Apple Inc.

AAPL

220.10 (-4.32%) 9.51

3.31(T)

Information Technology

Technology Hardware Storage and Peripherals

Apple Inc. designs manufactures and markets smartphones personal computers tablets wearables and accessories worldwide. The company offers iPhone a line of smartphones; Mac a line of personal computers; iPad a line of multi-purpose tablets; and wearables home and accessories comprising AirPods Apple TV Apple Watch Beats products and HomePod. It also provides AppleCare support and cloud services; and operates various platforms including the App Store that allow customers to discover and download applications and digital content such as books music video games and podcasts as well as advertising services include third-party licensing arrangements and its own advertising platforms. In addition the company offers various subscription-based services such as Apple Arcade a game subscription service; Apple Fitness+ a personalized fitness service; Apple Music which offers users a curated listening experience with on-demand radio stations; Apple News+ a subscription news and magazine service; Apple TV+ which offers exclusive original content; Apple Card a co-branded credit card; and Apple Pay a cashless payment service as well as licenses its intellectual property. The company serves consumers and small and mid-sized businesses; and the education enterprise and government markets. It distributes third-party applications for its products through the App Store. The company also sells its products through its retail and online stores and direct sales force; and third-party cellular network carriers wholesalers retailers and resellers. Apple Inc. was founded in 1976 and is headquartered in Cupertino California.

Holdings:

Cost basis:

Apple Inc. (AAPL) price target and intrinsic value estimate

AAPL's fair price estimate is $219.5

This valuation is based on a fair P/E of 26.8 and EPS estimates of $8.20

The median analyst price target for AAPL is $250.0.

Analyst price targets range from $184.0 to $325.0

Is AAPL overvalued or undervalued?

AAPL is currently trading at $220.1

AAPL is overvalued by 0% using the pevaluation method.

AAPL is undervalued by 12% compared to median analyst price targets.

Do you agree with this valuation?

Valuation

PEvaluation

Low $164.6

Median $219.5

High $274.3

Fair P/E

Margin of safety

Analyst valuation

Low $184.0

Median $250.0

High $325.0

Strong Buy8

Buy24

Hold12

Sell1

Strong Sell2

Discounted cash-flow

TTM FCFFCF est.Growth FCFTerminal FCF

Discount rate:

10%

Terminal rate:

Growth phase length:

Growth phase rate:

10%

Economic moat: Very wide

Overview

Market data

Market cap:$3.31(T)

Enterprise value:$3.27(T)

Total Equity:$56.95(B)

Shares outstanding:15.04(B)

Div. yield:0.45%

P/S:8.64

P/E:36.02

P/FCF:30.57

P/B:58.38

EPS:$6.1

FCF per share:$7.2

Dividend per share:$1.0

Income (TTM)

Revenue$391.04(B)

Gross profit$180.68(B)

EBITDA$134.66(B)

Net income$93.74(B)

Gross margin46.2%

Net margin24.0%

Balance sheet

Total assets$364.98(B)

Total liabilities$308.03(B)

Cash & Short-term inv.$65.17(B)

Long-term debt$85.75(B)

Debt issued$3.96(B)

Debt repaid$-9.96(B)

Cash flow (TTM)

FCF$108.81(B)

CapEx$-9.45(B)

Dividends paid$-15.23(B)

Stock issued$0

Stock repurchased$-100.39(B)

Stock-based comp.$11.69(B)

Future Growth

Revenue

CAGR: 7.4%

FY+1$414.17(B)

FY+2$447.95(B)

FY+3$479.48(B)

FY+4$516.92(B)

FY+5$551.67(B)

Net Income

CAGR: 9.6%

FY+1$110.81(B)

FY+2$120.94(B)

FY+3$130.05(B)

FY+4$147.66(B)

FY+5$159.71(B)

EPS

CAGR: 14.3%

FY+1$7.40

FY+2$8.30

FY+3$9.36

FY+4$11.13

FY+5$12.61

FCF per share

CAGR: 12.2%

FY+1$8.40

FY+2$9.33

FY+3$10.58

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Historical Financials

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YearlyQuarterly

Income

RevenueNet IncomeCOGSGross ProfitTotal OpEx.R&DSG&AOperating IncomeInterest ExpenseInterest IncomePre-tax incomeIncome tax

Cash flow

FCFCFONet IncomeD&AStock-based Comp.CFFStock IssuedStock RepurchasedDebt IssuedDebt RepaidDividend PaidCFIAcquisitionsDivestituresCapital Expenditures

Balance sheet

Total AssetsTotal LiabilitiesCurrent assetsCash and EquivalentsShort-term investmentsInventoriesReceivablesNon-current assetsNet PP&EGoodwillCurrent liabilitiesAccounts payableNon-current liabilitiesLong-Term DebtTotal Equity

Shares outstanding

Shares (Basic)Shares (Diluted)

Per share data

EPS (Basic)EPS (Diluted)FCF/ShareDividend/ShareBook value/Share

Ratios

P/EP/FCFP/BP/SEV/EarningsEV/FCFDebt/EquityPayout ratio

Margins

Net Income MarginOperating MarginGross MarginEBITDA MarginFCF Margin

Returns

ROICROAROCEROE

Market Cap.