Net Profit Margin
since 2005
Calculation
Apple Inc., net profit margin, long-term trends, calculation
| Net profit margin | = | 100 | × | Net income (loss)1 | ÷ | Net sales1 | |
|---|---|---|---|---|---|---|---|
| Sep 26, 2026 | 27.60% | = | 100 | × | 132,175) | ÷ | 478,834) |
| Sep 27, 2025 | 26.92% | = | 100 | × | 112,010) | ÷ | 416,161) |
| Sep 28, 2024 | 23.97% | = | 100 | × | 93,736) | ÷ | 391,035) |
| Sep 30, 2023 | 25.31% | = | 100 | × | 96,995) | ÷ | 383,285) |
| Sep 24, 2022 | 25.31% | = | 100 | × | 99,803) | ÷ | 394,328) |
| Sep 25, 2021 | 25.88% | = | 100 | × | 94,680) | ÷ | 365,817) |
| Sep 26, 2020 | 20.91% | = | 100 | × | 57,411) | ÷ | 274,515) |
| Sep 28, 2019 | 21.24% | = | 100 | × | 55,256) | ÷ | 260,174) |
| Sep 29, 2018 | 22.41% | = | 100 | × | 59,531) | ÷ | 265,595) |
| Sep 30, 2017 | 21.09% | = | 100 | × | 48,351) | ÷ | 229,234) |
| Sep 24, 2016 | 21.19% | = | 100 | × | 45,687) | ÷ | 215,639) |
| Sep 26, 2015 | 22.85% | = | 100 | × | 53,394) | ÷ | 233,715) |
| Sep 27, 2014 | 21.61% | = | 100 | × | 39,510) | ÷ | 182,795) |
| Sep 28, 2013 | 21.67% | = | 100 | × | 37,037) | ÷ | 170,910) |
| Sep 29, 2012 | 26.67% | = | 100 | × | 41,733) | ÷ | 156,508) |
| Sep 24, 2011 | 23.95% | = | 100 | × | 25,922) | ÷ | 108,249) |
| Sep 25, 2010 | 21.48% | = | 100 | × | 14,013) | ÷ | 65,225) |
| Sep 26, 2009 | 15.61% | = | 100 | × | 5,704) | ÷ | 36,537) |
| Sep 27, 2008 | 14.88% | = | 100 | × | 4,834) | ÷ | 32,479) |
| Sep 29, 2007 | 14.56% | = | 100 | × | 3,496) | ÷ | 24,006) |
| Sep 30, 2006 | 10.30% | = | 100 | × | 1,989) | ÷ | 19,315) |
| Sep 24, 2005 | 9.58% | = | 100 | × | 1,335) | ÷ | 13,931) |
Based on: 10-K (reporting date: 2026-09-26), 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
The financial trajectory from 2005 to 2026 demonstrates a substantial long-term expansion in both absolute profitability and operational efficiency. The net profit margin evolved from 9.58% in 2005 to a projected high of 27.60% by 2026, indicating a significant increase in the company's ability to convert revenue into actual profit.
- Initial Growth and Rapid Expansion (2005–2012)
- A consistent upward trend in net profit margins is observed during this period, rising from 9.58% to a peak of 26.67% in 2012. This growth was supported by a massive acceleration in net sales, which increased from 13.9 billion US dollars in 2005 to 156.5 billion US dollars in 2012. The simultaneous rise in both sales volume and profit margin suggests strong pricing power and scaling efficiencies.
- Period of Margin Stabilization (2013–2020)
- Following the 2012 peak, net profit margins entered a phase of relative stability, fluctuating within a narrow corridor between 20.91% and 22.85%. While net sales continued to grow—reaching 274.5 billion US dollars by 2019—the profit margin remained largely plateaued, suggesting that cost increases scaled proportionally with revenue growth during this interval.
- Modern Performance and Projected Trajectory (2021–2026)
- A renewed increase in profitability occurred in 2021, with the margin climbing to 25.88%. Despite a slight moderation to 23.97% by 2024, the outlook for the subsequent years indicates a strong recovery. Net profit margins are projected to reach 26.92% in 2025 and 27.60% in 2026, coinciding with forecasted net sales of 478.8 billion US dollars. This indicates an expectation of enhanced operational leverage and improved bottom-line performance in the coming years.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.
How can I help you?
Comparison to Competitors
Apple Inc., net profit margin, long-term trends, comparison to competitors
| Apple Inc. | Arista Networks Inc. | Cisco Systems Inc. | Dell Technologies Inc. | Lumentum Holdings Inc. | Super Micro Computer Inc. | |
|---|---|---|---|---|---|---|
| Sep 26, 2026 | 27.60% | — | 20.95% | 5.23% | -230.10% | 5.71% |
| Sep 27, 2025 | 26.92% | 38.99% | 17.97% | 4.81% | 1.57% | 4.77% |
| Sep 28, 2024 | 23.97% | 40.73% | 19.18% | 3.63% | -40.21% | 7.69% |
| Sep 30, 2023 | 25.31% | 35.62% | 22.13% | 2.39% | -7.45% | 8.98% |
| Sep 24, 2022 | 25.31% | 30.87% | 22.91% | 5.50% | 11.61% | 5.49% |
| Sep 25, 2021 | 25.88% | 28.52% | 21.26% | 3.45% | 22.80% | 3.14% |
| Sep 26, 2020 | 20.91% | 27.38% | 22.75% | 5.01% | 8.07% | 2.52% |
| Sep 28, 2019 | 21.24% | 35.67% | 22.39% | -2.55% | -2.33% | 2.05% |
| Sep 29, 2018 | 22.41% | 15.25% | 0.22% | — | 19.88% | 1.37% |
| Sep 30, 2017 | 21.09% | 25.71% | 20.02% | — | -10.23% | 2.69% |
| Sep 24, 2016 | 21.19% | 16.31% | 21.81% | — | 1.03% | 3.25% |
| Sep 26, 2015 | 22.85% | 14.46% | 18.27% | — | -0.41% | 5.12% |
| Sep 27, 2014 | 21.61% | 14.87% | 16.66% | — | — | 3.69% |
| Sep 28, 2013 | 21.67% | — | 20.54% | — | — | 1.83% |
| Sep 29, 2012 | 26.67% | — | 17.46% | — | — | 2.94% |
| Sep 24, 2011 | 23.95% | — | 15.02% | — | — | 4.27% |
| Sep 25, 2010 | 21.48% | — | 19.40% | — | — | 3.73% |
| Sep 26, 2009 | 15.61% | — | 16.98% | — | — | 3.19% |
| Sep 27, 2008 | 14.88% | — | 20.36% | — | — | 4.70% |
| Sep 29, 2007 | 14.56% | — | 21.00% | — | — | 4.60% |
| Sep 30, 2006 | 10.30% | — | 19.59% | — | — | — |
| Sep 24, 2005 | 9.58% | — | 23.15% | — | — | — |
Based on: 10-K (reporting date: 2026-09-26), 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., net profit margin, long-term trends, comparison to sector (technology hardware & equipment)
| Apple Inc. | Technology Hardware & Equipment | |
|---|---|---|
| Sep 26, 2026 | 27.60% | — |
| Sep 27, 2025 | 26.92% | 21.86% |
| Sep 28, 2024 | 23.97% | 19.89% |
| Sep 30, 2023 | 25.31% | 20.57% |
| Sep 24, 2022 | 25.31% | 21.31% |
| Sep 25, 2021 | 25.88% | 21.21% |
| Sep 26, 2020 | 20.91% | 17.50% |
| Sep 28, 2019 | 21.24% | 15.96% |
| Sep 29, 2018 | 22.41% | 18.73% |
| Sep 30, 2017 | 21.09% | 20.66% |
| Sep 24, 2016 | 21.19% | 21.06% |
| Sep 26, 2015 | 22.85% | 21.84% |
| Sep 27, 2014 | 21.61% | 20.48% |
| Sep 28, 2013 | 21.67% | 21.32% |
| Sep 29, 2012 | 26.67% | 24.46% |
| Sep 24, 2011 | 23.95% | 21.29% |
| Sep 25, 2010 | 21.48% | 20.58% |
| Sep 26, 2009 | 15.61% | 16.20% |
| Sep 27, 2008 | 14.88% | 17.79% |
| Sep 29, 2007 | 14.56% | 18.28% |
| Sep 30, 2006 | 10.30% | 15.84% |
| Sep 24, 2005 | 9.58% | 18.27% |
Based on: 10-K (reporting date: 2026-09-26), 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., net profit margin, long-term trends, comparison to industry (information technology)
| Apple Inc. | Information Technology | |
|---|---|---|
| Sep 26, 2026 | 27.60% | — |
| Sep 27, 2025 | 26.92% | 25.55% |
| Sep 28, 2024 | 23.97% | 20.44% |
| Sep 30, 2023 | 25.31% | 20.26% |
| Sep 24, 2022 | 25.31% | 22.33% |
| Sep 25, 2021 | 25.88% | 23.54% |
| Sep 26, 2020 | 20.91% | 19.76% |
| Sep 28, 2019 | 21.24% | 19.73% |
| Sep 29, 2018 | 22.41% | 18.59% |
| Sep 30, 2017 | 21.09% | 17.77% |
| Sep 24, 2016 | 21.19% | 17.58% |
| Sep 26, 2015 | 22.85% | 18.32% |
| Sep 27, 2014 | 21.61% | 19.33% |
| Sep 28, 2013 | 21.67% | 20.15% |
| Sep 29, 2012 | 26.67% | 20.07% |
| Sep 24, 2011 | 23.95% | 20.71% |
| Sep 25, 2010 | 21.48% | 20.19% |
| Sep 26, 2009 | 15.61% | 14.45% |
| Sep 27, 2008 | 14.88% | 15.07% |
| Sep 29, 2007 | 14.56% | 15.71% |
| Sep 30, 2006 | 10.30% | 16.26% |
| Sep 24, 2005 | 9.58% | 16.64% |
Based on: 10-K (reporting date: 2026-09-26), 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).