Financials Apple Inc.

Equities

AAPL

US0378331005

Phones & Handheld Devices

Market Closed - Nasdaq 21:00:00 15/07/2024 BST After market 00:59:56
234.4 USD +1.67% Intraday chart for Apple Inc. 235.7 +0.54%

Valuation

Fiscal Period: September 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 1,012,161 1,980,645 2,339,018 2,220,978 2,676,737 3,594,309 - -
Enterprise Value (EV) 1 914,310 1,901,251 2,273,221 2,171,938 2,625,726 3,542,978 3,537,418 3,525,862
P/E ratio 18.8 x 35.3 x 25.2 x 22.6 x 27.9 x 35.5 x 32.2 x 28.6 x
Yield 1.34% 0.69% 0.6% 0.65% 0.55% 0.42% 0.44% 0.47%
Capitalization / Revenue 3.89 x 7.22 x 6.39 x 5.63 x 6.98 x 9.28 x 8.66 x 8.03 x
EV / Revenue 3.51 x 6.93 x 6.21 x 5.51 x 6.85 x 9.15 x 8.52 x 7.88 x
EV / EBITDA 12 x 24.6 x 18.9 x 16.6 x 20.9 x 26.7 x 25 x 22.6 x
EV / FCF 15.5 x 25.9 x 24.5 x 19.5 x 26.4 x 32.1 x 28.6 x 26 x
FCF Yield 6.44% 3.86% 4.09% 5.13% 3.79% 3.12% 3.5% 3.84%
Price to Book 11 x 31.5 x 36.8 x 43.5 x 42.8 x 54.4 x 49 x 38.6 x
Nbr of stocks (in thousands) 18,076,720 17,102,536 16,530,166 16,070,752 15,634,232 15,334,082 - -
Reference price 2 55.99 115.8 141.5 138.2 171.2 234.4 234.4 234.4
Announcement Date 30/10/19 29/10/20 28/10/21 27/10/22 02/11/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: September 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 260,174 274,515 365,817 394,328 383,285 387,358 415,198 447,373
EBITDA 1 76,477 77,344 120,233 130,541 125,820 132,649 141,519 155,756
EBIT 1 63,930 66,288 108,949 119,437 114,301 120,898 130,137 141,157
Operating Margin 24.57% 24.15% 29.78% 30.29% 29.82% 31.21% 31.34% 31.55%
Earnings before Tax (EBT) 1 65,737 67,091 109,207 119,103 113,736 120,896 129,983 140,340
Net income 1 55,256 57,411 94,680 99,803 96,995 101,655 109,424 118,693
Net margin 21.24% 20.91% 25.88% 25.31% 25.31% 26.24% 26.35% 26.53%
EPS 2 2.972 3.280 5.610 6.110 6.130 6.604 7.285 8.195
Free Cash Flow 1 58,896 73,365 92,953 111,443 99,584 110,420 123,642 135,414
FCF margin 22.64% 26.73% 25.41% 28.26% 25.98% 28.51% 29.78% 30.27%
FCF Conversion (EBITDA) 77.01% 94.86% 77.31% 85.37% 79.15% 83.24% 87.37% 86.94%
FCF Conversion (Net income) 106.59% 127.79% 98.18% 111.66% 102.67% 108.62% 112.99% 114.09%
Dividend per Share 2 0.7500 0.7950 0.8500 0.9000 0.9400 0.9922 1.041 1.092
Announcement Date 30/10/19 29/10/20 28/10/21 27/10/22 02/11/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: Septiembre 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2 2025 Q3
Net sales 1 123,945 97,278 82,959 90,146 117,154 94,836 81,797 89,498 119,575 90,753 83,963 92,729 126,728 97,165 90,199
EBITDA 1 44,185 32,716 25,881 27,759 38,932 31,216 26,050 29,622 43,221 30,736 27,090 31,030 43,575 31,938 28,116
EBIT 1 41,488 29,979 23,076 24,894 36,016 28,318 22,998 26,969 40,373 27,900 24,297 27,891 42,034 29,920 26,522
Operating Margin 33.47% 30.82% 27.82% 27.62% 30.74% 29.86% 28.12% 30.13% 33.76% 30.74% 28.94% 30.08% 33.17% 30.79% 29.4%
Earnings before Tax (EBT) 1 41,241 30,139 23,066 24,657 35,623 28,382 22,733 26,998 40,323 28,058 24,374 27,897 41,910 29,678 26,436
Net income 1 34,630 25,010 19,442 20,721 29,998 24,160 19,881 22,956 33,916 23,636 20,477 23,475 35,104 24,861 22,199
Net margin 27.94% 25.71% 23.44% 22.99% 25.61% 25.48% 24.31% 25.65% 28.36% 26.04% 24.39% 25.32% 27.7% 25.59% 24.61%
EPS 2 2.100 1.520 1.200 1.290 1.880 1.520 1.260 1.460 2.180 1.530 1.328 1.544 2.362 1.689 1.513
Dividend per Share 2 0.2200 0.2200 0.2300 0.2300 0.2300 0.2300 0.2400 0.2400 0.2400 0.2500 0.2500 0.2500 0.2500 0.2550 0.2633
Announcement Date 27/01/22 28/04/22 28/07/22 27/10/22 02/02/23 04/05/23 03/08/23 02/11/23 01/02/24 02/05/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: Septiembre 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 97,851 79,394 65,797 49,040 51,011 51,331 56,891 68,446
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 58,896 73,365 92,953 111,443 99,584 110,420 123,642 135,414
ROE (net income / shareholders' equity) 55.9% 73.7% 147% 175% 172% 159% 164% 191%
ROA (Net income/ Total Assets) 15.7% 17.3% 28.1% 28.4% 27.5% 29.5% 30.9% 36%
Assets 1 352,119 331,203 337,445 351,879 352,669 344,593 353,741 329,704
Book Value Per Share 2 5.090 3.680 3.840 3.180 4.000 4.310 4.780 6.070
Cash Flow per Share 2 3.730 4.600 6.170 7.480 6.990 8.060 8.720 9.780
Capex 1 10,495 7,309 11,085 10,708 10,959 10,168 10,918 11,228
Capex / Sales 4.03% 2.66% 3.03% 2.72% 2.86% 2.62% 2.63% 2.51%
Announcement Date 30/10/19 29/10/20 28/10/21 27/10/22 02/11/23 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
A-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
46
Last Close Price
234.4 USD
Average target price
218.1 USD
Spread / Average Target
-6.97%
Consensus