Apple (AAPL) Operating Margin (2009 - 2026)
Apple (AAPL) recorded Operating Margin of 32.62% in fiscal Q3 2026 (quarter ended Jun 27, 2026), up 2.63 percentage points from 29.99% a year earlier and up 0.35 percentage points from the prior quarter.
Apple (AAPL) Operating Margin (2009 - 2026) Analysis & Trends
On a TTM basis, Apple's Operating Margin came in at 33.17% as of Jun 27, 2026, up 1.31 percentage points year-over-year; for FY2025 (ended Sep 27, 2025), it came in at 31.97%, up 0.46 percentage points from FY2024.
- Annual Operating Margin has a five-year change of +7.82 percentage points (FY2020 to FY2025).
- Across earlier fiscal years, Operating Margin came in at 31.51% in FY2024 (+1.69 pp), 29.82% in FY2023 (-0.47 pp), 30.29% in FY2022 (+0.51 pp) and 29.78% in FY2021 (+5.64 pp).
- Quarterly Operating Margin has ranged from 27.62% in fiscal Q4 2022 to 35.37% in fiscal Q1 2026 over the past five years.
- On a year-over-year basis, Operating Margin has increased for 13 consecutive quarters, with an average year-over-year change of +0.97 percentage points over the last eight quarters.
- Peak year-over-year performance for Operating Margin in the last five years was a gain of 5.70 percentage points in fiscal Q4 2021, against a drop of 2.73 percentage points in fiscal Q1 2023 at the low end.
- Per Business Quant, the preceding three fiscal quarters came in at 32.28% (Q2 2026), 35.37% (Q1 2026) and 31.65% (Q4 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Apple | 4,863.18 Bn | 4,610.67 Bn | 54.77 Bn | 32.62% |
| 2 | Cisco Systems | 445.19 Bn | 381.12 Bn | 11.06 Bn | 24.72% |
| 3 | Dell Technologies | 353.32 Bn | 309.07 Bn | 9.83 Bn | 11.46% |
| 4 | Arista Networks | 261.04 Bn | 214.50 Bn | 1.91 Bn | 45.39% |
| 5 | Sandisk | 248.81 Bn | 237.33 Bn | 7.58 Bn | 78.49% |
| 6 | Seagate Technology Holdings | 201.18 Bn | 196.18 Bn | 1.90 Bn | 42.96% |
| 7 | Western Digital | 159.43 Bn | 147.56 Bn | 2.03 Bn | 41.71% |
| 8 | Sony | 144.77 Bn | 95.16 Bn | 6.53 Bn | 16.79% |
| 9 | Lumentum Holdings | 96.72 Bn | 88.53 Bn | 477.30 Mn | 27.76% |
| 10 | Hewlett Packard Enterprise | 90.82 Bn | 68.69 Bn | 4.93 Bn | 11.41% |
Historic Data
| Date | Value |
|---|---|
| Jun 27, 2026 | 32.62% |
| Mar 28, 2026 | 32.28% |
| Dec 27, 2025 | 35.37% |
| Sep 27, 2025 | 31.65% |
| Jun 28, 2025 | 29.99% |
| Mar 29, 2025 | 31.03% |
| Dec 28, 2024 | 34.46% |
| Sep 28, 2024 | 31.17% |
| Jun 29, 2024 | 29.56% |
| Mar 30, 2024 | 30.74% |
| Dec 30, 2023 | 33.76% |
| Sep 30, 2023 | 30.13% |
| Jul 1, 2023 | 28.12% |
| Apr 1, 2023 | 29.86% |
| Dec 31, 2022 | 30.74% |
| Sep 24, 2022 | 27.62% |
| Jun 25, 2022 | 27.82% |
| Mar 26, 2022 | 30.82% |
| Dec 25, 2021 | 33.47% |
| Sep 25, 2021 | 28.53% |
Apple Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=AAPL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "AAPL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=AAPL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();