Company Valuation: Apple Inc.

Data adjusted to current consolidation scope
Fiscal Period: September 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 24,02,990 24,38,897 26,64,542 34,63,350 37,91,126 46,65,759 - -
Change - 1.49% 9.25% 29.98% 9.46% 23.07% - -
Enterprise Value (EV) 1 23,37,193 23,89,857 26,13,531 34,13,329 37,57,363 45,98,158 45,59,246 45,26,775
Change - 2.25% 9.36% 30.6% 10.08% 22.38% -0.85% -0.71%
P/E 25.9x 24.8x 27.8x 37.5x 34.2x 36.3x 33.5x 29.8x
PBR 37.9x 47.8x 42.6x 60.5x 51.2x 46.4x 33.1x 21.2x
PEG - 2.78x 84.93x -45.98x 1.5x 2x 4.11x 2.4x
Capitalization / Revenue 6.57x 6.18x 6.95x 8.86x 9.11x 9.77x 8.89x 8.24x
EV / Revenue 6.39x 6.06x 6.82x 8.73x 9.03x 9.63x 8.68x 7.99x
EV / EBITDA 19.4x 18.3x 20.8x 25.3x 26x 27.1x 25.4x 22.9x
EV / EBIT 21.5x 20x 22.9x 27.7x 28.2x 29.4x 27.5x 24.5x
EV / FCF 25.1x 21.4x 26.2x 31.4x 38x 31.8x 29.8x 26.8x
FCF Yield 3.98% 4.66% 3.81% 3.19% 2.63% 3.14% 3.36% 3.73%
Dividend per Share 2 0.85 0.9 0.94 0.98 1.02 1.069 1.115 1.168
Rate of return 0.58% 0.59% 0.55% 0.43% 0.4% 0.33% 0.35% 0.37%
EPS 2 5.61 6.11 6.13 6.08 7.46 8.812 9.531 10.71
Distribution rate 15.2% 14.7% 15.3% 16.1% 13.7% 12.1% 11.7% 10.9%
Net sales 1 3,65,817 3,94,328 3,83,285 3,91,035 4,16,161 4,77,684 5,25,003 5,66,551
EBITDA 1 1,20,233 1,30,541 1,25,820 1,34,661 1,44,495 1,69,548 1,79,309 1,97,526
EBIT 1 1,08,949 1,19,437 1,14,301 1,23,216 1,33,050 1,56,310 1,65,555 1,84,910
Net income 1 94,680 99,803 96,995 93,736 1,12,010 1,29,936 1,38,167 1,53,343
Net Debt 1 -65,797 -49,040 -51,011 -50,021 -33,763 -67,602 -1,06,513 -1,38,985
Reference price 2 145.37 151.76 170.43 227.79 255.46 319.70 319.70 319.70
Nbr of stocks (in thousands) 1,65,30,166 1,60,70,752 1,56,34,232 1,52,04,137 1,48,40,390 1,45,94,180 - -
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.($)
36.28x9.63x27.12x0.33% 4,66600Cr
24.46x1.12x13.49x-.--% 9.13TCr
19.79x0.75x11.85x2.31% 982.8Cr
8.38x1.71x3.1x0.81% 360.1Cr
Average 22.23x 3.30x 13.89x 0.86% 1,19300Cr
Weighted average by Cap. 36.00x 9.44x 26.81x 0.33%

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