Apple Inc. (NASDAQ:AAPL)

The financial data exhibits a generally positive trajectory in net income over the analyzed periods, with some fluctuations in the later years. Net income (loss) began at 1,335 million US dollars in 2005 and showed steady growth, reaching a peak of 59,531 million US dollars in 2018. Following this peak, net income values exhibit volatility but remain at a relatively high level, fluctuating between approximately 55,000 and 99,000 million US dollars in the subsequent years. The most recent data point shows a net income of 93,736 million US dollars in 2024, indicating a slight decrease from the peak but still strong in absolute terms.

Shareholders’ equity also has an upward trend but with visible periods of decline. Starting from 7,466 million US dollars in 2005, this metric rose substantially to a peak of 134,047 million US dollars in 2017. However, from 2017 onwards, shareholders’ equity declined sharply to a low of 50,672 million US dollars in 2022. A partial recovery is observed in the most recent years, with equity increasing again to 62,146 million US dollars in 2023 and then slightly decreasing to 56,950 million US dollars in 2024.

The Return on Equity (ROE) percentage reveals a significant upward trend over the entire period, indicating increasing efficiency in generating profits from shareholders’ equity. ROE started at a moderate 17.88% in 2005 and showed a steady increase over the years, reaching exceptionally high levels in the last decade. The ROE peaked dramatically at 196.96% in 2022, reflecting very high profitability relative to equity. Even after this peak, ROE remains elevated at 164.59% in 2024, suggesting the company is generating substantial profits on a reduced equity base.

These patterns indicate a company that has grown markedly in profitability, particularly in recent years, despite variability in equity levels. The steep rise in ROE in recent years likely results from the combination of strong net income performance together with the decline in shareholders’ equity, which magnifies the ratio. The decline in shareholders’ equity starting around 2017 may warrant further investigation to understand the underlying causes, such as dividends, share buybacks, or other capital structure changes.

Net Income

Marked upward trend from 2005 to 2018 with fluctuations thereafter; highest recorded in 2018 at 59,531 million US dollars; recent years maintain strong net income above 55,000 million US dollars.

Shareholders’ Equity

Strong growth until 2017 followed by a sharp decline through 2022; partial recovery in 2023 and 2024; peak value at 134,047 million US dollars in 2017.

Return on Equity (ROE)

Consistent increase over the period; particularly rapid growth after 2015; extraordinarily high ROE values from 2020 onward, peaking at nearly 197% in 2022, reflecting high efficiency and possibly reduced equity levels.