Apple Inc. (NASDAQ:AAPL)

Price to Earnings (P/E) Ratio

The P/E ratio experienced a decline from 32.24 in 2020 to 24.82 in 2022, indicating a reduction in market valuation relative to earnings during this period. However, a recovery occurred subsequently, with the ratio increasing to 35.95 by 2024, and slightly decreasing to 35.67 in 2025. This suggests that investor sentiment improved, leading to higher valuations relative to earnings in the most recent years.

Price to Operating Profit (P/OP) Ratio

This ratio mirrored the trend of the P/E, dropping from 27.92 in 2020 down to 20.74 in 2022, reflecting a lower market price in relation to operating profit. There was a subsequent upward trend, reaching 30.03 by 2025, indicating increased willingness of investors to pay a premium on operating profits over time.

Price to Sales (P/S) Ratio

The P/S ratio remained relatively stable around the mid-6 range from 2020 to 2022, with a slight decline to 6.28 in 2022. From 2023 onward, it demonstrated a consistent upward trend, climbing sharply to 9.6 by 2025. This increase suggests that the market increasingly values the company’s sales revenue, possibly reflecting strong sales growth or improving profit margins.

Price to Book Value (P/BV) Ratio

The P/BV ratio showed notable growth from 28.33 in 2020 to 48.89 in 2022, indicating a rising market valuation relative to the book value of equity. Despite a moderate dip to 44.21 in 2023, the ratio surged again, peaking at 59.17 in 2024 before slightly decreasing to 54.18 in 2025. This pattern indicates a sustained premium being placed on the company’s net assets, reflecting investor confidence in future asset productivity or intangible asset value.

The analysis of the financial data over the six-year period reveals several important trends concerning share price, earnings per share (EPS), and the price-to-earnings (P/E) ratio.

Share Price

The share price exhibited a steady upward trajectory throughout the period. Starting from $108.86 in 2020, the share price increased consistently each year, reaching $270.37 by 2025. This reflects significant growth in market valuation, indicating positive investor sentiment or improved financial performance over time.

Earnings Per Share (EPS)

EPS rose markedly from $3.38 in 2020 to $7.58 in 2025. The increase was sharp between 2020 and 2021, followed by a consistent upward trend, with only a slight decline observed between 2022 and 2024 before rising again in the last recorded year. This pattern suggests expanding profitability and efficient earnings growth over the medium term.

Price-to-Earnings (P/E) Ratio

The P/E ratio demonstrated a fluctuating pattern rather than a clear continuous trend. It decreased from 32.24 in 2020 to a low of 24.82 in 2022, indicating the share price was relatively less expensive against earnings at that time. Subsequently, the P/E ratio climbed to a peak of 35.95 in 2024 before slightly declining to 35.67 in 2025. This recent increase suggests heightened market expectations for future growth or a potential premium valuation placed on the stock despite the moderate growth in earnings.

Overall, the financial data indicates robust earnings growth coupled with substantial appreciation in share price, while the fluctuating P/E ratio reflects changing market valuations and investor expectations over the period under consideration.

The analysis of the annual financial data reveals several key trends over the reported periods.

Share Price

The share price demonstrates a consistent and significant upward trajectory from 108.86 US$ in 2020 to 270.37 US$ in 2025. This reflects a strong market confidence and increasing valuation over the six-year span, with particularly notable growth observed between 2023 and 2025.

Operating Profit Per Share

Operating profit per share also shows a positive trend, increasing steadily from 3.9 US$ in 2020 to 9 US$ in 2025. This indicates an improvement in the company's operational profitability on a per-share basis, suggesting enhanced efficiency or revenue generation capability over time.

Price to Operating Profit Ratio (P/OP)

The P/OP ratio, which measures the price investors are willing to pay per unit of operating profit per share, exhibits a more complex pattern. It declined from 27.92 in 2020 to a low of 20.74 in 2022, indicating growing operating profits relative to share price during that timeframe. However, from 2023 onwards, the ratio reversed course, rising again to reach 30.03 by 2025. This increase suggests that share price appreciation is outpacing gains in operating profit per share, potentially reflecting heightened investor optimism or expectations of future growth beyond current operating performance.

In summary, the data indicates strong growth in both share price and operating profit per share, with operating profitability improving substantially. The fluctuating P/OP ratio suggests a shift in market valuation dynamics, with a recent trend towards higher valuation multiples despite steady profit growth.

The analysis of the financial metrics over the six-year period indicates several notable trends in valuation and performance metrics.

Share Price

The share price exhibited a consistent upward trajectory from US$108.86 in 2020 to US$270.37 in 2025. This represents a substantial increase exceeding 148%, reflecting growing market confidence and perceived company value over the period.

Sales per Share

Sales per share grew steadily from US$16.15 in 2020 to US$28.16 in 2025. The most pronounced increment occurred between 2020 and 2022, followed by moderate growth thereafter. This indicates strengthening revenue generation on a per-share basis, albeit with some deceleration in growth rate in the later years.

Price-to-Sales (P/S) Ratio

The P/S ratio showed some fluctuations but trended upwards overall, increasing from 6.74 in 2020 to 9.6 in 2025. After a slight decline in 2022, the ratio increased significantly in subsequent years, suggesting that the market valuation has grown faster than sales. This could be reflective of improved market sentiment, perceived growth prospects, or expectations of enhanced profitability.

In summary, the company experienced robust appreciation in market valuation and improved sales per share over the period analyzed. The increase in the P/S ratio indicates that investors are willing to pay a higher price relative to sales, which may point to positive expectations about future profitability or growth. However, the deceleration in sales per share growth from 2022 onwards suggests that while revenue growth remains positive, it is moderating compared to earlier years.

The analysis of the financial data over the six-year period reveals several key trends in the valuation and book value metrics.

Share Price

The share price exhibits a consistent upward trajectory from 108.86 US dollars in 2020 to 270.37 US dollars in 2025. The growth is steady each year, with a notable acceleration in the later years, particularly between 2023 and 2024, where the price increased from 176.65 to 222.91 US dollars. This indicates strong market confidence and possibly robust company performance or positive market sentiment over these years.

Book Value Per Share (BVPS)

Book value per share has shown some fluctuation across the years. It remained relatively stable around 3.8 US dollars in 2020 and 2021, but declined in 2022 to 3.19 US dollars. After this dip, BVPS increased again, reaching 4 US dollars in 2023, then slightly decreased to 3.77 US dollars in 2024, and finally rose substantially to 4.99 US dollars by 2025. This pattern suggests some variability in the company's net asset value but an overall positive growth trend towards the end of the period.

Price-to-Book Value Ratio (P/BV)

The P/BV ratio indicates the market valuation relative to book value and shows a significant increasing trend from 28.33 in 2020 to a peak of 59.17 in 2024, before slightly declining to 54.18 in 2025. This elevated ratio throughout the period suggests that the market consistently values the company at a multiple far exceeding its book value, which may reflect strong expectations for future earnings or intangible asset strength.

Overall, the data indicates strong share price growth alongside a fluctuating but upward-trending book value per share. The high and increasing P/BV ratio suggests that market valuation outpaces book value growth considerably, reflecting investor optimism or premium valuation levels for the company’s shares during the reported timeframe.