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AAPL
Apple Inc.Stock · Technology
$308.63+$14.25 (+4.84%)as of market close, Jul 2, 2026
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How Apple makes money

Fiscal year

How does Apple make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year. Straight from SEC filings.

Apple Inc. · FY2025 · year ended 2025-09-27
Revenue$416.2BGross profit$195.2B · 47%Cost of revenue$221.0B · 53%Operating income$133.1B · 32%Operating expenses$62.2B · 15%R&D$34.5B · 8%SG&A$27.6B · 7%Net income$112.0B · 27%Income tax$20.7B · 5%iPhone$209.6B · 50%Service$109.2B · 26%Wearables$35.7B · 9%Mac$33.7B · 8%iPad$28.0B · 7%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.