Apple Inc.
Find Ratings ReportsAPPLE INC's gross profit margin for the first quarter of its fiscal year 2024 has increased when compared to the same period a year ago. The company has grown sales and net income during the past quarter when compared with the same quarter a year ago, however, it was unable to keep up with the growth of the average competitor within its subsector. APPLE INC has weak liquidity. Currently, the Quick Ratio is 0.92 which shows a lack of ability to cover short-term cash needs. The company's liquidity has increased from the same period last year, indicating improving cash flow.
At the same time, stockholders' equity ("net worth") has greatly increased by 30.62% from the same quarter last year. Overall, the key liquidity measurements indicate that the company is in a position in which financial difficulties could develop in the future.
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Income Statement | Q1 FY24 | Q1 FY23 |
---|---|---|
Net Sales ($mil) | 119575.0 | 117154.0 |
EBITDA ($mil) | 43221.0 | 38932.0 |
EBIT ($mil) | 40373.0 | 36016.0 |
Net Income ($mil) | 33916.0 | 29998.0 |
Balance Sheet | Q1 FY24 | Q1 FY23 |
---|---|---|
Cash & Equiv. ($mil) | 73100.0 | 51355.0 |
Total Assets ($mil) | 353514.0 | 346747.0 |
Total Debt ($mil) | 108040.0 | 111110.0 |
Equity ($mil) | 74100.0 | 56727.0 |
Profitability | Q1 FY24 | Q1 FY23 |
---|---|---|
Gross Profit Margin | 48.26 | 45.45 |
EBITDA Margin | 36.14 | 33.23 |
Operating Margin | 33.76 | 30.74 |
Sales Turnover | 1.09 | 1.12 |
Return on Assets | 28.54 | 27.44 |
Return on Equity | 136.18 | 167.77 |
Debt | Q1 FY24 | Q1 FY23 |
---|---|---|
Current Ratio | 1.07 | 0.94 |
Debt/Capital | 0.59 | 0.66 |
Interest Expense | 0.0 | 1003.0 |
Interest Coverage | 0.0 | 35.91 |
Share Data | Q1 FY24 | Q1 FY23 |
---|---|---|
Shares outstanding (mil) | 15460.22 | 15842.41 |
Div / share | 0.24 | 0.23 |
EPS | 2.18 | 1.88 |
Book value / share | 4.79 | 3.58 |
Institutional Own % | n/a | n/a |
Avg Daily Volume | 5.8018448E7 | 5.4951796E7 |
BUY. The current P/E ratio indicates a significant discount compared to an average of 53.34 for the Computer and Electronic Product Manufacturing subsector and a value on par with the S&P 500 average of 27.95. For additional comparison, its price-to-book ratio of 36.09 indicates a significant premium versus the S&P 500 average of 4.68 and a significant premium versus the subsector average of 23.59. The price-to-sales ratio is well above the S&P 500 average, but well below the subsector average. The valuation analysis reveals that, APPLE INC seems to be trading at a discount to investment alternatives.
Price/Earnings |
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Price/Cash Flow |
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AAPL 26.95 | Peers 53.34 | AAPL 22.94 | Peers 44.47 | |||||||||||||||||||||
Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations. AAPL is trading at a significant discount to its peers. |
Discount. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures. AAPL is trading at a significant discount to its peers. |
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Price/Projected Earnings |
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Price to Earnings/Growth |
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AAPL 24.07 | Peers 26.06 | AAPL 3.79 | Peers 1.95 | |||||||||||||||||||||
Average. An average price-to-projected earnings ratio can signify an subsector neutral stock price and average future growth expectations. AAPL is trading at a valuation on par with its peers. |
Premium. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples. AAPL trades at a significant premium to its peers. |
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Price/Book |
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Earnings Growth |
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AAPL 36.09 | Peers 23.59 | AAPL 8.99 | Peers 123.02 | |||||||||||||||||||||
Premium. A higher price-to-book ratio makes a stock less attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet. AAPL is trading at a significant premium to its peers. |
Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios. However, AAPL is expected to significantly trail its peers on the basis of its earnings growth rate. |
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Price/Sales |
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Sales Growth |
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AAPL 6.93 | Peers 14.13 | AAPL -0.48 | Peers 27.20 | |||||||||||||||||||||
Discount. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales. AAPL is trading at a significant discount to its subsector on this measurement. |
Lower. A sales growth rate that trails the subsector implies that a company is losing market share. AAPL significantly trails its peers on the basis of sales growth. |
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