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Intrinsic value of Apple Inc. (AAPL)

Previous Close$137.59
Intrinsic Value
Upside potential
Previous Close
$137.59

VALUATION INPUT DATA

Revenue, mln $
Initial revenue growth rate (norm.), %
Variable cost ratio, %
Fixed operating expenses, mln $
Production assets / Revenue, %
Working capital / Revenue, %
Interest rate on debt, %
Initial discount rate, %
Shares outstanding, mln
Adjusted equity ratio
Adjusted assets / Revenue
Cash & ST Investments
Total debt
Market cap, m$
2,260,191

Based on fiscal year data as of 2021-09-30 and quarterly data as of 2022-03-31.

  1. Annual
  2. Quarterly YoY
  3. Quarterly QoQ

Annual revenue growth rates, % (past and forecasted)

NOTE: The bar chart shows historic and forecasted yearly revenue growth rates. Its purpose is to help you in determining what initial revenue rate you want to base your stock valuation on. Please make sure that you are confident in the value you select - for most stocks it is by far the most important parameter in valuation.

show cash flow forecast

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year2021(a)2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046

INCOME STATEMENT

Revenue growth rate, %33.4NaN
Revenue, $365817NaN
Variable operating expenses, $mNaN
Fixed operating expenses, $mNaN
Total operating expenses, $m256868NaN
Operating income, $m108949NaN
EBITDA, $m120233NaN
Interest expense (income), $mNaN
Earnings before tax, $m109207NaN
Tax expense, $m14527NaN
Net income, $m94680NaN

BALANCE SHEET

Cash and short-term investments, $m62639NaN
Total assets, $m351002NaN
Adjusted assets (=assets-cash), $m288363NaN
Average production assets, $m47432NaN
Working capital, $m9355NaN
Total debt, $m136522NaN
Total liabilities, $m287912NaN
Total equity, $m63090NaN
Debt-to-equity ratio2.164NaN
Adjusted equity ratio0.061NaN

CASH FLOW

Net income, $m94680NaN
Depreciation, amort., depletion, $m11284NaN
Funds from operations, $mNaN
Change in working capital, $mNaN
Cash from operations, $m104038NaN
Maintenance CAPEX, $mNaN
New CAPEX, $mNaN
Total CAPEX, $m-11085NaN
Free cash flow, $m115123NaN
Issuance/(repurchase) of shares, $mNaN
Retained Cash Flow, $mNaN
Pot'l extraordinary dividend, $m9355
Cash available for distribution, $mNaN
Discount rate, %NaN
PV of cash for distribution, $mNaN
Current shareholders' claim on cash, %NaN
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