Apple (AAPL) FY2016 results: revenue $215.6 billion, down 7.7% on the year
Apple Inc. (AAPL) reported revenue of $215.6 billion for fiscal 2016, the year ended 24 September 2016, down 7.7% on the year before. Net income was $45.7 billion, down 14.4%, and diluted earnings per share $2.08. The figures are the company's own, from the 10-K it filed with the SEC on 26 October 2016.
Revenue
$215.6 billion
-7.7% on the year
FY2009FY2016
Operating margin
27.8%
30.5% a year earlier
FY2009FY2016
Net income
$45.7 billion
-14.4% on the year
FY2009FY2016
Diluted EPS
$2.08
-9.9% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
215,639
233,715
182,795
-7.7%
Cost of revenue
131,376
140,089
112,258
-6.2%
Gross profit
84,263
93,626
70,537
-10.0%
Gross margin
39.1%
40.1%
38.6%
Research and development
10,045
8,067
6,041
+24.5%
Selling, general and administrative
14,194
14,329
11,993
-0.9%
Operating income
60,024
71,230
52,503
-15.7%
Operating margin
27.8%
30.5%
28.7%
Interest expense
1,456
733
384
+98.6%
Pre-tax income
61,372
72,515
53,483
-15.4%
Income tax
15,685
19,121
13,973
-18.0%
Effective tax rate
25.6%
26.4%
26.1%
Net income
45,687
53,394
39,510
-14.4%
Net margin
21.2%
22.8%
21.6%
Diluted EPS
$2.08
$2.31
$1.61
-9.9%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
66,231
81,266
59,713
-18.5%
Capital expenditure
12,734
11,247
9,571
+13.2%
Free cash flow
53,497
70,019
50,142
-23.6%
Free cash flow margin
24.8%
30.0%
27.4%
Cash from investing
-45,977
-56,274
n/a
Cash from financing
-20,890
-17,716
n/a
Depreciation and amortisation
10,505
9,200
6,900
+14.2%
Share-based compensation
4,210
3,586
2,863
+17.4%
Buybacks
29,722
35,253
45,000
-15.7%
Dividends paid
11,965
11,561
11,031
+3.5%
Dividend per share
$0.55
$0.49
$0.46
+10.1%
Diluted shares, weighted
22,001m
23,172m
24,491m
-5.1%
Shares outstanding at period end
21,345m
22,315m
23,465m
-4.3%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
128,249
119,355
111,547
+7.5%
Debt
87,032
64,328
35,295
+35.3%
Other liabilities
106,405
106,796
84,997
-0.4%
Total liabilities and equity
321,686
290,479
231,839
+10.7%
Fixed assets
27,010
22,471
20,624
+20.2%
Goodwill
5,414
5,116
4,616
+5.8%
Intangible assets
3,206
3,893
4,142
-17.6%
Investments
217,101
184,546
141,395
+17.6%
Cash and equivalents
20,484
21,120
13,844
-3.0%
Receivables
15,754
16,849
17,460
-6.5%
Inventory
2,132
2,349
2,111
-9.2%
Other assets
30,585
34,135
27,647
-10.4%
Total assets
321,686
290,479
231,839
+10.7%
10-K for the year ended 24 September 2016, filed 26 October 2016: the filing.