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%+3.5pp	187.5%+3.3pp	186.7%+4.0pp	186%+5.3pp	185.3%+7.1pp
Operating margin	128.9%+2.5pp	128%+2.5pp	127.4%+2.9pp	126.9%+4.1pp	126.4%+5.6pp
Net margin	105.4%+6.4pp	102.5%+1.5pp	99.8%-3.1pp	96.9%-7.4pp	99%-3.4pp
Returns
Return on equity	614.7%+22.2pp	611.3%+9.5pp	595.8%-23.7pp	581.8%-52.3pp	592.5%-41.0pp
Return on invested capital	336.3%+53.9pp	318.5%+37.0pp	300.2%+18.4pp	285%+3.2pp	282.4%+5.1pp
Efficiency
Asset turnover	4.9×+0.3×	4.8×+0.3×	4.7×+0.2×	4.7×+0.2×	4.6×+0.1×
Liquidity
Current ratio	3.8×+0.2×	3.6×-0.2×	3.5×-0.4×	3.5×-0.6×	3.6×-0.5×
Leverage
Debt-to-equity	4.6×-1.6×	5.2×-1.0×	5.6×-0.6×	6.1×-0.1×	6.2×-0.3×
Net debt / EBITDA	1.4×-0.7×	1.6×-0.5×	1.8×-0.4×	1.9×-0.3×	2.1×-0.3×
Per Share
Book value per share	$22.50+33.3%	$19.71+14.3%	$18.16+3.2%	$16.94-5.0%	$16.89-2.4%
Valuation
Market capitalization	$14.51T+4.5%	$14.12T+7.0%	$13.89T+11.9%	$13.66T+18.2%	$13.89T+22.2%
Price / earnings	128.4×-14.8×	132.3×-2.9×	137.5×+12.0×	141.6×+26.3×	143.1×+27.3×
Price / sales	33.9×-1.5×	34×0.0×	34.3×+2.2×	34.3×+4.2×	35.3×+5.7×
Price / book	177.2×-40.0×	192.2×-10.8×	203.4×+16.6×	214.3×+46.7×	217.3×+47.5×
EV / EBITDA	98.2×-6.3×	99.1×-1.8×	100.6×+4.2×	100.9×+9.4×	104.5×+12.8×
Dividend yield	1.7%0.0pp	1.8%-0.1pp	1.8%-0.2pp	1.8%-0.3pp	1.8%-0.4pp

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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.