# Apple Inc. (AAPL) fundamentals

Data as of 2026-09-08. NASDAQ, United States. Sector: Technology / Electronic Equipment, Instruments & Components. Price $319.97, market value $4.67 trillion.

## Valuation
- **P/E (trailing): 36.6×** (5-yr avg 29.7×, 3-yr avg 33.0×). Apple Inc. trades at 36.6× trailing earnings, well above its own five-year average of 29.7×: investors are paying up relative to the company's past. The Technology median in the September 2026 study was 32.1×. Forward P/E is 33.4×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 1.47**. A PEG of 1.47 is in the range usually read as fairly priced for its growth.
- **Price / sales: 10.0×**. Each dollar of revenue is priced at 10.0×, a level that requires very high margins or very fast growth to justify.
- **Price / book: 43.5×**. The shares trade at 43.5× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **EV / EBITDA: 28.1×**. Enterprise value is 28.1× operating earnings before depreciation, the multiple that ignores how the company is financed; above 20× is demanding.
- **Free-cash-flow yield: 2.9%** (5-yr avg 3.6%). Free cash flow equals 2.9% of the market value, in line with its five-year average of 3.6%.
- **Earnings yield: 2.7%**. The inverse of the P/E: 2.7% of the price is earned each year.

## Profitability
- **Gross margin: 48.7%**. Apple Inc. keeps 48.7% of revenue after the direct cost of what it sells.
- **Operating margin: 33.2%**. 33.2% of revenue is left after running the business, an exceptional level.
- **Net margin: 26.9%**. 26.9% of each dollar of sales reaches the bottom line.
- **Return on equity: 151.9%**. A 151.9% return on equity is extremely high; check whether buybacks or debt have shrunk the equity base, which flatters the ratio.
- **Return on invested capital: 95.2%**. Return on all capital, debt included, is 95.2%: comfortably above what that capital costs.
- **Return on assets: 35.9%**. Each dollar of assets produces 35.9% of profit.

## Growth
- **Revenue growth (1 yr): 6.4%** (3-yr 1.8%/yr, 5-yr 8.7%/yr). Revenue grew 6.4% over the last year, against 8.7% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): 22.7%** (3-yr 6.9%/yr, 5-yr 17.9%/yr). Earnings per share rose 22.7%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): -3.9%/yr**. Free cash flow has compounded at -3.9% a year over three years, lagging earnings: check whether profits are turning into cash.

## Financial health
- **Debt to equity: 1.23**. Debt is 1.23 times equity, a leveraged balance sheet that needs steady cash flow to service.
- **Net debt / EBITDA: 0.3×**. It would take 0.3 years of operating earnings to repay net borrowings, within the comfortable range.
- **Altman Z-score: 12.48**. A Z-score of 12.48 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 7/9**. 7 of 9 fundamental checks pass: strong and improving financials.

## Dividends
- **Dividend yield: 0.34%** ($1.05 per share, trailing). Apple Inc. yields 0.34%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 14%** (11% of free cash flow). 14% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 14**. 14 straight years of increases, a record that survived at least one recession.
- **Dividend growth (5 yr): 5.0%/yr** (1-yr 4.0%). The dividend has grown 5.0% a year over five years.

## Analyst view
- **Analyst consensus: buy** (39 analysts). 39 analysts cover Apple Inc.; the consensus is buy, with an average price target of $324.45 (+1% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 33.8%** (YTD 17.9%, 3-mo 4.1%). The shares are up 33.8% over twelve months including dividends.
- **From 52-week high: -7.1%** (41.6% above the low). Trading 7% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 54**. An RSI of 54 is neutral.
- **Beta (1 yr): 0.76** (volatility 25%). Beta of 0.76 against the S&P 500: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=AAPL · Page: https://foliofundamentals.com/stocks/aapl

Not investment advice.