Business Description
Apple Inc. designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple Vision Pro, Apple TV, Apple Watch, Beats products, and HomePod, as well as Apple branded and third-party accessories. It also provides AppleCare support and cloud services; and operates various platforms, including the App Store that allow customers to discover and download applications and digital content, such as books, music, video, games, and podcasts, as well as advertising services include third-party licensing arrangements and its own advertising platforms. In addition, the company offers various subscription-based services, such as Apple Arcade, a game subscription service; Apple Fitness+, a personalized fitness service; Apple Music, which offers users a curated listening experience with on-demand radio stations; Apple News+, a subscription news and magazine service; Apple TV, which offers exclusive original content and live sports; Apple Card, a co-branded credit card; and Apple Pay, a cashless payment service, as well as licenses its intellectual property. The company serves consumers, and small and mid-sized businesses; and the education, enterprise, and government markets. It distributes third-party applications for its products through the App Store. The company also sells its products through its retail and online stores, and direct sales force; and third-party cellular network carriers and resellers. The company was formerly known as Apple Computer, Inc. and changed its name to Apple Inc. in January 2007. Apple Inc. was founded in 1976 and is headquartered in Cupertino, California.
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FY – the most recent reported year
Millions
TTM
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
Revenue
$466,823
$416,161
$391,035
$383,285
$394,328
$365,817
$274,515
$260,174
$265,595
$229,234
$215,639
Revenue Growth
12.2%
6.4%
2.0%
-2.8%
7.8%
33.3%
5.5%
-2.0%
15.9%
6.3%
-7.7%
Gross Profit
$706,523
$637,121
$601,387
$597,422
$617,874
$578,798
$444,074
$421,956
$429,351
$370,282
$347,015
Gross Margin
151.3%
153.1%
153.8%
155.9%
156.7%
158.2%
161.8%
162.2%
161.7%
161.5%
160.9%
NOPAT
$572,728
$540,568
$352,538
$516,206
$508,779
$509,829
$384,840
$349,579
$326,948
$205,485
$177,163
NOPAT Margin
122.7%
129.9%
90.2%
134.7%
129.0%
139.4%
140.2%
134.4%
123.1%
89.6%
82.2%
Earnings Per Share
$8.72
$7.46
$6.08
$6.13
$6.11
$5.61
$3.28
$2.97
$2.98
$2.30
$2.08
EPS Growth
16.9%
22.7%
-0.8%
0.3%
8.9%
71.0%
10.4%
-0.3%
29.4%
10.8%
-
Return on Assets
27.1%
23.0%
21.5%
20.3%
21.2%
20.2%
12.5%
11.3%
12.0%
11.0%
12.3%
Return on Equity
148.8%
171.4%
157.4%
171.9%
175.5%
147.4%
73.7%
55.9%
49.4%
36.9%
36.9%
Return on Invested Capital
53.9%
45.9%
42.5%
38.7%
39.0%
35.2%
21.5%
19.0%
18.8%
16.5%
18.8%
Price-to-Earnings
-
38.9
34.7
28.8
24.9
28.8
34.1
18.6
20.5
17.5
13.1
Price-to-Book
39.1
57.7
52.0
44.4
41.7
37.8
26.6
10.3
9.5
6.0
4.8
FSLI
TTM
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
Revenue
466,823
416,161
391,035
383,285
394,328
365,817
274,515
260,174
265,595
229,234
215,639
Growth
12%
6%
2%
-3%
8%
33%
6%
-2%
16%
6%
-8%
Cost Of Goods Sold
239,700
220,960
210,352
214,137
223,546
212,981
169,559
161,782
163,756
141,048
131,376
Gross Profit
706,523
637,121
601,387
597,422
617,874
578,798
444,074
421,956
429,351
370,282
347,015
Selling General & Admin Exp
29,363
27,601
26,097
24,932
25,094
21,973
19,916
18,245
16,705
15,261
14,194
Research And Development
42,901
34,550
31,370
29,915
26,251
21,914
18,752
16,217
14,236
11,581
10,045
Operating Income
778,787
699,272
658,854
652,269
669,219
622,685
482,742
456,418
460,292
397,124
371,254
Net Interest Exp
0
0
0
0
0
198
890
1,385
2,446
2,878
2,543
Other Non-Operating
-676,833
-607,981
-594,867
-572,015
-588,716
-542,730
-435,901
-413,028
-416,579
-367,389
-343,795
Pre-Tax income
101,954
91,291
63,987
80,254
80,503
80,153
47,731
44,775
46,159
32,613
30,002
Income Tax
26,976
20,719
29,749
16,741
19,300
14,527
9,680
10,481
13,372
15,738
15,685
Net Income
128,930
112,010
93,736
96,995
99,803
94,680
57,411
55,256
59,531
48,351
45,687
EPS (Basic)
$8.76
$7.49
$6.11
$6.16
$6.15
$5.67
$3.31
$2.99
$3.00
$2.32
$2.09
EPS (Diluted)
$8.72
$7.46
$6.08
$6.13
$6.11
$5.61
$3.28
$2.97
$2.98
$2.30
$2.08
Shares (Basic)
14,723
14,949
15,344
15,744
16,216
16,701
17,352
18,471
19,822
20,869
21,883
Shares (Diluted)
14,779
15,005
15,408
15,813
16,326
16,865
17,528
18,596
20,000
21,007
22,001
FSLI
LTM
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
Cash & ST Investments
62,399
54,697
65,171
61,555
48,304
62,639
90,943
100,557
66,301
74,181
67,155
Total Receivables
58,907
72,957
66,243
60,985
60,932
51,506
37,445
45,804
48,995
35,673
29,299
Inventory
11,092
5,718
7,286
6,331
4,946
6,580
4,061
4,106
3,956
4,855
2,132
Other Current Assets
17,420
14,585
14,287
14,695
21,223
14,111
11,264
12,352
12,087
13,936
8,283
Total Current Assets
149,818
147,957
152,987
143,566
135,405
134,836
143,713
162,819
131,339
128,645
106,869
Property, Plant & Equipment, Net
51,431
49,834
45,680
43,715
52,534
49,527
45,336
37,378
41,304
33,783
27,010
Goodwill And Intangibles
20,342
-
-
-
-
-
-
-
-
-
8,620
Long-Term Investments
84,118
77,723
91,479
100,544
120,805
127,877
100,887
105,341
170,799
194,714
170,430
Tax Assets
-
20,777
19,499
17,852
-
-
-
-
-
-
-
Other Assets
77,557
62,950
55,335
46,906
44,011
38,762
33,952
32,978
22,283
18,177
8,757
Total Assets
383,266
359,241
364,980
352,583
352,755
351,002
323,888
338,516
365,725
375,319
321,686
Account Payables
64,525
69,860
68,960
62,611
64,115
54,763
42,296
46,236
55,888
44,242
37,294
Short Term Debt
1,997
7,979
9,967
5,985
9,982
6,000
4,996
5,980
11,964
11,977
8,105
Tax Payables
-
13,016
26,601
8,819
-
-
-
-
-
-
-
Deferred Revenue
9,538
9,055
8,249
8,061
7,912
7,612
6,643
5,522
5,966
7,548
8,080
Other Current Liabilities
73,266
65,721
62,615
59,832
71,973
57,106
51,457
47,980
42,111
37,047
25,527
Total Current Liabilities
149,326
165,631
176,392
145,308
153,982
125,481
105,392
105,718
115,929
100,814
79,006
Long Term Debt
71,340
78,328
85,750
95,281
98,959
109,106
98,667
91,807
93,735
97,207
75,427
Def Rev Non Current
-
-
-
-
-
-
-
-
-
2,836
2,930
Deferred Tax Liabilities
-
-
-
-
-
-
-
-
-
31,504
26,019
Other Liabilities
55,080
41,549
45,888
49,848
49,142
53,325
54,490
50,503
48,914
8,911
10,055
Total Liabilities
275,746
285,508
308,030
290,437
302,083
287,912
258,549
248,028
258,578
241,272
193,437
Common Stock
100,702
93,568
83,276
73,812
64,849
57,365
50,779
45,174
40,201
35,867
31,251
Preferred Stock
-
-
-
-
-
-
-
-
-
-
-
Retained Earnings
11,326
(14,264)
(19,154)
(214)
(3,068)
5,562
14,966
45,898
70,400
98,330
96,364
Other comprehensive Inc
(4,508)
(5,571)
(7,172)
(11,452)
(11,109)
163
(406)
(584)
(3,454)
(150)
634
Treasury Stock
-
-
-
-
-
-
-
-
-
-
-
Minority Interest
-
-
-
-
-
-
-
-
-
-
-
Total Equity
107,520
73,733
56,950
62,146
50,672
63,090
65,339
90,488
107,147
134,047
128,249
Total Liabilities And Equity
383,266
359,241
364,980
352,583
352,755
351,002
323,888
338,516
365,725
375,319
321,686
FSLI
LTM
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
Net Income
128,930
112,010
93,736
96,995
99,803
94,680
57,411
55,256
59,531
48,351
45,687
Depreciation & Amortization
13,100
11,698
11,445
11,519
11,104
11,284
11,056
12,547
10,903
10,157
10,505
Change In Working Capital
5,830
16,140
(20,150)
(1,807)
(7,965)
1,250
(10,177)
2,927
(2,266)
(190)
(5,472)
Stock-Based Compensation
13,706
12,863
11,688
10,833
9,038
7,906
6,829
6,068
5,340
4,840
4,210
Other Non Cash Items
(14,842)
(41,229)
21,535
(6,997)
10,171
(11,082)
15,555
(7,407)
3,926
1,067
11,301
Cash From Operations
146,724
111,482
118,254
110,543
122,151
104,038
80,674
69,391
77,434
64,225
66,231
Property, Plant, & Equipment
(10,041)
(12,715)
(9,447)
(10,959)
(10,708)
(11,085)
(7,309)
(10,495)
(13,313)
(12,451)
(12,734)
Acquisitions
-
-
-
-
-
-
(1,524)
(624)
(721)
(329)
(297)
Investments, Net
(9,072)
29,390
13,690
16,001
(9,560)
(3,075)
5,453
58,093
30,845
(33,542)
(32,022)
Other Investing Activities
(2,285)
(1,480)
(1,308)
(1,337)
(2,086)
(385)
(909)
(1,078)
(745)
(124)
(924)
Cash From Investing
(21,398)
15,195
2,935
3,705
(22,354)
(14,545)
(4,289)
45,896
16,066
(46,446)
(45,977)
Net Issuance of Stock
(88,929)
(96,671)
(100,390)
(82,981)
(95,625)
(92,527)
(75,992)
(68,933)
(74,596)
(34,219)
(30,797)
Net Issuance of Debt
(17,274)
(8,483)
(5,998)
(9,901)
(123)
12,665
2,499
(7,819)
432
29,014
22,057
Dividends Paid
(15,640)
(15,421)
(15,234)
(15,025)
(14,841)
(14,467)
(14,081)
(14,119)
(13,712)
(12,769)
(12,150)
Other
(208)
(111)
(361)
(581)
(160)
976
754
(105)
-
-
-
Cash From Financing
(122,051)
(120,686)
(121,983)
(108,488)
(110,749)
(93,353)
(86,820)
(90,976)
(87,876)
(17,974)
(20,890)
Free Cash Flow
136,683
98,767
108,807
99,584
111,443
92,953
73,365
58,896
64,121
51,774
53,497
All values in millions USD.