AppleCHIX:APCD 91 Pretax Margin % is 32.23% as of Mar. 2026, which is 11% above its 10-year median of 29.07. GuruFocus rates CHIX:APCD with a GF Score™ of 91/100 and a GF Value™ of €250.78 (Fairly Valued). The stock has 1 warning sign investors should review. Among 2,472 Hardware companies, Apple ranks better than 96.52% on this metric.
Pre-Tax margin is calculated as Pre-Tax Income divided by its Revenue. Apple's Pre-Tax Income for the
three
months ended in Mar. 2026 was €30,996 Mil. Apple's Revenue for the
three
months ended in Mar. 2026 was €96,174 Mil. Therefore, Apple's pretax margin for the quarter that ended in Mar. 2026 was 32.23%.
The historical rank and industry rank for Apple's Pretax Margin % or its related term are showing as below:
CHIX:APCd'
s Pretax Margin % Range Over the Past 10 Years
Min: 24.44 Med: 29.07 Max: 32.71
Current: 32.71
CHIX:APCd's Pretax Margin % is ranked better than 96.52% of 2472
companies
in the Hardware industry
Industry Median: 3.575
vs CHIX:APCd: 32.71
Apple (CHIX:APCd) Pretax Margin % Explanation
The pretax margin, as know as pretax profit margin, is widely used to measure the operating efficiency of a company before deducting taxes.
The pretax margin is sometimes preferred over the net margin as tax expenditures can make profitability comparisons between companies misleading.
It is a useful tool to compare companies operating in the same sector and less effective when comparing companies from other sectors as each industry generally has different operating expenses and sales patterns.
The long term trend of the pretax margin is a good indicator of the competitiveness and health of the business.
Apple Pretax Margin % Related Terms
Apple Pretax Margin % Historical Data
* Premium members only.
The historical data trend for Apple's Pretax Margin % 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.
CHIX:APCD vs SONO, VUZI, TBCH: Pretax Margin % Comparison
For the Consumer Electronics subindustry, Apple's Pretax Margin %, along with its competitors' market caps and Pretax Margin % data, can be viewed below:
* 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. Note that "N/A" values will not show up in the chart.
Apple Pretax Margin % vs Hardware Industry
For the Hardware industry and Technology sector, Apple's Pretax Margin % distribution charts can be found below:
* The bar in red indicates where Apple's Pretax Margin % falls into.
* 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 (CHIX:APCD) has a Pretax Margin % of 32.23% as of Mar. 2026. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Apple and its competitors. This is 11% above median its historical median of 29.07. Over the past decade, Apple's Pretax Margin % has ranged from 24.44 to 32.71. According to the industry distribution chart, Apple ranks #86 out of 2472 companies in the Hardware industry, placing it in the top 3.5%.
Is Apple's Pretax Margin % too high?
Apple's current Pretax Margin % of 32.23% is 11% above median its 10-year median of 29.07. Over the past 10 years, this metric has ranged from a low of 24.44 to a high of 32.71. The Hardware industry median Pretax Margin % is 3.58. Apple's value of 32.23% is 801.5% above this industry median. Based on the distribution chart, Apple ranks #86 out of 2472 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, Apple has a GF Score™ of 91/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Apple's Pretax Margin % compare to SONO and VUZI?
According to the Hardware industry distribution chart, Apple ranks #86 out of 2472 companies for Pretax Margin %. This places Apple in the top 4% of its industry — outperforming the majority of peers. The industry median Pretax Margin % is 3.58. Apple's value of 32.23% is 801.5% above this benchmark. Historically, Apple's own Pretax Margin % has ranged from 24.44 to 32.71 over the past decade. While the company's 10-year median is 29.07 vs. the industry median of 3.58, Apple has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Pretax Margin % for a Hardware company?
The median Pretax Margin % among Hardware companies is 3.58, based on 2,472 companies in the industry. Companies in the top quartile (top 25%) have a Pretax Margin % significantly above this median, while those in the bottom quartile fall well below. However, Pretax Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Apple's current Pretax Margin % of 32.23% is 801.5% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Pretax Margin % mean?
A high Pretax Margin % can signal that a stock is expensive relative to its fundamentals. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Apple and its competitors. For the Hardware industry, the median Pretax Margin % is 3.58 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Apple's current Pretax Margin % is 32.23%, which is 11% above median its own 10-year median of 29.07. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Apple stock overvalued right now?
Based on GuruFocus' analysis, Apple (CHIX:APCD) is currently considered Fairly Valued. The stock's GF Value™ is €250.78, compared to a current price of €259.15 — trading 3.3% above its estimated fair value. The current Pretax Margin % is 32.23%, which is 11% above median its 10-year median of 29.07 and 801.5% above the Hardware industry median of 3.58. Apple's overall GF Score™ is 91/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Pretax Margin % calculated?
Pretax Margin % is calculated from a company's financial statements. For Apple (CHIX:APCD), the current Pretax Margin % is 32.23% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Apple (CHIX:APCD) Overvalued in 2026?
Based on GuruFocus' analysis, Apple stock appears to be overvalued.
The current stock price of €259.15 is trading 3.3% above its estimated GF Value™ of €250.78.
GuruFocus considers Apple to be Fairly Valued.
Key valuation signals for CHIX:APCD:
Pretax Margin %: 32.23% (11% above median its 10-year median of 29.07)
GF Value™: €250.78 vs. price of €259.15 (3.3% above fair value)
Industry Position: 801.5% above the Hardware median (#86 of 2472)
No single metric tells the full story. See the CHIX:APCD stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Apple is among the largest companies in the world, with a broad portfolio of hardware and software products targeted at consumers and businesses. Apple's iPhone accounts for the majority of the firm's sales, and Apple's other products, such as the Mac, iPad, and Watch, are designed around the iPhone as the focal point of an expansive software ecosystem. Apple has progressively worked to add new applications, such as streaming video, subscription bundles, and augmented reality. The firm designs its own software and semiconductors and works with subcontractors such as Foxconn and TSMC to build its products and chips. Slightly less than half of Apple's sales come directly through its flagship stores, with the majority coming indirectly through partnerships and distribution.
91GF Score
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