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Apple Return-on-Tangible-Asset

: 33.93% (As of Dec. 2020)
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Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Apple's annualized Net Income for the quarter that ended in Dec. 2020 was $115,020 Mil. Apple's average total tangible assets for the quarter that ended in Dec. 2020 was $338,971 Mil. Therefore, Apple's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2020 was 33.93%.

NAS:AAPL' s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 14.05   Med: 17.98   Max: 29.53
Current: 19.3
14.05
29.53

During the past 13 years, Apple's highest Return-on-Tangible-Asset was 29.53%. The lowest was 14.05%. And the median was 17.98%.

NAS:AAPL's Return-on-Tangible-Asset is ranked higher than
97% of the 2356 Companies
in the Hardware industry.

( Industry Median: 2.75 vs. NAS:AAPL: 19.30 )

Apple Return-on-Tangible-Asset Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are indicated in the company's associated stock exchange currency.

* Premium members only.

Apple Annual Data
Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 Sep20
Return-on-Tangible-Asset Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 15.37 14.05 16.07 15.69 17.33

Apple Quarterly Data
Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20
Return-on-Tangible-Asset 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 26.19 13.61 14.12 15.81 33.93
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.

Apple Return-on-Tangible-Asset Distribution

* The bar in red indicates where Apple's Return-on-Tangible-Asset falls into.


Apple Return-on-Tangible-Asset Calculation

Apple's annualized Return-on-Tangible-Asset for the fiscal year that ended in Sep. 2020 is calculated as:

Return-on-Tangible-Asset=Net Income/( (Total Tangible Assets+Total Tangible Assets)/ count )
(A: Sep. 2020 )  (A: Sep. 2019 )(A: Sep. 2020 )
=Net Income/( (Total Assets - Intangible Assets+Total Assets - Intangible Assets)/ count )
(A: Sep. 2020 )  (A: Sep. 2019 )(A: Sep. 2020 )
=57411/( (338516+323888)/ 2 )
=57411/331202
=17.33 %

Apple's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2020 is calculated as:

Return-on-Tangible-Asset=Net Income/( (Total Tangible Assets+Total Tangible Assets)/ count )
(Q: Dec. 2020 )  (Q: Sep. 2020 )(Q: Dec. 2020 )
=Net Income/( (Total Assets - Intangible Assets+Total Assets - Intangible Assets)/ count )
(Q: Dec. 2020 )  (Q: Sep. 2020 )(Q: Dec. 2020 )
=115020/( (323888+354054)/ 2 )
=115020/338971
=33.93 %

* All numbers are in millions except for per share data and ratio. All numbers are indicated in the company's associated stock exchange currency.

In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data, the Net Income data used here is four times the quarterly (Dec. 2020) net income data.

Apple  (NAS:AAPL) Return-on-Tangible-Asset Explanation

Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.

Be Aware

Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the company’s earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a company’s tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).

Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.

Apple Return-on-Tangible-Asset Related Terms

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