Financials Apple Inc.

Equities

AAPL

US0378331005

Phones & Handheld Devices

Market Closed - Nasdaq 04:00:00 2024-07-05 pm EDT 5-day change 1st Jan Change
226.3 USD +2.14% Intraday chart for Apple Inc. +7.44% +17.53%

Valuation

Fiscal Period: September 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 1,012,161 1,980,645 2,339,018 2,220,978 2,676,737 3,470,716 - -
Enterprise Value (EV) 1 914,310 1,901,251 2,273,221 2,171,938 2,625,726 3,420,382 3,414,836 3,405,443
P/E ratio 18.8 x 35.3 x 25.2 x 22.6 x 27.9 x 34.3 x 31.1 x 27.5 x
Yield 1.34% 0.69% 0.6% 0.65% 0.55% 0.44% 0.46% 0.48%
Capitalization / Revenue 3.89 x 7.22 x 6.39 x 5.63 x 6.98 x 8.97 x 8.38 x 7.77 x
EV / Revenue 3.51 x 6.93 x 6.21 x 5.51 x 6.85 x 8.84 x 8.25 x 7.62 x
EV / EBITDA 12 x 24.6 x 18.9 x 16.6 x 20.9 x 25.8 x 24.2 x 22 x
EV / FCF 15.5 x 25.9 x 24.5 x 19.5 x 26.4 x 31 x 27.7 x 25.1 x
FCF Yield 6.44% 3.86% 4.09% 5.13% 3.79% 3.23% 3.61% 3.98%
Price to Book 11 x 31.5 x 36.8 x 43.5 x 42.8 x 52.8 x 47.9 x 38.5 x
Nbr of stocks (in thousands) 18,076,720 17,102,536 16,530,166 16,070,752 15,634,232 15,334,082 - -
Reference price 2 55.99 115.8 141.5 138.2 171.2 226.3 226.3 226.3
Announcement Date 10/30/19 10/29/20 10/28/21 10/27/22 11/2/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: September 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 260,174 274,515 365,817 394,328 383,285 386,963 414,115 446,763
EBITDA 1 76,477 77,344 120,233 130,541 125,820 132,523 141,179 155,027
EBIT 1 63,930 66,288 108,949 119,437 114,301 120,753 129,909 141,073
Operating Margin 24.57% 24.15% 29.78% 30.29% 29.82% 31.21% 31.37% 31.58%
Earnings before Tax (EBT) 1 65,737 67,091 109,207 119,103 113,736 120,720 129,866 140,936
Net income 1 55,256 57,411 94,680 99,803 96,995 101,481 109,319 118,666
Net margin 21.24% 20.91% 25.88% 25.31% 25.31% 26.23% 26.4% 26.56%
EPS 2 2.972 3.280 5.610 6.110 6.130 6.591 7.280 8.217
Free Cash Flow 1 58,896 73,365 92,953 111,443 99,584 110,382 123,288 135,414
FCF margin 22.64% 26.73% 25.41% 28.26% 25.98% 28.53% 29.77% 30.31%
FCF Conversion (EBITDA) 77.01% 94.86% 77.31% 85.37% 79.15% 83.29% 87.33% 87.35%
FCF Conversion (Net income) 106.59% 127.79% 98.18% 111.66% 102.67% 108.77% 112.78% 114.11%
Dividend per Share 2 0.7500 0.7950 0.8500 0.9000 0.9400 0.9922 1.041 1.092
Announcement Date 10/30/19 10/29/20 10/28/21 10/27/22 11/2/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: September 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2 2025 Q3
Net sales 1 123,945 97,278 82,959 90,146 117,154 94,836 81,797 89,498 119,575 90,753 83,741 92,624 125,411 96,687 89,663
EBITDA 1 44,185 32,716 25,881 27,759 38,932 31,216 26,050 29,622 43,221 30,736 27,080 31,003 43,127 31,816 27,884
EBIT 1 41,488 29,979 23,076 24,894 36,016 28,318 22,998 26,969 40,373 27,900 24,297 27,877 41,834 29,885 26,391
Operating Margin 33.47% 30.82% 27.82% 27.62% 30.74% 29.86% 28.12% 30.13% 33.76% 30.74% 29.01% 30.1% 33.36% 30.91% 29.43%
Earnings before Tax (EBT) 1 41,241 30,139 23,066 24,657 35,623 28,382 22,733 26,998 40,323 28,058 24,227 27,817 41,476 29,663 26,319
Net income 1 34,630 25,010 19,442 20,721 29,998 24,160 19,881 22,956 33,916 23,636 20,363 23,412 34,784 24,855 22,102
Net margin 27.94% 25.71% 23.44% 22.99% 25.61% 25.48% 24.31% 25.65% 28.36% 26.04% 24.32% 25.28% 27.74% 25.71% 24.65%
EPS 2 2.100 1.520 1.200 1.290 1.880 1.520 1.260 1.460 2.180 1.530 1.322 1.536 2.340 1.680 1.502
Dividend per Share 2 0.2200 0.2200 0.2300 0.2300 0.2300 0.2300 0.2400 0.2400 0.2400 0.2500 0.2500 0.2500 0.2500 0.2550 0.2633
Announcement Date 1/27/22 4/28/22 7/28/22 10/27/22 2/2/23 5/4/23 8/3/23 11/2/23 2/1/24 5/2/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: September 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 97,851 79,394 65,797 49,040 51,011 50,334 55,880 65,274
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 58,896 73,365 92,953 111,443 99,584 110,382 123,288 135,414
ROE (net income / shareholders' equity) 55.9% 73.7% 147% 175% 172% 161% 168% 196%
ROA (Net income/ Total Assets) 15.7% 17.3% 28.1% 28.4% 27.5% 29.4% 30.8% 35.5%
Assets 1 352,119 331,203 337,445 351,879 352,669 344,979 354,931 334,271
Book Value Per Share 2 5.090 3.680 3.840 3.180 4.000 4.290 4.720 5.880
Cash Flow per Share 2 3.730 4.600 6.170 7.480 6.990 8.060 8.720 9.780
Capex 1 10,495 7,309 11,085 10,708 10,959 10,168 10,918 11,228
Capex / Sales 4.03% 2.66% 3.03% 2.72% 2.86% 2.63% 2.64% 2.51%
Announcement Date 10/30/19 10/29/20 10/28/21 10/27/22 11/2/23 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
A-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
45
Last Close Price
226.3 USD
Average target price
211.7 USD
Spread / Average Target
-6.46%
Consensus