Apple Inc.
Technology · Cupertino, California · NASDAQ
Company Description
Financial Performance — 5 Years
Financial Statements
| Item | FY-4 | FY-3 | FY-2 | FY-1 | FY (Latest) | Source |
|---|---|---|---|---|---|---|
| Revenue | $365.8B | $394.3B | $383.3B | $391.0B | $416.2B | [AAPL 10-K filed 2025-10-31 · accession 0000320193-25-000079] |
| Gross Profit | $152.8B | $170.8B | $169.1B | $180.7B | $195.2B | [AAPL 10-K filed 2025-10-31 · accession 0000320193-25-000079] |
| Operating Income | $108.9B | $119.4B | $114.3B | $123.2B | $133.1B | [AAPL 10-K filed 2025-10-31 · accession 0000320193-25-000079] |
| Operating Margin % | 29.8% | 30.3% | 29.8% | 31.5% | 32.0% | [AAPL 10-K filed 2025-10-31 · accession 0000320193-25-000079] |
| EBITDA | $123.2B | $130.5B | $125.8B | $134.7B | $144.7B | [AAPL 10-K filed 2025-10-31 · accession 0000320193-25-000079] |
| Net Income | $94.7B | $99.8B | $97.0B | $93.7B | $112.0B | [AAPL 10-K filed 2025-10-31 · accession 0000320193-25-000079] |
| EPS ($) | $5.61 | $6.11 | $6.13 | $6.08 | $7.46 | [AAPL 10-K filed 2025-10-31 · accession 0000320193-25-000079] |
| FCF | $93.0B | $111.4B | $99.6B | $108.8B | $98.8B | [AAPL 10-K filed 2025-10-31 · accession 0000320193-25-000079] |
Economic Moat
Valuation Multiples
| Multiple | Company | Own 5Y Average | Spread vs. 5Y Average |
|---|---|---|---|
| P/E (TTM) [yfinance snapshot · 5Y computed 2026-04-18] | 32.8x | 30.8x (5Y) | +6.7% |
| P/E (Fwd) [yfinance forward consensus] | 28.5x | N/A | N/A |
| EV/EBITDA [yfinance snapshot · 5Y computed 2026-04-18] | 24.8x | 23.0x (5Y) | +8.0% |
| P/S [yfinance snapshot · 5Y computed 2026-04-18] | N/A | 7.7x (5Y) | N/A |
| P/B [yfinance snapshot · 5Y computed 2026-04-18] | 49.1x | 49.8x (5Y) | -1.4% |
| Div Yield [yfinance snapshot · 5Y computed 2026-04-18] | 0.45% | 0.52% (5Y) | -0.07pp |
| FCF Yield (snapshot) [computed · 2026-04-18] | 2.51% | 3.63% (5Y) | -30.9% |
5Y statistical averages computed from yfinance annual data (annual income_stmt × balance_sheet × cash_flow + price snapshots at FY-end). Source: lib/compute_5y_multiples.py · Refresh: 2026-04-18 | |||
How to Think About This Company
A full How to Think About This Company analysis for AAPL — covering the essence, the key variables, potential analytical pitfalls, and what separates professional thinking from noise — is available within the Family Office content set.
The difference between surface-level analysis and professional thinking often lies in the variables that are not immediately visible.
Risks & Items Under Watch
Scenario Framework
The framework below describes which conditions would need to hold in each scenario — not a price forecast.
Scenarios are descriptive, not predictive. They outline possible conditions, not expected outcomes. There is no probability weighting in these scenarios, no preferred direction, and no expectation regarding which one will materialize.
Analytical Lens — The Questions We Ask
In professional company analysis, the question is not "is this good," but "from which angles must the company be examined so that the essential is not missed." Every analysis at Bakshi Finance passes through six lenses. The text below is not an evaluation — it is the map of questions this analysis is intended to address.
The analysis is based on an internal multi-factor analytical framework used in professional portfolio management. The framework maps the questions; the answers appear woven through the analysis above.
What the lens is not: there is no rating here, no score, no comparison between this company and another, and no preference. The same six questions are asked of every company on the site — the variation is in the answers, not in the tool.
This framework is intended to structure analysis, not to produce an investment conclusion.
Key Observations
This summary is not a recommendation. It is a factual list of what the analysis identified. The decision — rests with the client.
Disclosure — Family Office Format
Bakshi Finance operates as a Family Office serving qualified investors only. Mr. Yaron Bakshi held a licensed investment advisor license from 2008 through 2023. As of the publication date of this document, the firm does not hold an investment advisory, investment marketing, or portfolio management license. This document is intended for research and professional educational purposes only. Nothing herein constitutes a recommendation to buy, sell, hold, or take any action with respect to securities. Nothing herein is a substitute for advice tailored to the data and needs of any individual. Any decision — rests solely with the investor. Past performance is not indicative of future performance.