Apple Inc. (0000320193)

Electronic Computers

Investor Dashboard

Solvency

Leveraged

Net Debt Position

Quality

Low

CFO < Net Income

Capital Strategy

Returner

Focus: Shareholder Yield

FCF Yield (on Equity)

134.0%

Proxy Valuation

Latest Revenue

$416.16B

Latest Net Income

$112.01B

Latest EPS

$7.46

Latest FCF

$98.77B

Diluted Shares

15.005B

Weighted Avg

Current Ratio

0.89x

1. Revenue & Net Income Trend (Billions)

2. EPS Trend ($)

3. Shares Outstanding Trend (Diluted)

4. Free Cash Flow Trend (Billions)

Latest Net Income

$112.01B

Latest EPS

$7.46

Years Since Negative FCF

9 Years

Gross Margin

46.9%

Operating Margin

32.0%

Net Margin

26.9%

1. Free Cash Flow vs. Net Income

2. Margin Trends (%)

3. EPS Trend ($)

4. Return Efficiency: ROE, ROA, ROIC (%)

5. Free Cash Flow Per Share ($)

6. Cash Conversion Ratio (CFO / Net Income)

Target > 1.0 indicates high quality earnings

7. Accruals Ratio (Lower is Better)

Cash From Operations

$111.48B

Cash From Investing

$15.20B

Cash From Financing

$-120.69B

Free Cash Flow

$98.77B

CapEx

$12.72B

CapEx as % Revenue

3.1%

Dividends Paid

$15.42B

Share Repurchases

$89.30B

Total Assets

$359.24B

Current Assets

$147.96B

Cash & Equivalents

$35.93B

Short Term Inv.

$18.76B

Total Equity

$73.73B

Current Liabilities

$165.63B

Total Debt

$103.03B

Net Debt

48.33B

1. Free Cash Flow vs. Net Income

2. Capital Allocation Bridge (Uses of Cash)

3. Asset Composition (Capital Employed)

4. Debt Structure & Leverage

5. Liquidity Ratios (Comfort Band 1.5 - 3.0)

Detailed Financial Statements

Income Statement

Show as % of Revenue

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Revenue	416.16B	391.04B	383.29B	394.33B	365.82B	274.52B	260.17B	265.60B	229.23B	215.64B
Gross Profit	195.20B	180.68B	169.15B	170.78B	152.84B	104.96B	98.39B	101.84B	88.19B	84.26B
Operating Income	133.05B	123.22B	114.30B	119.44B	108.95B	66.29B	63.93B	70.90B	61.34B	60.02B
Net Income	112.01B	93.74B	97.00B	99.80B	94.68B	57.41B	55.26B	59.53B	48.35B	45.69B
EPS	$7.46	$6.08	$6.13	$6.11	$5.61	$3.28	$11.89	$11.91	$9.21	$8.31
Shares Outstanding	15.00B	15.41B	15.81B	16.33B	16.86B	17.53B	4.65B	5.00B	5.25B	5.50B

Balance Sheet

Metric (USD)	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Cash & ST Investments	54.70B	65.17B	61.56B	48.30B	62.64B	90.94B	100.56B	66.30B	74.18B	67.16B
Total Assets	359.24B	364.98B	352.58B	352.76B	351.00B	323.89B	338.52B	365.73B	375.32B	321.69B
Total Debt	103.03B	107.57B	114.93B	110.09B	118.72B	107.44B	102.07B	102.52B	103.70B	78.93B
Total Liabilities	285.51B	308.03B	290.44B	302.08B	287.91B	258.55B	248.03B	258.58B	241.27B	193.44B
Total Equity	73.73B	56.95B	62.15B	50.67B	63.09B	65.34B	90.49B	107.15B	134.05B	128.25B
Net Debt	48.33B	42.40B	53.37B	61.78B	56.08B	16.50B	1.51B	36.22B	29.52B	11.77B

Cash Flow Statement

Metric (USD)	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Cash from Operations (CFO)	111.48B	118.25B	110.54B	122.15B	104.04B	80.67B	69.39B	77.43B	63.60B	-
Capital Expenditures (CapEx)	12.72B	9.45B	10.96B	10.71B	11.09B	7.31B	10.50B	13.31B	12.45B	12.73B
Free Cash Flow (FCF)	98.77B	108.81B	99.58B	111.44B	92.95B	73.37B	58.90B	64.12B	51.15B	-12.73B
Dividends Paid	15.42B	15.23B	15.03B	14.84B	14.47B	14.08B	14.12B	13.71B	12.77B	11.97B
Share Repurchases	89.30B	95.00B	76.60B	90.20B	85.50B	72.50B	67.10B	73.06B	33.00B	29.00B
Debt Repaid (Net)	6.45B	9.96B	5.92B	4.08B	-11.64B	-3.46B	1.84B	-469.0M	-25.16B	-22.45B

CapEx

$12.72B

CapEx as % Revenue

3.1%

Dividends Paid

$15.42B

Share Repurchases

$89.30B

1. Capital Allocation Mix (% of CFO)

2. Reinvestment Rate vs. Revenue Growth

3. Shareholder Payout Ratio (Div + Net Buybacks)

4. Net Share Count Change & Dilution

5. Capex Intensity

6. R&D and Intangible Investment Intensity (% Revenue)

7. Net Debt & Leverage

8. Dividend Policy & Safety

9. Total FCF Allocation (Last 5 Years)

10. Incremental ROIC (3-Year Rolling)

11. Total Shareholder Yield (Dividends + Buybacks)

Total Debt$103.03B

Net Debt$48.33B

Debt to Equity1.40

Debt to Capital58.3%

Short Term % Total Debt12.0%

Current Portion LT Debt(See ST Debt)

Interest Coverage0.0x

Current Ratio0.89x

Quick Ratio0.57x

Working Capital$-17.67B

Working Capital % Rev-4.2%

Op. Cash Coverage1.08x

FCF Coverage0.96x

Years to Repay (NetDebt/FCF)0.5 Yrs

Total Lease Liab.$13.72B

Leases % Assets3.8%

Leases % Debt+Leases11.8%

Lease Exp % Revenue0.5%

Solvency Check (Net Cash Status)

NET DEBT POSITION

1. 10Y Net Debt vs Leverage

2. Debt Maturity Structure (Proxy)

Interest Coverage Ratio

3. Liquidity Trends (Current vs Quick)

Working Capital % Revenue

4. Cash Flow Coverage Ratios

5. Margin & Cash Heatmap

Year	Op Margin	CFO Margin	FCF Margin
2025	32.0%	26.8%	23.7%
2024	31.5%	30.2%	27.8%
2023	29.8%	28.8%	26.0%
2022	30.3%	31.0%	28.3%
2021	29.8%	28.4%	25.4%
2020	24.1%	29.4%	26.7%
2019	24.6%	26.7%	22.6%
2018	26.7%	29.2%	24.1%
2017	26.8%	27.7%	22.3%
2016	27.8%	0.0%	-5.9%

6. Total Contractual Obligations Structure (Debt vs Leases)

7. Latest Obligations Mix

Company Profile

Industry (SIC)

Electronic Computers

State of Inc.

Fiscal Year End

0926

Official Business Address

ONE APPLE PARK WAY
CUPERTINO, CA 95014

Key Documents

View Board of Directors (DEF 14A) ↗ View Insider Transactions (Form 4) ↗