APPLE INC (AAPL) Fundamental Analysis & Valuation

NASDAQ:AAPL • US0378331005

Current stock price

271.06 USD
-2.37 (-0.87%)
At close:
267.046 USD
-4.01 (-1.48%)
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.
  • AAPL had positive earnings in each of the past 5 years.
  • Each year in the past 5 years AAPL had a positive operating cash flow.
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's Return On Assets of 31.05% is amongst the best of the industry. AAPL outperforms 100.00% of its industry peers.
  • AAPL's Return On Equity of 133.55% is amongst the best of the industry. AAPL outperforms 97.30% of its industry peers.
  • AAPL has a better Return On Invested Capital (54.20%) than 100.00% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for AAPL is significantly above the industry average of 15.09%.
  • The 3 year average ROIC (50.93%) for AAPL is below the current ROIC(54.20%), indicating increased profibility in the last year.
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

  • AAPL's Profit Margin of 27.04% is amongst the best of the industry. AAPL outperforms 97.30% of its industry peers.
  • In the last couple of years the Profit Margin of AAPL has grown nicely.
  • With an excellent Operating Margin value of 32.38%, AAPL belongs to the best of the industry, outperforming 100.00% of the companies in the same industry.
  • AAPL's Operating Margin has improved in the last couple of years.
  • AAPL has a better Gross Margin (47.33%) than 83.78% 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.
  • Compared to 1 year ago, AAPL has less shares outstanding
  • 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 10.56 indicates that AAPL is not in any danger for bankruptcy at the moment.
  • AAPL's Altman-Z score of 10.56 is amongst the best of the industry. AAPL outperforms 89.19% of its industry peers.
  • AAPL has a debt to FCF ratio of 0.73. This is a very positive value and a sign of high solvency as it would only need 0.73 years to pay back of 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.
  • AAPL has a Debt/Equity ratio of 0.89. This is a neutral value indicating AAPL is somewhat dependend on debt financing.
  • AAPL has a Debt to Equity ratio of 0.89. This is in the lower half of the industry: AAPL underperforms 62.16% of its industry peers.
  • Although AAPL's pure debt/equity ratio does not look good, it has limited outstanding debt compared to the Free Cash Flow. We will not put too much weight on the debt/equity number as it may be because of low equity, which could be a consequence of a share buyback program for instance. This needs to be investigated.
Industry RankSector Rank
Debt/Equity 0.89
Debt/FCF 0.73
Altman-Z 10.56
ROIC/WACC6.14
WACC8.83%
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

  • AAPL has a Current 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.
  • AAPL has a Current ratio of 0.97. This is in the lower half of the industry: AAPL underperforms 75.68% of its industry peers.
  • A Quick Ratio of 0.94 indicates that AAPL may have some problems paying its short term obligations.
  • AAPL has a Quick ratio (0.94) which is comparable to the rest of the 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.
  • AAPL shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 18.04% yearly.
  • 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 13.96% on average per year.
  • The Revenue is expected to grow by 8.64% on average over the next years. This is quite good.
EPS Next Y16.22%
EPS Next 2Y13.03%
EPS Next 3Y12.05%
EPS Next 5Y13.96%
Revenue Next Year12.22%
Revenue Next 2Y9.58%
Revenue Next 3Y8.46%
Revenue Next 5Y8.64%

3.3 Evolution

  • Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
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

  • AAPL is valuated quite expensively with a Price/Earnings ratio of 34.27.
  • Compared to the rest of the industry, the Price/Earnings ratio of AAPL indicates a somewhat cheap valuation: AAPL is cheaper than 67.57% of the companies listed in the same industry.
  • AAPL is valuated rather expensively when we compare the Price/Earnings ratio to 27.42, which is the current average of the S&P500 Index.
  • A Price/Forward Earnings ratio of 28.40 indicates a quite expensive valuation of AAPL.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of AAPL is on the same level as its industry peers.
  • AAPL's Price/Forward Earnings ratio indicates a valuation a bit more expensive than the S&P500 average which is at 22.29.
Industry RankSector Rank
PE 34.27
Fwd PE 28.4
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

  • AAPL's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. AAPL is cheaper than 64.86% of the companies in the same industry.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of AAPL indicates a somewhat cheap valuation: AAPL is cheaper than 64.86% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 32.27
EV/EBITDA 26.03
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.
  • AAPL has an outstanding profitability rating, which 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)2.11
PEG (5Y)1.9
EPS Next 2Y13.03%
EPS Next 3Y12.05%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

5

5. AAPL Dividend Analysis

5.1 Amount

  • AAPL has a yearly dividend return of 0.38%, which is pretty low.
  • AAPL's Dividend Yield is a higher than the industry average which is at 0.70.
  • With a Dividend Yield of 0.38, AAPL pays less dividend than the S&P500 average, which is at 1.81.
Industry RankSector Rank
Dividend Yield 0.38%

5.2 History

  • The dividend of AAPL has a limited annual growth rate of 4.95%.
  • AAPL has been paying a dividend for at least 10 years, so it has 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

  • AAPL pays out 13.15% of its income as dividend. This is a sustainable payout ratio.
  • AAPL's earnings are growing more than its dividend. This makes the dividend growth 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 (4/24/2026, 8:19:46 PM)

Premarket: 267.046 -4.01 (-1.48%)

271.06

-2.37 (-0.87%)

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-0.19%
Ins Owners0.06%
Ins Owner Change0.64%
Market Cap3.98T
Revenue(TTM)435.62B
Net Income(TTM)117.78B
Analysts78.15
Price Target297.99 (9.94%)
Short Float %0.88%
Short Ratio2.78
Dividend
Industry RankSector Rank
Dividend Yield 0.38%
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)0.67%
PT rev (3m)2.3%
EPS NQ rev (1m)-0.14%
EPS NQ rev (3m)5.58%
EPS NY rev (1m)0.01%
EPS NY rev (3m)3.09%
Revenue NQ rev (1m)-0.02%
Revenue NQ rev (3m)4.33%
Revenue NY rev (1m)0.03%
Revenue NY rev (3m)2.9%
Valuation
Industry RankSector Rank
PE 34.27
Fwd PE 28.4
P/S 9.14
P/FCF 32.27
P/OCF 29.37
P/B 45.12
P/tB 45.12
EV/EBITDA 26.03
EPS(TTM)7.91
EY2.92%
EPS(NY)9.54
Fwd EY3.52%
FCF(TTM)8.4
FCFY3.1%
OCF(TTM)9.23
OCFY3.4%
SpS29.67
BVpS6.01
TBVpS6.01
PEG (NY)2.11
PEG (5Y)1.9
Graham Number32.6971 (-87.94%)
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 10.56
F-Score8
WACC8.83%
ROIC/WACC6.14
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 5Y13.96%
Revenue 1Y (TTM)10.07%
Revenue growth 3Y1.81%
Revenue growth 5Y8.68%
Sales Q2Q%15.65%
Revenue Next Year12.22%
Revenue Next 2Y9.58%
Revenue Next 3Y8.46%
Revenue Next 5Y8.64%
EBIT growth 1Y12.25%
EBIT growth 3Y3.66%
EBIT growth 5Y14.95%
EBIT Next Year22.98%
EBIT Next 3Y12.31%
EBIT Next 5Y11.25%
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%.