Company Valuation: Apple Inc.

Data adjusted to current consolidation scope
Fiscal Period: September 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,402,990 2,438,897 2,664,542 3,463,350 3,791,126 4,167,978 - -
Change - 1.49% 9.25% 29.98% 9.46% 9.94% - -
Enterprise Value (EV) 1 2,337,193 2,389,857 2,613,531 3,413,329 3,757,363 4,098,094 4,071,195 4,038,727
Change - 2.25% 9.36% 30.6% 10.08% 9.07% -0.66% -0.8%
P/E 25.9x 24.8x 27.8x 37.5x 34.2x 32.4x 29.3x 26.1x
PBR 37.9x 47.8x 42.6x 60.5x 51.2x 39.4x 28.8x 18.7x
PEG - 2.78x 84.93x -45.98x 1.5x 1.9x 2.8x 2.1x
Capitalization / Revenue 6.57x 6.18x 6.95x 8.86x 9.11x 8.71x 8.01x 7.44x
EV / Revenue 6.39x 6.06x 6.82x 8.73x 9.03x 8.57x 7.82x 7.21x
EV / EBITDA 19.4x 18.3x 20.8x 25.3x 26x 24.3x 22.3x 20.3x
EV / EBIT 21.5x 20x 22.9x 27.7x 28.2x 26.4x 24.3x 21.8x
EV / FCF 25.1x 21.4x 26.2x 31.4x 38x 29.1x 26.5x 24.2x
FCF Yield 3.98% 4.66% 3.81% 3.19% 2.63% 3.43% 3.77% 4.13%
Dividend per Share 2 0.85 0.9 0.94 0.98 1.02 1.07 1.117 1.168
Rate of return 0.58% 0.59% 0.55% 0.43% 0.4% 0.38% 0.39% 0.41%
EPS 2 5.61 6.11 6.13 6.08 7.46 8.76 9.683 10.88
Distribution rate 15.2% 14.7% 15.3% 16.1% 13.7% 12.2% 11.5% 10.7%
Net sales 1 365,817 394,328 383,285 391,035 416,161 478,292 520,415 560,493
EBITDA 1 120,233 130,541 125,820 134,661 144,495 168,567 182,547 199,300
EBIT 1 108,949 119,437 114,301 123,216 133,050 155,398 167,666 185,494
Net income 1 94,680 99,803 96,995 93,736 112,010 128,852 139,906 154,319
Net Debt 1 -65,797 -49,040 -51,011 -50,021 -33,763 -69,884 -96,783 -129,251
Reference price 2 145.37 151.76 170.43 227.79 255.46 283.78 283.78 283.78
Nbr of stocks (in thousands) 16,530,166 16,070,752 15,634,232 15,204,137 14,840,390 14,687,356 - -
Announcement Date 10/28/21 10/27/22 11/2/23 10/31/24 10/30/25 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
32.4x8.57x24.31x0.38% 4,168B
18.45x0.69x8.56x-.--% 70.27B
18.96x0.79x13.58x3.1% 9.61B
7.15x1.39x2.51x0.95% 3.04B
Average 19.24x 2.86x 12.24x 1.11% 1,063B
Weighted average by Cap. 32.12x 8.42x 24.01x 0.38%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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