AAPL
Apple Inc.
Technology • CIK: 0000320193
Loading...
Market Cap
$3.82T
P/E (TTM)
34.2x
Rev Growth (TTM)
+6.4%
Net Margin (TTM)
26.9%
FCF Yield (TTM)
2.6%
FCF Margin (TTM)
23.7%
Cash Flow Health
Free Cash Flow8/8 positive
TTM$98.8B
Q4 '26
$26.5B+9%
Q3 '25
$24.4B+17%
FCF Margin
TTM23.7%
Q4 '2625.8%
Sector: 14.5%Top 25%
OCF Margin26.8%
OCF/NI1.00x
CapEx Coverage8.8x
FCF Yield2.6%
FCF Growth (2Y)-4%
Cash Conversion Cycle
-61 days
DSO: 26+DIO: 11−DPO: 97
Capital Allocation & Returns
Balanced
Total Shareholder YieldTTM
TTM2.8%
Div Yield0.4%
+Buyback (TTM)2.4%
Balancing returns with reinvestment
Dividend & Payout Metrics
Dividend Yield (TTM)0.4%
FCF Payout Ratio15.4%
Free Cash Flow (TTM)$98.8B
Stock Repurchases (TTM)$90.7B
Capital Return / FCF107.5%
Est. Dividends Paid (TTM)$15.2B
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
67.6%
Volatile
+0.3% YoY+2.0%
P25MedianP75
75th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
27.0%
8Q: 26.1%
Asset Turnover
1.22x
8Q: 1.13x
Leverage (1+D/E)
2.34x
D/E: 1.34x
DuPont: 76.7% ≈ 67.6% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
8.80x
8Q:8.33x
-140.1%
Invested Cap Turn
13.45x
8Q:10.96x
+621.0%
CapEx Intensity
41.1%
8Q:33.9%
CapEx/Depreciation
1.09x
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q4 2026 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2025 | Q3 2024 | Q2 2024 | Q1 2024 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $416.2B | $102.5B↑9.0% | $94.0B↓1.4% | $95.4B↓23.3% | $124.3B↑30.9% | $94.9B↑10.7% | $85.8B↓5.5% | $90.8B↓24.1% | $119.6B |
Operating Income | $133.1B | $32.4B↑15.0% | $28.2B↓4.7% | $29.6B↓30.9% | $42.8B↑44.7% | $29.6B↑16.7% | $25.4B↓9.1% | $27.9B↓30.9% | $40.4B |
Net Income | $112.0B | $27.5B↑17.2% | $23.4B↓5.4% | $24.8B↓31.8% | $36.3B↑146.5% | $14.7B↓31.3% | $21.4B↓9.3% | $23.6B↓30.3% | $33.9B |
Operating Cash Flow | $111.5B | $29.7B↑6.7% | $27.9B↑16.3% | $24.0B↓20.0% | $29.9B↑11.7% | $26.8B↓7.1% | $28.9B↑27.2% | $22.7B↓43.1% | $39.9B |
Free Cash Flow | $98.8B | $26.5B↑8.5% | $24.4B↑16.9% | $20.9B↓22.6% | $27.0B↑12.9% | $23.9B↓10.5% | $26.7B↑29.1% | $20.7B↓44.8% | $37.5B |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
34.2x
Volatile
8Q: 130.1x+2081%
Valuation Lenses
Earnings
34.2x
vs – sector
Cash Flow
35.1x
EV/FCF vs –
Growth-Adj
1.5xPEG
Fair for growth
Quality-Adj
0.5P/E per %ROIC
ROIC: 67.6%
Shareholder Returns
Dividend
0.4%
Buyback
2.4%
Total Yield
2.8%
Market Cap$3.82T
EV–
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
75/100
High Quality
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Top 10%
1.7%
8Q:–
Return on Invested Capital (ROIC)Top 25%
67.6%
8Q:–
+2.0%
vs Sector:0.1%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 27.0%
Asset Turnover: 1.22x
Earnings Quality
Cash Conversion
1.00x
OCF / Net Income
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin46.9%
Capital Efficiency
Invested Capital Turnover13.45x
Working Capital
Cash Conversion Cycle-61 days
Growth Quality & Momentum
Moderate Growth
Growth Quality Score
54/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
6.4%
OpInc Growth YoY
9.6%
EPS Growth YoY
22.7%
FCF 3Y CAGR
-3.9%
Growth Quality Analysis
⚠Working Capital Drag: FCF growth lagging revenue by 10.4%
Margin Quality & Sustainability
Moderate
Profitability Cascade
Gross
46.9%
Operating
32.0%
Top 25% in sector
Net
26.9%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
-3.2 pts
FCF: 23.7% | Net: 26.9%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Leveraged
Net Debt / EBITDA
–Net Debt: $43.96B
Interest Coverage
–
Leverage Metrics
Debt-to-Equity
1.34x
Balance sheet risk & solvency analysis