Balance Sheet: Assets
Quarterly Data
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.
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- 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
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Apple Inc., consolidated balance sheet: assets (quarterly data)
US$ in millions
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).
Over the observed period, the company’s total assets exhibited considerable fluctuation. Initially decreasing from December 2019 to March 2020, assets generally trended upward through December 2021, reaching a peak. Subsequent quarters saw a decline, followed by another period of growth culminating in September 2023. A more recent trend indicates a slight decrease in total assets through June 2024, followed by a rebound and then a slight decline again through March 2025.
- Cash and Cash Equivalents
- Cash and cash equivalents demonstrated volatility throughout the period. A peak was observed in December 2019, followed by a decrease and subsequent increase to September 2020. From December 2020 through March 2022, a consistent downward trend was apparent, reaching a low point in March 2022. The balance then fluctuated, peaking again in December 2023 before declining through March 2024 and showing some recovery through September 2024. A further decline is observed through March 2025.
- Current Marketable Securities
- Current marketable securities generally decreased from December 2019 to March 2022. A significant reduction occurred between December 2019 and March 2020. The balance remained relatively stable between June 2022 and December 2023, before showing a decline through March 2025. The fluctuations were less pronounced than those observed in cash and cash equivalents.
- Accounts Receivable, Net
- Accounts receivable exhibited a notable increase from March 2020 to December 2021, suggesting a potential increase in credit sales or changes in collection periods. A subsequent decline occurred through June 2022, followed by another increase peaking in September 2023. The balance then decreased through March 2025, with fluctuations throughout the period.
- Vendor Non-Trade Receivables
- Vendor non-trade receivables followed a similar pattern to accounts receivable, with a significant increase from March 2020 to December 2021. This was followed by a decline through June 2022, and then another increase peaking in September 2023. A decrease is observed through March 2025.
- Inventories
- Inventories remained relatively stable throughout the observed period, with minor fluctuations. A slight increase was observed from December 2021 to December 2022, followed by a slight decrease through March 2025. The changes in inventory levels were less dramatic compared to other current asset categories.
- Other Current Assets
- Other current assets showed moderate fluctuations, generally remaining within a range of approximately US$10 million to US$21 million. A peak was observed in September 2022, followed by a decline and subsequent recovery through September 2024. A slight decrease is observed through March 2025.
- Non-Current Marketable Securities
- Non-current marketable securities remained relatively stable between December 2019 and December 2020, then increased significantly through June 2021. The balance then decreased through June 2022, and remained relatively stable through September 2023. A decline is observed through March 2025.
- Property, Plant and Equipment, Net
- Property, plant, and equipment, net, exhibited a gradual increase throughout the period, indicating potential investments in fixed assets. The increases were relatively consistent, with a slight acceleration from June 2022 through September 2025.
- Other Non-Current Assets
- Other non-current assets demonstrated a consistent upward trend throughout the period, with a more pronounced increase from December 2022 onwards. This suggests potential investments in intangible assets or other long-term holdings.
The composition of assets shifted over time. While current assets initially represented a larger proportion of total assets, the increasing value of non-current assets, particularly property, plant, and equipment, net, and other non-current assets, suggests a long-term investment strategy focused on building capacity and future growth.