--- title: "Apple Financial Metrics & KPI Guide" description: "Apple revenue, margins, cash flow and balance sheet figures by fiscal year, taken from its SEC filings, with the ratios computed and explained." canonical: https://www.getswoopr.com/stocks/companies/apple/metrics/ source: "Swoopr Investment: https://www.getswoopr.com" --- ## Direct Answer > This guide identifies the key financial and operating metrics for Apple (AAPL), covering iPhone, Services, Mac, iPad, and Wearables, explaining what each metric measures and how it connects to Apple's installed-base growth strategy, gross-margin mix shift toward higher-margin Services, and capital-return program. # Apple Financial Metrics & KPI Guide ## What Are Apple's Key Financial Figures? | Fiscal year | FY2025ended September 27, 2025 | FY2024ended September 28, 2024 | FY2023ended September 30, 2023 | FY2022ended September 24, 2022 | | --- | --- | --- | --- | --- | | Revenue | $416 billion | $391 billion | $383 billion | $394 billion | | Operating income | $133 billion | $123 billion | $114 billion | $119 billion | | Operating margin | 32.0% | 31.5% | 29.8% | 30.3% | | Net income | $112 billion | $93.7 billion | $97.0 billion | $99.8 billion | | Net margin | 26.9% | 24.0% | 25.3% | 25.3% | | Operating cash flow | $111 billion | $118 billion | $111 billion | $122 billion | | Capital expenditures | $12.7 billion | $9.4 billion | $11.0 billion | $10.7 billion | | Free cash flow | $98.8 billion | $109 billion | $99.6 billion | $111 billion | Operating margin held roughly steady between fiscal 2024 and 2025, which separates pricing and cost discipline from revenue growth alone. Free cash flow (operating cash flow minus capital expenditures) was $98.8 billion against net income of $112 billion; cash generation fell short of reported earnings, which is worth reconciling in the cash flow statement. ![Bar chart of Apple revenue, operating income, net income for fiscal 2022 to 2025. In fiscal 2025, revenue was $416 billion, operating income $133 billion and net income $112 billion.](https://www.getswoopr.com/images/charts/apple-metrics-revenue-profit.webp) *Apple revenue, operating income and net income by fiscal year, from the figures in the table above. Select the chart to open it full size.* ![Line chart of Apple operating margin and net margin for fiscal 2022 to 2025. In fiscal 2025, operating margin was 32.0% and net margin was 26.9%.](https://www.getswoopr.com/images/charts/apple-metrics-margins.webp) *Apple operating margin and net margin by fiscal year: operating income and net income as a share of revenue. Select the chart to open it full size.* ![Bar chart of Apple operating cash flow, capital expenditures, free cash flow for fiscal 2022 to 2025. In fiscal 2025, operating cash flow was $111 billion, capital expenditures was $12.7 billion, free cash flow was $98.8 billion.](https://www.getswoopr.com/images/charts/apple-metrics-cash-flow.webp) *Apple operating cash flow, capital expenditures and free cash flow by fiscal year. Select the chart to open it full size.* ## What Does Apple's Balance Sheet Show? | Cash and cash equivalents | $35.9 billion | | --- | --- | | Long-term debt | $78.3 billion | | Total assets | $359 billion | | Total liabilities | $286 billion | | Shareholders' equity | $73.7 billion | | Current ratio | 0.9x | Balance sheet values are as of the end of fiscal 2025. Income statement figures describe a whole year; balance sheet figures describe a single day, so the two answer different questions. ## Where These Numbers Come From Every figure on this page is a value Apple reported in its own SEC filings, read from the SEC's XBRL data (accession 0000320193-25-000079 for fiscal year 2025). Ratios are computed from those reported values. Figures were retrieved on October 7, 2026; a later amendment or a new annual report can change them, and the filing itself always takes precedence over this summary. Each fiscal year is labeled by the calendar year in which it ended, so a company that names the same period differently in its own filings (many retailers whose year ends in January) may use another label. A year is left out of the table when the SEC data set holds no value for it. A figure shown as "Not reported" means the company did not file a value under the standard tag Swoopr reads, not that the amount was zero. This page is educational and describes reported history only; it is not a forecast or a recommendation. ## Frequently Asked Questions ### What was Apple's revenue in fiscal 2025? Apple reported revenue of $416 billion for the fiscal year ended September 27, 2025, according to its SEC filings. ### What is Apple's operating margin? Apple's operating margin was 32.0% in fiscal 2025: operating income of $133 billion on revenue of $416 billion. ### How much free cash flow did Apple generate? Operating cash flow of $111 billion less capital expenditures of $12.7 billion gives free cash flow of $98.8 billion for fiscal 2025. ## References - [SEC EDGAR: Apple Inc. Form 10-K filed October 31, 2025](https://www.sec.gov/Archives/edgar/data/320193/000032019325000079/aapl-20250927.htm) - [SEC EDGAR: Apple Inc. annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=320193&type=10-K) - [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces) ## Related Pages - [Apple company dossier](https://www.getswoopr.com/stocks/companies/apple/) - [Apple financial metrics](https://www.getswoopr.com/stocks/companies/apple/metrics/) - [Apple financial risk indicators](https://www.getswoopr.com/stocks/companies/apple/risks/) - [Apple peer comparison](https://www.getswoopr.com/stocks/companies/apple/competitors/) - [Apple business model and revenue mix](https://www.getswoopr.com/stocks/companies/apple/business-model/) - [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/) **[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)** Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. We do not provide personalized financial advice. See our [editorial policy](https://www.getswoopr.com/legal/editorial-policy/) and [corrections policy](https://www.getswoopr.com/legal/corrections-policy/).