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Apple Inc. (AAPL)


Common-Size Income Statement

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Apple Inc., Common-Size Consolidated Income Statement

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12 months ended Sep 29, 2018 Sep 30, 2017 Sep 24, 2016 Sep 26, 2015 Sep 27, 2014 Sep 28, 2013
Net sales 100.00 100.00 100.00 100.00 100.00 100.00
Cost of sales -61.66 -61.53 -60.92 -59.94 -61.41 -62.38
Gross margin 38.34% 38.47% 39.08% 40.06% 38.59% 37.62%
Research and development -5.36 -5.05 -4.66 -3.45 -3.30 -2.62
Selling, general and administrative -6.29 -6.66 -6.58 -6.13 -6.56 -6.34
Operating expenses -11.65% -11.71% -11.24% -9.58% -9.87% -8.96%
Operating income 26.69% 26.76% 27.84% 30.48% 28.72% 28.67%
Interest and dividend income 2.14 2.27 1.85 1.25 0.98 0.95
Interest expense -1.22 -1.01 -0.68 -0.31 -0.21 -0.08
Other expense, net -0.17 -0.06 -0.55 -0.39 -0.24 -0.19
Other income (expense), net 0.75% 1.20% 0.63% 0.55% 0.54% 0.68%
Income before provision for income taxes 27.45% 27.96% 28.46% 31.03% 29.26% 29.35%
Provision for income taxes -5.03 -6.87 -7.27 -8.18 -7.64 -7.68
Net income 22.41% 21.09% 21.19% 22.85% 21.61% 21.67%

Based on: 10-K (filing date: 2018-11-05), 10-K (filing date: 2017-11-03), 10-K (filing date: 2016-10-26), 10-K (filing date: 2015-10-28), 10-K (filing date: 2014-10-27), 10-K (filing date: 2013-10-30).

Item Description The company
Operating income The net result for the period of deducting operating expenses from operating revenues. Apple Inc.’s operating income as a percentage of net sales declined from 2016 to 2017 and from 2017 to 2018.
Income before provision for income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Apple Inc.’s income before provision for income taxes as a percentage of net sales declined from 2016 to 2017 and from 2017 to 2018.
Net income The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Apple Inc.’s net income as a percentage of net sales declined from 2016 to 2017 but then increased from 2017 to 2018 exceeding 2016 level.