APPLE INC (APC.DE) Stock Fundamental Analysis
FRA:APC - Deutsche Boerse Ag - US0378331005 - Common Stock - Currency: EUR
Overall APC gets a fundamental rating of 6 out of 10. We evaluated APC against 30 industry peers in the Technology Hardware, Storage & Peripherals industry. APC gets an excellent profitability rating and is at the same time showing great financial health properties. APC is valied quite expensively at the moment, while it does show a decent growth rate. These ratings would make APC suitable for quality investing!
1. Profitability
1.1 Basic Checks
APC had positive earnings in the past year.
In the past year APC had a positive cash flow from operations.
In the past 5 years APC has always been profitable.
Each year in the past 5 years APC had a positive operating cash flow.
1.2 Ratios
APC's Return On Assets of 25.68% is amongst the best of the industry. APC outperforms 96.30% of its industry peers.
APC's Return On Equity of 164.59% is amongst the best of the industry. APC outperforms 100.00% of its industry peers.
Looking at the Return On Invested Capital, with a value of 52.59%, APC belongs to the top of the industry, outperforming 96.30% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for APC is significantly above the industry average of 16.47%.
The last Return On Invested Capital (52.59%) for APC is above the 3 year average (48.83%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 25.68% | ||
| ROE | 164.59% | ||
| ROIC | 52.59% |
ROA(3y)27.16%
ROA(5y)25.24%
ROE(3y)172.54%
ROE(5y)151.11%
ROIC(3y)48.83%
ROIC(5y)42.3%
1.3 Margins
Looking at the Profit Margin, with a value of 23.97%, APC belongs to the top of the industry, outperforming 96.30% of the companies in the same industry.
In the last couple of years the Profit Margin of APC has grown nicely.
Looking at the Operating Margin, with a value of 31.51%, APC belongs to the top of the industry, outperforming 96.30% of the companies in the same industry.
In the last couple of years the Operating Margin of APC has grown nicely.
APC's Gross Margin of 46.21% is fine compared to the rest of the industry. APC outperforms 77.78% of its industry peers.
APC's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 31.51% | ||
| PM (TTM) | 23.97% | ||
| GM | 46.21% |
OM growth 3Y1.9%
OM growth 5Y5.1%
PM growth 3Y-2.52%
PM growth 5Y2.45%
GM growth 3Y3.41%
GM growth 5Y4.09%
2. Health
2.1 Basic Checks
APC has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
The number of shares outstanding for APC has been reduced compared to 1 year ago.
APC has less shares outstanding than it did 5 years ago.
Compared to 1 year ago, APC has an improved debt to assets ratio.
2.2 Solvency
An Altman-Z score of 8.81 indicates that APC is not in any danger for bankruptcy at the moment.
APC has a Altman-Z score of 8.81. This is amongst the best in the industry. APC outperforms 92.59% of its industry peers.
The Debt to FCF ratio of APC is 0.98, which is an excellent value as it means it would take APC, only 0.98 years of fcf income to pay off all of its debts.
With an excellent Debt to FCF ratio value of 0.98, APC belongs to the best of the industry, outperforming 88.89% of the companies in the same industry.
APC has a Debt/Equity ratio of 1.68. This is a high value indicating a heavy dependency on external financing.
APC has a Debt to Equity ratio of 1.68. This is in the lower half of the industry: APC underperforms 74.07% of its industry peers.
Although APC does not score too well on debt/equity it has very limited outstanding debt, which is well covered by the FCF. 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 Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.68 | ||
| Debt/FCF | 0.98 | ||
| Altman-Z | 8.81 |
ROIC/WACC4.74
WACC11.1%
2.3 Liquidity
APC has a Current Ratio of 0.87. This is a bad value and indicates that APC is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Current ratio, with a value of 0.87, APC is doing worse than 77.78% of the companies in the same industry.
APC has a Quick Ratio of 0.87. This is a bad value and indicates that APC is not financially healthy enough and could expect problems in meeting its short term obligations.
APC's Quick ratio of 0.83 is on the low side compared to the rest of the industry. APC is outperformed by 74.07% of its industry peers.
APC does not score too well on the current and quick ratio evaluation. However, as it has excellent solvency and profitability, these ratios do not necessarly indicate liquidity issues and need to be evaluated against the specifics of the business.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.87 | ||
| Quick Ratio | 0.83 |
3. Growth
3.1 Past
APC shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 8.57%, which is quite good.
APC shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 17.90% yearly.
Looking at the last year, APC shows a small growth in Revenue. The Revenue has grown by 2.61% in the last year.
The Revenue has been growing by 8.49% on average over the past years. This is quite good.
EPS 1Y (TTM)8.57%
EPS 3Y6.3%
EPS 5Y17.9%
EPS Q2Q%10.09%
Revenue 1Y (TTM)2.61%
Revenue growth 3Y2.25%
Revenue growth 5Y8.49%
Sales Q2Q%3.95%
3.2 Future
The Earnings Per Share is expected to grow by 16.00% on average over the next years. This is quite good.
Based on estimates for the next years, APC will show a small growth in Revenue. The Revenue will grow by 7.46% on average per year.
EPS Next Y11.26%
EPS Next 2Y11.65%
EPS Next 3Y11.41%
EPS Next 5Y16%
Revenue Next Year6.03%
Revenue Next 2Y6.95%
Revenue Next 3Y6.84%
Revenue Next 5Y7.46%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
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.
4. Valuation
4.1 Price/Earnings Ratio
APC is valuated quite expensively with a Price/Earnings ratio of 32.26.
APC's Price/Earnings is on the same level as the industry average.
APC is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 28.47, which is the current average of the S&P500 Index.
The Price/Forward Earnings ratio is 26.71, which means the current valuation is very expensive for APC.
70.37% of the companies in the same industry are cheaper than APC, based on the Price/Forward Earnings ratio.
APC's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 92.74.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 32.26 | ||
| Fwd PE | 26.71 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, APC is valued a bit more expensive than the industry average as 70.37% of the companies are valued more cheaply.
APC's Price/Free Cash Flow is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 31.22 | ||
| EV/EBITDA | 25.82 |
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 APC may justify a higher PE ratio.
PEG (NY)2.87
PEG (5Y)1.8
EPS Next 2Y11.65%
EPS Next 3Y11.41%
5. Dividend
5.1 Amount
APC has a yearly dividend return of 0.42%, which is pretty low.
APC's Dividend Yield is a higher than the industry average which is at 2.05.
Compared to an average S&P500 Dividend Yield of 2.28, APC's dividend is way lower than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.42% |
5.2 History
The dividend of APC has a limited annual growth rate of 5.30%.
Dividend Growth(5Y)5.3%
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
APC pays out 16.25% of its income as dividend. This is a sustainable payout ratio.
The dividend of APC is growing, but earnings are growing more, so the dividend growth is sustainable.
DP16.25%
EPS Next 2Y11.65%
EPS Next 3Y11.41%
APPLE INC
FRA:APC (2/5/2025, 11:35:03 AM)
217.45
-5.35 (-2.4%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryTechnology Hardware, Storage & Peripherals
Earnings (Last)
Earnings (Next)
Inst Owners60.98%
Inst Owner ChangeN/A
Ins Owners0.06%
Ins Owner ChangeN/A
Market Cap3286.94B
Analysts78.91
Price Target235.34 (8.23%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.42% |
Yearly Dividend0.99
Dividend Growth(5Y)5.3%
DP16.25%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)1.15%
Min EPS beat(2)0.35%
Max EPS beat(2)1.95%
EPS beat(4)3
Avg EPS beat(4)1.03%
Min EPS beat(4)-0.02%
Max EPS beat(4)1.95%
EPS beat(8)6
Avg EPS beat(8)1.2%
EPS beat(12)9
Avg EPS beat(12)1.98%
EPS beat(16)12
Avg EPS beat(16)6.53%
Revenue beat(2)0
Avg Revenue beat(2)-1.06%
Min Revenue beat(2)-1.6%
Max Revenue beat(2)-0.52%
Revenue beat(4)0
Avg Revenue beat(4)-0.96%
Min Revenue beat(4)-1.6%
Max Revenue beat(4)-0.52%
Revenue beat(8)0
Avg Revenue beat(8)-1.57%
Revenue beat(12)2
Avg Revenue beat(12)-0.92%
Revenue beat(16)5
Avg Revenue beat(16)0.85%
PT rev (1m)-0.38%
PT rev (3m)4.13%
EPS NQ rev (1m)-0.44%
EPS NQ rev (3m)1.12%
EPS NY rev (1m)-0.43%
EPS NY rev (3m)-1.26%
Revenue NQ rev (1m)-0.41%
Revenue NQ rev (3m)-2.24%
Revenue NY rev (1m)-0.09%
Revenue NY rev (3m)-1.47%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 32.26 | ||
| Fwd PE | 26.71 | ||
| P/S | 8.69 | ||
| P/FCF | 31.22 | ||
| P/OCF | 28.73 | ||
| P/B | 59.65 | ||
| P/tB | 59.65 | ||
| EV/EBITDA | 25.82 |
EPS(TTM)6.74
EY3.1%
EPS(NY)8.14
Fwd EY3.74%
FCF(TTM)6.96
FCFY3.2%
OCF(TTM)7.57
OCFY3.48%
SpS25.03
BVpS3.65
TBVpS3.65
PEG (NY)2.87
PEG (5Y)1.8
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 25.68% | ||
| ROE | 164.59% | ||
| ROCE | 65.34% | ||
| ROIC | 52.59% | ||
| ROICexc | 78.28% | ||
| ROICexgc | 78.28% | ||
| OM | 31.51% | ||
| PM (TTM) | 23.97% | ||
| GM | 46.21% | ||
| FCFM | 27.83% |
ROA(3y)27.16%
ROA(5y)25.24%
ROE(3y)172.54%
ROE(5y)151.11%
ROIC(3y)48.83%
ROIC(5y)42.3%
ROICexc(3y)68.4%
ROICexc(5y)60.45%
ROICexgc(3y)68.4%
ROICexgc(5y)60.45%
ROCE(3y)60.19%
ROCE(5y)51.84%
ROICexcg growth 3Y12.71%
ROICexcg growth 5Y14.84%
ROICexc growth 3Y12.71%
ROICexc growth 5Y14.84%
OM growth 3Y1.9%
OM growth 5Y5.1%
PM growth 3Y-2.52%
PM growth 5Y2.45%
GM growth 3Y3.41%
GM growth 5Y4.09%
F-Score6
Asset Turnover1.07
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.68 | ||
| Debt/FCF | 0.98 | ||
| Debt/EBITDA | 0.71 | ||
| Cap/Depr | 82.54% | ||
| Cap/Sales | 2.42% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 87.82% | ||
| Profit Quality | 116.08% | ||
| Current Ratio | 0.87 | ||
| Quick Ratio | 0.83 | ||
| Altman-Z | 8.81 |
F-Score6
WACC11.1%
ROIC/WACC4.74
Cap/Depr(3y)91.37%
Cap/Depr(5y)87.69%
Cap/Sales(3y)2.66%
Cap/Sales(5y)2.74%
Profit Quality(3y)110.14%
Profit Quality(5y)111.28%
High Growth Momentum
Growth
EPS 1Y (TTM)8.57%
EPS 3Y6.3%
EPS 5Y17.9%
EPS Q2Q%10.09%
EPS Next Y11.26%
EPS Next 2Y11.65%
EPS Next 3Y11.41%
EPS Next 5Y16%
Revenue 1Y (TTM)2.61%
Revenue growth 3Y2.25%
Revenue growth 5Y8.49%
Sales Q2Q%3.95%
Revenue Next Year6.03%
Revenue Next 2Y6.95%
Revenue Next 3Y6.84%
Revenue Next 5Y7.46%
EBIT growth 1Y7.8%
EBIT growth 3Y4.19%
EBIT growth 5Y14.02%
EBIT Next Year17.98%
EBIT Next 3Y12.23%
EBIT Next 5Y12.07%
FCF growth 1Y9.26%
FCF growth 3Y5.39%
FCF growth 5Y13.06%
OCF growth 1Y6.98%
OCF growth 3Y4.36%
OCF growth 5Y11.25%