TTM
32.6%
YoY change
+0.46pp
Trough year (1997)
-15.1%
Peak year (2012)
35.3%
Latest annual
32.0%
Operating Margin history chart for Apple (AAPL) from 1985 to 2025
Latest: 32.0%
Operating Margin change chart for Apple (AAPL) from 1985 to 2025
Latest: +0.46pp
Operating Margin history table for Apple (AAPL) from 1985 to 2025
| 2025 | 32.0% | +0.46pp | ||
| 2024 | 31.5% | +1.69pp | ||
| 2023 | 29.8% | -0.47pp | ||
| 2022 | 30.3% | +0.51pp | ||
| 2021 | 29.8% | +5.64pp | ||
| 2020 | 24.1% | -0.42pp | ||
| 2019 | 24.6% | -2.12pp | ||
| 2018 | 26.7% | -0.07pp | ||
| 2017 | 26.8% | -1.07pp | ||
| 2016 | 27.8% | -2.64pp | ||
| 2015 | 30.5% | +1.75pp | ||
| 2014 | 28.7% | +0.05pp | ||
| 2013 | 28.7% | -6.63pp | ||
| 2012 | 35.3% | +4.08pp | ||
| 2011 | 31.2% | +3.03pp | ||
| 2010 | 28.2% | +1.50pp | ||
| 2009 | 26.7% | +7.37pp | ||
| 2008 | 19.3% | +0.95pp | ||
| 2007 | 18.4% | +5.67pp | ||
| 2006 | 12.7% | +0.91pp | ||
| 2005 | 11.8% | +8.01pp | ||
| 2004 | 3.8% | +3.80pp | ||
| 2003 | -0.0% | -0.31pp | ||
| 2002 | 0.3% | +6.71pp | ||
| 2001 | -6.4% | -12.95pp | ||
| 2000 | 6.5% | +0.69pp | ||
| 1999 | 5.9% | +1.46pp | ||
| 1998 | 4.4% | +19.50pp | ||
| 1997 | -15.1% | -1.05pp | ||
| 1996 | -14.1% | -20.25pp | ||
| 1995 | 6.2% | +0.50pp | ||
| 1994 | 5.7% | +4.30pp | ||
| 1993 | 1.4% | -9.99pp | ||
| 1992 | 11.4% | +4.28pp | ||
| 1991 | 7.1% | -5.72pp | ||
| 1990 | 12.8% | +0.81pp | ||
| 1989 | 12.0% | -3.23pp | ||
| 1988 | 15.2% | +1.28pp | ||
| 1987 | 14.0% | -0.42pp | ||
| 1986 | 14.4% | +6.70pp | ||
| 1985 | 7.7% | — |
- 202532.0%+0.46pp
- 202431.5%+1.69pp
- 202329.8%-0.47pp
- 202230.3%+0.51pp
- 202129.8%+5.64pp
- 202024.1%-0.42pp
- 201924.6%-2.12pp
- 201826.7%-0.07pp
- 201726.8%-1.07pp
- 201627.8%-2.64pp
- 201530.5%+1.75pp
- 201428.7%+0.05pp
- 201328.7%-6.63pp
- 201235.3%+4.08pp
- 201131.2%+3.03pp
- 201028.2%+1.50pp
- 200926.7%+7.37pp
- 200819.3%+0.95pp
- 200718.4%+5.67pp
- 200612.7%+0.91pp
- 200511.8%+8.01pp
- 20043.8%+3.80pp
- 2003-0.0%-0.31pp
- 20020.3%+6.71pp
- 2001-6.4%-12.95pp
- 20006.5%+0.69pp
- 19995.9%+1.46pp
- 19984.4%+19.50pp
- 1997-15.1%-1.05pp
- 1996-14.1%-20.25pp
- 19956.2%+0.50pp
- 19945.7%+4.30pp
- 19931.4%-9.99pp
- 199211.4%+4.28pp
- 19917.1%-5.72pp
- 199012.8%+0.81pp
- 198912.0%-3.23pp
- 198815.2%+1.28pp
- 198714.0%-0.42pp
- 198614.4%+6.70pp
- 19857.7%—
Operating Margin values are taken from Apple's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About Operating Margin at Apple (AAPL)
According to Apple's latest reported financial statements, the company's latest reported operating margin is 32.6%. Operating margin is operating income divided by revenue — the share of each sales dollar left after cost of goods sold and operating expenses (SG&A, R&D), but before interest and taxes. It isolates how profitable the core business is before financing and tax decisions, so it is comparable across companies with different capital structures.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
2025's annual operating margin for Apple (AAPL) came in at 31.97% – expanded 0.5 percentage points year-over-year.
The record annual operating margin stands at 35.30%, reached in 2012; the historical low of -15.11% was recorded in 1997.
Apple Operating Margin by Year
Apple Operating Margin 2025: 32.0%
In 2025, Apple reported operating margin of 31.97%, expanded 0.5 percentage points from 2024.
Apple Operating Margin 2024: 31.5%
Apple operating margin in 2024 was 31.51%, expanded 1.7 percentage points from 2023.
Apple Operating Margin 2023: 29.8%
2023's operating margin for Apple came in at 29.82%, contracted 0.5 percentage points from 2022.
Apple Operating Margin 2022: 30.3%
Apple posted operating margin of 30.29% in 2022, expanded 0.5 percentage points from 2021.
Apple Operating Margin 2021: 29.8%
Apple operating margin in 2021 was 29.78%.
See more financial history for Apple (AAPL).
Sector peers by Operating Margin
Technology peers of Apple (AAPL), ranked by their latest operating margin
| 64.0% | |
| 53.2% | |
| 48.5% | |
| 46.8% | |
| 43.7% | |
| 34.8% | |
| 30.8% | |
| 11.7% |
- 64.0%
- 53.2%
- 46.8%
- 43.7%
- 34.8%
- 30.8%
- 11.7%
Frequently asked questions
Apple (AAPL) Key Financials
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