Apple Inc.

Technology
Computer Manufacturing
www.apple.com

Earnings Score
Safety Score

Market Cap $3.73T
PE 40
Debt $108.25B
Cash $29.94B
EV $3.80T
FCF $108.81B

Earnings

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Sales & Net Margins

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Earnings	$93.74B
EBIT	$123.49B
ROE	165%
ROA	34%
FCF	$108.81B
Equity	$56.95B
Growth Stability	96%
PE	39.75
PEG	2.98
PB	65.43
P/FCF	34.25
P/S	9.53
Price/Cash	0.01
Debt/Equity	1.9
Debt/FCF	0.99
Net Margins	24%
Gross Margins	46%
Op. Margins	32%
Earnings CAGR	11%
Sales Growth YoY	6%
Sales Growth QoQ	11%
Sales CAGR	8%
FCF CAGR	11%
Equity CAGR	-10%
Earnings Stability	0.86
Earnings Growth YoY	-36%
Earnings Growth QoQ	-31%

Earnings CAGR 5Y	13%
Sales CAGR 5Y	9%
FCF CAGR 5Y	10%
Equity CAGR 5Y	-4%
Earnings CAGR 3Y	0%
Sales CAGR 3Y	0%
FCF CAGR 3Y	0%
Equity CAGR 3Y	2%
Market Cap	$3.73T
Revenue	$391.04B
Dividend Yield	0%
Payout Ratio	16%
Assets	$364.98B
Total Debt	$108.25B
Cash	$29.94B
Shares Outstanding	15.12B
EV	3.8T
Earnings Score	93%
Safety Score	90%
Working Capital	-23.41B
Current Ratio	0.87
Gross Profit	$180.68B
Shares Growth 3y	-3%
Equity Growth QoQ	-15%
Equity Growth YoY	-8%

Assets & ROA

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Stockholders Equity & ROE

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Apple designs a wide variety of consumer electronic devices, including smartphones (iPhone), tablets (iPad), PCs (Mac), smartwatches (Apple Watch), AirPods, and TV boxes (Apple TV), among others. The iPhone makes up the majority of Apple's total revenue. In addition, Apple offers its customers a variety of services such as Apple Music, iCloud, Apple Care, Apple TV+, Apple Arcade, Apple Card, and Apple Pay, among others. Apple's products run internally developed software and semiconductors, and the firm is well known for its integration of hardware, software and services. Apple's products are distributed online as well as through company-owned stores and third-party retailers. The company generates roughly 40% of its revenue from the Americas, with the remainder earned internationally.

SEC Filings

Direct access to Apple Inc. (AAPL) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-K Sep 28
- 10-Q Jun 29
- 10-Q Mar 30
2023
- 10-Q Dec 30
- 10-K Sep 30
- 10-Q Jul 01
- 10-Q Apr 01
2022
- 10-Q Dec 31
- 10-K Sep 24
- 10-Q Jun 25
- 10-Q Mar 26

Sector Comparison

How does Apple Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Apple Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 11%

Stability 86%

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Apple Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Apple Inc..

Years

Calculation mode

= $2.3T

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$109B	$120B	$133B	$147B	$163B	$180B	$200B	$221B	$244B	$270B	$299B	$3T
DCF		$109B	$110B	$111B	$111B	$112B	$113B	$113B	$114B	$115B	$115B	$1.2T
Value	$2.3T

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	09/2015	09/2016	09/2017	09/2018	09/2019	09/2020	09/2021	09/2022	09/2023	09/2024	TTM
Net Margins	23%	21%	21%	22%	21%	21%	26%	25%	25%	24%	24%
ROA	-	19%	17%	20%	19%	21%	31%	34%	32%	34%	34%
ROE	-	36%	36%	56%	61%	88%	150%	197%	156%	165%	165%

Good Net Margins (23.97%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	09/2015	09/2016	09/2017	09/2018	09/2019	09/2020	09/2021	09/2022	09/2023	09/2024	TTM
Debt over FCF	-	1.54	2.16	1.76	1.9	1.57	1.38	1.1	1.17	0.99	0.99
Debt over Equity	0.49	0.64	0.82	1.05	1.24	1.76	2.03	2.43	1.87	1.9	1.9
Growth Stability	-	-	-	100%	100%	100%	100%	100%	100%	96%	96%

Good Debt/FCF ratio (0.99)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Bad Debt/Equity ratio (1.9)

The company is overleveraged and has a bad balance between equity and debt.

Good Graham’s Stability (96%)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	09/2015	09/2016	09/2017	09/2018	09/2019	09/2020	09/2021	09/2022	09/2023	09/2024	CAGR 5Y
Revenue YoY growth	-	-8%	6%	16%	-2%	6%	33%	8%	-3%	2%	9%
Earnings YoY growth	-	-14%	6%	23%	-7%	4%	65%	5%	-3%	-3%	13%
Equity YoY growth	-	7%	5%	-20%	-16%	-28%	-3%	-20%	23%	-8%	-4%
FCF YoY growth	-	-24%	-4%	25%	-8%	25%	27%	20%	-11%	9%	10%