Company Valuation: Apple Inc.

Data adjusted to current consolidation scope
Fiscal Period: September 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,402,990 2,438,897 2,664,542 3,463,350 3,791,126 4,411,091 - -
Change - 1.49% 9.25% 29.98% 9.46% 16.35% - -
Enterprise Value (EV) 1 2,337,193 2,389,857 2,613,531 3,413,329 3,757,363 4,343,489 4,304,578 4,272,106
Change - 2.25% 9.36% 30.6% 10.08% 15.6% -0.9% -0.75%
P/E 25.9x 24.8x 27.8x 37.5x 34.2x 34.3x 31.7x 28.2x
PBR 37.9x 47.8x 42.6x 60.5x 51.2x 43.8x 31.3x 20x
PEG - 2.78x 84.93x -45.98x 1.5x 1.9x 3.81x 2.3x
Capitalization / Revenue 6.57x 6.18x 6.95x 8.86x 9.11x 9.24x 8.43x 7.82x
EV / Revenue 6.39x 6.06x 6.82x 8.73x 9.03x 9.09x 8.23x 7.57x
EV / EBITDA 19.4x 18.3x 20.8x 25.3x 26x 25.7x 24.1x 21.8x
EV / EBIT 21.5x 20x 22.9x 27.7x 28.2x 27.9x 26.1x 23.2x
EV / FCF 25.1x 21.4x 26.2x 31.4x 38x 30.1x 28.4x 25.5x
FCF Yield 3.98% 4.66% 3.81% 3.19% 2.63% 3.33% 3.52% 3.92%
Dividend per Share 2 0.85 0.9 0.94 0.98 1.02 1.07 1.114 1.162
Rate of return 0.58% 0.59% 0.55% 0.43% 0.4% 0.35% 0.37% 0.38%
EPS 2 5.61 6.11 6.13 6.08 7.46 8.803 9.535 10.72
Distribution rate 15.2% 14.7% 15.3% 16.1% 13.7% 12.2% 11.7% 10.8%
Net sales 1 365,817 394,328 383,285 391,035 416,161 477,605 523,205 564,372
EBITDA 1 120,233 130,541 125,820 134,661 144,495 168,902 178,529 196,334
EBIT 1 108,949 119,437 114,301 123,216 133,050 155,778 164,937 183,855
Net income 1 94,680 99,803 96,995 93,736 112,010 129,621 137,747 153,099
Net Debt 1 -65,797 -49,040 -51,011 -50,021 -33,763 -67,602 -106,513 -138,985
Reference price 2 145.37 151.76 170.43 227.79 255.46 302.25 302.25 302.25
Nbr of stocks (in thousands) 16,530,166 16,070,752 15,634,232 15,204,137 14,840,390 14,594,180 - -
Announcement Date 28/10/21 27/10/22 02/11/23 31/10/24 30/10/25 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
34.64x9.18x25.95x0.35% 4,450B
25.03x1.01x12.79x-.--% 87.44B
20.24x0.77x14.24x2.6% 9.77B
7.41x1.45x2.63x0.92% 3.17B
Average 21.83x 3.10x 13.90x 0.97% 1,138B
Weighted average by Cap. 34.40x 9.00x 25.65x 0.35%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield