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Apple (NAS:AAPL) Net Income

: $94,321 Mil (TTM As of Mar. 2023)
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Net Income is the net profit that a company earns after deducting all costs and losses including cost of goods, SGA, DDA, interest expenses, non-recurring items and tax. Apple's Net Income for the three months ended in Mar. 2023 was $24,160 Mil. Its Net Income for the trailing twelve months (TTM) ended in Mar. 2023 was $94,321 Mil.

Net Income is linked to the most popular Earnings per Share (Diluted) number. Apple's Earnings per Share (Diluted) for the three months ended in Mar. 2023 was $1.52.


Apple Net Income Historical Data

The historical data trend for Apple's Net Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Apple Annual Data
Trend Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22
Net Income
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 59,531.00 55,256.00 57,411.00 94,680.00 99,803.00

Apple Quarterly Data
Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23
Net Income 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 25,010.00 19,442.00 20,721.00 29,998.00 24,160.00

Apple Net Income Calculation

Net Income is the net profit that a company earns after deducting all costs and losses including cost of goods, SGA, DDA, interest expenses, non-recurring items and tax.

Net Income
= Revenue - Cost of Goods Sold - Selling, General, & Admin. Expense - Research & Development - Depreciation, Depletion and Amortization - Interest Expense - Non Operating Income (NRI) - Tax Expense + Others
= EBITDA - Depreciation, Depletion and Amortization - Interest Expense - Non Operating Income (NRI) - Tax Expense + Others
= Operating Income - Interest Expense - Non Operating Income (NRI) - Tax Expense + Others
= Pre-Tax Income - Tax Expense + Others

Apple's Net Income for the fiscal year that ended in Sep. 2022 is calculated as

Net Income(A: Sep. 2022 )
= Pre-Tax Income + Tax Provision + Net Income (Discontinued Operations) + Others
=119103+-19300+0+0
=99,803

Apple's Net Income for the quarter that ended in Mar. 2023 is calculated as

Net Income(Q: Mar. 2023 )
= Pre-Tax Income + Tax Provision + Net Income (Discontinued Operations) + Others
=28382+-4222+0+0
=24,160

Net Income for the trailing twelve months (TTM) ended in Mar. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $94,321 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Apple  (NAS:AAPL) Net Income Explanation

Net Income is the most widely cited number in reporting a company's profitability. It is linked to the most popular earnings-per-share (EPS) number through:

Apple's Earnings per Share (Diluted) (EPS) for the quarter that ended in Mar. 2023 is calculated as

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.

EPS is most useful for companies that have:

A predictable business
Consistent accounting methods
And few restructurings

The dividend paid to preferred stocks needs to be subtracted from the total net income in the calculation of EPS because common stock holders are not entitled to that part of the net income.


Be Aware

Warren Buffett looks for consistency and upward long term trend. Because of share repurchase it is possible for net earnings trend to differ from EPS trend. He preferred Net Income over EPS. The companies with durable competitive advantage companies report higher % net earnings to total revenues.

Important: If a company is showing net earnings history greater than 20% on total revenues, it is probably benefiting from a long term competitive advantage.

If net earnings is less than 10%, likely to be in a highly competitive business.


Apple Net Income Related Terms

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Apple (NAS:AAPL) Business Description

Apple logo
Address
One Apple Park Way, Cupertino, CA, USA, 95014
Apple designs a wide variety of consumer electronic devices, including smartphones (iPhone), tablets (iPad), PCs (Mac), smartwatches (Apple Watch), and AirPods. The iPhone makes up most of Apple's total revenue. In addition, Apple offers its customers a variety of services such as Apple Music, iCloud, Apple Care, Apple TV+, Apple Arcade, Apple Fitness, Apple Card, and Apple Pay, among others. Apple's products include internally developed software and semiconductors, and the firm is well known for its integration of hardware, software, semiconductors, and services. Apple's products are distributed online as well as through company-owned stores and third-party retailers. The company generates roughly 40% of its revenue from the Americas, with the remainder earned internationally.
Executives
Alex Gorsky director JOHNSON & JOHNSON, ONE JOHNSON & JOHNSON PLAZA, NEW BRUNSWICK NJ 08933
Monica C Lozano director
Deirdre O'brien officer: Senior Vice President ONE APPLE PARK WAY, CUPERTINO CA 95014
Robert A Iger director C/O WALT DISNEY CO, 500 S BUENA VISTA STREET, BURBANK CA 91521-1062
Andrea Jung director C/O APPLE INC, ONE APPLE PARK WAY, CUPERTINO CA 95014
Susan Wagner director C/O BLACKROCK, INC., 40 EAST 52ND STREET, NEW YORK NY 10022
James A Bell director C/O THE DOW CHEMICAL COMPANY, 2211 H.H. DOW WAY, MIDLAND MI 48674
Albert Jr Gore director C/O APPLE INC, 1 INFINITE LOOP, CUPERTINO CA 95014
Ronald D Sugar director 10877 WILSHIRE BLVD., SUITE 1650, LOS ANGELES CA 900274
Katherine L. Adams officer: SVP, General Counsel APPLE INC., 1 INFINITE LOOP, CUPERTINO CA 95014
Luca Maestri officer: Senior Vice President, CFO 1 INFINITE LOOP, CUPERTINO CA 95014
Angela J Ahrendts officer: Senior Vice President 1 INFINITE LOOP, CUPERTINO CA 95014
Jeffrey E Williams officer: COO ONE INFINITE LOOP, CUPERTINO CA 95014
Philip W Schiller officer: Senior Vice President C/O APPLE INC, ONE INFINITE LOOP, CUPERTINO CA 95014
Eduardo H Cue officer: Senior Vice President 1 INFINITE LOOP, CUPERTINO CA 95014

Apple (NAS:AAPL) Headlines