What is Apple's forward P/E?

Apple's forward P/E is 36.59: today's price over the analysts' average EPS estimate for the next twelve months, the earnings expected rather than those reported. By fiscal year, it trades at 37.1 times its FY2027 earnings and 33.5 times its FY2028 earnings.

What is Apple's PEG ratio?

Apple's PEG ratio is 5.11: its P/E of 38.90 over the 7.6% a year the analysts expect its earnings per share to grow from FY2026 to FY2031. Around 1 is often read as a P/E in line with the growth; above it, the price asks for more.

Apple
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AAPL

Arincen ScoreBeta83/100

83/100B

350.49

USD

8.13

(2.37%)

Market Closed

Last updated: 9 Nov, 19:32 GMT-5 · Delayed 15 min

Fair value282.74Plus+24%183Price 350.49383

Q1 FY2027 · Earnings report

EPS estimate 2.96Revenue estimate 156.04B

Q1 FY2027 · Earnings report

Thursday 4 February

EPS estimate 2.96Revenue estimate 156.04B

Fair value282.74Plus+24%183Price 350.49383

Q1 FY2027 · Earnings report

EPS estimate 2.96Revenue estimate 156.04B

Q1 FY2027 · Earnings report

Thursday 4 February

EPS estimate 2.96Revenue estimate 156.04B

Overview Financials Signals News Forecast Earnings Dividends Company

Apple P/E ratioWhat is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.

Apple's P/E ratio is 38.90: its share price of 350.49 over its earnings per share of 9.01 over the last twelve months.

Today: 38.90
Forward P/E, next 12 months: 36.59
PEG ratio: 5.11
Median, 5 years: 31.38
Low, 5 years: 20.36
High, 5 years: 42.55

P/E ratio = price ÷ EPS (last 12 months) = 350.49 ÷ 9.01 = 38.90

Each day's closing price over the earnings per share of the last four quarters reported by that day (basic EPS, adjusted for splits). The P/E moves with the price every day and with the earnings at each report.

The forward P/E divides the price by the analysts' average EPS estimate for the next twelve months: the fiscal year in progress for the months left in it, the next one for the rest. For past days it uses each year's latest estimate, as the estimates of the time were not recorded (we keep a daily copy from November 2026), so the past line reads the price against the earnings expected by the time each year was reported.

Is Apple's P/E high compared with its own history?Is the P/E high or low for this stock? Today's P/E against every daily P/E of the stock's last 5 years, with the growth analysts expect: whether the stock is expensive or cheap compared with itself, and whether its growth explains it.

Apple's P/E of 38.9 is near the top of its 5-year range (20.4 to 42.6, median 31.4). Analysts do not expect faster growth than in recent years, so it is expensive compared with its own history.

5-year range of the daily P/E

Median 31.4

Today 38.9

20.4

42.6

The price against its P/E range

At its 5-year high P/E (42.6)At its median P/E (31.4)At its 5-year low P/E (20.4)Price

Each line is the earnings per share of the day times one P/E of the last five years: the price near the top line is near the most it was paid for those earnings, near the bottom line the least.

Growth a year: the past against what analysts expect

EPSSlower
Expected, to FY2029 8.2%Past 5 years 9.9%Past 3 years 13.6%
RevenueAbout the same
Expected, to FY2029 7.3%Past 5 years 5.5%Past 3 years 7.7%

	Past 5 years	Past 3 years	Expected, to FY2029	Expected against the past
EPS	9.9%	13.6%	8.2%	Slower
Revenue	5.5%	7.7%	7.3%	About the same

Buyers pay more for each point of growth than usual: a PEG of 4.8 on expected growth against 3.2 on its median P/E and past five years' growth.

What changed in 5 years

Debt is lower than in FY2021: 0.5 times EBITDA against 1.1.
Buybacks: EPS grew ⁦9.9%⁩ a year since FY2021 against ⁦6.9%⁩ for net income; the falling share count added about 3.0 points a year.
Operating margin is higher than in FY2021: ⁦33.0%⁩ against ⁦29.8%⁩.
Unusual tax: FY2024 at ⁦24.1%⁩ against a usual ⁦15.9%⁩, which moves that year's profit and the P/E readings that include it.
Service grew from ⁦18.7%⁩ of revenue in FY2021 to ⁦25.8%⁩ in FY2026.
Since 10 November 2021 the price has changed ⁦+136.9%⁩: earnings per share ⁦+58.9%⁩ and the P/E ⁦+49.1%⁩.

Is the price fair? See the whole check

A P/E is compared with the stock's own last five years, not with other companies. Why the market pays more or less (news, rates, the sector) is not in these figures.

P/E ratio by year and by quarter

Fiscal year	Period ending	P/E ratio	Forward P/E	Market cap	Net income
FY2028 · Estimate	26 Sept 2028	33.52	—	—	—
FY2027 · Estimate	26 Sept 2027	37.06	—	—	—
Today		38.90	36.59	5.12T	132.18B
FY2026	26 Sept 2026	37.83	36.07	5.00T	132.18B
FY2025	27 Sept 2025	34.09	28.92	3.82T	112.01B
FY2024	28 Sept 2024	37.29	30.88	3.50T	93.74B
FY2023	30 Sept 2023	27.79	26.63	2.70T	97.00B
FY2022	24 Sept 2022	24.44	24.86	2.44T	99.80B
FY2021	25 Sept 2021	25.92	24.10	2.45T	94.68B
FY2020	26 Sept 2020	33.94	20.04	1.95T	57.41B
FY2019	28 Sept 2019	18.29	16.86	1.01T	55.26B
FY2018	29 Sept 2018	18.79	19.33	1.12T	59.53B
FY2017	30 Sept 2017	16.63	13.12	804.08B	48.35B
FY2016	24 Sept 2016	13.50	12.54	616.67B	45.69B
FY2015	26 Sept 2015	12.36	13.87	660.03B	53.39B
FY2014	27 Sept 2014	15.52	11.05	613.18B	39.51B
FY2013	28 Sept 2013	12.06	11.93	446.68B	37.04B
FY2012	29 Sept 2012	14.95	17.32	623.75B	41.73B
FY2011	24 Sept 2011	14.42	9.09	373.70B	25.92B
FY2010	25 Sept 2010	18.97	13.07	265.85B	14.01B
FY2009	26 Sept 2009	19.77	15.16	162.78B	8.24B
FY2008	27 Sept 2008	18.48	24.77	113.06B	6.12B
FY2007	29 Sept 2007	37.95	37.82	132.66B	3.50B
FY2006	30 Sept 2006	32.68	26.19	64.99B	1.99B
FY2005	24 Sept 2005	32.39	18.12	43.01B	1.33B
FY2004	25 Sept 2004	52.09	12.14	13.86B	266.00M
FY2003	27 Sept 2003	109.73	73.89	7.46B	68.00M
FY2002	28 Sept 2002	80.40	69.20	5.23B	65.00M
FY2001	29 Sept 2001	—	69.20	5.36B	-37.00M
FY2000	30 Sept 2000	10.63	69.20	8.36B	786.00M
FY1999	25 Sept 1999	15.47	69.20	9.30B	601.00M
FY1998	25 Sept 1998	16.55	69.20	5.11B	309.00M
FY1997	26 Sept 1997	—	38.05	2.69B	-1.05B
FY1996	27 Sept 1996	—	39.84	2.76B	-816.00M
FY1995	29 Sept 1995	10.81	—	4.58B	424.00M
FY1994	30 Sept 1994	12.90	—	4.00B	310.00M
FY1993	30 Sept 1993	32.01	—	2.78B	87.00M
FY1992	30 Sept 1992	10.42	—	5.53B	530.37M
FY1991	30 Sept 1991	19.19	—	5.94B	309.80M
FY1990	30 Sept 1990	8.07	—	3.83B	474.90M
FY1989	30 Sept 1989	12.57	—	5.71B	454.00M
FY1988	30 Sept 1988	14.04	—	5.62B	400.30M
FY1987	30 Sept 1987	34.04	—	7.40B	217.50M
FY1986	30 Sept 1986	13.96	—	2.15B	154.00M
FY1985	30 Sept 1985	15.75	—	963.89M	61.20M

Quarter	Period ending	P/E ratio	Forward P/E	Market cap	Net income
Q4 FY2026	26 Sept 2026	37.60	36.07	4.97T	132.18B
Q3 FY2026	27 Jun 2026	32.26	30.25	4.16T	128.93B
Q2 FY2026	28 Mar 2026	29.78	27.18	3.65T	122.58B
Q1 FY2026	27 Dec 2025	34.24	30.38	4.03T	117.78B
Q4 FY2025	27 Sept 2025	33.79	28.92	3.78T	112.01B
Q3 FY2025	28 Jun 2025	30.18	23.74	3.00T	99.28B
Q2 FY2025	29 Mar 2025	33.58	26.87	3.27T	97.29B
Q1 FY2025	28 Dec 2024	40.09	33.02	3.85T	96.15B
Q4 FY2024	28 Sept 2024	36.87	30.88	3.46T	93.74B
Q3 FY2024	29 Jun 2024	31.58	29.49	3.22T	101.96B
Q2 FY2024	30 Mar 2024	26.32	24.85	2.64T	100.39B
Q1 FY2024	30 Dec 2023	29.59	28.88	2.99T	100.91B
Q4 FY2023	30 Sept 2023	27.54	26.63	2.67T	97.00B
Q3 FY2023	1 Jul 2023	32.13	30.59	3.04T	94.76B
Q2 FY2023	1 Apr 2023	27.60	26.41	2.60T	94.32B
Q1 FY2023	31 Dec 2022	21.70	21.12	2.06T	95.17B
Q4 FY2022	24 Sept 2022	24.16	24.86	2.41T	99.80B
Q3 FY2022	25 Jun 2022	22.98	23.35	2.29T	99.63B
Q2 FY2022	26 Mar 2022	27.90	28.72	2.84T	101.94B
Q1 FY2022	25 Dec 2021	28.74	28.94	2.89T	100.56B
Q4 FY2021	25 Sept 2021	25.58	24.10	2.42T	94.68B
Q3 FY2021	26 Jun 2021	25.50	22.28	2.21T	86.80B
Q2 FY2021	27 Mar 2021	26.61	20.71	2.03T	76.31B
Q1 FY2021	26 Dec 2020	34.96	23.03	2.23T	63.93B
Q4 FY2020	26 Sept 2020	33.36	20.04	1.92T	57.41B
Q3 FY2020	27 Jun 2020	26.10	17.63	1.53T	58.42B
Q2 FY2020	28 Mar 2020	18.88	14.00	1.08T	57.22B
Q1 FY2020	28 Dec 2019	22.24	18.89	1.28T	57.53B
Q4 FY2019	28 Sept 2019	18.29	16.86	1.01T	55.26B
Q3 FY2019	29 Jun 2019	16.24	15.64	904.62B	55.70B
Q2 FY2019	30 Mar 2019	15.53	15.41	887.89B	57.17B
Q1 FY2019	29 Dec 2018	12.45	13.01	739.92B	59.43B
Q4 FY2018	29 Sept 2018	18.21	19.33	1.08T	59.53B
Q3 FY2018	30 Jun 2018	16.10	15.64	903.79B	56.12B
Q2 FY2018	31 Mar 2018	15.81	14.35	843.17B	53.32B
Q1 FY2018	30 Dec 2017	17.13	14.43	865.30B	50.53B
Q4 FY2017	30 Sept 2017	16.41	13.12	793.63B	48.35B
Q3 FY2017	1 Jul 2017	16.04	13.03	748.30B	46.65B
Q2 FY2017	1 Apr 2017	16.42	13.86	750.84B	45.73B
Q1 FY2017	31 Dec 2016	13.57	11.97	613.80B	45.22B
Q4 FY2016	24 Sept 2016	13.24	12.54	604.96B	45.69B
Q3 FY2016	25 Jun 2016	10.64	10.60	508.38B	47.80B
Q2 FY2016	26 Mar 2016	11.50	12.25	582.76B	50.68B
Q1 FY2016	26 Dec 2015	11.18	12.79	600.59B	53.73B
Q4 FY2015	26 Sept 2015	12.19	13.87	650.66B	53.39B
Q3 FY2015	27 Jun 2015	14.32	14.93	726.32B	50.74B
Q2 FY2015	28 Mar 2015	14.94	14.16	714.03B	47.81B
Q1 FY2015	27 Dec 2014	14.98	12.79	666.11B	44.46B
Q4 FY2014	27 Sept 2014	15.13	11.05	597.89B	39.51B
Q3 FY2014	28 Jun 2014	14.44	11.10	556.76B	38.56B
Q2 FY2014	29 Mar 2014	12.45	10.29	469.53B	37.71B
Q1 FY2014	28 Dec 2013	13.55	12.09	501.80B	37.03B
Q4 FY2013	28 Sept 2013	12.06	11.93	446.68B	37.04B
Q3 FY2013	29 Jun 2013	9.65	9.92	364.21B	37.75B
Q2 FY2013	30 Mar 2013	10.56	11.22	418.79B	39.67B
Q1 FY2013	29 Dec 2012	11.46	13.07	478.47B	41.75B
Q4 FY2012	29 Sept 2012	14.46	17.32	603.29B	41.73B
Q3 FY2012	30 Jun 2012	13.63	14.60	547.05B	40.13B
Q2 FY2012	31 Mar 2012	14.49	14.44	559.66B	38.62B
Q1 FY2012	31 Dec 2011	11.43	9.41	376.96B	32.98B
Q4 FY2011	24 Sept 2011	14.48	9.09	375.32B	25.92B
Q3 FY2011	25 Jun 2011	12.81	8.38	302.36B	23.61B
Q2 FY2011	26 Mar 2011	16.59	10.51	324.41B	19.55B
Q1 FY2011	25 Dec 2010	17.88	11.62	297.56B	16.64B
Q4 FY2010	25 Sept 2010	19.08	13.07	267.34B	14.01B
Q3 FY2010	26 Jun 2010	21.39	13.47	243.16B	11.37B
Q2 FY2010	27 Mar 2010	21.08	13.43	209.64B	9.95B
Q1 FY2010	26 Dec 2009	22.26	14.33	188.98B	8.49B
Q4 FY2009	26 Sept 2009	22.22	15.16	163.69B	7.37B
Q3 FY2009	27 Jun 2009	18.62	13.82	127.37B	6.84B
Q2 FY2009	28 Mar 2009	15.67	12.44	95.32B	6.08B
Q1 FY2009	27 Dec 2008	13.83	12.43	76.18B	5.51B
Q4 FY2008	27 Sept 2008	23.53	24.77	113.76B	4.83B
Q3 FY2008	28 Jun 2008	32.64	34.70	150.20B	4.60B
Q2 FY2008	29 Mar 2008	28.94	30.98	125.85B	4.35B
Q1 FY2008	29 Dec 2007	42.99	46.07	175.10B	4.07B
Q4 FY2007	29 Sept 2007	38.22	37.82	133.63B	3.50B
Q3 FY2007	30 Jun 2007	33.77	32.32	105.82B	3.13B
Q2 FY2007	31 Mar 2007	28.78	26.57	80.22B	2.79B
Q1 FY2007	30 Dec 2006	29.97	26.35	72.77B	2.43B
Q4 FY2006	30 Sept 2006	33.06	26.19	65.75B	1.99B
Q3 FY2006	1 Jul 2006	26.04	18.12	48.87B	1.88B
Q2 FY2006	1 Apr 2006	30.66	18.12	52.74B	1.72B
Q1 FY2006	31 Dec 2005	37.36	18.12	59.78B	1.60B
Q4 FY2005	24 Sept 2005	32.86	18.12	43.70B	1.33B
Q3 FY2005	25 Jun 2005	30.63	14.61	30.81B	1.01B
Q2 FY2005	26 Mar 2005	45.74	19.05	34.40B	752.00M
Q1 FY2005	25 Dec 2004	49.58	16.93	25.19B	508.00M
Q4 FY2004	25 Sept 2004	51.82	12.14	14.30B	276.00M
Q3 FY2004	26 Jun 2004	59.90	14.19	12.64B	211.00M
Q2 FY2004	27 Mar 2004	58.46	16.13	9.88B	169.00M
Q1 FY2004	27 Dec 2003	54.98	21.25	7.53B	137.00M
Q4 FY2003	27 Sept 2003	110.20	73.89	7.49B	68.00M
Q3 FY2003	28 Jun 2003	—	69.20	6.76B	-18.00M
Q2 FY2003	29 Mar 2003	—	69.20	5.25B	-5.00M
Q1 FY2003	28 Dec 2002	240.40	69.20	5.05B	21.00M
Q4 FY2002	28 Sept 2002	81.23	69.20	5.28B	65.00M
Q3 FY2002	29 Jun 2002	35.88	69.20	6.31B	176.00M
Q2 FY2002	30 Mar 2002	40.81	69.20	8.37B	205.00M
Q1 FY2002	29 Dec 2001	37.89	69.20	7.88B	208.00M
Q4 FY2001	29 Sept 2001	—	69.20	5.44B	-37.00M
Q3 FY2001	30 Jun 2001	121.03	69.20	8.11B	67.00M
Q2 FY2001	31 Mar 2001	37.08	69.20	7.64B	206.00M
Q1 FY2001	30 Dec 2000	12.67	69.20	5.02B	396.00M
Q4 FY2000	30 Sept 2000	10.71	69.20	8.42B	786.00M
Q3 FY2000	1 Jul 2000	23.42	69.20	17.02B	727.00M
Q2 FY2000	1 Apr 2000	30.11	69.20	21.98B	730.00M
Q1 FY2000	1 Jan 2000	26.20	69.20	16.56B	632.00M
Q4 FY1999	25 Sept 1999	16.95	69.20	10.19B	601.00M
Q3 FY1999	26 Jun 1999	10.20	69.20	6.08B	596.00M
Q2 FY1999	27 Mar 1999	9.18	69.20	4.53B	494.00M
Q1 FY1999	26 Dec 1998	12.82	69.20	5.31B	414.00M
Q4 FY1998	25 Sept 1998	16.93	69.20	5.23B	309.00M
Q3 FY1998	26 Jun 1998	89.30	50.34	3.75B	42.00M
Q2 FY1998	27 Mar 1998	—	48.11	3.55B	-115.00M
Q1 FY1998	26 Dec 1997	—	23.77	1.70B	-878.00M
Q4 FY1997	26 Sept 1997	—	38.05	2.72B	-1.05B
Q3 FY1997	27 Jun 1997	—	39.84	1.86B	-859.00M
Q2 FY1997	28 Mar 1997	—	39.84	2.34B	-835.00M
Q1 FY1997	27 Dec 1996	—	39.84	2.88B	-867.00M
Q4 FY1996	27 Sept 1996	—	39.84	2.78B	-816.00M
Q3 FY1996	28 Jun 1996	—	—	2.60B	-781.00M
Q2 FY1996	29 Mar 1996	—	—	3.04B	-646.00M
Q1 FY1996	29 Dec 1995	23.48	—	3.92B	167.00M
Q4 FY1995	29 Sept 1995	10.96	—	4.65B	424.00M
Q3 FY1995	30 Jun 1995	11.95	—	5.72B	478.66M
Q2 FY1995	31 Mar 1995	8.40	—	4.32B	514.66M
Q1 FY1995	30 Dec 1994	10.34	—	4.74B	458.66M
Q4 FY1994	30 Sept 1994	13.03	—	4.05B	310.66M
Q3 FY1994	1 Jul 1994	15.40	—	3.06B	198.70M
Q2 FY1994	31 Mar 1994	—	—	3.95B	-128.58M
Q1 FY1994	31 Dec 1993	—	—	3.42B	-34.72M
Q4 FY1993	30 Sept 1993	31.46	—	2.73B	86.63M
Q3 FY1993	30 Jun 1993	25.17	—	4.57B	181.53M
Q2 FY1993	31 Mar 1993	12.38	—	6.21B	501.50M
Q1 FY1993	31 Dec 1992	13.77	—	7.24B	525.74M
Q4 FY1992	30 Sept 1992	10.30	—	5.46B	530.40M
Q3 FY1992	30 Jun 1992	11.39	—	5.85B	514.00M
Q2 FY1992	31 Mar 1992	21.73	—	7.15B	329.20M
Q1 FY1992	31 Dec 1991	21.15	—	6.88B	325.30M
Q4 FY1991	30 Sept 1991	19.67	—	6.09B	309.80M
Q3 FY1991	30 Jun 1991	15.68	—	5.13B	327.10M
Q2 FY1991	31 Mar 1991	16.63	—	8.32B	499.90M
Q1 FY1991	31 Dec 1990	10.10	—	5.06B	500.60M
Q4 FY1990	30 Sept 1990	7.77	—	3.69B	474.90M
Q3 FY1990	30 Jun 1990	10.39	—	5.58B	537.40M
Q2 FY1990	31 Mar 1990	9.93	—	5.10B	513.70M
Q1 FY1990	31 Dec 1989	10.46	—	4.58B	438.30M
Q4 FY1989	30 Sept 1989	12.38	—	5.62B	454.00M
Q3 FY1989	30 Jun 1989	12.76	—	5.12B	401.00M
Q2 FY1989	31 Mar 1989	11.49	—	4.55B	396.20M
Q1 FY1989	31 Dec 1988	12.24	—	5.13B	419.50M
Q4 FY1988	30 Sept 1988	13.26	—	5.31B	400.40M
Q3 FY1988	30 Jun 1988	16.58	—	6.04B	364.10M
Q2 FY1988	31 Mar 1988	15.26	—	4.98B	326.30M
Q1 FY1988	31 Dec 1987	18.80	—	5.27B	280.50M
Q4 FY1987	30 Sept 1987	32.74	—	7.12B	217.60M
Q3 FY1987	30 Jun 1987	28.37	—	5.07B	178.80M
Q2 FY1987	31 Mar 1987	25.63	—	4.04B	157.60M
Q1 FY1987	31 Dec 1986	16.58	—	2.58B	155.50M
Q4 FY1986	30 Sept 1986	13.63	—	2.10B	153.90M
Q3 FY1986	30 Jun 1986	15.94	—	2.28B	143.30M
Q2 FY1986	31 Mar 1986	—	—	1.77B	—
Q1 FY1986	31 Dec 1985	—	—	1.36B	—
Q4 FY1985	30 Sept 1985	—	—	974.13M	—

Figures in USD. A quarter's revenue, net income and dividends are those of its last four quarters. A forecast year's P/E is today's price over the analysts' EPS estimate for that year.

Common questions about Apple's P/E ratio

Source: Financial Modeling Prep

Apple
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Quotes are delayed by 15 minutes

AAPL

Apple P/E ratioWhat is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.

Is Apple's P/E high compared with its own history?Is the P/E high or low for this stock? Today's P/E against every daily P/E of the stock's last 5 years, with the growth analysts expect: whether the stock is expensive or cheap compared with itself, and whether its growth explains it.

The price against its P/E range

Growth a year: the past against what analysts expect

What changed in 5 years

P/E ratio by year and by quarter

Common questions about Apple's P/E ratio

What is Apple's P/E ratio?

Is Apple's P/E ratio high or low?

What is Apple's forward P/E?

What is Apple's PEG ratio?

Need help?

Apple DQuotes are delayed by 15 minutes

AAPL

Apple P/E ratioWhat is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.

Is Apple's P/E high compared with its own history?Is the P/E high or low for this stock? Today's P/E against every daily P/E of the stock's last 5 years, with the growth analysts expect: whether the stock is expensive or cheap compared with itself, and whether its growth explains it.

P/E ratio by year and by quarter

Common questions about Apple's P/E ratio

What is Apple's P/E ratio?

Is Apple's P/E ratio high or low?

What is Apple's forward P/E?

What is Apple's PEG ratio?

Need help?

Apple
D
Quotes are delayed by 15 minutes