Analysis of Investments
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Apple Inc. pages available for free this week:
- Income Statement
- Statement of Comprehensive Income
- Cash Flow Statement
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Current Ratio since 2005
- Operating Profit Margin since 2005
- Net Profit Margin since 2005
- Price to Earnings (P/E) since 2005
- Adjustments to Financial Statements
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Adjustment to Net Income (Loss): Mark to Market Available-for-sale Securities
Apple Inc., adjustment to net income
US$ in millions
Based on: 10-K (reporting date: 2021-09-25), 10-K (reporting date: 2020-09-26), 10-K (reporting date: 2019-09-28), 10-K (reporting date: 2018-09-29), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-24).
Adjusted Profitability Ratios: Mark to Market Available-for-sale Securities (Summary)
Apple Inc., adjusted profitability ratios
Based on: 10-K (reporting date: 2021-09-25), 10-K (reporting date: 2020-09-26), 10-K (reporting date: 2019-09-28), 10-K (reporting date: 2018-09-29), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-24).
| Profitability ratio | Description | The company |
|---|---|---|
| Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by revenue. | Apple Inc. adjusted net profit margin ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
| Adjusted ROE | A profitability ratio calculated as adjusted net income divided by shareholders’ equity. | Apple Inc. adjusted ROE improved from 2019 to 2020 and from 2020 to 2021. |
| Adjusted ROA | A profitability ratio calculated as adjusted net income divided by total assets. | Apple Inc. adjusted ROA improved from 2019 to 2020 and from 2020 to 2021. |
Apple Inc., Profitability Ratios: Reported vs. Adjusted
Adjusted Net Profit Margin
Based on: 10-K (reporting date: 2021-09-25), 10-K (reporting date: 2020-09-26), 10-K (reporting date: 2019-09-28), 10-K (reporting date: 2018-09-29), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-24).
2021 Calculations
1 Net profit margin = 100 × Net income ÷ Net sales
= 100 × ÷ =
2 Adjusted net profit margin = 100 × Adjusted net income ÷ Net sales
= 100 × ÷ =
| Profitability ratio | Description | The company |
|---|---|---|
| Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by revenue. | Apple Inc. adjusted net profit margin ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Adjusted Return on Equity (ROE)
Based on: 10-K (reporting date: 2021-09-25), 10-K (reporting date: 2020-09-26), 10-K (reporting date: 2019-09-28), 10-K (reporting date: 2018-09-29), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-24).
2021 Calculations
1 ROE = 100 × Net income ÷ Shareholders’ equity
= 100 × ÷ =
2 Adjusted ROE = 100 × Adjusted net income ÷ Shareholders’ equity
= 100 × ÷ =
| Profitability ratio | Description | The company |
|---|---|---|
| Adjusted ROE | A profitability ratio calculated as adjusted net income divided by shareholders’ equity. | Apple Inc. adjusted ROE improved from 2019 to 2020 and from 2020 to 2021. |
Adjusted Return on Assets (ROA)
Based on: 10-K (reporting date: 2021-09-25), 10-K (reporting date: 2020-09-26), 10-K (reporting date: 2019-09-28), 10-K (reporting date: 2018-09-29), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-24).
2021 Calculations
1 ROA = 100 × Net income ÷ Total assets
= 100 × ÷ =
2 Adjusted ROA = 100 × Adjusted net income ÷ Total assets
= 100 × ÷ =
| Profitability ratio | Description | The company |
|---|---|---|
| Adjusted ROA | A profitability ratio calculated as adjusted net income divided by total assets. | Apple Inc. adjusted ROA improved from 2019 to 2020 and from 2020 to 2021. |