Apple Inc.
AAPLNASDAQ
$351.14
Last price · USD
- Market cap
- $5.27T
- P/E
- 47.1x
- EV / EBITDA
- 37.0x
- P/S
- 12.7x
- FCF yield
- 1.9%
- Div. yield
- 0.29%
Multiples use last price and FY2025 annual figures. Market cap estimated from diluted shares.
Apple Inc. cash flow statement
Annual · USD millions except per-share data · 36 lines
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 | CAGR | |
|---|---|---|---|---|---|---|---|
| Operating activities | |||||||
| Net income | 112,010 | 93,736 | 96,995 | 99,803 | 94,680 | +4.3% | |
| Depreciation & amortization | 11,698 | 11,445 | 11,519 | 11,104 | 11,284 | +0.9% | |
| Deferred income tax | 0 | 0 | 0 | 895 | (4,774) | — | |
| Stock-based compensation | 12,863 | 11,688 | 10,833 | 9,038 | 7,906 | +12.9% | |
| Change in working capital | (25,000) | 3,651 | (6,577) | 1,200 | (4,911) | — | |
| Accounts receivables | (7,029) | (5,144) | (417) | (9,343) | (14,028) | — | |
| Inventory | 1,400 | (1,046) | (1,618) | 1,484 | (2,642) | — | |
| Accounts payables | 902 | 6,020 | (1,889) | 9,448 | 12,326 | -48.0% | |
| Other working capital | (20,273) | 3,821 | (2,653) | (389) | (567) | — | |
| Other non-cash items | (89) | (2,266) | (2,227) | 111 | (147) | — | |
| Net cash from operating activities | 111,482 | 118,254 | 110,543 | 122,151 | 104,038 | +1.7% | |
| Operating cash flow | 111,482 | 118,254 | 110,543 | 122,151 | 104,038 | +1.7% | |
| Investing activities | |||||||
| Investments in PP&E | (12,715) | (9,447) | (10,959) | (10,708) | (11,085) | — | |
| Capital expenditure | (12,715) | (9,447) | (10,959) | (10,708) | (11,085) | — | |
| Acquisitions, net | 0 | 0 | 0 | (306) | (33) | — | |
| Purchases of investments | (24,407) | (48,656) | (29,513) | (76,923) | (109,558) | — | |
| Sales / maturities of investments | 53,797 | 62,346 | 45,514 | 67,363 | 106,483 | -15.7% | |
| Other investing activities | (1,480) | (1,308) | (1,337) | (1,780) | (352) | — | |
| Net cash from investing activities | 15,195 | 2,935 | 3,705 | (22,354) | (14,545) | — | |
| Financing activities | |||||||
| Net debt issuance | (8,483) | (5,998) | (9,901) | (123) | 12,665 | — | |
| Short-term net debt issuance | (2,032) | 3,960 | (3,978) | 3,955 | 1,022 | — | |
| Long-term net debt issuance | (6,451) | (9,958) | (5,923) | (4,078) | 11,643 | — | |
| Net stock issuance | (90,711) | (94,949) | (77,550) | (89,402) | (84,866) | — | |
| Common stock issuance | 0 | 0 | 0 | 0 | 1,105 | — | |
| Common stock repurchased | (90,711) | (94,949) | (77,550) | (89,402) | (85,971) | — | |
| Net common stock issuance | (90,711) | (94,949) | (77,550) | (89,402) | (84,866) | — | |
| Common dividends paid | (15,421) | (15,234) | (15,025) | (14,841) | (14,467) | — | |
| Net dividends paid | (15,421) | (15,234) | (15,025) | (14,841) | (14,467) | — | |
| Other financing activities | (6,071) | (5,802) | (6,012) | (6,383) | (6,685) | — | |
| Net cash from financing activities | (120,686) | (121,983) | (108,488) | (110,749) | (93,353) | — | |
| Cash summary | |||||||
| Net change in cash | 5,991 | (794) | 5,760 | (10,952) | (3,860) | — | |
| Cash at beginning of period | 29,943 | 30,737 | 24,977 | 35,929 | 39,789 | -6.9% | |
| Cash at end of period | 35,934 | 29,943 | 30,737 | 24,977 | 35,929 | 0.0% | |
| Free cash flow | 98,767 | 108,807 | 99,584 | 111,443 | 92,953 | +1.5% | |
| Income taxes paid | 43,369 | 26,102 | 18,679 | 19,573 | 25,385 | +14.3% | |
| Interest paid | 0 | 0 | 3,803 | 2,865 | 2,687 | — | |