Question 1

What is Apple's P/B ratio?

Accepted Answer

Apple (AAPL) P/B ratio is 42.6× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for Apple?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For Apple specifically, the relevant sector benchmark is the current sector median of 6.0×.

Question 5

Is Apple's P/B ratio high or low?

Accepted Answer

Apple's P/B ratio of 42.6× is below its own 5-year average of 44.1× and above the sector median of 6.0×. That places the current reading at the 34th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Apple's historical P/B ratio range?

Accepted Answer

In the available daily series, Apple (AAPL) P/B ratio has ranged from a low of 1.2× in 2002 to a high of 69.3× in 2024. The 5-year average is 44.1× and the 5-year median is 42.6×.

Question 7

What was Apple's P/B ratio in 2025?

Accepted Answer

Apple (AAPL) P/B ratio at the end of 2025 was 51.8×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

Why does Apple's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$3.82T	$73.73B	51.8×	-8.9×	Sep 27, 2025
2024	$3.46T	$56.95B	60.7×	+17.7×	Sep 28, 2024
2023	$2.67T	$62.15B	43.0×	-4.6×	Sep 30, 2023
2022	$2.41T	$50.67B	47.6×	+9.2×	Sep 24, 2022
2021	$2.42T	$63.09B	38.4×	+9.1×	Sep 25, 2021
2020	$1.92T	$65.34B	29.3×	+18.1×	Sep 26, 2020
2019	$1.01T	$90.49B	11.2×	+1.1×	Sep 28, 2019
2018	$1.08T	$107.15B	10.1×	+4.2×	Sep 29, 2018
2017	$793.63B	$134.05B	5.9×	+1.2×	Sep 30, 2017
2016	$604.96B	$128.25B	4.7×	-0.7×	Sep 24, 2016
2015	$650.66B	$119.36B	5.5×	+0.1×	Sep 26, 2015
2014	$597.89B	$111.55B	5.4×	+1.7×	Sep 27, 2014
2013	$446.68B	$123.55B	3.6×	-1.5×	Sep 28, 2013
2012	$603.29B	$118.21B	5.1×	+0.2×	Sep 29, 2012
2011	$375.32B	$76.61B	4.9×	-0.7×	Sep 24, 2011
2010	$267.34B	$47.79B	5.6×	+0.4×	Sep 25, 2010
2009	$163.69B	$31.64B	5.2×	+0.1×	Sep 26, 2009
2008	$113.76B	$22.30B	5.1×	-4.1×	Sep 27, 2008
2007	$133.63B	$14.53B	9.2×	+2.6×	Sep 29, 2007
2006	$65.75B	$9.98B	6.6×	+0.7×	Sep 30, 2006
2005	$43.70B	$7.43B	5.9×	+3.1×	Sep 24, 2005
2004	$14.30B	$5.08B	2.8×	+1.0×	Sep 25, 2004
2003	$7.49B	$4.22B	1.8×	+0.5×	Sep 27, 2003
2002	$5.28B	$4.09B	1.3×	—	Sep 28, 2002


Duolingo (DUOL)	3.3×
Unity Software (U)	3.2×
Synopsys (SNPS)	3.0×
Science Applications International (SAIC)	2.9×
Zebra Technologies (ZBRA)	2.9×
Zoom Communications (ZM)	2.9×
Trimble (TRMB)	2.7×
Twilio (TWLO)	2.5×
Amkor Technology (AMKR)	2.5×
EPAM Systems (EPAM)	2.1×
Qorvo (QRVO)	2.1×
IonQ (IONQ)	2.1×
Intel (INTC)	2.0×
Roper Technologies (ROP)	2.0×
Cognizant (CTSH)	1.9×
Okta (OKTA)	1.9×
Super Micro Computer (SMCI)	1.8×
Lyft (LYFT)	1.7×
Block (XYZ)	1.7×
Block (SQ)	1.6×
Hewlett Packard Enterprise (HPE)	1.5×
Fidelity National Information Services (FIS)	1.5×
Skyworks Solutions (SWKS)	1.4×
Fiserv (FISV)	1.1×
Strategy (MSTR)	0.9×

P/B Ratio for Apple (AAPL)

P/B Ratio daily chart for Apple (AAPL)

Historical P/B Ratio for Apple (AAPL) from 2002 to 2025

About P/B Ratio at Apple (AAPL)

Apple P/B Ratio by Year

Apple P/B Ratio 2025: 51.8×

Apple P/B Ratio 2024: 60.7×

Apple P/B Ratio 2023: 43.0×

Apple P/B Ratio 2022: 47.6×

Apple P/B Ratio 2021: 38.4×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

Apple (AAPL) Key Financials

P/B Ratio daily chart for Apple (AAPL)

Historical P/B Ratio for Apple (AAPL) from 2002 to 2025

About P/B Ratio at Apple (AAPL)

Apple P/B Ratio by Year

Apple P/B Ratio 2025: 51.8×

Apple P/B Ratio 2024: 60.7×

Apple P/B Ratio 2023: 43.0×

Apple P/B Ratio 2022: 47.6×

Apple P/B Ratio 2021: 38.4×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

+What is Apple's P/B ratio?

+How is the P/B ratio calculated?

+What is the P/B ratio?

+What is a good P/B ratio for Apple?

+Is Apple's P/B ratio high or low?

+What is Apple's historical P/B ratio range?

+What was Apple's P/B ratio in 2025?

+Why does Apple's P/B ratio change over time?

Apple (AAPL) Key Financials