Return on Capital Employed snapshot
Apple's return on capital employed was 68.7% in FY2025, compared with 65.3% in FY2024. On a trailing-twelve-month basis it was 62.3% as of Q2 FY26. Return on capital employed (ROCE) is operating income divided by capital employed (total assets less current liabilities). It measures operating return relative to long-term capital.
Return on Capital Employed (latest FY)
68.7%
Return on Capital Employed (TTM)
62.3%
Return on equity (latest FY)
151.9%
Return on invested capital (latest FY)
81.5%
Apple Return on Capital Employed
Operating income ÷ (total assets − current liabilities)
Return on Capital Employed vs. related metrics
Apple Return on Capital Employed — by fiscal year
| Fiscal year | Return on capital employed | Return on equity | Return on invested capital |
|---|---|---|---|
| FY2025 | 68.7% | 151.9% | 81.5% |
| FY2024 | 65.3% | 164.6% | 69.5% |
| FY2023 | 55.1% | 156.1% | 67.6% |
| FY2022 | 60.1% | 197.0% | 67.6% |
| FY2021 | 48.3% | 150.1% | 61.4% |
| FY2020 | 30.3% | 87.9% | 40.4% |
| FY2019 | 27.5% | 61.1% | 35.9% |
| FY2018 | 28.4% | 55.6% | 29.6% |
| FY2017 | 22.3% | 36.1% | 20.2% |
| FY2016 | 24.7% | 35.6% | 22.9% |
| FY2015 | 34.0% | 44.7% | 32.3% |
| FY2014 | 31.2% | 35.4% | 29.2% |
| FY2013 | 30.0% | 30.0% | 28.7% |
| FY2012 | 40.2% | 35.3% | 38.5% |
| FY2011 | 38.2% | 33.8% | — |
| FY2010 | 33.8% | 29.3% | — |
| FY2009 | 32.6% | 26.0% | — |
| FY2008 | 37.7% | 27.4% | — |
| FY2007 | — | 24.1% | — |
| FY2006 | — | — | — |
By quarter (trailing-twelve-month basis)
| Quarter | Return on capital employed | Return on equity | Return on invested capital |
|---|---|---|---|
| Q2 FY26 | 62.3% | 115.1% | 84.0% |
| Q1 FY26 | 65.0% | 133.5% | 88.3% |
| Q4 FY25 | 68.7% | 151.9% | 81.5% |
| Q3 FY25 | 68.4% | 150.8% | 76.0% |
| Q2 FY25 | 68.2% | 145.7% | 71.3% |
| Q1 FY25 | 62.9% | 144.0% | 72.1% |
| Q4 FY24 | 65.3% | 164.6% | 69.5% |
| Q3 FY24 | 60.3% | 152.8% | 71.4% |
| Q2 FY24 | 55.4% | 135.3% | 68.8% |
| Q1 FY24 | 54.0% | 136.2% | 71.5% |
| Q4 FY23 | 55.1% | 156.1% | 67.6% |
| Q3 FY23 | 53.4% | 157.2% | 67.6% |
Figures normalized from SEC filings. See the full Apple ratios & metrics.