AAPL

Apple Inc. ↗ website

CIK: 0000320193 · Technology / Consumer Electronics · 3d ago

$333.74 +0.48 (+0.14%)

Market Cap $4.9T P/E 40.4 EV/EBITDA 26.2x P/B 46.0 Div Yield 0.32% 52W $202 – $335

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📊 Split-adjusted. Historical EPS and shares-outstanding marked with * have been retroactively normalized for a 4:1 split detected between FY2018 and FY2019. Pre-split rows show post-split equivalents so YoY growth across the boundary reads correctly.

🔍 Buyback Compounder Lens available for this name — run it yourself against AAPL's numbers. Open the Buyback Compounder Lens → Read the writeup →

Growth

Compounded Sales Growth

10 Years	6%
5 Years	9%
3 Years	2%
TTM	13%

Compounded Profit Growth

10 Years	8%
5 Years	14%
3 Years	4%
TTM	26%

Fundamental Growth Decomposition ⓘ

Window:

Returns / Quality

Avg ROIC (All-Capital)

10 Years	67%
5 Years	92%
3 Years	92%
Last Year	104%

Return on Equity

10 Years	110%
5 Years	164%
3 Years	158%
Last Year	152%

Capital Allocation

Capital Return Ratio (vs OE)

10 Years	111%
5 Years	102%
3 Years	104%
Last Year	99%

Dividend Growth (DPS)

10 Years	7%
5 Years	5%
3 Years	4%

Performance

Stock Price CAGR

10 Years	30%
5 Years	19%
3 Years	20%
1 Year	61%

Metric	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Capital Allocation (USD millions / %)
NOPAT	52,448	44,684	46,280	57,894	53,737	56,724	94,456	100,083	97,477	93,532	112,281
Invested capital (ops)	6,179	7,602	12,270	12,558	18,174	14,651	17,535	11,132	16,943	17,416	25,469
Reinvestment rate %	N/A	3.2%	10.1%	0.5%	10.5%	-6.2%	3.1%	-6.4%	6.0%	0.5%	7.2%
ROIC (Ops) % ⓘ	848.8%	648.5%	465.8%	466.4%	349.7%	345.6%	586.9%	698.2%	694.4%	544.4%	523.6%
Invested capital (All-Capital)	139,582	144,626	169,050	146,545	86,338	76,286	114,568	121,106	110,907	98,408	117,693
ROIC (All-Capital) % ⓘ	37.6%	31.4%	29.5%	36.7%	46.1%	69.8%	99.0%	84.9%	84.0%	89.4%	103.9%
Capital return ratio %	N/A	89.5%	94.4%	134.3%	169.6%	134.9%	106.1%	95.4%	99.2%	113.3%	99.1%
Acquisition intensity %	15.5%	10.3%	9.1%	0.8%	10.5%	0.0%	1.0%	3.3%	0.0%	0.0%	0.7%
Profit & Loss (USD millions)
Revenue	233,715	215,639	229,234	265,595	260,174	274,515	365,817	394,328	383,285	391,035	416,161
Revenue growth %	N/A	-7.7%	6.3%	15.9%	-2.0%	5.5%	33.3%	7.8%	-2.8%	2.0%	6.4%
Gross profit	93,626	84,263	88,186	101,839	98,392	104,956	152,836	170,782	169,148	180,683	195,201
Gross margin %	40.1%	39.1%	38.5%	38.3%	37.8%	38.2%	41.8%	43.3%	44.1%	46.2%	46.9%
Gross profit growth %	N/A	-10.0%	4.7%	15.5%	-3.4%	6.7%	45.6%	11.7%	-1.0%	6.8%	8.0%
Operating income	71,230	60,024	61,344	70,898	63,930	66,288	108,949	119,437	114,301	123,216	133,050
Operating margin %	30.5%	27.8%	26.8%	26.7%	24.6%	24.1%	29.8%	30.3%	29.8%	31.5%	32.0%
Operating income growth %	N/A	-15.7%	2.2%	15.6%	-9.8%	3.7%	64.4%	9.6%	-4.3%	7.8%	8.0%
EBITDA	80,430	70,529	71,501	81,801	76,477	77,344	120,233	130,541	125,820	134,661	144,748
EBITDA growth %	N/A	-12.3%	1.4%	14.4%	-6.5%	1.1%	55.5%	8.6%	-3.6%	7.0%	7.5%
EBITDA margin %	34.4%	32.7%	31.2%	30.8%	29.4%	28.2%	32.9%	33.1%	32.8%	34.4%	34.8%
Interest expense	733	1,456	2,323	3,240	3,576	2,873	2,645	2,931	3,933	—	—
Interest coverage (x)	109.7x	48.4x	30.8x	25.2x	21.4x	26.9x	45.5x	44.5x	32.0x	—	—
Net income	53,394	45,687	48,351	59,531	55,256	57,411	94,680	99,803	96,995	93,736	112,010
Net margin %	22.8%	21.2%	21.1%	22.4%	21.2%	20.9%	25.9%	25.3%	25.3%	24.0%	26.9%
Net income growth %	N/A	-14.4%	5.8%	23.1%	-7.2%	3.9%	64.9%	5.4%	-2.8%	-3.4%	19.5%
EPS (diluted, $)	2.31*	2.08*	2.30*	2.98*	2.97	3.28	5.61	6.11	6.13	6.08	7.46
EPS growth %	N/A	-9.9%	10.8%	29.4%	-0.3%	10.4%	71.0%	8.9%	0.3%	-0.8%	22.7%
Balance Sheet (USD millions)
Total assets	290,345	321,686	375,319	365,725	338,516	323,888	351,002	352,755	352,583	364,980	359,241
Total debt	61,828	83,532	109,184	105,699	97,787	103,663	115,106	120,069	111,088	106,629	98,657
Shareholders' equity	119,355	128,249	134,047	107,147	90,488	65,339	63,090	50,672	62,146	56,950	73,733
Cash & equivalents	41,601	67,155	74,181	66,301	101,937	92,716	63,628	49,635	62,327	65,171	54,697
Shares outstanding (M)	22,315*	21,345*	20,505*	19,020*	17,773	16,977	16,427	15,943	15,550	15,117	14,773
Cash Flow (USD millions)
Operating cash flow	81,266	66,231	64,225	77,434	69,391	80,674	104,038	122,151	110,543	118,254	111,482
Capex	11,247	12,734	12,451	13,313	10,495	7,309	11,085	10,708	10,959	9,447	12,715
Free cash flow	70,019	53,497	51,774	64,121	58,896	73,365	92,953	111,443	99,584	108,807	98,767
FCF margin %	30.0%	24.8%	22.6%	24.1%	22.6%	26.7%	25.4%	28.3%	26.0%	27.8%	23.7%
FCF growth %	N/A	-23.6%	-3.2%	23.8%	-8.1%	24.6%	26.7%	19.9%	-10.6%	9.3%	-9.2%
Owner Earnings	N/A	46,574	48,162	64,354	47,766	64,069	94,669	109,279	93,342	97,226	107,094
Owner Earnings margin %	N/A	21.6%	21.0%	24.2%	18.4%	23.3%	25.9%	27.7%	24.4%	24.9%	25.7%
Owner Earnings growth %	N/A	N/A	3.4%	33.6%	-25.8%	34.1%	47.8%	15.4%	-14.6%	4.2%	10.1%
Unlevered Owner Earnings	50,401	42,455	43,986	55,484	55,789	60,471	94,655	100,479	98,037	95,530	111,264
Investing cash flow	-56,274	-45,977	-46,446	16,066	45,896	-4,289	-14,545	-22,354	3,705	2,935	15,195
Financing cash flow	-17,716	-20,890	-17,974	-87,876	-90,976	-86,820	-93,353	-110,749	-108,488	-121,983	-120,686
Dividends paid	11,561	11,965	12,563	13,712	14,119	14,081	14,467	14,841	15,025	15,234	15,421
Share buybacks	35,253	29,722	32,900	72,738	66,897	72,358	85,971	89,402	77,550	94,949	90,711
Buyback yield %	6.4%	5.4%	4.5%	7.2%	7.0%	3.8%	3.8%	4.1%	2.9%	2.7%	2.4%
D&A	9,200	10,505	10,157	10,903	12,547	11,056	11,284	11,104	11,519	11,445	11,698
CFO / Op. Income %	114.1%	110.3%	104.7%	109.2%	108.5%	121.7%	95.5%	102.3%	96.7%	96.0%	83.8%
Working Capital (USD millions)
Accounts receivable	16,849	15,754	17,874	23,186	22,926	16,120	26,278	28,184	29,508	33,410	39,777
Inventory	2,349	2,132	4,855	3,956	4,106	4,061	6,580	4,946	6,331	7,286	5,718
Accounts payable	35,490	37,294	44,242	55,888	46,236	42,296	54,763	64,115	62,611	68,960	69,860
Net PPE	22,471	27,010	33,783	41,304	37,378	36,766	39,440	42,117	43,715	45,680	49,834
Key Ratios
ROE %	44.7%	35.6%	36.1%	55.6%	61.1%	87.9%	150.1%	197.0%	156.1%	164.6%	151.9%
ROA %	18.4%	14.2%	12.9%	16.3%	16.3%	17.7%	27.0%	28.3%	27.5%	25.7%	31.2%
ROCE %	34.0%	24.7%	22.3%	28.4%	27.5%	30.3%	48.3%	60.1%	55.1%	65.3%	68.7%
Debt / Equity	0.52	0.65	0.81	0.99	1.08	1.59	1.82	2.37	1.79	1.87	1.34
Net Debt / EBITDA (x)	0.3x	0.2x	0.5x	0.5x	-0.1x	0.1x	0.4x	0.5x	0.4x	0.3x	0.3x
Debtor days	26	27	28	32	32	21	26	26	28	31	35
Inventory days	6	6	13	9	9	9	11	8	11	13	9
Days payable (DPO)	92	104	114	125	104	91	94	105	107	120	115
Cash conv. cycle	-60	-71	-73	-84	-63	-61	-56	-71	-68	-76	-71

Metric	FY24 Q3 Jun 24	FY24 Q4 Sep 24	FY25 Q1 Dec 24	FY25 Q2 Mar 25	FY25 Q3 Jun 25	FY25 Q4 Sep 25	FY26 Q1 Dec 25	FY26 Q2 Mar 26
Profit & Loss (USD millions)
Revenue	85,777	94,930	124,300	95,359	94,036	102,466	143,756	111,184
Gross profit	39,678	43,879	58,275	44,867	43,718	48,341	69,231	54,781
Gross margin %	46.3%	46.2%	46.9%	47.1%	46.5%	47.2%	48.2%	49.3%
Operating income	25,352	29,591	42,832	29,589	28,202	32,427	50,852	35,885
Net income	21,448	14,736	36,330	24,780	23,434	27,466	42,097	29,578
Net margin %	25.0%	15.5%	29.2%	26.0%	24.9%	26.8%	29.3%	26.6%
EPS (diluted, $)	1.40	0.97	2.40	1.65	1.57	1.86	2.84	2.01
Balance Sheet (USD millions, end of quarter)
Total assets	331,612	364,980	344,085	331,233	331,495	359,241	379,297	371,082
Total debt	101,294	106,629	96,795	98,182	101,723	98,657	90,497	84,697
Shareholders' equity	66,708	56,950	66,758	66,796	65,830	73,733	88,190	106,491
Cash & equivalents	26,635	65,171	30,299	28,162	36,269	54,697	45,317	45,572
Cash Flow (USD millions)
Operating cash flow	28,858	26,811	29,935	23,952	27,867	29,728	53,925	28,702
Capex	2,151	2,908	2,940	3,071	3,462	3,242	2,373	1,971
Free cash flow	26,707	23,903	26,995	20,881	24,405	26,486	51,552	26,731

iPhone

Mac

iPad

Other Products

Wearables

Services

Apple Mac 1

I Pad

I Phone

Manufactured Product Other

Service

Product

Segment	FY2013	FY2014	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue ($M)
iPhone	91,279	101,991 +12%	155,041 66%+52%	136,700 63%-12%	139,337 61%+2%	164,888 62%+18%	142,381 55%-14%	137,781 50%-3%	191,973 52%+39%	205,489 52%+7%	200,583 52%-2%	201,183 51%+0%	209,586 50%+4%
Mac	21,483	24,079 +12%	25,471 11%+6%	22,831 11%-10%	25,569 11%+12%	25,198 9%-1%	25,740 10%+2%	28,622 10%+11%	35,190 10%+23%	40,177 10%+14%	29,357 8%-27%	29,984 8%+2%	33,708 8%+12%
iPad	31,980	30,283 -5%	23,227 10%-23%	20,628 10%-11%	18,802 8%-9%	18,380 7%-2%	21,280 8%+16%	23,724 9%+11%	31,862 9%+34%	29,292 7%-8%	28,300 7%-3%	26,694 7%-6%	28,023 7%+5%
Other Products	10,117	8,379 -17%	10,067 4%+20%	11,132 5%+11%	12,863 6%+16%	—	—	—	—	—	—	—	—
Wearables	—	—	—	—	12,826 6%	17,381 7%+36%	24,482 9%+41%	30,620 11%+25%	38,367 10%+25%	41,241 10%+7%	39,845 10%-3%	37,005 9%-7%	35,686 9%-4%
Services	16,051	18,063 +13%	19,909 9%+10%	24,348 11%+22%	29,980 13%+23%	39,748 15%+33%	46,291 18%+16%	53,768 20%+16%	68,425 19%+27%	78,129 20%+14%	85,200 22%+9%	96,169 25%+13%	109,158 26%+14%
Apple Mac 1	21,483	24,079 +12%	25,471 11%+6%	22,831 11%-10%	—	—	—	—	—	—	—	—	—
I Pad	—	—	23,227 10%	20,628 10%-11%	18,802 8%-9%	18,380 7%-2%	21,280 8%+16%	23,724 9%+11%	31,862 9%+34%	29,292 7%-8%	28,300 7%-3%	26,694 7%-6%	28,023 7%+5%
I Phone	—	—	155,041 66%	136,700 63%-12%	139,337 61%+2%	164,888 62%+18%	142,381 55%-14%	137,781 50%-3%	191,973 52%+39%	205,489 52%+7%	200,583 52%-2%	201,183 51%+0%	209,586 50%+4%
Manufactured Product Other	—	—	—	11,132 5%	12,863 6%+16%	17,417 7%+35%	—	—	—	—	—	—	—
Service	—	—	—	24,348 11%	32,700 14%+34%	39,748 15%+22%	46,291 18%+16%	53,768 20%+16%	68,425 19%+27%	78,129 20%+14%	85,200 22%+9%	96,169 25%+13%	109,158 26%+14%
Product	—	—	—	—	196,534 86%	225,847 85%+15%	213,883 82%-5%	220,747 80%+3%	297,392 81%+35%	316,199 80%+6%	298,085 78%-6%	294,866 75%-1%	307,003 74%+4%
Total (check)	192,393	206,874	437,454	431,278	639,613	731,875	684,009	710,535	955,469	1,023,437	995,453	1,009,947	1,069,931

Source: SEC EDGAR XBRL · Full breakdown ↗

Americas

Europe

Greater China

Japan

Rest of Asia Pacific

Accessories

Apple Ipad

Apple Iphone

Apple Mac

Ipod

Itunes Software And Service

Retail Segment

Segment	FY2012	FY2013	FY2014	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue ($M)
Americas	57,512	77,093 +34%	80,095 +4%	93,864 40%+17%	86,613 40%-8%	96,600 42%+12%	112,093 42%+16%	116,914 45%+4%	124,556 45%+7%	153,306 42%+23%	169,658 43%+11%	162,560 42%-4%	167,045 43%+3%	178,353 43%+7%
Europe	36,323	40,980 +13%	44,285 +8%	50,337 22%+14%	49,952 23%-1%	54,938 24%+10%	62,420 24%+14%	60,288 23%-3%	68,640 25%+14%	89,307 24%+30%	95,118 24%+7%	94,294 25%-1%	101,328 26%+7%	111,032 27%+10%
Greater China	22,533	27,016 +20%	31,853 +18%	58,715 25%+84%	48,492 22%-17%	44,764 20%-8%	51,942 20%+16%	43,678 17%-16%	40,308 15%-8%	68,366 19%+70%	74,200 19%+9%	72,559 19%-2%	66,952 17%-8%	64,377 15%-4%
Japan	10,571	13,782 +30%	15,314 +11%	15,706 7%+3%	16,928 8%+8%	17,733 8%+5%	21,733 8%+23%	21,506 8%-1%	21,418 8%-0%	28,482 8%+33%	25,977 7%-9%	24,257 6%-7%	25,052 6%+3%	28,703 7%+15%
Rest of Asia Pacific	10,741	12,039 +12%	11,248 -7%	15,093 6%+34%	13,654 6%-10%	15,199 7%+11%	17,407 7%+15%	17,788 7%+2%	19,593 7%+10%	26,356 7%+35%	29,375 7%+11%	29,615 8%+1%	30,658 8%+4%	33,696 8%+10%
Accessories	5,145	5,706 +11%	6,093 +7%	—	—	—	—	—	—	—	—	—	—	—
Apple Ipad	30,945	31,980 +3%	30,283 -5%	—	—	—	—	—	—	—	—	—	—	—
Apple Iphone	78,692	91,279 +16%	101,991 +12%	—	—	—	—	—	—	—	—	—	—	—
Apple Mac	23,221	21,483 -7%	24,079 +12%	—	—	—	—	—	—	—	—	—	—	—
Ipod	5,615	4,411 -21%	2,286 -48%	—	—	—	—	—	—	—	—	—	—	—
Itunes Software And Service	12,890	16,051 +25%	18,063 +13%	—	—	—	—	—	—	—	—	—	—	—
Retail Segment	18,828	20,228 +7%	21,462 +6%	—	—	—	—	—	—	—	—	—	—	—
Total (check)	313,016	362,048	387,052	233,715	215,639	229,234	265,595	260,174	274,515	365,817	394,328	383,285	391,035	416,161
Operating Margin %
Americas	+40.7%	+32.2%	+32.7%	+33.2%	+32.5%	+31.8%	+31.1%	+30.0%	+30.3%	+34.8%	+36.9%	+37.2%	+40.5%	+40.6%
Europe	+40.9%	+31.2%	+32.6%	+32.8%	+30.7%	+30.1%	+32.0%	+31.8%	+32.3%	+36.4%	+37.0%	+38.3%	+41.2%	+43.0%
Greater China	+43.7%	+31.5%	+34.7%	+39.2%	+38.8%	+38.0%	+38.0%	+37.2%	+37.9%	+41.7%	+42.0%	+41.8%	+40.4%	+41.8%
Japan	+55.4%	+48.4%	+45.1%	+48.5%	+42.3%	+45.7%	+43.7%	+43.6%	+43.3%	+44.9%	+47.2%	+49.0%	+49.7%	+48.6%
Rest of Asia Pacific	+39.6%	+31.2%	+32.7%	+36.6%	+35.0%	+34.9%	+35.5%	+34.0%	+34.7%	+37.2%	+39.4%	+40.7%	+42.6%	+43.3%
Accessories	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Apple Ipad	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Apple Iphone	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Apple Mac	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Ipod	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Itunes Software And Service	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Retail Segment	+24.5%	+19.9%	+21.3%	—	—	—	—	—	—	—	—	—	—	—

Source: SEC EDGAR XBRL · Full breakdown ↗

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