Company Valuation: Apple Inc.

Data adjusted to current consolidation scope
Fiscal Period: September 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 2,402,990 2,438,897 2,664,542 3,463,350 3,791,126 3,779,806 - -
Change - 1.49% 9.25% 29.98% 9.46% -0.3% - -
Enterprise Value (EV) 1 2,337,193 2,389,857 2,613,531 3,413,329 3,757,363 3,726,095 3,704,827 3,684,102
Change - 2.25% 9.36% 30.6% 10.08% -0.83% -0.57% -0.56%
P/E ratio 25.9x 24.8x 27.8x 37.5x 34.2x 30.3x 27.6x 25x
PBR 37.9x 47.8x 42.6x 60.5x 51.2x 41.9x 33.2x 22.3x
PEG - 2.78x 84.93x -45.98x 1.5x 2.2x 2.88x 2.3x
Capitalization / Revenue 6.57x 6.18x 6.95x 8.86x 9.11x 8.13x 7.64x 7.19x
EV / Revenue 6.39x 6.06x 6.82x 8.73x 9.03x 8.02x 7.49x 7x
EV / EBITDA 19.4x 18.3x 20.8x 25.3x 26x 22.9x 21.4x 19.6x
EV / EBIT 21.5x 20x 22.9x 27.7x 28.2x 24.8x 23x 21.2x
EV / FCF 25.1x 21.4x 26.2x 31.4x 38x 26.9x 24.9x 22.4x
FCF Yield 3.98% 4.66% 3.81% 3.19% 2.63% 3.71% 4.01% 4.46%
Dividend per Share 2 0.85 0.9 0.94 0.98 1.02 1.068 1.115 1.165
Rate of return 0.58% 0.59% 0.55% 0.43% 0.4% 0.41% 0.43% 0.45%
EPS 2 5.61 6.11 6.13 6.08 7.46 8.497 9.312 10.31
Distribution rate 15.2% 14.7% 15.3% 16.1% 13.7% 12.6% 12% 11.3%
Net sales 1 365,817 394,328 383,285 391,035 416,161 464,840 494,833 525,986
EBITDA 1 120,233 130,541 125,820 134,661 144,495 162,902 173,470 188,061
EBIT 1 108,949 119,437 114,301 123,216 133,050 150,501 161,055 173,760
Net income 1 94,680 99,803 96,995 93,736 112,010 124,737 134,121 145,226
Net Debt 1 -65,797 -49,040 -51,011 -50,021 -33,763 -53,711 -74,980 -95,704
Reference price 2 145.37 151.76 170.43 227.79 255.46 257.46 257.46 257.46
Nbr of stocks (in thousands) 16,530,166 16,070,752 15,634,232 15,204,137 14,840,390 14,681,140 - -
Announcement Date 28/10/21 27/10/22 2/11/23 31/10/24 30/10/25 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
30.3x8.01x22.87x0.41% 3,780B
18.47x1.44x13.35x-.--% 111B
26.85x0.87x16.21x2.28% 9.93B
20.08x1.11x8.45x0.07% 5.79B
Average 23.92x 2.86x 15.22x 0.69% 976.56B
Weighted average by Cap. 29.94x 7.80x 22.57x 0.41%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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