Stock Analysis on Net

Apple Inc. (NASDAQ:AAPL)

Analysis of Profitability Ratios
Quarterly Data

Microsoft Excel

Profitability Ratios (Summary)

Apple Inc., profitability ratios (quarterly data)

Microsoft Excel
Dec 30, 2023 Sep 30, 2023 Jul 1, 2023 Apr 1, 2023 Dec 31, 2022 Sep 24, 2022 Jun 25, 2022 Mar 26, 2022 Dec 25, 2021 Sep 25, 2021 Jun 26, 2021 Mar 27, 2021 Dec 26, 2020 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
Return on Sales
Gross profit margin 45.03% 44.13% 43.45% 43.18% 43.06% 43.31% 43.31% 43.32% 43.02% 41.78% 41.01% 39.88% 38.78% 38.23% 38.19% 38.11% 37.95% 37.82% 37.90% 38.05% 38.21% 38.34%
Operating profit margin 30.76% 29.82% 29.23% 29.16% 29.41% 30.29% 30.53% 30.93% 30.90% 29.78% 28.79% 27.32% 25.24% 24.15% 24.52% 24.48% 24.71% 24.57% 24.87% 25.34% 25.98% 26.69%
Net profit margin 26.16% 25.31% 24.68% 24.49% 24.56% 25.31% 25.71% 26.41% 26.58% 25.88% 25.00% 23.45% 21.73% 20.91% 21.33% 21.35% 21.49% 21.24% 21.50% 22.12% 22.72% 22.41%
Return on Investment
Return on equity (ROE) 136.18% 156.08% 157.22% 151.74% 167.77% 196.96% 171.46% 151.24% 139.79% 150.07% 135.04% 110.31% 96.54% 87.87% 80.83% 72.96% 64.25% 61.06% 57.74% 54.01% 50.41% 55.56%
Return on assets (ROA) 28.55% 27.51% 28.28% 28.40% 27.45% 28.29% 29.63% 29.07% 26.38% 26.97% 26.32% 22.63% 18.06% 17.73% 18.41% 17.86% 16.89% 16.32% 17.28% 16.72% 15.90% 16.28%

Based on: 10-Q (reporting date: 2023-12-30), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-24), 10-Q (reporting date: 2022-06-25), 10-Q (reporting date: 2022-03-26), 10-Q (reporting date: 2021-12-25), 10-K (reporting date: 2021-09-25), 10-Q (reporting date: 2021-06-26), 10-Q (reporting date: 2021-03-27), 10-Q (reporting date: 2020-12-26), 10-K (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-Q (reporting date: 2019-12-28), 10-K (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30), 10-Q (reporting date: 2018-12-29), 10-K (reporting date: 2018-09-29), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-30).

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Apple Inc. gross profit margin ratio improved from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Apple Inc. operating profit margin ratio improved from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Apple Inc. net profit margin ratio improved from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Apple Inc. ROE deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.
ROA A profitability ratio calculated as net income divided by total assets. Apple Inc. ROA deteriorated from Q3 2023 to Q4 2023 but then improved from Q4 2023 to Q1 2024 exceeding Q3 2023 level.

Gross Profit Margin

Apple Inc., gross profit margin calculation (quarterly data)

Microsoft Excel
Dec 30, 2023 Sep 30, 2023 Jul 1, 2023 Apr 1, 2023 Dec 31, 2022 Sep 24, 2022 Jun 25, 2022 Mar 26, 2022 Dec 25, 2021 Sep 25, 2021 Jun 26, 2021 Mar 27, 2021 Dec 26, 2020 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
Selected Financial Data (US$ in millions)
Gross margin 54,855 40,427 36,413 41,976 50,332 38,095 35,885 42,559 54,243 35,174 35,255 38,079 44,328 24,689 22,680 22,370 35,217 24,313 20,227 21,821 32,031 24,084 20,421 23,422 33,912
Net sales 119,575 89,498 81,797 94,836 117,154 90,146 82,959 97,278 123,945 83,360 81,434 89,584 111,439 64,698 59,685 58,313 91,819 64,040 53,809 58,015 84,310 62,900 53,265 61,137 88,293
Profitability Ratio
Gross profit margin1 45.03% 44.13% 43.45% 43.18% 43.06% 43.31% 43.31% 43.32% 43.02% 41.78% 41.01% 39.88% 38.78% 38.23% 38.19% 38.11% 37.95% 37.82% 37.90% 38.05% 38.21% 38.34%
Benchmarks
Gross Profit Margin, Competitors2
Arista Networks Inc. 61.95% 60.76% 60.18% 60.27% 61.07% 61.82% 62.77% 63.64% 63.80% 63.95% 63.87% 63.72% 63.94% 64.08% 64.12% 64.24% 64.06%
Cisco Systems Inc. 63.69% 62.73% 61.99% 61.92% 62.23% 62.55% 63.14% 63.30% 63.73% 64.02% 63.94% 64.17% 64.07% 64.26% 64.41% 63.97% 63.44% 62.94% 62.38% 62.17% 62.32% 62.04%
Super Micro Computer Inc. 17.44% 18.01% 18.23% 17.80% 16.78% 15.40% 14.22% 13.68% 14.18% 15.03% 15.14% 16.03% 15.91% 15.76% 16.22% 15.72% 15.12% 14.16%

Based on: 10-Q (reporting date: 2023-12-30), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-24), 10-Q (reporting date: 2022-06-25), 10-Q (reporting date: 2022-03-26), 10-Q (reporting date: 2021-12-25), 10-K (reporting date: 2021-09-25), 10-Q (reporting date: 2021-06-26), 10-Q (reporting date: 2021-03-27), 10-Q (reporting date: 2020-12-26), 10-K (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-Q (reporting date: 2019-12-28), 10-K (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30), 10-Q (reporting date: 2018-12-29), 10-K (reporting date: 2018-09-29), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-30).

1 Q1 2024 Calculation
Gross profit margin = 100 × (Gross marginQ1 2024 + Gross marginQ4 2023 + Gross marginQ3 2023 + Gross marginQ2 2023) ÷ (Net salesQ1 2024 + Net salesQ4 2023 + Net salesQ3 2023 + Net salesQ2 2023)
= 100 × (54,855 + 40,427 + 36,413 + 41,976) ÷ (119,575 + 89,498 + 81,797 + 94,836) = 45.03%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Apple Inc. gross profit margin ratio improved from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.

Operating Profit Margin

Apple Inc., operating profit margin calculation (quarterly data)

Microsoft Excel
Dec 30, 2023 Sep 30, 2023 Jul 1, 2023 Apr 1, 2023 Dec 31, 2022 Sep 24, 2022 Jun 25, 2022 Mar 26, 2022 Dec 25, 2021 Sep 25, 2021 Jun 26, 2021 Mar 27, 2021 Dec 26, 2020 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
Selected Financial Data (US$ in millions)
Operating income 40,373 26,969 22,998 28,318 36,016 24,894 23,076 29,979 41,488 23,786 24,126 27,503 33,534 14,775 13,091 12,853 25,569 15,625 11,544 13,415 23,346 16,118 12,612 15,894 26,274
Net sales 119,575 89,498 81,797 94,836 117,154 90,146 82,959 97,278 123,945 83,360 81,434 89,584 111,439 64,698 59,685 58,313 91,819 64,040 53,809 58,015 84,310 62,900 53,265 61,137 88,293
Profitability Ratio
Operating profit margin1 30.76% 29.82% 29.23% 29.16% 29.41% 30.29% 30.53% 30.93% 30.90% 29.78% 28.79% 27.32% 25.24% 24.15% 24.52% 24.48% 24.71% 24.57% 24.87% 25.34% 25.98% 26.69%
Benchmarks
Operating Profit Margin, Competitors2
Arista Networks Inc. 38.52% 37.29% 36.12% 35.71% 34.86% 33.69% 32.55% 31.56% 31.37% 30.79% 30.76% 30.72% 30.19% 30.66% 31.77% 32.55% 33.42%
Cisco Systems Inc. 27.17% 26.37% 25.89% 26.10% 26.91% 27.09% 27.36% 27.09% 26.98% 25.76% 25.60% 25.93% 26.23% 27.63% 27.81% 27.47% 26.91% 27.39% 27.04% 26.55% 26.57% 24.95%
Super Micro Computer Inc. 9.65% 10.68% 10.64% 10.39% 8.75% 6.45% 4.52% 3.27% 3.20% 3.48% 2.79% 2.85% 2.52% 2.57% 3.23% 3.17% 3.05% 2.78%

Based on: 10-Q (reporting date: 2023-12-30), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-24), 10-Q (reporting date: 2022-06-25), 10-Q (reporting date: 2022-03-26), 10-Q (reporting date: 2021-12-25), 10-K (reporting date: 2021-09-25), 10-Q (reporting date: 2021-06-26), 10-Q (reporting date: 2021-03-27), 10-Q (reporting date: 2020-12-26), 10-K (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-Q (reporting date: 2019-12-28), 10-K (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30), 10-Q (reporting date: 2018-12-29), 10-K (reporting date: 2018-09-29), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-30).

1 Q1 2024 Calculation
Operating profit margin = 100 × (Operating incomeQ1 2024 + Operating incomeQ4 2023 + Operating incomeQ3 2023 + Operating incomeQ2 2023) ÷ (Net salesQ1 2024 + Net salesQ4 2023 + Net salesQ3 2023 + Net salesQ2 2023)
= 100 × (40,373 + 26,969 + 22,998 + 28,318) ÷ (119,575 + 89,498 + 81,797 + 94,836) = 30.76%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Apple Inc. operating profit margin ratio improved from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.

Net Profit Margin

Apple Inc., net profit margin calculation (quarterly data)

Microsoft Excel
Dec 30, 2023 Sep 30, 2023 Jul 1, 2023 Apr 1, 2023 Dec 31, 2022 Sep 24, 2022 Jun 25, 2022 Mar 26, 2022 Dec 25, 2021 Sep 25, 2021 Jun 26, 2021 Mar 27, 2021 Dec 26, 2020 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
Selected Financial Data (US$ in millions)
Net income 33,916 22,956 19,881 24,160 29,998 20,721 19,442 25,010 34,630 20,551 21,744 23,630 28,755 12,673 11,253 11,249 22,236 13,686 10,044 11,561 19,965 14,125 11,519 13,822 20,065
Net sales 119,575 89,498 81,797 94,836 117,154 90,146 82,959 97,278 123,945 83,360 81,434 89,584 111,439 64,698 59,685 58,313 91,819 64,040 53,809 58,015 84,310 62,900 53,265 61,137 88,293
Profitability Ratio
Net profit margin1 26.16% 25.31% 24.68% 24.49% 24.56% 25.31% 25.71% 26.41% 26.58% 25.88% 25.00% 23.45% 21.73% 20.91% 21.33% 21.35% 21.49% 21.24% 21.50% 22.12% 22.72% 22.41%
Benchmarks
Net Profit Margin, Competitors2
Arista Networks Inc. 35.62% 33.97% 32.48% 31.24% 30.87% 29.63% 29.55% 29.54% 28.52% 28.30% 27.72% 27.48% 27.38% 32.06% 33.16% 34.10% 35.67%
Cisco Systems Inc. 23.40% 22.13% 20.89% 21.26% 22.00% 22.91% 23.28% 22.94% 22.44% 21.26% 20.92% 21.09% 21.76% 22.75% 21.32% 21.44% 21.15% 22.39% 25.76% 25.31% 2.52% 0.22%
Super Micro Computer Inc. 8.29% 8.98% 8.93% 8.70% 7.38% 5.49% 3.96% 3.00% 2.89% 3.14% 2.69% 2.71% 2.56% 2.52% 2.72% 2.58% 2.37% 2.05%

Based on: 10-Q (reporting date: 2023-12-30), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-24), 10-Q (reporting date: 2022-06-25), 10-Q (reporting date: 2022-03-26), 10-Q (reporting date: 2021-12-25), 10-K (reporting date: 2021-09-25), 10-Q (reporting date: 2021-06-26), 10-Q (reporting date: 2021-03-27), 10-Q (reporting date: 2020-12-26), 10-K (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-Q (reporting date: 2019-12-28), 10-K (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30), 10-Q (reporting date: 2018-12-29), 10-K (reporting date: 2018-09-29), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-30).

1 Q1 2024 Calculation
Net profit margin = 100 × (Net incomeQ1 2024 + Net incomeQ4 2023 + Net incomeQ3 2023 + Net incomeQ2 2023) ÷ (Net salesQ1 2024 + Net salesQ4 2023 + Net salesQ3 2023 + Net salesQ2 2023)
= 100 × (33,916 + 22,956 + 19,881 + 24,160) ÷ (119,575 + 89,498 + 81,797 + 94,836) = 26.16%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Apple Inc. net profit margin ratio improved from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.

Return on Equity (ROE)

Apple Inc., ROE calculation (quarterly data)

Microsoft Excel
Dec 30, 2023 Sep 30, 2023 Jul 1, 2023 Apr 1, 2023 Dec 31, 2022 Sep 24, 2022 Jun 25, 2022 Mar 26, 2022 Dec 25, 2021 Sep 25, 2021 Jun 26, 2021 Mar 27, 2021 Dec 26, 2020 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
Selected Financial Data (US$ in millions)
Net income 33,916 22,956 19,881 24,160 29,998 20,721 19,442 25,010 34,630 20,551 21,744 23,630 28,755 12,673 11,253 11,249 22,236 13,686 10,044 11,561 19,965 14,125 11,519 13,822 20,065
Shareholders’ equity 74,100 62,146 60,274 62,158 56,727 50,672 58,107 67,399 71,932 63,090 64,280 69,178 66,224 65,339 72,282 78,425 89,531 90,488 96,456 105,860 117,892 107,147 114,949 126,878 140,199
Profitability Ratio
ROE1 136.18% 156.08% 157.22% 151.74% 167.77% 196.96% 171.46% 151.24% 139.79% 150.07% 135.04% 110.31% 96.54% 87.87% 80.83% 72.96% 64.25% 61.06% 57.74% 54.01% 50.41% 55.56%
Benchmarks
ROE, Competitors2
Arista Networks Inc. 28.91% 29.22% 29.18% 28.46% 27.68% 26.56% 25.84% 22.46% 21.13% 20.30% 19.70% 19.60% 19.11% 23.10% 24.79% 27.99% 29.71%
Cisco Systems Inc. 30.04% 28.44% 27.12% 27.25% 28.56% 29.70% 29.72% 29.94% 26.69% 25.66% 25.41% 25.89% 27.42% 29.57% 30.20% 31.11% 31.95% 34.62% 35.91% 31.54% 2.88% 0.25%
Super Micro Computer Inc. 28.29% 32.45% 33.21% 31.80% 27.33% 20.00% 14.41% 10.53% 9.77% 10.20% 8.65% 8.32% 7.88% 7.91% 8.63% 8.43% 8.12% 7.64%

Based on: 10-Q (reporting date: 2023-12-30), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-24), 10-Q (reporting date: 2022-06-25), 10-Q (reporting date: 2022-03-26), 10-Q (reporting date: 2021-12-25), 10-K (reporting date: 2021-09-25), 10-Q (reporting date: 2021-06-26), 10-Q (reporting date: 2021-03-27), 10-Q (reporting date: 2020-12-26), 10-K (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-Q (reporting date: 2019-12-28), 10-K (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30), 10-Q (reporting date: 2018-12-29), 10-K (reporting date: 2018-09-29), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-30).

1 Q1 2024 Calculation
ROE = 100 × (Net incomeQ1 2024 + Net incomeQ4 2023 + Net incomeQ3 2023 + Net incomeQ2 2023) ÷ Shareholders’ equity
= 100 × (33,916 + 22,956 + 19,881 + 24,160) ÷ 74,100 = 136.18%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Apple Inc. ROE deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.

Return on Assets (ROA)

Apple Inc., ROA calculation (quarterly data)

Microsoft Excel
Dec 30, 2023 Sep 30, 2023 Jul 1, 2023 Apr 1, 2023 Dec 31, 2022 Sep 24, 2022 Jun 25, 2022 Mar 26, 2022 Dec 25, 2021 Sep 25, 2021 Jun 26, 2021 Mar 27, 2021 Dec 26, 2020 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
Selected Financial Data (US$ in millions)
Net income 33,916 22,956 19,881 24,160 29,998 20,721 19,442 25,010 34,630 20,551 21,744 23,630 28,755 12,673 11,253 11,249 22,236 13,686 10,044 11,561 19,965 14,125 11,519 13,822 20,065
Total assets 353,514 352,583 335,038 332,160 346,747 352,755 336,309 350,662 381,191 351,002 329,840 337,158 354,054 323,888 317,344 320,400 340,618 338,516 322,239 341,998 373,719 365,725 349,197 367,502 406,794
Profitability Ratio
ROA1 28.55% 27.51% 28.28% 28.40% 27.45% 28.29% 29.63% 29.07% 26.38% 26.97% 26.32% 22.63% 18.06% 17.73% 18.41% 17.86% 16.89% 16.32% 17.28% 16.72% 15.90% 16.28%
Benchmarks
ROA, Competitors2
Arista Networks Inc. 20.98% 20.96% 20.88% 20.11% 19.96% 18.90% 17.77% 15.27% 14.66% 14.43% 13.99% 13.82% 13.39% 16.19% 17.36% 19.39% 20.54%
Cisco Systems Inc. 13.75% 12.38% 11.76% 11.79% 12.36% 12.57% 12.94% 12.54% 11.87% 10.86% 10.88% 10.60% 11.01% 11.82% 11.80% 12.22% 11.89% 11.88% 13.59% 12.56% 1.20% 0.10%
Super Micro Computer Inc. 14.96% 17.42% 18.39% 18.81% 13.45% 8.90% 5.98% 4.67% 4.56% 4.99% 4.56% 4.67% 4.65% 4.39% 4.57% 4.67% 4.64% 4.27%

Based on: 10-Q (reporting date: 2023-12-30), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-24), 10-Q (reporting date: 2022-06-25), 10-Q (reporting date: 2022-03-26), 10-Q (reporting date: 2021-12-25), 10-K (reporting date: 2021-09-25), 10-Q (reporting date: 2021-06-26), 10-Q (reporting date: 2021-03-27), 10-Q (reporting date: 2020-12-26), 10-K (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-Q (reporting date: 2019-12-28), 10-K (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30), 10-Q (reporting date: 2018-12-29), 10-K (reporting date: 2018-09-29), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-30).

1 Q1 2024 Calculation
ROA = 100 × (Net incomeQ1 2024 + Net incomeQ4 2023 + Net incomeQ3 2023 + Net incomeQ2 2023) ÷ Total assets
= 100 × (33,916 + 22,956 + 19,881 + 24,160) ÷ 353,514 = 28.55%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROA A profitability ratio calculated as net income divided by total assets. Apple Inc. ROA deteriorated from Q3 2023 to Q4 2023 but then improved from Q4 2023 to Q1 2024 exceeding Q3 2023 level.