{
  "description": "Realized forward P/E: quarter-end close divided by the diluted EPS Apple subsequently reported over the next four fiscal quarters (split-adjusted; FY2024 Q4 EPS adjusted to exclude the one-time EU State Aid tax charge). Perfect-foresight measure, not a consensus forward P/E.",
  "units": "x (price / next-four-quarter diluted EPS, USD)",
  "columns": [
    "quarter_end",
    "close_usd",
    "next4q_diluted_eps_ex_eu_charge_usd",
    "pe_ex_eu_charge"
  ],
  "rows": [
    [
      "2015-06-27",
      31.69,
      2.14,
      14.81
    ],
    [
      "2015-09-26",
      28.68,
      2.07,
      13.87
    ],
    [
      "2015-12-26",
      27.01,
      2.09,
      12.94
    ],
    [
      "2016-03-26",
      26.42,
      2.14,
      12.36
    ],
    [
      "2016-06-25",
      23.35,
      2.2,
      10.61
    ],
    [
      "2016-09-24",
      28.18,
      2.3,
      12.25
    ],
    [
      "2016-12-31",
      28.95,
      2.43,
      11.9
    ],
    [
      "2017-04-01",
      35.92,
      2.59,
      13.87
    ],
    [
      "2017-07-01",
      36.01,
      2.76,
      13.06
    ],
    [
      "2017-09-30",
      38.53,
      2.97,
      12.98
    ],
    [
      "2017-12-30",
      42.31,
      3.04,
      13.89
    ],
    [
      "2018-03-31",
      41.94,
      2.97,
      14.11
    ],
    [
      "2018-06-30",
      46.28,
      2.94,
      15.75
    ],
    [
      "2018-09-29",
      56.44,
      2.97,
      19.0
    ],
    [
      "2018-12-29",
      39.06,
      3.17,
      12.32
    ],
    [
      "2019-03-30",
      47.49,
      3.2,
      14.84
    ],
    [
      "2019-06-29",
      49.48,
      3.3,
      14.99
    ],
    [
      "2019-09-28",
      54.71,
      3.27,
      16.73
    ],
    [
      "2019-12-28",
      72.45,
      3.7,
      19.58
    ],
    [
      "2020-03-28",
      61.94,
      4.46,
      13.89
    ],
    [
      "2020-06-27",
      88.41,
      5.11,
      17.3
    ],
    [
      "2020-09-26",
      112.28,
      5.61,
      20.01
    ],
    [
      "2020-12-26",
      131.97,
      6.03,
      21.89
    ],
    [
      "2021-03-27",
      121.21,
      6.15,
      19.71
    ],
    [
      "2021-06-26",
      133.11,
      6.05,
      22.0
    ],
    [
      "2021-09-25",
      146.92,
      6.11,
      24.05
    ],
    [
      "2021-12-25",
      176.28,
      5.89,
      29.93
    ],
    [
      "2022-03-26",
      174.72,
      5.89,
      29.66
    ],
    [
      "2022-06-25",
      141.66,
      5.95,
      23.81
    ],
    [
      "2022-09-24",
      150.43,
      6.12,
      24.58
    ],
    [
      "2022-12-31",
      129.93,
      6.42,
      20.24
    ],
    [
      "2023-04-01",
      164.9,
      6.43,
      25.65
    ],
    [
      "2023-07-01",
      193.97,
      6.57,
      29.52
    ],
    [
      "2023-09-30",
      171.21,
      6.75,
      25.36
    ],
    [
      "2023-12-30",
      192.53,
      6.97,
      27.62
    ],
    [
      "2024-03-30",
      171.48,
      7.09,
      24.19
    ],
    [
      "2024-06-29",
      210.62,
      7.26,
      29.01
    ],
    [
      "2024-09-28",
      227.79,
      7.46,
      30.53
    ],
    [
      "2024-12-28",
      255.59,
      7.9,
      32.35
    ],
    [
      "2025-03-29",
      217.9,
      8.26,
      26.38
    ],
    [
      "2025-06-28",
      201.08,
      8.71,
      23.09
    ]
  ],
  "summary": {
    "ten_year": {
      "n": 40,
      "mean": 19.8955,
      "median": 19.645,
      "min": 10.61,
      "max": 32.35,
      "first": "2015-09-26",
      "last": "2025-06-28"
    },
    "five_year": {
      "n": 20,
      "mean": 25.479,
      "median": 24.97,
      "min": 19.71,
      "max": 32.35,
      "first": "2020-09-26",
      "last": "2025-06-28"
    }
  },
  "current_reference": {
    "entry_usd": 335.68,
    "consensus_fy2027_eps": 9.53,
    "pe_on_consensus": 35.223504721930745,
    "house_fy2027_eps": 9.2,
    "pe_on_house": 36.48695652173913,
    "thesis_multiples": {
      "margin_reset": 30,
      "in_line": 34,
      "demand_hold": 37
    }
  },
  "sources": [
    "SEC XBRL company facts for Apple diluted EPS",
    "Yahoo Finance daily closes"
  ],
  "correction": "Removed a second, reversed EU-charge adjustment. Apple FY2024 Q4 EPS was $0.97 reported and $1.64 excluding the charge, a +$0.67 adjustment. The saved next-four-quarter EPS already includes this add-back. Ratios retain the source series rounding.",
  "adjustment_source": "https://www.apple.com/newsroom/2024/10/apple-reports-fourth-quarter-results/"
}