Balance Sheet: Assets
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
Apple Inc., consolidated balance sheet: assets
US$ in millions
Based on: 10-K (reporting date: 2025-09-27), 10-K (reporting date: 2024-09-28), 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-09-24), 10-K (reporting date: 2021-09-25), 10-K (reporting date: 2020-09-26).
The analyzed financial data indicates several notable trends in the company's asset structure over a six-year period. Total assets show a general increase, rising from approximately $324 billion to about $359 billion, reflecting overall growth with a slight dip in the final year.
- Cash and Cash Equivalents
- This category exhibits volatility, starting at $38 billion, declining to a low of around $23.6 billion, then recovering to nearly $36 billion by the end of the period. The fluctuations suggest active cash management strategies responding to operational needs or investment activities.
- Current Marketable Securities
- Current marketable securities demonstrate a decreasing trend from $53 billion to approximately $18.7 billion, with some interim growth. This decline could indicate a strategic shift away from short-term investments or the reallocation of assets into other areas.
- Accounts Receivable, Net
- Accounts receivable have steadily increased from $16.1 billion to $39.8 billion, nearly doubling over the period. This trend may reflect growing sales or changes in credit policies, impacting liquidity considerations.
- Vendor Non-Trade Receivables
- These receivables rise moderately, from $21.3 billion to about $33.2 billion, indicating higher amounts owed from vendors or related parties, which may affect working capital dynamics.
- Inventories
- Inventory levels fluctuate, increasing from $4.1 billion to a peak of $7.3 billion before settling at $5.7 billion. This variability suggests adjustments in production or inventory strategy, possibly influenced by market demand or supply chain factors.
- Other Current Assets
- Other current assets show growth and volatility, rising from $11.3 billion to nearly $14.6 billion with a peak above $21 billion. These changes imply shifting compositions or reclassification within current assets.
- Current Assets
- Aggregated current assets remain relatively stable overall, averaging around $144 billion to $153 billion, reflecting balance maintenance in liquid and short-term assets.
- Non-Current Marketable Securities
- This component decreases notably from almost $101 billion to $77.7 billion, signaling possible liquidation or transfer of long-term investments to other asset categories.
- Property, Plant, and Equipment, Net
- Net property, plant, and equipment steadily increase from $36.8 billion to nearly $49.8 billion, indicating ongoing capital expenditure and asset base expansion.
- Deferred Tax Assets
- Deferred tax assets grow consistently from $8.2 billion to $20.8 billion, reflecting changing tax positions and temporary differences impacting future tax benefits.
- Other Non-Current Assets
- Two reported lines show significant increase in other non-current assets, the first rising from $34.4 billion to $62.9 billion, and the second from $42.5 billion to $83.7 billion, suggesting the accumulation of intangible assets or long-term investments.
- Non-Current Assets
- Overall non-current assets rise from $180.2 billion to approximately $211.3 billion, despite some year-to-year fluctuations, demonstrating consistent investment in the asset base supporting long-term operations.
- Total Assets
- Total assets experience steady growth from $323.9 billion to near $365 billion before a slight decline to $359.2 billion. This trend reflects a generally expanding asset base with minor recent tapering.