Apple Inc. (AAPL) · 43+ Years of Financial statements

Income Statement	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Sales/Revenue/Turnover	42,905	65,225	108,249	156,508	170,910	182,795	233,715	215,639	229,234	265,595	260,174	274,515	365,817	394,328	383,285
+ Sales & Services Revenue	42,905	65,225	108,249	156,508	170,910	182,795	233,715	215,639	229,234	265,595	260,174	274,515	365,817	394,328	383,285
- Cost of Revenue	25,683	39,541	64,431	87,846	106,606	112,258	140,089	131,376	141,048	163,756	161,782	169,559	212,981	223,546	214,137
+ Cost of Goods & Services	25,683	39,541	64,431	87,846	106,606	112,258	140,089	131,376	141,048	163,756	161,782	169,559	212,981	223,546	214,137
Gross Profit	17,222	25,684	43,818	68,662	64,304	70,537	93,626	84,263	88,186	101,839	98,392	104,956	152,836	170,782	169,148
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	5,482	7,299	10,028	13,421	15,305	18,034	22,396	24,239	26,842	30,941	34,462	38,668	43,887	51,345	54,847
+ Selling, General & Admin	4,149	5,517	7,599	10,040	10,830	11,993	14,329	14,194	15,261	16,705	18,245	19,916	21,973	25,094	24,932
+ Research & Development	1,333	1,782	2,429	3,381	4,475	6,041	8,067	10,045	11,581	14,236	16,217	18,752	21,914	26,251	29,915
+ Other Operating Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income (Loss)	11,740	18,385	33,790	55,241	48,999	52,503	71,230	60,024	61,344	70,898	63,930	66,288	108,949	119,437	114,301
- Non-Operating (Income) Loss	-326	-155	-415	-522	-1,156	-980	-1,285	-1,348	-2,745	-2,005	-1,807	-803	-258	334	565
+ Interest Expense, Net	-407	-311	-519	-1,088	-1,480	-1,411	-2,188	-2,543	-2,878	-2,446	-1,385	-890	-198	106	183
+ Interest Expense	- -	- -	- -	- -	136	384	733	1,456	2,323	3,240	3,576	2,873	2,645	2,931	3,933
- Interest Income	407	311	519	1,088	1,616	1,795	2,921	3,999	5,201	5,686	4,961	3,763	2,843	2,825	3,750
+ Other Non-Op (Income) Loss	81	156	104	566	324	431	903	1,195	133	441	-422	87	-60	228	382
Pretax Income	12,066	18,540	34,205	55,763	50,155	53,483	72,515	61,372	64,089	72,903	65,737	67,091	109,207	119,103	113,736
- Income Tax Expense (Benefit)	3,831	4,527	8,283	14,030	13,118	13,973	19,121	15,685	15,738	13,372	10,481	9,680	14,527	19,300	16,741
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	8,235	14,013	25,922	41,733	37,037	39,510	53,394	45,687	48,351	59,531	55,256	57,411	94,680	99,803	96,995
- Net Extraordinary Losses (Gains)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	8,235	14,013	25,922	41,733	37,037	39,510	53,394	45,687	48,351	59,531	55,256	57,411	94,680	99,803	96,995
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	8,235	14,013	25,922	41,733	37,037	39,510	53,394	45,687	48,351	59,531	55,256	57,411	94,680	99,803	96,995
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	8,235	14,013	25,922	41,733	37,037	39,510	53,394	45,687	48,351	59,531	55,256	57,411	94,680	99,803	96,995
Basic Weighted Avg Shares	25,004	25,465	25,879	26,175	25,909	24,342	23,014	21,883	20,869	19,822	18,471	17,352	16,701	16,216	15,744
Basic EPS, GAAP	0.33	0.55	1	1.59	1.43	1.62	2.32	2.09	2.32	3	2.99	3.31	5.67	6.15	6.16
Basic EPS from Cont Ops	0.33	0.55	1	1.59	1.43	1.62	2.32	2.09	2.32	3	2.99	3.31	5.67	6.15	6.16
Diluted Weighted Avg Shares	25,396	25,892	26,226	26,470	26,087	24,491	23,172	22,001	21,007	20,000	18,596	17,528	16,865	16,326	15,813
Diluted EPS, GAAP	0.32	0.54	0.99	1.58	1.42	1.61	2.3	2.08	2.3	2.98	2.97	3.28	5.61	6.11	6.13
Diluted EPS from Cont Ops	0.32	0.54	0.99	1.58	1.42	1.61	2.3	2.08	2.3	2.98	2.97	3.28	5.61	6.11	6.13
EBITDA	12,474	19,412	35,604	58,518	55,756	60,449	82,487	70,529	71,501	81,801	76,477	77,344	120,233	130,541	125,820
EBITDA Margin (%)	29.07	29.76	32.89	37.39	32.62	33.07	35.29	32.71	31.19	30.8	29.39	28.17	32.87	33.1	32.83
EBITA	11,740	18,385	33,790	55,241	48,999	52,503	71,230	60,024	61,344	70,898	63,930	66,288	108,949	119,437	114,301
EBIT	11,740	18,385	33,790	55,241	48,999	52,503	71,230	60,024	61,344	70,898	63,930	66,288	108,949	119,437	114,301
Gross Margin (%)	40.14	39.38	40.48	43.87	37.62	38.59	40.06	39.08	38.47	38.34	37.82	38.23	41.78	43.31	44.13
Operating Margin (%)	27.36	28.19	31.22	35.3	28.67	28.72	30.48	27.84	26.76	26.69	24.57	24.15	29.78	30.29	29.82
Profit Margin (%)	19.19	21.48	23.95	26.67	21.67	21.61	22.85	21.19	21.09	22.41	21.24	20.91	25.88	25.31	25.31
Sales per Employee	1,165,897	1,320,344	1,710,095	2,056,610	2,025,000	1,884,485	2,124,682	1,858,957	1,863,691	2,012,083	1,899,080	1,867,449	2,375,435	2,404,439	2,380,652
Dividend per Share	- -	- -	- -	0.1	0.41	0.46	0.5	0.56	0.61	0.69	0.76	0.81	0.87	0.92	0.95
Depreciation Expense	734	1,027	1,814	3,277	6,757	7,946	11,257	10,505	10,157	10,903	12,547	11,056	11,284	11,104	11,519

Balance Sheet	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Total Current Assets	31,555	41,678	44,988	57,653	73,286	68,531	89,378	106,869	128,645	131,339	162,819	143,713	134,836	135,405	143,566
+ Cash, Cash Equivalents & STI	23,464	25,620	25,952	29,129	40,546	25,077	41,601	67,155	74,181	66,301	100,557	90,943	62,639	48,304	61,555
+ Cash & Cash Equivalents	5,263	11,261	9,815	10,746	14,259	13,844	21,120	20,484	20,289	25,913	48,844	38,016	34,940	23,646	29,965
+ ST Investments	18,201	14,359	16,137	18,383	26,287	11,233	20,481	46,671	53,892	40,388	51,713	52,927	27,699	24,658	31,590
+ Accounts & Notes Receiv	5,057	9,924	11,717	18,692	20,641	27,219	30,343	29,299	35,673	48,995	45,804	37,445	51,506	60,932	60,985
+ Accounts Receivable, Net	3,361	5,510	5,369	10,930	13,102	17,460	16,849	15,754	17,874	23,186	22,926	16,120	26,278	28,184	29,508
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	1,696	4,414	6,348	7,762	7,539	9,759	13,494	13,545	17,799	25,809	22,878	21,325	25,228	32,748	31,477
+ Inventories	455	1,051	776	791	1,764	2,111	2,349	2,132	4,855	3,956	4,106	4,061	6,580	4,946	6,331
+ Raw Materials	- -	- -	- -	124	683	471	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	667	1,081	1,640	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	455	1,051	776	- -	- -	- -	2,349	2,132	4,855	3,956	4,106	4,061	6,580	4,946	6,331
+ Other ST Assets	2,579	5,083	6,543	9,041	10,335	14,124	15,085	8,283	13,936	12,087	12,352	11,264	14,111	21,223	14,695
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	15,946	33,505	71,383	118,411	133,714	163,308	200,967	214,817	246,674	234,386	175,697	180,175	216,166	217,350	209,017
+ Property, Plant & Equip, Net	2,954	4,768	7,777	15,452	16,597	20,624	22,471	27,010	33,783	41,304	37,378	36,766	39,440	42,117	43,715
+ Property, Plant & Equip	4,667	7,234	11,768	21,887	28,519	39,015	49,257	61,245	75,076	90,403	95,957	103,526	109,723	114,457	114,599
- Accumulated Depreciation	1,713	2,466	3,991	6,435	11,922	18,391	26,786	34,235	41,293	49,099	58,579	66,760	70,283	72,340	70,884
+ LT Investments & Receivables	10,528	25,391	55,618	92,122	106,215	130,162	164,065	170,430	194,714	170,799	105,341	100,887	127,877	120,805	100,544
+ LT Investments	10,528	25,391	55,618	92,122	106,215	130,162	164,065	170,430	194,714	170,799	105,341	100,887	127,877	120,805	100,544
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	2,464	3,346	7,988	10,837	10,902	12,522	14,431	17,377	18,177	22,283	32,978	42,522	48,849	54,428	64,758
+ Total Intangible Assets	453	1,083	4,432	5,359	5,756	8,758	9,009	8,620	8,015	- -	- -	- -	- -	- -	- -
+ Goodwill	206	741	896	1,135	1,577	4,616	5,116	5,414	5,717	- -	- -	- -	- -	- -	- -
+ Other Intangible Assets	247	342	3,536	4,224	4,179	4,142	3,893	3,206	2,298	- -	- -	- -	- -	- -	- -
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	2,011	2,263	3,556	5,478	5,146	3,764	5,422	8,757	10,162	22,283	32,978	42,522	48,849	54,428	64,758
Total Assets	47,501	75,183	116,371	176,064	207,000	231,839	290,345	321,686	375,319	365,725	338,516	323,888	351,002	352,755	352,583
+ Payables & Accruals	6,967	13,382	17,610	25,258	27,825	48,649	60,671	59,321	44,242	55,888	46,236	42,296	54,763	64,115	62,611
+ Accounts Payable	5,601	12,015	14,632	21,175	22,367	30,196	35,490	37,294	44,242	55,888	46,236	42,296	54,763	64,115	62,611
+ Accrued Taxes	430	210	1,140	1,535	1,200	1,209	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	936	1,157	1,838	2,548	4,258	17,244	25,181	22,027	- -	- -	- -	- -	- -	- -	- -
+ ST Debt	- -	- -	- -	- -	- -	6,308	10,999	11,605	18,473	20,748	16,240	13,769	15,613	21,110	15,807
+ ST Borrowings	- -	- -	- -	- -	- -	6,308	10,999	11,605	18,473	20,748	16,240	13,769	15,613	21,110	15,807
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Liabilities	4,539	7,340	10,360	13,284	15,833	8,491	8,940	8,080	38,099	39,293	43,242	49,327	55,105	68,757	66,890
+ Deferred Revenue	2,053	2,984	4,091	5,953	7,435	8,491	8,940	8,080	7,548	5,966	5,522	6,643	7,612	7,912	8,061
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	2,486	4,356	6,269	7,331	8,398	- -	- -	- -	30,551	33,327	37,720	42,684	47,493	60,845	58,829
Total Current Liabilities	11,506	20,722	27,970	38,542	43,658	63,448	80,610	79,006	100,814	115,929	105,718	105,392	125,481	153,982	145,308
+ LT Debt	- -	- -	- -	- -	16,960	28,987	53,329	75,427	97,207	93,735	91,807	98,667	109,106	98,959	95,281
+ LT Borrowings	- -	- -	- -	- -	16,960	28,987	53,329	75,427	97,207	93,735	91,807	98,667	109,106	98,959	95,281
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Liabilities	4,355	6,670	11,786	19,312	22,833	27,857	37,051	39,004	43,251	48,914	50,503	54,490	53,325	49,142	49,848
+ Accrued Liabilities	853	5,439	9,845	16,495	19,114	23,290	27,686	28,949	34,340	3,223	- -	- -	- -	- -	- -
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	3,502	1,231	1,941	2,817	3,719	4,567	9,365	10,055	8,911	45,691	50,503	54,490	53,325	49,142	49,848
Total Noncurrent Liabilities	4,355	6,670	11,786	19,312	39,793	56,844	90,380	114,431	140,458	142,649	142,310	153,157	162,431	148,101	145,129
Total Liabilities	15,861	27,392	39,756	57,854	83,451	120,292	170,990	193,437	241,272	258,578	248,028	258,549	287,912	302,083	290,437
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	16,420	10,668	13,331	16,422	19,764	23,313	27,416	31,251	35,867	40,201	45,174	50,779	57,365	64,849	73,812
+ Common Stock	8,210	10,668	13,331	16,422	19,764	23,313	27,416	31,251	35,867	40,201	45,174	50,779	57,365	64,849	73,812
+ Additional Paid in Capital	8,210	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Treasury Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Retained Earnings	23,353	37,169	62,841	101,289	104,256	87,152	92,284	96,364	98,330	70,400	45,898	14,966	5,562	-3,068	-214
+ Other Equity	77	-46	443	499	-471	1,082	-345	634	-150	-3,454	-584	-406	163	-11,109	-11,452
Equity Before Minority Interest	31,640	47,791	76,615	118,210	123,549	111,547	119,355	128,249	134,047	107,147	90,488	65,339	63,090	50,672	62,146
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	31,640	47,791	76,615	118,210	123,549	111,547	119,355	128,249	134,047	107,147	90,488	65,339	63,090	50,672	62,146
Total Liabilities & Equity	47,501	75,183	116,371	176,064	207,000	231,839	290,345	321,686	375,319	365,725	338,516	323,888	351,002	352,755	352,583
Shares Outstanding	25,195	25,647	26,020	26,298	25,178	23,465	22,315	21,345	20,505	19,020	17,773	16,977	16,427	15,943	15,550
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt	-5,263	-11,261	-9,815	-10,746	2,701	21,451	43,208	66,548	95,391	88,570	59,203	74,420	89,779	96,423	81,123
Net Debt to Equity	-16.63	-23.56	-12.81	-9.09	2.19	19.23	36.2	51.89	71.16	82.66	65.43	113.9	142.3	190.29	130.54
Tangible Common Equity Ratio	66.29	63.03	64.48	66.11	58.53	46.08	39.22	38.21	34.31	29.3	26.73	20.17	17.97	14.36	17.63
Current Ratio	2.74	2.01	1.61	1.5	1.68	1.08	1.11	1.35	1.28	1.13	1.54	1.36	1.07	0.88	0.99
Cash Conversion Cycle	-47.74	-48.33	-52.28	-52.12	-43.83	-48.38	-52.83	-67.46	-67.69	-74.17	-73.66	-60.57	-51.93	-63.15	-70.23
Number of Employees	36,800	49,400	63,300	76,100	84,400	97,000	110,000	116,000	123,000	132,000	137,000	147,000	154,000	164,000	161,000

Cash Flow Statement	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
+ Net Income	8,235	14,013	25,922	41,733	37,037	39,510	53,394	45,687	48,351	59,531	55,256	57,411	94,680	99,803	96,995
+ Depreciation & Amortization	734	1,027	1,814	3,277	6,757	7,946	11,257	10,505	10,157	10,903	12,547	11,056	11,284	11,104	11,519
+ Non-Cash Items	1,776	2,319	4,036	6,145	3,394	5,210	5,353	9,634	10,640	-27,694	5,076	6,517	2,985	10,044	8,606
+ Stock-Based Compensation	710	879	1,168	1,740	2,253	2,863	3,586	4,210	4,840	5,340	6,068	6,829	7,906	9,038	10,833
+ Deferred Income Taxes	1,040	1,440	2,868	4,405	1,141	2,347	1,382	4,938	5,966	-32,590	-340	-215	-4,774	895	- -
+ Asset Impairment Charge	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Cash Adj	26	- -	- -	- -	- -	- -	385	486	-166	-444	-652	-97	-147	111	-2,227
+ Chg in Non-Cash Work Cap	-586	1,236	5,757	-299	6,478	7,047	11,262	405	-4,923	34,694	-3,488	5,690	-4,911	1,200	-6,577
+ (Inc) Dec in Accts Receiv	-353	-4,860	-1,791	-6,965	-1,949	-6,452	-3,318	476	-6,347	-13,332	3,176	8,470	-14,028	-9,343	-417
+ (Inc) Dec in Inventories	54	-596	275	-15	-973	-76	-238	217	-2,723	828	-289	-127	-2,642	1,484	-1,618
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	92	6,307	2,515	4,467	2,340	5,938	5,001	2,117	8,966	9,175	-1,923	-4,062	12,326	9,448	-1,889
+ Inc (Dec) in Other	-379	385	4,758	2,214	7,060	7,637	9,817	-2,405	-4,819	38,023	-4,452	1,409	-567	-389	-2,653
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	10,159	18,595	37,529	50,856	53,666	59,713	81,266	66,231	64,225	77,434	69,391	80,674	104,038	122,151	110,543
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-1,213	-2,121	-7,452	-9,402	-9,076	-9,813	-11,488	-13,548	-12,795	-13,313	-10,495	-7,309	-11,085	-10,708	-10,959
+ Acq of Fixed Prod Assets	-1,144	-2,005	-4,260	-8,295	-8,165	-9,571	-11,247	-12,734	-12,451	-13,313	-10,495	-7,309	-11,085	-10,708	-10,959
+ Acq of Intangible Assets	-69	-116	-3,192	-1,107	-911	-242	-241	-814	-344	- -	- -	- -	- -	- -	- -
+ Net Change in LT Investment	-16,147	-11,075	-32,464	-38,427	-24,042	-9,027	-44,417	-32,022	-33,542	30,845	58,093	5,453	-3,075	-9,560	16,001
+ Dec in LT Investment	30,678	46,718	69,853	112,805	124,447	208,111	121,985	111,794	126,465	104,072	98,724	120,391	106,483	67,363	45,514
+ Inc in LT Investment	-46,825	-57,793	-102,317	-151,232	-148,489	-217,138	-166,402	-143,816	-160,007	-73,227	-40,631	-114,938	-109,558	-76,923	-29,513
+ Net Cash From Acq & Div	- -	-638	-244	-350	-496	-3,765	-343	-297	-329	-721	-624	-1,524	-33	-306	- -
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	-638	-244	-350	-496	-3,765	-343	-297	-329	-721	-624	-1,524	-33	-306	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	-74	-20	-259	-48	-160	26	-26	-110	220	-745	-1,078	-909	-352	-1,780	-1,337
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-17,434	-13,854	-40,419	-48,227	-33,774	-22,579	-56,274	-45,977	-46,446	16,066	45,896	-4,289	-14,545	-22,354	3,705
+ Dividends Paid	- -	- -	- -	-2,488	-10,564	-11,126	-11,561	-12,150	-12,769	-13,712	-14,119	-14,081	-14,467	-14,841	-15,025
+ Net Cash From Debt	- -	- -	- -	- -	16,896	11,960	27,114	22,454	25,162	469	-1,842	3,462	11,643	-4,078	-5,923
+ Cash From Debt	- -	- -	- -	- -	16,896	11,960	27,114	24,954	28,662	6,969	6,963	16,091	20,393	5,465	5,228
+ Repayments of Debt	- -	- -	- -	- -	- -	- -	- -	-2,500	-3,500	-6,500	-8,805	-12,629	-8,750	-9,543	-11,151
+ Cash (Repurchase) of Equity	475	912	831	665	-22,330	-44,270	-34,710	-29,227	-32,345	-72,069	-66,116	-71,478	-84,866	-89,402	-77,550
+ Increase in Capital Stock	475	912	831	665	530	730	543	495	555	669	781	880	1,105	- -	- -
+ Decrease in Capital Stock	- -	- -	- -	- -	-22,860	-45,000	-35,253	-29,722	-32,900	-72,738	-66,897	-72,358	-85,971	-89,402	-77,550
+ Other Financing Activities	188	345	613	125	-381	5,887	1,441	-1,967	1,978	-2,564	-8,899	-4,723	-5,663	-2,428	-9,990
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	663	1,257	1,444	-1,698	-16,379	-37,549	-17,716	-20,890	-17,974	-87,876	-90,976	-86,820	-93,353	-110,749	-108,488
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Changes in Cash	-6,612	5,998	-1,446	931	3,513	-415	7,276	-636	-195	5,624	24,311	-10,435	-3,860	-10,952	5,760
Capital Expenditures	-1,213	-2,121	-7,452	-9,402	-9,076	-9,813	-11,488	-13,548	-12,795	-13,313	-10,495	-7,309	-11,085	-10,708	-10,959
EBITDA	12,474	19,412	35,604	58,518	55,756	60,449	82,487	70,529	71,501	81,801	76,477	77,344	120,233	130,541	125,820
EBITDA Margin (%)	29.07	29.76	32.89	37.39	32.62	33.07	35.29	32.71	31.19	30.8	29.39	28.17	32.87	33.1	32.83
Net Cash Paid for Acquisitions	- -	638	244	350	496	3,765	343	297	329	721	624	1,524	33	306	- -
Free Cash Flow	8,946	16,474	30,077	41,454	44,590	49,900	69,778	52,683	51,430	64,121	58,896	73,365	92,953	111,443	99,584
Free Cash Flow to Firm	8,946	16,474	30,077	41,454	44,690	50,184	70,318	53,767	53,183	66,767	61,902	75,823	95,246	113,899	102,938
Free Cash Flow to Equity	9,015	16,590	33,269	42,561	62,397	62,102	97,133	75,951	76,936	64,590	57,054	76,827	104,596	107,365	93,661
Free Cash Flow per Basic Share	0.36	0.65	1.16	1.58	1.72	2.05	3.03	2.41	2.46	3.23	3.19	4.23	5.57	6.87	6.33
Price/Free Cash Flow	14.83	12.9	8.06	10.65	7.08	8.88	6.88	7.75	10.45	12.39	12.86	22.67	21.05	17.36	22.39
Cash Flow to Net Income	1.23	1.33	1.45	1.22	1.45	1.51	1.52	1.45	1.33	1.3	1.26	1.41	1.1	1.22	1.14

Apple Inc.

AAPL US

208.14