Apple Inc. (AAPL)
Here you can check the main factor values on which we base all our company scores.
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Free cash flow to the firm
Billion USD (109)
The cash flow available to all the company suppliers of capital (stockholders, preferred stockholders and debtholders) after deducting all operating, working capital and fixed capital expenses. This factor is a flow balance measured over an accounting period (a single year). –
Free cash flow to the firm (7 acct. periods)
Billion USD (109)
Simple moving average of the free cash flow to the firm (FCFF) factor value over the last 7 accounting periods. –
Free cash flow to equity
Billion USD (109)
The cash flow available to the company stockholders after deducting all operating expenses, working capital expenses, fixed capital expenses, and interest and principal payments of debt and preferred stocks. This factor is a flow balance measured over an accounting period (a single year). –
Free cash flow to equity (7 acct. periods)
Billion USD (109)
Simple moving average of the free cash flow to equity (FCFE) factor value over the last 7 accounting periods. –
Free cash flow to equity ex borrowings
Billion USD (109)
The cash flow available to the company stockholders, net of debt repayments and borrowings, after deducting all operating expenses, working capital expenses, fixed capital expenses, and interest and principal payments of debt and preferred stocks. This factor is a flow balance measured over an accounting period (a single year). –
Free cash flow to equity ex borrowings (7 acct. periods)
Billion USD (109)
Simple moving average of the free cash flow to equity ex borrowings factor value over the last 7 accounting periods. –
Free earnings
Billion USD (109)
Net income before depreciation and amortization adjusted by a proxy of maintenance capex.This factor reflects more accurately than net income the resources generated by the company. It is a factor that is halfway between the net income figure (accrual method) and free cash flow factor (cash method). –
Free earnings (7 acct. periods)
Billion USD (109)
Simple moving average of the free earnings factor value over the last 7 accounting periods. –
Graham/Sonkin PER (7 acct. periods)
A more sophisticated PER factor based on ideas from B. Graham and Paul Sonkin. The market cap is calculated excluding net liquid assets, and instead of current earnings, the factor uses the simple moving average of the firm's free cash flow to equity (FCFE) over the last 7 accounting periods but excluding the non-operational interest income. –
FCFE appraisement (7 acct. periods)
Billion USD (109)
Company valuation factor based on the simple moving average of its free cash flow to equity (FCFE) over the last 7 account periods. The free cash flow average is capitalized using a proxy for the natural interest rate. The average interest income of the company (if any) is capitalized using a proxy for the interest rates of sovereign debt and monetary markets. –
FCFE appraisement w/ growth (7 acct. periods)
Trillion USD (1012)
Company valuation factor based on the simple moving average of its free cash flow to equity (FCFE) over the last 7 account periods. The free cash flow average is capitalized using a proxy for the natural interest rate and an estimate of the company's growth based on the average of the proxy growth factor for the last 7 periods. The average interest income of the company (if any) is capitalized using a proxy for the interest rates of sovereign debt and monetary markets. –
P/FV(FCFE) (7 acct. periods)
Company's market capitalization in relation to the capitalization of the simple moving average of its free cash flow to equity (FCFE) over the last 7 account periods. This factor value indicates units of magnitude above or below the fair market price value of 1. Values above 1 indicate overaluation. Values below 1 indicate undervaluation. –
P/FV(FCFE+growth) (7 acct. periods)
Company's market capitalization in relation to the capitalization, including the growth proxy, of the simple moving average of its free cash flow to equity (FCFE) over the last 7 account periods. This factor value indicates units of magnitude above or below the fair market price value of 1. Values above 1 indicate overaluation. Values below 1 indicate undervaluation. –
FCFF appraisement (7 acct. periods)
Billion USD (109)
Company valuation factor based on the simple moving average of its free cash flow to the firm (FCFF) over the last 7 account periods. The free cash flow average is capitalized using a proxy for the natural interest rate and an estimate of the company's growth based on the average of the proxy growth factor for the last 7 periods. The average interest income of the company (if any) is capitalized using a proxy for the interest rates of sovereign debt and monetary markets. –
FCFF appraisement w/ growth (7 acct. periods)
Trillion USD (1012)
Company valuation factor based on the simple moving average of its free cash flow to the firm (FCFF) over the last 7 account periods. The free cash flow average is capitalized, including the growth proxy, using a proxy for the natural interest rate and an estimate of the company's growth based on the average of the proxy growth factor for the last 7 periods. The average interest income of the company (if any) is capitalized using a proxy for the interest rates of sovereign debt and monetary markets. –
EV/FCFF (7 acct. periods)
Size-weighted average enterprise value (EV) in relation to the size-weighted moving average (7 years) free cash flow to the firm (FCFF) of the company. –
Free earnings power appraisement (7 acct. periods)
Billion USD (109)
Company valuation factor based on the capitalization of its simple moving average of the free earnings (EPA - Earnings Power Appraisement) over the last 7 account periods. The free earnings average are capitalized using a proxy for the natural interest rate. The average interest income of the company (if any) is capitalized using a proxy for the interest rates of sovereign debt and monetary markets. –
Free earnings+growth power appraisement (7 acct. periods)
n/a
Company valuation factor based on the capitalization, including the growth proxy, of its simple moving average of the free earnings (EPA - Earnings Power Appraisement) over the last 7 account periods. The free earnings average are capitalized using a proxy for the natural interest rate. The average interest income of the company (if any) is capitalized using a proxy for the interest rates of sovereign debt and monetary markets. –
P/FV(EPA) (7 acct. periods)
Company's market cap (P) in relation to the capitalization of the simple moving average of its free earnings (earnings calculated using capex instead of D&A) over the last 7 account periods. This factor value indicates units of magnitude above or below the fair market price value of 1. Values above 1 indicate overaluation. Values below 1 indicate undervaluation. –
P/FV(EPA+growth) (7 acct. periods)
Company's market cap (P) in relation to the capitalization, including the growth proxy, of the simple moving average of its free earnings (earnings calculated using capex instead of D&A) over the last 7 account periods. This factor value indicates units of magnitude above or below the fair market price value of 1. Values above 1 indicate overaluation. Values below 1 indicate undervaluation. –
P/FV(NCA)
Company's market capitalization (P) in relation to its fair value (FV) calculated using its actual net current assets (NCA). This factor value indicates units of magnitude above or below the fair market price value of 1. Values above 1 indicate overaluation. Values below 1 indicate undervaluation. –
P/FV(NTA)
Company's market capitalization (P) in relation to its fair value (FV) calculated using its actual net tangible assets (NTA). This factor value indicates units of magnitude above or below the fair market price value of 1. Values above 1 indicate overaluation. Values below 1 indicate undervaluation. –
Implied investment price
USD
The company's fair value per share based on the simple moving average of its free cash flow to equity (FCFE) over the last 7 account periods. The free cash flow average is capitalized using a proxy for the natural interest rate. The average interest income of the company (if any) is capitalized using a proxy for the interest rates of sovereign debt and monetary markets. –
Firm free cash return on invested capital %
Relation, in percentage points, between the free cash flow to equity (FCFE) and the firm invested capital. The invested capital is defined as total assets of the firm excluding its surplus cash and commercial liabilities. –
Firm free cash return on invested capital % (7 acct. periods)
Simple moving average of the firm free cash return on invested capital factor value over the last 7 accounting periods. –
Free cash return on equity %
Relation, in percentage points, between the free cash flow to equity (FCFE) and the firm equity. –
Free cash return on equity % (7 acct. periods)
Simple moving average of the firm free cash return on equity factor value over the last 7 accounting periods. –
Free cash margin %
Relation, in percentage points, between the free cash flow to equity (FCFE) and its net ordinary revenue. –
Free cash margin % (7 acct. periods)
Simple moving average of the firm free cash margin factor value over the last 7 accounting periods. –
Adjusted firm return on invested capital %
Relation, in percentage points, between the firm adjusted earnings and its invested capital. Adjusted earnings defined as the primary ordinary result before tax and the extraordinary result before tax. The invested capital is defined as total assets of the firm excluding its surplus cash and commercial liabilities. –
Adjusted firm return on invested capital % (7 acct. periods)
Simple moving average of the adjusted firm return on invested capital factor value over the last 7 accounting periods. –
Adjusted return on equity %
Relation, in percentage points, between the firm adjusted earnings and its equity. Adjusted earnings defined as the primary ordinary result before tax and the extraordinary result before tax. –
Adjusted return on equity % (7 acct. periods)
Simple moving average of the adjusted firm return on equity factor value over the last 7 accounting periods. –
Adjusted operating margin %
Relation, in percentage points, between the firm adjusted earnings and its ordinary revenue. Adjusted earnings defined as the primary ordinary result before tax and the extraordinary result before tax. –
Adjusted operating margin % (7 acct. periods)
Simple moving average of the adjusted operating margin factor value over the last 7 accounting periods. –
Adjusted return on assets %
Relation, in percentage points, between the firm adjusted earnings and its total assets. Adjusted earnings defined as the primary ordinary result before tax and the extraordinary result before tax. –
Adjusted return on assets % (7 acct. periods)
Simple moving average of the adjusted return on assets factor value over the last 7 accounting periods. –
Operating cash flow margin %
Relation, in percentage points, between the firm operating cash flow and its ordinary revenue. –
Operating cash flow margin % (7 acct. periods)
Simple moving average of the operating cash flow margin factor value over the last 7 accounting periods. –
Net income margin %
Relation, in percentage points, between the firm periodical external result and its ordinary revenue. –
Net income margin % (7 acct. periods)
Simple moving average of the net income margin factor value over the last 7 accounting periods. –
Sales per employee
Million USD (106)
Relation between the firm ordinary revenue and its number of employees. –
Equity Internal Rate of Return %
Relation between the simple moving average of the firm free earnings over the last 10 accounting periods and its market capitalization. –
Equity Internal Rate of Return % (with growth)
Relation between the simple moving average of the firm free earnings over the last 10 accounting periods and its market capitalization, considering the firm's growth proxy over the last 10 accounting periods. –
Dynamic solvency coefficient
A measure of the firm's ability to generate funds on a regular basis to meet all its financial commitments for the year. It is calculated as the ratio between free cash flow to the firm (FCFF) and the amortization of debt and committed dividends for the fiscal year. Values greater than 1 indicate that the funds generated are sufficient. Values below 1 are an indication of technical insolvency. –
Average dynamic solvency coefficient (7 acct. periods)
Single exponential moving average of the firm dynamic solvency coefficient factor value over the last 7 accounting periods. –
Minimum dynamic solvency coefficient
Calculated as the dynamic solvency ratio factor but without considering the dividend as a financial commitment of the company during the fiscal year. If the company does not distribute dividends, its value will be the same as the dynamic solvency ratio. –
Average minimum dynamic solvency coefficient (7 acct. periods)
Single exponential moving average of the firm minimum dynamic solvency coefficient factor value over the last 7 accounting periods. –
Leverage
Ratio between cyclical libilities an non-cyclical liabilities (equity). –
Leverage (ex commercial liabs)
Ratio between cyclical libilities, excluding commercial liabilities, an non-cyclical liabilities (equity). –
Correlation betw amortizations (ratio)
Ratio between long-cycle assets and long-cycle liabilities. If >1 then funds generated thru the long-cycle assets amortization are enough to cover the amortization/payments of the firm's long-cycle liabilites. –
Max. financial dependency ratio
Ratio between the firm's cyclical liabilities and its total assets. –
Max. financial dependency ratio (ex commercial liabs)
Ratio between the firm's cyclical liabilities, excluding commercial liabilities, and its total assets. –
Guaranty coefficient
Ratio between the firm's non-cyclical liabilities (equity) and its total assets. –
Capitalization structure - debt ratio
Ratio between the firm's cyclical liabilities (debt) and its total assets (equivalent to the max. financial dependency ratio factor). –
Capitalization structure - preferred capital ratio
Ratio between the firm's preferred capital and its total assets. –
Capitalization structure - share capital ratio
Ratio between the firm's non-cyclical liabilities (equity), excluding its preferred capital value, and its total assets. –
Net liquidity (ratio)
Ratio between the firm's liquid assets and its non-commercial short term liabilities. If >1 then there are enough liquid assets to cover all the non-commercial short term liabilities, i.e., there is short-term solvency expectancy. A value <1 means that this short-term liabilities are financing assets that don't generate funds in the short-term. –
Working capital
Billion USD (109)
The part of the short-term assets that are financed with long-term liabilities (including equity). –
Permanent financing needs
Billion USD (109)
The part of the firm's commercial assets that are not financed with commercial liabilities. –
Permanent assets coverage prm (ratio)
This factor measures whether the firm's non-cyclical liabilities (equity), once it finances the activity (permanent financing needs), are sufficient (>1) or not sufficient (<1) to finance its permanent assets (non-cyclical assets). –
Free cash flow steadiness proxy (5 acct. periods)
Stability of the free cash flow to the firm factor values. The proxy used to measure the stability is based on the discrete total variation of the factor, relative to its mean, over a 7 year window period. –
Free earnings steadiness proxy (7 acct. periods)
Stability of the free earnings factor values. The proxy used to measure the stability is based on the discrete total variation of the factor, relative to its mean, over a 7 year window period. –
Operating cash flow steadiness proxy (7 acct. periods)
Stability of the operating cash flow factor values. The proxy used to measure the stability is based on the discrete total variation of the factor, relative to its mean, over a 7 year window period. –
Earnings steadiness proxy (7 acct. periods)
Stability of the earnings factor values. The proxy used to measure the stability is based on the discrete total variation of the factor, relative to its mean, over a 7 year window period. –
Dividend payments steadiness proxy (7 acct. periods)
Stability of the divident payments factor values. The proxy used to measure the stability is based on the discrete total variation of the factor, relative to its mean, over a 7 year window period. –
Growth proxy %
A proxy for the company annual growth in percentage points based in the growth in its ordinary revenue and free cash flow to the firm factors. –
Growth proxy % (7 acct. periods)
Single exponential moving average of the firm growth proxy factor value over the last 7 accounting periods. –
FCFE growth %
Annual growth, in percentage points, of the free cash flow to equity (FCFE) factor. –
FCFE growth % (7 acct. periods)
Single exponential moving average of the firm free cash flow to equity (FCFE) growth factor value over the last 7 accounting periods. –
FCFF growth %
Annual growth, in percentage points, of the free cash flow to the firm (FCFF) factor. –
FCFF growth % (7 acct. periods)
Single exponential moving average of the free cash flow to the firm (FCFF) growth factor value over the last 7 accounting periods. –
Ordinary revenue growth %
Annual growth, in percentage points, of the firm's ordinary revenue. –
Ordinary revenue growth % (7 acct. periods)
Single exponential moving average of the firm's ordinary revenue growth factor value over the last 7 accounting periods. –
Operating cash flow growth %
Annual growth, in percentage points, of the firm's net cash from operating activities. –
Operating cash flow growth % (7 acct. periods)
Single exponential moving average of the firm's operating cash flow growth factor value over the last 7 accounting periods. –
Operating income growth %
Annual growth, in percentage points, of the firm's primary ordinary result before tax (operating income). –
Operating income growth % (7 acct. periods)
Single exponential moving average of the firm's operating income growth factor value over the last 7 accounting periods. –
Market capitalization
Trillion USD (1012)
The total price of all the quoted shares of the company. Calculated as shares outstanding times share price. –
Secondary market liquidity - daily
Billion USD (109)
The 10-day average, in monetary units, of the daily firm's stock volume traded in the secondary martket. –
Effective tax rate %
The relation between the exponential moving average of the income tax provision over the last 5 accounting period and the current periodical external result of the firm (net income). –