MARKETS / NASDAQ / AAPL

NASDAQ · ELECTRONIC COMPUTERS · LARGE CAP

Apple Inc. AAPL

19 fiscal years on record · USD · FY2025 reported · SEC filings only

6 YEARS OF DIVIDEND GROWTH

Revenue

$416.2B

▲ 6.4% YoY

Net income

$112.0B

▲ 19.5% YoY

Free cash flow

$98.8B

▼ 9.2% YoY

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

Compound annual growth

Revenue

+1.8%

+8.7%

+5.9%

+13.2%

Net income

+3.9%

+14.3%

+7.7%

+14.9%

EPS, diluted

+6.9%

+17.9%

Dividend / share

+4.3%

+5.1%

Returned to shareholders

+0.6%

+4.4%

+8.7%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +8.7% a year over five years — 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%

ROE

FY2025 · ROE 171.4%

Gross margin46.9%

Operating margin32.0%

Net margin26.9%

Return on assets30.9%

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

Net buybacks $B Dividends $B

FY2025 · Dividends 15.4 · Net buybacks 90.7

Dividends paidUSD 15.4B

Net buybacksUSD 90.7B

Share of profit94.8%

Consecutive raises6 years (since the 2019 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

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
Revenue $B	416.2	391.0	383.3	394.3	365.8	274.5	260.2	265.6	229.2	215.6	233.7	182.8	170.9	156.5	108.2	65.2	42.9	37.5	24.6
Operating income $B	133.1	123.2	114.3	119.4	108.9	66.3	63.9	70.9	61.3	60.0	71.2	52.5	49.0	55.2	33.8	18.4	11.7	8.3	4.4
EBITDA $B	144.7	134.7	125.8	130.5	120.2	77.3	76.5	81.8	71.5	70.5	80.4	60.4	55.8	58.5	35.6	19.4	12.5	8.8	4.7
Income tax $B	20.7	29.7	16.7	19.3	14.5	9.7	10.5	13.4	15.7	15.7	19.1	14.0	13.1	14.0	8.3	4.5	3.8	2.8	1.5
Net income $B	112.0	93.7	97.0	99.8	94.7	57.4	55.3	59.5	48.4	45.7	53.4	39.5	37.0	41.7	25.9	14.0	8.2	6.1	3.5
Free cash flow $B	98.8	108.8	99.6	111.4	93.0	73.4	58.9	64.1	51.8	53.5	70.0	50.1	45.5	42.6	33.3	16.6	9.0	8.5	4.7
EPS, diluted $	7.46	6.08	6.13	6.11	5.61	3.28	2.97	2.98	9.21	8.31	9.22	6.45	5.68	6.31	27.68	15.15	9.08	6.78	3.93
Dividend / sh $	1.02	0.98	0.94	0.90	0.85	0.80	0.75	0.68	2.40	2.18	1.98	1.82	1.64	0.38	0.00	0.00	·	·	·
Payout %	14	16	15	15	15	25	26	23	26	27	22	28	28	·	·	·	·	·	·
ROE %	171.4	157.4	171.9	175.5	147.4	73.7	55.9	49.4	36.9	36.9	46.2	33.6	30.6	42.8	41.7	35.3	30.5	33.2	24.1
Shares out B	14.77	15.12	15.55	15.94	16.43	16.98	17.77	4.75	5.13	5.34	5.58	5.87	6.29	0.94	0.93	0.92	0.90	0.89	·

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

Compare

This company against its peers

Apple Inc.vsDell Technologies Inc.Same industry: Electronic Computers Apple Inc.vsCaterpillar Inc.Same industry: Electronic Computers Apple Inc.vsInternational Business Machines Corp.Same industry: Electronic Computers Apple Inc.vsCisco Systems, Inc.Same industry: Electronic Computers Apple Inc.vsHP Inc.Same industry: Electronic Computers Apple Inc.vsDeere & Co.Same industry: Electronic Computers Apple Inc.vsSuper Micro Computer, Inc.Same industry: Electronic Computers

Provenance

Company facts, as filed

How we verify · 0 failures in 93 reconciliationsAUDITED

Reconciled in 19 of 19 fiscal years. 2 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityElectronic Computers

Listed onNASDAQ

Incorporated inCalifornia

Fiscal year endsSeptember 26

Data on record since2007