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 48,69,932 - -
Change - 1.49% 9.25% 29.98% 9.46% 28.46% - -
Enterprise Value (EV) 1 23,37,193 23,89,857 26,13,531 34,13,329 37,57,363 48,03,543 47,65,067 47,33,956
Change - 2.25% 9.36% 30.6% 10.08% 27.84% -0.8% -0.65%
P/E 25.9x 24.8x 27.8x 37.5x 34.2x 37.8x 34.8x 30.9x
PBR 37.9x 47.8x 42.6x 60.5x 51.2x 48.3x 35.6x 23.4x
PEG - 2.78x 84.93x -45.98x 1.5x 2.1x 4.06x 2.4x
Capitalization / Revenue 6.57x 6.18x 6.95x 8.86x 9.11x 10.2x 9.22x 8.53x
EV / Revenue 6.39x 6.06x 6.82x 8.73x 9.03x 10.1x 9.03x 8.29x
EV / EBITDA 19.4x 18.3x 20.8x 25.3x 26x 28.3x 26.5x 23.9x
EV / EBIT 21.5x 20x 22.9x 27.7x 28.2x 30.7x 28.6x 25.4x
EV / FCF 25.1x 21.4x 26.2x 31.4x 38x 33.4x 31.1x 28x
FCF Yield 3.98% 4.66% 3.81% 3.19% 2.63% 2.99% 3.22% 3.57%
Dividend per Share 2 0.85 0.9 0.94 0.98 1.02 1.069 1.114 1.169
Rate of return 0.58% 0.59% 0.55% 0.43% 0.4% 0.32% 0.33% 0.35%
EPS 2 5.61 6.11 6.13 6.08 7.46 8.82 9.576 10.8
Distribution rate 15.2% 14.7% 15.3% 16.1% 13.7% 12.1% 11.6% 10.8%
Net sales 1 3,65,817 3,94,328 3,83,285 3,91,035 4,16,161 4,77,854 5,27,984 5,71,138
EBITDA 1 1,20,233 1,30,541 1,25,820 1,34,661 1,44,495 1,69,461 1,80,062 1,98,485
EBIT 1 1,08,949 1,19,437 1,14,301 1,23,216 1,33,050 1,56,398 1,66,709 1,86,041
Net income 1 94,680 99,803 96,995 93,736 1,12,010 1,29,944 1,38,537 1,54,052
Net Debt 1 -65,797 -49,040 -51,011 -50,021 -33,763 -66,389 -1,04,865 -1,35,976
Reference price 2 145.37 151.76 170.43 227.79 255.46 333.69 333.69 333.69
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.($)
37.83x10.05x28.35x0.32% 4,87000Cr
5.79x2.02x3.41x4.42% 1,30100Cr
21.18x0.93x11.13x-.--% 7.95TCr
18.77x0.72x11.04x2.42% 923.72Cr
6.96x0.77x2.35x0.98% 307.15Cr
-27.15x518.28x-38.6x - 235.81Cr
Average 10.56x 88.79x 2.95x 1.63% 1,04400Cr
Weighted average by Cap. 30.90x 8.44x 22.89x 1.17%

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