Gross Margin snapshot
Apple's gross margin was 46.9% in FY2025, compared with 46.2% in FY2024. On a trailing-twelve-month basis it was 47.9% as of Q2 FY26. Gross margin is gross profit divided by revenue — the share of sales left after the direct cost of producing goods or services. It shows how much a company keeps from each dollar of sales before operating expenses.
Gross Margin (latest FY)
46.9%
Gross Margin (TTM)
47.9%
Operating margin (latest FY)
32.0%
Net margin (latest FY)
26.9%
Apple Gross Margin
Gross profit ÷ revenue
Gross Margin vs. related metrics
Apple Gross Margin — by fiscal year
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2025 | 46.9% | 32.0% | 26.9% |
| FY2024 | 46.2% | 31.5% | 24.0% |
| FY2023 | 44.1% | 29.8% | 25.3% |
| FY2022 | 43.3% | 30.3% | 25.3% |
| FY2021 | 41.8% | 29.8% | 25.9% |
| FY2020 | 38.2% | 24.1% | 20.9% |
| FY2019 | 37.8% | 24.6% | 21.2% |
| FY2018 | 38.3% | 26.7% | 22.4% |
| FY2017 | 38.5% | 26.8% | 21.1% |
| FY2016 | 39.1% | 27.8% | 21.2% |
| FY2015 | 40.1% | 30.5% | 22.8% |
| FY2014 | 38.6% | 28.7% | 21.6% |
| FY2013 | 37.6% | 28.7% | 21.7% |
| FY2012 | 43.9% | 35.3% | 26.7% |
| FY2011 | 40.5% | 31.2% | 23.9% |
| FY2010 | 39.4% | 28.2% | 21.5% |
| FY2009 | 40.1% | 27.4% | 19.2% |
| FY2008 | 35.2% | 22.2% | 16.3% |
| FY2007 | 34.0% | 18.4% | 14.6% |
| FY2006 | — | — | — |
By quarter (trailing-twelve-month basis)
| Quarter | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| Q2 FY26 | 47.9% | 32.6% | 27.2% |
| Q1 FY26 | 47.3% | 32.4% | 27.0% |
| Q4 FY25 | 46.9% | 32.0% | 26.9% |
| Q3 FY25 | 46.7% | 31.9% | 24.3% |
| Q2 FY25 | 46.6% | 31.8% | 24.3% |
| Q1 FY25 | 46.5% | 31.8% | 24.3% |
| Q4 FY24 | 46.2% | 31.5% | 24.0% |
| Q3 FY24 | 46.0% | 31.3% | 26.4% |
| Q2 FY24 | 45.6% | 31.0% | 26.3% |
| Q1 FY24 | 45.0% | 30.8% | 26.2% |
| Q4 FY23 | 44.1% | 29.8% | 25.3% |
| Q3 FY23 | 43.4% | 29.2% | 24.7% |
Figures normalized from SEC filings. See the full Apple ratios & metrics.