APPLE INC (AAPL) Fundamental Analysis & Valuation

NASDAQ:AAPL • US0378331005

Current stock price

260.48 USD
-0.01 (0%)
At close:
259.17 USD
-1.31 (-0.5%)
Pre-Market:

This AAPL fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

10

1. AAPL Profitability Analysis

1.1 Basic Checks

  • AAPL had positive earnings in the past year.
  • AAPL had a positive operating cash flow in the past year.
  • In the past 5 years AAPL has always been profitable.
  • AAPL had a positive operating cash flow in each of the past 5 years.
AAPL Yearly Net Income VS EBIT VS OCF VS FCFAAPL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20B 40B 60B 80B 100B

1.2 Ratios

  • AAPL has a Return On Assets of 31.05%. This is amongst the best in the industry. AAPL outperforms 100.00% of its industry peers.
  • Looking at the Return On Equity, with a value of 133.55%, AAPL belongs to the top of the industry, outperforming 97.30% of the companies in the same industry.
  • AAPL has a better Return On Invested Capital (54.20%) than 100.00% of its industry peers.
  • AAPL had an Average Return On Invested Capital over the past 3 years of 50.93%. This is significantly above the industry average of 15.19%.
  • The last Return On Invested Capital (54.20%) for AAPL is above the 3 year average (50.93%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 31.05%
ROE 133.55%
ROIC 54.2%
ROA(3y)28.12%
ROA(5y)27.93%
ROE(3y)157.53%
ROE(5y)163.92%
ROIC(3y)50.93%
ROIC(5y)48.1%
AAPL Yearly ROA, ROE, ROICAAPL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50 100 150

1.3 Margins

  • The Profit Margin of AAPL (27.04%) is better than 97.30% of its industry peers.
  • In the last couple of years the Profit Margin of AAPL has grown nicely.
  • AAPL has a better Operating Margin (32.38%) than 100.00% of its industry peers.
  • AAPL's Operating Margin has improved in the last couple of years.
  • AAPL has a better Gross Margin (47.33%) than 86.49% of its industry peers.
  • In the last couple of years the Gross Margin of AAPL has grown nicely.
Industry RankSector Rank
OM 32.38%
PM (TTM) 27.04%
GM 47.33%
OM growth 3Y1.82%
OM growth 5Y5.77%
PM growth 3Y2.07%
PM growth 5Y5.18%
GM growth 3Y2.69%
GM growth 5Y4.17%
AAPL Yearly Profit, Operating, Gross MarginsAAPL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30 40

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8

2. AAPL Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), AAPL is creating value.
  • AAPL has less shares outstanding than it did 1 year ago.
  • AAPL has less shares outstanding than it did 5 years ago.
  • AAPL has a better debt/assets ratio than last year.
AAPL Yearly Shares OutstandingAAPL Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B 20B
AAPL Yearly Total Debt VS Total AssetsAAPL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100B 200B 300B

2.2 Solvency

  • An Altman-Z score of 10.24 indicates that AAPL is not in any danger for bankruptcy at the moment.
  • With an excellent Altman-Z score value of 10.24, AAPL belongs to the best of the industry, outperforming 89.19% of the companies in the same industry.
  • The Debt to FCF ratio of AAPL is 0.73, which is an excellent value as it means it would take AAPL, only 0.73 years of fcf income to pay off all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 0.73, AAPL belongs to the top of the industry, outperforming 86.49% of the companies in the same industry.
  • A Debt/Equity ratio of 0.89 indicates that AAPL is somewhat dependend on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 0.89, AAPL is doing worse than 64.86% of the companies in the same industry.
  • Even though the debt/equity ratio score it not favorable for AAPL, it has very limited outstanding debt, so we won't put too much weight on the DE evaluation.
Industry RankSector Rank
Debt/Equity 0.89
Debt/FCF 0.73
Altman-Z 10.24
ROIC/WACC6.15
WACC8.82%
AAPL Yearly LT Debt VS Equity VS FCFAAPL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20B 40B 60B 80B 100B

2.3 Liquidity

  • A Current Ratio of 0.97 indicates that AAPL may have some problems paying its short term obligations.
  • AAPL has a worse Current ratio (0.97) than 75.68% of its industry peers.
  • AAPL has a Quick Ratio of 0.97. This is a bad value and indicates that AAPL is not financially healthy enough and could expect problems in meeting its short term obligations.
  • With a Quick ratio value of 0.94, AAPL perfoms like the industry average, outperforming 45.95% of the companies in the same industry.
  • The current and quick ratio evaluation for AAPL is rather negative, while it does have excellent solvency and profitability. These ratios do not necessarly indicate liquidity issues and need to be evaluated against the specifics of the business.
Industry RankSector Rank
Current Ratio 0.97
Quick Ratio 0.94
AAPL Yearly Current Assets VS Current LiabilitesAAPL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50B 100B 150B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

6

3. AAPL Growth Analysis

3.1 Past

  • AAPL shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 13.49%, which is quite good.
  • The Earnings Per Share has been growing by 18.04% on average over the past years. This is quite good.
  • The Revenue has grown by 10.07% in the past year. This is quite good.
  • Measured over the past years, AAPL shows a quite strong growth in Revenue. The Revenue has been growing by 8.68% on average per year.
EPS 1Y (TTM)13.49%
EPS 3Y6.93%
EPS 5Y18.04%
EPS Q2Q%18.33%
Revenue 1Y (TTM)10.07%
Revenue growth 3Y1.81%
Revenue growth 5Y8.68%
Sales Q2Q%15.65%

3.2 Future

  • Based on estimates for the next years, AAPL will show a quite strong growth in Earnings Per Share. The EPS will grow by 14.30% on average per year.
  • Based on estimates for the next years, AAPL will show a small growth in Revenue. The Revenue will grow by 7.46% on average per year.
EPS Next Y16.22%
EPS Next 2Y13.03%
EPS Next 3Y12.05%
EPS Next 5Y14.3%
Revenue Next Year12.1%
Revenue Next 2Y9.49%
Revenue Next 3Y8.28%
Revenue Next 5Y7.46%

3.3 Evolution

  • The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
  • The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
AAPL Yearly Revenue VS EstimatesAAPL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 200B 400B 600B
AAPL Yearly EPS VS EstimatesAAPL Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 5 10 15

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4

4. AAPL Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 32.93, AAPL can be considered very expensive at the moment.
  • 62.16% of the companies in the same industry are more expensive than AAPL, based on the Price/Earnings ratio.
  • Compared to an average S&P500 Price/Earnings ratio of 26.86, AAPL is valued a bit more expensive.
  • Based on the Price/Forward Earnings ratio of 27.29, the valuation of AAPL can be described as expensive.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of AAPL is on the same level as its industry peers.
  • The average S&P500 Price/Forward Earnings ratio is at 37.39. AAPL is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 32.93
Fwd PE 27.29
AAPL Price Earnings VS Forward Price EarningsAAPL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, AAPL is valued a bit cheaper than 64.86% of the companies in the same industry.
  • Based on the Price/Free Cash Flow ratio, AAPL is valued a bit cheaper than 64.86% of the companies in the same industry.
Industry RankSector Rank
P/FCF 31.01
EV/EBITDA 25.01
AAPL Per share dataAAPL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20 25

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
  • The excellent profitability rating of AAPL may justify a higher PE ratio.
  • AAPL's earnings are expected to grow with 12.05% in the coming years. This may justify a more expensive valuation.
PEG (NY)2.03
PEG (5Y)1.83
EPS Next 2Y13.03%
EPS Next 3Y12.05%

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5

5. AAPL Dividend Analysis

5.1 Amount

  • With a yearly dividend of 0.40%, AAPL is not a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 0.75, AAPL pays a bit more dividend than its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.82, AAPL's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.4%

5.2 History

  • The dividend of AAPL has a limited annual growth rate of 4.95%.
  • AAPL has paid a dividend for at least 10 years, which is a reliable track record.
  • The dividend of AAPL decreased in the last 3 years.
Dividend Growth(5Y)4.95%
Div Incr Years2
Div Non Decr Years2
AAPL Yearly Dividends per shareAAPL Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.2 0.4 0.6 0.8 1

5.3 Sustainability

  • 13.15% of the earnings are spent on dividend by AAPL. This is a low number and sustainable payout ratio.
  • The dividend of AAPL is growing, but earnings are growing more, so the dividend growth is sustainable.
DP13.15%
EPS Next 2Y13.03%
EPS Next 3Y12.05%
AAPL Yearly Income VS Free CF VS DividendAAPL Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20B 40B 60B 80B 100B
AAPL Dividend Payout.AAPL Dividend Payout, showing the Payout Ratio.AAPL Dividend Payout.PayoutRetained Earnings

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AAPL Fundamentals: All Metrics, Ratios and Statistics

APPLE INC

NASDAQ:AAPL (4/10/2026, 8:04:42 PM)

Premarket: 259.17 -1.31 (-0.5%)

260.48

-0.01 (0%)

Chartmill FA Rating
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryTechnology Hardware, Storage & Peripherals
Earnings (Last)01-29
Earnings (Next)04-30
Inst Owners65.11%
Inst Owner Change-0.05%
Ins Owners0.06%
Ins Owner Change0.64%
Market Cap3.82T
Revenue(TTM)435.62B
Net Income(TTM)117.78B
Analysts78.15
Price Target297.19 (14.09%)
Short Float %0.86%
Short Ratio2.55
Dividend
Industry RankSector Rank
Dividend Yield 0.4%
Yearly Dividend1.03
Dividend Growth(5Y)4.95%
DP13.15%
Div Incr Years2
Div Non Decr Years2
Ex-Date02-09
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)3.27%
Min EPS beat(2)2.35%
Max EPS beat(2)4.19%
EPS beat(4)3
Avg EPS beat(4)3.33%
Min EPS beat(4)-0.58%
Max EPS beat(4)7.34%
EPS beat(8)6
Avg EPS beat(8)1.97%
EPS beat(12)10
Avg EPS beat(12)2.32%
EPS beat(16)12
Avg EPS beat(16)1.76%
Revenue beat(2)1
Avg Revenue beat(2)0.01%
Min Revenue beat(2)-1.76%
Max Revenue beat(2)1.77%
Revenue beat(4)2
Avg Revenue beat(4)0.43%
Min Revenue beat(4)-1.76%
Max Revenue beat(4)2.97%
Revenue beat(8)2
Avg Revenue beat(8)-0.42%
Revenue beat(12)2
Avg Revenue beat(12)-0.62%
Revenue beat(16)3
Avg Revenue beat(16)-0.85%
PT rev (1m)0.41%
PT rev (3m)2.06%
EPS NQ rev (1m)0.06%
EPS NQ rev (3m)6.05%
EPS NY rev (1m)0.01%
EPS NY rev (3m)3.13%
Revenue NQ rev (1m)0.06%
Revenue NQ rev (3m)4.57%
Revenue NY rev (1m)-0.06%
Revenue NY rev (3m)2.88%
Valuation
Industry RankSector Rank
PE 32.93
Fwd PE 27.29
P/S 8.78
P/FCF 31.01
P/OCF 28.23
P/B 43.36
P/tB 43.36
EV/EBITDA 25.01
EPS(TTM)7.91
EY3.04%
EPS(NY)9.54
Fwd EY3.66%
FCF(TTM)8.4
FCFY3.22%
OCF(TTM)9.23
OCFY3.54%
SpS29.67
BVpS6.01
TBVpS6.01
PEG (NY)2.03
PEG (5Y)1.83
Graham Number32.7
Profitability
Industry RankSector Rank
ROA 31.05%
ROE 133.55%
ROCE 65.03%
ROIC 54.2%
ROICexc 78.06%
ROICexgc 78.06%
OM 32.38%
PM (TTM) 27.04%
GM 47.33%
FCFM 28.31%
ROA(3y)28.12%
ROA(5y)27.93%
ROE(3y)157.53%
ROE(5y)163.92%
ROIC(3y)50.93%
ROIC(5y)48.1%
ROICexc(3y)72.42%
ROICexc(5y)66.83%
ROICexgc(3y)72.42%
ROICexgc(5y)66.83%
ROCE(3y)63.07%
ROCE(5y)59.52%
ROICexgc growth 3Y6.76%
ROICexgc growth 5Y12.61%
ROICexc growth 3Y6.76%
ROICexc growth 5Y12.61%
OM growth 3Y1.82%
OM growth 5Y5.77%
PM growth 3Y2.07%
PM growth 5Y5.18%
GM growth 3Y2.69%
GM growth 5Y4.17%
F-Score8
Asset Turnover1.15
Health
Industry RankSector Rank
Debt/Equity 0.89
Debt/FCF 0.73
Debt/EBITDA 0.51
Cap/Depr 102.67%
Cap/Sales 2.79%
Interest Coverage 250
Cash Conversion 88.6%
Profit Quality 104.71%
Current Ratio 0.97
Quick Ratio 0.94
Altman-Z 10.24
F-Score8
WACC8.82%
ROIC/WACC6.15
Cap/Depr(3y)95.46%
Cap/Depr(5y)96.21%
Cap/Sales(3y)2.78%
Cap/Sales(5y)2.82%
Profit Quality(3y)102.31%
Profit Quality(5y)103.35%
High Growth Momentum
Growth
EPS 1Y (TTM)13.49%
EPS 3Y6.93%
EPS 5Y18.04%
EPS Q2Q%18.33%
EPS Next Y16.22%
EPS Next 2Y13.03%
EPS Next 3Y12.05%
EPS Next 5Y14.3%
Revenue 1Y (TTM)10.07%
Revenue growth 3Y1.81%
Revenue growth 5Y8.68%
Sales Q2Q%15.65%
Revenue Next Year12.1%
Revenue Next 2Y9.49%
Revenue Next 3Y8.28%
Revenue Next 5Y7.46%
EBIT growth 1Y12.25%
EBIT growth 3Y3.66%
EBIT growth 5Y14.95%
EBIT Next Year22.98%
EBIT Next 3Y12.31%
EBIT Next 5Y10.87%
FCF growth 1Y15.4%
FCF growth 3Y-3.95%
FCF growth 5Y6.13%
OCF growth 1Y16.35%
OCF growth 3Y-3%
OCF growth 5Y6.68%

APPLE INC / AAPL Fundamental Analysis FAQ

What is the ChartMill fundamental rating of APPLE INC (AAPL) stock?

ChartMill assigns a fundamental rating of 7 / 10 to AAPL.


Can you provide the valuation status for APPLE INC?

ChartMill assigns a valuation rating of 4 / 10 to APPLE INC (AAPL). This can be considered as Fairly Valued.


What is the profitability of AAPL stock?

APPLE INC (AAPL) has a profitability rating of 10 / 10.


How financially healthy is APPLE INC?

The financial health rating of APPLE INC (AAPL) is 8 / 10.


Can you provide the dividend sustainability for AAPL stock?

The dividend rating of APPLE INC (AAPL) is 5 / 10 and the dividend payout ratio is 13.15%.