Current Ratio
since 2005
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Calculation
Apple Inc., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Sep 28, 2024 | = | ÷ | |||
| Sep 30, 2023 | = | ÷ | |||
| Sep 24, 2022 | = | ÷ | |||
| Sep 25, 2021 | = | ÷ | |||
| Sep 26, 2020 | = | ÷ | |||
| Sep 28, 2019 | = | ÷ | |||
| Sep 29, 2018 | = | ÷ | |||
| Sep 30, 2017 | = | ÷ | |||
| Sep 24, 2016 | = | ÷ | |||
| Sep 26, 2015 | = | ÷ | |||
| Sep 27, 2014 | = | ÷ | |||
| Sep 28, 2013 | = | ÷ | |||
| Sep 29, 2012 | = | ÷ | |||
| Sep 24, 2011 | = | ÷ | |||
| Sep 25, 2010 | = | ÷ | |||
| Sep 26, 2009 | = | ÷ | |||
| Sep 27, 2008 | = | ÷ | |||
| Sep 29, 2007 | = | ÷ | |||
| Sep 30, 2006 | = | ÷ | |||
| Sep 24, 2005 | = | ÷ |
Based on: 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), 10-K (reporting date: 2019-09-28), 10-K (reporting date: 2018-09-29), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-24), 10-K (reporting date: 2015-09-26), 10-K (reporting date: 2014-09-27), 10-K (reporting date: 2013-09-28), 10-K (reporting date: 2012-09-29), 10-K (reporting date: 2011-09-24), 10-K (reporting date: 2010-09-25), 10-K (reporting date: 2009-09-26), 10-K (reporting date: 2008-09-27), 10-K (reporting date: 2007-09-29), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-24).
1 US$ in millions
The analysis of the annual financial data reveals several trends regarding liquidity and working capital management over the years examined.
- Current Assets
- Current assets exhibit a consistent upward trend from 2005 to 2024, increasing from 10,300 million US dollars in 2005 to 152,987 million US dollars in 2024. This indicates a steady accumulation of assets that are expected to be converted into cash within the fiscal year. Despite minor fluctuations in some years, the general growth suggests expansion and increased operational scale or improved asset management.
- Current Liabilities
- Current liabilities also show a significant rise over the same period, growing from 3,484 million US dollars in 2005 to 176,392 million US dollars in 2024. This escalation in liabilities is consistent with the increase in current assets but at a relatively sharper pace in recent years. This may imply expanding short-term obligations possibly related to operational costs or financing strategies.
- Current Ratio
- The current ratio, which is a key indicator of short-term liquidity and ability to cover current liabilities with current assets, has shown a declining trend. Starting at a high point of 2.96 in 2005, it gradually decreased over time, falling below 1.0 in 2022 (0.88), slightly recovering to 0.99 in 2023, and then dropping again to 0.87 in 2024. A current ratio consistently above 1 implies adequate liquidity, but the recent dip below 1 suggests potential liquidity stress, meaning current liabilities exceed current assets at these points, which could affect the company's ability to meet short-term obligations without additional financing or asset sales.
In summary, while the company has been increasing both its current assets and liabilities significantly over the last two decades, its liquidity position as measured by the current ratio has deteriorated recently. This decline in the current ratio, especially falling below 1.0, indicates increasing short-term financial risk and may warrant closer management attention to improve working capital efficiency and liquidity maintenance.
Comparison to Competitors
Apple Inc., current ratio, long-term trends, comparison to competitors
| Apple Inc. | Arista Networks Inc. | Cisco Systems Inc. | Dell Technologies Inc. | Super Micro Computer Inc. | |
|---|---|---|---|---|---|
| Sep 28, 2024 | |||||
| Sep 30, 2023 | |||||
| Sep 24, 2022 | |||||
| Sep 25, 2021 | |||||
| Sep 26, 2020 | |||||
| Sep 28, 2019 | |||||
| Sep 29, 2018 | |||||
| Sep 30, 2017 | |||||
| Sep 24, 2016 | |||||
| Sep 26, 2015 | |||||
| Sep 27, 2014 | |||||
| Sep 28, 2013 | |||||
| Sep 29, 2012 | |||||
| Sep 24, 2011 | |||||
| Sep 25, 2010 | |||||
| Sep 26, 2009 | |||||
| Sep 27, 2008 | |||||
| Sep 29, 2007 | |||||
| Sep 30, 2006 | |||||
| Sep 24, 2005 |
Based on: 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), 10-K (reporting date: 2019-09-28), 10-K (reporting date: 2018-09-29), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-24), 10-K (reporting date: 2015-09-26), 10-K (reporting date: 2014-09-27), 10-K (reporting date: 2013-09-28), 10-K (reporting date: 2012-09-29), 10-K (reporting date: 2011-09-24), 10-K (reporting date: 2010-09-25), 10-K (reporting date: 2009-09-26), 10-K (reporting date: 2008-09-27), 10-K (reporting date: 2007-09-29), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-24).
Comparison to Sector (Technology Hardware & Equipment)
Apple Inc., current ratio, long-term trends, comparison to sector (technology hardware & equipment)
| Apple Inc. | Technology Hardware & Equipment | |
|---|---|---|
| Sep 28, 2024 | ||
| Sep 30, 2023 | ||
| Sep 24, 2022 | ||
| Sep 25, 2021 | ||
| Sep 26, 2020 | ||
| Sep 28, 2019 | ||
| Sep 29, 2018 | ||
| Sep 30, 2017 | ||
| Sep 24, 2016 | ||
| Sep 26, 2015 | ||
| Sep 27, 2014 | ||
| Sep 28, 2013 | ||
| Sep 29, 2012 | ||
| Sep 24, 2011 | ||
| Sep 25, 2010 | ||
| Sep 26, 2009 | ||
| Sep 27, 2008 | ||
| Sep 29, 2007 | ||
| Sep 30, 2006 | ||
| Sep 24, 2005 |
Based on: 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), 10-K (reporting date: 2019-09-28), 10-K (reporting date: 2018-09-29), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-24), 10-K (reporting date: 2015-09-26), 10-K (reporting date: 2014-09-27), 10-K (reporting date: 2013-09-28), 10-K (reporting date: 2012-09-29), 10-K (reporting date: 2011-09-24), 10-K (reporting date: 2010-09-25), 10-K (reporting date: 2009-09-26), 10-K (reporting date: 2008-09-27), 10-K (reporting date: 2007-09-29), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-24).
Comparison to Industry (Information Technology)
Apple Inc., current ratio, long-term trends, comparison to industry (information technology)
| Apple Inc. | Information Technology | |
|---|---|---|
| Sep 28, 2024 | ||
| Sep 30, 2023 | ||
| Sep 24, 2022 | ||
| Sep 25, 2021 | ||
| Sep 26, 2020 | ||
| Sep 28, 2019 | ||
| Sep 29, 2018 | ||
| Sep 30, 2017 | ||
| Sep 24, 2016 | ||
| Sep 26, 2015 | ||
| Sep 27, 2014 | ||
| Sep 28, 2013 | ||
| Sep 29, 2012 | ||
| Sep 24, 2011 | ||
| Sep 25, 2010 | ||
| Sep 26, 2009 | ||
| Sep 27, 2008 | ||
| Sep 29, 2007 | ||
| Sep 30, 2006 | ||
| Sep 24, 2005 |
Based on: 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), 10-K (reporting date: 2019-09-28), 10-K (reporting date: 2018-09-29), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-24), 10-K (reporting date: 2015-09-26), 10-K (reporting date: 2014-09-27), 10-K (reporting date: 2013-09-28), 10-K (reporting date: 2012-09-29), 10-K (reporting date: 2011-09-24), 10-K (reporting date: 2010-09-25), 10-K (reporting date: 2009-09-26), 10-K (reporting date: 2008-09-27), 10-K (reporting date: 2007-09-29), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-24).