Debt is smaller than equity and it can meet short-term obligations.
Metrics · D/E ~78% · Current Ratio 1.00
💲Is the price expensive now?
On the expensive side
Even accounting for growth expectations, the price is set high.
Metrics · P/E 35.4 · P/B 42.0
💡Profitability is excellent (33% operating, 28% net margin). The 149% ROE is inflated by buybacks shrinking equity. Debt is ~0.78x equity; 35x P/E is pricey.
Compiled from public financial data. Not a recommendation to buy or sell any security. · Source: stockanalysis (margins, debt, liquidity, P/B are TTM) · P/E on the July 31 close, as of 2026-07-31
Business Summary · Key Value Metrics
Designs and sells iPhone, Mac, iPad, and wearable hardware alongside a fast-growing Services arm (App Store, subscriptions). Its edge rests on in-house M- and A-series silicon (fabricated by TSMC) and the locked-in iOS ecosystem. FY2025 (ended Sept 2025) revenue was $416.2B with $133.1B operating income (32% margin).
Current Price
$308.91
-7.35%-$24.52· Close 2026-07-31
Analyst Consensus Target (external reference)
$322.11
Avg. of 46 external analysts · stockanalysis (46-analyst consensus, Buy · high $400 / low $215)
P/E (TTM)
35.4x
TTM · forward ~33.6x
ROE
148.8%
TTM (buyback-inflated)
Operating Margin
33.2%
TTM
Net Margin
27.6%
TTM
Revenue Growth
+14.2%
TTM YoY
Market Cap
$4.51T
As of 2026-07-31
Economic Moat · Key Business Segments
An installed base of 2.3B+ active devices anchors an iOS ecosystem that raises switching costs. High-margin Services revenue (App Store fees, subscriptions) keeps gaining share of the mix. In-house M- and A-series silicon, fabricated on TSMC's leading-edge nodes, delivers performance and power-efficiency advantages, while the brand, retail channel, and Apple Pay reinforce the lock-in (source: company IR · 10-K).
iOS ecosystem lock-in
2.3B+ active devices; apps, payments, and continuity features make switching costly.
High-margin Services
App Store, subscriptions, and ads drive high-margin revenue that keeps gaining share.
In-house silicon
Self-designed M- and A-series chips on TSMC's leading-edge nodes give performance and efficiency advantages.
Brand and pricing power
A premium brand paired with bundled hardware and services sustains a price premium.
10-Year Financial Trends
Revenue growth has been modest at a 9-year CAGR of +7.6% (FY2016 $215.6B → FY2025 $416.2B), but operating income (+9.3%), net income (+10.5%), and EPS (+15.3%) grew faster, helped by buybacks and a richer Services mix. Operating margin rose from the mid-24% range in FY2020 to 32% in FY2025. Revenue dipped in FY2023 (-2.8%) before recovering. Fiscal Q3 2026 (ended Jun 27) delivered revenue of $109.4B (+16.4% YoY), operating income of $35.7B (32.6% quarterly margin) and diluted EPS of $2.02; the stock fell 7.35% the next day. EPS reflects the 2020 4-for-1 split (source: SEC EDGAR 10-K).
10-Year Growth
Revenue$416B · CAGR +7.6%
Operating Income$133B · CAGR +9.3%
EPS$7.46 · CAGR +15.2%
10-Year Valuation
P/E (year-end)34.2x · avg 25.1x
ROE171.4% · avg 107.6%
Operating Margin32.0% · avg 28.3%
📊 Annual Data Table (AAPL) — expand/collapse
Year
Revenue (B$)
Op. Income (B$)
EPS ($)
P/E (x)
ROE (%)
Op. Margin (%)
2016
215.6
60
2.08
13.5
36.9
27.8
2017
229.2
61.3
2.3
16.8
36.9
26.8
2018
265.6
70.9
2.98
18.9
49.4
26.7
2019
260.2
63.9
2.97
18.9
55.9
24.6
2020
274.5
66.3
3.28
35.3
73.7
24.1
2021
365.8
108.9
5.61
25.2
147.4
29.8
2022
394.3
119.4
6.11
22.6
175.5
30.3
2023
383.3
114.3
6.13
27.6
171.9
29.8
2024
391
123.2
6.09
38.3
157.4
31.5
2025
416.2
133.1
7.46
34.2
171.4
32
— = no data for that year/metric (P/E omitted before EPS turned positive)
9-Year CAGR: Revenue +7.6% · Operating Income +9.3% · Net Income +10.5% · EPS +15.3%
Sources: SEC EDGAR (10-K) · macrotrends · stockanalysis · company IR. Figures on a fiscal-year (September) basis. EPS is diluted and adjusted for the 2020 4-for-1 split. ROE is net income ÷ average equity; cumulative buybacks have shrunk equity, pushing ROE well above 100% (recent TTM around 149%). P/E is fiscal year-end price ÷ diluted EPS.
Mega-Cap Value Metric Comparison
Among the peer group, Apple's 148.8% ROE is the highest, driven by cumulative buybacks, but its 33.2% operating margin trails MSFT (~47%) and GOOGL (~34%). Revenue growth of +14.2% is on the lower end versus GOOGL and Samsung, and the forward P/E of ~33.6x sits at the top of the group (P/E = forward · ROE/operating margin = TTM · growth = TTM YoY · sources: company IR · SEC · stockanalysis).
Metric
★ AAPL
MSFT
GOOGL
Fwd P/E
33.6
20.2
28.8
ROE
148.8%*
34.0%
38.9%
Operating Margin
33.2%
46.8%
33.6%
Revenue YoY Growth
+14.2%
+18%
+22%
* Apple's ROE includes the cumulative effect of buybacks. P/E = forward, ROE and operating margin = TTM, revenue growth = TTM YoY · sources: company IR · SEC · stockanalysis. Apple as of 2026-07-31; MSFT and GOOGL as of 2026-06-18.
Key Risk Factors (from 10-K)
●
China dependence and regulation— China accounts for roughly 15-18% of sales, with ongoing risks from local regulation, competition (e.g., Huawei), and manufacturing concentration (Foxconn).Source: Company 10-K Risk Factors
●
Antitrust and platform regulation— The EU Digital Markets Act (DMA) and the U.S. DOJ antitrust suit pressure App Store fees and default-app policies, potentially weighing on Services revenue.Source: Company 10-K · regulators
●
AI catch-up and longer upgrade cycles— Generative AI (Apple Intelligence) launched later than rivals, and lengthening smartphone upgrade cycles raise concerns about slowing hardware growth.Source: Industry · earnings calls
●
Valuation risk— At a 35x P/E and 42x P/B, valuation sits at the high end of its history; the 7.35% drop the day after fiscal Q3 results shows how a growth wobble can trigger a multiple de-rating.Source: stockanalysis
✦ ValueCrab Dashboard PreviewAAPL $308.91 -7.35% · as of 2026-07-31
Q. What are Apple's (AAPL) key value-investing metrics?P/E (TTM) 35.4, ROE 148.8% (buyback effect), operating margin 33.2%, net margin 27.6%, 9-year revenue CAGR +7.6%, and 9-year EPS CAGR +15.3% (sources: stockanalysis · SEC, as of 2026-07-31).
Q. What is the analyst price-target consensus for Apple?The average analyst target across 46 analysts is $322.11, with a $400 high and a $215 low. These are external consensus figures, not our own estimates, implying about +4.3% upside from the current $308.91. Source: stockanalysis, as of 2026-07-31.
Q. Apple's ROE is 149% — does that make it a great company?ROE is net income ÷ shareholders' equity, and Apple's large buybacks have sharply reduced equity (the denominator), pushing ROE above 100%. Profitability is genuinely very high, but the figure itself reflects capital-structure effects. We do not offer a definitive judgment.
Q. Is it expensive on Peter Lynch's PEG measure?PEG is highly sensitive to growth assumptions. On the facts alone, the forward P/E is about 33.6x and the TTM P/E is 35.4x, near the high end of Apple's history. We do not treat PEG as a buy signal and do not offer a valuation call.
Q. Who are Apple's main competitors?In smartphones and hardware, Samsung; in ecosystem, services, and AI, Microsoft and Google. Apple competes with Big Tech across cloud AI assistants and app platforms.