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

Simplified Detailed

	FY'25	FY'24	FY'23	FY'22
Profitability
Gross margin	46.9%+0.7pp	46.2%+2.1pp	44.1%+0.8pp	43.3%+1.5pp
Operating margin	32%+0.5pp	31.5%+1.7pp	29.8%-0.5pp	30.3%+0.5pp
Net margin	26.9%+2.9pp	24%-1.3pp	25.3%0.0pp	25.3%-0.6pp
EBITDA margin	34.8%+0.3pp	34.4%+1.6pp	32.8%-0.3pp	33.1%+0.2pp
Free cash flow margin	23.7%-4.1pp	27.8%+1.8pp	26%-2.3pp	28.3%+2.9pp
Returns
Return on equity	171.4%+14.0pp	157.4%-14.5pp	171.9%-3.5pp	175.5%+28.0pp
Return on assets	30.9%+4.8pp	26.1%-1.4pp	27.5%-0.9pp	28.4%+0.3pp
Return on invested capital	80.7%+15.2pp	65.5%0.0pp	65.5%+0.1pp	65.4%+2.6pp
Efficiency
Asset turnover	1.1×+0.1×	1.1×0.0×	1.1×0.0×	1.1×0.0×
Inventory turnover	34×+3.1×	30.9×-7.1×	38×-0.8×	38.8×-1.2×
Liquidity
Current ratio	0.9×0.0×	0.9×-0.1×	1×+0.1×	0.9×-0.2×
Quick ratio	0.9×0.0×	0.8×-0.1×	0.9×+0.1×	0.8×-0.2×
Cash ratio	0.2×0.0×	0.2×0.0×	0.2×0.0×	0.2×-0.1×
Leverage
Debt-to-equity	1.4×-0.5×	1.9×0.0×	1.9×-0.5×	2.4×+0.3×
Debt-to-assets	0.3×0.0×	0.3×0.0×	0.3×0.0×	0.3×0.0×
Net debt / EBITDA	0.5×-0.1×	0.6×-0.1×	0.7×-0.1×	0.7×0.0×
Per Share
Book value per share	$4.91+33.0%	$3.70-6.0%	$3.93+26.6%	$3.10-17.0%
Valuation
Market capitalization	$3.78T+6.7%	$3.54T+32.3%	$2.68T+20.5%	$2.22T-4.3%
Enterprise value	$3.85T+6.2%	$3.62T+31.0%	$2.76T+19.2%	$2.32T-4.0%
Price / earnings	33.7×-4.1×	37.8×+10.2×	27.6×+5.3×	22.3×-2.3×
Price / sales	9.1×0.0×	9.1×+2.1×	7×+1.4×	5.6×-0.7×
Price / book	51.2×-11.0×	62.2×+19.1×	43.1×-0.8×	43.8×+7.0×
EV / EBITDA	26.6×-0.3×	26.9×+4.9×	22×+4.2×	17.8×-2.3×
EV / sales	9.2×0.0×	9.3×+2.1×	7.2×+1.3×	5.9×-0.7×
Free cash flow yield	2.6%-0.5pp	3.1%-0.6pp	3.7%-1.3pp	5%+1.0pp
Earnings yield	3%+0.3pp	2.6%-1.0pp	3.6%-0.9pp	4.5%+0.4pp
Dividend yield	0.4%0.0pp	0.4%-0.1pp	0.6%-0.1pp	0.7%0.0pp
PEG ratio	1.7×—	——	——	4.1×+3.7×

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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.