Financials Apple Inc.

Equities

AAPL

US0378331005

Phones & Handheld Devices

Market Closed - Nasdaq Other stock markets 04:00:00 2024-10-09 pm EDT			After market 07:59:53 pm
229.54 ^USD	+1.67%		229.24	-0.13%

05:04am	Amazon adds Apple TV+ to its Prime Video streaming service in US	RE
Oct. 09	Apple's Dan Riccio to Retire This Month	MT

Projected Income Statement: Apple Inc.

Fiscal Period: September	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	260,174	274,515	365,817	394,328	383,285	390,508	419,704	453,812
Change	-	5.51%	33.26%	7.79%	-2.8%	1.88%	7.48%	8.13%
EBITDA ¹	76,477	77,344	120,233	130,541	125,820	134,905	145,176	159,278
Change	-	1.13%	55.45%	8.57%	-3.62%	7.22%	7.61%	9.71%
EBIT ¹	63,930	66,288	108,949	119,437	114,301	122,647	132,740	146,107
Change	-	3.69%	64.36%	9.63%	-4.3%	7.3%	8.23%	10.07%
Interest Paid	-3,576	-2,873	-2,645	-334	-565	-	-750	-200
Earnings before Tax (EBT) ¹	65,737	67,091	109,207	119,103	113,736	122,845	132,907	144,499
Change	-	2.06%	62.77%	9.06%	-4.51%	8.01%	8.19%	8.72%
Net income ¹	55,256	57,411	94,680	99,803	96,995	102,496	111,478	121,678
Change	-	3.9%	64.92%	5.41%	-2.81%	5.67%	8.76%	9.15%
Announcement Date	10/30/19	10/29/20	10/28/21	10/27/22	11/2/23	-	-	-

¹USD in Million

Estimates

Fiscal Period: Settembre	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3
Net sales ¹	64,040	91,819	58,313	59,685	64,698	111,439	89,584	81,434	83,360	123,945	97,278	82,959	90,146	117,154	94,836	81,797	89,498	119,575	90,753	85,777	94,215	128,225	97,916	92,364	101,628	133,995	102,558	96,333
Change	-	43.38%	-36.49%	2.35%	8.4%	72.24%	-19.61%	-9.1%	2.37%	48.69%	-21.52%	-14.72%	8.66%	29.96%	-19.05%	-13.75%	9.41%	33.61%	-24.1%	-5.48%	9.84%	36.1%	-23.64%	-5.67%	10.03%	31.85%	-23.46%	-6.07%
EBITDA ¹	18,804	28,385	15,639	15,843	17,477	36,200	30,300	26,958	26,775	44,185	32,716	25,881	27,759	38,932	31,216	26,050	29,622	43,221	30,736	28,202	32,248	45,383	33,481	31,015	33,747	45,908	34,156	31,184
Change	-	50.95%	-44.9%	1.3%	10.31%	107.13%	-16.3%	-11.03%	-0.68%	65.02%	-25.96%	-20.89%	7.26%	40.25%	-19.82%	-16.55%	13.71%	45.91%	-28.89%	-8.24%	14.35%	40.73%	-26.23%	-7.36%	8.81%	36.04%	-25.6%	-8.7%
EBIT ¹	15,625	25,569	12,853	13,091	14,775	33,534	27,503	24,126	23,786	41,488	29,979	23,076	24,894	36,016	28,318	22,998	26,969	40,373	27,900	25,352	29,082	43,088	30,472	27,892	31,431	44,619	32,080	29,410
Change	-	63.64%	-49.73%	1.85%	12.86%	126.96%	-17.98%	-12.28%	-1.41%	74.42%	-27.74%	-23.03%	7.88%	44.68%	-21.37%	-18.79%	17.27%	49.7%	-30.89%	-9.13%	14.71%	48.16%	-29.28%	-8.47%	12.69%	41.96%	-28.1%	-8.32%
Charge d'intérêts ¹	-810	-785	-757	-697	-634	-638	-670	-665	-	-247	160	-10	-237	-393	64	-265	29	-50	-158	142	-63.67	-255.3	-325	-325	-325	-	-	-
Earnings before Tax (EBT) ¹	16,127	25,918	13,135	13,137	14,901	33,579	28,011	24,369	23,248	41,241	30,139	23,066	24,657	35,623	28,382	22,733	26,998	40,323	28,058	25,494	29,071	43,117	30,418	27,814	31,403	44,483	32,019	29,314
Change	-	60.71%	-49.32%	0.02%	13.43%	125.35%	-16.58%	-13%	-4.6%	77.4%	-26.92%	-23.47%	6.9%	44.47%	-20.33%	-19.9%	18.76%	49.36%	-30.42%	-9.14%	14.03%	48.32%	-29.45%	-8.56%	12.9%	41.66%	-28.02%	-8.45%
Net income ¹	13,686	22,236	11,249	11,253	12,673	28,755	23,630	21,744	20,551	34,630	25,010	19,442	20,721	29,998	24,160	19,881	22,956	33,916	23,636	21,448	23,407	36,030	25,627	23,350	26,329	37,259	26,818	24,554
Change	-	62.47%	-49.41%	0.04%	12.62%	126.9%	-17.82%	-7.98%	-5.49%	68.51%	-27.78%	-22.26%	6.58%	44.77%	-19.46%	-17.71%	15.47%	47.74%	-30.31%	-9.26%	9.13%	53.93%	-28.87%	-8.89%	12.76%	41.51%	-28.02%	-8.44%
Announcement Date	10/30/19	1/28/20	4/30/20	7/30/20	10/29/20	1/27/21	4/28/21	7/27/21	10/28/21	1/27/22	4/28/22	7/28/22	10/27/22	2/2/23	5/4/23	8/3/23	11/2/23	2/1/24	5/2/24	8/1/24	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Apple Inc.

Fiscal Period: Settembre	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-97,851	-79,394	-65,797	-49,040	-51,011	-49,818	-60,906	-72,332
Change	-	-181.14%	-182.87%	-174.53%	-204.02%	-197.66%	-222.26%	-218.76%
Announcement Date	10/30/19	10/29/20	10/28/21	10/27/22	11/2/23	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Apple Inc.

Fiscal Period: Settembre	2019	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	10,495	7,309	11,085	10,708	10,959	9,750	10,757	11,557
Change	-	-30.36%	51.66%	-3.4%	2.34%	-11.03%	10.32%	7.44%
Free Cash Flow (FCF) ¹	58,896	73,365	92,953	111,443	99,584	109,628	123,966	134,638
Change	-	24.57%	26.7%	19.89%	-10.64%	10.09%	13.08%	8.61%
Announcement Date	10/30/19	10/29/20	10/28/21	10/27/22	11/2/23	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Apple Inc.

Fiscal Period: Settembre	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	29.39%	28.17%	32.87%	33.1%	32.83%	34.55%	34.59%	35.1%
EBIT Margin (%)	24.57%	24.15%	29.78%	30.29%	29.82%	31.41%	31.63%	32.2%
EBT Margin (%)	25.27%	24.44%	29.85%	30.2%	29.67%	31.46%	31.67%	31.84%
Net margin (%)	21.24%	20.91%	25.88%	25.31%	25.31%	26.25%	26.56%	26.81%
FCF margin (%)	22.64%	26.73%	25.41%	28.26%	25.98%	28.07%	29.54%	29.67%
FCF / Net Income (%)	106.59%	127.79%	98.18%	111.66%	102.67%	106.96%	111.2%	110.65%
Profitability
ROA	15.69%	17.33%	28.06%	28.36%	27.5%	29.87%	32.11%	35.91%
ROE	55.92%	73.69%	147.44%	175.46%	171.95%	166.04%	179.37%	200.96%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	4.03%	2.66%	3.03%	2.72%	2.86%	2.5%	2.56%	2.55%
CAPEX / EBITDA (%)	13.72%	9.45%	9.22%	8.2%	8.71%	7.23%	7.41%	7.26%
CAPEX / FCF (%)	17.82%	9.96%	11.93%	9.61%	11%	8.89%	8.68%	8.58%
Items per share
Cash flow per share ¹	3.732	4.603	6.169	7.482	6.991	7.751	8.619	9.323
Change	-	23.34%	34.03%	21.29%	-6.57%	10.88%	11.2%	8.16%
Dividend per Share ¹	0.75	0.795	0.85	0.9	0.94	0.9894	1.035	1.106
Change	-	6%	6.92%	5.88%	4.44%	5.25%	4.58%	6.91%
Book Value Per Share ¹	5.091	3.676	3.841	3.178	3.996	4.163	4.665	6.034
Change	-	-27.79%	4.47%	-17.25%	25.75%	4.16%	12.07%	29.34%
EPS ¹	2.972	3.28	5.61	6.11	6.13	6.65	7.402	8.344
Change	-	10.34%	71.04%	8.91%	0.33%	8.49%	11.31%	12.72%
Nbr of stocks (in thousands)	18,076,720	17,102,536	16,530,166	16,070,752	15,634,232	15,204,137	15,204,137	15,204,137
Announcement Date	10/30/19	10/29/20	10/28/21	10/27/22	11/2/23	-	-	-