Stock · AAPL · Technology

Apple Inc.

United States · Large Cap · listed since 1980 · Revenue 12 mo. $466.8B

Price as of 11/06/2026

4.5

of 10 5 of 11 points Low Match To the score

Price: $342.37; 1 Y +17.3%
Market cap: $5.1T
Phase: Payout; core business profitable, at least half of operating cash flow goes to shareholders; Revenue +1.8% a year (3 years)EBIT margin 32.0%Payout 95.5% of operating cash flow

Business and risks according to the 2025 annual report

Summary

Apple Inc. is around the middle of the Technology sector overall

57.2 of 100

Mean of the six area values. Each area value is the mean of the stock's ranks among the companies in its sector. 50 is the middle of the sector, not a share of companies beaten.

Profitability78.3above the middle
Growth46.0around the middle
Valuation31.5below the middle
Momentum82.1above the middle
Quality66.1above the middle
Balance sheet & risk39.4below the middle

Analysis

What the price requires

The price requires 21.4% FCF growth a year, more than achieved over the last 5 and 10 years.

If free cash flow stays at €88.6B (2025), it supports €984.8B. The remaining €3.6T of the market value assume it grows 21.4% a year for 10 years and not at all afterwards.

Required FCF growth per year

21.4%

Discount rate

Period

no growth afterwards

Market value breakdown€4.6T market value, price as of 11/06/2026

€984.8B without growth

€3.6T priced-in growth

5 yrs achieved 3.4%
10 yrs achieved 7.5%
priced in 21.4%

Valuation against its own history

Price to operating cash flow 34.3×, above its usual range.

Middle half of 20 quarters: 24.0× to 29.2×, median 26.4×.

Measures only against its own past, not against what the company is worth. Price as of 11/06/2026.

4 signs support the expectation, 1 speaks against it.

What supports it

with respect to the priced-in expectation

High, stable gross margin median 40.4%, range 9.1 pp (10 years)
High return on capital every year ROCE at least 22.4% (10 years)
Low capital needs capex median 3.0% of revenue (10 years)

1 more

Steady FCF margin at least 22.2%, range 6.1 pp (10 years)

What speaks against it

with respect to the priced-in expectation

Expectation above the company's own record priced in 21.4%, achieved at most 7.5%

AI summary of the 2025 annual report

The business of Apple Inc. according to its report

A language model selected and condensed statements from the report. Each statement carries a verbatim quote. The selection is not complete and shows the state of the report. It gives no rating and does not feed into the score.

Form 10-K, fiscal year ended 09/27/2025, filed 10/31/2025. Open the report at the SEC

Revenue by segment, fiscal year ended 09/27/2025

Segment	Share	Revenue
Americas	42.9%	$178.4B
Europe	26.7%	$111B
Greater China	15.5%	$64.4B
Rest of Asia Pacific	8.1%	$33.7B
Japan	6.9%	$28.7B

From the report's structured data (XBRL), not from the language model. The sum can differ slightly from group revenue.

Business model according to the report

The company designs, makes and sells smartphones, personal computers, tablets, wearables and accessories, plus related services.
Quote
The Company designs, manufactures and markets smartphones, personal computers, tablets, wearables and accessories, and sells a variety of related services.
The iPhone is the company's line of smartphones that runs on its iOS operating system.
Quote
iPhone® is the Company’s line of smartphones based on its iOS operating system.
The company runs several platforms, including the App Store, where customers find and download apps and digital content such as books, music and games.
Quote
The Company 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.
The company offers paid service and support products under the AppleCare brand.
Quote
The Company offers a portfolio of fee-based service and support products under the AppleCare® brand.
The company offers payment services, including Apple Card, a co-branded credit card, and Apple Pay, a cashless payment service.
Quote
The Company offers payment services, including Apple Card®, a co-branded credit card, and Apple Pay®, a cashless payment service.

Customers according to the report

The company's customers are mainly consumers, small and mid-sized businesses, education customers, large enterprises and governments.
Quote
The Company’s customers are primarily in the consumer, small and mid-sized business, education, enterprise and government markets.
The company sells its products and some services through mobile network carriers and other resellers, many of which also sell competitors' products.
Quote
The Company distributes its products and certain of its services through cellular network carriers and other resellers, many of which distribute products and services from competitors.

Competition according to the report

The markets are very competitive, with aggressive price competition, pressure on gross margins and price-sensitive consumers and businesses.
Quote
The markets for the Company’s products and services are highly competitive and are characterized by aggressive price competition, downward pressure on gross margins, continual improvement in product performance, and price sensitivity on the part of consumers and businesses.
The company says many competitors aim to compete mainly through aggressive pricing and very low cost structures, by copying its products and infringing its intellectual property.
Quote
Many of the Company’s competitors seek to compete primarily through aggressive pricing and very low cost structures, and by imitating the Company’s products and infringing on its intellectual property.
The company has a minority market share in the global smartphone, personal computer, tablet and wearables markets.
Quote
The Company has a minority market share in the global smartphone, personal computer, tablet and wearables markets

Risks according to the report

A large majority of manufacturing is done in whole or part by outsourcing partners, mainly in mainland China, India, Japan, South Korea, Taiwan and Vietnam.
Quote
A significant majority of the Company’s manufacturing is performed in whole or in part by outsourcing partners located primarily in China mainland, India, Japan, South Korea, Taiwan and Vietnam
The company gets some components from single or limited sources, which exposes it to significant supply and pricing risks.
Quote
Because the Company currently obtains certain components from single or limited sources, the Company is subject to significant supply and pricing risks.
Resellers offer financing, installment plans or subsidies for device purchases, and these may be stopped or changed at any time.
Quote
Resellers offer financing, installment payment plans or subsidies for users’ purchases of devices, and such plans may be discontinued or modified any time.

Since the last quarter

Q1 → Q2 2026

Mostly better than the previous quarter: 2 of 2 changes for the better.

FCF, 12 mo.$129.2B → $136.7B+5.8%better
Return on equity115.1% → 119.9%+4.8 ppbetter

6 more unchanged: Revenue, 12 mo., Gross margin, EBIT margin, FCF margin, Net debt, Shares outstanding

Derivation

How the sector comparison is derived

Each area value is the average of its metrics' ranks within the sector (0 to 100, 50 is the middle). For metrics where lower is better, the rank is mirrored. The overall value is the average of the area values.

Price as of 11/06/2026.

Profitability78.3above the middleEarns more than the sector: Return on equity 151.91%, sector 14.60%.

Metric	Stock	Sector median	Position in sector
Return on equity	151.91%	14.60%	Rank 100
Return on capital (Greenblatt)	217.98%	29.77%	Rank 93
EBIT margin	31.97%	17.40%	Rank 85
FCF margin	23.73%	18.54%	Rank 68
Gross margin	46.91%	48.47%	Rank 46

Growth46.0around the middleGrows about as fast as the sector.

Metric	Stock	Sector median	Position in sector
Revenue growth, 1 year	6.43%	12.70%	Rank 26
Earnings growth, 3 years per year	6.89%	9.54%	Rank 42
Earnings growth, 5 years per year	17.91%	14.07%	Rank 63
Sustainable growth (ROE × retained earnings)	3.06%	2.87%	Rank 53

Valuation31.5below the middleValued higher than the sector: EV/sales 12.37, sector 5.18.

Metric	Stock	Sector median	Position in sector
Earnings yield	2.18%	2.64%	Rank 40
FCF yield	1.94%	3.06%	Rank 35
EV/saleslower is better	12.37	5.18	Rank 20
EV/EBITlower is better	38.69	26.24	Rank 32

Momentum82.1above the middleShare price doing better than the sector: Distance from 52-week high −2.04%, sector −33.23%.

Metric	Stock	Sector median	Position in sector
Share price, 1 year	17.31%	−0.59%	Rank 73
Share price, 6 months	17.21%	−4.46%	Rank 75
Share price, 3 months	14.40%	−5.84%	Rank 85
Distance from 52-week high	−2.04%	−33.23%	Rank 96

Quality66.1above the middleQuality above the sector: Change in share count −2.62%, sector −0.17%.

Metric	Stock	Sector median	Position in sector
Accruals (Sloan)lower is better	−4.05%	1.65%	Rank 82
Change in share countlower is better	−2.62%	−0.17%	Rank 83
Dividend streak in years	13	8	Rank 81
Price reaction to results, market-adjusted	−7.55%	−1.57%	Rank 18

Balance sheet & risk39.4below the middleMore risk than the sector: Debt to equity 1.52, sector 0.33.

Metric	Stock	Sector median	Position in sector
Equity ratio	20.52%	53.98%	Rank 11
Net debt/EBITDAlower is better	0.40	−0.20	Rank 38
Debt to equitylower is better	1.52	0.33	Rank 9
Volatility, 1 yearlower is better	24.12%	50.37%	Rank 100

Ten years in figures

Revenue from $215.6B (2016) to $416.2B (2025), 7.6% a year.

Fiscal years, amounts in USD
Year	Revenue, $B	EBIT margin	FCF, $B	Shares	Net debt, $B
2016	215.6	27.8%	52.3	22.0B	66.5
2017	229.2	26.8%	50.8	21.0B	95.4
2018	265.6	26.7%	64.1	20.0B	88.6
2019	260.2	24.6%	58.9	18.6B	59.2
2020	274.5	24.2%	73.4	17.5B	74.4
2021	365.8	29.8%	93.0	16.9B	89.8
2022	394.3	30.3%	111.4	16.3B	97.2
2023	383.3	29.8%	99.6	15.8B	82.0
2024	391.0	31.5%	108.8	15.4B	79.1
2025	416.2	32.0%	98.8	15.0B	76.4

4.5 / 10Low MatchStockScorer score5 of 11 points

3 of 7 StockScorer Score rules met · How the score is built

Apple Inc. mainly meets criteria in the Profitability category. Result from 18 strategies checked.

Watch this stock See strategy overview →

How Apple Inc.'s score is built

Apple Inc. is rated here with the StockScorer Score strategy, the flagship rule set. It compares return and cash-flow metrics with the median of the company's own sector and checks growth and price trend.

3 of 7 rules met

5 of 11 points

Free cash flow yield above the sector mediannot met0 of 2 points
Return on capital (Greenblatt ROC) above the sector medianmet2 of 2 points
Return on equity above the sector medianmet1 of 1 point
Free cash flow margin above the sector medianmet2 of 2 points
Revenue growth above 15%not met0 of 2 points
3-year earnings growth above 12% p.a.not met0 of 1 point
12-month share price more than 20 percentage points ahead of the marketnot met0 of 1 point
Exclusion: financial and real estate stocksdoes not apply

Detail data

How does Apple Inc. stock perform across 18 strategies?

Excerpt from 18 strategies checked. The full evaluation is visible after a free sign-up.

Piotroski F-Score (9-Point Check)Nine hard balance-sheet criteria separate substance from a downward spiral.
Low
Mohanram G-Score: Growth QualityFor growth stocks, the substance check shows what is real investment and what is only an announcement.
High
Growth Momentum (CAN SLIM principle)Strong earnings growth, confirmed by the price trend. The bet is on strength, not weakness.
Medium
Moat QualityCompanies with an economic moat, recognisable by persistently high returns and defended margins.
High
Dividend Quality: 4 FactorsFour factors against the dividend trap: continuity, coverage, yield, growth.
Medium
StockScorer ScoreMeasured against its own sector: quality, valuation, growth and market confirmation.
Low

12 more strategies locked

With a free account, you can see the match across all strategies checked in one complete overview.

Balanced GARP
Defensive: Low Volatility
Earnings Quality: Accrual Check (Sloan)
Dividend Aristocrats & Continuity
Magic Formula: Value + Quality
High-Growth / Rule of 40
Altman Z-Score: Stress Test
Acquirer's Multiple: EV/EBIT Deep Value
Levermann Strategy (13 Criteria)
PEG Strategy (inspired by Peter Lynch)
Trending Value: Value + Momentum
Undervalued Stocks: Multi-Factor Check

Open complete overview

Apple Inc. key metrics: P/E, P/B and equity ratio

Selected fundamental metrics for Apple Inc.

Metric	Stock	Sector
P/E ratio	45.9	35.1
P/B ratio	69.7	5.5
Return on equity (ROE)	151.9%	14.6%
Equity ratio	20.5%	54.0%
Debt-to-equity (D/E)	1.52	0.33
Dividend yield	0.3%	0.9%

Similar stocks in Technology

How comparable stocks in the same sector score in the StockScorer model.

Symbol	Company	Rating
AAPL	Apple Inc.this page
005930.KS	Samsung Electronics Co Ltd	locked
SONY	Sony Group Corp	locked
1810.HK	Xiaomi Corp	locked
6752.T	Panasonic Corp	locked
066570.KS	LG Electronics Inc	locked

Frequently asked questions about Apple Inc. stock

How does Apple Inc. stock (AAPL) score in the StockScorer model?

Apple Inc. stock reaches a StockScorer score of 4.5 out of 10, which is a low match with the rule-based strategies. 3 out of 7 flagship profile rules are met.

What is Apple Inc.'s P/E ratio?

Apple Inc.'s P/E ratio is 45.9. The Technology sector median is 35.1.

What sector is Apple Inc. in?

Apple Inc. is assigned to the Technology sector. Its rank within the sector is 57.2 out of 100: 100 means the stock leads its peer group of large and mid-cap sector stocks in every measured area.

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