Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
Paying user area
Try for free
Apple Inc. pages available for free this week:
- Cash Flow Statement
- Common-Size Balance Sheet: Assets
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Geographic Areas
- Enterprise Value to EBITDA (EV/EBITDA)
- Return on Assets (ROA) since 2005
- Total Asset Turnover since 2005
- Analysis of Debt
- Aggregate Accruals
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Apple Inc. for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Apple Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-Q (reporting date: 2025-12-27), 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 composition of liabilities and shareholders’ equity exhibited notable shifts over the observed period, spanning from December 2019 to September 2025. Overall, the proportion of total liabilities increased relative to shareholders’ equity, particularly in the latter half of the period. Current liabilities consistently represented a significant portion of the total, while the balance between non-current liabilities and shareholders’ equity fluctuated.
- Current Liabilities
- Current liabilities as a percentage of total liabilities and shareholders’ equity generally increased over the period, starting at 29.99% in December 2019 and peaking at 48.33% in June 2024 before decreasing slightly to 43.65% in September 2025. This suggests a growing reliance on short-term financing. Accounts payable and other current liabilities were the primary drivers of this trend, with both increasing in proportion to the total throughout much of the period. Commercial paper also contributed to fluctuations within current liabilities, experiencing peaks in March 2020, June 2022, and September 2023.
- Non-Current Liabilities
- Non-current liabilities demonstrated a more moderate trend. Initially representing 43.72% in December 2019, they rose to a high of 47.29% in September 2020 before declining to 33.37% in September 2025. The non-current portion of term debt remained the largest component of this category, consistently accounting for a substantial portion. Other non-current liabilities showed a gradual decline in proportion to the total over the observed timeframe.
- Shareholders’ Equity
- Shareholders’ equity experienced a decreasing trend as a percentage of the total. Beginning at 26.28% in December 2019, it reached a low of 15.60% in June 2024 before a modest recovery to 23.25% in September 2025. This decline was primarily driven by changes in retained earnings, which decreased significantly from 12.91% in December 2019 to -5.25% in June 2024, before a slight recovery to -0.57% in September 2025. Common stock and additional paid-in capital generally increased as a percentage of the total, partially offsetting the decline in retained earnings. Accumulated other comprehensive income (loss) remained relatively small but consistently negative, contributing to the overall decrease in shareholders’ equity.
- Total Liabilities
- Total liabilities increased from 73.72% in December 2019 to a peak of 84.40% in June 2024, then decreased to 76.75% in September 2025. This increase reflects a growing reliance on debt financing relative to equity. The combined effect of increasing current liabilities and fluctuating non-current liabilities drove this overall trend.
In summary, the balance sheet composition shifted towards greater reliance on liabilities, particularly short-term obligations, throughout the period. The decline in shareholders’ equity, driven largely by changes in retained earnings, further contributed to this trend. These changes suggest a potential increase in financial leverage and a possible shift in financing strategies.