Apple (AAPL) FY2017 results: revenue $229.2 billion, up 6.3% on the year
Apple Inc. (AAPL) reported revenue of $229.2 billion for fiscal 2017, the year ended 30 September 2017, up 6.3% on the year before. Net income was $48.4 billion, up 5.8%, and diluted earnings per share $2.30. The figures are the company's own, from the 10-K it filed with the SEC on 31 October 2019.
Revenue
$229.2 billion
+6.3% on the year
FY2010FY2017
Operating margin
26.8%
27.8% a year earlier
FY2010FY2017
Net income
$48.4 billion
+5.8% on the year
FY2010FY2017
Diluted EPS
$2.30
+10.8% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
229,234
215,639
233,715
+6.3%
Cost of revenue
141,048
131,376
140,089
+7.4%
Gross profit
88,186
84,263
93,626
+4.7%
Gross margin
38.5%
39.1%
40.1%
Research and development
11,581
10,045
8,067
+15.3%
Selling, general and administrative
15,261
14,194
14,329
+7.5%
Operating income
61,344
60,024
71,230
+2.2%
Operating margin
26.8%
27.8%
30.5%
Interest expense
2,323
1,456
733
+59.5%
Pre-tax income
64,089
61,372
72,515
+4.4%
Income tax
15,738
15,685
19,121
+0.3%
Effective tax rate
24.6%
25.6%
26.4%
Net income
48,351
45,687
53,394
+5.8%
Net margin
21.1%
21.2%
22.8%
Diluted EPS
$2.30
$2.08
$2.31
+10.8%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
64,225
66,231
81,266
-3.0%
Capital expenditure
12,451
12,734
11,247
-2.2%
Free cash flow
51,774
53,497
70,019
-3.2%
Free cash flow margin
22.6%
24.8%
30.0%
Cash from investing
-46,446
-45,977
-56,274
Cash from financing
-17,974
-20,890
-17,716
Depreciation and amortisation
10,157
10,505
9,200
-3.3%
Share-based compensation
4,840
4,210
3,586
+15.0%
Buybacks
32,900
29,722
35,253
+10.7%
Dividends paid
12,563
11,965
11,561
+5.0%
Dividend per share
$0.60
$0.55
$0.49
+10.1%
Diluted shares, weighted
21,007m
22,001m
23,172m
-4.5%
Shares outstanding at period end
20,505m
21,345m
22,315m
-3.9%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
134,047
128,249
119,355
+4.5%
Debt
115,680
87,032
64,328
+32.9%
Other liabilities
125,592
106,405
106,796
+18.0%
Total liabilities and equity
375,319
321,686
290,479
+16.7%
Fixed assets
33,783
27,010
22,471
+25.1%
Goodwill
5,717
5,414
5,116
+5.6%
Intangible assets
2,298
3,206
3,893
-28.3%
Investments
248,606
217,101
184,546
+14.5%
Cash and equivalents
20,289
20,484
21,120
-1.0%
Receivables
17,874
15,754
16,849
+13.5%
Inventory
4,855
2,132
2,349
+127.7%
Other assets
41,897
30,585
34,135
+37.0%
Total assets
375,319
321,686
290,479
+16.7%
10-K for the year ended 30 September 2017, filed 31 October 2019: the filing.