Stock Analysis on Net

Apple Inc. (NASDAQ:AAPL)

Analysis of Long-term (Investment) Activity Ratios

Microsoft Excel LibreOffice Calc

Long-term Activity Ratios (Summary)

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

Microsoft Excel LibreOffice Calc
Sep 25, 2021 Sep 26, 2020 Sep 28, 2019 Sep 29, 2018 Sep 30, 2017 Sep 24, 2016
Net fixed asset turnover 9.28 7.47 6.96 6.43 6.79 7.98
Net fixed asset turnover (including operating lease, right-of-use asset) 7.39 6.06 6.96 6.43 6.79 7.98
Total asset turnover 1.04 0.85 0.77 0.73 0.61 0.67
Equity turnover 5.80 4.20 2.88 2.48 1.71 1.68

Based on: 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).

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 2019 to 2020 and from 2020 to 2021.
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) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Apple Inc. total asset turnover ratio improved from 2019 to 2020 and from 2020 to 2021.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Apple Inc. equity turnover ratio improved from 2019 to 2020 and from 2020 to 2021.

Net Fixed Asset Turnover

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

Microsoft Excel LibreOffice Calc
Sep 25, 2021 Sep 26, 2020 Sep 28, 2019 Sep 29, 2018 Sep 30, 2017 Sep 24, 2016
Selected Financial Data (US$ in millions)
Net sales 365,817  274,515  260,174  265,595  229,234  215,639 
Property, plant and equipment, net 39,440  36,766  37,378  41,304  33,783  27,010 
Long-term Activity Ratio
Net fixed asset turnover1 9.28 7.47 6.96 6.43 6.79 7.98
Benchmarks
Net Fixed Asset Turnover, Competitors2
Cisco Systems Inc. 21.31 20.10 18.61 16.41 14.45 14.05
Net Fixed Asset Turnover, Sector
Technology Hardware & Equipment 8.26 7.77 7.11 7.47 8.68
Net Fixed Asset Turnover, Industry
Information Technology 4.50 4.52 4.79 4.92 5.44

Based on: 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).

1 2021 Calculation
Net fixed asset turnover = Net sales ÷ Property, plant and equipment, net
= 365,817 ÷ 39,440 = 9.28

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 2019 to 2020 and from 2020 to 2021.

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 LibreOffice Calc
Sep 25, 2021 Sep 26, 2020 Sep 28, 2019 Sep 29, 2018 Sep 30, 2017 Sep 24, 2016
Selected Financial Data (US$ in millions)
Net sales 365,817  274,515  260,174  265,595  229,234  215,639 
 
Property, plant and equipment, net 39,440  36,766  37,378  41,304  33,783  27,010 
Right-of-use assets, operating leases (included in Other non-current assets) 10,087  8,570  —  —  —  — 
Property, plant and equipment, net (including operating lease, right-of-use asset) 49,527  45,336  37,378  41,304  33,783  27,010 
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 7.39 6.06 6.96 6.43 6.79 7.98
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Cisco Systems Inc. 14.51 14.61 18.61 16.41 14.45 14.05
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Technology Hardware & Equipment 6.65 7.77 7.11 7.47 8.68
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Information Technology 3.80 4.19 4.62 4.92 5.44

Based on: 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).

1 2021 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)
= 365,817 ÷ 49,527 = 7.39

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) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Total Asset Turnover

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

Microsoft Excel LibreOffice Calc
Sep 25, 2021 Sep 26, 2020 Sep 28, 2019 Sep 29, 2018 Sep 30, 2017 Sep 24, 2016
Selected Financial Data (US$ in millions)
Net sales 365,817  274,515  260,174  265,595  229,234  215,639 
Total assets 351,002  323,888  338,516  365,725  375,319  321,686 
Long-term Activity Ratio
Total asset turnover1 1.04 0.85 0.77 0.73 0.61 0.67
Benchmarks
Total Asset Turnover, Competitors2
Cisco Systems Inc. 0.51 0.52 0.53 0.45 0.37 0.40
Total Asset Turnover, Sector
Technology Hardware & Equipment 0.77 0.72 0.66 0.55 0.60
Total Asset Turnover, Industry
Information Technology 0.51 0.52 0.56 0.49 0.52

Based on: 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).

1 2021 Calculation
Total asset turnover = Net sales ÷ Total assets
= 365,817 ÷ 351,002 = 1.04

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 2019 to 2020 and from 2020 to 2021.

Equity Turnover

Apple Inc., equity turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Sep 25, 2021 Sep 26, 2020 Sep 28, 2019 Sep 29, 2018 Sep 30, 2017 Sep 24, 2016
Selected Financial Data (US$ in millions)
Net sales 365,817  274,515  260,174  265,595  229,234  215,639 
Shareholders’ equity 63,090  65,339  90,488  107,147  134,047  128,249 
Long-term Activity Ratio
Equity turnover1 5.80 4.20 2.88 2.48 1.71 1.68
Benchmarks
Equity Turnover, Competitors2
Cisco Systems Inc. 1.21 1.30 1.55 1.14 0.73 0.77
Equity Turnover, Sector
Technology Hardware & Equipment 3.14 2.52 2.09 1.38 1.38
Equity Turnover, Industry
Information Technology 1.46 1.45 1.60 1.28 1.27

Based on: 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).

1 2021 Calculation
Equity turnover = Net sales ÷ Shareholders’ equity
= 365,817 ÷ 63,090 = 5.80

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 2019 to 2020 and from 2020 to 2021.