Financials Apple Inc.

Equities

AAPL

US0378331005

Phones & Handheld Devices

Market Closed - Nasdaq Other stock markets 01:30:00 10/07/2025 am IST			After hours 05:30:00 am
211.14 ^USD	+0.54%		210.38	-0.36%

17/06	Communications Services Up as Roku Rallies -- Communications Services Roundup	DJ
17/06	Trump family in phone service licensing deal, touts a $499 device	RE

Projected Income Statement: Apple Inc.

Fiscal Period: September	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	2,74,515	3,65,817	3,94,328	3,83,285	3,91,035	4,07,367	4,31,394	4,57,016
Change	-	33.26%	7.79%	-2.8%	2.02%	4.18%	5.9%	5.94%
EBITDA ¹	77,344	1,20,233	1,30,541	1,25,820	1,34,661	1,40,113	1,48,464	1,59,471
Change	-	55.45%	8.57%	-3.62%	7.03%	4.05%	5.96%	7.41%
EBIT ¹	66,288	1,08,949	1,19,437	1,14,301	1,23,216	1,28,024	1,36,529	1,45,174
Change	-	64.36%	9.63%	-4.3%	7.8%	3.9%	6.64%	6.33%
Interest Paid ¹	-2,873	-2,645	-334	-565	269	-1,119	-923.2	-446
Earnings before Tax (EBT) ¹	67,091	1,09,207	1,19,103	1,13,736	1,23,485	1,27,167	1,35,049	1,45,640
Change	-	62.77%	9.06%	-4.51%	8.57%	2.98%	6.2%	7.84%
Net income ¹	57,411	94,680	99,803	96,995	93,736	1,07,656	1,14,164	1,23,185
Change	-	64.92%	5.41%	-2.81%	-3.36%	14.85%	6.05%	7.9%
Announcement Date	29/10/20	28/10/21	27/10/22	02/11/23	31/10/24	-	-	-

¹USD in Million

Estimates

Fiscal Period: September	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	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	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2
Net sales ¹	59,685	64,698	1,11,439	89,584	81,434	83,360	1,23,945	97,278	82,959	90,146	1,17,154	94,836	81,797	89,498	1,19,575	90,753	85,777	94,930	1,24,300	95,359	88,758	97,776	1,29,497	99,499	93,106	1,02,739	1,29,966	1,01,585
Change	-	8.4%	72.24%	-19.61%	-9.1%	2.37%	48.69%	-21.52%	-14.72%	8.66%	29.96%	-19.05%	-13.75%	9.41%	33.61%	-24.1%	-5.48%	10.67%	30.94%	-23.28%	-6.92%	10.16%	32.44%	-23.16%	-6.42%	10.35%	26.5%	-21.84%
EBITDA ¹	15,843	17,477	36,200	30,300	26,958	26,775	44,185	32,716	25,881	27,759	38,932	31,216	26,050	29,622	43,221	30,736	28,202	32,502	45,912	32,250	27,990	30,937	43,577	33,263	30,094	34,139	45,414	34,349
Change	-	10.31%	107.13%	-16.3%	-11.03%	-0.68%	65.02%	-25.96%	-20.89%	7.26%	40.25%	-19.82%	-16.55%	13.71%	45.91%	-28.89%	-8.24%	15.25%	41.26%	-29.76%	-13.21%	10.53%	40.85%	-23.67%	-9.53%	13.44%	33.03%	-24.36%
EBIT ¹	13,091	14,775	33,534	27,503	24,126	23,786	41,488	29,979	23,076	24,894	36,016	28,318	22,998	26,969	40,373	27,900	25,352	29,591	42,832	29,589	25,519	29,555	42,865	30,685	27,800	32,003	42,385	31,339
Change	-	12.86%	126.96%	-17.98%	-12.28%	-1.41%	74.42%	-27.74%	-23.03%	7.88%	44.68%	-21.37%	-18.79%	17.27%	49.7%	-30.89%	-9.13%	16.72%	44.75%	-30.92%	-13.75%	15.81%	45.04%	-28.41%	-9.4%	15.12%	32.44%	-26.06%
Charge d'intérêts ¹	-697	-634	-638	-670	-665	-	-247	160	-10	-237	-393	64	-265	29	-50	-158	142	19	-248	-279	-300	-300	-250	-200	-150	-150	-	-
Earnings before Tax (EBT) ¹	13,137	14,901	33,579	28,011	24,369	23,248	41,241	30,139	23,066	24,657	35,623	28,382	22,733	26,998	40,323	28,058	25,494	29,610	42,584	29,310	25,252	29,434	42,508	30,320	27,595	31,797	42,175	31,101
Change	-	13.43%	125.35%	-16.58%	-13%	-4.6%	77.4%	-26.92%	-23.47%	6.9%	44.47%	-20.33%	-19.9%	18.76%	49.36%	-30.42%	-9.14%	16.14%	43.82%	-31.17%	-13.84%	16.56%	44.42%	-28.67%	-8.99%	15.23%	32.64%	-26.26%
Net income ¹	11,253	12,673	28,755	23,630	21,744	20,551	34,630	25,010	19,442	20,721	29,998	24,160	19,881	22,956	33,916	23,636	21,448	14,736	36,330	24,780	21,273	24,730	35,926	25,705	23,176	26,688	35,856	25,757
Change	-	12.62%	126.9%	-17.82%	-7.98%	-5.49%	68.51%	-27.78%	-22.26%	6.58%	44.77%	-19.46%	-17.71%	15.47%	47.74%	-30.31%	-9.26%	-31.29%	146.54%	-31.79%	-14.15%	16.25%	45.27%	-28.45%	-9.84%	15.15%	34.35%	-28.17%
Announcement Date	30/07/20	29/10/20	27/01/21	28/04/21	27/07/21	28/10/21	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	01/08/24	31/10/24	30/01/25	01/05/25	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Apple Inc.

Fiscal Period: September	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	-79,394	-65,797	-49,040	-51,011	-50,021	-38,008	-44,554	-51,121
Change	-	17.13%	25.47%	-4.02%	1.94%	24.02%	-17.22%	-14.74%
Announcement Date	29/10/20	28/10/21	27/10/22	02/11/23	31/10/24	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Apple Inc.

Fiscal Period: September	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	7,309	11,085	10,708	10,959	9,447	11,127	11,381	11,845
Change	-	51.66%	-3.4%	2.34%	-13.8%	17.78%	2.28%	4.07%
Free Cash Flow (FCF) ¹	73,365	92,953	1,11,443	99,584	1,08,807	1,09,676	1,25,861	1,38,560
Change	-	26.7%	19.89%	-10.64%	9.26%	0.8%	14.76%	10.09%
Announcement Date	29/10/20	28/10/21	27/10/22	02/11/23	31/10/24	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Apple Inc.

Fiscal Period: September	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	28.17%	32.87%	33.1%	32.83%	34.44%	34.39%	34.41%	34.89%
EBIT Margin (%)	24.15%	29.78%	30.29%	29.82%	31.51%	31.43%	31.65%	31.77%
EBT Margin (%)	24.44%	29.85%	30.2%	29.67%	31.58%	31.22%	31.31%	31.87%
Net margin (%)	20.91%	25.88%	25.31%	25.31%	23.97%	26.43%	26.46%	26.95%
FCF margin (%)	26.73%	25.41%	28.26%	25.98%	27.83%	26.92%	29.18%	30.32%
FCF / Net Income (%)	127.79%	98.18%	111.66%	102.67%	116.08%	101.88%	110.25%	112.48%
Profitability
ROA	17.33%	28.06%	28.36%	27.5%	26.13%	30.62%	32.64%	34.66%
ROE	73.69%	147.44%	175.46%	171.95%	157.41%	181.69%	173.82%	145.26%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	2.66%	3.03%	2.72%	2.86%	2.42%	2.73%	2.64%	2.59%
CAPEX / EBITDA (%)	9.45%	9.22%	8.2%	8.71%	7.02%	7.94%	7.67%	7.43%
CAPEX / FCF (%)	9.96%	11.93%	9.61%	11%	8.68%	10.15%	9.04%	8.55%
Items per share
Cash flow per share ¹	4.603	6.169	7.482	6.991	7.675	7.946	9.2	10.59
Change	-	34.03%	21.29%	-6.57%	9.78%	3.53%	15.78%	15.13%
Dividend per Share ¹	0.795	0.85	0.9	0.94	0.98	1.027	1.079	1.112
Change	-	6.92%	5.88%	4.44%	4.26%	4.78%	5.07%	3.03%
Book Value Per Share ¹	3.676	3.841	3.178	3.996	3.767	3.99	4.368	5.311
Change	-	4.47%	-17.25%	25.75%	-5.74%	5.9%	9.49%	21.58%
EPS ¹	3.28	5.61	6.11	6.13	6.08	7.175	7.82	8.631
Change	-	71.04%	8.91%	0.33%	-0.82%	18%	9%	10.37%
Nbr of stocks (in thousands)	1,71,02,536	1,65,30,166	1,60,70,752	1,56,34,232	1,52,04,137	1,49,35,826	1,49,35,826	1,49,35,826
Announcement Date	29/10/20	28/10/21	27/10/22	02/11/23	31/10/24	-	-	-