Apple Inc (AAPL)

Activity ratios

Short-term

Turnover ratios

	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019
Inventory turnover	32.45	37.97	37.39	36.42	37.76	32.97	32.62	36.06	50.27	44.90	44.41	40.57	35.71	43.66	41.45	40.30	46.66	47.47	55.49	45.10
Receivables turnover	5.90	8.91	9.23	7.66	6.24	9.73	—	7.09	6.42	9.11	8.44	5.76	7.05	10.18	9.79	4.98	7.27	8.47	8.66	6.63
Payables turnover	3.43	4.92	5.09	4.08	3.82	5.19	5.68	4.25	3.88	5.05	4.60	3.21	4.29	5.60	5.39	3.14	4.48	5.35	5.71	4.10
Working capital turnover	—	—	82.63	39.48	—	—	—	—	—	—	—	67.32	38.82	51.76	21.45	13.52	7.11	6.07	5.57	4.34

The Inventory turnover ratio for Apple Inc has been fluctuating over the past few quarters, ranging from 32.45 to 55.49. This suggests that Apple has been able to quickly sell and replace its inventory multiple times during the year, indicating efficient inventory management.

The Receivables turnover ratio has also varied, ranging from 4.98 to 10.18. This ratio indicates how quickly Apple collects on its accounts receivable. A higher ratio implies that Apple is efficient in collecting payments from its customers.

The Payables turnover ratio has shown fluctuations as well, ranging from 3.14 to 5.71. This ratio reflects how quickly Apple pays its suppliers. A higher ratio suggests that Apple is efficiently managing its payables.

The Working Capital turnover ratio has shown significant variability, ranging from 6.07 to 82.63. This ratio indicates how effectively Apple is using its working capital to generate sales revenue. A higher ratio suggests that Apple is efficiently utilizing its working capital to generate sales.

Overall, the activity ratios for Apple Inc show that the company is effectively managing its inventory, receivables, payables, and working capital to support its operations and generate revenue efficiently.

Average number of days

		Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019
Days of inventory on hand (DOH)	days	11.25	9.61	9.76	10.02	9.67	11.07	11.19	10.12	7.26	8.13	8.22	9.00	10.22	8.36	8.81	9.06	7.82	7.69	6.58	8.09
Days of sales outstanding (DSO)	days	61.83	40.97	39.56	47.66	58.53	37.53	—	51.46	56.82	40.07	43.23	63.41	51.77	35.85	37.29	73.26	50.20	43.10	42.16	55.02
Number of days of payables	days	106.45	74.18	71.66	89.49	95.59	70.34	64.22	85.96	94.12	72.33	79.31	113.87	85.07	65.23	67.70	116.28	81.48	68.28	63.96	89.12

The Days of Inventory on Hand (DOH) for Apple Inc have shown some fluctuations over time, ranging from 6.58 days to 11.25 days. Generally, the company has been able to manage its inventory efficiently, with lower DOH indicating that Apple is quickly converting its inventory into sales.

In terms of Days of Sales Outstanding (DSO), Apple Inc has experienced variability, ranging from 35.85 days to 73.26 days. A lower DSO suggests that Apple is collecting its accounts receivable more quickly, while a higher DSO could indicate potential issues with collecting sales revenue promptly.

The Number of Days of Payables for Apple has fluctuated between 63.96 days and 116.28 days. A higher number of days of payables may indicate that Apple is taking longer to pay its suppliers, potentially benefiting from an extended payable period.

Overall, Apple Inc's activity ratios suggest that the company has managed its inventory efficiently, collected sales revenue at varying speeds, and maintained flexibility in managing its payables. It is essential for investors and analysts to monitor these ratios over time to assess Apple's operational performance and financial health.

Long-term

	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019
Fixed asset turnover	8.56	8.64	8.72	8.79	8.70	8.75	8.81	8.95	9.29	9.54	9.75	9.57	9.21	8.94	8.55	7.70	7.41	7.61	7.40	7.16
Total asset turnover	1.07	1.16	1.13	1.09	1.08	1.14	1.15	1.11	1.11	1.14	1.09	0.99	1.03	1.05	0.96	0.82	0.84	0.86	0.83	0.78

The long-term activity ratios of Apple Inc, as indicated by the fixed asset turnover and total asset turnover ratios, demonstrate the company's efficiency in utilizing its assets to generate sales revenue.

The fixed asset turnover ratio has remained relatively stable over the past few quarters, ranging between 7.16 and 9.75. This indicates that Apple is effectively using its fixed assets, such as property, plant, and equipment, to generate sales. A higher fixed asset turnover ratio suggests that Apple is efficiently utilizing its fixed assets to generate sales revenue.

On the other hand, the total asset turnover ratio shows a fluctuating trend, varying between 0.78 and 1.16. This ratio measures how efficiently Apple is using all its assets to generate revenue. The trends indicate some inconsistency in the utilization of total assets to generate sales, with certain quarters showing higher efficiency than others.

Overall, the fixed asset turnover ratio suggests that Apple is efficiently using its fixed assets to generate sales revenue, while the total asset turnover ratio indicates that there may be some variability in the overall efficiency of asset utilization across quarters. Monitoring these ratios over time can provide insights into Apple's operational efficiency and asset management strategies.