Apple annual debt-to-equity ratio
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Apple Debt-to-Equity Ratio Growth & History (AAPL)
Apple's debt-to-equity ratio was 1.52 for fiscal 2025.
View full Apple company overviewApple annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-09-27 | 1.52 | −0.57 | −27.10% |
| 2024 | 2024-09-28 | 2.09 | 0.10 | +4.83% |
| 2023 | 2023-09-30 | 1.99 | −0.62 | −23.73% |
| 2022 | 2022-09-24 | 2.61 | 0.45 | +20.82% |
| 2021 | 2021-09-25 | 2.16 | 0.29 | +15.63% |
| 2020 | 2020-09-26 | 1.87 | 0.68 | +56.73% |
| 2019 | 2019-09-28 | 1.19 | 0.13 | +11.75% |
| 2018 | 2018-09-29 | 1.07 | 0.21 | +23.81% |
| 2017 | 2017-09-30 | 0.86 | 0.18 | +27.17% |
| 2016 | 2016-09-24 | 0.68 | 0.14 | +25.91% |
| 2015 | 2015-09-26 | 0.54 | 0.22 | +70.34% |
| 2014 | 2014-09-27 | 0.32 | 0.18 | +130.50% |
| 2013 | 2013-09-28 | 0.14 | 0.14 | — |
| 2012 | 2012-09-29 | 0.00 | — | — |
Apple quarterly debt-to-equity ratio
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| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q3 2026 | 2026-06-27 | 0.78 | −0.76 | −49.22% |
| Q2 2026 | 2026-03-28 | 0.80 | −0.67 | −45.88% |
| Q1 2026 | 2025-12-27 | 1.03 | −0.42 | −29.22% |
| Q4 2025 | 2025-09-27 | 1.52 | −0.57 | −27.10% |
| Q3 2025 | 2025-06-28 | 1.54 | 0.03 | +1.73% |
| Q2 2025 | 2025-03-29 | 1.47 | 0.06 | +4.27% |
| Q1 2025 | 2024-12-28 | 1.45 | −0.01 | −0.55% |
| Q4 2024 | 2024-09-28 | 2.09 | 0.10 | +4.83% |
| Q3 2024 | 2024-06-29 | 1.52 | −0.29 | −16.24% |
| Q2 2024 | 2024-03-30 | 1.41 | −0.35 | −20.06% |
| Q1 2024 | 2023-12-30 | 1.46 | −0.50 | −25.56% |
| Q4 2023 | 2023-09-30 | 1.99 | −0.62 | −23.73% |
| Q3 2023 | 2023-07-01 | 1.81 | −0.25 | −11.98% |
| Q2 2023 | 2023-04-01 | 1.76 | −0.02 | −0.94% |
| Q1 2023 | 2022-12-31 | 1.96 | 0.25 | +14.73% |
| Q4 2022 | 2022-09-24 | 2.61 | 0.45 | +20.82% |
| Q3 2022 | 2022-06-25 | 2.06 | 0.17 | +8.72% |
| Q2 2022 | 2022-03-26 | 1.78 | 0.02 | +1.24% |
| Q1 2022 | 2021-12-25 | 1.71 | 0.02 | +0.90% |
| Q4 2021 | 2021-09-25 | 2.16 | 0.29 | +15.63% |
| Q3 2021 | 2021-06-26 | 1.89 | 0.36 | +23.36% |
| Q2 2021 | 2021-03-27 | 1.76 | 0.37 | +26.83% |
| Q1 2021 | 2020-12-26 | 1.69 | 0.39 | +29.74% |
| Q4 2020 | 2020-09-26 | 1.87 | 0.68 | +56.73% |
| Q3 2020 | 2020-06-27 | 1.54 | 0.41 | +36.65% |
| Q2 2020 | 2020-03-28 | 1.39 | 0.32 | +30.31% |
| Q1 2020 | 2019-12-28 | 1.30 | 0.33 | +34.00% |
| Q4 2019 | 2019-09-28 | 1.19 | 0.13 | +11.75% |
| Q3 2019 | 2019-06-29 | 1.12 | 0.13 | +12.74% |
| Q2 2019 | 2019-03-30 | 1.06 | 0.10 | +10.79% |
| Q1 2019 | 2018-12-29 | 0.97 | 0.10 | +11.47% |
| Q4 2018 | 2018-09-29 | 1.07 | 0.21 | +23.81% |
| Q3 2018 | 2018-06-30 | 1.00 | 0.18 | +21.86% |
| Q2 2018 | 2018-03-31 | 0.96 | 0.23 | +30.69% |
| Q1 2018 | 2017-12-30 | 0.87 | 0.21 | +32.02% |
| Q4 2017 | 2017-09-30 | 0.86 | 0.18 | +27.17% |
| Q3 2017 | 2017-07-01 | 0.82 | 0.15 | +21.89% |
| Q2 2017 | 2017-04-01 | 0.73 | 0.12 | +20.02% |
| Q1 2017 | 2016-12-31 | 0.66 | 0.17 | +34.72% |
| Q4 2016 | 2016-09-24 | 0.68 | 0.14 | +25.91% |
| Q3 2016 | 2016-06-25 | 0.67 | 0.24 | +55.01% |
| Q2 2016 | 2016-03-26 | 0.61 | 0.27 | +80.04% |
| Q1 2016 | 2015-12-26 | 0.49 | 0.20 | +66.30% |
| Q4 2015 | 2015-09-26 | 0.54 | 0.22 | +70.34% |
| Q3 2015 | 2015-06-27 | 0.43 | 0.18 | +68.71% |
| Q2 2015 | 2015-03-28 | 0.34 | 0.20 | +140.95% |
| Q1 2015 | 2014-12-27 | 0.30 | 0.16 | +125.69% |
| Q4 2014 | 2014-09-27 | 0.32 | 0.18 | +130.50% |
| Q3 2014 | 2014-06-28 | 0.26 | 0.12 | +86.69% |
| Q2 2014 | 2014-03-29 | 0.14 | 0.14 | — |
| Q1 2014 | 2013-12-28 | 0.13 | 0.13 | — |
| Q4 2013 | 2013-09-28 | 0.14 | 0.14 | — |
| Q3 2013 | 2013-06-29 | 0.14 | — | — |
| Q2 2013 | 2013-03-30 | 0.00 | — | — |
| Q1 2013 | 2012-12-29 | 0.00 | — | — |
| Q4 2012 | 2012-09-29 | 0.00 | — | — |
Apple debt-to-equity ratio trends
Over the last five fiscal years, Apple's debt-to-equity ratio decreased from 1.87 to 1.52, a change of −0.35. The latest reported quarter, Q3 2026, shows 0.78.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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