Apple Inc. · SEC companyfacts annual dashboard
Apple Financial Dashboard
Fiscal-year view of revenue and margin trends, capital allocation, and balance-sheet evolution using annual 10-K companyfacts series from FY2015 through FY2025.
FY2025 Revenue
$416.2B
+6.4% vs FY2024
Record top line after a modest FY2023 dip.
Gross Margin
46.9%
+0.7 pts vs FY2024
Highest level in the FY2015–FY2025 window.
Capital Returned
$106.1B
95.2% of operating cash flow
Buybacks remained the dominant cash return tool.
Net Cash Position
$41.1B
-$18.2B vs FY2024
Liquidity still exceeded debt at year end.
What stands out
Three patterns define Apple’s annual financial profile across the last decade.
- Revenue rose from $233.7B in FY2015 to $416.2B in FY2025, while gross margin expanded from 40.1% to 46.9% and net margin finished at 26.9%.
- R&D scaled from $8.1B to $34.6B, but buybacks remained the largest recurring allocation of cash, keeping total capital returns near operating cash generation.
- Assets stayed broadly stable above $320B, liabilities continued to dominate the capital structure, and Apple still ended FY2025 with a positive net cash buffer.
All chart values are shown in USD billions except margin and ratio lines.
FY2025 snapshot
Selected annual figures for the fiscal year ended Sep 27, 2025.
| Metric | Value |
|---|---|
| Revenue | $416.2B |
| Gross profit | $195.2B |
| Net income | $112.0B |
| Operating cash flow | $111.5B |
| R&D expense | $34.6B |
| Share repurchases | $90.7B |
| Dividends | $15.4B |
| Total assets | $359.2B |
| Total liabilities | $285.5B |
| Stockholders’ equity | $73.7B |
Source file: SEC companyfacts JSON for Apple Inc.; annual series filtered to fiscal-year 10-K observations.
Revenue and margin trend
Revenue scaled higher over the decade while gross and net margin both stepped up after FY2020.
Profit engine: gross profit, net income, and operating cash flow
Gross profit and cash generation widened materially, with operating cash flow consistently supporting shareholder returns.
Capital allocation mix
R&D and capex expanded, but buybacks remained the largest recurring use of annual cash.
Capital returns versus operating cash flow
The stacked bars show dividends plus buybacks; the dashed line tracks operating cash flow and the purple line shows return intensity.
Balance-sheet structure
Liabilities and equity stack up to total assets, while the equity ratio line shows how thin the equity cushion became before rebounding modestly.
Liquidity resources and debt
Cash plus marketable securities still exceed debt, but the net cash cushion has narrowed from earlier highs.