Apple Inc. (AAPL)
Information Technology · Technology Hardware, Storage & Peripherals · US stock · S&P 500 component
$348.22
▲ +4.23 (1.23%)
Fair valueFair
$289 −17.0% to fair value
$145fair band $246–$351$434
Day's range
$342.28 – $348.36
52-week range
$243.42 – $348.36
About Apple Inc.
Apple designs and sells consumer electronics, including the iPhone, Mac computers, iPad tablets, Apple Watch and accessories, along with the software that runs them. It also operates services such as the App Store, cloud storage, music and video subscriptions, and payments. The company earns money from hardware sales through its own stores, online and retail partners, and from recurring services revenue.
Revenue for the last twelve months was $466.8 billion, and it grew by 1.8% a year over three years. The operating margin is 33.2%, and return on invested capital reached 99%. Net debt to EBITDA is 0.1 times. It pays a dividend with a yield of 0.3%. Its X-Ray Score is 53 out of 100. These figures describe past results and say nothing certain about the future.
Price chart
52-wk range $243.42 – $348.36Volume 46,719,047Daily, split-adjusted
Vitals
Market cap$5.12T
52-week range$243.42 – $348.36
Volume (last day)46,719,047
P/E (TTM)40.0
EBIT / EV yield3.0%
Free-cash-flow yield2.7%
Dividend yield0.3%
Revenue (TTM)$466.8B
Net income (TTM)$128.9B
Operating margin33.2%
Return on capital98.9%
Debt incl. leases$84.3B
Cash & securities$62.4B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$289middle half of models $285 – $312
Fair
−17.0% to fair value
Average of the 11 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Medium, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $348
Undervalued < $246Fair $246 – $351Overvalued > $351
P/E multiple
$335
P/B multiple
$318
P/S multiple
$296
EV/EBITDA multiple
$302
EV/EBIT multiple
$304
EV/revenue multiple
$309
10-year DCF, EBITDA exit
$273
5-year DCF, EBITDA exit
$312
10-year DCF, revenue exit
$274
5-year DCF, revenue exit
$313
10-year DCF, growth exit · not used
$122
5-year DCF, growth exit · not used
$115
Dividend discount, stable · not used
$28
Dividend discount, multi-stage · not used
$52
Earnings power value
$144
Growth the price implies
26.7%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Strong business at a fair price
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Information Technology peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Weak
33/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield3.0%
Free-cash-flow yield2.7%
Fair value vs price0.8×
Growth
Weak
30/100
Growing slower than most of its sector.
See the numbers →
Revenue growth (3y)1.8%
EPS growth (3y)6.9%
Growth consistency90%
Profitability
Strong
82/100
Earns high returns on the capital it uses.
See the numbers →
Return on invested capital98.9%
Operating margin33.2%
Gross profitability59.3%
Financial health
Fair
66/100
Balance sheet is in typical shape for its sector.
See the numbers →
Piotroski F-Score8 / 9
Net debt / EBITDA0.1×
Interest coverNo interest cost
Dividends
Weak
47/100
Dividend is modest or less certain than peers.
See the numbers →
Dividend yield0.3%
Dividends vs free cash flow11%
Dividend growth1.3%
Quarterly results: last 6 quarters
+5.1%
Mar '25
+9.6%
Jun '25
+7.9%
Sep '25
+15.7%
Dec '25
+16.6%
Mar '26
+16.4%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $109.4B, diluted EPS $2.02.
Compare with peers
SNDK Sandisk Corp73 SMCI Super Micro Computer,...58 STX Seagate Technology Hol...56 NTAP NetApp, Inc.54Other Technology Hardware, Storage & Peripherals companies by X-Ray Score.
SWOT analysis: Apple Inc.
Strengthsinside the company
- Return on invested capital is 98.9%, against a median of 52.7% for industry peers.
- Operating margin of 33.2% is well above the 9.4% median of industry peers, a sign of pricing power or lower costs.
- Net debt is only 0.1x EBITDA.
- Operating profit covers interest 50x, so debt costs are a small drag.
Weaknessesinside the company
- No clear weakness in the figures we track.
Opportunitiesvaluation and setting
- Revenue growth picked up to 6.4% last year from 1.8% a year over three years.
- Our Market Compass rates the backdrop for Information Technology as favourable.
- Price momentum is strong on the weekly and monthly signals (trends can reverse).
Threatsvaluation and setting
- Trades at 39.7x earnings, 53% above the 26.0x median of industry peers, so the price already assumes better results.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare AAPL with peers and sector
Medians of 9 Technology Hardware, Storage & Peripherals peers and of 74 Information Technology stocks in our universe.
Largest peers (X-Ray Score): DELL 53, SNDK 73, STX 56, WDC 52, HPE 45, NTAP 54.
| Metric | AAPL | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 53 | 53 | 50 |
| Valuation | 33 | 59 | 52 |
| Growth | 30 | 73 | 54 |
| Profitability | 82 | 52 | 49 |
| Financial health | 66 | 51 | 49 |
| Dividends | 47 | 43 | 51 |
Sector leaders: highest X-Ray Score in Information Technology
AAPL ranks #34 of 75 in Information Technology and #6 of 10 in Technology Hardware, Storage & Peripherals by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for AAPL
Each factor is rated by where AAPL stands among the 75 Information Technology stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 10 Good · 5 Average · 8 Bad of 23
Growth: 0 · 1 · 2
Profitability: 4 · 0 · 1
Financial strength: 3 · 0 · 1
Valuation: 0 · 3 · 2
Cash flow: 1 · 1 · 2
Efficiency: 2 · 0 · 0
| Factor | AAPL | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +1.8% | Bad beats 22% | +9.7% | – | – |
| Revenue growth, last year | +6.4% | Bad beats 17% | +13.7% | +6.4% | ≈ In line |
| EPS growth, 3 years a year | +6.9% | Average beats 52% | +5.9% | – | – |
| Profitability | |||||
| Gross margin | 48.7% | Bad beats 33% | 57.8% | 44.1% | ▲ Better |
| Operating margin | 33.2% | Good beats 74% | 20.3% | 30.3% | ≈ In line |
| Net margin | 27.6% | Good beats 73% | 17.8% | 25.3% | ≈ In line |
| Return on invested capital | 98.9% | Good beats 95% | 19.4% | – | – |
| Return on equity | 119.9% | Good beats 95% | 21.0% | 156.1% | ▼ Worse |
| Financial strength | |||||
| Net debt / EBITDA | 0.1x | Good beats 69% | 0.8x | 0.4x | ≈ In line |
| Interest cover | 50.0x | Good beats 75% | 23.0x | 40.7x | ▲ Better |
| Current ratio | 1.00 | Bad beats 25% | 1.57 | 0.89 | ▲ Better |
| Piotroski F-score | 8 / 9 | Good beats 89% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 39.7x | Average beats 41% | 33.6x | 27.9x | ▼ Worse |
| Price / book | 47.7x | Bad beats 8% | 8.3x | 48.5x | ≈ In line |
| Price / sales | 11.0x | Bad beats 29% | 6.9x | 7.1x | ▼ Worse |
| EV / EBITDA | 30.6x | Average beats 40% | 24.7x | 21.9x | ▼ Worse |
| Free cash flow yield | 2.7% | Average beats 40% | 3.4% | 3.7% | ▼ Worse |
| Cash flow | |||||
| Free cash flow margin | 29.3% | Good beats 67% | 22.3% | 26.0% | ▲ Better |
| Cash from operations / net income | 1.14 | Bad beats 28% | 1.39 | 1.14 | ≈ In line |
| Free cash flow growth, 3 years a year | −3.9% | Bad beats 12% | +15.4% | – | – |
| Accruals (lower is better) | −4.6% | Average beats 51% | −4.4% | – | – |
| Efficiency | |||||
| Inventory turnover | 21.6x | Good beats 95% | 3.9x | 33.8x | ▼ Worse |
| Days sales outstanding | 25 days | Good beats 95% | 63 days | 28 days | ≈ In line |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 6 Good · ● 6 Average · ● 4 BadCash quality
Earnings backed by cashAverage
Free-cash-flow yieldAverage
Risk models
Altman Z''Average
Piotroski F-ScoreGood
Growth
EPS growth (3y)Average
Free-cash-flow growth (3y)Bad
Revenue growth (3y)Bad
Growth consistencyAverage
Balance sheet
Current ratioBad
Net debt / EBITDAGood
Interest coverGood
Valuation
Fair value vs priceBad
EBIT / EV yieldAverage
Profitability
Return on invested capitalGood
Operating marginGood
Gross profitabilityGood
Each check is graded against the company's sector, not a fixed number. Checklist score 53/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $365.8B | $394.3B | $383.3B | $391.0B | $416.2B |
| Operating income | $108.9B | $119.4B | $114.3B | $123.2B | $133.1B |
| Net income | $94.7B | $99.8B | $97.0B | $93.7B | $112.0B |
| Operating cash flow | $104.0B | $122.2B | $110.5B | $118.3B | $111.5B |
| Operating margin | 29.8% | 30.3% | 29.8% | 31.5% | 32.0% |
| Free cash flow | $93.0B | $111.4B | $99.6B | $108.8B | $98.8B |
| Diluted EPS | $5.61 | $6.11 | $6.13 | $6.08 | $7.46 |
Fiscal years, from SEC filings.
Technical summary
Daily
Strongly bullish
12 bullish · 1 neutral · 3 bearish
Weekly
Strongly bullish
11 bullish · 1 neutral · 0 bearish
Monthly
Strongly bullish
7 bullish · 0 neutral · 1 bearish
Moving averages (daily)
| SMA 10 | 342.2 | Bullish |
| EMA 10 | 342.3 | Bullish |
| SMA 20 | 338.6 | Bullish |
| EMA 20 | 339.2 | Bullish |
| SMA 50 | 328.6 | Bullish |
| EMA 50 | 331.0 | Bullish |
| SMA 100 | 318.9 | Bullish |
| EMA 100 | 319.1 | Bullish |
| SMA 200 | 293.7 | Bullish |
| EMA 200 | 300.2 | Bullish |
Oscillators (daily)
| RSI (14) | 64.76 | Neutral |
| MACD (12, 26) | 4.20 | Bullish |
| Momentum (12) | 4.37 | Bullish |
| Stochastic %K (14) | 99.21 | Bearish |
| Williams %R (14) | -0.79 | Bearish |
| CCI (20) | 119.9 | Bearish |
Pivot points (classic, last session)
S3 338.1 | S2 340.2 | S1 344.2 | Pivot 346.3 | R1 350.3 | R2 352.4 | R3 356.4 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
1.06 USD
Yield on today's price
0.30%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 0.2700 | |
| 0.2700 | |
| 0.2600 | |
| 0.2600 | |
| 0.2600 | |
| 0.2600 | |
| 0.2500 | |
| 0.2500 | |
| 0.2500 | |
| 0.2500 | |
| 0.2400 | |
| 0.2400 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ETFs that hold AAPL
| ETF | Share of the fund |
|---|---|
| FTEC Fidelity MSCI Information Technology I... | 16.21% |
| VGT Vanguard Information Technology | 14.57% |
| TOPT iShares Top 20 U.S. Stocks | 13.59% |
| IYW iShares U.S. Technology | 13.15% |
| XLK Technology Select Sector SPDR | 12.85% |
| TRUT VanEck Technology TruSector | 12.69% |
| MGK Vanguard Mega Cap Growth | 12.17% |
| SPUS SP Funds S&P 500 Sharia Industry Exclu... | 12.06% |
The eight funds with the largest weight in AAPL among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
AAPL stock splits
AAPL has split its stock 4 times since 2000. The latest was a 4-for-1 split on 31 Aug 2020.
Full AAPL stock split history →AAPL SEC filings
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Director or officer change
8-KSEC EDGAR
Shareholder vote results
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.