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