Company Valuation: Apple Inc.

Data adjusted to current consolidation scope
Fiscal Period: September 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 2,402,990 2,438,897 2,664,542 3,463,350 3,791,126 4,298,695 - -
Change - 1.49% 9.25% 29.98% 9.46% 13.39% - -
Enterprise Value (EV) 1 2,337,193 2,389,857 2,613,531 3,413,329 3,757,363 4,228,839 4,203,376 4,171,194
Change - 2.25% 9.36% 30.6% 10.08% 12.55% -0.6% -0.77%
P/E ratio 25.9x 24.8x 27.8x 37.5x 34.2x 33.5x 30.5x 27.3x
PBR 37.9x 47.8x 42.6x 60.5x 51.2x 41.2x 31x 21x
PEG - 2.78x 84.93x -45.98x 1.5x 2x 3x 2.3x
Capitalization / Revenue 6.57x 6.18x 6.95x 8.86x 9.11x 9x 8.35x 7.79x
EV / Revenue 6.39x 6.06x 6.82x 8.73x 9.03x 8.85x 8.16x 7.56x
EV / EBITDA 19.4x 18.3x 20.8x 25.3x 26x 25.3x 23.3x 21.3x
EV / EBIT 21.5x 20x 22.9x 27.7x 28.2x 27.3x 25.4x 22.9x
EV / FCF 25.1x 21.4x 26.2x 31.4x 38x 30.3x 27.2x 24.8x
FCF Yield 3.98% 4.66% 3.81% 3.19% 2.63% 3.3% 3.68% 4.04%
Dividend per Share 2 0.85 0.9 0.94 0.98 1.02 1.071 1.12 1.171
Rate of return 0.58% 0.59% 0.55% 0.43% 0.4% 0.37% 0.38% 0.4%
EPS 2 5.61 6.11 6.13 6.08 7.46 8.728 9.607 10.73
Distribution rate 15.2% 14.7% 15.3% 16.1% 13.7% 12.3% 11.7% 10.9%
Net sales 1 365,817 394,328 383,285 391,035 416,161 477,692 515,002 551,897
EBITDA 1 120,233 130,541 125,820 134,661 144,495 167,250 180,781 195,685
EBIT 1 108,949 119,437 114,301 123,216 133,050 154,860 165,808 181,860
Net income 1 94,680 99,803 96,995 93,736 112,010 128,222 138,456 151,919
Net Debt 1 -65,797 -49,040 -51,011 -50,021 -33,763 -69,857 -95,319 -127,502
Reference price 2 145.37 151.76 170.43 227.79 255.46 292.68 292.68 292.68
Nbr of stocks (in thousands) 16,530,166 16,070,752 15,634,232 15,204,137 14,840,390 14,687,356 - -
Announcement Date 28/10/21 27/10/22 02/11/23 31/10/24 30/10/25 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
33.53x8.85x25.28x0.37% 4,299B
24.53x1.16x13.65x-.--% 104B
22.58x0.76x12.08x1.77% 10.05B
9.7x1.18x3.58x0.7% 4.13B
Average 22.59x 2.99x 13.65x 0.71% 1,104B
Weighted average by Cap. 33.27x 8.65x 24.96x 0.36%

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