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Apple AAPL Operating margin

Operating margin at other companies

HP logo
HPHPQ
5.3%-1.0pp
Microsoft logo
MicrosoftMSFT
46.8%+1.6pp
Qualcomm logo
QualcommQCOM
25.5%-1.6pp
Amazon logo
AmazonAMZN
11.5%+0.5pp
Netflix logo
NetflixNFLX
29.7%+2.0pp
Zoom Video Communications, Inc. logo
Zoom Video Communications, Inc.ZM
24.2%+6.0pp

Other financials

Income statement

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Revenue$111.18B+16.6%
Gross profit$54.8B+22.1%
Operating income$35.9B+21.3%
Net income$29.6B+19.4%
EPS (diluted)$2.01+21.8%

Balance sheet

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Cash & equivalents$45.6B+61.8%
Total debt$82.7B-10.3%
Total equity$106.49B+59.4%
Total assets$371.08B+12.0%

Cash flow

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Operating cash flow$28.7B+19.8%
CapEx$2.0B-35.8%
Free cash flow$26.7B+28.0%

Valuation

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Market cap$4.35T+11.7%
Enterprise value$4.38T+10.6%
P/E35.5×-4.5×
P/S9.6×-0.1×

Profitability

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Gross margin47.9%+1.2pp
Net margin27.2%+2.9pp

Returns & leverage

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Return on equity141.5%+3.5pp
Debt / equity0.8×-0.6×
Current ratio1.1×+0.2×

Where this comes from

Calculated from Apple’s reported figures.

Based on trailing twelve months.

The official record: Apple’s 10-Q, filed May 1, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Apple's operating margin?
Apple (AAPL) reported operating margin of 32.6% in Q1 2026.
How has Apple's operating margin changed year-over-year?
Apple's operating margin increased by 2.6% year-over-year, from 31.8% to 32.6%.
What is the long-term trend for Apple's operating margin?
Over 4 years (2021 to 2025), Apple's operating margin has grown at a 3.5% compound annual growth rate (CAGR), from 111.1% to 127.4%.
What does operating margin mean?
The profit left from core operations for every dollar of sales, before interest and taxes.
How do you interpret operating margin?
Expanding operating margin shows operating leverage — revenue growing faster than the cost base. Compression points to rising overhead, pricing pressure, or investment ahead of revenue.
How does operating margin compare across companies?
Strong cross-company signal within a sector. Capital-light businesses sustain higher operating margins than capital-intensive ones.