AAPL: the annual earnings and cash-flow comparison
A two-period review of AAPL revenue, profitability and cash conversion; reported revenue growth was 6.43%.
Data through 2025-09-27
AAPL / Technology
Electronic Computers
Apple Inc. is an SEC-reporting issuer listed on NASDAQ under AAPL. Its SEC industry description is Electronic Computers. This profile organizes annual financial disclosures for research; sector labels are editorial groupings, not GICS classifications.
Product cycles, recurring software revenue and infrastructure investment shape this broad group. Hardware and software businesses have different cost structures.
Segment-level revenue is not included in this standardized dataset. Consult the business and segment notes in the linked annual filing for the issuer’s actual reporting segments.
Annual reporting currency: USD. Financial amounts are in millions, except per-share figures and ratios.
| Metric | 2025-09-27 | 2024-09-28 | Source filed |
|---|---|---|---|
| Revenue | USD 416,161m | USD 391,035m | 2025-10-31 |
| Operating income | USD 133,050m | USD 123,216m | 2025-10-31 |
| Net income | USD 112,010m | USD 93,736m | 2025-10-31 |
| Diluted EPS | USD 7.46 | USD 6.08 | 2025-10-31 |
| Operating cash flow | USD 111,482m | USD 118,254m | 2025-10-31 |
| Capital expenditure | USD 12,715m | USD 9,447m | 2025-10-31 |
| Free cash flow | USD 98,767m | USD 108,807m | 2025-10-31 |
| Gross margin | 46.91% | 46.21% | 2025-10-31 |
| Operating margin | 31.97% | 31.51% | 2025-10-31 |
FCF = operating cash flow − purchases of property, plant and equipment. Missing tags remain unavailable. Standardized cash-flow comparisons are particularly limited for financial businesses.
{
"revenue": {
"start": "2024-09-29",
"end": "2025-09-27",
"val": 416161000000,
"accn": "0000320193-25-000079",
"fy": 2025,
"fp": "FY",
"form": "10-K",
"filed": "2025-10-31",
"frame": "CY2025",
"tag": "us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax",
"unit": "USD"
},
"netIncome": {
"start": "2024-09-29",
"end": "2025-09-27",
"val": 112010000000,
"accn": "0000320193-25-000079",
"fy": 2025,
"fp": "FY",
"form": "10-K",
"filed": "2025-10-31",
"frame": "CY2025",
"tag": "us-gaap:NetIncomeLoss",
"unit": "USD"
},
"grossProfit": {
"start": "2024-09-29",
"end": "2025-09-27",
"val": 195201000000,
"accn": "0000320193-25-000079",
"fy": 2025,
"fp": "FY",
"form": "10-K",
"filed": "2025-10-31",
"frame": "CY2025",
"tag": "us-gaap:GrossProfit",
"unit": "USD"
},
"operatingIncome": {
"start": "2024-09-29",
"end": "2025-09-27",
"val": 133050000000,
"accn": "0000320193-25-000079",
"fy": 2025,
"fp": "FY",
"form": "10-K",
"filed": "2025-10-31",
"frame": "CY2025",
"tag": "us-gaap:OperatingIncomeLoss",
"unit": "USD"
},
"eps": {
"start": "2024-09-29",
"end": "2025-09-27",
"val": 7.46,
"accn": "0000320193-25-000079",
"fy": 2025,
"fp": "FY",
"form": "10-K",
"filed": "2025-10-31",
"frame": "CY2025",
"tag": "us-gaap:EarningsPerShareDiluted",
"unit": "USD/shares"
},
"operatingCashFlow": {
"start": "2024-09-29",
"end": "2025-09-27",
"val": 111482000000,
"accn": "0000320193-25-000079",
"fy": 2025,
"fp": "FY",
"form": "10-K",
"filed": "2025-10-31",
"frame": "CY2025",
"tag": "us-gaap:NetCashProvidedByUsedInOperatingActivities",
"unit": "USD"
},
"capex": {
"start": "2024-09-29",
"end": "2025-09-27",
"val": 12715000000,
"accn": "0000320193-25-000079",
"fy": 2025,
"fp": "FY",
"form": "10-K",
"filed": "2025-10-31",
"frame": "CY2025",
"tag": "us-gaap:PaymentsToAcquirePropertyPlantAndEquipment",
"unit": "USD"
},
"totalAssets": {
"end": "2025-09-27",
"val": 359241000000,
"accn": "0000320193-25-000079",
"fy": 2025,
"fp": "FY",
"form": "10-K",
"filed": "2025-10-31",
"tag": "us-gaap:Assets",
"unit": "USD"
},
"totalLiabilities": {
"end": "2025-09-27",
"val": 285508000000,
"accn": "0000320193-25-000079",
"fy": 2025,
"fp": "FY",
"form": "10-K",
"filed": "2025-10-31",
"tag": "us-gaap:Liabilities",
"unit": "USD"
},
"shareholdersEquity": {
"end": "2025-09-27",
"val": 73733000000,
"accn": "0000320193-25-000079",
"fy": 2025,
"fp": "FY",
"form": "10-K",
"filed": "2025-10-31",
"tag": "us-gaap:StockholdersEquity",
"unit": "USD"
},
"currentAssets": {
"end": "2025-09-27",
"val": 147957000000,
"accn": "0000320193-25-000079",
"fy": 2025,
"fp": "FY",
"form": "10-K",
"filed": "2025-10-31",
"tag": "us-gaap:AssetsCurrent",
"unit": "USD"
},
"currentLiabilities": {
"end": "2025-09-27",
"val": 165631000000,
"accn": "0000320193-25-000079",
"fy": 2025,
"fp": "FY",
"form": "10-K",
"filed": "2025-10-31",
"tag": "us-gaap:LiabilitiesCurrent",
"unit": "USD"
}
}Reported fiscal periods, not a live price chart.
Interactive chart loads in the browser. The full annual values are available below.
| Period end | Revenue | Net income | EPS |
|---|---|---|---|
| 2025-09-27 | USD 416,161m | USD 112,010m | USD 7.46 |
| 2024-09-28 | USD 391,035m | USD 93,736m | USD 6.08 |
| 2023-09-30 | USD 383,285m | USD 96,995m | USD 6.13 |
| 2022-09-24 | USD 394,328m | USD 99,803m | USD 6.11 |
This release does not quote price-based multiples because it does not include synchronized market prices. A financial denominator must be paired with a clearly dated market value.
| Measure | Interpretation |
|---|---|
| P/E | Price divided by EPS; identify annual, trailing or forward basis. |
| P/S & P/B | Market capitalization divided by sales or book equity. |
| EV / EBITDA | Enterprise value and EBITDA need consistent definitions. |
| FCF yield | Free cash flow divided by dated market capitalization. |
A sector median is descriptive, not a fair-value estimate. Explore sector context ↗
AAPL filed this 10-K on 2025-10-31 for the reported period 2025-09-27. Reading focus: Revenue mix, research spending, inventory and cash conversion. This is a metadata-based reading guide; it does not assert that a particular event or risk change occurred in the document.
Read SEC original ↗A two-period review of AAPL revenue, profitability and cash conversion; reported revenue growth was 6.43%.
Annual revenue of USD 416.161 billion and net income of USD 112.010 billion for the period ended 2025-09-27.
Customer concentration, product transitions, export restrictions and the durability of capital spending.
Revenue mix, research spending, inventory and cash conversion.