Apple Inc.AAPL
NasdaqGS•Technology•Consumer Electronics
Apple Inc. designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple Vision Pro, Apple TV, Apple Watch, Beats products, and HomePod, as well as Apple branded and third-party accessories. It also provides AppleCare support and cloud services; and operates various platforms, including the App Store that allow customers to discover and download applications and digital content, such as books, music, video, games, and podcasts, as well as advertising services include third-party licensing arrangements and its own advertising platforms. In addition, the company offers various subscription-based services, such as Apple Arcade, a game subscription service; Apple Fitness+, a personalized fitness service; Apple Music, which offers users a curated listening experience with on-demand radio stations; Apple News+, a subscription news and magazine service; Apple TV, which offers exclusive original content and live sports; Apple Card, a co-branded credit card; and Apple Pay, a cashless payment service, as well as licenses its intellectual property. The company serves consumers, and small and mid-sized businesses; and the education, enterprise, and government markets. It distributes third-party applications for its products through the App Store. The company also sells its products through its retail and online stores, and direct sales force; and third-party cellular network carriers and resellers. The company was formerly known as Apple Computer, Inc. and changed its name to Apple Inc. in January 2007. Apple Inc. was founded in 1976 and is headquartered in Cupertino, California.
Apple Inc. (AAPL) reported trailing twelve months revenue of $451.44B as of March 2026, a 12.8% increase year-over-year. Quarterly revenue reached $111.18B, reflecting continued top-line momentum.
Apple Inc. generated $122.58B in TTM net income, with quarterly EBITDA of $39.32B. The operating margin expanded from 31.0% to 32.3%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (32.3%) and net margin (26.6%) indicates moderate non-operating costs. Net margin has improved from 26.0% a year ago, signaling stronger bottom-line efficiency.
AAPL trades at a P/E of 29.8x (in line with broad market averages) and a P/S of 8.1x. The price-to-book ratio of 34.3x indicates a significant premium over book value.
The company generated $26.73B in free cash flow over the trailing twelve months, a 28.0% increase year-over-year, indicating cash generation ability. The balance sheet shows $371.08B in total assets with $74.40B in long-term debt against $106.49B in stockholders equity for a debt-to-equity ratio of 0.7. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~31.9%, suggesting durable pricing power and cost discipline.
Consistently high ROE averaging 144.8% suggests a durable competitive advantage and efficient capital allocation.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (7 of 7 quarters up), with ~17.1% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~32.3% — no sign of cost or pricing stress.
FCF covers net income by 1.1x on average — earnings are well-supported by cash generation.
D/E ratio is 0.7 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 4.0% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation