Company Valuation: Apple Inc.

Data adjusted to current consolidation scope
Fiscal Period: September 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,402,990 2,438,897 2,664,542 3,463,350 3,791,126 4,498,802 - -
Change - 1.49% 9.25% 29.98% 9.46% 18.67% - -
Enterprise Value (EV) 1 2,337,193 2,389,857 2,613,531 3,413,329 3,757,363 4,431,200 4,392,289 4,359,817
Change - 2.25% 9.36% 30.6% 10.08% 17.93% -0.88% -0.74%
P/E 25.9x 24.8x 27.8x 37.5x 34.2x 35x 32.3x 28.8x
PBR 37.9x 47.8x 42.6x 60.5x 51.2x 44.7x 31.9x 20.4x
PEG - 2.78x 84.93x -45.98x 1.5x 1.9x 3.85x 2.3x
Capitalization / Revenue 6.57x 6.18x 6.95x 8.86x 9.11x 9.42x 8.6x 7.97x
EV / Revenue 6.39x 6.06x 6.82x 8.73x 9.03x 9.28x 8.39x 7.73x
EV / EBITDA 19.4x 18.3x 20.8x 25.3x 26x 26.2x 24.6x 22.2x
EV / EBIT 21.5x 20x 22.9x 27.7x 28.2x 28.4x 26.6x 23.7x
EV / FCF 25.1x 21.4x 26.2x 31.4x 38x 30.7x 29x 26x
FCF Yield 3.98% 4.66% 3.81% 3.19% 2.63% 3.26% 3.45% 3.84%
Dividend per Share 2 0.85 0.9 0.94 0.98 1.02 1.07 1.114 1.162
Rate of return 0.58% 0.59% 0.55% 0.43% 0.4% 0.35% 0.36% 0.38%
EPS 2 5.61 6.11 6.13 6.08 7.46 8.8 9.537 10.72
Distribution rate 15.2% 14.7% 15.3% 16.1% 13.7% 12.2% 11.7% 10.8%
Net sales 1 365,817 394,328 383,285 391,035 416,161 477,373 523,312 564,372
EBITDA 1 120,233 130,541 125,820 134,661 144,495 168,902 178,529 196,334
EBIT 1 108,949 119,437 114,301 123,216 133,050 155,762 164,976 183,855
Net income 1 94,680 99,803 96,995 93,736 112,010 129,585 137,762 153,099
Net Debt 1 -65,797 -49,040 -51,011 -50,021 -33,763 -67,602 -106,513 -138,985
Reference price 2 145.37 151.76 170.43 227.79 255.46 308.26 308.26 308.26
Nbr of stocks (in thousands) 16,530,166 16,070,752 15,634,232 15,204,137 14,840,390 14,594,180 - -
Announcement Date 10/28/21 A 10/27/22 A 11/2/23 A 10/31/24 A 10/30/25 A - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
35.03x9.28x26.24x0.35% 4,499B
25.65x1.05x13.39x-.--% 90.6B
20.54x0.78x14.49x2.56% 9.91B
6.99x1.34x2.43x0.98% 2.99B
Average 22.05x 3.11x 14.14x 0.97% 1,151B
Weighted average by Cap. 34.80x 9.10x 25.94x 0.35%

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