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AAPL · Gross margin
Computed from AAPL's latest annual filing — every figure below is the filed value, cited to the filing, never estimated.
vs FY2024 (restated in the same filing): +8% gross profit YoY
| Line item | Sep 2016 | Sep 2017 | Sep 2018 | Sep 2019 | Sep 2020 | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 | TTM* ended 2026-03-28 — derived: computed by Echelon from filed periods, not as filed |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 215,639 (accession 0000320193-18-000145) | 229,234 (accession 0000320193-19-000119) | 265,595 (accession 0000320193-20-000096) | 260,174 (accession 0000320193-21-000105) | 274,515 (accession 0000320193-22-000108) | 365,817 (accession 0000320193-23-000106) | 394,328 (accession 0000320193-24-000123) | 383,285 (accession 0000320193-25-000079) | 391,035 (accession 0000320193-25-000079) | 416,161 (accession 0000320193-25-000079) | 451,442 |
| YoY | -7.7% | +6.3% | +15.9% | -2% | +5.5% | +33.3% | +7.8% | -2.8% | +2% | +6.4% | — |
| Cost of revenue | 131,376 (accession 0000320193-18-000145) | 141,048 (accession 0000320193-19-000119) | 163,756 (accession 0000320193-20-000096) | 161,782 (accession 0000320193-21-000105) | 169,559 (accession 0000320193-22-000108) | 212,981 (accession 0000320193-23-000106) | 223,546 (accession 0000320193-24-000123) | 214,137 (accession 0000320193-25-000079) | 210,352 (accession 0000320193-25-000079) | 220,960 (accession 0000320193-25-000079) | 235,371 |
| YoY | -6.2% | +7.4% | +16.1% | -1.2% | +4.8% | +25.6% | +5% | -4.2% | -1.8% | +5% | — |
| Gross profit | 84,263 (accession 0000320193-18-000145) | 88,186 (accession 0000320193-19-000119) | 101,839 (accession 0000320193-20-000096) | 98,392 (accession 0000320193-21-000105) | 104,956 (accession 0000320193-22-000108) | 152,836 (accession 0000320193-23-000106) | 170,782 (accession 0000320193-24-000123) | 169,148 (accession 0000320193-25-000079) | 180,683 (accession 0000320193-25-000079) | 195,201 (accession 0000320193-25-000079) | 216,071 |
| YoY | -10% | +4.7% | +15.5% | -3.4% | +6.7% | +45.6% | +11.7% | -1% | +6.8% | +8% | — |
| Operating expenses | 24,239 (accession 0000320193-18-000145) | 26,842 (accession 0000320193-19-000119) | 30,941 (accession 0000320193-20-000096) | 34,462 (accession 0000320193-21-000105) | 38,668 (accession 0000320193-22-000108) | 43,887 (accession 0000320193-23-000106) | 51,345 (accession 0000320193-24-000123) | 54,847 (accession 0000320193-25-000079) | 57,467 (accession 0000320193-25-000079) | 62,151 (accession 0000320193-25-000079) | 68,705 |
| YoY | +8.2% | +10.7% | +15.3% | +11.4% | +12.2% | +13.5% | +17% | +6.8% | +4.8% | +8.2% | — |
| Operating income | 60,024 (accession 0000320193-18-000145) | 61,344 (accession 0000320193-19-000119) | 70,898 (accession 0000320193-20-000096) | 63,930 (accession 0000320193-21-000105) | 66,288 (accession 0000320193-22-000108) | 108,949 (accession 0000320193-23-000106) | 119,437 (accession 0000320193-24-000123) | 114,301 (accession 0000320193-25-000079) | 123,216 (accession 0000320193-25-000079) | 133,050 (accession 0000320193-25-000079) | 147,366 |
| YoY | -15.7% | +2.2% | +15.6% | -9.8% | +3.7% | +64.4% | +9.6% | -4.3% | +7.8% | +8% | — |
| Net income | 45,687 (accession 0000320193-18-000145) | 48,351 (accession 0000320193-19-000119) | 59,531 (accession 0000320193-20-000096) | 55,256 (accession 0000320193-21-000105) | 57,411 (accession 0000320193-22-000108) | 94,680 (accession 0000320193-23-000106) | 99,803 (accession 0000320193-24-000123) | 96,995 (accession 0000320193-25-000079) | 93,736 (accession 0000320193-25-000079) | 112,010 (accession 0000320193-25-000079) | 122,575 |
| YoY | -14.4% | +5.8% | +23.1% | -7.2% | +3.9% | +64.9% | +5.4% | -2.8% | -3.4% | +19.5% | — |
| Diluted EPS | 8.31 (accession 0000320193-18-000145) | 9.21 (accession 0000320193-19-000119) | 2.98 (accession 0000320193-20-000096) | 2.97 (accession 0000320193-21-000105) | 3.28 (accession 0000320193-22-000108) | 5.61 (accession 0000320193-23-000106) | 6.11 (accession 0000320193-24-000123) | 6.13 (accession 0000320193-25-000079) | 6.08 (accession 0000320193-25-000079) | 7.46 (accession 0000320193-25-000079) | — |
| YoY | -9.9% | +10.8% | -67.6% | -0.3% | +10.4% | +71% | +8.9% | +0.3% | -0.8% | +22.7% | — |
USD lines in millions; EPS per share. Annual columns are fiscal years, labeled by their period-end month (a filer's own fiscal label may differ). “—” is an honest gap: the filer did not tag that line for that period. *TTM (twelve months ended 2026-03-28) is computed from filed periods — latest fiscal year plus newer quarters minus their year-ago pairs; each line’s full trail rides the CSV export. Every column cites its accession in the export. Figures as filed via SEC EDGAR, never estimated.
Answers come strictly from AAPL's 10-K filed 2025-10-31, and every answer links the exact passages it used. Questions asking what to do with the stock are refused — that's the point.
The share of each revenue dollar left after the direct cost of producing what was sold. It is the first read on pricing power and production efficiency, and the starting point of every margin analysis.
Gross margin = Gross profit ÷ Revenue = (Revenue − Cost of revenue) ÷ Revenue
Educational use only — not investment advice. Figures come from public SEC filings; Echelon teaches you to analyze data, it never recommends buying or selling any security.