Apple Inc

AAPL $188.58 0.4  0.2%
25/05/18

Momentum
Relative Strength (%)
1m +12.4%
3m +9.3%
1yr +8.3%
Volume Change (%)
10d v 3m -46.3%
Price vs... (%)
52w High -0.9%
50d MA +7.21%
200d MA +11.5%
vs.
market
vs.
industry
Growth & Value
12m Forecast Rolling
PE Ratio (f) 14.9
PEG Ratio (f) 0.96
EPS Growth (f) 18.3 %
Dividend Yield (f) 1.55 %
Valuation (ttm)
Price to Book Value 7.31
Price to Tang. Book 7.31
Price to Free Cashflow 16.9
Price to Sales 3.75
EV to EBITDA 12.6
Margin of Safety (beta)
Screens Passed 1
vs.
market
vs.
industry
Quality
Return on Capital 23.7 %
Return on Equity 43.1 %
Operating Margin 26.7 %
Balance Sheet · Income Statement · Cashflow Financial Summary
Year End 30th Sep 2012 2013 2014 2015 2016 2017 TTM 2018E 2019E CAGR / Avg
Revenue $m 156,508 170,910 182,795 233,715 215,639 229,234 247,417 260,816 271,957 +7.9%
Operating Profit $m 55,241 48,999 52,503 71,230 60,024 61,344 66,056 +2.1%
Net Profit $m 41,733 37,037 39,510 53,394 45,687 48,351 53,318 57,748 62,147 +3.0%
EPS Reported $ 6.31 5.68 6.45 9.22 8.31 9.21 10.9 +7.9%
EPS Normalised $ 6.31 5.68 6.45 9.22 8.31 9.21 10.9 11.5 13.3 +7.9%
EPS Growth % +59.5 -9.9 +13.6 +42.8 -9.9 +10.8 +26.9 +24.8 +15.5
PE Ratio x 20.5 17.4 16.4 14.2
PEG x 0.83 0.70 1.06 1.31
Profitability
Operating Margin % 35.3 28.7 28.7 30.5 27.8 26.8 26.7 +29.6%
ROA % 19.3 18.0 20.5 14.9 13.9 15.9
ROCE % 40.2 30.0 31.2 34.0 24.7 22.3 23.7 +30.4%
ROE % 30.6 33.6 46.2 36.9 36.9 43.1 +36.9%
Cashflow
Op. Cashflow ps $ 7.69 8.23 9.75 14.0 12.0 12.1 13.2 +9.5%
Capex ps $ 1.42 1.39 1.60 1.98 2.46 2.44 2.55 +11.4%
Free Cashflow ps $ 6.26 6.84 8.15 12.0 9.50 9.67 10.6 +9.1%
Last ex-div: 11th May, paid: 17th May more... Dividends
Dividend ps $ 0.38 1.63 1.81 1.98 2.18 2.40 2.52 2.70 3.05 +44.7%
Dividend Growth % +330.2 +11.2 +9.30 +10.1 +10.1 +10.5 +12.7 +12.8
Dividend Yield % 1.27 1.34 1.43 1.62
Dividend Cover x 16.7 3.49 3.56 4.65 3.81 3.84 4.31 4.25 4.35
Balance Sheet
Cash etc $m 29,129 40,546 25,077 41,601 67,155 74,181 87,940 +20.6%
Working Capital $m 19,111 29,628 5,083 8,768 27,863 27,831 40,733 +7.8%
Net Fixed Assets $m 113,052 127,958 154,550 191,958 206,197 238,659 237,449 +16.1%
Net Debt $m -29,129 -23,586 10,218 22,727 19,877 41,499 33,900
Book Value $m 118,210 123,549 111,547 119,355 128,249 134,047 126,878 +2.5%
Average Shares m 6,617 6,522 6,123 5,793 5,500 5,252 5,165 -4.5%
Book Value ps $ 18.0 19.6 19.0 21.4 24.0 26.1 25.7 +7.8%

FINANCIAL BRIEF: For the 26 weeks ended 31 March 2018, Apple Inc. revenues increased 14% to $149.43B. Net income before extraordinary items increased 26% to $36.49B. Revenues reflect Americas- Operating segment increase of 13% to $60.03B, Greater china-Operating segment increase of 15% to $30.98B, Number of Units Sold - iPhone increase of less than 1% to 129.5M. Net income benefited from Americas- Operating segment income increase of 11% to $19.08B. more »

Health Trend
Bankruptcy Risk
Earnings Manipulation Risk
1503     86%    A-
Magic Formula Score
A-
A-
Other Ratios
Leverage (ttm) Total -Intang +Pension
Gross Gearing % 96.0 96.0 96.0
Net Gearing % 26.7 26.7 26.7
Cash / Assets % 23.9 23.9
Liquidity (ttm)
Curr. Ratio 1.46
Quick Ratio 1.37
Interest Cov. 100.0
Efficiency (ttm)
Asset Turnover 0.64
Rec's Turnover 19.1
Stock Turnover 28.9
vs.
market
vs.
industry
Recent History
Latest interim period (ended 31st Mar '18) vs. prior year
Sales Growth 15.6 %
EPS Growth 30.1 %
3yr Compound Annual Growth Rate
Sales Growth 7.84 %
EPS Growth 12.6 %
DPS Growth 9.83 %
Graphical History Current Fiscal Year 2018

Broker Forecasts
30th Sep 2018
30th Sep 2019

Price Target: $195.1
(+3.41% above Price)
Net Profit EPS DPS Net Profit EPS DPS
Est. Long Term Growth Rate: +13.5% ($) ($) ($) ($) ($) ($)
Consensus Estimate 57.75bn 11.5 2.70 62.15bn 13.3 3.05
1m Change +263.4m +0.097 +0.009 -48.9m +0.24 +0.025
3m Change -479.1m -0.054 +0.056 -946.7m +0.071 +0.14
37 brokers Broker Consensus Trend
Broker Recommendations for Apple Inc
Recommendation:Strong SellSellHoldBuyStrong Buy
No. of Analysts: 0 0 14 13 16

Named Brokers and Analysts
Bank of America Merrill Lynch Wamsi Mohan , Deutsche Bank Sherri Scribner , Pacific Crest Securities , Cowen and Company , Stifel Nicolaus and Company, Incorporated , Needham & Company Inc. Laura Martin , D.A. Davidson & Company Thomas Forte , HSBC , Credit Suisse - North America , Oppenheimer & Co., Inc. Andrew Uerkwitz , RBC Capital Markets Amit Daryanani , B. Riley FBR, Inc. , Raymond James Christopher Caso , Piper Jaffray Michael Olson , Morgan Stanley Katy Huberty , Citi Jim Suva , BMO Capital Markets Tim Long , BERNSTEIN Toni Sacconaghi , Wells Fargo Securities, LLC Aaron Rakers , Goldman Sachs Research , Argus Research Corporation Jim Kelleher , Canaccord Genuity T. Michael Walkley , Brean Capital, LLC , Robert W. Baird & Co. William Power , William Blair & Company , KeyBanc Capital Markets Inc. Andrew Hargreaves , Loop Capital Ananda Baruah , JJB Hilliard WL Lyons , UBS Equities Steven Milunovich , JMP Securities , Longbow Research Shawn Harrison , Susquehanna Financial Group LLLP , Maxim Group Nehal Chokshi , Cross Research Shannon Cross , CLSA , Nomura Securities Jeffrey Kvaal , Phillip Securities (Hong Kong) Limited Kang Wei Ho , Exane BNP Paribas , Macquarie Research Ben Schachter , Societe Generale , Daiwa Securities Capital Markets Deepak Sitaraman , JPMorgan , Eugene Investment & Securities Jeong Lee , DZ Bank Ingo Wermann , CRT Capital (Historical) , Everbright Securities Tianzi Fu , CITIC Securities Yingbo Xu , Cantor Fitzgerald , Atlantic Equities James Cordwell , Cleveland Research Company Benjamin Bollin , China International Capital Corporation (Hong Kong) Limited Mei He , Daiwa Capital Markets America , Barclays Mark Moskowitz , Monness, Crespi, Hardt, & Co Inc. Brian White , Daishin Securities Kor Lang Kangho(John) Park , Accountability Research Corp Kevin Chu , Arete Research Richard Kramer , FBN Securities Shebly Seyrafi , Morningstar, Inc. Brian Colello , Mizuho Securities USA Abhey Lamba , Guggenheim Securities LLC Robert Cihra , Crispidea , BTIG Walter Piecyk , BGC partners , Drexel Hamilton Brian White , Telsey Advisory Group , Rosenblatt Securities, Inc. Jun Zhang , Elazar Advisors Chaim Siegel ,

Profile Summary

Apple Inc. designs, manufactures and markets mobile communication and media devices, personal computers and portable digital music players. The Company sells a range of related software, services, accessories, networking solutions, and third-party digital content and applications. The Company's segments include the Americas, Europe, Greater China, Japan and Rest of Asia Pacific. The Americas segment includes both North and South America. The Europe segment includes European countries, India, the Middle East and Africa. The Greater China segment includes China, Hong Kong and Taiwan. The Rest of Asia Pacific segment includes Australia and the Asian countries not included in the Company's other operating segments. Its products and services include iPhone, iPad, Mac, iPod, Apple Watch, Apple TV, a portfolio of consumer and professional software applications, iPhone OS (iOS), OS X and watchOS operating systems, iCloud, Apple Pay and a range of accessory, service and support offerings.

Directors: Art Levinson (CHM) 67, Timothy Cook (CEO) 57, Luca Maestri (CFO) 54, Jeff Williams (COO) 54, Katherine Adams (SVP) 53, Phil Schiller (SVP) 57, Angela Ahrendts (SVP) 57, Eddy Cue (SVP) 54, Craig Federighi (SVP) 48, Daniel Riccio (SVP) 55, James Bell (IND) 69, AI Gore (IND) 69, Robert Iger (IND) 67, Andrea Jung (IND) 59, Ronald Sugar (IND) 69,

No. of Employees: 123,000 No. of Shareholders: 25,333


Last Annual September 30th, 2017
Last Interim March 31st, 2018
Incorporated January 3, 1977
Public Since December 12, 1980
Shares in Issue 4,915,138,000
Free Float 4.91bn (99.9%)

AAPL Share Price Performance AAPLQuote
$188.58
0.4  0.2%
Traded 9:00pm · Minimum 15 min delayed · NMS:

Latest AAPL News Announcements (delayed)

Upcoming AAPL Events
Monday 30th July, 2018 (estimate)
Q3 2018 Apple Inc Earnings Release

Recent ↓
Friday 11th May, 2018
Dividend For AAPL.OQ
Friday 11th May, 2018
Dividend For AAPL.BA
Tuesday 1st May, 2018
Q2 2018 Apple Inc Earnings Call
Tuesday 1st May, 2018
Q2 2018 Apple Inc Earnings Release
Tuesday 13th February, 2018
Apple Inc Annual Shareholders Meeting
Friday 9th February, 2018
Dividend For AAPL.OQ
Friday 9th February, 2018
Dividend For AAPL.BA
Thursday 1st February, 2018
Q1 2018 Apple Inc Earnings Call
Thursday 1st February, 2018
Q1 2018 Apple Inc Earnings Release
Friday 10th November, 2017
Dividend For AAPL
Friday 10th November, 2017
Dividend For AAPL4
Thursday 2nd November, 2017
Q4 2017 Apple Inc Earnings Call
Thursday 2nd November, 2017
Q4 2017 Apple Inc Earnings Release
Thursday 10th August, 2017
Dividend For AAPL
Thursday 10th August, 2017
Dividend For AAPL4
Tuesday 1st August, 2017
Q3 2017 Apple Inc Earnings Call
Tuesday 1st August, 2017
Q3 2017 Apple Inc Earnings Release
Thursday 11th May, 2017
Dividend For AAPL4
Thursday 11th May, 2017
Dividend For AAPL
Tuesday 2nd May, 2017
Q2 2017 Apple Inc Earnings Call


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