Stock Analysis on Net
Stock Analysis on Net
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Apple Inc. (NASDAQ:AAPL)

Common-Size Income Statement

Beginner level

Apple Inc., common-size consolidated income statement

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12 months ended: Sep 26, 2020 Sep 28, 2019 Sep 29, 2018 Sep 30, 2017 Sep 24, 2016 Sep 26, 2015
Products 80.41 82.21 85.03 85.74 0.00 0.00
Services 19.59 17.79 14.97 14.26 0.00 0.00
Net sales (legacy) 0.00 0.00 0.00 0.00 100.00 100.00
Net sales 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Products -55.11 -55.73 -55.79 -55.11 0.00 0.00
Services -6.66 -6.45 -5.87 -6.42 0.00 0.00
Cost of sales (legacy) 0.00 0.00 0.00 0.00 -60.92 -59.94
Cost of sales -61.77% -62.18% -61.66% -61.53% -60.92% -59.94%
Gross margin 38.23% 37.82% 38.34% 38.47% 39.08% 40.06%
Research and development -6.83 -6.23 -5.36 -5.05 -4.66 -3.45
Selling, general and administrative -7.25 -7.01 -6.29 -6.66 -6.58 -6.13
Operating expenses -14.09% -13.25% -11.65% -11.71% -11.24% -9.58%
Operating income 24.15% 24.57% 26.69% 26.76% 27.84% 30.48%
Interest and dividend income 1.37 1.91 2.14 2.27 1.85 1.25
Interest expense -1.05 -1.37 -1.22 -1.01 -0.68 -0.31
Other income (expense), net -0.03 0.16 -0.17 -0.06 -0.55 -0.39
Other income (expense), net 0.29% 0.69% 0.75% 1.20% 0.63% 0.55%
Income before provision for income taxes 24.44% 25.27% 27.45% 27.96% 28.46% 31.03%
Provision for income taxes -3.53 -4.03 -5.03 -6.87 -7.27 -8.18
Net income 20.91% 21.24% 22.41% 21.09% 21.19% 22.85%

Based on: 10-K (filing date: 2020-10-30), 10-K (filing date: 2019-10-31), 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).

Income statement 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 decreased from 2018 to 2019 and from 2019 to 2020.
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 decreased from 2018 to 2019 and from 2019 to 2020.
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 decreased from 2018 to 2019 and from 2019 to 2020.