APPLE INC (AAPL) Stock Fundamental Analysis

USA • Nasdaq • NASDAQ:AAPL • US0378331005

277.65 USD
+8.17 (+3.03%)
Last: Feb 4, 2026, 09:51 AM
Fundamental Rating

7

We assign a fundamental rating of 7 out of 10 to AAPL. AAPL was compared to 34 industry peers in the Technology Hardware, Storage & Peripherals industry. AAPL scores excellent points on both the profitability and health parts. This is a solid base for a good stock. AAPL is not valued too expensively and it also shows a decent growth rate. With these ratings, AAPL could be worth investigating further for quality investing!.


Dividend Valuation Growth Profitability Health

10

1. Profitability

1.1 Basic Checks

  • In the past year AAPL was profitable.
  • AAPL had a positive operating cash flow in the past year.
  • In the past 5 years AAPL has always been profitable.
  • 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

  • The Return On Assets of AAPL (31.05%) is better than 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 97.06% of the companies in the same industry.
  • 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 16.36%.
  • 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

  • AAPL's Profit Margin of 27.04% is amongst the best of the industry. AAPL outperforms 97.06% 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 85.29% 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. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so AAPL is creating value.
  • AAPL has less shares outstanding than it did 1 year ago.
  • The number of shares outstanding for AAPL has been reduced compared to 5 years ago.
  • Compared to 1 year ago, AAPL has an improved debt to assets ratio.
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.
  • With an excellent Altman-Z score value of 10.56, AAPL belongs to the best of the industry, outperforming 94.12% 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.
  • The Debt to FCF ratio of AAPL (0.73) is better than 88.24% of its industry peers.
  • AAPL has a Debt/Equity ratio of 0.89. This is a neutral value indicating AAPL is somewhat dependend on debt financing.
  • The Debt to Equity ratio of AAPL (0.89) is comparable to the rest of the 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 10.56
ROIC/WACC6.15
WACC8.81%
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 Current ratio of 0.97. This is in the lower half of the industry: AAPL underperforms 70.59% 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.
  • The Quick ratio of AAPL (0.94) 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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5

3. Growth

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.
  • Measured over the past years, AAPL shows a quite strong growth in Earnings Per Share. The EPS has been growing by 18.04% on average per year.
  • AAPL shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 10.07%.
  • AAPL shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 8.68% yearly.
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

  • The Earnings Per Share is expected to grow by 13.24% on average over the next years. This is quite good.
  • Based on estimates for the next years, AAPL will show a small growth in Revenue. The Revenue will grow by 6.85% on average per year.
EPS Next Y15.59%
EPS Next 2Y12.56%
EPS Next 3Y11.64%
EPS Next 5Y13.24%
Revenue Next Year11.56%
Revenue Next 2Y9.01%
Revenue Next 3Y7.79%
Revenue Next 5Y6.85%

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 decreasing.
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. Valuation

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 35.10 indicates a quite expensive valuation of AAPL.
  • Compared to the rest of the industry, the Price/Earnings ratio of AAPL indicates a somewhat cheap valuation: AAPL is cheaper than 67.65% of the companies listed in the same industry.
  • AAPL's Price/Earnings ratio indicates a valuation a bit more expensive than the S&P500 average which is at 28.18.
  • A Price/Forward Earnings ratio of 29.34 indicates a quite expensive valuation of AAPL.
  • AAPL's Price/Forward Earnings ratio is in line with the industry average.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 25.51, AAPL is valued at the same level.
Industry RankSector Rank
PE 35.1
Fwd PE 29.34
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

  • 64.71% of the companies in the same industry are more expensive than AAPL, based on the Enterprise Value to EBITDA ratio.
  • Based on the Price/Free Cash Flow ratio, AAPL is valued a bit cheaper than the industry average as 67.65% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 33.27
EV/EBITDA 26.04
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 AAPL does not grow enough to justify the current Price/Earnings ratio.
  • The excellent profitability rating of AAPL may justify a higher PE ratio.
PEG (NY)2.25
PEG (5Y)1.95
EPS Next 2Y12.56%
EPS Next 3Y11.64%

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5

5. Dividend

5.1 Amount

  • With a yearly dividend of 0.39%, AAPL is not a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 0.67, AAPL pays a bit more dividend than its industry peers.
  • With a Dividend Yield of 0.39, AAPL pays less dividend than the S&P500 average, which is at 1.83.
Industry RankSector Rank
Dividend Yield 0.39%

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.
  • AAPL has decreased its dividend recently.
Dividend Growth(5Y)4.95%
Div Incr Years1
Div Non Decr Years1
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 2Y12.56%
EPS Next 3Y11.64%
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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APPLE INC

NASDAQ:AAPL (2/4/2026, 9:51:10 AM)

277.65

+8.17 (+3.03%)

Chartmill FA Rating
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryTechnology Hardware, Storage & Peripherals
Earnings (Last)01-29
Earnings (Next)04-29
Inst Owners64.27%
Inst Owner Change-2.49%
Ins Owners0.06%
Ins Owner Change-0.72%
Market Cap4.10T
Revenue(TTM)435.62B
Net Income(TTM)117.78B
Analysts77.74
Price Target295.02 (6.26%)
Short Float %0.78%
Short Ratio2.42
Dividend
Industry RankSector Rank
Dividend Yield 0.39%
Yearly Dividend1.03
Dividend Growth(5Y)4.95%
DP13.15%
Div Incr Years1
Div Non Decr Years1
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)0.04%
PT rev (3m)11.42%
EPS NQ rev (1m)0.26%
EPS NQ rev (3m)1.8%
EPS NY rev (1m)0.04%
EPS NY rev (3m)3.12%
Revenue NQ rev (1m)0.18%
Revenue NQ rev (3m)2.98%
Revenue NY rev (1m)0.09%
Revenue NY rev (3m)3.05%
Valuation
Industry RankSector Rank
PE 35.1
Fwd PE 29.34
P/S 9.42
P/FCF 33.27
P/OCF 30.28
P/B 46.52
P/tB 46.52
EV/EBITDA 26.04
EPS(TTM)7.91
EY2.85%
EPS(NY)9.46
Fwd EY3.41%
FCF(TTM)8.35
FCFY3.01%
OCF(TTM)9.17
OCFY3.3%
SpS29.48
BVpS5.97
TBVpS5.97
PEG (NY)2.25
PEG (5Y)1.95
Graham Number32.59
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
WACC8.81%
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 Y15.59%
EPS Next 2Y12.56%
EPS Next 3Y11.64%
EPS Next 5Y13.24%
Revenue 1Y (TTM)10.07%
Revenue growth 3Y1.81%
Revenue growth 5Y8.68%
Sales Q2Q%15.65%
Revenue Next Year11.56%
Revenue Next 2Y9.01%
Revenue Next 3Y7.79%
Revenue Next 5Y6.85%
EBIT growth 1Y12.25%
EBIT growth 3Y3.66%
EBIT growth 5Y14.95%
EBIT Next Year19.09%
EBIT Next 3Y11.52%
EBIT Next 5Y10.17%
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 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.


Can you provide the profitability details for APPLE INC?

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


What is the expected EPS growth for APPLE INC (AAPL) stock?

The Earnings per Share (EPS) of APPLE INC (AAPL) is expected to grow by 15.59% in the next year.


How sustainable is the dividend of APPLE INC (AAPL) stock?

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