Apple ROCE %

: 44.29% (As of Jun. 2022)

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ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Apple's annualized ROCE % for the quarter that ended in Jun. 2022 was 44.29%.

Apple ROCE % Historical Data

The historical data trend for Apple's ROCE % 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

Sep12

Sep13

Sep14

Sep15

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

ROCE %

25.68

29.05

28.73

31.01

50.38

Apple Quarterly Data
	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22
ROCE %																44.22	42.75	73.07	54.00	44.29

Apple ROCE % Calculation

Apple's annualized ROCE % for the fiscal year that ended in Sep. 2021 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Sep. 2021 )		(A: Sep. 2020 )		(A: Sep. 2021 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Sep. 2021 )		(A: Sep. 2020 )		(A: Sep. 2021 )
	=	111852	/	( ( (323888 - 105392)	+	(351002 - 125481) )	/ 2 )
	=	111852	/	( (218496	+	225521)	/ 2 )
	=	111852	/	222008.5
	=	50.38 %

Apple's ROCE % of for the quarter that ended in Jun. 2022 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Jun. 2022 )		(Q: Mar. 2022 )		(Q: Jun. 2022 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Jun. 2022 )		(Q: Mar. 2022 )		(Q: Jun. 2022 )
	=	95140	/	( ( (350662 - 127508)	+	(336309 - 129873) )	/ 2 )
	=	95140	/	( ( 223154	+	206436 )	/ 2 )
	=	95140	/	214795
	=	44.29 %

(1) Note: The EBIT data used here is four times the quarterly (Jun. 2022) EBIT data.

Apple (NAS:AAPL) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

Apple ROCE % Related Terms

Thank you for viewing the detailed overview of Apple's ROCE % provided by GuruFocus.com. Please click on the following links to see related term pages.

Apple Business Description

Industry

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Address

One Apple Park Way, Cupertino, CA, USA, 95014

Website

https://www.apple.com

Apple designs a wide variety of consumer electronic devices, including smartphones (iPhone), tablets (iPad), PCs (Mac), smartwatches (Apple Watch), AirPods, and TV boxes (Apple TV), among others. The iPhone makes up the majority 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 Card, and Apple Pay, among others. Apple's products run internally developed software and semiconductors, and the firm is well known for its integration of hardware, software 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

Gorsky Alex	director	JOHNSON & JOHNSON ONE JOHNSON & JOHNSON PLAZA NEW BRUNSWICK NJ 08933
Lozano Monica C	director
O'brien Deirdre	officer: Senior Vice President	ONE APPLE PARK WAY CUPERTINO CA 95014
Iger Robert A	director	C/O WALT DISNEY CO 500 S BUENA VISTA STREET BURBANK CA 91521-1062
Jung Andrea	director	C/O APPLE INC ONE APPLE PARK WAY CUPERTINO CA 95014
Wagner Susan	director	C/O BLACKROCK, INC. 40 EAST 52ND STREET NEW YORK NY 10022
Bell James A	director	C/O THE DOW CHEMICAL COMPANY 2211 H.H. DOW WAY MIDLAND MI 48674
Gore Albert Jr	director	C/O APPLE INC 1 INFINITE LOOP CUPERTINO CA 95014
Sugar Ronald D	director	10877 WILSHIRE BLVD. SUITE 1650 LOS ANGELES CA 900274
Adams Katherine L.	officer: SVP, General Counsel	APPLE INC. 1 INFINITE LOOP CUPERTINO CA 95014
Maestri Luca	officer: Senior Vice President, CFO	1 INFINITE LOOP CUPERTINO CA 95014
Ahrendts Angela J	officer: Senior Vice President	1 INFINITE LOOP CUPERTINO CA 95014
Williams Jeffrey E	officer: COO	ONE INFINITE LOOP CUPERTINO CA 95014
Schiller Philip W	officer: Senior Vice President	C/O APPLE INC ONE INFINITE LOOP CUPERTINO CA 95014
Cue Eduardo H	officer: Senior Vice President	1 INFINITE LOOP CUPERTINO CA 95014

Apple Headlines

From GuruFocus

Apple ROCE %

Apple ROCE % Historical Data

Apple ROCE % Calculation

Apple ROCE % Related Terms

Apple Business Description

Apple Headlines

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