Stock Analysis on Net

Apple Inc. (NASDAQ:AAPL)

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DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
Quarterly Data

Microsoft Excel

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Two-Component Disaggregation of ROE

Apple Inc., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = ROA × Financial Leverage
Sep 28, 2024 = ×
Jun 29, 2024 = ×
Mar 30, 2024 = ×
Dec 30, 2023 = ×
Sep 30, 2023 = ×
Jul 1, 2023 = ×
Apr 1, 2023 = ×
Dec 31, 2022 = ×
Sep 24, 2022 = ×
Jun 25, 2022 = ×
Mar 26, 2022 = ×
Dec 25, 2021 = ×
Sep 25, 2021 = ×
Jun 26, 2021 = ×
Mar 27, 2021 = ×
Dec 26, 2020 = ×
Sep 26, 2020 = ×
Jun 27, 2020 = ×
Mar 28, 2020 = ×
Dec 28, 2019 = ×
Sep 28, 2019 = ×
Jun 29, 2019 = ×
Mar 30, 2019 = ×
Dec 29, 2018 = ×

Based on: 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 primary reason for the increase in return on equity ratio (ROE) over Q4 2024 is the increase in financial leverage ratio.


Three-Component Disaggregation of ROE

Apple Inc., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Net Profit Margin × Asset Turnover × Financial Leverage
Sep 28, 2024 = × ×
Jun 29, 2024 = × ×
Mar 30, 2024 = × ×
Dec 30, 2023 = × ×
Sep 30, 2023 = × ×
Jul 1, 2023 = × ×
Apr 1, 2023 = × ×
Dec 31, 2022 = × ×
Sep 24, 2022 = × ×
Jun 25, 2022 = × ×
Mar 26, 2022 = × ×
Dec 25, 2021 = × ×
Sep 25, 2021 = × ×
Jun 26, 2021 = × ×
Mar 27, 2021 = × ×
Dec 26, 2020 = × ×
Sep 26, 2020 = × ×
Jun 27, 2020 = × ×
Mar 28, 2020 = × ×
Dec 28, 2019 = × ×
Sep 28, 2019 = × ×
Jun 29, 2019 = × ×
Mar 30, 2019 = × ×
Dec 29, 2018 = × ×

Based on: 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 primary reason for the increase in return on equity ratio (ROE) over Q4 2024 is the increase in financial leverage ratio.


Two-Component Disaggregation of ROA

Apple Inc., decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Net Profit Margin × Asset Turnover
Sep 28, 2024 = ×
Jun 29, 2024 = ×
Mar 30, 2024 = ×
Dec 30, 2023 = ×
Sep 30, 2023 = ×
Jul 1, 2023 = ×
Apr 1, 2023 = ×
Dec 31, 2022 = ×
Sep 24, 2022 = ×
Jun 25, 2022 = ×
Mar 26, 2022 = ×
Dec 25, 2021 = ×
Sep 25, 2021 = ×
Jun 26, 2021 = ×
Mar 27, 2021 = ×
Dec 26, 2020 = ×
Sep 26, 2020 = ×
Jun 27, 2020 = ×
Mar 28, 2020 = ×
Dec 28, 2019 = ×
Sep 28, 2019 = ×
Jun 29, 2019 = ×
Mar 30, 2019 = ×
Dec 29, 2018 = ×

Based on: 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 primary reason for the decrease in return on assets ratio (ROA) over Q4 2024 is the decrease in profitability measured by net profit margin ratio.