% | 6.0% | 7.3% |
| Effective tax rate | 15.6% | 24.1% | 14.7% | 16.2% | 13.3% | 14.4% |
| Return on assets | 31.2% | 25.7% | 27.5% | 28.3% | 27.0% | 17.7% |
| Return on equity | 151.9% | 164.6% | 156.1% | 197.0% | 150.1% | 87.9% |
| Return on invested capital | 73.8% | 65.5% | 61.9% | 66.9% | 54.9% | 34.6% |
| Liquidity | ||||||
| Current ratio | 0.89 | 0.87 | 0.99 | 0.88 | 1.07 | 1.36 |
| Quick ratio | 0.86 | 0.83 | 0.94 | 0.85 | 1.02 | 1.33 |
| Cash ratio | 0.22 | 0.17 | 0.21 | 0.15 | 0.28 | 0.36 |
| Leverage | ||||||
| Debt / Equity | 1.06 | 1.51 | 1.53 | 1.95 | 1.73 | 1.51 |
| Debt / Assets | 0.22 | 0.23 | 0.27 | 0.28 | 0.31 | 0.30 |
| Debt / EBITDA | 0.54 | 0.64 | 0.76 | 0.76 | 0.91 | 1.28 |
| Interest coverage | - | - | 29.1x | 40.7x | 41.2x | 23.1x |
| Equity multiplier | 4.87 | 6.41 | 5.67 | 6.96 | 5.56 | 4.96 |
| Liabilities / Assets | 0.79 | 0.84 | 0.82 | 0.86 | 0.82 | 0.80 |
| Efficiency | ||||||
| Asset turnover | 1.16 | 1.07 | 1.09 | 1.12 | 1.04 | 0.85 |
| Inventory turnover | 38.64 | 28.87 | 33.82 | 45.20 | 32.37 | 41.75 |
| Days sales outstanding | 35d | 31d | 28d | 26d | 26d | 21d |
| Days inventory outstanding | 9d | 13d | 11d | 8d | 11d | 9d |
| Days payable outstanding | 115d | 120d | 107d | 105d | 94d | 91d |
| Cash conversion cycle | -71d | -76d | -68d | -71d | -56d | -61d |
| Valuation | ||||||
| P / E | 34.1x | 38.3x | 27.9x | 22.6x | 26.2x | 34.2x |
| P / B | 51.8x | 63.0x | 43.6x | 44.5x | 39.3x | 30.1x |
| P / S | 9.2x | 9.2x | 7.1x | 5.7x | 6.8x | 7.2x |
| EV / EBITDA | 26.7x | 27.1x | 22.0x | 17.9x | 21.2x | 26.2x |
| Growth | ||||||
| Revenue growth (YoY) | 6.4% | 2.0% | -2.8% | 7.8% | 33.3% | 19.8% |
| Revenue CAGR (3y) | 1.8% | 2.2% | 11.8% | 19.8% | 16.9% | 6.2% |
| Revenue CAGR (5y) | 8.7% | 11.3% | 10.8% | 11.5% | 11.1% | 3.3% |
| Gross profit growth (YoY) | 8.0% | 6.8% | -1.0% | 11.7% | 45.6% | 6.7% |
| Operating income growth (YoY) | 8.0% | 7.8% | -4.3% | 9.6% | 64.4% | 3.7% |
| Net income growth (YoY) | 19.5% | -3.4% | -2.8% | 5.4% | 64.9% | 3.9% |
| EPS growth (YoY) | 22.7% | -0.8% | 0.3% | 8.9% | 71.0% | -72.4% |
| EPS CAGR (3y) | 6.9% | 2.7% | 23.2% | -19.9% | -22.2% | -29.1% |
| EPS CAGR (5y) | 17.9% | -12.6% | -12.4% | -7.9% | -7.6% | -18.7% |
| FCF growth (YoY) | -9.2% | 9.3% | -10.6% | 19.9% | 26.7% | 24.6% |
| FCF CAGR (5y) | 6.1% | 13.1% | 9.2% | 16.9% | 11.9% | 0.1% |
| Book value growth (YoY) | 29.5% | -8.4% | 22.6% | -19.7% | -3.4% | -27.8% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-09-27.
Business segments
$416.16B totalAmericas Segment$178.35B · 42.9%
Europe Segment$111.03B · 26.7%
Greater China Segment$64.38B · 15.5%
Rest Of Asia Pacific Segment$33.70B · 8.1%
Japan Segment$28.70B · 6.9%
Product / service
$723.16B totalProduct$307.00B · 42.5%
IPhone$209.59B · 29.0%
Service$109.16B · 15.1%
Wearables Homeand Accessories$35.69B · 4.9%
Mac$33.71B · 4.7%
IPad$28.02B · 3.9%
Geographic
$416.16B totalOther Countries$199.99B · 48.1%
US$151.79B · 36.5%
CN$64.38B · 15.5%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
2.35
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
8/9
Strong
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✗Cash flow > net income
- ✓Long-term debt decreased
- ✓Current ratio improved
- ✓No share dilution
- ✓Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Electronic Computers
Comparing Apple Inc. against the 5 most active filers in the same SIC group.
Dividends
$1.05/share trailing 12 months · +4.0% YoY
| Ex-date | Per share |
|---|---|
| May 11, 2026 | $0.2700 |
| Feb 9, 2026 | $0.2600 |
| Nov 10, 2025 | $0.2600 |
| Aug 11, 2025 | $0.2600 |
| May 12, 2025 | $0.2600 |
| Feb 10, 2025 | $0.2500 |
| Nov 8, 2024 | $0.2500 |
| Aug 12, 2024 | $0.2500 |
| May 10, 2024 | $0.2500 |
| Feb 9, 2024 | $0.2400 |
| Nov 10, 2023 | $0.2400 |
| Aug 11, 2023 | $0.2400 |
| May 12, 2023 | $0.2400 |
| Feb 10, 2023 | $0.2300 |
| Nov 4, 2022 | $0.2300 |
| Aug 5, 2022 | $0.2300 |
| May 6, 2022 | $0.2300 |
| Feb 4, 2022 | $0.2200 |
| Nov 5, 2021 | $0.2200 |
| Aug 6, 2021 | $0.2200 |
| May 7, 2021 | $0.2200 |
| Feb 5, 2021 | $0.2050 |
| Nov 6, 2020 | $0.2050 |
| Aug 7, 2020 | $0.2050 |