Apple Inc. (AAPL)财务
NASDAQ · Technology · Consumer Electronics · 员工166,000人 · CEO John Ternus
- 股价
- $344.63 -1.23%
- 市值
- $5.03万亿
- 企业价值
- $5.07万亿
- 最近财报
- Q3 '26 2026-07-31提交
- 下次财报
- 2026-11-02 EPS预期 $1.99
营收(TTM)$4670亿+14.2% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)33.2%+1.3 百分点 对比去年同期营业利润 $1550亿
净利润(TTM)$1290亿+29.9% 对比去年同期税后,含营业外收益
自由现金流(TTM)$1370亿+42.1% 对比去年同期资本支出 $100亿
稀释EPS(TTM)$8.72+32.3% 对比去年同期最近4个季度之和
净现金-$219亿+52.7% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $5.03万亿 EV $5.07万亿
- 营收
- $4670亿 过去12个月
- 营收增速
- +15% FY2026年一致预期
- 净利润率
- 27.6% 净利润 / 营收,TTM
- P/E
- 39.4× 预期 39.0×(FY2026)
- P/S
- 10.8× 股价 / 营收,TTM
- EV / EBITDA
- 30.0× TTM
- 自由现金流
- $1370亿 过去12个月
- 净利润
- $1290亿 过去12个月
- 营收预期
- $4780亿 FY2026年一致预期
- 盈利
- 2026-11-02 营收预期 $1130亿
- 股息
- $1.06 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-07-30):营收符合预期,EPS 超预期6.9%营收$1090亿,预期$1090亿(+0.3%);EPS $2.02,预期$1.89(+6.9%)。
- 营收增长加速:同比16.4%Q3 '26营收$1090亿,此前四个季度的平均值为12.5%。
- 营业利润率33.2%(TTM),较去年同期+1.3 百分点营收增长14.2%,营业利润增长18.9%。
- 资本支出占营收的2.2%(去年为3.0%)最近4个季度投入$100亿(同比-18.9%)。自由现金流$1370亿,相当于净利润的106.0%。
- 股东回报$979亿 = 自由现金流的71.6%回购$822亿(去年为$957亿),股息$156亿,股权激励$137亿(TTM)。
- 稀释股数一年内减少1.6%Q3 '26稀释股数147亿,一年前为149亿。
- 净债务 $219亿现金 + 短期投资 $624亿,含租赁债务 $843亿;一年前净债务 $463亿。
上一季度:Q3 '26
截至2026-06-27的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $1090亿 | $940亿 | +16.4% |
| 毛利率 | 50.1% | 46.5% | +3.6 百分点 |
| 营业利润 | $357亿 | $282亿 | +26.6% |
| 营业利润率 | 32.6% | 30.0% | +2.6 百分点 |
| 净利润 | $298亿 | $234亿 | +27.1% |
| 稀释EPS | $2.02 | $1.57 | +28.7% |
| 经营现金流 | $344亿 | $279亿 | +23.3% |
| 资本支出 | $24.6亿 | $34.6亿 | -29.1% |
| 自由现金流 | $319亿 | $244亿 | +30.8% |
| R&D | $117亿 | $88.7亿 | +32.3% |
| 股权激励费用 | $34亿 | $31.7亿 | +7.4% |
实际 vs 一致预期
2026-07-30| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $1090亿 | $1090亿 | +0.3% |
| EPS(一致预期口径) | $2.02 | $1.89 | +6.9% |
来自2026-07-30发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| iPhone | $543亿 | +21.7% | 49.6% | $2460亿 | +18.7% | |
| Service | $307亿 | +12.1% | 28.1% | $1200亿 | +14.3% | |
| Wearables, Home and Accessories | $78.8亿 | +6.5% | 7.2% | $363亿 | +1.6% | |
| Mac | $104亿 | +28.7% | 9.5% | $359亿 | +9.6% | |
| iPad | $61.9亿 | -5.9% | 5.7% | $287亿 | +2.3% |
按地区划分的营收
占总额比例| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Americas Segment | $458亿 | +11.1% | 41.8% | $1940亿 | +10.1% | |
| Europe Segment | $294亿 | +22.4% | 26.9% | $1240亿 | +15.9% | |
| Greater China Segment | $188亿 | +22.4% | 17.2% | $793亿 | +22.2% | |
| Rest of Asia Pacific Segment | $88.7亿 | +15.6% | 8.1% | $386亿 | +18.2% | |
| Japan Segment | $65.5亿 | +13.4% | 6.0% | $310亿 | +10.8% |
分部利润
取自每份10-Q / 10-K分部附注的各披露分部营业利润(多数数据源缺少的利润拆分)。
Q3 '26分部
| 分部 | 营收 | 同比 | 营业利润 | 同比 | 利润率 | 去年同期利润率 | TTM营业利润 |
|---|---|---|---|---|---|---|---|
| Americas Segment | – | – | $217亿 | +31.4% | – | 40.1% | $827亿 |
| Europe Segment | – | – | $134亿 | +28.0% | – | 43.7% | $566亿 |
| Greater China Segment | – | – | $74.1亿 | +27.2% | – | 37.9% | $347亿 |
| Japan Segment | – | – | $30亿 | +4.6% | – | 49.7% | $148亿 |
| Rest Of Asia Pacific Segment | – | – | $41.8亿 | +29.0% | – | 42.3% | $178亿 |
| Corporate (unallocated) | – | – | -$140亿 | -30.7% | – | – | -$517亿 |
各分部营业利润
季度各分部营业利润率
季度第四季度为推算值:10-K披露全年数据,减去10-Q的前三个季度。
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $1470亿
- 资本支出
- -$100亿
- 股票回购
- -$822亿
- 股息
- -$156亿
- 收购
- $0
- 债务净发行
- -$173亿
- 股权激励费用
- $137亿
- 自由现金流
- $1370亿
- 股东回报 / FCF
- 71.6%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 39.4× | 29.9× | 24.5× – 37.3× |
| EV / EBITDA | 30.0× | 23.0× | 19.1× – 27.0× |
| EV / 营收 | 10.9× | 7.9× | 6.5× – 9.4× |
| 股价 / FCF | 36.8× | 29.2× | 21.9× – 38.7× |
| 股价 / 净资产 | 47.0× | 48.7× | 38.9× – 61.4× |
| FCF收益率 | 2.7% | 3.6% | 2.6% – 4.6% |
| 投入资本回报率 | 51.9% | 44.8% | 38.9% – 52.0% |
| 净资产收益率 | 137.2% | 163.9% | 150.1% – 197.0% |
分析师
一致目标价 $340.88 (-1.1%)
区间 $245.00 – $400.00 · 评级 Buy
强烈买入1
买入69
持有33
卖出9
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $4780亿 | +14.8% | $8.84 | +18.5% | 39.0× | 29 |
| FY2027 | $5220亿 | +9.3% | $9.56 | +8.1% | 36.1× | 30 |
| FY2028 | $5610亿 | +7.5% | $10.60 | +11.0% | 32.5× | 21 |
| FY2029 | $6050亿 | +7.7% | $11.92 | +12.4% | 28.9× | 2 |
| FY2030 | $6150亿 | +1.6% | $12.11 | +1.6% | 28.5× | 1 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Apple Inc.在近期10-Q / 10-K文件中标记的全部193项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $645亿 | $504亿 | +28.1% | $699亿 | $690亿 | +1.3% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $314亿 | $276亿 | +13.9% | $398亿 | $334亿 | +19.1% |
| Accrued Income Taxes, Current | $130亿2025-09-27 | $266亿 | -51.1% | $130亿 | $266亿 | -51.1% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $767亿 | $758亿 | +1.2% | $760亿 | $734亿 | +3.5% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$45.1亿 | -$63.7亿 | +29.2% | -$55.7亿 | -$71.7亿 | +22.3% |
| Assets | $3830亿 | $3310亿 | +15.6% | $3590亿 | $3650亿 | -1.6% |
| Assets, Current | $1500亿 | $1220亿 | +22.3% | $1480亿 | $1530亿 | -3.3% |
| Assets, Noncurrent | $2330亿 | $2090亿 | +11.7% | $2110亿 | $2120亿 | -0.3% |
| Cash and Cash Equivalents, at Carrying Value | $395亿 | $363亿 | +9.0% | $359亿 | $299亿 | +20.0% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $395亿 | $363亿 | +9.0% | $359亿 | $299亿 | +20.0% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$60.3亿 | $81.1亿 | -174.4% | $59.9亿 | -$7.94亿 | +854.5% |
| Commercial Paper | $20亿 | $99.2亿 | -79.9% | $79.8亿 | $99.7亿 | -19.9% |
| Common Stock, Dividends, Per Share, Declared | $0.27 | $0.26 | +3.8% | $1.02 | $0.98 | +4.1% |
| Common Stock, Par or Stated Value Per Share | $0.00 | $0.00 | 0.0% | $0.00 | $0.00 | 0.0% |
| Common Stock, Shares Authorized | 504亿 | 504亿 | 0.0% | 504亿 | 504亿 | 0.0% |
| Common Stock, Shares, Issued | 146亿 | 149亿 | -1.7% | 148亿 | 151亿 | -2.3% |
| Common Stock, Shares, Outstanding | 146亿 | 149亿 | -1.7% | 148亿 | 151亿 | -2.3% |
| Common Stocks, Including Additional Paid in Capital | $1010亿 | $898亿 | +12.1% | $936亿 | $833亿 | +12.4% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $307亿 | $234亿 | +30.9% | $1140亿 | $980亿 | +15.9% |
| Contract with Customer, Liability | $149亿 | $136亿 | +9.6% | $137亿 | $128亿 | +7.0% |
| Contract with Customer, Liability, Current | $95.4亿 | $89.8亿 | +6.2% | $90.6亿 | $82.5亿 | +9.8% |
| Contract with Customer, Liability, Revenue Recognized | $40.9亿 | $40.2亿 | +1.8% | $82.3亿 | $77.3亿 | +6.5% |
| Cost of Goods and Services Sold | $546亿 | $503亿 | +8.6% | $2210亿 | $2100亿 | +5.0% |
| Current Federal Tax Expense (Benefit) | – | – | – | $115亿 | $55.7亿 | +106.2% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $88.9亿 | $255亿 | -65.1% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $16.8亿 | $17.3亿 | -2.7% |
| Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | $3.09亿2025-09-27 | $3.21亿 | -3.7% | $3.09亿 | $3.21亿 | -3.7% |
| Decrease in Unrecognized Tax Benefits is Reasonably Possible | $60亿2025-09-27 | – | – | $60亿 | – | – |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | -$18亿 | -$30.8亿 | +41.4% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $6.04亿 | $3.47亿 | +74.1% |
| Deferred Income Tax Assets, Net | $208亿2025-09-27 | $195亿 | +6.6% | $208亿 | $195亿 | +6.6% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | -$1.39亿 | -$2.98亿 | +53.4% |
| Deferred Tax Assets, Deferred Income | $29.5亿2025-09-27 | $34.1亿 | -13.5% | $29.5亿 | $34.1亿 | -13.5% |
| Deferred Tax Assets, Gross | $384亿2025-09-27 | $349亿 | +10.2% | $384亿 | $349亿 | +10.2% |
| Deferred Tax Assets, Net | $200亿2025-09-27 | $192亿 | +4.1% | $200亿 | $192亿 | +4.1% |
| Deferred Tax Assets, Net of Valuation Allowance | $275亿2025-09-27 | $260亿 | +5.6% | $275亿 | $260亿 | +5.6% |
| Deferred Tax Assets, Other | $30.5亿2025-09-27 | $33.4亿 | -8.7% | $30.5亿 | $33.4亿 | -8.7% |
| Deferred Tax Assets, Tax Credit Carryforwards | $86.4亿2025-09-27 | $88.6亿 | -2.4% | $86.4亿 | $88.6亿 | -2.4% |
| Deferred Tax Assets, Tax Credit Carryforwards, Foreign | $47亿2025-09-27 | $51亿 | -7.8% | $47亿 | $51亿 | -7.8% |
| Deferred Tax Assets, Tax Credit Carryforwards, Research | $40亿2025-09-27 | $36亿 | +11.1% | $40亿 | $36亿 | +11.1% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals | $61.5亿2025-09-27 | $61.1亿 | +0.7% | $61.5亿 | $61.1亿 | +0.7% |
| Deferred Tax Assets, Valuation Allowance | $110亿2025-09-27 | $88.7亿 | +23.7% | $110亿 | $88.7亿 | +23.7% |
| Deferred Tax Liabilities, Gross | $74.7亿2025-09-27 | $68.1亿 | +9.8% | $74.7亿 | $68.1亿 | +9.8% |
| Deferred Tax Liabilities, Leasing Arrangements | $23亿2025-09-27 | $21.3亿 | +8.2% | $23亿 | $21.3亿 | +8.2% |
| Deferred Tax Liabilities, Other | $6.78亿2025-09-27 | $4.55亿 | +49.0% | $6.78亿 | $4.55亿 | +49.0% |
| Deferred Tax Liabilities, Property, Plant and Equipment | $32.8亿2025-09-27 | $25.5亿 | +28.4% | $32.8亿 | $25.5亿 | +28.4% |
| Depreciation | – | – | – | $80亿 | $82亿 | -2.4% |
| Depreciation, Depletion and Amortization | $33.2亿 | $28.3亿 | +17.3% | $117亿 | $114亿 | +2.2% |
| Earnings Per Share, Basic | $2.03 | $1.57 | +29.3% | $7.49 | $6.11 | +22.6% |
| Earnings Per Share, Diluted | $2.02 | $1.57 | +28.7% | $7.46 | $6.08 | +22.7% |
| Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount | – | – | – | $279亿 | $259亿 | +7.5% |
| Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | – | – | – | 21.0% | 21.0% | 0.0% |
| Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | – | – | – | $20.9亿 | $0 | – |
| Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount | – | – | – | -$81.2亿 | -$53.1亿 | -52.9% |
| Effective Income Tax Rate Reconciliation, Other Adjustments, Amount | – | – | – | $4.1亿 | $2.79亿 | +47.0% |
| Effective Income Tax Rate Reconciliation, Percent | – | – | – | 15.6% | 24.1% | -35.3% |
| Effective Income Tax Rate Reconciliation, Tax Credit, Research, Amount | – | – | – | $10.5亿 | $14亿 | -24.9% |
| Federal Income Tax Expense (Benefit), Continuing Operations | – | – | – | $96.8亿 | $24.9亿 | +288.7% |
| Finance Lease, Liability | $12.3亿2025-09-27 | $8.96亿 | +37.3% | $12.3亿 | $8.96亿 | +37.3% |
| Finance Lease, Liability, Current | $5.38亿2025-09-27 | $1.44亿 | +273.6% | $5.38亿 | $1.44亿 | +273.6% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-06-27, 10-Q 2026-03-28, 10-Q 2025-12-27, 10-K 2025-09-27, 10-Q 2025-06-28, 10-Q 2025-03-29, 10-Q 2024-12-28, 10-K 2024-09-28, 10-Q 2024-06-29
数据截至 2026-11-01