Financials Apple Inc.

Equities

AAPL

US0378331005

Phones & Handheld Devices

Real-time Estimate Cboe BZX 09:46:01 2024-05-30 EDT 5-day change 1st Jan Change
191.9 USD +0.83% Intraday chart for Apple Inc. +2.21% -0.79%

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 2,917,922 - -
Enterprise Value (EV) 1 914,310 1,901,251 2,273,221 2,171,938 2,625,726 2,866,971 2,863,048 2,854,247
P/E ratio 18.8 x 35.3 x 25.2 x 22.6 x 27.9 x 28.9 x 26.5 x 23.9 x
Yield 1.34% 0.69% 0.6% 0.65% 0.55% 0.52% 0.54% 0.57%
Capitalization / Revenue 3.89 x 7.22 x 6.39 x 5.63 x 6.98 x 7.54 x 7.1 x 6.66 x
EV / Revenue 3.51 x 6.93 x 6.21 x 5.51 x 6.85 x 7.41 x 6.97 x 6.52 x
EV / EBITDA 12 x 24.6 x 18.9 x 16.6 x 20.9 x 21.8 x 20.7 x 19 x
EV / FCF 15.5 x 25.9 x 24.5 x 19.5 x 26.4 x 26.3 x 24 x 21.9 x
FCF Yield 6.44% 3.86% 4.09% 5.13% 3.79% 3.8% 4.16% 4.56%
Price to Book 11 x 31.5 x 36.8 x 43.5 x 42.8 x 43.9 x 40.1 x 29.7 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 55.99 115.8 141.5 138.2 171.2 190.3 190.3 190.3
Announcement Date 19-10-30 20-10-29 21-10-28 22-10-27 23-11-02 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: September 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 260,174 274,515 365,817 394,328 383,285 386,868 410,767 437,911
EBITDA 1 76,477 77,344 120,233 130,541 125,820 131,755 138,645 150,557
EBIT 1 63,930 66,288 108,949 119,437 114,301 120,429 127,955 137,137
Operating Margin 24.57% 24.15% 29.78% 30.29% 29.82% 31.13% 31.15% 31.32%
Earnings before Tax (EBT) 1 65,737 67,091 109,207 119,103 113,736 120,359 127,644 135,897
Net income 1 55,256 57,411 94,680 99,803 96,995 101,208 107,799 115,434
Net margin 21.24% 20.91% 25.88% 25.31% 25.31% 26.16% 26.24% 26.36%
EPS 2 2.972 3.280 5.610 6.110 6.130 6.578 7.193 7.963
Free Cash Flow 1 58,896 73,365 92,953 111,443 99,584 109,059 119,176 130,053
FCF margin 22.64% 26.73% 25.41% 28.26% 25.98% 28.19% 29.01% 29.7%
FCF Conversion (EBITDA) 77.01% 94.86% 77.31% 85.37% 79.15% 82.77% 85.96% 86.38%
FCF Conversion (Net income) 106.59% 127.79% 98.18% 111.66% 102.67% 107.76% 110.55% 112.66%
Dividend per Share 2 0.7500 0.7950 0.8500 0.9000 0.9400 0.9910 1.037 1.077
Announcement Date 19-10-30 20-10-29 21-10-28 22-10-27 23-11-02 - - -
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 83,677 92,340 124,489 95,979 88,597
EBITDA 1 44,185 32,716 25,881 27,759 38,932 31,216 26,050 29,622 43,221 30,736 27,028 30,736 43,390 31,913 28,263
EBIT 1 41,488 29,979 23,076 24,894 36,016 28,318 22,998 26,969 40,373 27,900 24,252 27,761 41,671 29,695 26,173
Operating Margin 33.47% 30.82% 27.82% 27.62% 30.74% 29.86% 28.12% 30.13% 33.76% 30.74% 28.98% 30.06% 33.47% 30.94% 29.54%
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 24,179 27,695 41,129 29,600 26,120
Net income 1 34,630 25,010 19,442 20,721 29,998 24,160 19,881 22,956 33,916 23,636 20,325 23,313 34,682 24,814 21,936
Net margin 27.94% 25.71% 23.44% 22.99% 25.61% 25.48% 24.31% 25.65% 28.36% 26.04% 24.29% 25.25% 27.86% 25.85% 24.76%
EPS 2 2.100 1.520 1.200 1.290 1.880 1.520 1.260 1.460 2.180 1.530 1.321 1.532 2.312 1.662 1.470
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 22-01-27 22-04-28 22-07-28 22-10-27 23-02-02 23-05-04 23-08-03 23-11-02 24-02-01 24-05-02 - - - - -
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 50,951 54,874 63,675
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 58,896 73,365 92,953 111,443 99,584 109,059 119,176 130,053
ROE (net income / shareholders' equity) 55.9% 73.7% 147% 175% 172% 159% 169% 206%
ROA (Net income/ Total Assets) 15.7% 17.3% 28.1% 28.4% 27.5% 29.4% 30.1% 36.3%
Assets 1 352,119 331,203 337,445 351,879 352,669 343,926 358,309 317,659
Book Value Per Share 2 5.090 3.680 3.840 3.180 4.000 4.330 4.740 6.410
Cash Flow per Share 2 3.730 4.600 6.170 7.480 6.990 8.060 8.730 9.790
Capex 1 10,495 7,309 11,085 10,708 10,959 10,120 10,783 11,275
Capex / Sales 4.03% 2.66% 3.03% 2.72% 2.86% 2.62% 2.63% 2.57%
Announcement Date 19-10-30 20-10-29 21-10-28 22-10-27 23-11-02 - - -
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
190.3 USD
Average target price
205.5 USD
Spread / Average Target
+8.00%
Consensus