Apple AAPL · Nasdaq Electronic Computers · Fiscal year ends Sep 26
annual quarterly
Last 5 fiscal years
Revenue and net income $0 $200B $400B $600B Sep 2021 Sep 2022 Sep 2023 Sep 2024 Sep 2025 Income statement Fiscal year Sep 2021 Sep 2022 Sep 2023 Sep 2024 Sep 2025 Revenue $366B $394B $383B $391B $416B Cost of revenue $213B $224B $214B $210B $221B Gross profit $153B $171B $169B $181B $195B Research & development $21.9B $26.3B $29.9B $31.4B $34.6B Selling, general & admin $22B $25.1B $24.9B $26.1B $27.6B Operating income $109B $119B $114B $123B $133B Interest expense $2.6B $2.9B $3.9B – – Pre-tax income $109B $119B $114B $123B $133B Income tax $14.5B $19.3B $16.7B $29.7B $20.7B Net income $94.7B $99.8B $97B $93.7B $112B Diluted EPS 5.61 6.11 6.13 6.08 7.46 Diluted shares 16,865M 16,326M 15,813M 15,408M 15,005M
Balance sheet Fiscal year Sep 2021 Sep 2022 Sep 2023 Sep 2024 Sep 2025 Cash & equivalents $34.9B $23.6B $30B $29.9B $35.9B Receivables $26.3B $28.2B $29.5B $33.4B $39.8B Inventory $6.6B $4.9B $6.3B $7.3B $5.7B Current assets $135B $135B $144B $153B $148B Net PP&E $39.4B $42.1B $43.7B $45.7B $49.8B Total assets $351B $353B $353B $365B $359B Payables $54.8B $64.1B $62.6B $69B $69.9B Deferred revenue $7.6B $7.9B $8.1B $8.2B $9.1B Current liabilities $125B $154B $145B $176B $166B Short-term debt $9.6B $11.1B $9.8B $10.9B $12.4B Long-term debt $119B $110B $105B $96.7B $90.7B Total liabilities $288B $302B $290B $308B $286B Shareholders' equity $63.1B $50.7B $62.1B $57B $73.7B
Cash flow Fiscal year Sep 2021 Sep 2022 Sep 2023 Sep 2024 Sep 2025 Operating cash flow $104B $122B $111B $118B $111B Capital expenditure $11.1B $10.7B $11B $9.4B $12.7B Free cash flow $93B $111B $99.6B $109B $98.8B Depreciation & amortisation $11.3B $11.1B $11.5B $11.4B $11.7B Stock-based compensation $7.9B $9B $10.8B $11.7B $12.9B Acquisitions $33M $306M – – – Share buybacks $86B $89.4B $77.6B $94.9B $90.7B Dividends paid $14.5B $14.8B $15B $15.2B $15.4B Dividend per share 0.85 0.90 0.94 0.98 1.02
Key ratios Fiscal year Sep 2021 Sep 2022 Sep 2023 Sep 2024 Sep 2025 Revenue growth (YoY) – 7.8% −2.8% 2.0% 6.4% Operating income growth (YoY) – 9.6% −4.3% 7.8% 8.0% EPS growth (YoY) – 8.9% 0.3% −0.8% 22.7% Gross margin 41.8% 43.3% 44.1% 46.2% 46.9% Operating margin 29.8% 30.3% 29.8% 31.5% 32.0% Net margin 25.9% 25.3% 25.3% 24.0% 26.9% Return on equity 150.1% 197.0% 156.1% 164.6% 151.9% ROCEEBIT ÷ (assets − current liabilities) 48.3% 60.1% 55.1% 65.3% 68.7% Free cash flow margin 25.4% 28.3% 26.0% 27.8% 23.7% Cash conversion (CFO ÷ net income) 1.10x 1.22x 1.14x 1.26x 1.00x Receivable days 26 26 28 31 35 Inventory days 11 8 11 13 9 Payable days 94 105 107 120 115 Interest cover 41.2x 40.7x 29.1x – – Debt ÷ equity 2.03x 2.39x 1.85x 1.89x 1.40x Net debtDebt − cash & equivalents; excludes investments; negative = net cash $93.4B $97.6B $85B $77.6B $67.1B Current ratio 1.07x 0.88x 0.99x 0.87x 0.89x
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.