Debt to Equity snapshot
Apple's debt to equity was 1.35 in FY2025, compared with 1.89 in FY2024. On a trailing-twelve-month basis it was 0.80 as of Q2 FY26. The debt-to-equity ratio is total debt divided by shareholders' equity. It measures how much a company is financed by debt relative to equity.
Debt to Equity (latest FY)
1.35
Debt to Equity (TTM)
0.80
Debt to assets (latest FY)
0.28
Net debt / EBITDA (latest FY)
0.44
Apple Debt to Equity
Total debt ÷ shareholders' equity
Debt to Equity vs. related metrics
Apple Debt to Equity — by fiscal year
| Fiscal year | Debt to equity | Debt to assets | Net debt / EBITDA |
|---|---|---|---|
| FY2025 | 1.35 | 0.28 | 0.44 |
| FY2024 | 1.89 | 0.29 | 0.58 |
| FY2023 | 1.80 | 0.32 | 0.65 |
| FY2022 | 2.39 | 0.34 | 0.75 |
| FY2021 | 1.99 | 0.36 | 0.75 |
| FY2020 | 1.73 | 0.35 | 0.97 |
| FY2019 | 1.19 | 0.32 | 0.77 |
| FY2018 | 1.07 | 0.31 | 1.08 |
| FY2017 | 0.86 | 0.31 | 1.33 |
| FY2016 | 0.68 | 0.27 | 0.94 |
| FY2015 | 0.54 | 0.22 | 0.54 |
| FY2014 | 0.32 | 0.15 | 0.35 |
| FY2013 | 0.14 | 0.08 | 0.05 |
| FY2012 | 0.00 | 0.00 | -0.18 |
| FY2011 | — | — | — |
| FY2010 | — | — | — |
| FY2009 | — | — | — |
| FY2008 | — | — | — |
| FY2007 | — | — | — |
| FY2006 | — | — | — |
By quarter (trailing-twelve-month basis)
| Quarter | Debt to equity | Debt to assets | Net debt / EBITDA |
|---|---|---|---|
| Q2 FY26 | 0.80 | 0.23 | 0.24 |
| Q1 FY26 | 1.03 | 0.24 | 0.30 |
| Q4 FY25 | 1.35 | 0.28 | 0.44 |
| Q3 FY25 | 1.54 | 0.31 | 0.46 |
| Q2 FY25 | 1.47 | 0.30 | 0.50 |
| Q1 FY25 | 1.45 | 0.28 | 0.48 |
| Q4 FY24 | 1.89 | 0.29 | 0.58 |
| Q3 FY24 | 1.52 | 0.31 | 0.57 |
| Q2 FY24 | 1.41 | 0.31 | 0.55 |
| Q1 FY24 | 1.46 | 0.31 | 0.52 |
| Q4 FY23 | 1.80 | 0.32 | 0.65 |
| Q3 FY23 | 1.81 | 0.33 | 0.65 |
Figures normalized from SEC filings. See the full Apple ratios & metrics.