Apple Inc. (AAPL)
Income Statement
Consolidated Statement of Income
Apple Inc. (AAPL)
Three and Nine Months Ended (In millions, except shares in thousands and per share data)
| Jun 27, 2026 (Q3) | Jun 28, 2025 (Q3) | Jun 27, 2026 (YTD) | Jun 28, 2025 (YTD) | |
|---|---|---|---|---|
| Net sales | $109,417 | $94,036 | $364,357 | $313,695 |
| Products | $78,678 | $66,613 | $272,629 | $233,287 |
| Services | $30,739 | $27,423 | $91,728 | $80,408 |
| Cost of sales | $54,647 | $50,318 | $185,575 | $166,835 |
| Products | $47,153 | $43,620 | $163,810 | $147,097 |
| Services | $7,494 | $6,698 | $21,765 | $19,738 |
| Gross margin | $54,770 | $43,718 | $178,782 | $146,860 |
| Research and development | $11,729 | $8,866 | $34,035 | $25,684 |
| Selling, general and administrative | $7,346 | $6,650 | $22,315 | $20,553 |
| Total operating expenses | $19,075 | $15,516 | $56,350 | $46,237 |
| Operating income | $35,695 | $28,202 | $122,432 | $100,623 |
| Other income/(expense), net | $572 | $(171) | $670 | $(698) |
| Income before provision for income taxes | $36,267 | $28,031 | $123,102 | $99,925 |
| Provision for income taxes | $6,478 | $4,597 | $21,638 | $15,381 |
| Net income | $29,789 | $23,434 | $101,464 | $84,544 |
| Basic (in dollars per share) | 2.03 | 1.57 | 6.91 | 5.64 |
| Diluted (in dollars per share) | 2.02 | 1.57 | 6.88 | 5.62 |
| Basic (in shares) | 14,656,110 | 14,902,886 | 14,692,515 | 14,992,898 |
| Diluted (in shares) | 14,714,676 | 14,948,179 | 14,750,302 | 15,051,726 |
Balance Sheet
Consolidated Balance Sheets
Apple Inc. (AAPL)
As of June 27, 2026 and September 27, 2025 (In millions, except shares and per share data)
| Jun 27, 2026 | Sep 27, 2025 | |
|---|---|---|
| Cash and cash equivalents | $39,544 | $35,934 |
| Marketable securities | $22,855 | $18,763 |
| Accounts receivable, net | $31,398 | $39,777 |
| Vendor non-trade receivables | $27,509 | $33,180 |
| Inventories | $11,092 | $5,718 |
| Other current assets | $17,420 | $14,585 |
| Total current assets | $149,818 | $147,957 |
| Marketable securities | $84,118 | $77,723 |
| Property, plant and equipment, net | $51,431 | $49,834 |
| Intangible assets, net | $20,342 | $11,093 |
| Other non-current assets | $77,557 | $72,634 |
| Total non-current assets | $233,448 | $211,284 |
| Total assets | $383,266 | $359,241 |
| Accounts payable | $64,525 | $69,860 |
| Other current liabilities | $62,259 | $66,387 |
| Deferred revenue | $9,538 | $9,055 |
| Commercial paper | $1,997 | $7,979 |
| Commercial paper | $2,000 | $8,000 |
| Term debt | $11,007 | $12,350 |
| Total current liabilities | $149,326 | $165,631 |
| Term debt | $71,340 | $78,328 |
| Other non-current liabilities | $55,080 | $41,549 |
| Total non-current liabilities | $126,420 | $119,877 |
| Total liabilities | $275,746 | $285,508 |
| Commitments and contingencies | ||
| Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 14,608,963 and 14,773,260 shares issued and outstanding, respectively | $100,702 | $93,568 |
| Retained earnings/(Accumulated deficit) | $11,326 | $(14,264) |
| Accumulated other comprehensive loss | $(4,508) | $(5,571) |
| Total shareholders’ equity | $107,520 | $73,733 |
| Total liabilities and shareholders’ equity | $383,266 | $359,241 |
Cash Flow
Consolidated Statement of Cash Flows
Apple Inc. (AAPL)
Nine Months Ended (In millions, except shares and per share data)
| Jun 27, 2026 (YTD) | Jun 28, 2025 (YTD) | |
|---|---|---|
| Cash, cash equivalents, and restricted cash and cash equivalents, ending balances | ||
| Net income | $101,464 | $84,544 |
| Depreciation and amortization | $9,973 | $8,571 |
| Share-based compensation expense | $10,523 | $9,680 |
| Other | $(2,037) | $(1,748) |
| Accounts receivable, net | $8,316 | $5,685 |
| Vendor non-trade receivables | $5,671 | $13,555 |
| Inventories | $(5,461) | $1,223 |
| Other current and non-current assets | $(16,266) | $(6,116) |
| Accounts payable | $(5,203) | $(18,479) |
| Other current and non-current liabilities | $10,016 | $(15,161) |
| Cash generated by operating activities | $116,996 | $81,754 |
| Purchases of marketable securities | $(48,752) | $(17,591) |
| Proceeds from maturities of marketable securities | $26,504 | $35,036 |
| Proceeds from sales of marketable securities | $12,016 | $10,785 |
| Payments for acquisition of property, plant and equipment | $(6,799) | $(9,473) |
| Other | $(1,780) | $(975) |
| Cash generated by/(used in) investing activities | $(18,811) | $17,782 |
| Payments for taxes related to net share settlement of equity awards | $(6,462) | $(5,719) |
| Payments for dividends and dividend equivalents | $(11,778) | $(11,559) |
| Repurchases of common stock | $(62,094) | $(70,579) |
| Proceeds from issuance of term debt, net | $4,481 | |
| Repayments of term debt | $(8,146) | $(9,682) |
| Repayments of commercial paper, net | $(5,911) | $(65) |
| Other | $(184) | $(87) |
| Cash used in financing activities | $(94,575) | $(93,210) |
| Increase in cash, cash equivalents, and restricted cash and cash equivalents | $3,610 | $6,326 |
| Cash, cash equivalents, and restricted cash and cash equivalents, ending balances | ||
| Cash paid for income taxes, net | $26,555 | $37,332 |