Apple (AAPL) FY2011 results: revenue $108.2 billion, up 66.0% on the year
Apple Inc. (AAPL) reported revenue of $108.2 billion for fiscal 2011, the year ended 24 September 2011, up 66.0% on the year before. Net income was $25.9 billion, up 85.0%, and diluted earnings per share $0.99. The figures are the company's own, from the 10-K it filed with the SEC on 26 October 2011.
Revenue
$108.2 billion
+66.0% on the year
FY2007FY2011
Operating margin
31.2%
28.2% a year earlier
FY2007FY2011
Net income
$25.9 billion
+85.0% on the year
FY2007FY2011
Diluted EPS
$0.99
+82.7% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
108,249
65,225
42,905
+66.0%
Cost of revenue
64,431
39,541
25,683
+62.9%
Gross profit
43,818
25,684
17,222
+70.6%
Gross margin
40.5%
39.4%
40.1%
Research and development
2,429
1,782
1,333
+36.3%
Selling, general and administrative
7,599
5,517
4,149
+37.7%
Operating income
33,790
18,385
11,740
+83.8%
Operating margin
31.2%
28.2%
27.4%
Interest expense
0.0
n/a
n/a
Pre-tax income
34,205
18,540
12,066
+84.5%
Income tax
8,283
4,527
3,831
+83.0%
Effective tax rate
24.2%
24.4%
31.8%
Net income
25,922
14,013
8,235
+85.0%
Net margin
23.9%
21.5%
19.2%
Diluted EPS
$0.99
$0.54
$0.32
+82.7%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
37,529
18,595
10,159
+101.8%
Capital expenditure
4,260
2,005
1,144
+112.5%
Free cash flow
33,269
16,590
9,015
+100.5%
Free cash flow margin
30.7%
25.4%
21.0%
Cash from investing
-40,419
-13,854
-17,434
Cash from financing
1,444
1,257
663
+14.9%
Depreciation and amortisation
1,600
815
606
+96.3%
Share-based compensation
1,168
879
710
+32.9%
Buybacks
0.0
n/a
n/a
Dividend per share
$0.00
$0.00
n/a
Diluted shares, weighted
26,226m
25,892m
25,396m
+1.3%
Shares outstanding at period end
26,020m
25,647m
25,195m
+1.5%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
76,615
47,791
31,640
+60.3%
Debt
0.0
0.0
n/a
Other liabilities
39,756
27,392
15,861
+45.1%
Total liabilities and equity
116,371
75,183
47,501
+54.8%
Fixed assets
7,777
n/a
n/a
Goodwill
896
741
206
+20.9%
Intangible assets
3,536
342
247
+933.9%
Investments
71,755
39,750
28,729
+80.5%
Cash and equivalents
9,815
11,261
5,263
-12.8%
Receivables
5,369
5,510
3,361
-2.6%
Inventory
776
1,051
455
-26.2%
Other assets
16,447
16,528
9,240
-0.5%
Total assets
116,371
75,183
47,501
+54.8%
10-K for the year ended 24 September 2011, filed 26 October 2011: the filing.