Apple exhibits strong profitability and operational efficiency within the Technology Hardware, Storage & Peripherals industry, though its revenue growth significantly lags behind sector peers. The company's Return on Equity (ROE) stands at 30.39%, which is 12.03% above the industry average of 18.36%. Apple reports an EBITDA of $39.32 billion, representing 40.96 times the industry average, while its gross profit of $54.78 billion is 43.48 times higher than the sector mean.
Despite these operational strengths, Apple's revenue growth of 16.6% falls well short of the industry average of 104.96%. This disparity highlights a notable slowdown in sales expansion relative to competitors. The company's valuation metrics present a mixed picture; the Price to Earnings (P/E) ratio of 35.83 is 0.33 times lower than the industry average, suggesting potential undervaluation. However, the Price to Book (P/B) ratio of 40.82 is 1.49 times the industry average, indicating the market values Apple's assets highly.
Financial Comparison
The following table compares Apple's key financial metrics against its primary industry competitors:
| Company |
P/E |
P/B |
P/S |
ROE |
EBITDA (in billions) |
Gross Profit (in billions) |
Revenue Growth |
| Apple Inc |
35.83 |
40.82 |
9.73 |
30.39% |
$39.32 |
$54.78 |
16.6% |
| SanDisk Corp |
66.94 |
21.06 |
22.55 |
30.14% |
$4.15 |
$4.66 |
251.03% |
| Seagate Technology Holdings PLC |
101.15 |
220.27 |
21.81 |
96.27% |
$1.0 |
$1.45 |
44.07% |
| Western Digital Corp |
42.62 |
25.36 |
22.75 |
37.73% |
$3.49 |
$1.68 |
45.47% |
| Hewlett Packard Enterprise Co |
45.05 |
2.52 |
1.67 |
1.71% |
$1.46 |
$3.34 |
18.42% |
| NetApp Inc |
24.38 |
22.45 |
4.49 |
32.2% |
$0.59 |
$1.36 |
12.47% |
| Everpure Inc |
110.11 |
16.75 |
6.41 |
1.67% |
$0.07 |
$0.72 |
35.25% |
| IonQ Inc |
140.23 |
4.10 |
92.35 |
17.93% |
$-0.23 |
$0.02 |
754.72% |
| Super Micro Computer Inc |
14.62 |
2.37 |
0.55 |
6.64% |
$0.7 |
$1.02 |
122.68% |
| Logitech International SA |
22.07 |
6.88 |
3.24 |
6.31% |
$0.16 |
$0.48 |
7.44% |
| Diebold Nixdorf Inc |
27.89 |
2.74 |
0.77 |
0.47% |
$0.07 |
$0.21 |
6.03% |
| Corsair Gaming Inc |
94.22 |
1.40 |
0.62 |
1.85% |
$0.03 |
$0.12 |
-4.12% |
| Turtle Beach Corp |
624 |
2.21 |
0.85 |
-12.65% |
$-0.01 |
$0.01 |
-34.0% |
| Average |
109.44 |
27.34 |
14.84 |
18.36% |
$0.96 |
$1.26 |
104.96% |
Valuation and Profitability
Apple's Price to Sales (P/S) ratio of 9.73 is 0.66 times the industry average, reinforcing the possibility of undervaluation based on sales performance. The company's high ROE, EBITDA, and gross profit reflect strong profitability and efficient use of equity to generate profits. However, the low revenue growth raises concerns about future performance compared to industry peers, many of whom are experiencing triple-digit expansion.
Financial Health
Apple maintains a conservative financial structure with a debt-to-equity ratio of 0.8. This lower reliance on debt financing positions the company favorably against its top four peers in the sector. A healthier balance between debt and equity is generally viewed positively by investors, as it suggests reduced financial risk and greater stability.
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