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NasdaqGS · Technology · Financials

Apple Inc (AAPL) financial statements and cash flow.

Revenue, profitability, balance-sheet strength, and cash generation for AAPL. Market data source · as of 2026-03-28.

Section freshness

Price Jul 24, 4:00 PM EDT · Statements Mar 27, 8:00 PM EDT

Financial read

AAPL latest financial snapshot.

Start with the latest reported values below. Deeper quarterly and annual statement tables follow when supplied.

Revenue

$111.18B

-10.6% YoY

Net income

$29.58B

-29.7% QoQ

Gross margin

49.27%

Gross profit $54.78B

Net margin

26.60%

Operating margin 32.28%

Balance sheet coverage

AAPL balance sheet summary

Assets, liabilities, liquidity, debt, and equity sit beside income and cash-flow tables so the statement history reads as one model-ready dataset.

20 quarterly · 4 annual rows · Market data source · as of 2026-03-28

Open balance sheet table

Latest period

Q1 FY2026

20 quarterly · 4 annual rows

Assets / liabilities

$371.08B

Liabilities $264.59B

Cash / debt

$45.57B

Net cash -$37.14B

Equity / working capital

$106.49B

Working capital $9.47B

Financial statements

AAPL statement coverage.

Income statement, balance sheet, and cash-flow figures for AAPL, with quarterly and annual history in the tables below.

Data last updated

Mar 27, 2026

Income periods

Balance-sheet periods

Cash-flow periods

Quarterly and annual AAPL statements, sourced from Market data source · as of 2026-03-28.

Financial statement period

AAPL statement history

Market data source · as of 2026-03-28 · Data last updated: Mar 27, 2026

ProfitabilityIncome statementRevenue, expenses, margins, and income quality20 quarterly periods Capital structureBalance sheetAssets, liabilities, debt, equity, and share count20 quarterly periods Cash generationCash flowOperating cash flow, CapEx, FCF, buybacks, and dividends20 quarterly periods

Income statement

Quarterly and annual rows for revenue, operating leverage, earnings quality, and margin direction.

8 / 20 Quarterly

Period	Revenue	Gross profit	Operating income	Net income	Net margin	Revenue QoQ	Net income QoQ
Q1 FY2026	$111.18B	$54.78B	$35.88B	$29.58B	26.60%	-22.7%	-29.7%
Q4 FY2025	$143.76B	$69.23B	$50.85B	$42.10B	29.28%	+52.9%	+79.6%
Q2 FY2025	$94.04B	$43.72B	$28.20B	$23.43B	24.92%	-1.4%	-5.4%
Q1 FY2025	$95.36B	$44.87B	$29.59B	$24.78B	25.99%	-23.3%	-31.8%
Q4 FY2024	$124.30B	$58.27B	$42.83B	$36.33B	29.23%	+44.9%	+69.4%
Q2 FY2024	$85.78B	$39.68B	$25.35B	$21.45B	25.00%	-5.5%	-9.3%
Q1 FY2024	$90.75B	$42.27B	$27.90B	$23.64B	26.04%	-24.1%	-30.3%
Q4 FY2023	$119.58B	$54.85B	$40.37B	$33.92B	28.36%	+46.2%	+70.6%

Balance sheet

Balance-sheet history for assets, liabilities, liquidity, debt, equity, and shares outstanding.

8 / 20 Quarterly

Period	Cash	Current assets	Current liabilities	Total assets	Total liabilities	Total debt	Total equity	Debt QoQ
Q1 FY2026	$45.57B	$144.11B	$134.64B	$371.08B	$264.59B	$82.71B	$106.49B	-6.6%
Q4 FY2025	$45.32B	$158.10B	$162.37B	$379.30B	$291.11B	$88.51B	$88.19B	-2.4%
Q3 FY2025	$35.93B	$147.96B	$165.63B	$359.24B	$285.51B	$90.68B	$73.73B	-1.2%
Q2 FY2025	$36.27B	$122.49B	$141.12B	$331.50B	$265.67B	$91.78B	$65.83B	-0.5%
Q1 FY2025	$28.16B	$118.67B	$144.57B	$331.23B	$264.44B	$92.20B	$66.80B	-2.7%
Q4 FY2024	$30.30B	$133.24B	$144.37B	$344.08B	$277.33B	$94.80B	$66.76B	-1.9%
Q3 FY2024	$29.94B	$152.99B	$176.39B	$364.98B	$308.03B	$96.66B	$56.95B	-1.7%
Q2 FY2024	$25.57B	$125.44B	$131.62B	$331.61B	$264.90B	$98.31B	$66.71B	-4.2%

Cash flow

Operating cash generation, capital expenditure, free cash flow, buybacks, dividends, and cash movement.

8 / 20 Quarterly

Period	Operating cash flow	CapEx	Free cash flow	Net income	Stock comp	Debt issuance	Dividends paid	Buybacks	Change in cash	FCF QoQ
Q1 FY2026				$29.58B
Q4 FY2025				$42.10B
Q2 FY2025				$23.43B
Q1 FY2025				$24.78B
Q4 FY2024				$36.33B
Q2 FY2024				$21.45B
Q1 FY2024				$23.64B
Q4 FY2023				$33.92B

Valuation and returns

Enterprise value: $4.86T; Market data source

Return on equity: 1.47%; Market data source

Return on assets: 33.03%; Market data source

Debt / equity: 0.78; Current ratio 1.07

Ratio values use provider-attributed fields when available and otherwise fall back to TECHi statement math from the visible rows on this page.

Annual revenue and income multiples

Annual sales and income multiple reads use the latest annual statement when available, then fall back to trailing-twelve-month statement math from the visible quarterly rows.

Annual revenue base: $378.00B; Annual statement 2023-12-30

Annual income base: $97.84B; Annual statement 2023-12-30

Market cap / annual revenue: 12.94; Live market value divided by annual revenue

Market cap / annual income: 49.99; Live market value divided by annual net income

Annual sales and income multiple

EV / annual revenue12.86

EV / annual operating income42.39

Market capitalization bridge

Market cap / annual revenue12.94

Market cap / annual income49.99

TTM valuation multiples

TTM revenue: $444.33B; Trailing twelve months

TTM EBIT: $144.53B; TTM operating income

Market cap / TTM revenue: 11.01; Live market value divided by trailing twelve months revenue

EV / TTM revenue: 10.94; Enterprise value divided by trailing twelve months revenue

Live market value is matched against trailing-twelve-month statement bases first so the multiple moves with the tape instead of anchoring to stale fiscal-year rows.

Profit multiples

Market cap / TTM net income40.80

EV / TTM EBIT33.64

Revenue, net income, and free cash flow

Revenue$111.18BNet income$29.58B

Q2 FY2024Q2 FY2025Q1 FY2026

Quarterly statement rows, shown on one common dollar scale so margin compression and cash conversion stand out quickly.

Efficiency

Revenue / employee: $2.71M; 164,000 employees

Net income / employee: $731,030.488; TTM net income divided by employees

Market cap / employee: $29.82M; Live value per employee

Growth vs cost pressure

Revenue growth YoY-10.6%

Debt growth YoY-10.3%

Operating expense growth YoY+22.4%

Quarterly margin heatmap

Gross margin

Q2 FY2024

46.26%

Q4 FY2024

46.88%

Q1 FY2025

47.05%

Q2 FY2025

46.49%

Q4 FY2025

48.16%

Q1 FY2026

49.27%

Operating margin

Q2 FY2024

29.56%

Q4 FY2024

34.46%

Q1 FY2025

31.03%

Q2 FY2025

29.99%

Q4 FY2025

35.37%

Q1 FY2026

32.28%

Net margin

Q2 FY2024

25.00%

Q4 FY2024

29.23%

Q1 FY2025

25.99%

Q2 FY2025

24.92%

Q4 FY2025

29.28%

Q1 FY2026

26.60%

Latest quarter expense mix

Cost of revenue$56.40B

Operating expenses$18.90B

R&D$11.42B

SG&A$7.48B

Profit bridge

EBIT$35.88B

Pretax income$35.83B

Tax expense$6.25B

Other income statement lines

Income before tax$35.83B

Income tax expense$6.25B

Balance sheet · Q1 FY2026

Cash & equivalents: $45.57B

Total debt: $82.71B

Net cash: -$37.14B; Net debt position

Total equity: $106.49B

Balance sheet detail

Current assets: $144.11B

Current liabilities: $134.64B

Inventory: $6.75B

Receivables: $30.34B

Property, plant & equipment: $50.12B

Current debt: $8.31B

Long-term debt: $74.40B

Debt and liquidity

Debt / revenuei0.19

Debt / income0.69

Cash / debt0.55

Quick ratioi0.56

Cash + short-term investments + receivables / current liabilities

Cash generation

Frequently asked

Common questions.

What financial data is available for AAPL?

The AAPL Financials page renders only the current income-statement, balance-sheet, cash-flow, or fund rows supplied for Apple Inc. Missing modules and empty line items are omitted.

How current are AAPL's financial statements?

Each visible statement row keeps its reported period and provider attribution. The route redirects to the main quote when no usable financial or fund data remains.

What is Apple Inc's reported net margin?

Apple Inc's fresh reported margin field is 27.15%. The Financials page shows the supporting period data currently available for AAPL.