Apple Inc (AAPL)
🔔 Watch stock
Everyone knows Apple — and that is exactly the problem: holding the product in your hand every day makes you believe you know the stock too. We read the mandatory filings instead: $416.2 billion in revenue in fiscal year 2025, a record iPhone cycle after four years of stagnation, a services segment with a 75 percent margin — but also a Google search contract whose future an appeals court is deciding, an App Store commission under fire from Epic to Brussels, a memory-chip cost surge Apple itself calls "intensifying," and a price-to-earnings ratio of about 34. Our value scanner based on Joel Greenblatt's Magic Formula lights up anyway. Not investment advice — just the instruction manual that never ships with the best-known product in the world.
Basics
Performance
Valuation
Profitability
Balance Sheet & Safety
Growth
Quality & Screener
AI Rating
–Not yet rated — we only show a category once an SEC-backed file with at least two cited passages is available. How the Rating Is Built
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Quarterly Figures
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 2.40 | 10.10 | 124,300 | 4.00 | 29.20 | 29,935 | 26,995 |
| 2025: Q1 | 1.65 | 7.70 | 95,359 | 5.10 | 26.00 | 23,952 | 20,881 |
| 2025: Q2 | 1.57 | 12.20 | 94,036 | 9.60 | 24.90 | 27,867 | 24,405 |
| 2025: Q3 | 1.83 | 91.40 | 102,466 | 7.90 | 26.80 | 29,728 | 26,486 |
| 2025: Q4 | 2.84 | 18.50 | 143,756 | 15.70 | 29.30 | 53,925 | 51,552 |
| 2026: Q1 | 2.00 | 21.70 | 111,184 | 16.60 | 26.60 | 28,702 | 26,731 |
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Assessment: Opportunities & Risks
The most valuable consumer ecosystem in the world: an iPhone 17 cycle with +23 percent half-year growth after four years of stagnation, a comeback in Greater China (+33 percent), plus the services tollbooth with $109.2 billion in annual revenue and a 75.4 percent gross margin (10-K FY 2025; 10-Q as of March 28, 2026).
A record half-year with $254.9 billion in revenue and $71.7 billion in net income, $82.6 billion in operating cash flow, roughly $60 billion in net cash, Piotroski 8 of 9 and Altman-Z 6.6 — plus two fresh $100 billion buyback programs (10-Q as of March 28, 2026; scanner data as of July 8, 2026).
Three fronts at the most profitable segment: a possible ban on commercial Google terms in the antitrust appeal, the Epic case with a temporary commission ban plus a referral to review criminal steps, a €500 million DMA fine plus a second EU proceeding threatening up to 10 percent of worldwide revenue, and on top the DOJ monopolization suit (10-K FY 2025; 10-Q as of March 28, 2026).
A good half of revenue from a single product category, final assembly almost entirely at contract manufacturers in Asia, a tariff regime in permanent flux; memory costs (DRAM/NAND) are rising with an "intensifying" tendency per Apple's own filing, and the new AI risk factor names competition and cost risks of the catch-up race — with no disclosed AI revenue source (10-K FY 2025; 10-Q as of March 28, 2026).
A P/E of about 34, price to free cash flow of about 31, a 0.4 percent dividend yield (data as of July 8, 2026) — what is being paid for is the best half-year in company history as the new normal; the buyback machine amplifies earnings per share but does not replace growth, as fiscal years 2022 through 2024 show.
Apple is the rare case of a value scanner hit at the all-time high of its own performance: a record half-year, an iPhone supercycle, net cash, Piotroski 8 of 9 — quality exactly as the Magic Formula loves it. Set against this are three open questions no scanner can price: whether the courts in Washington, California and Brussels leave the tollbooth intact whose licensing and commission revenue carries the highest-margin part of the profit; whether the iPhone 17 surge is a new plateau or just a wave; and whether Apple can fund the AI catch-up race without rising memory and infrastructure costs clawing back the record margin. A P/E of about 34 leaves no room for disappointment on any of the three fronts. Not investment advice.
- Apple has an offset fiscal year (ending: last Saturday of September). "FY 2025" denotes the twelve months through September 27, 2025, the "first half of FY 2026" the six months through March 28, 2026.
- Net income for FY 2024 ($93.7 billion) was depressed by the one-time tax expense of $10.2 billion from the confirmed Ireland back-tax payment (European Court of Justice ruling, September 2024); the 2025 profit jump is partly a base effect.
- Price and valuation figures are dated to July 8, 2026 (about $275 per share, roughly $4,041 billion in market value); analyses are evergreen, daily prices are not a buy argument.
- The scanner membership was checked twice: data as of July 8, 2026 (Greenblatt, Terry Smith, Zweig, Altman-Z Balance Sheet Fortress) and a live check on July 14, 2026 (Greenblatt and Terry Smith confirmed; the other two had since dropped out).
About the Company
Apple Inc. entwickelt, fertigt und vermarktet weltweit Smartphones, PCs, Tablets, Wearables und Zubehör.
| IPO Year | 1980 |
|---|---|
| Next Earnings | 30. Jul 2026 |
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Data as of: July 2, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.