Hey All,
Thanks for visiting my Apple Inc. Financial Report page. On this page, you will be able to find preliminary information about Apple's current financial performance as well as some historical track records and trends.
For a more detailed examination of Apple's financial performance, I offer two reports, which are "A Beginner's Guide to Apple Inc. Financial Analysis" and "Apple Inc. Financial Report by Paul Borosky, MBA." Both reports are written by myself, Paul Borosky, MBA., Doctoral Candidate and published author, and include:
- Summarized income statements for the last 5 years.
- Summarized balance sheets for the last 5 years.
- Five years’ worth of over twenty common financial ratios presented with formulas, calculations, and analysis tips for each ratio.
- Line-by-line description, explanation, and analysis tip for most financial statement line items and financial ratios.
- Professional financial analysis tips are provided in each section to help YOU conduct your OWN financial analysis!
- Each section includes an “in other words” segment. This is where I use plain English to explain concepts.
For a MORE in-depth review of the company's financial statements and ratios, make sure to buy my "Apple Inc. Financial Report". The financial report includes all aspects of my "Beginner's Guide" plus a whole lot more...
- Professional financial analysis of important income statements, balance sheets, and financial ratio trends.
- "Letter Grade" is assigned to most financial statement line items and financial ratios to help you better understand their overall trends for the last 5 years.
- Overall financial analysis summary for the company.
Enjoy the preliminary information and for a more detailed analysis, buy the financial report!
Sincerely,
Paul, MBA.
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Sample Financial Report


***Summary analysis is not included in the "Beginner's Guide" version.
Apple Inc.: Brief Summary
Apple Inc. is currently located at One Apple Park Way in Cupertino, CA. the organization competes in the consumer electronics industry. Currently, the firm employs over 150,000 individuals. Their CEO is Tim Cook. As for CFO, this would be Luca Maestri. Finally, their chief operating officer is Jeffrey Williams.
Apple Inc. designs, manufactures and sells iPhones, Macs, iPods, watches, and complementary accessories the world over. Apple Inc. also sells various related services like Apple TV and iPads, AppleCare support services, and cloud services store services.
Currently, our Apple financial analysis has found that the company has a market capitalization of approximately $2.6T. The company’s beta is 1.20. This indicates that the firm is slightly riskier as compared to the overall market. As for earnings, the firm has current earnings per share of 5.61 (1/22).
Apple Financial Report Sources
“A Beginner's Guide to Analyzing Apple's Financial Statements and Financial Ratios” and "Apple Inc. Financial Report" were written by Paul Borosky, MBA., and owner of Quality Business Plan. In this report, I used Apple’s 2022 10k, Apple’s 2021 10k annual report, Apple’s 2020 10k annual report, Apple’s 2019 10k annual report, and Apple’s 2018 10k annual report as the basis for information gathering.
Snipits From Apple Inc. Financial Report by Paul Borosky, MBA.
Section 1: Apple Inc. Income Statement Analyzed
In this section, I walk through a broad definition of what an income statement is and why it is important. From this, I then discuss and define income statement line items, such as revenues, gross profits, etc., in detail. After each line item is defined and discussed, I finally offer a summary analysis of Apple’s important income statement line item trends.
Apple 2022 Summary Income Statement |
|||||
Column1 | 2022 | 2021 | 2020 | 2019 | 2018 |
Revenues | 394,328 | 365,817 | 274,515 | 260,174 | 265,595 |
COGS | 223,546 | 212,981 | 169,559 | 161,782 | 163,756 |
Gross Profit | 170,782 | 152,836 | 104,956 | 98,392 | 101,839 |
SG&A | 25,094 | 21,973 | 19,916 | 18,245 | 16,705 |
Depreciation | 11,104 | 11,284 | 11,056 | 12,547 | 10,903 |
R & D | 26,251 | 21,914 | 18,273 | 16,217 | 14,236 |
Other | - | - | - | - | - |
Total Operating Expenses | 51,345 | 43,887 | 38,668 | 34,462 | 41,844 |
EBIT | 119,437 | 108,949 | 66,288 | 63,930 | 59,995 |
Other Income | (334) | 258 | 803 | 1,807 | 2,005 |
Interest Expense | 9,543 | 8,750 | 12,629 | 8,805 | 6,500 |
EBT | 119,103 | 109,207 | 67,091 | 65,737 | 55,500 |
Taxes | 19,300 | 14,527 | 9,680 | 10,481 | 13,372 |
Net Income | 99,803 | 94,680 | 57,411 | 55,256 | 59,531 |
Revenue Growth for Apple:
Apple’s revenues increased at an impressive 15.9% growth rate from 2017 to 2018. Also, the organization’s revenue growth rate decreased in 2019 by approximately 2%. Finally, in the last five years, Apple’s annual average growth rate for revenues was approximately 13.1%, which is an impressive annual revenue growth rate for a mature company.
Analyst Grade: A
Section 2: Apple Inc. Balance Sheet Analyzed
For Apple Inc. balance sheet, I again go through each important line item from the balance sheet. In reviewing each line item, I will define Apple’s balance sheet line item, such as cash, property, plant and equipment, and liabilities. Next, I then offer a summary analysis of Apple’s important balance sheet line items.
Cash.
Apple’s cash position grew substantially between 2017 and 2019. The substantial cash position increase, well above previous years’ trends, may indicate that the firm mismanaged this balance sheet line item. A better strategy would have been to allocate excessive cash funds to short-term investments.
Analyst Grade: A
Apple 2022 Summary Balance Sheet |
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Column1 | 2022 | 2021 | 2020 | 2019 | 2018 |
Cash | 23,646 | 34,940 | 38,016 | 48,844 | 25,913 |
Short Term Investment | 24,658 | 27,699 | 52,927 | 51,713 | 40,388 |
Account Receivable | 28,184 | 26,278 | 16,120 | 22,926 | 23,186 |
Inventory | 4,946 | 6,580 | 4,061 | 4,106 | 3,956 |
Other | - | - | - | - | - |
Current Assets | 135,405 | 134,836 | 143,713 | 162,819 | 93,443 |
Net PPE | 42,117 | 39,440 | 36,766 | 37,378 | 41,304 |
Goodwill | - | - | - | - | - |
Other | - | - | |||
Total Assets | 352,755 | 351,002 | 323,888 | 338,516 | 365,725 |
Accounts Payable | 64,115 | 54,763 | 42,296 | 46,236 | 55,888 |
Accrued Expense | - | - | - | - | 32,687 |
Accrued Taxes | - | - | - | - | - |
Notes Payable | 9,982 | 6,000 | 4,996 | 5,980 | 11,964 |
LT Debt - Current | 11,128 | 9,613 | 8,773 | 10,260 | 8,784 |
Other | - | - | |||
Total Current Liabilities | 153,982 | 125,481 | 105,392 | 105,718 | 116,866 |
LT Debt | 98,959 | 109,106 | 98,667 | 91,807 | 93,735 |
Other | |||||
Total Liabilities | 302,083 | 287,912 | 258,549 | 248,028 | 258,578 |
Common Stock | 64,849 | 57,365 | 50,779 | 45,174 | 40,201 |
Treasury | - | - | - | - | - |
Retained Earnings | (3,068) | 5,562 | 14,966 | 45,898 | 70,400 |
Other | |||||
Total Equity | 50,672 | 63,090 | 65,339 | 90,488 | 110,601 |
Total Equity & Liability | 352,755 | 351,002 | 323,888 | 338,516 | 365,725 |
Section 3: Apple Inc. Financial Ratios Analyzed
For this section, I have chosen several different financial ratios to review for Apple Inc. In reviewing each of Apple’s financial ratios, I first start with defining the financial ratio. Next, I supply the financial formula for calculating the specific ratio. Finally, I offer a brief analysis of Apple’s Important Financial ratios.
Apple's Current Ratio:
Apple’s current ratio was 1.07 as of 2021. This indicates that the organization has sufficient short-term assets to cover short-term liabilities—an excellent position for the organization.
Analyst Grade: A
Apple's Return on Assets:
Apple’s return on assets ended 2017 at 12.88%. Over the next five years, the organization would substantially improve its return on assets ending 2021 at 26.97%. This shows that the firm is doing an excellent job not only with growing sales with fewer assets but also in controlling asset growth as well.
Analyst Grade: A