Stock Analysis on Net
Stock Analysis on Net

Apple Inc. (NASDAQ:AAPL)

Common-Size Balance Sheet: Assets 
Quarterly Data

Apple Inc., common-size consolidated balance sheet: assets (quarterly data)

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Sep 27, 2025 Jun 28, 2025 Mar 29, 2025 Dec 28, 2024 Sep 28, 2024 Jun 29, 2024 Mar 30, 2024 Dec 30, 2023 Sep 30, 2023 Jul 1, 2023 Apr 1, 2023 Dec 31, 2022 Sep 24, 2022 Jun 25, 2022 Mar 26, 2022 Dec 25, 2021 Sep 25, 2021 Jun 26, 2021 Mar 27, 2021 Dec 26, 2020 Sep 26, 2020 Jun 27, 2020 Mar 28, 2020 Dec 28, 2019
Cash and cash equivalents 10.00 10.94 8.50 8.81 8.20 7.71 9.69 11.53 8.50 8.48 7.43 5.92 6.70 8.18 8.01 9.74 9.95 10.32 11.41 10.17 11.74 10.52 12.54 11.68
Current marketable securities 5.22 5.76 6.14 6.82 9.65 10.93 10.21 9.15 8.96 10.17 9.39 8.89 6.99 6.16 6.68 7.03 7.89 8.38 9.30 11.53 16.34 18.79 16.82 19.78
Accounts receivable, net 11.07 8.31 7.89 8.61 9.15 6.87 6.47 6.56 8.37 5.83 5.40 6.85 7.99 6.48 5.94 7.93 7.49 5.30 5.49 7.65 4.98 5.63 4.91 6.16
Vendor non-trade receivables 9.24 5.82 7.14 8.62 9.00 6.14 5.72 7.61 8.93 5.86 5.41 8.78 9.28 6.08 7.01 9.19 7.19 4.98 4.31 8.90 6.58 4.47 4.67 5.57
Inventories 1.59 1.79 1.89 2.01 2.00 1.86 1.85 1.84 1.80 2.19 2.25 1.97 1.40 1.62 1.56 1.54 1.87 1.57 1.55 1.40 1.25 1.25 1.04 1.20
Other current assets 4.06 4.33 4.26 3.85 3.91 4.31 4.11 3.95 4.17 4.07 4.11 4.74 6.02 4.87 4.51 4.75 4.02 4.14 3.97 3.87 3.48 3.46 4.90 3.53
Current assets 41.19% 36.95% 35.83% 38.72% 41.92% 37.83% 38.06% 40.65% 40.72% 36.61% 33.99% 37.14% 38.38% 33.39% 33.70% 40.18% 38.41% 34.69% 36.03% 43.53% 44.37% 44.14% 44.87% 47.92%
Non-current marketable securities 21.64 23.41 25.49 25.46 25.06 27.51 28.21 28.14 28.52 31.06 33.26 32.90 34.25 38.98 40.27 36.38 36.43 40.00 39.90 33.54 31.15 31.70 30.83 29.33
Property, plant and equipment, net 13.87 14.63 14.15 13.39 12.52 13.42 12.91 12.35 12.40 13.00 13.07 12.39 11.94 11.99 11.21 10.30 11.24 11.71 11.22 10.71 11.35 11.25 11.20 10.87
Other non-current assets 23.31 25.00 24.53 22.43 20.50 21.24 20.82 18.86 18.37 19.33 19.69 17.57 15.43 15.64 14.82 13.15 13.92 13.60 12.85 12.22 13.13 12.92 13.10 11.88
Non-current assets 58.81% 63.05% 64.17% 61.28% 58.08% 62.17% 61.94% 59.35% 59.28% 63.39% 66.01% 62.86% 61.62% 66.61% 66.30% 59.82% 61.59% 65.31% 63.97% 56.47% 55.63% 55.86% 55.13% 52.08%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2025-09-27), 10-Q (reporting date: 2025-06-28), 10-Q (reporting date: 2025-03-29), 10-Q (reporting date: 2024-12-28), 10-K (reporting date: 2024-09-28), 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-Q (reporting date: 2023-12-30), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-24), 10-Q (reporting date: 2022-06-25), 10-Q (reporting date: 2022-03-26), 10-Q (reporting date: 2021-12-25), 10-K (reporting date: 2021-09-25), 10-Q (reporting date: 2021-06-26), 10-Q (reporting date: 2021-03-27), 10-Q (reporting date: 2020-12-26), 10-K (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-Q (reporting date: 2019-12-28).

The financial data reveals dynamic shifts in the composition of total assets over multiple quarters. Key trends are summarized below:

Cash and Cash Equivalents
This category fluctuates moderately, starting around 11.68% of total assets and experiencing declines to as low as approximately 5.92% in late 2022. Subsequently, there is a recovery trend toward the end of the period, rising again above 10%.
Current Marketable Securities
The proportion of current marketable securities shows a decreasing trend overall, falling from nearly 20% to just over 5% of total assets across the timeline. There are intermittent short-term increases, but the general movement is downward.
Accounts Receivable, Net
The accounts receivable category exhibits some volatility but demonstrates an overall rising trend. It moves upward from around 6.16% to approximately 11% by the end of the observed period, indicating growing amounts tied up in receivables as a fraction of assets.
Vendor Non-trade Receivables
Vendor non-trade receivables reveal a somewhat erratic pattern with multiple peaks and troughs. Values rise above 9% in several quarters but generally fluctuate between 4% and 9%, showing inconsistency in this asset component.
Inventories
Inventories maintain a relatively low but gradually increasing share of total assets, moving from about 1.2% to just over 2%, with some periods of slight decline. The stable upward slope suggests marginal growth in inventory holdings.
Other Current Assets
This category is fairly consistent, generally remaining around 3.5% to 6% of total assets. There is a mild upward trend during certain periods, but overall stability is notable.
Current Assets
The total current assets percentage decreases from around 48% to fluctuating levels mostly in the mid-30s to low 40s. This indicates a shift towards a smaller proportion of current assets in the total asset base over time, with non-monotonic movement.
Non-current Marketable Securities
Non-current marketable securities increase initially, peaking near 40%, then gradually decline to about 21.6% by the end of the timeline. The pattern suggests a strategic reduction or reallocation of long-term marketable securities.
Property, Plant and Equipment, Net
This asset category remains relatively stable with a slight upward tendency, increasing from roughly 10.9% to around 14%. This signals gradual investment or retention in PP&E relative to total assets.
Other Non-current Assets
Other non-current assets show a consistent upward trend, growing from near 11.9% to over 25%. This substantial increase points to an expansion in long-term non-financial or intangible assets.
Non-current Assets
The share of non-current assets generally increases from approximately 52% to levels fluctuating in the 60% range, followed by a slight decline toward the end. This shift underlines an overall growth in the long-term asset component.
Total Assets
Throughout the periods, total assets represent 100% consistently, serving as the base for all proportional analyses.

Overall, the analysis uncovers a gradual transition toward a higher proportion of non-current assets, particularly driven by increases in other non-current assets and stable investments in property, plant and equipment. Simultaneously, current assets form a declining share, with cash and current marketable securities experiencing decreases at various intervals before partial recoveries. The growth in accounts receivable and vendor non-trade receivables suggests greater credit extensions or sales activity on credit terms. Inventory levels gradually augment but remain a modest component. These trends collectively indicate a strategic asset realignment, potentially reflecting investment priorities, liquidity management, and operational financing decisions over the examined timeframe.