Apple Inc.

Apple's Sales of iPhone fell 13.6% yoy to USD 142,381 mil in 2019

By Helgi Analytics - October 31, 2019

Apple Inc. reached total sales of USD 260,174 mil in 2019, down 2.04% when compared to the previous year. Historically, company's...

Profit Statement 2017 2018 2019
Sales USD mil 229,234 265,595 260,174
Gross Profit USD mil 88,186 101,839 98,392
EBITDA USD mil 76,569 81,801 76,477
EBIT USD mil 61,344 70,898 63,930
Financing Cost USD mil -2,745 -2,005 -1,807
Pre-Tax Profit USD mil 64,089 72,903 65,737
Net Profit USD mil 48,351 59,531 55,256
Dividends USD mil 13,712 13,479 13,854
Balance Sheet 2017 2018 2019
Total Assets USD mil 375,319 365,725 338,516
Non-Current Assets USD mil 246,674 234,386 175,697
Current Assets USD mil 128,645 131,339 162,819
Working Capital USD mil -21,588 -28,746 -19,204
Shareholders' Equity USD mil 134,047 107,147 90,488
Liabilities USD mil 241,272 258,578 248,028
Total Debt USD mil 115,680 114,483 108,047
Net Debt USD mil 41,499 48,182 7,490
Ratios 2017 2018 2019
ROE % 36.9 49.4 55.9
ROCE % 23.0 27.6 30.5
Gross Margin % 38.5 38.3 37.8
EBITDA Margin % 33.4 30.8 29.4
EBIT Margin % 26.8 26.7 24.6
Net Margin % 21.1 22.4 21.2
Net Debt/EBITDA 0.542 0.589 0.098
Net Debt/Equity % 0.310 0.450 0.083
Cost of Financing % -2.71 -1.74 -1.62
Valuation 2017 2018 2019
Market Capitalisation USD mil 809,391 1,130,020 1,101,790
Enterprise Value (EV) USD mil 850,890 1,178,210 1,109,280
Number Of Shares mil 5,252 5,000 4,649
Share Price USD 154 226 237
EV/EBITDA 11.1 14.4 14.5
EV/Sales 3.71 4.44 4.26
Price/Earnings (P/E) 16.7 19.0 19.9
Price/Book Value (P/BV) 6.04 10.5 12.2
Dividend Yield % 1.56 1.20 1.27

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summary Unit 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                                
Sales USD mil                   170,910 182,795 233,715 215,639 229,234    
Gross Profit USD mil                   64,304 70,537 93,626 84,263 88,186    
EBIT USD mil                   50,291 53,867 73,248 60,024 61,344    
Net Profit USD mil                   37,037 39,510 53,394 45,687 48,351    
ROE % ...                 30.6 33.6 46.2 36.9 36.9    
EBIT Margin %                   29.4 29.5 31.3 27.8 26.8    
Net Margin %                   21.7 21.6 22.8 21.2 21.1    
balance sheet                                
Total Assets USD mil ...                 207,000 231,839 290,345 321,686 375,319    
Non-Current Assets USD mil ...                 133,714 163,308 200,967 214,817 246,674    
Current Assets USD mil ...                 73,286 68,531 89,378 106,869 128,645    
Shareholders' Equity USD mil ...                 123,549 111,547 119,355 128,249 134,047    
Liabilities USD mil ...                 83,451 120,292 170,990 193,437 241,272    
Non-Current Liabilities USD mil ...                 10,165 51,761 90,380 114,431 140,458    
Current Liabilities USD mil ...                 73,286 68,531 80,610 79,006 100,814    
Net Debt/EBITDA ...                 -0.413 0.165 0.271 0.271 0.542    
Net Debt/Equity % ...                 -0.191 0.092 0.192 0.155 0.310    
Cost of Financing % ... ... ... ... ... ... ... ... ... 1.60 1.47 1.47 -1.78 -2.71    
cash flow                                
Total Cash From Operations USD mil ... ... ...             53,666 59,713 81,266 64,225 64,225    
Total Cash From Investing USD mil ... ... ...             -33,774 -22,579 -56,274 -46,446 -46,446    
Total Cash From Financing USD mil ... ... ...             -16,379 -37,549 -17,716 -17,974 -17,974    
Net Change In Cash USD mil ... ... ...             3,513 -415 7,276 -195 -195    
valuation                                
Market Capitalisation USD mil ... ... ... ...           444,170 616,858 638,976 621,807 809,391    
Number Of Shares mil ...                 6,522 6,123 5,793 5,500 5,252    
Share Price USD ... ... ... ...           68.1 101 110 113 154    
Earnings Per Share (EPS) USD ...                 5.68 6.45 9.22 8.31 9.21    
Book Value Per Share USD ...                 18.9 18.2 20.6 23.3 25.5    
Dividend Per Share USD ... ... ...             1.71 1.82 1.98 2.18 2.40    
Price/Earnings (P/E) ... ... ... ...           12.0 15.6 12.0 13.6 16.7    
Price/Book Value (P/BV) ... ... ... ...           3.60 5.53 5.35 4.85 6.04    
Dividend Yield % ... ... ... ...           2.50 1.81 1.80 1.93 1.56    
Earnings Per Share Growth % ... ...               -9.95 13.6 42.9 -9.87 10.8    
Book Value Per Share Growth % ... ...               6.05 -3.83 13.1 13.2 9.47    
income statement Unit 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                                
Sales USD mil                   170,910 182,795 233,715 215,639 229,234    
Cost of Goods & Services USD mil                   106,606 112,258 140,089 131,376 141,048    
Gross Profit USD mil                   64,304 70,537 93,626 84,263 88,186    
Other Cost USD mil                   7,256 8,724 9,121 10,930 11,617    
EBITDA USD mil                   57,048 61,813 84,505 73,333 76,569    
Depreciation USD mil                   6,757 7,946 11,257 10,157 10,157    
EBIT USD mil                   50,291 53,867 73,248 60,024 61,344    
Financing Cost USD mil                   136 384 733 -1,348 -2,745    
Extraordinary Cost USD mil                   0 0 0 0 0    
Pre-Tax Profit USD mil                   50,155 53,483 72,515 61,372 64,089    
Tax USD mil                   13,118 13,973 19,121 15,685 15,738    
Net Profit USD mil                   37,037 39,510 53,394 45,687 48,351    
Dividends USD mil ... ... ...             11,126 11,561 12,769 12,150 13,712    
growth rates                                
Total Revenue Growth % ...                 9.20 6.95 27.9 -7.73 6.30    
Operating Cost Growth % ...                 -28.5 20.2 4.55 19.8 6.29    
EBITDA Growth % ...                 -2.51 8.35 36.7 -13.2 4.41    
EBIT Growth % ...                 -8.96 7.11 36.0 -18.1 2.20    
Pre-Tax Profit Growth % ...                 -10.1 6.64 35.6 -15.4 4.43    
Net Profit Growth % ...                 -11.3 6.68 35.1 -14.4 5.83    
ratios                                
ROE % ...                 30.6 33.6 46.2 36.9 36.9    
ROCE % ... ...               31.5 28.3 31.7 24.0 23.0    
Gross Margin %                   37.6 38.6 40.1 39.1 38.5    
EBITDA Margin %                   33.4 33.8 36.2 34.0 33.4    
EBIT Margin %                   29.4 29.5 31.3 27.8 26.8    
Net Margin %                   21.7 21.6 22.8 21.2 21.1    
Payout Ratio % ... ... ...             30.0 29.3 23.9 26.6 28.4    
Cost of Financing % ... ... ... ... ... ... ... ... ... 1.60 1.47 1.47 -1.78 -2.71    
Net Debt/EBITDA ...                 -0.413 0.165 0.271 0.271 0.542    
balance sheet Unit 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
balance sheet                                
Non-Current Assets USD mil ...                 133,714 163,308 200,967 214,817 246,674    
Property, Plant & Equipment USD mil ...                 16,597 20,624 22,471 27,010 33,783    
Intangible Assets USD mil ...                 4,179 4,142 3,893 3,206 2,298 ... ...
Goodwill USD mil ...                 1,577 4,616 5,116 5,414 5,717 ... ...
Current Assets USD mil ...                 73,286 68,531 89,378 106,869 128,645    
Inventories USD mil ...                 1,764 2,111 2,349 2,132 4,855    
Receivables USD mil ...                 13,102 17,460 16,849 15,754 17,799    
Cash & Cash Equivalents USD mil ...                 40,546 25,077 41,601 67,155 74,181    
Total Assets USD mil ...                 207,000 231,839 290,345 321,686 375,319    
Shareholders' Equity USD mil ...                 123,549 111,547 119,355 128,249 134,047    
Liabilities USD mil ...                 83,451 120,292 170,990 193,437 241,272    
Non-Current Liabilities USD mil ...                 10,165 51,761 90,380 114,431 140,458    
Long-Term Debt USD mil ...                 16,960 28,987 53,463 75,427 97,207    
Deferred Tax Liabilities USD mil ... ... ... ... ... ... ... ... ... 16,489 20,259 24,062 26,019 2,836   ...
Current Liabilities USD mil ...                 73,286 68,531 80,610 79,006 100,814    
Short-Term Debt USD mil ...                 0 6,308 10,999 11,605 18,473    
Trade Payables USD mil ...                 22,367 30,196 35,490 37,294 44,242    
Equity And Liabilities USD mil ...                 207,000 231,839 290,345 321,686 375,319    
growth rates                                
Total Asset Growth % ... ...               17.6 12.0 25.2 10.8 16.7    
Shareholders' Equity Growth % ... ...               4.52 -9.71 7.00 7.45 4.52    
Net Debt Growth % ... ...               -19.0 -143 124 -13.1 109    
Total Debt Growth % ... ... ... ... ... ... ... ... ... ... 108 82.6 35.0 32.9    
ratios                                
Total Debt USD mil ...                 16,960 35,295 64,462 87,032 115,680    
Net Debt USD mil ...                 -23,586 10,218 22,861 19,877 41,499    
Working Capital USD mil ...                 -7,501 -10,625 -16,292 -19,408 -21,588    
Capital Employed USD mil ...                 126,213 152,683 184,675 195,409 225,086    
Net Debt/Equity % ...                 -0.191 0.092 0.192 0.155 0.310    
Cost of Financing % ... ... ... ... ... ... ... ... ... 1.60 1.47 1.47 -1.78 -2.71    
cash flow Unit 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
cash flow                                
Net Profit USD mil                   37,037 39,510 53,394 45,687 48,351    
Depreciation USD mil                   6,757 7,946 11,257 10,157 10,157    
Non-Cash Items USD mil ... ... ...             10,971 9,133 10,948 5,265 3,537    
Change in Working Capital USD mil ... ...               -1,099 3,124 5,667 3,116 2,180    
Total Cash From Operations USD mil ... ... ...             53,666 59,713 81,266 64,225 64,225    
Capital Expenditures USD mil ... ... ...             -9,076 -9,813 -11,488 -12,451 -12,451    
Other Investments USD mil ... ... ...             -24,698 -12,766 -44,786 -33,995 -33,995    
Total Cash From Investing USD mil ... ... ...             -33,774 -22,579 -56,274 -46,446 -46,446    
Dividends Paid USD mil ... ... ...             -10,564 -11,126 -11,561 -12,769 -12,150    
Issuance Of Shares USD mil ... ... ...             -22,330 -44,270 -34,710 -34,219 -32,345    
Issuance Of Debt USD mil ... ... ...             16,515 17,847 28,555 29,014 26,521    
Total Cash From Financing USD mil ... ... ...             -16,379 -37,549 -17,716 -17,974 -17,974    
Net Change In Cash USD mil ... ... ...             3,513 -415 7,276 -195 -195    
ratios                                
Days Sales Outstanding days ...                 28.0 34.9 26.3 26.7 28.3    
Days Sales Of Inventory days ...                 6.04 6.86 6.12 5.92 12.6    
Days Payable Outstanding days ...                 76.6 98.2 92.5 104 114    
Cash Conversion Cycle days ...                 -42.6 -56.5 -60.0 -71.0 -73.6    
Cash Earnings USD mil                   43,794 47,456 64,651 55,844 58,508    
Cash Earnings Per Share USD ...                 6.72 7.75 11.2 10.2 11.1    
Price/Cash Earnings (P/CE) ... ... ... ...           10.1 13.0 9.88 11.1 13.8    
Free Cash Flow USD mil ... ... ...             19,892 37,134 24,992 17,779 17,779    
Free Cash Flow Yield % ... ... ... ...           4.48 6.02 3.91 2.86 2.20    
other data Unit 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
other data                                
ROA % ...                 19.3 18.0 20.5 14.9 13.9    
Gross Margin %                   37.6 38.6 40.1 39.1 38.5    
Effective Tax Rate %                   26.2 26.1 26.4 25.6 24.6    
Enterprise Value (EV) USD mil ... ... ... ...           420,584 627,076 661,836 641,684 850,890    
EV/EBITDA ... ... ... ...           7.37 10.1 7.83 8.75 11.1    
EV/Capital Employed ... ... ... ...           3.33 4.11 3.58 3.28 3.78    
EV/Sales ... ... ... ...           2.46 3.43 2.83 2.98 3.71    
EV/EBIT ... ... ... ...           8.36 11.6 9.04 10.7 13.9    
Pre-Tax Profit From Abroad USD mil ... ... ... ... ... ... ... ... ... ... ... ... ... 30,684    
Revenues From Abroad USD mil ... ... ...             104,713 113,886 151,983 139,972 144,895    
Revenues From Abroad (As % Of Total) % ... ... ...             61.3 62.3 65.0 64.9 63.2    
Profit From Abroad (As % Of Total) % ... ... ... ... ... ... ... ... ... ... ... ... ... 50.0    
Capital Expenditures (As % of Sales) % ... ... ...             5.31 5.37 4.92 5.77 5.43    
Sales of iPhone USD mil                   91,279 101,991 155,041 136,700 139,337    
Sales of iPad USD mil                   31,980 30,283 23,227 20,628 18,802    
Sales of Mac USD mil                   21,483 24,079 25,471 22,831 25,569    
Sales of iPod USD mil                   4,411 2,286 0 0 0    
Sales Of Services USD mil                   16,051 18,063 19,909 24,348 32,700    
Sales of Other Products USD mil ... ... ...             5,706 6,093 10,067 11,132 12,826    
Sales of iPhone (As % of Total) %                   53.4 55.8 66.3 63.4 60.8    
Sales of iPad (As % of Total) %                   18.7 16.6 9.94 9.57 8.20    
Sales of Mac (As % of Total) %                   12.6 13.2 10.9 10.6 11.2    
Sales of Services (As % of Total) %                   9.39 9.88 8.52 11.3 14.3    
Sales of Other Products (As % of Total) % ... ... ...             3.34 3.33 4.31 5.16 5.60    
Sales in USA USD mil                   66,197 68,909 81,732 75,667 84,339    
Sales in China USD mil ... ... ...             25,946 30,638 58,715 48,492 44,764    
Sales in Other Countries USD mil ... ... ...             78,767 83,248 93,268 91,480 82,398    
Sales in USA (As % of Total) %                   38.7 37.7 35.0 35.1 36.8    
Sales in China (As % of Total) % ... ... ...             15.2 16.8 25.1 22.5 19.5    
Sales in Other Countries (As % of Total) % ... ... ...             46.1 45.5 39.9 42.4 35.9    
Number of iPhones Sold mil ... ... ...             150 169 231 212 217    
Number of iPads Sold mil ... ... ...             71.0 68.0 54.9 45.6 43.8    
Number of Macs Sold mil                   16.3 18.9 20.6 18.5 19.3    
Number of iPods Sold mil                   26.4 14.4 0 0 0    
Net Sales per iPhone Sold USD ... ... ...             607 603 671 645 643    
Net Sales per iPad Sold USD ... ... ... ... ... ...       450 445 423 452 430    
Net Sales per Mac Sold USD                   1,315 1,274 1,237 1,235 1,328    
Net Sales per iPod Sold USD                   167 159 ... ... ... ... ...

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Apple's Number of iPhones Sold fell 16.7% yoy to 184 mil in 2019

By Helgi Analytics - March 15, 2020

Apple Inc. reached total sales of USD 260,174 mil in 2019, up 8.14% when compared to the previous year. Historically, Company's revenues amounted to an all time high of CZK 16,612 mil in 2012 and an all time low of CZK 41.0 mil in 2000. Sales of iPhones reached USD 142,381 mi...

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Apple Inc. is a US-based multinational technology company that designs, develops, and sells consumer electronics, computer software, and online services. 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. Apple was founded by Steve Jobs, Steve Wozniak, and Ronald Wayne in April 1976 to develop and sell Wozniak's Apple I personal computer.

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