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features 2006 q4 2007q1 2007q2 2007q3current assets 16664 16029 18745 21959
Current Liabilities 7337 5490 6992 9299inventory 303 208 251 346
Total Assets 19461 18711 21647 25347Net Income 431 770 818 904
Stockholders' Equity 11228 12268 13404 14532
Sales 7215 5264 5410 6217Gross profit 2220 1849 1995 2090
Operating income 1322 986 1041 1060net profit 1000 770 818 904
61 175 87 108
Earnings Per Share 1.14 0.87 0.92 1
total liabillity 8233 6450 8243 10815
Gross margin 0.30769230769231 1 0.36876155268022 0.33617500402123Operating margin 0.18322938322938 0.53326122228231 0.19242144177449 0.17050024127393
Profit margin 0.13860013860014 0.41644131963223 0.15120147874307 0.1454077529355ROA 0.57694876933354 0.04115226337449 0.03778814616344 0.03566497021344
price earning ratio 53.5087719298246 201.149425287356 94.5652173913043 108current ratio 2.27122802235246 2.91967213114754 2.68092105263158 2.36143671362512quick ratio 2.2299304893008 2.88178506375228 2.64502288329519 2.32422841165717
0.47926622475721 0.56325156325156 0.54293897537765 0.49946739259084ROE 0.03838617741361 0.06276491685686 0.06102655923605 0.06220754197633
2006 q4 2007q1 2007q2 2007q3
Market Price of Common Stock Per
Share
net working capital ratio
2006 q4
2007q2
2007q4
2008q2200q4
2009q2
2009q4
2010q2
2010q40
0.5
1
1.5
2
2.5
3
3.5current ratio
current ratio
2006 q4
2007q2
2007q4
2008q2200q4
2009q2
2009q4
2010q2
2010q40
0.5
1
1.5
2
2.5
3
3.5quick ratio
quick ratio
2006 q4
2007q2
2007q4
2008q2200q4
2009q2
2009q4
2010q2
2010q40
0.5
1
1.5
2
2.5
3
3.5current ratio
current ratio
2006 q4
2007q2
2007q4
2008q2200q4
2009q2
2009q4
2010q2
2010q40
0.5
1
1.5
2
2.5
3
3.5quick ratio
quick ratio
2006 q4
2007q2
2007q4
2008q2200q4
2009q2
2009q4
2010q2
2010q40
0.1
0.2
0.3
0.4
0.5
0.6net working capital ratio
net working capital ratio
2006 q4
2007q2
2007q4
2008q2200q4
2009q2
2009q4
2010q2
2010q40
0.05
0.1
0.15
0.2
0.25
0.3
0.35ROE
ROE
2007q4 2008q1 2008q2 2008q3 2008q426190 28695 30256 32568 3469010535 11235 12569 14562 14092
459 468 485 496 50930039 32568 34568 37895 395721581 1609 1689 2658 6119
16804 17896 18659 19865 21030
9608 12056 15069 22562 374913332 4192 5243 7902 131972126 2671 3331 4997 83271580 1978 2478 3708 6120
128 115 126 140 150.63
1.76 1.72 2.32 4.23 5.44
13535 14563 16234 16983 18542
0.34679433805162 0.34771068347711 0.34793284225894 0.35023490825281 0.352004481075460.22127393838468 0.22154943596549 0.22104983741456 0.22147859232338 0.222106638926680.16444629475437 0.16406768414068 0.16444355962572 0.16434713234642 0.163239177402580.05263157894737 0.06458723 0.10256487 0.13568476 0.1546295360355872.7272727272727 66.8604651162791 54.3103448275862 33.096926713948 27.68933823529412.4859990507831 2.482356894 2.47985623 2.465895665 2.46168038603463
2.44242999525392 2.440235689 2.432568 2.4296584 2.425560601759860.52115583075335 0.53610906411201 0.51165818097663 0.519654551 0.52051955928434
0.078956423 0.08990835940992 0.15689545 0.2035689554 0.29096528768426
2007q4 2008q1 2008q2 2008q3 200q4
2006 q4
2007q2
2007q4
2008q2200q4
2009q2
2009q4
2010q2
2010q40
50
100
150
200
250price earning ratio
price earning ratio
2006 q4
2007q2
2007q4
2008q2200q4
2009q2
2009q4
2010q2
2010q40
0.5
1
1.5
2
2.5
3
3.5quick ratio
quick ratio
2006
q4
2007
q1
2007
q2
2007
q3
2007
q4
2008
q1
2008
q2
2008
q3
200q
4
2009
q1
2009
q2
2009
q3
2009
q4
2010
q1
2010
q2
2010
q3
2010
q4
00.20.40.60.8
11.21.41.61.8
2ROA
ROA
2006 q4
2007q2
2007q4
2008q2200q4
2009q2
2009q4
2010q2
2010q40
50
100
150
200
250price earning ratio
price earning ratio
2006 q4
2007q2
2007q4
2008q2200q4
2009q2
2009q4
2010q2
2010q40
0.5
1
1.5
2
2.5
3
3.5quick ratio
quick ratio
2006 q4
2007q2
2007q4
2008q2200q4
2009q2
2009q4
2010q2
2010q40
0.05
0.1
0.15
0.2
0.25
0.3
0.35ROE
ROE
.2009q1 2009q2 2009q3 2009q4 2010q133468 32568 32056 31555 3233613564 12563 11806 11506 12229
456 487 463 455 63840256 41256 45896 47501 570576196 62354 79864 8235 3074
23654 24569 28456 31640 39348
38452 39562 41256 42905 1349913623 14463 15623 17222 58419201 9689 10692 11740 39797125 7456 8026 8240 1620
105 112 123 102 210
4.56 5.26 6.89 6.34 3.33
17896 16956 16023 15861 17709
0.354285862894 0.36557807997573 0.37868431258484 0.40139843841044 0.432698718423590.23928534276501 0.24490672867904 0.25916230366492 0.27362778230975 0.29476257500556
0.1685648953 0.175645123 0.185645122 0.19205220836732 0.120008889547370.15986324568 1.695623458 1.7256892 0.17336477126797 0.05387594861279
23.0263157894737 21.2927756653992 17.8519593613933 16.0883280757098 63.06306306306312.46741374225892 2.59237443285839 2.612568 2.6235689 2.64420639463572.43379534060749 2.55360980657486 2.67601219718787 2.70293759777507 2.592035325864750.49443561208267 0.48489916618189 0.44121492069026 0.42207532473001 0.35240198398093
0.289655411 0.277236548 0.2703654842 0.26027180783818 0.07812341160923
2009q1 2009q2 2009q3 2009q4 2010q1
2006
q4
2007
q120
07q2
2007
q320
07q4
2008
q120
08q2
2008
q320
0q4
2009
q120
09q2
2009
q320
09q4
2010
q120
10q2
2010
q320
10q4
00.05
0.10.15
0.20.25
0.30.35
0.40.45
Profit margin
Profit margin
2006 q4
2007q2
2007q4
2008q2200q4
2009q2
2009q4
2010q2
2010q40
50
100
150
200
250price earning ratio
price earning ratio
2006
q4
2007
q120
07q2
2007
q320
07q4
2008
q120
08q2
2008
q320
0q4
2009
q120
09q2
2009
q320
09q4
2010
q120
10q2
2010
q320
10q4
00.05
0.10.15
0.20.25
0.30.35
0.40.45
Profit margin
Profit margin
2006
q4
2007
q1
2007
q2
2007
q3
2007
q4
2008
q1
2008
q2
2008
q3
200q
4
2009
q1
2009
q2
2009
q3
2009
q4
2010
q1
2010
q2
2010
q3
2010
q4
00.20.40.60.8
11.21.41.61.8
2ROA
ROA
2006 q4
2007q2
2007q4
2008q2200q4
2009q2
2009q4
2010q2
2010q40
50
100
150
200
250price earning ratio
price earning ratio
2010q2 2010q3 2010q436033 41678 4392715612 20722 23795
942 1051 88564725 75183 867423253 4308 6004
43111 47791 54666
15700 20343 267416409 7841 106544507 5776 81833070 7900 1140
271 295 325.72
3.51 4.64 6.43
21614 27392 32076
0.40821656050955 0.38543970899081 0.398414419804790.28707006369427 0.28393059037507 0.306009498522870.19554140127389 0.38833996952269 0.042631165625820.05025878717652 0.0573001875424 0.0692167577413577.2079772079772 63.5775862068966 50.65629860031112.30803228285934 2.01129234629862 1.846060096658962.24769408147579 1.96057330373516 1.808867409119560.31550405561993 0.27873322426612 0.232090567429850.07545638004222 0.09014249544893 0.10983060769034
2010q2 2010q3 2010q4
2006
q4
2007
q120
07q2
2007
q320
07q4
2008
q120
08q2
2008
q320
0q4
2009
q120
09q2
2009
q320
09q4
2010
q120
10q2
2010
q320
10q4
0
0.2
0.4
0.6
0.8
1
1.2Gross margin
Gross margin
Axis Title
Axis
Title
2006
q4
2007
q120
07q2
2007
q320
07q4
2008
q120
08q2
2008
q320
0q4
2009
q120
09q2
2009
q320
09q4
2010
q120
10q2
2010
q320
10q4
00.05
0.10.15
0.20.25
0.30.35
0.40.45
Profit margin
Profit margin
2006
q4
2007
q120
07q2
2007
q320
07q4
2008
q120
08q2
2008
q320
0q4
2009
q120
09q2
2009
q320
09q4
2010
q120
10q2
2010
q320
10q4
00.05
0.10.15
0.20.25
0.30.35
0.40.45
Profit margin
Profit margin
2006
q4
2007
q120
07q2
2007
q320
07q4
2008
q120
08q2
2008
q320
0q4
2009
q120
09q2
2009
q320
09q4
2010
q120
10q2
2010
q320
10q4
0
0.2
0.4
0.6
0.8
1
1.2Gross margin
Gross margin
Axis Title
Axis
Title
2006
q4
2007
q120
07q2
2007
q320
07q4
2008
q120
08q2
2008
q320
0q4
2009
q120
09q2
2009
q320
09q4
2010
q120
10q2
2010
q320
10q4
0
0.1
0.2
0.3
0.4
0.5
0.6Operating margin
Operating margin
Finantial ratios IPHONE 3G IPHONE 3GS Gross margin = =
Operating margin = = Profit margin = =
ROA + ? Current ratio = +
Quick ratio = + Net working capital - -
ROE + -
Sign Implication1 + Increasing2 - Decreasing3 = No change4 ? Uncertain
2006 q4 2007q1 2007q2 2007q3 2007q4 2008q1 2008q2 2008q3 200q4 2009q1 2009q2 2009q3 2009q4 2010q1 2010q2 2010q3 2010q40
0.5
1
1.5
2
2.5
3
3.5Gross margin
Operating margin
Net Profit margin
ROA
current ratio
quick ratio
net working capital ratio
ROE
IPOD TOUCH 1 IPOD TOUCH 2 IPOD TOUCH 3 IPAD IPHONE 2G IPHONE 3G IPHONE 3GS IPHONE 4
IPAD Better Financial Implication+ IPAD + IPAD + IPAD = ?+ IPHONE 3GS+ IPAD = IPAD = IPHONE 3G
2006 q4 2007q1 2007q2 2007q3 2007q4 2008q1 2008q2 2008q3 200q4 2009q1 2009q2 2009q3 2009q4 2010q1 2010q2 2010q3 2010q40
0.5
1
1.5
2
2.5
3
3.5Gross margin
Operating margin
Net Profit margin
ROA
current ratio
quick ratio
net working capital ratio
ROE
IPOD TOUCH 1 IPOD TOUCH 2 IPOD TOUCH 3 IPAD IPHONE 2G IPHONE 3G IPHONE 3GS IPHONE 4
References:
References:http://phx.corporate-ir.net/phoenix.zhtml?c=107357&p=irol-newshttp://www.hotstocked.com/companies/a/apple-inc-AAPL-balance-sheet-51437.htmlhttp://www.apple.com/investor/
