Balance Sheet: Assets
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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- Income Statement
- Common-Size Balance Sheet: Assets
- Analysis of Solvency Ratios
- Analysis of Geographic Areas
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Dividend Discount Model (DDM)
- Selected Financial Data since 2005
- Return on Assets (ROA) since 2005
- Debt to Equity since 2005
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Apple Inc., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-06-28), 10-Q (reporting date: 2025-03-29), 10-Q (reporting date: 2024-12-28), 10-K (reporting date: 2024-09-28), 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-Q (reporting date: 2023-12-30), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-24), 10-Q (reporting date: 2022-06-25), 10-Q (reporting date: 2022-03-26), 10-Q (reporting date: 2021-12-25), 10-K (reporting date: 2021-09-25), 10-Q (reporting date: 2021-06-26), 10-Q (reporting date: 2021-03-27), 10-Q (reporting date: 2020-12-26), 10-K (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-Q (reporting date: 2019-12-28), 10-K (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30), 10-Q (reporting date: 2018-12-29).
The analysis of the quarterly financial data reveals several noteworthy trends and variations over the observed periods.
- Liquidity and Cash Position
- The balance of cash and cash equivalents fluctuated significantly, showing a peak of US$50,530 million in June 2019 followed by a general declining trend to around US$20,535 million by December 2022. However, from early 2023 to mid-2025, cash levels exhibited recovery and growth, reaching approximately US$36,269 million by June 2025. This suggests periods of both liquidity tightening and improvement.
- Marketable Securities
- Current marketable securities reached a high point of US$67,391 million at the end of 2019, but subsequently declined steadily until around mid-2025, finishing near US$19,103 million. Conversely, non-current marketable securities initially decreased from US$158,608 million in late 2018 to approximately US$77,614 million by mid-2025. This overall contraction in marketable securities, both current and non-current, indicates a reduction in liquid financial investments over the time frame.
- Receivables
- Accounts receivable demonstrated variability with spikes notably in Q4 2019 and several quarters in 2021 and 2024, ranging from around US$14,148 million to peaks of approximately US$33,410 million. Vendor non-trade receivables mirrored this volatility, with levels spiking at times such as Q4 2020 and Q4 2024, followed by declines. These oscillations point to fluctuations in credit extended to customers and vendors, possibly reflecting seasonal sales patterns or changes in credit policies.
- Inventories
- Inventory levels generally fluctuated between US$3,355 million and US$7,482 million, with no distinct sustained upward or downward trend. Occasional increases suggest cycles of production stocking or demand variations without a clear directional movement.
- Other Current and Non-current Assets
- Other current assets experienced gradual growth, increasing from about US$10,530 million in mid-2019 to a peak exceeding US$21,223 million in late 2022, followed by some volatility thereafter. Other non-current assets trended upward more steadily, rising from approximately US$33,634 million in mid-2019 to around US$82,882 million by mid-2025, indicating increasing investments or deferred charges in longer-term asset categories.
- Total and Segment Asset Values
- Total assets varied over time, with a low point near US$317,344 million in mid-2020 and a peak around US$381,191 million in late 2021. Post-2021, total assets showed moderate decline and stabilization, hovering around US$331 billion by mid-2025. Non-current assets contributed significantly to total asset values, comprising the majority across the periods surveyed.
- Property, Plant, and Equipment (PP&E)
- Net PP&E values showed a steady and gradual increase from approximately US$37,636 million in mid-2019 to US$48,508 million by mid-2025. This consistent growth suggests continued capital expenditure and asset acquisition or improvement over the timeframe analyzed.
In summary, the data portrays a company managing liquidity dynamics with considerable variation in cash and marketable securities. Receivables and inventories show fluctuating patterns, potentially linked to operational cycles. Long-term asset components such as PP&E and other non-current assets exhibit growth, indicating ongoing investment in operational capacity and infrastructure. Total asset values reflect these movements, with observable peaks and troughs aligning with broader asset category changes.