Summary
Apple Inc.'s 2021 10-K filing reveals a robust year of growth, with total net sales increasing by a significant 33% to $365.8 billion, driven by strong performance across all product and service categories. The iPhone remained the dominant revenue driver, showing substantial year-over-year growth due to new model launches. The Services segment also demonstrated impressive expansion, increasing net sales by 27% and highlighting the growing importance of Apple's ecosystem. The company continued its commitment to shareholder returns, increasing its quarterly dividend and repurchasing approximately $85.5 billion of its common stock. Despite facing ongoing challenges related to the COVID-19 pandemic, including supply chain disruptions and component shortages, Apple demonstrated resilience. The company's financial position remains strong, supported by substantial cash reserves and access to debt markets, enabling continued investment in research and development and strategic initiatives.
Financial Highlights
55 data points| Revenue | $365.82B |
| Cost of Revenue | $212.98B |
| Gross Profit | $152.84B |
| R&D Expenses | $21.91B |
| SG&A Expenses | $21.97B |
| Operating Expenses | $43.89B |
| Operating Income | $108.95B |
| Interest Expense | $2.65B |
| Net Income | $94.68B |
| EPS (Basic) | $5.67 |
| EPS (Diluted) | $5.61 |
| Shares Outstanding (Basic) | 16.70B |
| Shares Outstanding (Diluted) | 16.86B |
Key Highlights
- 1Total net sales surged by 33% year-over-year to $365.8 billion, indicating strong market demand and successful product cycles.
- 2iPhone revenue increased significantly (39%) to $192.0 billion, driven by the launch of new iPhone models.
- 3The Services segment continued its impressive growth trajectory, with net sales up 27% to $68.4 billion, underscoring the increasing contribution of Apple's ecosystem.
- 4Apple significantly increased its capital return program, authorizing up to $315 billion in share repurchases and raising its quarterly dividend.
- 5The company actively repurchased $85.5 billion of its common stock during the fiscal year.
- 6Despite global supply chain disruptions and component shortages, Apple managed to drive substantial revenue growth.
- 7Geographic performance was strong across the board, with Greater China showing exceptional growth of 70% in net sales year-over-year.