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Statement
Assets, liabilities and equity aligned across the annual filing history, in USD millions.
Assets
+12.6% YoYReported for FY 2026
Liabilities
+2.4% YoYReported for FY 2026
Equity
+52.0% YoYReported for FY 2026
Equity mix
+7.2 ppEquity share of the capital base
Table view
Balance sheet, reported dollar amounts — FY 2026
Every figure is the balance as filed. Each filing badge opens the SEC index page for that fiscal year.
Structure
Assets plotted against the liabilities and equity stack, so you can see how the balance sheet is financed.
Liabilities and equity stack to the capital base; assets are the dashed reference line.
Composition
The same split read as a share of total capital rather than in absolute dollars.
Percentages are measured against total capital for each fiscal year.
Trend
How assets, liabilities and equity have moved across the annual balance sheet window.
Switching between bar and line keeps the selected year order.
Commentary
This explanation uses an earlier data snapshot or evidence version. Compare its generation date with the current filing figures.
Earlier AI snapshot · Generated May 23, 2026. The filing-backed figures above are the current source of truth.
Over the five-year period, Apple’s balance sheet remained exceptionally large and stable, with total assets staying in a fairly tight range of about $351 billion to $365 billion. Assets peaked in 2024 at $364.98 billion before easing slightly to $359.24 billion in 2025. This indicates a mature, highly cash-generative business that has not needed major asset expansion to support operations, which is typical for a mega-cap technology company with strong free cash flow and relatively modest capital intensity. Liabilities rose from $287.91 billion in 2021 to a high of $308.03 billion in 2024, then declined to $285.51 billion in 2025. The 2024 increase likely reflects ongoing use of financing and operational obligations, while the 2025 reduction suggests a modest deleveraging or liability normalization. Stockholders’ equity was more volatile, falling from $63.09 billion in 2021 to $50.67 billion in 2022, recovering to $62.15 billion in 2023, dipping again to $56.95 billion in 2024, and then rising sharply to $73.73 billion in 2025. Overall, Apple ended the period with a stronger equity base, implying improved book capitalization even as the company continued to operate with a relatively liability-heavy structure, which is common among large tech firms that return capital aggressively via buybacks and maintain substantial cash and marketable securities.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.