Stock Analysis on Net

Apple Inc. (NASDAQ:AAPL)

Analysis of Long-term (Investment) Activity Ratios 

Microsoft Excel

Long-term Activity Ratios (Summary)

Apple Inc., long-term (investment) activity ratios

Microsoft Excel
Sep 24, 2022 Sep 25, 2021 Sep 26, 2020 Sep 28, 2019 Sep 29, 2018 Sep 30, 2017
Net fixed asset turnover 9.36 9.28 7.47 6.96 6.43 6.79
Net fixed asset turnover (including operating lease, right-of-use asset) 7.51 7.39 6.06 6.96 6.43 6.79
Total asset turnover 1.12 1.04 0.85 0.77 0.73 0.61
Equity turnover 7.78 5.80 4.20 2.88 2.48 1.71

Based on: 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).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Apple Inc. net fixed asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Apple Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2020 to 2021 and from 2021 to 2022.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Apple Inc. total asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Apple Inc. equity turnover ratio improved from 2020 to 2021 and from 2021 to 2022.

Net Fixed Asset Turnover

Apple Inc., net fixed asset turnover calculation, comparison to benchmarks

Microsoft Excel
Sep 24, 2022 Sep 25, 2021 Sep 26, 2020 Sep 28, 2019 Sep 29, 2018 Sep 30, 2017
Selected Financial Data (US$ in millions)
Net sales 394,328 365,817 274,515 260,174 265,595 229,234
Property, plant and equipment, net 42,117 39,440 36,766 37,378 41,304 33,783
Long-term Activity Ratio
Net fixed asset turnover1 9.36 9.28 7.47 6.96 6.43 6.79
Benchmarks
Net Fixed Asset Turnover, Competitors2
Cisco Systems Inc. 25.82 21.31 20.10 18.61 16.41 14.45
Enphase Energy Inc. 16.82 18.02 21.58 15.06 10.81
Net Fixed Asset Turnover, Sector
Technology Hardware & Equipment 9.96 8.27 7.78 7.11 7.47
Net Fixed Asset Turnover, Industry
Information Technology 4.54 4.32 4.37 4.63 4.76

Based on: 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).

1 2022 Calculation
Net fixed asset turnover = Net sales ÷ Property, plant and equipment, net
= 394,328 ÷ 42,117 = 9.36

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Apple Inc. net fixed asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Apple Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

Microsoft Excel
Sep 24, 2022 Sep 25, 2021 Sep 26, 2020 Sep 28, 2019 Sep 29, 2018 Sep 30, 2017
Selected Financial Data (US$ in millions)
Net sales 394,328 365,817 274,515 260,174 265,595 229,234
 
Property, plant and equipment, net 42,117 39,440 36,766 37,378 41,304 33,783
Right-of-use assets, operating leases (included in Other non-current assets) 10,417 10,087 8,570
Property, plant and equipment, net (including operating lease, right-of-use asset) 52,534 49,527 45,336 37,378 41,304 33,783
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 7.51 7.39 6.06 6.96 6.43 6.79
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Cisco Systems Inc. 17.19 14.51 14.61 18.61 16.41 14.45
Enphase Energy Inc. 14.31 12.76 15.99 15.06 10.81
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Technology Hardware & Equipment 7.86 6.66 7.78 7.11 7.47
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Information Technology 3.88 3.67 4.07 4.48 4.76

Based on: 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).

1 2022 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Net sales ÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= 394,328 ÷ 52,534 = 7.51

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Apple Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2020 to 2021 and from 2021 to 2022.

Total Asset Turnover

Apple Inc., total asset turnover calculation, comparison to benchmarks

Microsoft Excel
Sep 24, 2022 Sep 25, 2021 Sep 26, 2020 Sep 28, 2019 Sep 29, 2018 Sep 30, 2017
Selected Financial Data (US$ in millions)
Net sales 394,328 365,817 274,515 260,174 265,595 229,234
Total assets 352,755 351,002 323,888 338,516 365,725 375,319
Long-term Activity Ratio
Total asset turnover1 1.12 1.04 0.85 0.77 0.73 0.61
Benchmarks
Total Asset Turnover, Competitors2
Cisco Systems Inc. 0.55 0.51 0.52 0.53 0.45 0.37
Enphase Energy Inc. 0.66 0.65 0.88 0.93 1.69
Total Asset Turnover, Sector
Technology Hardware & Equipment 0.93 0.77 0.72 0.66 0.55
Total Asset Turnover, Industry
Information Technology 0.59 0.54 0.56 0.57 0.49

Based on: 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).

1 2022 Calculation
Total asset turnover = Net sales ÷ Total assets
= 394,328 ÷ 352,755 = 1.12

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Apple Inc. total asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022.

Equity Turnover

Apple Inc., equity turnover calculation, comparison to benchmarks

Microsoft Excel
Sep 24, 2022 Sep 25, 2021 Sep 26, 2020 Sep 28, 2019 Sep 29, 2018 Sep 30, 2017
Selected Financial Data (US$ in millions)
Net sales 394,328 365,817 274,515 260,174 265,595 229,234
Shareholders’ equity 50,672 63,090 65,339 90,488 107,147 134,047
Long-term Activity Ratio
Equity turnover1 7.78 5.80 4.20 2.88 2.48 1.71
Benchmarks
Equity Turnover, Competitors2
Cisco Systems Inc. 1.30 1.21 1.30 1.55 1.14 0.73
Enphase Energy Inc. 3.21 1.60 2.29 40.66
Equity Turnover, Sector
Technology Hardware & Equipment 3.98 3.13 2.52 2.10 1.39
Equity Turnover, Industry
Information Technology 1.60 1.57 1.59 1.56 1.26

Based on: 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).

1 2022 Calculation
Equity turnover = Net sales ÷ Shareholders’ equity
= 394,328 ÷ 50,672 = 7.78

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Apple Inc. equity turnover ratio improved from 2020 to 2021 and from 2021 to 2022.