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Apple (AAPL) financial statements: income, balance sheet and cash flow

Nasdaq: AAPL · Information technology · United States

Signed off by OffScriptBySami on  · Updated

Data as of  · For information only, not investment advice.

In brief

Apple (Nasdaq: AAPL) earned net income of USD 29.8 billion on revenue of USD 109 billion in Q3 FY2026, the quarter ended 27 Jun 2026, according to its Form 10-Q. Cash from operations was USD 34.4 billion and free cash flow USD 31.9 billion by our calculation, while total debt stood at USD 84.3 billion.

Data as of Source: Form 10-Q for Q3 FY2026, filed

Key facts

Data as of

Apple (Nasdaq: AAPL) · USD · fiscal year ends late September · figures from SEC filings; derived values are marked.

Revenue, TTM (USD bn)
467
TTM to · derived
Revenue by quarter, from USD 94.9 bn in Q4 FY2024 to USD 109 bn in Q3 FY2026
Operating income, TTM (USD bn)
155
TTM to · derived
Net income, TTM (USD bn)
129
TTM to · derived
Free cash flow, TTM (USD bn)
137
TTM to · derived
Total assets (USD bn)
383
at · Form 10-Q
Net debt (USD bn)
21.9
at · derived: total debt minus cash and short-term investments

What the numbers show

Apple's income statement for Q3 FY2026, the quarter ended 27 Jun 2026, shows revenue of USD 109 billion, up 16.4% on a year earlier. Operating income was USD 35.7 billion and net income USD 29.8 billion, a net margin of 27.2%, our calculation. The gross margin was 50.1%, against 46.5% in Q3 FY2025.

Research and development cost USD 11.7 billion in Q3 FY2026, against USD 8.87 billion a year before. Over the annual run, revenue rose from USD 366 billion in FY2021 to USD 416 billion in FY2025, a compound annual growth rate of 3.3%, our calculation, and net income grew 4.3% a year to USD 112 billion. FY2023 had 53 weeks, so the growth rates for FY2023 and FY2024 carry a note. In Q4 FY2024 income tax was USD 14.9 billion, including a one-time charge tied to the State Aid Decision.

Apple's balance sheet held total assets of USD 383 billion at 27 Jun 2026, against USD 359 billion at the end of FY2025, the year ended 27 Sep 2025. Equity was USD 108 billion. Current assets of USD 150 billion were just above current liabilities of USD 149 billion, where at the end of FY2025 they were USD 148 billion and USD 166 billion. Total intangible assets, net of amortization and including the current portion, were USD 25.4 billion, against USD 13.3 billion at the end of FY2025.

Total debt, combined by the page from the filing's debt lines, was USD 84.3 billion at 27 Jun 2026, down from USD 98.7 billion at the end of FY2025. With cash and short-term investments of USD 62.4 billion, net debt was USD 21.9 billion, our calculation, against USD 44.0 billion at the end of FY2025.

In Apple's cash flow statement for Q3 FY2026, cash from operations was USD 34.4 billion and capital expenditure USD 2.46 billion, so free cash flow, our calculation, was USD 31.9 billion. Buybacks took USD 25.1 billion and dividends paid USD 4.04 billion. A 10-Q reports cash flows year to date, so the Q2 and Q3 cells are our derivations, marked D. Q1 FY2026, the quarter to 27 Dec 2025, had the largest cash from operations of the eight quarters shown, USD 53.9 billion.

In FY2025, buybacks of USD 90.7 billion and dividends paid of USD 15.4 billion together exceeded free cash flow of USD 98.8 billion. In each of the first three quarters of FY2026 the two together were smaller than free cash flow. Diluted EPS was USD 2.02 per share in Q3 FY2026, against USD 1.57 per share in Q3 FY2025, on a diluted count of 14,715 million shares against 14,948 million shares. Apple stock fundamentals sets buybacks and dividends against free cash flow year by year.

Income statement

Chart 1

Apple quarterly revenue, Q4 FY2024 to Q3 FY2026

USD bn · quarters ended to

Revenue by quarter, from USD 94.9 bn in Q4 FY2024 to USD 109 bn in Q3 FY2026.050100150109.4Q4FY24Q1FY25Q2Q3Q4Q1FY26Q2Q3stockfactsheet.com
Source: Apple Forms 10-Q and 10-K, SEC EDGAR Data as of

Annual

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Table 1 Apple income statement, annual, FY2021–FY2025 (USD millions) USD millions, except per-share data (USD) and percentages · Fiscal year ends late September
USD mFY2025ended FY2024ended FY2023ended FY2022ended FY2021ended CAGRFY21–FY25
Revenue416,161391,035383,285394,328365,817increased 3.3%
Revenue YoY %increased 6.4%increased 2.0% 1decreased 2.8% 2increased 7.8%increased 33.3%not available
Cost of revenue220,960210,352214,137223,546212,981increased 0.9%
Gross profit195,201180,683169,148170,782152,836increased 6.3%
Gross margin %46.9%46.2%44.1%43.3%41.8%not available
R&D34,55031,37029,91526,25121,914increased 12.1%
SG&A27,60126,09724,93225,09421,973increased 5.9%
Operating income133,050123,216114,301119,437108,949increased 5.1%
Operating margin %32.0%31.5%29.8%30.3%29.8%not available
Pre-tax income132,729123,485113,736119,103109,207increased 5.0%
Income tax20,71929,74916,74119,30014,527increased 9.3%
Net income112,01093,73696,99599,80394,680increased 4.3%
Net margin %26.9%24.0%25.3%25.3%25.9%not available
Per share
Diluted EPS (USD)7.466.086.136.115.61increased 7.4%
Diluted shares (m)15,00515,40815,81316,32616,865not available
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Source: Apple Forms 10-Q and 10-K, SEC EDGAR Data as of

  • Not available

1 FY2024 had 52 weeks; FY2023 had 53 weeks (364 vs 371 days).

2 FY2023 had 53 weeks; FY2022 had 52 weeks (371 vs 364 days).

CAGR: compound annual growth rate from FY2021 to FY2025, our calculation; n/m when the endpoints differ in sign or the base is zero or negative.

Totals may not add up because of rounding.

Arrows show direction of change only, not whether a change is good or bad.

Quarterly

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Table 2 Apple income statement, quarterly, Q4 FY2024–Q3 FY2026 (USD millions) USD millions, except per-share data (USD) and percentages · Fiscal year ends late September
USD mQ3 FY2026ended Q2 FY2026ended Q1 FY2026ended Q4 FY2025ended Q3 FY2025ended Q2 FY2025ended Q1 FY2025ended Q4 FY2024ended
Revenue109,417111,184143,756102,466 D94,03695,359124,30094,930 D
Revenue YoY %increased 16.4%increased 16.6%increased 15.7%increased 7.9%increased 9.6%increased 5.1%increased 4.0%increased 6.1%
Cost of revenue54,64756,40374,52554,125 D50,31850,49266,02551,051 D
Gross profit54,77054,78169,23148,341 D43,71844,86758,27543,879 D
Gross margin %50.1%49.3%48.2%47.2%46.5%47.1%46.9%46.2%
R&D11,72911,41910,8878,866 D8,8668,5508,2687,765 D
SG&A7,3467,4777,4927,048 D6,6506,7287,1756,523 D
Operating income35,69535,88550,85232,427 D28,20229,58942,83229,591 D
Operating margin %32.6%32.3%35.4%31.6%30.0%31.0%34.5%31.2%
Pre-tax income36,26735,83351,00232,804 D28,03129,31042,58429,610 D
Income tax6,4786,2558,9055,338 D4,5974,5306,25414,874 D
Net income29,78929,57842,09727,466 D23,43424,78036,33014,736 D
Net margin %27.2%26.6%29.3%26.8%24.9%26.0%29.2%15.5%
Per share
Diluted EPS (USD)2.022.012.84not available1.571.652.40not available
Diluted shares (m)14,71514,72614,810not available14,94815,05615,151not available
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Source: Apple Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Fourth quarter derived as the fiscal year minus the nine-month year-to-date total.
  • Not available

Totals may not add up because of rounding.

Arrows show direction of change only, not whether a change is good or bad.

Balance sheet

Annual

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Table 3 Apple assets, annual, FY2021–FY2025 (USD millions) USD millions
USD mFY2025at FY2024at FY2023at FY2022at FY2021at
Cash and short-term investments54,697 D65,171 D61,555 D48,304 D62,639 D
Receivables39,77733,41029,50828,18426,278
Inventory5,7187,2866,3314,9466,580
Total current assets147,957152,987143,566135,405134,836
PP&E (net)49,83445,68043,71542,11739,440
Goodwill and intangibles13,301 1not availablenot availablenot availablenot available
Total assets359,241364,980352,583352,755351,002
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Source: Apple Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Cash and cash equivalents plus the short-term investments, current marketable securities or current debt securities the filing tags, from the same filing.
  • Not available

1 As presented in Form 10-Q filed .

Totals may not add up because of rounding.

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Table 4 Apple liabilities and shareholders' equity, annual, FY2021–FY2025 (USD millions) USD millions · net cash shown as a negative net debt
USD mFY2025at FY2024at FY2023at FY2022at FY2021at
Current liabilities165,631176,392145,308153,982125,481
Total debt98,657 D106,629 D111,088 D120,069 D124,719 D
Total liabilities285,508308,030290,437302,083287,912
Shareholders' equity73,73356,95062,14650,67263,090
Net debt / (net cash)43,960 D41,458 D49,533 D71,765 D62,080 D
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Source: Apple Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Total debt = short-term debt + long-term debt, from the same filing.
  • D Net debt = total debt minus cash and short-term investments; a negative value is net cash.

Totals may not add up because of rounding.

Quarterly

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Table 5 Apple assets, quarterly, Q4 FY2024–Q3 FY2026 (USD millions) USD millions
USD mQ3 FY2026at Q2 FY2026at Q1 FY2026at Q4 FY2025at Q3 FY2025at Q2 FY2025at Q1 FY2025at Q4 FY2024at
Cash and short-term investments62,399 D68,507 D66,907 D54,697 D55,372 D48,498 D53,775 D65,171 D
Receivables31,39830,33939,92139,77727,55726,13629,63933,410
Inventory11,0926,7475,8755,7185,9256,2696,9117,286
Total current assets149,818144,114158,104147,957122,491118,674133,240152,987
PP&E (net)51,43150,11650,15949,83448,50846,87646,06945,680
Goodwill and intangibles25,41725,797not available13,301 1not availablenot availablenot availablenot available
Total assets383,266371,082379,297359,241331,495331,233344,085364,980
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Source: Apple Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Cash and cash equivalents plus the short-term investments, current marketable securities or current debt securities the filing tags, from the same filing.
  • Not available

1 As presented in Form 10-Q filed .

Totals may not add up because of rounding.

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Table 6 Apple liabilities and shareholders' equity, quarterly, Q4 FY2024–Q3 FY2026 (USD millions) USD millions · net cash shown as a negative net debt
USD mQ3 FY2026at Q2 FY2026at Q1 FY2026at Q4 FY2025at Q3 FY2025at Q2 FY2025at Q1 FY2025at Q4 FY2024at
Current liabilities149,326134,641162,367165,631141,120144,571144,365176,392
Total debt84,344 D84,711 D90,509 D98,657 D101,698 D98,186 D96,799 D106,629 D
Total liabilities275,746264,591291,107285,508265,665264,437277,327308,030
Shareholders' equity107,520106,49188,19073,73365,83066,79666,75856,950
Net debt / (net cash)21,945 D16,204 D23,602 D43,960 D46,326 D49,688 D43,024 D41,458 D
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Source: Apple Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Total debt = short-term debt + long-term debt, from the same filing.
  • D Net debt = total debt minus cash and short-term investments; a negative value is net cash.

Totals may not add up because of rounding.

Cash flow

Chart 2

Apple quarterly free cash flow, Q4 FY2024 to Q3 FY2026

USD bn · quarters ended to

Free cash flow by quarter, from USD 23.9 bn in Q4 FY2024 to USD 31.9 bn in Q3 FY2026.020406031.9Q4FY24Q1FY25Q2Q3Q4Q1FY26Q2Q3stockfactsheet.com
Source: Apple Forms 10-Q and 10-K, SEC EDGAR Data as of

Annual

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Table 7 Apple cash flow, annual, FY2021–FY2025 (USD millions) USD millions · outflows shown with a minus sign
USD mFY2025ended FY2024ended FY2023ended FY2022ended FY2021ended
Cash from operations111,482118,254110,543122,151104,038
Capital expenditure−12,715−9,447−10,959−10,708−11,085
Free cash flow98,767 D108,807 D99,584 D111,443 D92,953 D
Dividends paid−15,421−15,234−15,025−14,841−14,467
Share buybacks−90,711−94,949−77,550−89,402−85,971
Cash from investing15,1952,9353,705−22,354−14,545
Cash from financing−120,686−121,983−108,488−110,749−93,353
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Source: Apple Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Free cash flow = cash from operations minus capital expenditure.

Totals may not add up because of rounding.

Quarterly

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Table 8 Apple cash flow, quarterly, Q4 FY2024–Q3 FY2026 (USD millions) USD millions · outflows shown with a minus sign
USD mQ3 FY2026ended Q2 FY2026ended Q1 FY2026ended Q4 FY2025ended Q3 FY2025ended Q2 FY2025ended Q1 FY2025ended Q4 FY2024ended
Cash from operations34,369 D28,702 D53,92529,728 D27,867 D23,952 D29,93526,811 D
Capital expenditure−2,455 D−1,971 D−2,373−3,242 D−3,462 D−3,071 D−2,940−2,908 D
Free cash flow31,914 D26,731 D51,552 D26,486 D24,405 D20,881 D26,995 D23,903 D
Dividends paid−4,035 D−3,822 D−3,921−3,862 D−3,945 D−3,758 D−3,856−3,804 D
Share buybacks−25,105 D−12,288 D−24,701−20,132 D−21,075 D−25,898 D−23,606−25,083 D
Cash from investing−7,757 D−6,168 D−4,886−2,587 D5,073 D2,917 D9,7921,445 D
Cash from financing−32,640 D−22,279 D−39,656−27,476 D−24,833 D−29,006 D−39,371−24,948 D
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Source: Apple Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Quarter derived from year-to-date totals: the six- or nine-month figure minus the earlier quarters.
  • D Fourth quarter derived as the fiscal year minus the nine-month year-to-date total.
  • D Free cash flow = cash from operations minus capital expenditure.

Totals may not add up because of rounding.

Per share and dividends

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Table 9 Apple per-share data and dividends, annual, FY2021–FY2025 USD per share, split-adjusted · shares in millions
USDFY2025ended FY2024ended FY2023ended FY2022ended FY2021ended
Basic EPS (USD)7.496.116.166.155.67
Diluted EPS (USD)7.466.086.136.115.61
Dividends declared per share (USD)1.020.980.940.900.85
Diluted shares (m)15,00515,40815,81316,32616,865
Shares outstanding at year end (m)14,77315,11715,55015,94316,427
FCF cover (×)6.4×7.1×6.6×7.5×6.4×
(opens in new tab)

Source: Apple Forms 10-Q and 10-K, SEC EDGAR Data as of

Notes on these figures

  • R Restated
    • None in the periods shown.
  • D Derived by StockFactsheet
    • Fourth quarter derived as the fiscal year minus the nine-month year-to-date total.
    • Cash and cash equivalents plus the short-term investments, current marketable securities or current debt securities the filing tags, from the same filing.
    • Total debt = short-term debt + long-term debt, from the same filing.
    • Net debt = total debt minus cash and short-term investments; a negative value is net cash.
    • Free cash flow = cash from operations minus capital expenditure.
    • Quarter derived from year-to-date totals: the six- or nine-month figure minus the earlier quarters.
  • Template: standard statement set (not bank or insurer).
  • Arrows show direction of change only, not whether a change is good or bad.

How we got these numbers

Every figure comes from Apple's Forms 10-Q and 10-K as filed with the SEC. Derived values are marked D and explained below.

Full method for this page
Source documents
Forms 10-Q (Q4 FY2024 to Q3 FY2026) and 10-K (FY2021 to FY2025)
Period covered
8 quarters and 5 fiscal years
Calculations
TTM = sum of the last 4 quarters. Q4 = fiscal year minus the nine-month YTD. Margins = line item ÷ revenue. FCF = cash from operations − capital expenditure. CAGR = compound annual growth across the annual table.
Restatements
None in the periods shown.
Comparator
None: this page shows the company's own figures only.
Currency
As reported (USD); no FX conversion.
Read the full methodology

CSV downloads

One file per statement, with the annual and quarterly figures on this page in full units.

Sources and data

Data as of Figures are as reported in the filings below. Derived figures are our calculations (see Methodology).

(opens in new tab)
  1. [1] Filing Form 10-Q, quarter ended 27 Jun 2026 Apple Inc. · · sec.gov
  2. [2] Filing Form 10-Q, quarter ended 28 Mar 2026 Apple Inc. · · sec.gov
  3. [3] Filing Form 10-Q, quarter ended 27 Dec 2025 Apple Inc. · · sec.gov
  4. [4] Filing Form 10-K, fiscal year ended 27 Sep 2025 Apple Inc. · · sec.gov
  5. [5] Filing Form 10-Q, quarter ended 28 Jun 2025 Apple Inc. · · sec.gov
  6. [6] Filing Form 10-Q, quarter ended 29 Mar 2025 Apple Inc. · · sec.gov
  7. [7] Filing Form 10-Q, quarter ended 28 Dec 2024 Apple Inc. · · sec.gov
  8. [8] Filing Form 10-K, fiscal year ended 28 Sep 2024 Apple Inc. · · sec.gov
  9. [9] Filing Form 10-K, fiscal year ended 30 Sep 2023 Apple Inc. · · sec.gov
  10. [10] Filing Form 10-K, fiscal year ended 24 Sep 2022 Apple Inc. · · sec.gov
  11. [11] Filing Form 10-K, fiscal year ended 25 Sep 2021 Apple Inc. · · sec.gov
  12. [12] Filing Form 10-Q, quarter ended 29 Jun 2024 Apple Inc. · · sec.gov
  13. [13] Filing Form 10-Q, quarter ended 30 Mar 2024 Apple Inc. · · sec.gov
  14. [14] Filing Form 10-Q, quarter ended 30 Dec 2023 Apple Inc. · · sec.gov
  15. [15] Filing Form 10-Q, quarter ended 1 Jul 2023 Apple Inc. · · sec.gov
  16. [16] Filing Form 10-K, fiscal year ended 26 Sep 2020 Apple Inc. · · sec.gov
  17. [17] Our dataset StockFactsheet fundamentals dataset, extracted from SEC EDGAR XBRL on ; derived values (Q4, TTM, free cash flow, net debt, margins, growth rates and ratios) are explained in Methodology.

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StockFactsheet (2026). "Apple (AAPL) financial statements: income, balance sheet and cash flow." Signed off by OffScriptBySami. Updated ; data as of . https://stockfactsheet.com/stocks/aapl/financials/

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