Apple Inc (AAPL)
Operating return on assets (Operating ROA)
| 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 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating income (ttm) | US$ in thousands | 118,658,000 | 114,301,000 | 112,226,000 | 112,304,000 | 113,965,000 | 119,437,000 | 118,329,000 | 119,379,000 | 116,903,000 | 108,949,000 | 99,938,000 | 88,903,000 | 74,253,000 | 66,288,000 | 67,138,000 | 65,591,000 | 66,153,000 | 63,930,000 | 64,423,000 | 65,491,000 |
| Total assets | US$ in thousands | 353,514,000 | 352,583,000 | 335,038,000 | 332,160,000 | 346,747,000 | 352,755,000 | 336,309,000 | 350,662,000 | 381,191,000 | 351,002,000 | 329,840,000 | 337,158,000 | 354,054,000 | 323,888,000 | 317,344,000 | 320,400,000 | 340,618,000 | 338,516,000 | 322,239,000 | 341,998,000 |
| Operating ROA | 33.57% | 32.42% | 33.50% | 33.81% | 32.87% | 33.86% | 35.18% | 34.04% | 30.67% | 31.04% | 30.30% | 26.37% | 20.97% | 20.47% | 21.16% | 20.47% | 19.42% | 18.89% | 19.99% | 19.15% |
December 31, 2023 calculation
Operating ROA = Operating income (ttm) ÷ Total assets
= $118,658,000K ÷ $353,514,000K
= 33.57%
The operating return on assets (operating ROA) for Apple Inc has shown fluctuations over the periods provided in the table. The operating ROA has ranged between 18.89% to 35.18% with the highest value recorded in the second quarter of 2022.
Overall, the operating ROA has generally been healthy, consistently indicating that Apple Inc has been efficient in generating operating profits relative to its total assets. In recent quarters, the operating ROA has been relatively stable, hovering around the high 20s to low 30s percentage range, which suggests that Apple has been effectively utilizing its assets to generate operating income.
However, it is worth noting that there have been fluctuations in the operating ROA, with some quarters showing higher profitability levels than others. Analysts would be interested in understanding the factors driving these fluctuations and assessing whether they are sustainable or influenced by external factors. Monitoring the trend of operating ROA over time can provide valuable insights into Apple Inc's operational efficiency and profitability performance.
Peer comparison
Dec 31, 2023