Apple (AAPL) FY2026 results: revenue $478.8 billion, up 15.1% on the year
Apple Inc. (AAPL) reported revenue of $478.8 billion for fiscal 2026, the year ended 26 September 2026, up 15.1% on the year before. Net income was $132.2 billion, up 18.0%, and diluted earnings per share $8.98. The figures are the company's own, from the 10-K it filed with the SEC on 3 November 2026.
Revenue
$478.8 billion
+15.1% on the year
FY2019FY2026
Operating margin
33.0%
32.0% a year earlier
FY2019FY2026
Net income
$132.2 billion
+18.0% on the year
FY2019FY2026
Diluted EPS
$8.98
+20.4% on the year
FY2019FY2026
this yearthe year beforeHover a bar for its figure.
The year in brief
What management said about the year
Quarterly revenue rose 12 percent: Net sales were $114.5 billion against $102.5 billion. Products were $82.9 billion and Services $31.6 billion. Full-year net sales were $478.8 billion against $416.2 billion.
Diluted EPS rose 14 percent: Diluted EPS was $2.10 against $1.85, including $0.05 from tariff refunds. Net income was $30.7 billion against $27.5 billion; full-year diluted EPS was $8.98 against $7.46.
Greater China net sales rose 21 percent: Greater China net sales were $17.5 billion against $14.5 billion, about 21 percent higher. Japan was $6.5 billion against $6.6 billion.
IPhone net sales rose 17 percent: iPhone net sales were $57.6 billion against $49.0 billion, about 17 percent higher. Full-year iPhone net sales were $254.1 billion against $209.6 billion.
Gross margin 47.9 percent with refunds: Gross margin was $54.8 billion, or 47.9 percent of net sales, against $48.3 billion. Tariff refunds added about 1 percentage point to the margin.
$ 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
FY2026
FY2025
FY2024
On the year
Last 8 years
Operating cash flow
145,097
111,482
118,254
+30.2%
Capital expenditure
9,041
12,715
9,447
-28.9%
Free cash flow
136,056
98,767
108,807
+37.8%
Free cash flow margin
28.4%
23.7%
27.8%
Cash from investing
-17,280
15,195
2,935
Cash from financing
-127,446
-120,686
-121,983
Depreciation and amortisation
13,423
11,698
11,445
+14.7%
Share-based compensation
13,789
12,863
11,688
+7.2%
Buybacks
86,390
90,711
94,949
-4.8%
Dividends paid
15,721
15,421
15,234
+1.9%
Dividend per share
$1.06
$1.02
$0.98
+3.9%
Diluted shares, weighted
14,720m
15,005m
15,408m
-1.9%
Shares outstanding at period end
14,532m
14,773m
15,117m
-1.6%
Balance sheet
$ million
FY2026
FY2025
FY2024
On the year
Last 8 years
Shareholders' equity
112,093
73,733
56,950
+52.0%
Debt
80,111
98,657
106,629
-18.8%
Operating lease liabilities
11,358
10,911
10,046
+4.1%
Finance lease liabilities
756
692
752
+9.2%
Other liabilities
200,230
175,248
190,603
+14.3%
Total liabilities and equity
404,548
359,241
364,980
+12.6%
Fixed assets
52,084
49,834
45,680
+4.5%
Intangible assets
25,700
13,301
n/a
+93.2%
Investments
100,630
96,486
126,707
+4.3%
Cash and equivalents
36,305
35,934
29,943
+1.0%
Receivables
43,817
39,777
33,410
+10.2%
Inventory
14,541
5,718
7,286
+154.3%
Other assets
131,471
118,191
121,954
+11.2%
Total assets
404,548
359,241
364,980
+12.6%
10-K for the year ended 26 September 2026, filed 3 November 2026: the filing.