Apple free cash flow analysis
Apple free cash flow
26 days ago
1 reply
Ask a follow up
Apple Free Cash Flow (FY21 – FY25)
| ($B) | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Operating Cash Flow | 104.0 | 122.2 | 110.5 | 118.3 | 111.5 |
| Capital Expenditures | (11.1) | (10.7) | (11.0) | (9.4) | (12.7) |
| Free Cash Flow | 92.95 | 111.44 | 99.58 | 108.81 | 98.77 |
Apple's free cash flow peaked at $111.4B in FY22, dipped in FY23 as working capital absorbed cash, recovered to $108.8B in FY24, and stepped down to $98.8B in FY25 — driven by a ~35% jump in capex (largely AI/data-center infrastructure) rather than weaker cash generation. FCF margin remains industry-leading at roughly 26–30% of revenue across the period.
about 1 month ago