Stock Analysis on Net
Stock Analysis on Net

Apple Inc. (NASDAQ:AAPL)

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Price to FCFE (P/FCFE)

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Free Cash Flow to Equity (FCFE)

Apple Inc., FCFE calculation

US$ in millions

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12 months ended: Sep 26, 2020 Sep 28, 2019 Sep 29, 2018 Sep 30, 2017 Sep 24, 2016 Sep 26, 2015
Net income
Net noncash charges
Changes in operating assets and liabilities
Cash generated by operating activities
Payments for acquisition of property, plant and equipment
Proceeds from issuance of term debt, net
Repayments of term debt
Proceeds from (repayments of) commercial paper, net
Free cash flow to equity (FCFE)

Based on: 10-K (filing date: 2020-10-30), 10-K (filing date: 2019-10-31), 10-K (filing date: 2018-11-05), 10-K (filing date: 2017-11-03), 10-K (filing date: 2016-10-26), 10-K (filing date: 2015-10-28).

Item Description The company
FCFE Free cash flow to equity is the cash flow available to Apple Inc.’s equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. Apple Inc.’s FCFE decreased from 2018 to 2019 but then increased from 2019 to 2020 exceeding 2018 level.

Price to FCFE Ratio, Current

Apple Inc., current P/FCFE calculation, comparison to benchmarks

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No. shares of common stock outstanding
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)
FCFE per share
Current share price (P)
Valuation Ratio
P/FCFE
Benchmarks
P/FCFE, Competitors1
Cisco Systems Inc.
P/FCFE, Sector
Technology Hardware & Equipment
P/FCFE, Industry
Information Technology

Based on: 10-K (filing date: 2020-10-30).

1 Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.


Price to FCFE Ratio, Historical

Apple Inc., historical P/FCFE calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Sep 26, 2020 Sep 28, 2019 Sep 29, 2018 Sep 30, 2017 Sep 24, 2016 Sep 26, 2015
No. shares of common stock outstanding1
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)2
FCFE per share3
Share price1, 4
Valuation Ratio
P/FCFE5
Benchmarks
P/FCFE, Competitors6
Cisco Systems Inc.
P/FCFE, Sector
Technology Hardware & Equipment
P/FCFE, Industry
Information Technology

Based on: 10-K (filing date: 2020-10-30), 10-K (filing date: 2019-10-31), 10-K (filing date: 2018-11-05), 10-K (filing date: 2017-11-03), 10-K (filing date: 2016-10-26), 10-K (filing date: 2015-10-28).

1 Data adjusted for splits and stock dividends.

2 See details »

3 2020 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= ÷ =

4 Closing price as at the filing date of Apple Inc.’s Annual Report.

5 2020 Calculation
P/FCFE = Share price ÷ FCFE per share
= ÷ =

6 Click competitor name to see calculations.

Valuation ratio Description The company
P/FCFE Price to free cash flow to equity is cash valuation indicator of stockholders’ equity. Apple Inc.’s P/FCFE ratio increased from 2018 to 2019 and from 2019 to 2020.