On Tuesday, iEverything maker Apple (NASDAQ:AAPL) released earnings for the 2007 fiscal year ended Sept. 29.
- Rick Munarriz told us in no uncertain terms that Apple would impress, and it did. Can I borrow your crystal ball, Rick?
- The iPhone contributed $123 million to 2007 sales, which is a nice start but still looks tiny next to the $10.8 billion generated by the iPod/iTunes complex.
- The operating cash machine is growing even faster than sales or earnings. That's like waving Harlequin garb in front of a Fool -- a signal to charge in and look for more "buy" signals.
(Figures in millions, except per-share data)
Income Statement Highlights
|
FY 2007 |
FY 2006 |
Change | |
|---|---|---|---|
|
Sales |
$24,006 |
$19,315 |
24.3% |
|
Net Profit |
$3,496 |
$1,989 |
75.8% |
|
EPS |
$3.93 |
$2.27 |
73.1% |
|
Diluted Shares |
889.3 |
877.5 |
1.3% |
Get back to basics with the income statement.
Margin Checkup
|
FY 2007 |
FY 2006 |
Change* | |
|---|---|---|---|
|
Gross Margin |
34.0% |
29.0% |
5.0 |
|
Operating Margin |
18.4% |
12.7% |
5.7 |
|
Net Margin |
14.6% |
10.3% |
4.3 |
Margins are the earnings engine.
Balance Sheet Highlights
|
Assets |
FY 2007 |
FY 2006 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$15,386 |
$10,110 |
52.2% |
|
Accounts Rec. |
$1,637 |
$1,252 |
30.8% |
|
Inventory |
$346 |
$270 |
28.1% |
|
Liabilities |
FY 2007 |
FY 2006 |
Change |
|---|---|---|---|
|
Accounts Payable |
$4,970 |
$3,390 |
46.6% |
|
Long-Term Debt |
$0 |
$0 |
N/A |
The balance sheet reflects the company's health.
Cash Flow Highlights
|
FY 2007 |
FY 2006 |
Change | |
|---|---|---|---|
|
Cash From Ops. |
$5,474 |
$2,220 |
146.6% |
Free cash flow is a Fool's best friend. However, all we got today is his brother.
Competitive Context
|
Market Cap |
Trailing P/E Ratio |
CAPS Rating (out of 5) | |
|---|---|---|---|
|
Apple |
$150,882.7 |
43.2 |
*** |
|
Dell (NASDAQ:DELL) |
$64,014.1 |
22.0 |
** |
|
Hewlett-Packard (NYSE:HPQ) |
$132,228.8 |
20.7 |
**** |
|
SanDisk (NASDAQ:SNDK) |
$10,050.2 |
132.4 |
**** |
|
RealNetworks (NASDAQ:RNWK) |
$972.0 |
9.4 |
** |
|
Napster (NASDAQ:NAPS) |
$152.0 |
N/A |
* |
I'm using the latest reported numbers from Capital IQ. Nobody is anybody without some context.
Related Foolishness:
