Stock Analysis on Net
Stock Analysis on Net

Apple Inc. (NASDAQ:AAPL)

Analysis of Long-term (Investment) Activity Ratios
Quarterly Data

Beginner level

Long-term Activity Ratios (Summary)

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

Microsoft Excel LibreOffice Calc
Sep 26, 2020 Jun 27, 2020 Mar 28, 2020 Dec 28, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019 Dec 29, 2018 Sep 29, 2018 Jun 30, 2018 Mar 31, 2018 Dec 30, 2017 Sep 30, 2017 Jul 1, 2017 Apr 1, 2017 Dec 31, 2016 Sep 24, 2016 Jun 25, 2016 Mar 26, 2016 Dec 26, 2015 Sep 26, 2015 Jun 27, 2015 Mar 28, 2015 Dec 27, 2014
Net fixed asset turnover 7.47 7.67 7.47 7.23 6.96 6.88 6.67 6.61 6.43 6.70 7.05 7.10 6.79 7.63 8.12 8.23 7.98 8.66 9.81 10.54 10.40
Total asset turnover 0.85 0.86 0.84 0.79 0.77 0.80 0.76 0.70 0.73 0.73 0.67 0.59 0.61 0.65 0.66 0.66 0.67 0.72 0.75 0.80 0.80
Equity turnover 4.20 3.79 3.42 2.99 2.88 2.69 2.44 2.22 2.48 2.22 1.95 1.71 1.71 1.69 1.64 1.65 1.68 1.74 1.74 1.83 1.96

Based on: 10-K (filing date: 2020-10-30), 10-Q (filing date: 2020-07-31), 10-Q (filing date: 2020-05-01), 10-Q (filing date: 2020-01-29), 10-K (filing date: 2019-10-31), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-05-01), 10-Q (filing date: 2019-01-30), 10-K (filing date: 2018-11-05), 10-Q (filing date: 2018-08-01), 10-Q (filing date: 2018-05-02), 10-Q (filing date: 2018-02-02), 10-K (filing date: 2017-11-03), 10-Q (filing date: 2017-08-02), 10-Q (filing date: 2017-05-03), 10-Q (filing date: 2017-02-01), 10-K (filing date: 2016-10-26), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-27), 10-Q (filing date: 2016-01-27), 10-K (filing date: 2015-10-28), 10-Q (filing date: 2015-07-22), 10-Q (filing date: 2015-04-28), 10-Q (filing date: 2015-01-28).

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.’s net fixed asset turnover ratio improved from Q2 2020 to Q3 2020 but then deteriorated significantly from Q3 2020 to Q4 2020.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Apple Inc.’s total asset turnover ratio improved from Q2 2020 to Q3 2020 but then slightly deteriorated from Q3 2020 to Q4 2020 not reaching Q2 2020 level.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Apple Inc.’s equity turnover ratio improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.

Net Fixed Asset Turnover

Apple Inc., net fixed asset turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 26, 2020 Jun 27, 2020 Mar 28, 2020 Dec 28, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019 Dec 29, 2018 Sep 29, 2018 Jun 30, 2018 Mar 31, 2018 Dec 30, 2017 Sep 30, 2017 Jul 1, 2017 Apr 1, 2017 Dec 31, 2016 Sep 24, 2016 Jun 25, 2016 Mar 26, 2016 Dec 26, 2015 Sep 26, 2015 Jun 27, 2015 Mar 28, 2015 Dec 27, 2014
Selected Financial Data (US$ in millions)
Net sales 64,698  59,685  58,313  91,819  64,040  53,809  58,015  84,310  62,900  53,265  61,137  88,293  52,579  45,408  52,896  78,351  46,852  42,358  50,557  75,872  51,501  49,605  58,010  74,599 
Property, plant and equipment, net 36,766  35,687  35,889  37,031  37,378  37,636  38,746  39,597  41,304  38,117  35,077  33,679  33,783  29,286  27,163  26,510  27,010  25,448  23,203  22,300  22,471  21,149  20,151  20,392 
Long-term Activity Ratio
Net fixed asset turnover1 7.47 7.67 7.47 7.23 6.96 6.88 6.67 6.61 6.43 6.70 7.05 7.10 6.79 7.63 8.12 8.23 7.98 8.66 9.81 10.54 10.40
Benchmarks
Net Fixed Asset Turnover, Competitors2
Advanced Micro Devices Inc. 14.53 13.07 13.42 13.46 13.30 12.83 16.18 18.61 20.55 22.12 20.66 20.42 21.00 23.10 24.58 26.05 25.61 22.95 21.55 21.23
Analog Devices Inc. 5.00 4.87 4.66 4.77 4.91 5.03 5.15 5.27 5.37 5.55 5.39 5.06 4.61 4.16 3.68 5.78 5.38 5.40 5.41 5.42 5.33
Applied Materials Inc. 10.63 10.06 9.66 9.55 9.83 10.56 11.54 12.26 13.03 13.11 12.94 13.64 13.92 13.36 12.48 11.55 10.93 10.58 10.53 10.83 10.83 10.52 10.70
Broadcom Inc. 9.04 8.74 8.66 8.81 8.53 8.22 7.94 7.91 7.51 7.22 6.85 6.79 5.82 5.89 5.90 5.28 4.25 3.57 4.62 4.67 4.72 4.54 4.09
Cisco Systems Inc. 20.10 19.95 19.67 19.48 18.61 18.11 17.34 17.00 16.41 15.78 15.45 14.92 14.45 14.29 14.19 13.98 14.05 14.01 14.65 14.82 14.75
Intel Corp. 1.32 1.36 1.33 1.30 1.31 1.37 1.42 1.45 1.47 1.44 1.46 1.53 1.57 1.62 1.64 1.64 1.67 1.67 1.72 1.74
Lam Research Corp. 9.37 9.17 9.12 9.21 9.12 10.01 10.73 11.49 12.27 12.46 11.84 11.88 11.69 10.68 9.48 9.11 9.20 8.76 9.17 8.96 8.46
Micron Technology Inc. 0.69 0.67 0.66 0.70 0.83 0.99 1.14 1.27 1.28 1.24 1.18 1.12 1.05 0.92 0.77 0.85 0.84 0.97 1.16 1.35 1.53
NVIDIA Corp. 6.52 6.60 6.86 7.28 8.34 9.61 10.22 10.30 9.74 14.96 14.44 13.99 13.26 12.20 11.21 10.78 10.75 10.19 9.62 8.65 8.40
Qualcomm Inc. 6.34 5.74 7.37 7.73 7.88 8.32 7.21 7.33 7.64 7.43 7.01 6.94 6.93 7.13 7.58 10.47 10.21 9.75 9.46 9.64 9.98
Texas Instruments Inc. 4.31 4.28 4.37 4.35 4.45 4.53 4.70 4.96 5.18 5.49 5.61 5.62 5.70 5.64 5.50 5.32 5.17 5.04 5.03 5.01

Based on: 10-K (filing date: 2020-10-30), 10-Q (filing date: 2020-07-31), 10-Q (filing date: 2020-05-01), 10-Q (filing date: 2020-01-29), 10-K (filing date: 2019-10-31), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-05-01), 10-Q (filing date: 2019-01-30), 10-K (filing date: 2018-11-05), 10-Q (filing date: 2018-08-01), 10-Q (filing date: 2018-05-02), 10-Q (filing date: 2018-02-02), 10-K (filing date: 2017-11-03), 10-Q (filing date: 2017-08-02), 10-Q (filing date: 2017-05-03), 10-Q (filing date: 2017-02-01), 10-K (filing date: 2016-10-26), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-27), 10-Q (filing date: 2016-01-27), 10-K (filing date: 2015-10-28), 10-Q (filing date: 2015-07-22), 10-Q (filing date: 2015-04-28), 10-Q (filing date: 2015-01-28).

1 Q4 2020 Calculation
Net fixed asset turnover = (Net salesQ4 2020 + Net salesQ3 2020 + Net salesQ2 2020 + Net salesQ1 2020) ÷ Property, plant and equipment, net
= (64,698 + 59,685 + 58,313 + 91,819) ÷ 36,766 = 7.47

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.’s net fixed asset turnover ratio improved from Q2 2020 to Q3 2020 but then deteriorated significantly from Q3 2020 to Q4 2020.

Total Asset Turnover

Apple Inc., total asset turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 26, 2020 Jun 27, 2020 Mar 28, 2020 Dec 28, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019 Dec 29, 2018 Sep 29, 2018 Jun 30, 2018 Mar 31, 2018 Dec 30, 2017 Sep 30, 2017 Jul 1, 2017 Apr 1, 2017 Dec 31, 2016 Sep 24, 2016 Jun 25, 2016 Mar 26, 2016 Dec 26, 2015 Sep 26, 2015 Jun 27, 2015 Mar 28, 2015 Dec 27, 2014
Selected Financial Data (US$ in millions)
Net sales 64,698  59,685  58,313  91,819  64,040  53,809  58,015  84,310  62,900  53,265  61,137  88,293  52,579  45,408  52,896  78,351  46,852  42,358  50,557  75,872  51,501  49,605  58,010  74,599 
Total assets 323,888  317,344  320,400  340,618  338,516  322,239  341,998  373,719  365,725  349,197  367,502  406,794  375,319  345,173  334,532  331,141  321,686  305,602  305,277  293,284  290,479  273,151  261,194  261,894 
Long-term Activity Ratio
Total asset turnover1 0.85 0.86 0.84 0.79 0.77 0.80 0.76 0.70 0.73 0.73 0.67 0.59 0.61 0.65 0.66 0.66 0.67 0.72 0.75 0.80 0.80
Benchmarks
Total Asset Turnover, Competitors2
Advanced Micro Devices Inc. 1.23 1.16 1.24 1.12 1.15 1.15 1.24 1.42 1.50 1.59 1.59 1.51 1.38 1.37 1.34 1.29 1.14 1.17 1.27 1.28
Analog Devices Inc. 0.26 0.26 0.26 0.27 0.28 0.28 0.29 0.29 0.30 0.30 0.29 0.27 0.24 0.22 0.15 0.36 0.43 0.44 0.45 0.45 0.49
Applied Materials Inc. 0.77 0.71 0.76 0.77 0.79 0.84 0.89 0.97 0.96 0.89 0.79 0.75 0.73 0.71 0.78 0.74 0.72 0.73 0.72 0.63 0.73 0.69 0.71
Broadcom Inc. 0.29 0.28 0.28 0.33 0.32 0.31 0.30 0.42 0.40 0.36 0.35 0.32 0.34 0.33 0.31 0.26 0.22 0.17 0.65 0.64 0.66 0.58 0.49
Cisco Systems Inc. 0.52 0.55 0.57 0.56 0.53 0.53 0.50 0.48 0.45 0.43 0.37 0.37 0.37 0.39 0.38 0.39 0.40 0.42 0.44 0.44 0.43
Intel Corp. 0.54 0.52 0.51 0.53 0.53 0.54 0.55 0.55 0.54 0.53 0.50 0.51 0.49 0.51 0.52 0.52 0.52 0.52 0.53 0.54
Lam Research Corp. 0.69 0.74 0.80 0.77 0.80 0.81 1.01 1.00 0.89 0.75 0.74 0.71 0.66 0.61 0.55 0.47 0.48 0.58 0.61 0.59 0.56
Micron Technology Inc. 0.40 0.39 0.39 0.42 0.48 0.58 0.63 0.71 0.70 0.67 0.63 0.62 0.58 0.52 0.46 0.47 0.45 0.47 0.55 0.61 0.67
NVIDIA Corp. 0.63 0.63 0.69 0.77 0.88 0.91 0.92 0.96 0.86 0.91 0.89 0.80 0.70 0.64 0.73 0.73 0.68 0.68 0.68 0.65 0.65
Qualcomm Inc. 0.66 0.62 0.77 0.74 0.74 0.74 0.62 0.63 0.70 0.37 0.35 0.35 0.34 0.35 0.41 0.45 0.45 0.45 0.45 0.48 0.50
Texas Instruments Inc. 0.75 0.78 0.82 0.80 0.82 0.88 0.89 0.92 0.85 0.85 0.88 0.85 0.86 0.86 0.86 0.81 0.81 0.82 0.82 0.80

Based on: 10-K (filing date: 2020-10-30), 10-Q (filing date: 2020-07-31), 10-Q (filing date: 2020-05-01), 10-Q (filing date: 2020-01-29), 10-K (filing date: 2019-10-31), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-05-01), 10-Q (filing date: 2019-01-30), 10-K (filing date: 2018-11-05), 10-Q (filing date: 2018-08-01), 10-Q (filing date: 2018-05-02), 10-Q (filing date: 2018-02-02), 10-K (filing date: 2017-11-03), 10-Q (filing date: 2017-08-02), 10-Q (filing date: 2017-05-03), 10-Q (filing date: 2017-02-01), 10-K (filing date: 2016-10-26), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-27), 10-Q (filing date: 2016-01-27), 10-K (filing date: 2015-10-28), 10-Q (filing date: 2015-07-22), 10-Q (filing date: 2015-04-28), 10-Q (filing date: 2015-01-28).

1 Q4 2020 Calculation
Total asset turnover = (Net salesQ4 2020 + Net salesQ3 2020 + Net salesQ2 2020 + Net salesQ1 2020) ÷ Total assets
= (64,698 + 59,685 + 58,313 + 91,819) ÷ 323,888 = 0.85

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.’s total asset turnover ratio improved from Q2 2020 to Q3 2020 but then slightly deteriorated from Q3 2020 to Q4 2020 not reaching Q2 2020 level.

Equity Turnover

Apple Inc., equity turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 26, 2020 Jun 27, 2020 Mar 28, 2020 Dec 28, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019 Dec 29, 2018 Sep 29, 2018 Jun 30, 2018 Mar 31, 2018 Dec 30, 2017 Sep 30, 2017 Jul 1, 2017 Apr 1, 2017 Dec 31, 2016 Sep 24, 2016 Jun 25, 2016 Mar 26, 2016 Dec 26, 2015 Sep 26, 2015 Jun 27, 2015 Mar 28, 2015 Dec 27, 2014
Selected Financial Data (US$ in millions)
Net sales 64,698  59,685  58,313  91,819  64,040  53,809  58,015  84,310  62,900  53,265  61,137  88,293  52,579  45,408  52,896  78,351  46,852  42,358  50,557  75,872  51,501  49,605  58,010  74,599 
Shareholders’ equity 65,339  72,282  78,425  89,531  90,488  96,456  105,860  117,892  107,147  114,949  126,878  140,199  134,047  132,425  134,082  132,390  128,249  126,541  130,457  128,267  119,355  125,677  129,006  123,328 
Long-term Activity Ratio
Equity turnover1 4.20 3.79 3.42 2.99 2.88 2.69 2.44 2.22 2.48 2.22 1.95 1.71 1.71 1.69 1.64 1.65 1.68 1.74 1.74 1.83 1.96
Benchmarks
Equity Turnover, Competitors2
Advanced Micro Devices Inc. 2.24 2.31 2.39 2.38 2.77 3.09 3.41 5.11 5.81 7.42 8.38 8.72 9.53 11.08 10.82 10.27 10.71
Analog Devices Inc. 0.47 0.47 0.48 0.49 0.51 0.52 0.53 0.54 0.56 0.57 0.57 0.55 0.50 0.46 0.40 0.69 0.66 0.68 0.70 0.69 0.68
Applied Materials Inc. 1.70 1.71 1.73 1.78 1.83 1.92 2.05 2.52 2.52 2.34 1.82 1.55 1.59 1.58 1.54 1.50 1.45 1.46 1.33 1.27 1.20 1.12 1.14
Broadcom Inc. 0.98 0.96 0.93 0.91 1.04 0.98 0.92 0.78 0.74 0.61 0.73 0.87 0.85 0.84 0.82 0.70 0.56 0.45 1.36 1.45 1.54 1.50 1.43
Cisco Systems Inc. 1.30 1.42 1.45 1.51 1.55 1.39 1.25 1.15 1.14 1.04 0.93 0.73 0.73 0.74 0.76 0.77 0.77 0.79 0.81 0.83 0.82
Intel Corp. 1.05 0.96 0.99 0.93 0.95 0.94 0.96 0.95 0.97 0.95 0.91 0.91 0.88 0.90 0.90 0.90 0.92 0.92 0.92 0.91
Lam Research Corp. 1.94 2.12 2.18 1.92 2.07 1.97 1.88 2.05 1.70 1.51 1.56 1.22 1.18 1.07 1.00 0.96 1.00 1.02 1.06 1.07 1.03
Micron Technology Inc. 0.55 0.54 0.53 0.57 0.65 0.76 0.87 0.93 0.94 0.98 1.01 1.03 1.09 1.08 1.03 1.06 1.03 1.05 1.12 1.22 1.32
NVIDIA Corp. 0.89 0.89 0.99 1.11 1.25 1.31 1.35 1.42 1.30 1.41 1.40 1.23 1.20 1.15 1.21 1.23 1.12 1.09 1.14 1.04 1.06
Qualcomm Inc. 3.87 6.05 8.13 5.43 4.94 4.62 5.49 5.95 24.50 0.99 0.95 0.93 0.73 0.72 0.74 0.76 0.74 0.74 0.76 0.79 0.80
Texas Instruments Inc. 1.65 1.79 1.83 1.61 1.64 1.80 1.83 1.75 1.50 1.47 1.44 1.45 1.33 1.32 1.29 1.28 1.28 1.29 1.31 1.31

Based on: 10-K (filing date: 2020-10-30), 10-Q (filing date: 2020-07-31), 10-Q (filing date: 2020-05-01), 10-Q (filing date: 2020-01-29), 10-K (filing date: 2019-10-31), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-05-01), 10-Q (filing date: 2019-01-30), 10-K (filing date: 2018-11-05), 10-Q (filing date: 2018-08-01), 10-Q (filing date: 2018-05-02), 10-Q (filing date: 2018-02-02), 10-K (filing date: 2017-11-03), 10-Q (filing date: 2017-08-02), 10-Q (filing date: 2017-05-03), 10-Q (filing date: 2017-02-01), 10-K (filing date: 2016-10-26), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-27), 10-Q (filing date: 2016-01-27), 10-K (filing date: 2015-10-28), 10-Q (filing date: 2015-07-22), 10-Q (filing date: 2015-04-28), 10-Q (filing date: 2015-01-28).

1 Q4 2020 Calculation
Equity turnover = (Net salesQ4 2020 + Net salesQ3 2020 + Net salesQ2 2020 + Net salesQ1 2020) ÷ Shareholders’ equity
= (64,698 + 59,685 + 58,313 + 91,819) ÷ 65,339 = 4.20

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.’s equity turnover ratio improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.