Return on Invested Capital snapshot
Apple's return on invested capital was 81.5% in FY2025, compared with 69.5% in FY2024. On a trailing-twelve-month basis it was 84.0% as of Q2 FY26. Return on invested capital (ROIC) is after-tax operating profit divided by invested capital (debt plus equity, less cash). It measures the return a company earns on the total capital put to work in the business.
Return on Invested Capital (latest FY)
81.5%
Return on Invested Capital (TTM)
84.0%
Return on equity (latest FY)
151.9%
Return on assets (latest FY)
31.2%
Apple Return on Invested Capital
After-tax operating profit ÷ invested capital
Return on Invested Capital vs. related metrics
Apple Return on Invested Capital — by fiscal year
| Fiscal year | Return on invested capital | Return on equity | Return on assets |
|---|---|---|---|
| FY2025 | 81.5% | 151.9% | 31.2% |
| FY2024 | 69.5% | 164.6% | 25.7% |
| FY2023 | 67.6% | 156.1% | 27.5% |
| FY2022 | 67.6% | 197.0% | 28.3% |
| FY2021 | 61.4% | 150.1% | 27.0% |
| FY2020 | 40.4% | 87.9% | 17.7% |
| FY2019 | 35.9% | 61.1% | 16.3% |
| FY2018 | 29.6% | 55.6% | 16.3% |
| FY2017 | 20.2% | 36.1% | 12.9% |
| FY2016 | 22.9% | 35.6% | 14.2% |
| FY2015 | 32.3% | 44.7% | 18.4% |
| FY2014 | 29.2% | 35.4% | 17.0% |
| FY2013 | 28.7% | 30.0% | 17.9% |
| FY2012 | 38.5% | 35.3% | 23.7% |
| FY2011 | — | 33.8% | 22.3% |
| FY2010 | — | 29.3% | 18.6% |
| FY2009 | — | 26.0% | 17.3% |
| FY2008 | — | 27.4% | 16.9% |
| FY2007 | — | 24.1% | — |
| FY2006 | — | — | — |
By quarter (trailing-twelve-month basis)
| Quarter | Return on invested capital | Return on equity | Return on assets |
|---|---|---|---|
| Q2 FY26 | 84.0% | 115.1% | 33.0% |
| Q1 FY26 | 88.3% | 133.5% | 31.1% |
| Q4 FY25 | 81.5% | 151.9% | 31.2% |
| Q3 FY25 | 76.0% | 150.8% | 29.9% |
| Q2 FY25 | 71.3% | 145.7% | 29.4% |
| Q1 FY25 | 72.1% | 144.0% | 27.9% |
| Q4 FY24 | 69.5% | 164.6% | 25.7% |
| Q3 FY24 | 71.4% | 152.8% | 30.7% |
| Q2 FY24 | 68.8% | 135.3% | 29.8% |
| Q1 FY24 | 71.5% | 136.2% | 28.5% |
| Q4 FY23 | 67.6% | 156.1% | 27.5% |
| Q3 FY23 | 67.6% | 157.2% | 28.3% |
Figures normalized from SEC filings. See the full Apple ratios & metrics.