Key Performance Metrics

  • The review of Net Profit Margin witnessed a surging trend. The Net Profit Margin improved from 21.24% in 2019 to 25.31% in 2023.
  • The average EBIT Margin for the period under analysis was 28.87%, with 2020 and 2022 performing the worst and best,
  • In the current year, Apple was able to cover its interest liabilities 29.92 times – compared to 2019 when it was 19.38times.
  • The Asset turnover stood at 1.12 times in 2023 from 0.76 in 2019, implying a low performance on Assets of the business in relation to revenue.


  • The revenue of Apple has fluctuated year on year. The revenue increased by 5.51% between 2019 and 2020 and a further 7.79% increase was recorded between 2021 and 2022. There also occurred a decrease of -2.80% between 2022 and 2023 (the current period).
  • Apple’s performance in profitability looks good as the return on capital employed also recorded good performance during the period of analysis.


  • The company’s result in liquidity looks fair, as the current ratio increased from 0.88:1 to 0.99:1 on the last year. Which implies that the company still does have enough assets to settle its current liabilities.

Capital Structure

  • Apple is both equity and debt financed.
  • The debt-to-equity (D/E) ratio has been increasing year on year. The gearing position of the company appears to be high as it stood at 141% in the current year.


Source: Apple Annual Report

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