Apple Inc.
Income Statement
| Line Item | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $229.23B | $215.64B | $233.72B | $182.80B | $170.91B | $156.51B | $108.25B | $65.23B |
| Mac | $25.57B | $22.83B | $25.47B | $24.08B | $21.48B | $23.22B | $21.78B | $17.48B |
| iPod | — | — | — | $2.29B | $4.41B | $5.62B | $7.45B | $8.27B |
| iPhone | $141.32B | $136.70B | $155.04B | $101.99B | $91.28B | $80.48B | $47.06B | $25.18B |
| iPad | $19.22B | $20.63B | $23.23B | $30.28B | $31.98B | $32.42B | $20.36B | $4.96B |
| Services | $29.98B | $24.35B | $19.91B | $18.06B | $16.05B | $5.88B | $4.42B | $2.97B |
| Other/Accessories | $13.11B | $11.13B | $10.05B | $6.12B | $5.70B | $8.89B | $7.06B | $6.36B |
| Cost of Revenue | $141.05B | $131.38B | $140.09B | $112.26B | $106.61B | $87.85B | $64.43B | $39.54B |
| Gross Profit | $88.19B | $84.26B | $93.63B | $70.54B | $64.30B | $68.66B | $43.82B | $25.68B |
| Gross Margin | 38.5% | 39.1% | 40.1% | 38.6% | 37.6% | 43.9% | 40.5% | 39.4% |
| Operating Expenses | ||||||||
| Research & Development | $11.58B | $10.05B | $8.07B | $6.04B | $4.48B | $3.38B | $2.43B | $1.78B |
| SG&A Expense | $15.26B | $14.19B | $14.33B | $11.99B | $10.83B | $10.04B | $7.60B | $5.52B |
| Operating Income | $61.34B | $60.02B | $71.23B | $52.50B | $49.00B | $55.24B | $33.79B | $18.39B |
| Operating Margin | 26.8% | 27.8% | 30.5% | 28.7% | 28.7% | 35.3% | 31.2% | 28.2% |
| Interest Expense | $2.32B | $1.46B | $733.0M | $384.0M | $136.0M | $0 | $0 | — |
| Pretax Income | $64.09B | $61.37B | $72.52B | $53.48B | $50.16B | $55.76B | $34.21B | $18.54B |
| Income Tax Expense | $15.74B | $15.69B | $19.12B | $13.97B | $13.12B | $14.03B | $8.28B | $4.53B |
| Net Income | $48.35B | $45.69B | $53.39B | $39.51B | $37.04B | $41.73B | $25.92B | $14.01B |
| Net Margin | 21.1% | 21.2% | 22.8% | 21.6% | 21.7% | 26.7% | 23.9% | 21.5% |
| EPS (Basic) | $2.32 | $2.09 | $2.32 | $1.62 | $1.43 | $1.60 | $1.00 | $0.55 |
| EPS (Diluted) | $2.30 | $2.08 | $2.31 | $1.61 | $1.42 | $1.58 | $0.99 | $0.54 |
| Shares Outstanding (Basic) | 20.87B | 21.88B | 23.01B | 24.34B | 25.91B | 26.17B | 25.88B | 25.46B |
| Shares Outstanding (Diluted) | 21.01B | 22.00B | 23.17B | 24.49B | 26.09B | 26.47B | 26.23B | 25.89B |
| Dividends Per Share | $0.60 | $0.55 | $0.50 | $0.46 | $0.41 | $0.10 | $0.00 | $0.00 |
Go for a business that any idiot can run – because sooner or later any idiot probably is going to be running it.