Analysis of Geographic Areas
Apple Inc. operates in 3 regions: U.S.; China (includes Hong Kong and Taiwan); and Other countries.
Area Asset Turnover
Apple Inc., asset turnover by geographic area
| Sep 30, 2023 | Sep 24, 2022 | Sep 25, 2021 | Sep 26, 2020 | Sep 28, 2019 | Sep 29, 2018 | |
|---|---|---|---|---|---|---|
| U.S. | 4.16 | 4.75 | 4.74 | 4.22 | 4.14 | 4.09 |
| China (includes Hong Kong and Taiwan) | 12.56 | 10.22 | 9.09 | 5.56 | 4.82 | 3.91 |
| Other countries | 36.93 | 46.09 | 44.04 | 34.53 | 31.70 | 28.38 |
Based on: 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).
| Area activity ratio | Geographic area | The company |
|---|---|---|
| Area asset turnover | U.S. | U.S. area asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
| China (includes Hong Kong and Taiwan) | China (includes Hong Kong and Taiwan) area asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. | |
| Other countries | Other countries area asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Area Asset Turnover: U.S.
Apple Inc.; U.S.; area asset turnover calculation
| Sep 30, 2023 | Sep 24, 2022 | Sep 25, 2021 | Sep 26, 2020 | Sep 28, 2019 | Sep 29, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net sales | 138,573) | 147,859) | 133,803) | 109,197) | 102,266) | 98,061) |
| Long-lived assets | 33,276) | 31,119) | 28,203) | 25,890) | 24,711) | 23,963) |
| Area Activity Ratio | ||||||
| Area asset turnover1 | 4.16 | 4.75 | 4.74 | 4.22 | 4.14 | 4.09 |
Based on: 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).
1 2023 Calculation
Area asset turnover = Net sales ÷ Long-lived assets
= 138,573 ÷ 33,276 = 4.16
| Area activity ratio | Geographic area | The company |
|---|---|---|
| Area asset turnover | U.S. | U.S. area asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Area Asset Turnover: China (includes Hong Kong and Taiwan)
Apple Inc.; China (includes Hong Kong and Taiwan); area asset turnover calculation
| Sep 30, 2023 | Sep 24, 2022 | Sep 25, 2021 | Sep 26, 2020 | Sep 28, 2019 | Sep 29, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net sales | 72,559) | 74,200) | 68,366) | 40,308) | 43,678) | 51,942) |
| Long-lived assets | 5,778) | 7,260) | 7,521) | 7,256) | 9,064) | 13,268) |
| Area Activity Ratio | ||||||
| Area asset turnover1 | 12.56 | 10.22 | 9.09 | 5.56 | 4.82 | 3.91 |
Based on: 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).
1 2023 Calculation
Area asset turnover = Net sales ÷ Long-lived assets
= 72,559 ÷ 5,778 = 12.56
| Area activity ratio | Geographic area | The company |
|---|---|---|
| Area asset turnover | China (includes Hong Kong and Taiwan) | China (includes Hong Kong and Taiwan) area asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Area Asset Turnover: Other countries
Apple Inc.; Other countries; area asset turnover calculation
| Sep 30, 2023 | Sep 24, 2022 | Sep 25, 2021 | Sep 26, 2020 | Sep 28, 2019 | Sep 29, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net sales | 172,153) | 172,269) | 163,648) | 125,010) | 114,230) | 115,592) |
| Long-lived assets | 4,661) | 3,738) | 3,716) | 3,620) | 3,603) | 4,073) |
| Area Activity Ratio | ||||||
| Area asset turnover1 | 36.93 | 46.09 | 44.04 | 34.53 | 31.70 | 28.38 |
Based on: 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).
1 2023 Calculation
Area asset turnover = Net sales ÷ Long-lived assets
= 172,153 ÷ 4,661 = 36.93
| Area activity ratio | Geographic area | The company |
|---|---|---|
| Area asset turnover | Other countries | Other countries area asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Net sales
Apple Inc., net sales by geographic area
US$ in millions
| Sep 30, 2023 | Sep 24, 2022 | Sep 25, 2021 | Sep 26, 2020 | Sep 28, 2019 | Sep 29, 2018 | |
|---|---|---|---|---|---|---|
| U.S. | 138,573) | 147,859) | 133,803) | 109,197) | 102,266) | 98,061) |
| China (includes Hong Kong and Taiwan) | 72,559) | 74,200) | 68,366) | 40,308) | 43,678) | 51,942) |
| Other countries | 172,153) | 172,269) | 163,648) | 125,010) | 114,230) | 115,592) |
| Total | 383,285) | 394,328) | 365,817) | 274,515) | 260,174) | 265,595) |
Based on: 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).
Long-lived assets
Apple Inc., long-lived assets by geographic area
US$ in millions
| Sep 30, 2023 | Sep 24, 2022 | Sep 25, 2021 | Sep 26, 2020 | Sep 28, 2019 | Sep 29, 2018 | |
|---|---|---|---|---|---|---|
| U.S. | 33,276) | 31,119) | 28,203) | 25,890) | 24,711) | 23,963) |
| China (includes Hong Kong and Taiwan) | 5,778) | 7,260) | 7,521) | 7,256) | 9,064) | 13,268) |
| Other countries | 4,661) | 3,738) | 3,716) | 3,620) | 3,603) | 4,073) |
| Total | 43,715) | 42,117) | 39,440) | 36,766) | 37,378) | 41,304) |
Based on: 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).