What are Apple's profit margins?

Apple (AAPL) runs a 47.9% gross margin and a 32.6% operating margin, with a 27.2% net margin.

Where do Apple's ratios come from?

Every ratio is computed from Apple's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Apple AAPL Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	TTM Q2 '26	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25	TTM Q2 '25
Profitability
Gross margin	188.8%+1.2pp	187.5%+0.8pp	186.7%+0.7pp	186%+0.7pp	185.3%+1.0pp
Operating margin	128.9%+0.8pp	128%+0.6pp	127.4%+0.5pp	126.9%+0.6pp	126.4%+0.8pp
Net margin	105.4%+2.9pp	102.5%+2.7pp	99.8%+2.9pp	96.9%-2.1pp	99%-2.0pp
Returns
Return on equity	614.7%+3.5pp	611.3%+15.5pp	595.8%+14.0pp	581.8%-10.8pp	592.5%-9.2pp
Return on invested capital	336.3%+17.8pp	318.5%+18.3pp	300.2%+15.2pp	285%+2.6pp	282.4%+0.9pp
Efficiency
Asset turnover	4.9×+0.1×	4.8×+0.1×	4.7×+0.1×	4.7×+0.1×	4.6×+0.1×
Liquidity
Current ratio	3.8×+0.2×	3.6×+0.1×	3.5×0.0×	3.5×-0.1×	3.6×-0.2×
Leverage
Debt-to-equity	4.6×-0.6×	5.2×-0.4×	5.6×-0.5×	6.1×-0.1×	6.2×0.0×
Net debt / EBITDA	1.4×-0.2×	1.6×-0.2×	1.8×-0.1×	1.9×-0.2×	2.1×-0.1×
Per Share
Book value per share	$22.50+14.2%	$19.71+8.5%	$18.16+7.2%	$16.94+0.3%	$16.89-2.1%
Valuation
Market capitalization	$14.51T+2.8%	$14.12T+1.7%	$13.89T+1.7%	$13.66T-1.7%	$13.89T+5.2%
Price / earnings	128.4×-3.9×	132.3×-5.3×	137.5×-4.1×	141.6×-1.5×	143.1×+7.9×
Price / sales	33.9×-0.1×	34×-0.3×	34.3×0.0×	34.3×-1.1×	35.3×+1.4×
Price / book	177.2×-15.0×	192.2×-11.2×	203.4×-11.0×	214.3×-3.0×	217.3×+14.3×
EV / EBITDA	98.2×-1.0×	99.1×-1.5×	100.6×-0.3×	100.9×-3.5×	104.5×+3.5×
Dividend yield	1.7%0.0pp	1.8%0.0pp	1.8%0.0pp	1.8%0.0pp	1.8%-0.1pp

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Questions, answered.

What are Apple's profit margins?: Apple (AAPL) runs a 47.9% gross margin and a 32.6% operating margin, with a 27.2% net margin.
Where do Apple's ratios come from?: Every ratio is computed from Apple's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.