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Apple AAPL Return on invested capital

Return on invested capital at other companies

HP logo
HPHPQ
34.6%-0.1pp
Microsoft logo
MicrosoftMSFT
26.7%-1.2pp
Qualcomm logo
QualcommQCOM
26.8%-8.0pp
Amazon logo
AmazonAMZN
14%-3.8pp
Netflix logo
NetflixNFLX
33.2%+3.2pp
Zoom Video Communications, Inc. logo
Zoom Video Communications, Inc.ZM
11.1%+1.7pp

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
Operating margin32.6%+0.8pp
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 return on invested capital?
Apple (AAPL) reported return on invested capital of 89.1% in Q1 2026.
How has Apple's return on invested capital changed year-over-year?
Apple's return on invested capital increased by 25.0% year-over-year, from 71.3% to 89.1%.
What is the long-term trend for Apple's return on invested capital?
Over 4 years (2021 to 2025), Apple's return on invested capital has grown at a 8.4% compound annual growth rate (CAGR), from 217.2% to 300.2%.
What does return on invested capital mean?
The after-tax return the business earns on all the capital — debt and equity — invested in it.
How do you interpret return on invested capital?
The cleanest measure of business quality: ROIC sustained above the cost of capital creates value, below it destroys value. Compare against WACC, not against zero.
How does return on invested capital compare across companies?
Highly comparable across companies as a quality screen. Sector-sensitive definitions of invested capital mean banks/insurers are best excluded.