Apple Inc.
Profit after direct costs
Core business profitability
Bottom line profitability
Top line growth rate
Flow of revenue through cost categories to net income
| Item | Trend | 2021 | 2022 | 2023 | 2024 | 2025 | YoY Change |
|---|---|---|---|---|---|---|---|
Total Revenue | 365.82B | 394.33B | 383.29B | 391.04B | 416.16B | 6.4% | |
| Cost of Revenue | (212.98B) | (223.55B) | (214.14B) | (210.35B) | (220.96B) | 5.0% | |
Gross Profit | 152.84B | 170.78B | 169.15B | 180.68B | 195.20B | 8.0% | |
| Operating Expenses | |||||||
| Research & Development | (21.91B) | (26.25B) | (29.91B) | (31.37B) | (34.55B) | 10.1% | |
| Selling, General & Administrative | (21.97B) | (25.09B) | (24.93B) | (26.10B) | (27.60B) | 5.8% | |
| General & Administrative | — | — | — | (7.46B) | (27.60B) | 270.1% | |
| Depreciation & Amortization | (11.28B) | (11.10B) | (11.52B) | (11.45B) | (11.70B) | 2.2% | |
Operating Income (EBIT) | 108.95B | 119.44B | 114.30B | 123.22B | 133.05B | 8.0% | |
| Non-Operating Items | |||||||
| Interest Income | 2.84B | 2.83B | 3.75B | — | — | — | |
| Interest Expense | (2.65B) | (2.93B) | (3.93B) | — | — | — | |
| Other Income/Expenses (Net) | 258.00M | -334.00M | -565.00M | 269.00M | -321.00M | -219.3% | |
Income Before Tax | 109.21B | 119.10B | 113.74B | 123.48B | 132.73B | 7.5% | |
| Income Tax Expense | (14.53B) | (19.30B) | (16.74B) | (29.75B) | (20.72B) | -30.4% | |
Net Income | 94.68B | 99.80B | 97.00B | 93.74B | 112.01B | 19.5% | |
| Per Share Metrics | |||||||
| Earnings Per Share (Basic) | $6 | $6 | $6 | $6 | $7 | 22.6% | |
| Weighted Avg Shares Outstanding | 16.70B | 16.22B | 15.74B | 15.34B | 14.95B | -2.6% | |
| Weighted Avg Shares Outstanding (Diluted) | 16.86B | 16.33B | 15.81B | 15.41B | 15.00B | -2.6% | |
EBITDA | 123.14B | 133.14B | 129.19B | 134.93B | 144.43B | 7.0% |
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