???Growth Profitability and Financial Ratios for Apple Inc Financials ,2006-09,2007-09,2008-09,2009-09,2010-09,2011-09,2012-09,2013-09,2014-09,2015-09,TTM Revenue USD Mil,"19,315","24,006","32,479","42,905","65,225","108,249","156,508","170,910","182,795","233,715","220,288" Gross Margin %,29.0,34.0,34.3,40.1,39.4,40.5,43.9,37.6,38.6,40.1,39.5 Operating Income USD Mil,"2,453","4,409","6,275","11,740","18,385","33,790","55,241","48,999","52,503","71,230","62,886" Operating Margin %,12.7,18.4,19.3,27.4,28.2,31.2,35.3,28.7,28.7,30.5,28.5 Net Income USD Mil,"1,989","3,496","4,834","8,235","14,013","25,922","41,733","37,037","39,510","53,394","47,797" Earnings Per Share USD,0.32,0.56,0.77,1.30,2.16,3.95,6.31,5.68,6.45,9.22,8.59 Dividends USD,,,,,,,0.38,1.63,1.81,1.98,2.13 Payout Ratio %,,,,,,,,27.4,28.5,22.3,24.8 Shares Mil,"6,143","6,225","6,315","6,349","6,473","6,557","6,617","6,522","6,123","5,793","5,573" Book Value Per Share USD,1.56,2.20,3.39,5.02,7.45,11.78,16.99,19.60,20.62,22.53,23.48 Operating Cash Flow USD Mil,"2,220","5,470","9,596","10,159","18,595","37,529","50,856","53,666","59,713","81,266","63,173" Cap Spending USD Mil,-657,-986,"-1,199","-1,213","-2,121","-7,452","-9,402","-9,076","-9,813","-11,488","-13,168" Free Cash Flow USD Mil,"1,563","4,484","8,397","8,946","16,474","30,077","41,454","44,590","49,900","69,778","50,005" Free Cash Flow Per Share USD,0.21,0.63,1.33,1.41,2.54,4.59,6.31,6.46,7.73,11.82, Working Capital USD Mil,"8,038","12,657","20,598","20,049","20,956","17,018","19,111","29,628","5,083","8,768", Key Ratios -> Profitability Margins % of Sales,2006-09,2007-09,2008-09,2009-09,2010-09,2011-09,2012-09,2013-09,2014-09,2015-09,TTM Revenue,100.00,100.00,100.00,100.00,100.00,100.00,100.00,100.00,100.00,100.00,100.00 COGS,71.02,66.03,65.69,59.86,60.62,59.52,56.13,62.38,61.41,59.94,60.51 Gross Margin,28.98,33.97,34.31,40.14,39.38,40.48,43.87,37.62,38.59,40.06,39.49 SG&A,12.60,12.34,11.58,9.67,8.46,7.02,6.42,6.34,6.56,6.13,6.54 R&D,3.69,3.26,3.41,3.11,2.73,2.24,2.16,2.62,3.30,3.45,4.40 Other,,,,,,,,,,, Operating Margin,12.70,18.37,19.32,27.36,28.19,31.22,35.30,28.67,28.72,30.48,28.55 Net Int Inc & Other,1.89,2.50,1.91,0.76,0.24,0.38,0.33,0.68,0.54,0.55,0.62 EBT Margin,14.59,20.86,21.23,28.12,28.42,31.60,35.63,29.35,29.26,31.03,29.16 Profitability,2006-09,2007-09,2008-09,2009-09,2010-09,2011-09,2012-09,2013-09,2014-09,2015-09,TTM Tax Rate %,29.42,30.19,29.89,31.75,24.42,24.22,25.16,26.15,26.13,26.37,25.60 Net Margin %,10.30,14.56,14.88,19.19,21.48,23.95,26.67,21.67,21.61,22.85,21.70 Asset Turnover (Average),1.34,1.13,1.00,0.99,1.06,1.13,1.07,0.89,0.83,0.89,0.76 Return on Assets %,13.83,16.43,14.89,18.92,22.84,27.07,28.54,19.34,18.01,20.45,16.52 Financial Leverage (Average),1.72,1.74,1.88,1.50,1.57,1.52,1.49,1.68,2.08,2.43,2.42 Return on Equity %,22.80,28.52,27.19,31.27,35.28,41.67,42.84,30.64,33.61,46.25,37.90 Return on Invested Capital %,19.61,24.84,27.19,30.22,34.69,41.04,42.01,26.08,26.20,31.32,23.45 Interest Coverage,,,,,,,,369.79,140.28,99.93,52.64 Key Ratios -> Growth ,2006-09,2007-09,2008-09,2009-09,2010-09,2011-09,2012-09,2013-09,2014-09,2015-09,Latest Qtr Revenue % Year over Year,38.65,24.29,35.30,32.10,52.02,65.96,44.58,9.20,6.95,27.86,-14.61 3-Year Average,45.99,42.60,32.60,30.48,39.54,49.37,53.94,37.86,19.08,14.30, 5-Year Average,29.21,33.12,39.23,38.97,36.17,41.16,45.49,39.39,33.63,29.08, 10-Year Average,6.98,12.99,18.52,21.47,23.37,35.05,39.17,39.31,36.27,32.58, Operating Income % Year over Year,48.67,79.74,42.32,87.09,56.60,83.79,63.48,-11.30,7.15,35.67,-28.25 3-Year Average,,138.25,56.09,68.52,60.96,75.28,67.57,38.65,15.82,8.84, 5-Year Average,,203.93,,104.78,61.96,68.97,65.80,50.84,34.93,31.11, 10-Year Average,,,37.44,41.73,42.78,,124.48,,66.23,45.72, Net Income % Year over Year,48.99,75.77,38.27,70.36,70.16,84.99,60.99,-11.25,6.68,35.14, 3-Year Average,206.62,133.11,53.56,60.57,58.85,75.03,71.77,38.26,15.08,8.56, 5-Year Average,,121.89,133.93,97.22,60.03,67.11,64.20,50.27,36.84,30.67, 10-Year Average,,,31.65,29.92,33.39,,90.88,87.49,64.28,44.61, EPS % Year over Year,45.51,73.13,36.39,69.40,66.85,82.71,59.50,-9.97,13.58,42.95,-23.24 3-Year Average,188.03,122.87,50.90,58.74,56.80,72.85,69.41,37.92,17.71,13.49, 5-Year Average,,112.83,124.02,91.24,57.56,64.90,62.22,49.29,37.82,33.62, 10-Year Average,,,26.15,25.97,30.11,,85.81,82.88,62.35,45.10, Key Ratios -> Cash Flow Cash Flow Ratios,2006-09,2007-09,2008-09,2009-09,2010-09,2011-09,2012-09,2013-09,2014-09,2015-09,TTM Operating Cash Flow Growth % YOY,-12.43,146.40,75.43,5.87,83.04,101.82,35.51,5.53,11.27,36.09, Free Cash Flow Growth % YOY,-31.30,186.88,87.27,6.54,84.15,82.57,37.83,7.57,11.91,39.84, Cap Ex as a % of Sales,3.40,4.11,3.69,2.83,3.25,6.88,6.01,5.31,5.37,4.92,5.98 Free Cash Flow/Sales %,8.09,18.68,25.85,20.85,25.26,27.79,26.49,26.09,27.30,29.86,22.70 Free Cash Flow/Net Income,0.79,1.28,1.74,1.09,1.18,1.16,0.99,1.20,1.26,1.31,1.05 Key Ratios -> Financial Health Balance Sheet Items (in %),2006-09,2007-09,2008-09,2009-09,2010-09,2011-09,2012-09,2013-09,2014-09,2015-09,Latest Qtr Cash & Short-Term Investments,58.76,60.70,61.89,49.40,34.08,22.30,16.54,19.59,10.82,14.32,20.21 Accounts Receivable,7.28,15.90,11.89,10.65,13.20,10.07,10.62,9.97,11.74,10.45,6.23 Inventory,1.57,1.37,1.29,0.96,1.40,0.67,0.45,0.85,0.91,0.81,0.60 Other Current Assets,16.72,8.66,12.60,5.43,6.76,5.62,5.14,4.99,6.09,5.19,3.64 Total Current Assets,84.33,86.62,87.66,66.43,55.44,38.66,32.75,35.40,29.56,30.77,30.68 Net PP&E,7.45,7.23,6.20,6.22,6.34,6.68,8.78,8.02,8.90,7.74,8.33 Intangibles,1.15,1.66,1.24,1.18,1.44,3.81,3.04,2.78,3.78,3.10,2.87 Other Long-Term Assets,7.07,4.49,4.89,26.17,36.78,50.85,55.43,53.80,57.77,58.39,58.12 Total Assets,100.00,100.00,100.00,100.00,100.00,100.00,100.00,100.00,100.00,100.00,100.00 Accounts Payable,19.70,19.61,13.95,11.79,15.98,12.57,12.03,10.81,13.02,12.22,8.61 Short-Term Debt,,,,,,,,,2.72,3.79,5.23 Taxes Payable,,,,0.91,0.28,0.98,0.87,0.58,0.52,, Accrued Liabilities,6.92,4.97,9.40,7.20,6.45,6.97,4.76,2.52,3.32,8.67,6.81 Other Short-Term Liabilities,10.99,12.11,12.26,4.32,4.85,3.52,4.23,7.19,7.78,3.08,2.73 Total Current Liabilities,37.61,36.69,35.61,24.22,27.56,24.04,21.89,21.09,27.37,27.75,23.39 Long-Term Debt,,,,,,,,8.19,12.50,18.41,22.56 Other Long-Term Liabilities,4.36,5.98,11.25,9.17,8.87,10.13,10.97,11.03,12.02,12.76,12.64 Total Liabilities,41.97,42.67,46.86,33.39,36.43,34.16,32.86,40.31,51.89,58.91,58.59 Total Stockholders' Equity,58.03,57.33,53.14,66.61,63.57,65.84,67.14,59.69,48.11,41.09,41.41 Total Liabilities & Equity,100.00,100.00,100.00,100.00,100.00,100.00,100.00,100.00,100.00,100.00,100.00 Liquidity/Financial Health,2006-09,2007-09,2008-09,2009-09,2010-09,2011-09,2012-09,2013-09,2014-09,2015-09,Latest Qtr Current Ratio,2.24,2.36,2.46,2.74,2.01,1.61,1.50,1.68,1.08,1.11,1.31 Quick Ratio,,,,,,,,,,, Financial Leverage,1.72,1.74,1.88,1.50,1.57,1.52,1.49,1.68,2.08,2.43,2.42 Debt/Equity,,,,,,,,0.14,0.26,0.45,0.54 Key Ratios -> Efficiency Ratios Efficiency,2006-09,2007-09,2008-09,2009-09,2010-09,2011-09,2012-09,2013-09,2014-09,2015-09,TTM Days Sales Outstanding,20.29,21.96,22.81,24.60,24.82,18.34,19.01,25.66,30.51,26.79,18.30 Days Inventory,5.79,7.09,7.31,6.85,6.95,5.17,3.26,4.37,6.30,5.81,5.30 Payables Period,68.77,96.25,89.74,79.02,81.30,75.48,74.38,74.54,85.45,85.57,72.28 Cash Conversion Cycle,-42.70,-67.19,-59.61,-47.58,-49.53,-51.96,-52.13,-44.50,-48.64,-52.97,-48.68 Receivables Turnover,17.99,16.62,16.00,14.84,14.71,19.90,19.20,14.22,11.96,13.62,19.95 Inventory Turnover,63.07,51.47,49.90,53.28,52.51,70.53,112.12,83.45,57.94,62.82,68.83 Fixed Assets Turnover,18.41,15.42,15.15,15.86,16.89,17.26,13.48,10.67,9.82,10.85,9.46 Asset Turnover,1.34,1.13,1.00,0.99,1.06,1.13,1.07,0.89,0.83,0.89,0.76