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MARKETS / NASDAQ / Industrials / Machinery and equipment / AAPL
NASDAQ · ELECTRONIC COMPUTERS · LARGE CAP

Apple Inc. AAPL

19 fiscal years on record · USD · FY2025 reported · SEC filings only
5 YEARS OF DIVIDEND GROWTH
$416.2B
▲ 6.4% YoY
$112.0B
▲ 19.5% YoY
$98.8B
▼ 9.2% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

Apple designs, manufactures and markets smartphones, personal computers, tablets, wearables and accessories, and sells a variety of related services. Its iPhone line of smartphones is based on the iOS operating system. The Mac line of personal computers is based on the macOS operating system and includes the MacBook Air and MacBook Pro laptops and the iMac, Mac mini, Mac Studio and Mac Pro desktops. The iPad line of multipurpose tablets is based on the iPadOS operating system. It operates platforms, including the App Store, that allow customers to discover and download applications and digital content such as books, music, video, games and podcasts. Its payment services include Apple Card, a co-branded credit card, and Apple Pay, a cashless payment service. As of September 27, 2025, it had approximately 166,000 full-time equivalent employees. The business is managed primarily on a geographic basis, and its reportable segments are the Americas, Europe, Greater China, Japan and Rest of Asia Pacific.

Written from the business description in Apple Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 31 October 2025. Every sentence was checked against that document before publication.

Growth

USD 416.2B
Revenue, FY2025 · full 19-year series below
Revenue $B Net income $B
FY2025 · Revenue 416.2 · Net income 112.0
150B300B
2007201020132016201920222025
Compound annual growth
+1.8%
+8.7%
+5.9%
+13.2%
+3.9%
+14.3%
+7.7%
+14.9%
+6.9%
+17.9%
+4.3%
+5.1%
+0.6%
+4.4%
+8.7%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +8.7% a year over the five years to FY2025 — but profit grew faster: net income at +14.3%, earnings per share at +17.9%.

The share count fell from 16.98B to 14.77B — the buyback concentrates the same profit into fewer slices.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

27 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 32.0% · Net 26.9%
10%20%30%
200720162025
ROE
FY2025 · ROE 171.4%
50%100%150%
200720162025
Three returns, three denominators.
Gross margin46.9%
Operating margin32.0%
Net margin26.9%
EBITDAUSD 144.7B

Each USD of equity produced 171 cents of profit this year.

Cash & shareholders

USD 106.1B
returned in FY2025 · dividends + net buybacks
Free cash flow $B
FY2025 · FCF 98.8
50B100B
200720162025
Net buybacks $B Dividends $B
FY2025 · Dividends 15.4 · Net buybacks 90.7
50B100BDividendsNet buybacks
20112013201520172019202120232025
Dividends paidUSD 15.4B
Net buybacksUSD 90.7B
Share of profit94.8%
Consecutive raises5 years (since the 2020 share-count change)

USD 15.4B in dividends and USD 90.7B in buybacks — 95% of the year's profit went back to shareholders.

Total assetsUSD 359.2B
EquityUSD 73.7B
CashUSD 35.9B
Gross debtUSD 90.7B
Net debtUSD 54.7B
Current ratio0.89×

Net debt stands at 74% of equity.

The 19-year record

19 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative—not applicable◌not available in our data
AAPL, 19-year financial record
Metric 2025202420232022202120202019201820172016201520142013201220112010200920082007
Revenue $B416.2391.0383.3394.3365.8274.5260.2265.6229.2215.6233.7182.8170.9156.5108.265.242.937.524.6
Operating income $B133.1123.2114.3119.4108.966.363.970.961.360.071.252.549.055.233.818.411.78.34.4
EBITDA $B144.7134.7125.8130.5120.277.376.581.871.570.580.460.455.858.535.619.412.58.84.7
Income tax $B20.729.716.719.314.59.710.513.415.715.719.114.013.114.08.34.53.82.81.5
Net income $B112.093.797.099.894.757.455.359.548.445.753.439.537.041.725.914.08.26.13.5
Free cash flow $B98.8108.899.6111.493.073.458.964.151.853.570.050.145.542.633.316.69.08.54.7
EPS, diluted $7.466.086.136.115.613.282.972.989.218.319.226.455.686.3127.6815.159.086.783.93
Dividend / sh $1.020.980.940.900.850.800.750.682.402.181.981.821.640.380.000.00◌◌◌
Payout %14161515152526232627222828——————
ROE %171.4157.4171.9175.5147.473.755.949.436.936.946.233.630.642.841.735.330.533.224.1
Shares out B14.7715.1215.5515.9416.4316.984.444.755.135.345.585.870.900.940.930.920.900.89◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

Compare

This company against its peers

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Provenance

Company facts, as filed

How we verify · 0 failures in 93 reconciliationsAUDITED

Reconciled in 19 of the 19 fiscal years we could check. Two checks were skipped: the balance sheet is not tagged before 2008.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityElectronic Computers
Listed onNASDAQ
Incorporated inCalifornia
Fiscal year endsSeptember 26
Data on record since2007

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