Apple Inc (AAPL)
Return on total capital
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) (ttm) | US$ in thousands | 121,416,000 | 117,669,000 | 115,153,000 | 115,207,000 | 116,725,000 | 122,034,000 | 120,470,000 | 121,719,000 | 119,570,000 | 111,852,000 | 103,467,000 | 92,267,000 | 77,478,000 | 69,964,000 | 71,366,000 | 70,309,000 | 71,220,000 | 69,313,000 | 69,665,000 | 71,018,000 |
| Long-term debt | US$ in thousands | 95,088,000 | 95,281,000 | 98,071,000 | 97,041,000 | 99,627,000 | 98,959,000 | 94,700,000 | 103,323,000 | 106,629,000 | 109,106,000 | 105,752,000 | 108,642,000 | 99,281,000 | 98,667,000 | 94,048,000 | 89,086,000 | 93,078,000 | 91,807,000 | 84,936,000 | 90,201,000 |
| Total stockholders’ equity | US$ in thousands | 74,100,000 | 62,146,000 | 60,274,000 | 62,158,000 | 56,727,000 | 50,672,000 | 58,107,000 | 67,399,000 | 71,932,000 | 63,090,000 | 64,280,000 | 69,178,000 | 66,224,000 | 65,339,000 | 72,282,000 | 78,425,000 | 89,531,000 | 90,488,000 | 96,456,000 | 105,860,000 |
| Return on total capital | 71.76% | 74.75% | 72.72% | 72.37% | 74.65% | 81.56% | 78.84% | 71.30% | 66.96% | 64.96% | 60.85% | 51.89% | 46.81% | 42.66% | 42.91% | 41.97% | 39.00% | 38.02% | 38.41% | 36.22% |
December 31, 2023 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $121,416,000K ÷ ($95,088,000K + $74,100,000K)
= 71.76%
Apple Inc's return on total capital has shown a generally positive trend over the past few quarters, indicating efficient management of both debt and equity in generating profits. The return on total capital has ranged from 36.22% to 81.56% over the analyzed periods. In the most recent quarter, the return on total capital was 71.76%, reflective of the company's ability to generate $0.72 in profit for every $1 of total capital employed. This high return suggests that Apple is effectively utilizing its resources to generate shareholder value. Overall, the consistent high levels of return on total capital reflect Apple's strong financial performance and efficient capital allocation strategies.
Peer comparison
Dec 31, 2023