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 5,074,761 - -
Change - 1.49% 9.25% 29.98% 9.46% 33.86% - -
Enterprise Value (EV) 1 2,337,193 2,389,857 2,613,531 3,413,329 3,757,363 5,008,758 4,971,427 4,938,785
Change - 2.25% 9.36% 30.6% 10.08% 33.31% -0.75% -0.66%
P/E 25.9x 24.8x 27.8x 37.5x 34.2x 39.4x 36.4x 32.2x
PBR 37.9x 47.8x 42.6x 60.5x 51.2x 50.1x 36.9x 24.3x
PEG - 2.78x 84.93x -45.98x 1.5x 2.2x 4.32x 2.5x
Capitalization / Revenue 6.57x 6.18x 6.95x 8.86x 9.11x 10.6x 9.62x 8.87x
EV / Revenue 6.39x 6.06x 6.82x 8.73x 9.03x 10.5x 9.43x 8.63x
EV / EBITDA 19.4x 18.3x 20.8x 25.3x 26x 29.6x 27.6x 24.8x
EV / EBIT 21.5x 20x 22.9x 27.7x 28.2x 32x 29.8x 26.5x
EV / FCF 25.1x 21.4x 26.2x 31.4x 38x 34.9x 32.6x 29.1x
FCF Yield 3.98% 4.66% 3.81% 3.19% 2.63% 2.86% 3.07% 3.43%
Dividend per Share 2 0.85 0.9 0.94 0.98 1.02 1.069 1.114 1.169
Rate of return 0.58% 0.59% 0.55% 0.43% 0.4% 0.31% 0.32% 0.34%
EPS 2 5.61 6.11 6.13 6.08 7.46 8.82 9.563 10.81
Distribution rate 15.2% 14.7% 15.3% 16.1% 13.7% 12.1% 11.7% 10.8%
Net sales 1 365,817 394,328 383,285 391,035 416,161 477,621 527,258 572,157
EBITDA 1 120,233 130,541 125,820 134,661 144,495 169,461 179,915 198,922
EBIT 1 108,949 119,437 114,301 123,216 133,050 156,398 166,619 186,347
Net income 1 94,680 99,803 96,995 93,736 112,010 129,945 138,809 154,591
Net Debt 1 -65,797 -49,040 -51,011 -50,021 -33,763 -66,003 -103,335 -135,976
Reference price 2 145.37 151.76 170.43 227.79 255.46 347.72 347.72 347.72
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.($)
39.43x10.49x29.56x0.31% 5,075B
4.53x1.54x2.57x5.71% 1,040B
23.35x1.05x12.62x-.--% 87.95B
20.62x0.84x12.92x2.21% 10.59B
4.91x0.44x1.34x1.39% 2.18B
-19.57x358.98x-26.73x - 1.7B
Average 12.21x 62.22x 5.38x 1.92% 1,036B
Weighted average by Cap. 33.30x 8.93x 24.75x 1.21%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Apple Inc.

Historical PBR trend

Valuation ratios - PBR - Apple Inc.

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Apple Inc.

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Apple Inc.


Year-on-year evolution of the Yield

Valuation ratios - Yield - Apple Inc.