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Apple Inc  (NAS:AAPL) EBITDA: $74,688 Mil (TTM As of Jun. 2017)

Apple Inc's EBITDA for the three months ended in Jun. 2017 was $14,264 Mil. Its EBITDA for the trailing twelve months (TTM) ended in Jun. 2017 was $74,688 Mil.

During the past 12 months, the average EBITDA Growth Rate of Apple Inc was -2.50% per year. During the past 3 years, the average EBITDA Growth Rate was 8.70% per year. During the past 5 years, the average EBITDA Growth Rate was 14.40% per year. During the past 10 years, the average EBITDA Growth Rate was 41.40% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the EBITDA Growth Rate using EBITDA data.

During the past 13 years, the highest 3-Year average EBITDA Growth Rate of Apple Inc was 138.10% per year. The lowest was -49.20% per year. And the median was 19.70% per year.

Apple Inc's EBITDA per Share for the three months ended in Jun. 2017 was $2.73. Its EBITDA per share for the trailing twelve months (TTM) ended in Jun. 2017 was $14.07.

During the past 12 months, the average EBITDA per Share Growth Rate of Apple Inc was 2.60% per year. During the past 3 years, the average EBITDA per Share Growth Rate was 15.10% per year. During the past 5 years, the average EBITDA per Share Growth Rate was 18.90% per year. During the past 10 years, the average EBITDA per Share Growth Rate was 42.50% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the EBITDA per share growth rate using EBITDA per Share data.

During the past 13 years, the highest 3-Year average EBITDA per Share Growth Rate of Apple Inc was 124.10% per year. The lowest was -49.20% per year. And the median was 22.50% per year.


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

* Premium members only.

Apple Inc Annual Data

Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16
EBITDA Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 59,040.00 57,048.00 61,813.00 84,505.00 73,333.00

Apple Inc Quarterly Data

Sep12 Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17
EBITDA Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 13,404.00 15,186.00 27,692.00 17,546.00 14,264.00

Competitive Comparison
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap.

Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) is what the company earns before it expenses interest, taxes, depreciation and amortization.

Apple Inc's EBITDA for the fiscal year that ended in Sep. 2016 is calculated as

Apple Inc's EBITDA was directly provided by GuruFocus' data source Morningstar. For the fiscal year ended in Sep. 2016, Apple Inc's EBITDA was $73,333 Mil.

Apple Inc's EBITDA for the quarter that ended in Jun. 2017 is calculated as

Apple Inc's EBITDA was directly provided by GuruFocus' data source Morningstar. For the quarter ended in Jun. 2017, Apple Inc's EBITDA was $14,264 Mil.

EBITDA for the trailing twelve months (TTM) ended in Jun. 2017 was 15186 (Sep. 2016 ) + 27692 (Dec. 2016 ) + 17546 (Mar. 2017 ) + 14264 (Jun. 2017 ) = $74,688 Mil.

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

Sometimes companies may have already deducted Depreciation and Amortization from Gross Profit. In this case Depreciation and Amortization needs to be added back when calculating EBITDA.

Explanation

EBITDA is a cash flow measure that ignores changes in working capital. EBITDA minus Depreciation, and Amortization (DA) equals Operating Income. Operating Income is profit before interest and taxes. Of course, Interest and taxes need to be paid.

While depreciation and amortization expenses do not need to be paid in cash, assets - especially tangible assets - do need to be replaced over time. EBITDA is not a measure of profit in any sense. EBITDA is a measure of cash generation by a business where the uses of that cash may be more or less discretionary depending on the nature of the business.

The EBITDA of a TV station is largely discretionary. Owners may use much of the EBITDA generated by a TV station as they see fit. The EBITDA of a railroad is largely non-discretionary. Owners must use much of the EBITDA generated by a railroad to replace the physical assets of the railroad or the business will literally fall apart over time.

EBITDA can be thought of as the cash a business generates that is available to:

Add more inventory
Add more receivables
Replace property, plant, and equipment
Add more property, plant, and equipment
Pay interest
Pay taxes
And finally: pay owners

EBITDA is widely used in financial analysis because Depreciation and Amortization are not present day cash expenses.. Depreciation and amortization are the spreading out of the costs of assets over the time in which those assets provide benefits. Today's depreciation and amortization expenses relate to assets bought in the past. The assets being expensed may or may not need to be replaced in the future. And the cost to replace the assets may be more or less than it was in the past. For this reason, the depreciation and amortization expenses a company records in the present year may have no relationship to the actual cash costs needed to maintain its assets in future years.

A company's depreciation expense depends on both its expectations about the assets it owns and its choice of accounting methods. Two companies owning identical assets may have different depreciation expenses because they have different expectations about the useful lives of those assets and because they make different accounting choices.

Analysts use EBITDA to remove this element of personal choice from a company's accounting statements. The use of EBITDA is an attempt to make the results of different companies more comparable and uniform.


Be Aware

Although depreciation is not a cash cost it is a real business cost because the company has to pay for the fixed assets when they purchase them. Both Warren Buffett and Charlie Munger hate the idea of EDITDA because in this calculation, depreciation is not counted as an expense.

EBITDA over Revenue is a good metric for comparing the operating efficiencies between companies because EBITDA is less vulnerable to companies' accounting choices. For this reason, EBITDA is used in ranking the Predictability of Companies. Also price/EBITDA is sometimes used in valuations.


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