Current Ratio
since 2005
Calculation
Apple Inc., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Sep 27, 2025 | 0.89 | = | 147,957) | ÷ | 165,631) |
| Sep 28, 2024 | 0.87 | = | 152,987) | ÷ | 176,392) |
| Sep 30, 2023 | 0.99 | = | 143,566) | ÷ | 145,308) |
| Sep 24, 2022 | 0.88 | = | 135,405) | ÷ | 153,982) |
| Sep 25, 2021 | 1.07 | = | 134,836) | ÷ | 125,481) |
| Sep 26, 2020 | 1.36 | = | 143,713) | ÷ | 105,392) |
| Sep 28, 2019 | 1.54 | = | 162,819) | ÷ | 105,718) |
| Sep 29, 2018 | 1.12 | = | 131,339) | ÷ | 116,866) |
| Sep 30, 2017 | 1.28 | = | 128,645) | ÷ | 100,814) |
| Sep 24, 2016 | 1.35 | = | 106,869) | ÷ | 79,006) |
| Sep 26, 2015 | 1.11 | = | 89,378) | ÷ | 80,610) |
| Sep 27, 2014 | 1.08 | = | 68,531) | ÷ | 63,448) |
| Sep 28, 2013 | 1.68 | = | 73,286) | ÷ | 43,658) |
| Sep 29, 2012 | 1.50 | = | 57,653) | ÷ | 38,542) |
| Sep 24, 2011 | 1.61 | = | 44,988) | ÷ | 27,970) |
| Sep 25, 2010 | 2.01 | = | 41,678) | ÷ | 20,722) |
| Sep 26, 2009 | 1.88 | = | 36,265) | ÷ | 19,282) |
| Sep 27, 2008 | 2.46 | = | 34,690) | ÷ | 14,092) |
| Sep 29, 2007 | 2.36 | = | 21,956) | ÷ | 9,299) |
| Sep 30, 2006 | 2.24 | = | 14,509) | ÷ | 6,471) |
| Sep 24, 2005 | 2.96 | = | 10,300) | ÷ | 3,484) |
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), 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
- Current Assets Trend
- Current assets demonstrated a consistent upward trajectory from 2005 through 2025, increasing from approximately 10.3 billion USD to nearly 148 billion USD. This growth was relatively steady with notable accelerations around 2012 to 2015 and during the period from 2017 to 2019. Although some periods, such as 2014 to 2015 and 2020 to 2021, showed slight declines, the overall pattern indicates strong asset accumulation over the two decades.
- Current Liabilities Trend
- Current liabilities similarly increased dramatically over the same period, rising from about 3.5 billion USD in 2005 to approximately 166 billion USD in 2025. The increment was particularly pronounced from 2008 to 2015 and again from 2017 onward. Despite the increases, the rate of growth in liabilities generally outpaced the increase in assets, leading to changes in liquidity measures over time.
- Current Ratio Analysis
- The current ratio experienced a declining trend from 2005 to 2025. Initially, the ratio was well above 2.0, indicating a strong liquidity position, but it gradually decreased and mostly hovered below 1.5 after 2010, reaching lows below 1.0 in the later years. This downward trend suggests a reduction in short-term liquidity, with current liabilities growing faster than current assets, potentially signaling increased short-term financial risk or more aggressive liabilities management.
- Overall Financial Insights
- The data reveals robust growth in both current assets and current liabilities, reflecting expansion and possibly increased operational scale. However, the declining current ratio over time highlights a shift in liquidity dynamics, where short-term obligations are approaching or exceeding short-term assets. This could imply greater reliance on current liabilities for financing or tighter working capital conditions. Management might need to carefully monitor liquidity to ensure continued operational stability.
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 27, 2025 | 0.89 | — | 1.00 | 0.78 | 5.25 |
| Sep 28, 2024 | 0.87 | 4.36 | 0.91 | 0.74 | 3.81 |
| Sep 30, 2023 | 0.99 | 4.39 | 1.38 | 0.82 | 2.31 |
| Sep 24, 2022 | 0.88 | 4.29 | 1.43 | 0.80 | 1.91 |
| Sep 25, 2021 | 1.07 | 4.34 | 1.49 | 0.80 | 1.93 |
| Sep 26, 2020 | 1.36 | 4.99 | 1.72 | 0.70 | 2.25 |
| Sep 28, 2019 | 1.54 | 5.81 | 1.51 | 0.80 | 2.35 |
| Sep 29, 2018 | 1.12 | 4.48 | 2.29 | — | 1.89 |
| Sep 30, 2017 | 1.28 | 4.28 | 3.03 | — | 1.88 |
| Sep 24, 2016 | 1.35 | 3.32 | 3.16 | — | 2.58 |
| Sep 26, 2015 | 1.11 | 4.15 | 3.23 | — | 2.01 |
| Sep 27, 2014 | 1.08 | 4.71 | 3.39 | — | 2.10 |
| Sep 28, 2013 | 1.68 | — | 2.95 | — | 2.16 |
| Sep 29, 2012 | 1.50 | — | 3.49 | — | 2.19 |
| Sep 24, 2011 | 1.61 | — | 3.27 | — | 2.63 |
| Sep 25, 2010 | 2.01 | — | 2.67 | — | 2.15 |
| Sep 26, 2009 | 1.88 | — | 3.24 | — | 2.47 |
| Sep 27, 2008 | 2.46 | — | 2.58 | — | 2.05 |
| Sep 29, 2007 | 2.36 | — | 2.36 | — | 2.21 |
| Sep 30, 2006 | 2.24 | — | 2.27 | — | — |
| Sep 24, 2005 | 2.96 | — | 1.37 | — | — |
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), 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 27, 2025 | 0.89 | — |
| Sep 28, 2024 | 0.87 | 0.91 |
| Sep 30, 2023 | 0.99 | 1.04 |
| Sep 24, 2022 | 0.88 | 0.95 |
| Sep 25, 2021 | 1.07 | 1.08 |
| Sep 26, 2020 | 1.36 | 1.24 |
| Sep 28, 2019 | 1.54 | 1.37 |
| Sep 29, 2018 | 1.12 | 1.36 |
| Sep 30, 2017 | 1.28 | 1.67 |
| Sep 24, 2016 | 1.35 | 1.80 |
| Sep 26, 2015 | 1.11 | 1.60 |
| Sep 27, 2014 | 1.08 | 1.64 |
| Sep 28, 2013 | 1.68 | 2.11 |
| Sep 29, 2012 | 1.50 | 2.13 |
| Sep 24, 2011 | 1.61 | 2.25 |
| Sep 25, 2010 | 2.01 | 2.33 |
| Sep 26, 2009 | 1.88 | 2.44 |
| Sep 27, 2008 | 2.46 | 2.52 |
| Sep 29, 2007 | 2.36 | 2.36 |
| Sep 30, 2006 | 2.24 | 2.26 |
| Sep 24, 2005 | 2.96 | 1.80 |
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), 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 27, 2025 | 0.89 | — |
| Sep 28, 2024 | 0.87 | 1.24 |
| Sep 30, 2023 | 0.99 | 1.41 |
| Sep 24, 2022 | 0.88 | 1.37 |
| Sep 25, 2021 | 1.07 | 1.55 |
| Sep 26, 2020 | 1.36 | 1.71 |
| Sep 28, 2019 | 1.54 | 1.66 |
| Sep 29, 2018 | 1.12 | 1.88 |
| Sep 30, 2017 | 1.28 | 2.04 |
| Sep 24, 2016 | 1.35 | 2.01 |
| Sep 26, 2015 | 1.11 | 2.03 |
| Sep 27, 2014 | 1.08 | 1.97 |
| Sep 28, 2013 | 1.68 | 2.20 |
| Sep 29, 2012 | 1.50 | 2.07 |
| Sep 24, 2011 | 1.61 | 2.11 |
| Sep 25, 2010 | 2.01 | 2.01 |
| Sep 26, 2009 | 1.88 | 2.03 |
| Sep 27, 2008 | 2.46 | 1.80 |
| Sep 29, 2007 | 2.36 | 1.79 |
| Sep 30, 2006 | 2.24 | 1.85 |
| Sep 24, 2005 | 2.96 | 2.01 |
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), 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).