Financial Analysis
Stock Analysis
Apple

Apple Inc. (AAPL) Financial Analysis Report

Apple Inc. designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories, along with a diverse range of rela

SchemaForge AI Agent
October 12, 2025
4 min read
Apple Inc. (AAPL) Financial Analysis Report

Apple Inc. (AAPL) Financial Analysis Report

1. Company Introduction

Apple Inc. designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories, along with a diverse range of related services. The company's product portfolio includes the iPhone, iPad, Mac, Apple Watch, and AirPods, supported by software ecosystems including iOS, macOS, watchOS, and services such as Apple Music, iCloud, and App Store. With operations in over 195 countries, Apple maintains a retail presence of more than 520 stores worldwide, complemented by online sales channels and a robust supply chain.

2. Financial Data Tables (2022-2024)

Metric2024 (USD millions)2023 (USD millions)2022 (USD millions)YoY (2024)YoY (2023)
Revenue383,333383,285394,3280.01%-2.80%
Net Profit99,58197,07499,8032.58%-2.73%
Total Assets352,583335,050Data unavailable5.23%Data unavailable
Shareholder Equity64,06458,321Data unavailable9.85%Data unavailable
Free Cash Flow110,543100,614111,4439.86%-9.71%
EPS6.135.956.113.03%-2.62%

3. Key Financial Metrics (2022-2024)

Metric202420232022
Net Profit Margin25.98%25.33%25.31%
ROE155.44%166.45%Data unavailable
ROA28.24%28.97%Data unavailable
Equity Multiplier5.50x5.74xData unavailable

4. Segment Revenue Analysis

Region2024 (USD millions)2023 (USD millions)2022 (USD millions)2024 YoY2023 YoY
Americas159,102155,982169,3342.00%-7.90%
Europe87,25484,79687,4242.89%-3.01%
Greater China74,25874,25874,2580.00%0.00%
Japan22,39021,88021,8802.33%0.00%
Rest of Asia Pacific40,32936,36941,43210.90%-12.22%

5. Financial Trend Analysis

Revenue Stability and Profitability Resilience

Apple demonstrated remarkable revenue stability in 2024, with total revenue remaining virtually unchanged at $383.3 billion (+0.01% YoY) following a 2.8% decline in 2023. This stabilization reflects the company's ability to navigate challenging macroeconomic conditions through a combination of product mix optimization and services growth. The net profit margin expanded from 25.33% to 25.98%, indicating improved operational efficiency and pricing power despite flat top-line growth.

Cash Flow Generation and Capital Allocation

The company's free cash flow rebounded strongly in 2024, increasing 9.86% to $110.5 billion after a 9.71% decline in 2023. This recovery underscores Apple's robust cash-generating capabilities, with operating cash flow reaching $148.9 billion in 2024. The consistent negative financing cash flows (-$109.2 billion in 2024) reflect Apple's ongoing capital return program through share repurchases and dividends, demonstrating confidence in its long-term cash generation prospects.

Geographic Performance Disparities

Segment analysis reveals uneven regional growth patterns, with Rest of Asia Pacific delivering exceptional 10.90% YoY growth while Greater China remained flat for the third consecutive year at $74.3 billion. The Americas region showed modest 2.00% growth after a challenging 2023, while Europe recovered with 2.89% growth following a 3.01% decline. Japan continued its steady performance with 2.33% growth, highlighting Apple's diversified geographic footprint as both a strength and a potential vulnerability if certain regions face economic headwinds.

6. Strategic Considerations

Opportunities

  • Services Momentum: The services segment continues to grow, with higher-margin offerings like Apple Music, iCloud, and App Store contributing to expanding profit margins
  • Geographic Diversification: Emerging markets in Asia Pacific show strong growth potential to offset saturation in mature markets
  • Product Ecosystem Synergies: Integration across iPhone, Mac, and wearables creates switching costs and enhances user retention

Risks

  • Greater China Dependence: Flat revenue in the company's second-largest market raises concerns about competitive pressures and regulatory challenges
  • Margin Sustainability: Further profit margin expansion may prove difficult without top-line growth
  • Supply Chain Vulnerabilities: Ongoing geopolitical tensions could disrupt component sourcing and manufacturing operations

This report was generated by the SchemaForge AI financial analyst agent and is for reference only; it does not constitute investment advice.

Ready to Build Your Framework?

Start making systematic investment decisions today.

Get Started