Apple Inc. (AAPL) Financial Statements

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Apple financial statements at a glance

Apple reported revenue of $416.16 billion for fiscal year 2025 (ended September 30, 2025), up 6.4% from fiscal year 2024. Net income was $112.01 billion, a net margin of 26.9%, and diluted earnings per share were $7.46.

At the end of fiscal year 2025 it had total assets of $359.24 billion, total liabilities of $285.51 billion and shareholders' equity of $73.73 billion, with cash and short-term investments of $54.70 billion and total debt of $98.66 billion.

Its operations brought in $111.48 billion of cash; capital spending was $12.72 billion, leaving free cash flow of $98.77 billion.

The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.

Figures from company filings, in USD; latest fiscal year ended September 30, 2025.

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Apple Inc.

AAPLUnited States
Technology
USD (Local)

Income Statement

Annual • USD

Total Revenue
416.16B
Prev Year: 391.04B
YoY: +6.4%
Operating Revenue
416.16B
Prev Year: 391.04B
YoY: +6.4%
Cost of Revenue
220.96B
Prev Year: 210.35B
YoY: +5.0%
Gross Profit
195.20B
Prev Year: 180.68B
YoY: +8.0%
Operating Expense
62.15B
Prev Year: 57.47B
YoY: +8.2%
Selling General and Administrative
27.60B
Prev Year: 26.10B
YoY: +5.8%
Research and Development
34.55B
Prev Year: 31.37B
YoY: +10.1%
Operating Income
133.05B
Prev Year: 123.22B
YoY: +8.0%
Other Income Expense
-321.00M
Prev Year: 269.00M
YoY: -219.3%
Net Non Operating Interest Income Expense
-
Other Non-operating Income (expense)
-321.00M
Prev Year: 269.00M
YoY: -219.3%
Non-operating Interest Income
-
Pre-tax Income
132.73B
Prev Year: 123.48B
YoY: +7.5%
Provision for Income Taxes
20.72B
Prev Year: 29.75B
YoY: -30.4%
Net Income Common Stockholders
112.01B
Prev Year: 93.74B
YoY: +19.5%
Net Income
112.01B
Prev Year: 93.74B
YoY: +19.5%
Net Income Including Non-Controlling Interests
112.01B
Prev Year: 93.74B
YoY: +19.5%
Net Income from Continuing Operations
112.01B
Prev Year: 93.74B
YoY: +19.5%
Diluted NI Available to Com Stockholders
112.01B
Prev Year: 93.74B
YoY: +19.5%
Basic EPS
7.49
Prev Year: 6.11
YoY: +22.6%
Diluted EPS
7.46
Prev Year: 6.08
YoY: +22.7%
Weighted Average Shares (basic)
14.95B
Prev Year: 15.34B
YoY: -2.6%
Weighted Average Shares (diluted)
15.00B
Prev Year: 15.41B
YoY: -2.6%
Total Operating Income as Reported
133.05B
Prev Year: 123.22B
YoY: +8.0%
Total Expenses
283.11B
Prev Year: 267.82B
YoY: +5.7%
Net Income from Continuing and Discontinued Operation
112.01B
Prev Year: 93.74B
YoY: +19.5%
Normalized Income
112.01B
Prev Year: 93.74B
YoY: +19.5%
EBIT
133.05B
Prev Year: 123.22B
YoY: +8.0%
EBITDA
144.75B
Prev Year: 134.66B
YoY: +7.5%
Interest Income
-
Reconciled Cost of Revenue
220.96B
Prev Year: 210.35B
YoY: +5.0%
Interest Expense
-
Reconciled Depreciation
11.70B
Prev Year: 11.45B
YoY: +2.2%
Net Interest Income
-
Net Income from Continuing Operation Net Minority Interest
112.01B
Prev Year: 93.74B
YoY: +19.5%
Normalized EBITDA
144.75B
Prev Year: 134.66B
YoY: +7.5%
Tax Rate for Calcs
0.156
Prev Year: 0
Values in USD

Apple key figures by fiscal year

FY2025FY2024FY2023FY2022FY2021
Revenue$416.2B$391.0B$383.3B$394.3B$365.8B
Gross profit$195.2B$180.7B$169.1B$170.8B$152.8B
Operating income$133.1B$123.2B$114.3B$119.4B$108.9B
Net income$112.0B$93.7B$97.0B$99.8B$94.7B
Diluted EPS$7.46$6.08$6.13$6.11$5.61
Total assets$359.2B$365.0B$352.6B$352.8B$351.0B
Total liabilities$285.5B$308.0B$290.4B$302.1B$287.9B
Shareholders' equity$73.7B$57.0B$62.1B$50.7B$63.1B
Cash and short-term investments$54.7B$65.2B$61.6B$48.3B$62.6B
Total debt$98.7B$106.6B$111.1B$132.5B$136.5B
Operating cash flow$111.5B$118.3B$110.5B$122.2B$104.0B
Capital spending$12.7B$9.4B$11.0B$10.7B$11.1B
Free cash flow$98.8B$108.8B$99.6B$111.4B$93.0B

In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2014.

Questions and answers

What was Apple's revenue in fiscal year 2025?

$416.16 billion, up 6.4% from $391.04 billion in fiscal year 2024.

How much profit does Apple make?

Apple reported net income of $112.01 billion for fiscal year 2025 (26.9% of revenue); operating income was $133.05 billion.

How much cash and debt does Apple have?

At the end of fiscal year 2025: cash and short-term investments of $54.70 billion and total debt of $98.66 billion.

What is Apple's free cash flow?

$98.77 billion in fiscal year 2025 (operating cash flow of $111.48 billion minus capital spending of $12.72 billion).

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Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. Data may be incomplete, delayed, or contain inaccuracies. Consult with a qualified financial advisor before making any investment decisions.
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