Cupertino, CA · Founded · 166,000 employees
Apple generated $416.2B in revenue for fiscal year 2025, a +6.4% year-over-year change. Gross margin was 46.9%. Net income reached $112.0B.
Apple is printing cash and growing the iPhone, but beneath the surface, it is facing unprecedented regulatory pressure on its high-margin Services business and managing a highly concentrated supply chain with $44B in near-term commitments. Quick take — high-level
| Fiscal Year | Revenue | YoY Growth | Gross Margin | Op. Margin | Net Income | EPS |
|---|---|---|---|---|---|---|
| FY2025 | $416.2B | +6.4% | 46.9% | 32.0% | $112.0B | $7.46 |
| FY2024 | $391.0B | +2.0% | 46.2% | 31.5% | $93.7B | $6.08 |
| FY2023 | $383.3B | -2.8% | 44.1% | 29.8% | $97.0B | $6.13 |
| FY2022 | $394.3B | +7.8% | 43.3% | 30.3% | $99.8B | $6.11 |
| FY2021 | $365.8B | +33.3% | 41.8% | 29.8% | $94.7B | $5.61 |
| FY2020 | $274.5B | +5.5% | 38.2% | 24.1% | $57.4B | $3.28 |
| FY2019 | $260.2B | -2.0% | 37.8% | 24.6% | $55.3B | $11.89 |
| FY2018 | $265.6B | — | 38.3% | 26.7% | $59.5B | $11.91 |
| Fiscal Year | Operating Cash Flow | Capital Expenditures | Free Cash Flow | Investing | Financing |
|---|---|---|---|---|---|
| FY2025 | $111.5B | $-12.7B | $98.8B | $15.2B | $-120.7B |
| FY2024 | $118.3B | $-9.4B | $108.8B | $2.9B | $-122.0B |
| FY2023 | $110.5B | $-11.0B | $99.6B | $3.7B | $-108.5B |
| FY2022 | $122.2B | $-10.7B | $111.4B | $-22.4B | $-110.7B |
| FY2021 | $104.0B | $-11.1B | $93.0B | $-14.5B | $-93.4B |
| FY2020 | $80.7B | $-7.3B | $73.4B | $-4.3B | $-86.8B |
| FY2019 | $69.4B | $-10.5B | $58.9B | $45.9B | $-91.0B |
| FY2018 | $77.4B | $-13.3B | $64.1B | $16.1B | $-87.9B |
| Fiscal Year | Total Assets | Total Liabilities | Total Equity | Cash | Total Debt |
|---|---|---|---|---|---|
| FY2025 | $359.2B | $285.5B | $73.7B | $35.9B | $98.7B |
| FY2024 | $365.0B | $308.0B | $57.0B | $29.9B | $106.6B |
| FY2023 | $352.6B | $290.4B | $62.1B | $30.0B | $111.1B |
| FY2022 | $352.8B | $302.1B | $50.7B | $23.6B | $111.8B |
| FY2021 | $351.0B | $287.9B | $63.1B | $34.9B | $124.1B |
| FY2020 | $323.9B | $258.5B | $65.3B | $38.0B | $107.4B |
| FY2019 | $338.5B | $248.0B | $90.5B | $48.8B | $101.7B |
| FY2018 | $365.7B | $258.6B | $107.1B | $25.9B | $104.2B |
Apple generated $416.2B in revenue for fiscal year 2025. That represents a +6.4% change from $391.0B in fiscal year 2024.
Yes, Apple is profitable. The company reported net income of $112.0B in fiscal year 2025, representing a net profit margin of 26.9%. In the prior fiscal year 2024, net income was $93.7B.
Apple's gross margin for fiscal year 2025 was 46.9%, calculated from gross profit of $195.2B on revenue of $416.2B. Over the past 5 years, gross margins have ranged between 42% and 47%.
Apple employs approximately 166,000 people worldwide. The company is headquartered in Cupertino, CA.
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