On Jan.17, consumer electronics and services master Apple
- Steve Jobs' merry band has pushed margins skyward over the year, and many hardware shops would plunder and pillage for a 14% net margin.
- A very successful holiday season saw demand for the iPod/iTunes symbiosis skyrocket, and the new-style Macs powered by the latest and greatest out of Intel
(NASDAQ:INTC) are proving way more popular than the old Freescale-based systems. - The debt-free stash of $11.9 billion of bullion in Apple's proverbial vaults looks mighty tasty. What's the plan, Steve -- acquisitions or dividends?
(Figures in millions, except per-share data)
Income Statement Highlights
|
Q1 2007 |
Q1 2006 |
Change |
|
|---|---|---|---|
|
Sales |
$7,115 |
$5,749 |
23.8% |
|
Net Profit |
$1,004 |
$565 |
77.7% |
|
EPS |
$1.14 |
$0.65 |
75.4% |
|
Diluted Shares |
883.3 |
874.2 |
1.0% |
Get back to basics with a look at the income statement.
Margin Checkup
|
Q1 2007 |
Q1 2006 |
Change* |
|
|---|---|---|---|
|
Gross Margin |
31.2% |
27.2% |
4.0 |
|
Operating Margin |
18.6% |
13.1% |
5.5 |
|
Net Margin |
14.1% |
9.8% |
4.3 |
Margins are the earnings engine. See how they work.
Management Effectiveness
|
Q1 2007 |
Q1 2006 |
Change* |
|
|---|---|---|---|
|
Return On Average Assets |
21.9% |
17.6% |
4.3 |
|
Return On Average Equity |
37.9% |
28.6% |
9.3 |
See how management puts its financial tools to work.
Balance Sheet Highlights
|
Assets |
Q1 2007 |
Q1 2006 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$11,869 |
$8,707 |
36.3% |
|
Accounts Rec. |
$1,621 |
$1,331 |
21.8% |
|
Inventory |
$303 |
$244 |
24.2% |
|
Liabilities |
Q1 2007 |
Q1 2006 |
Change |
|---|---|---|---|
|
Accounts Payable |
$3,885 |
$2,896 |
34.2% |
|
Long-Term Debt |
$0 |
$0 |
N/A |
Learn the ways of the balance sheet.
Cash Flow Highlights
I know Apple just restated a whole bunch of earnings, but that's no excuse for depriving us of a cash flow statement, now is it?
Find out why Fools always follow the money.
Cash Conversion Checkup
|
Q1 2007 |
Q1 2006 |
Change |
|
|---|---|---|---|
|
Days in Inventory |
5.3 |
4.4 |
0.9 |
|
Days in Receivables |
18.2 |
17.4 |
0.7 |
|
Days Payables Outstanding |
66.9 |
50.3 |
16.6 |
|
Cash Conversion Cycle |
(43.4) |
(28.4) |
(15.0) |
Read up on cash conversion metrics.
Related Companies:
-
Microsoft
(NASDAQ:MSFT) -
Dell
(NASDAQ:DELL) -
Palm
(NASDAQ:PALM) -
SanDisk
(NASDAQ:SNDK)
Related Foolishness:
Intel, Dell, and Microsoft are all Inside Value recommendations. Dell and Palm are Motley Fool Stock Advisor picks. Grab a free 30-day trial or two and head over to our premium newsletters to check out the quality of Apple's competition.
Fool by Numbers is designed to give you the raw earnings information in a timely fashion, putting all the numbers you need in one easy-to-read place. But at The Motley Fool, we believe numbers tell only part of the story, so check Fool.com for more of our in-depth discussion of what the numbers mean.
At the time of publication, Anders Bylund had no position in any company mentioned. Fool rules are here.
