Dollar Amounts
USD (Millions)
Balance sheet data in USD (millions)
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Over the five-year window Apple’s total assets were largely stable, edging up from $351,002m in 2021 to $359,241m in 2025 (+$8,239m, +2.4%), with a peak at $364,980m in 2024 before a modest slip in 2025. Total liabilities showed modest net decline over the period (from $287,912m to $285,508m, −$2,404m, −0.8%) but were uneven—liabilities rose noticeably in 2022 and again in 2024 (peaking at $308,030m) before dropping sharply in 2025. Stockholders’ equity was the most volatile series: it fell from $63,090m in 2021 to a low of $50,672m in 2022, then recovered to a five‑year high of $73,733m in 2025 (net increase +$10,643m, +16.9%). The balance-sheet picture to take away is a company that maintained a fairly consistent asset base while actively managing its liabilities and equity. Leverage (liabilities/assets) peaked in 2022 (~85.6%) and 2024 (~84.5%) but fell to its lowest point in 2025 (~79.5%), and the equity-to-assets ratio strengthened to about 20.5% in 2025 after the 2022 trough (≈14.4%). Such swings are consistent with large-cap tech behavior—periodic debt issuance or repayment and significant capital return programs (buybacks/dividends) can shift liabilities and equity even when assets are steady. By 2025 Apple’s balance sheet looks measurably stronger from an equity-cushion and leverage standpoint, though continued modest asset growth suggests investors should watch how the company deploys capital for growth versus returns.
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.